Bank Danamon
From Wikipedia, the free encyclopedia
| Bank Danamon | |
|---|---|
| Type | |
| Founded | July 16, 1956 |
| Headquarters |  Jakarta |
| Key people | J.E. Sebastian Parades, CEO |
| Industry | Finance |
| Products | Financial Services |
| Website | [1] |
PT Bank Danamon Indonesia Tbk was established in 1956 under the name of PT Bank Kopra Indonesia, in 1976, the Bank's name was changed to the present name, Bank Danamon Indonesia. The Bank became the first Indonesian private foreign exchange bank in 1976 and a publicly listed bank in 1989.
In 1997, as a result of the Asian financial crisis, Bank Danamon ran into liquidity insolvency and was placed under the supervision of the Indonesian Bank Restructuring Agency (IBRA) as a BTO (taken over) bank. In 1999, the government of Indonesia, thought IBRA, recapitalized the Bank with Rp 32 trillion of government bonds. Within the same year, another BTO bank was merger into Bank Danamon as part of the restructuring programme of IBRA.
In 2000, Bank Danamon took under its wings eight other BTO banks. As the surviving entity, Bank Danamon emerged from the merger as one of the pillar banks of Indonesia.
During the next three years, Bank Danamon underwent extensive restructuring involving management, people, organization, systems, core values and corporate identity. The efforts succeeded in laying down new foundations and infrastructure for the Bank to pursue growth based on transparency, responsibility, integrity and professionalism (TRIP).
In 2003, Bank Danamon was acquired by the Asia Finance Indonesia. AFI consortium which took a majority controlling stake in the Bank. With new management at the helm, and 180-day remapping of its business model and strategy, Bank Danamon continues to undergo a transformational change designed to mold it into a leading national bank and a key regional player.
The AFI is primarily owned by Temasek of Spore and Deustche Bank as of 2006 they have 56%.
