trending Market Intelligence /marketintelligence/en/news-insights/trending/EqaiyL5DZ8JoZva39YB7HQ2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Indonesia's Bank Danamon to merge with Bank Nusantara Parahyangan

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery

StreetTalk – Episode 70: Banks' Liquidity Conundrum Could Fuel M&A Activity


Indonesia's Bank Danamon to merge with Bank Nusantara Parahyangan

PT Bank Danamon Indonesia Tbk is preparing to merge with Mitsubishi UFJ Financial Group Inc. unit PT Bank Nusantara Parahyangan Tbk in 2019, IDNFinancials reported Dec. 27, citing Michellina Laksmi Triwardhany, vice president director of Bank Danamon.

Mitsubishi UFJ Financial is a controlling shareholder of Bank Danamon with a 40% stake. It has completed the first two steps of a three-step transaction to acquire a 73.8% stake in Bank Danamon from Asia Financial (Indonesia) and other investors.

In August 2018, Indonesia's Financial Services Authority gave Bank Danamon and Bank Nusantara Parahyangan a one-year deadline to complete the proposed merger. Triwardhany said the bank will disclose more details later, according to the outlet.