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PT Bank Danamon Indonesia Tbk is an Indonesian bank established in 1956. It is the sixth largest bank in Indonesia by asset size.[2]
History
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] In April 2019, MUFG announced the merger of Danamon and Bank Nusantara Parahyangan (BNP). The merger resulted in MUFG becoming the majority shareholders with 94.1% stake of Bank Danamon.[4]
In December 2019, Danamon sold most of its share of Adira Insurance to Zurich Insurance Company, making Danamon a minority shareholder.[5]
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