PT Bank Danamon Indonesia Tbk Is An Indonesian Bank Established In 1956. It Is The Sixth Largest Bank In Indonesia By Assets.
History
In December 2017, Japan's Mitsubishi UFJ Financial Group (MUFG) Acquired A 19.9% Stake In Danamon From Temasek Holdings Holdings For 15.875 Trillion Guilders ($1.17 Billion). The Price Indicates That Danamon Is Valued At Around $6 Billion. In July 2018, The Indonesian Financial Services Authority (OJK) Approved MUFG's Plan To Purchase An Additional 20.1% Stake From Asia Financial. In April 2019, MUFG Announced The Merger Of Danamon And Bank Nusantara Parahyangan (BNP). The Merger Resulted In MUFG Becoming A Majority Shareholder, Owning 94.1% Of Bank Danamon.
In December 2019, Danamon Sold A Majority Of Its Stake In Adira Insurance To Zurich Insurance, Making Danamon A Minority Shareholder
