Bank Danamon

Bank Danamon was established on July 16, 1956 as PT Bank Kopra Indonesia. In 1976, the bank's name was changed to PT Bank Danamon Indonesia. It began focusing on foreign exchange transactions in 1976 and listed its shares on the Jakarta Stock Exchange in 1989.

Suffering liquidity problems amid the Asian financial crisis, Danamon was in 1997 placed by the government under the supervision of the Indonesian Bank Restructuring Agency (IBRA). In 1999, the government through IBRA, recapitalized Danamon with Rp 32 billion in Government Bonds. In the same year, some banks taken over by the government merged with Bank Danamon as one part of IBRA's restructuring plan.

In 2000, Bank Danamon merged with another eight banks taken over by the government, further increasing Danamon's size.

Over the next three years, Danamon underwent a massive restructuring, which covered management, human resources, organization, information systems, statutes and company logos. These changes sought to boost the bank's growth, transparency and professionalism.

In 2003, a consortium of Asia Finance Indonesia, under the control of Singapore's Temasek Holdings, bought a majority stake in Danamon. The new management sought to further improve Danamon's performance and position.

In 2008, Danamon adopted the slogan "Untuk Anda, Bisa" ("For You, Can").

In December 2017, Japan's Mitsubishi UFJ Financial Group (MUFG) bought a 19.9% stake in Danamon from Temasek Holdings for Rp 15.875 trillion ($1.17 billion). The price indicated Danamon was valued at about $6 billion. In July 2018, Indonesia's Financial Services Authority (OJK) approved MUFG’s plan to purchase a further 20.1% stake from Asia Financial.[3]

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