RATING - Bank Danamon Indonesia Tbk.

PEFINDO affirmed the ratings of PT Bank Danamon Indonesia, Tbk. (the Bank or BDMN) and its bond I/2007 at “_idAA+”.  At the same time, PEFINDO assigned “_idAA+” rating to the Company’s proposed Bond II/2010 of up to IDR3.0 trillion.  Outlook for these ratings is “stable”.  The ratings reflect its very strong market position, very sound capitalization, favorable profitability, and strong support from the Bank’s majority shareholder.  However, the ratings are constrained by lower liquidity.


Founded in 1956, the Bank has grown to become the sixth-largest commercial bank in the country.  Currently, the Bank focuses on mass market segment (micro and retail banking) while maintaining SME and corporate banking businesses.  At end-June 2010, the Bank was 67.43% owned by Asia Financial Indonesia Pte. Ltd. (AFI) and 32.57% by public.  The ultimate shareholder of AFI is Temasek Holding Pte. Ltd (rated at AAA/Stable by S&P), an investment holding company of Government of Singapore.  The Bank delivers its banking services through 79 branches, 1,411 sub-branches (including Danamon Simpan Pinjam units), 11 sharia branches and 1 overseas branch in Cayman Islands.  BDMN’s delivery channel is also supported by mobile banking and 860 ATMs that are connected to ATM Bersama Network.  BDMN employs 50,948 employees.

Source : http://new.pefindo.com/r_releasedetail.php?cid=754 - Oct 28, 2010