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4-Traders Homepage  >  Equities  >  INDONESIA STOCK EXCHANGE  >  Bank Danamon Indonesia Tbk PT    BDMN   ID1000094204

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PT Bank Danamon Indonesia Tbk : Danamon Simpan Pinjam Forms Partnership with USAID

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05/08/2012 | 05:49pm CEST

Enabling Easier Access to Working Capital Financing for Agribusinesses 

Danamon Simpan Pinjam today signed a business agreement with the United States Agency for International Development (USAID) to enhance training, technical ability, and financing access for the agribusiness sector (agriculture and farming) for certain communities. 

The signing ceremony is held in Jakarta, and was attended by representatives from both parties. Danamon Simpan Pinjam is represented by Minhari Handikusuma, Danamon Micro Banking Director. and Ali Yong, Danamon Director, while USAID is represented by USAID Director for Indonesia, Glenn Anders.

Danamon, through one of its business unit, Danamon Simpan Pinjam (DSP), serves and assists in developing micro and small businesses, especially those in the traditional market environment, such as traders, retailers, and others. Since 2010, DSP has undertaken business expansion to the agribusiness sector, starting with palm oil plantation and rubber. Moving forward, DSP plans to expand in the agribusiness sector such as cocoa and coffee.  

USAID is an independent and United States government institution, which offers developmental and humanitarian assistance all around the world, with an objective to support United States foreign policy. Since 1950, USAID has worked with the Indonesian government and civil societies to help development and meet the needs of its people.

"This activity is part of our commitment to support the business development of agribusiness enterprises around Indonesia and to provide the best service to them, through sustainable empowerment. We hope that this partnership is positively welcomed and gives benefits to members of the agribusiness sector," said Minhari Handikusuma, Micro Banking Director, Danamon.  

It is hoped that the partnership would result in better access for agribusinesses to receive financing as a means to fund their working capital. 

About Danamon:

PT Bank Danamon Indonesia Tbk. was established in 1956 and as of March 31, 2012 operates over 3,100 branches and points of sales, including its Danamon Simpan Pinjam (DSP) and Syariah units as well as its subsidiaries branches. As of March 31, 2012 Danamon provides its customers with access to over 30,000 ATMs, including through its association with ATM Bersama and ALTO, in all 33 provinces in Indonesia.

Danamon was recently awarded as Indonesian Bank Loyalty Champion 2012 from Infobank and Markplus Insight in the conventional bank with more than Rp 75 trillion in assets category. Danamon also received Indonesia Brand Champion 2012 and Indonesia Service to Care Champion 2012 awards from Marketers and Markplus Insight in the conventional bank with more than Rp75 trillion in assets category. Last year, Danamon placed third in the 2011 Annual Report Award (ARA) for the listed financial institution category.

From international institutions, Danamon received "Gold Award 2011" under category of Best Core Banking System Initiative, in the Asian Banking & Finance Banking Retail Awards 2011, hosted by Asian Banking & Finance Magazine (ABF).

Danamon is the sole issuer and acquirer of American Express® cards in Indonesia under an independent operator agreement which allows it to issue American Express cards to individual and corporate clients. Danamon is also the only bank which provides services to local merchants who accept American Express Cards and for signing up new merchant partners in Indonesia. Danamon is also the sole license holder of Manchester United cards in Indonesia, allowing the Bank to issue Manchester United ATM/Debit cards and credit cards.

PT Adira Dinamika Multi Finance Tbk (Adira), the automotive financing subsidiary of Danamon, operates an extensive branch network in more than 260 cities in Indonesia.

As of March 31, 2012, Danamon was 67.37% owned by Asia Financial (Indonesia) Pte. Ltd. and 32.63% by the public. On April 2, 2012, Danamon has been informed by Fullerton Financial Holdings Pte. Ltd., that it has entered into a share purchase agreement with DBS Group Holdings to sell its interest in the whole of the issued share capital of Asia Financial (Indonesia) Pte. Ltd. to DBS. The transaction is subject to the approvals, among others, of DBS shareholders and regulators in Singapore and Indonesia, including Bank Indonesia.

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