PT Bank Danamon Indonesia Tbk : Danamon Simpan Pinjam Forms Partnership with USAID
05/08/2012| 11:49am US/Eastern
Enabling Easier Access to Working Capital Financing for
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
It is hoped that the partnership would result in better
access for agribusinesses to receive financing as a means to
fund their working capital.
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