www.bisnis.com - JAKARTA:
PT Adira Dinamika Multi Finance Tbk will boost the performance of
sharia units with a target can contribute up to 15% of the total
business in the next 2-3 years.
Willy
Dharma Kelvin, President Director of Adira Dinamika Multi Finance
(Adira Finance) said that Islamic finance is huge potential in
Indonesia, because it has the largest Muslim population in the world.
"But
there are still obstacles due to lack of education and socialization of
Islamic finance to the public. For that we have a strategy to
strengthen the education and promotion of Islamic finance," he said last
week.
Subsidiary, PT Bank Danamon Indonesia Tbk has just set up a sharia units (UUS) in June. Through
this new business unit, the company is able to do financing (joint
financing) with some Islamic banks, including the parent company Danamon
Syariah. (source)
Showing posts with label danamon. Show all posts
Showing posts with label danamon. Show all posts
Thursday, August 23, 2012
Saturday, July 21, 2012
INDONESIA - BANKING - Bank Danamon shariah unit to inject capital
www.kontan.co.id - JAKARTA. Bank
Danamon Indonesia will increase its capital to Danamon Syariah worth Rp
344 billion, so that at the end of 2012 the total capital increased to
Rp 500 billion. This cash infusion to maintain a capital adequacy ratio or capital adequacy ratio (CAR) at position 12%.Danamon Syariah this year targeting business growth of 30%. If no additional capital, the CAR at 12% level by the end of June 2012, could be eroded again. "Therefore,
the holding company is committed to increase its capital to $ 344
billion. Was to maintain the CAR at this time," said Herry Hykmanto,
Director of Danamon Syariah, a few days ago. (source)
Friday, July 20, 2012
INDONESIA - REGULATIONS - Indonesia's new bank rules may not hit Maybank, CIMB
www.btimes.com.my - KUALA LUMPUR:Indonesia's central bank has
issued new rules limiting single ownership in domestic banks at 40 per
cent but allows exemptions that could let Malaysia's top two lenders
hold on to their controlling stakes in banks there.
Bank Indonesia, in a statement on Wednesday, said public-listed
financial institutions will be allowed to keep their current ownership
structures in Indonesian banks, provided they maintain high levels of
corporate governance and financial health, including a tier-1 capital
ratio of over six per cent.
From December 2013, those that see their corporate governance and financial health ratings fall to unacceptable levels for three consecutive reporting periods will have to sell their stakes down to the new limit. (source)
From December 2013, those that see their corporate governance and financial health ratings fall to unacceptable levels for three consecutive reporting periods will have to sell their stakes down to the new limit. (source)
INDONESIA - REGULATONS - Indonesia’s New Bank Ownership Rules Leave Door Open for DBS Deal
www.thejakartaglobe.com - Jakarta/Singapore. Indonesia’s central
bank will cap single ownership of domestic banks at 40 percent under
new rules but allow exemptions that could pave the way for DBS Group’s
$7.2 billion bid for Bank Danamon to proceed.
The long-awaited regulation announced on Wednesday is aimed at preventing lenders in the fast-growing G20 country falling captive to single interests and ensuring a diverse shareholder base to hold management accountable.
But the rules, which come on the back of ownership restrictions on mining companies, have fueled concerns Indonesia is becoming tougher on foreign investment.(source)
The long-awaited regulation announced on Wednesday is aimed at preventing lenders in the fast-growing G20 country falling captive to single interests and ensuring a diverse shareholder base to hold management accountable.
But the rules, which come on the back of ownership restrictions on mining companies, have fueled concerns Indonesia is becoming tougher on foreign investment.(source)
Wednesday, June 27, 2012
INDONESIA - REGULATIONS - DBS Indonesia Deal May Dodge New Bank Ownership Rules
www.thejakartaglobe.com - The gloom surrounding DBS Group’s $7.2 billion bid for Indonesia’s Bank
Danamon is giving way to renewed optimism, with signals from the central
bank in Jakarta on Tuesday suggesting the Singapore lender’s takeover
may just scrape through.
Southeast Asia’s biggest banking takeover bid was thrown into limbo in April, when Bank Indonesia (BI) announced it would not approve the deal to buy its sixth-biggest lender until it had published new regulations to cap ownership stakes in banks.
The central bank says it wants to prevent its lenders falling captive to single interests and ensure they have a diverse shareholder base holding management to account. (source)
Southeast Asia’s biggest banking takeover bid was thrown into limbo in April, when Bank Indonesia (BI) announced it would not approve the deal to buy its sixth-biggest lender until it had published new regulations to cap ownership stakes in banks.
The central bank says it wants to prevent its lenders falling captive to single interests and ensure they have a diverse shareholder base holding management to account. (source)
Monday, June 25, 2012
MALAYSIA - BANKING - CIMB takes aim at Goldman, JPMorgan
www.btimes.com.my - CIMB Group Holdings Bhd, Southeast Asia’s top-ranked investment bank
over the past three years, is taking aim at a bigger market following
its acquisition of some of Royal Bank of Scotland Group Plc’s operations
in Asia.
The Malaysian company can now compete with rivals including Goldman Sachs Group Inc and JPMorgan Chase & Co for Asia- Pacific deals, Chief Executive Officer Nazir Razak said in an interview in Kuala Lumpur. CIMB agreed in April to buy most of Edinburgh-based RBS’s investment banking and cash equities businesses in the region for US$142 million.
The acquisition, which initially seemed to be an “audacious” idea, will complete the bank’s operations and help CIMB boost market capitalization to more than RM100 billion (US$31 billion) by 2015, Nazir said. That’s about 75 percent more than its current value. The Kuala Lumpur-based lender also targets becoming one of the top three Southeast Asian banks by assets and return on equity. (source)
The Malaysian company can now compete with rivals including Goldman Sachs Group Inc and JPMorgan Chase & Co for Asia- Pacific deals, Chief Executive Officer Nazir Razak said in an interview in Kuala Lumpur. CIMB agreed in April to buy most of Edinburgh-based RBS’s investment banking and cash equities businesses in the region for US$142 million.
The acquisition, which initially seemed to be an “audacious” idea, will complete the bank’s operations and help CIMB boost market capitalization to more than RM100 billion (US$31 billion) by 2015, Nazir said. That’s about 75 percent more than its current value. The Kuala Lumpur-based lender also targets becoming one of the top three Southeast Asian banks by assets and return on equity. (source)
Tuesday, June 05, 2012
INDONESIA - BANKING - Islamic Mutual Funds Offer Bukopin
WWW.REPUBLIKA.CO.ID,
JAKARTA - PT Manulife Asset Management Indonesia (MAMI) signed a
cooperation with PT Bank Danamon to market investment funds, one of
which is Manulife Sector Amanah Syariah.
Islamic products will be marketed in 168 branches of Bank Danamon was appointed. The branch includes a branch of Islamic Bank Bukopin. "This product is one of five products that we market at MAMI Bukopin," said Director of Consumer Banking, Michellina Triwardhany, after signing the MoU between the Bank and Manulife Asset Management Bukopin in Jakarta, Monday (4/6).
Islamic products became popular because it has historically been a company that goes into it is a healthy company. It's just not Bukopin directing customers to this product. Customer asked to choose which products they want to invest. (source)
Islamic products will be marketed in 168 branches of Bank Danamon was appointed. The branch includes a branch of Islamic Bank Bukopin. "This product is one of five products that we market at MAMI Bukopin," said Director of Consumer Banking, Michellina Triwardhany, after signing the MoU between the Bank and Manulife Asset Management Bukopin in Jakarta, Monday (4/6).
Islamic products became popular because it has historically been a company that goes into it is a healthy company. It's just not Bukopin directing customers to this product. Customer asked to choose which products they want to invest. (source)
Sunday, June 03, 2012
INDONESIA - BANKING - Fitch: Indonesia Foreign Bank Ownership Double-Edged Sword
www.theindonesiatoday.com - Fresh banking capital will be needed to support the ongoing growth of the Indonesian economy, Fitch Ratings says.
The challenge in broad terms for the local regulator is to oversee the management of the financial system's risks in such a way that it is able to attract new capital to support this growth, while ensuring the accumulation of risk does not ultimately undermine the stability of the overall financial system.
The debate around Indonesian ownership rules is receiving increased attention due to the offer by SINGAPORE's DBS to acquire Bank Danamon. The regulator is widely expected to clarify its position soon. (source)
The challenge in broad terms for the local regulator is to oversee the management of the financial system's risks in such a way that it is able to attract new capital to support this growth, while ensuring the accumulation of risk does not ultimately undermine the stability of the overall financial system.
The debate around Indonesian ownership rules is receiving increased attention due to the offer by SINGAPORE's DBS to acquire Bank Danamon. The regulator is widely expected to clarify its position soon. (source)
Friday, June 01, 2012
INDONESIA - REGULATIONS - Maybank, CIMB can breathe a sigh of relief
www.btimes.com.my - CLOSE CALL: Indonesia’s 40pc single ownership restriction to affect only new investors
IT looks like the country's top two banks, Malayan Banking Bhd (Maybank)
and CIMB Group, can heave a sigh of relief as they won't be subject to
Indonesia's proposed new rules on bank ownership.
Reuters reported late yesterday that the Indonesian central bank planned to limit single ownership in its banks to 40 per cent, but only for new investments.
"This new regulation will only hold for new initiatives, new investments... there will not be a retroactive regulation," Halim Alamsyah, the central bank deputy governor responsible for banking supervision, told analysts on a conference call, the news wire said. (source)
Reuters reported late yesterday that the Indonesian central bank planned to limit single ownership in its banks to 40 per cent, but only for new investments.
"This new regulation will only hold for new initiatives, new investments... there will not be a retroactive regulation," Halim Alamsyah, the central bank deputy governor responsible for banking supervision, told analysts on a conference call, the news wire said. (source)
INDONESIA - REGULATIONS - Indonesia Bank Ownership Plans Seen Hitting DBS Buy
www.thejakartaglobe.com -Indonesia’s central bank on Thursday
proposed capping single ownership in the country’s banks at 40 percent
for new investment, a rule that would scupper a $7.3 billion bid by
Singapore’s DBS Group Holdings for Bank Danamon.
Halim Alamsyah, the central bank deputy governor responsible for banking supervision, told analysts on a conference call that its proposal is for individuals or families to only own up to 30 percent of local lenders, while financial institutions would be able to own up to a maximum of 40 percent. (source)
Halim Alamsyah, the central bank deputy governor responsible for banking supervision, told analysts on a conference call that its proposal is for individuals or families to only own up to 30 percent of local lenders, while financial institutions would be able to own up to a maximum of 40 percent. (source)
Friday, May 25, 2012
INDONESIA - BANKING - Indonesia ruling may hurt Malaysian banks' earnings
www.btimes.com.my - KUALA LUMPUR: Malaysia's top two banks could be
dealt a bigger blow than expected if Indonesia limits the maximum stake a
single shareholder can own in its banks to below 50 per cent, as news
reports from Jakarta suggested.
A Reuters report yesterday said Bank Indonesia was set to announce next
month a reduction in the single-shareholder threshold from 99 per cent
currently to a level below 50 per cent. It quoted unnamed sources with
direct knowledge of the plan.
A Bisnis Indonesia report, also quoting sources, said the central bank planned to limit the ownership in banks to 40 per cent for financial institutions, 30 per cent for non-financial institutions and 20 per cent for individuals. (source)
A Bisnis Indonesia report, also quoting sources, said the central bank planned to limit the ownership in banks to 40 per cent for financial institutions, 30 per cent for non-financial institutions and 20 per cent for individuals. (source)
INDONESIA - BANKING - DBS bid to take over Danamon in limbo
www.thejakartapost.com -A proposed change to Indonesia's bank ownership limits is threatening to dash DBS Group's bid to take over Bank Danamon.
INDONESIA - REGULATONS - Indonesia Set to Cap Bank Owners’ Stakes: Sources
www.thejakartaglobe.com - Singapore/Jakarta. Indonesia’s central
bank is set to limit the maximum stake a single shareholder can take in
the country’s banks to below 50 percent, a move that could scupper
Singapore-based DBS Group’s $7.3 billion bid for Bank Danamon.
DBS’s acquisition plans were thrown into limbo late last month when the Indonesian central bank said it would not approve the deal until it had published a long-awaited set of rules on bank ownership. Bank Indonesia did not disclose details of the rules at the time. (source)
DBS’s acquisition plans were thrown into limbo late last month when the Indonesian central bank said it would not approve the deal until it had published a long-awaited set of rules on bank ownership. Bank Indonesia did not disclose details of the rules at the time. (source)
Thursday, May 10, 2012
INDONESIA - BANKING - Sampoerna family moves into banking (Islamic micro finance by July 2012)
www.thejakartapost.com - Open
for business: President director of Bank Sahabat Sampoerna Indra W.
Supriadi (from left), Michael Sampoerna, the owner of Sampoerna
Strategic Group and Bank Indonesia’s director Mulya Siregar during the
launch of Bank Sahabat Sampoerna in Jakarta on Wednesday evening.
JP/Wendra AjisyatamaWidely diversified business group
Sampoerna launched PT Bank Sahabat Sampoerna on Wednesday, aiming for
the largely untapped but lucrative small and micro-businesses.
Although the sector has already seen the presence of various big banks, Bank Sahabat Sampoerna president director Indra W. Supriadi said the market was still large enough for a new player. (source)
Although the sector has already seen the presence of various big banks, Bank Sahabat Sampoerna president director Indra W. Supriadi said the market was still large enough for a new player. (source)
Thursday, May 03, 2012
INDONESIA - BANKING - Bank of Indonesia’s plans will hurt CIMB, Maybank
biz.thestar.co.my - Analyst says Indonesia’s moves to impose new shareholding caps will have negative impact
PETALING JAYA: All eyes are now on Malaysia's two biggest banks, CIMB Group Bhd and Malayan Banking Bhd (Maybank), as speculation that Bank of Indonesia (BoI) plans to impose new caps on single-shareholder stakes in the country's commercial banks as early as this month has resurfaced.
The news that BoI was seeking to limit single-shareholder stakes for commercial banks was first reported in July last year.
Alliance Research analyst Cheah King Yoong viewed such a development to be potentially negative for CIMB and Maybank, given their majority stakes in their respective Indonesian banks. (source)
PETALING JAYA: All eyes are now on Malaysia's two biggest banks, CIMB Group Bhd and Malayan Banking Bhd (Maybank), as speculation that Bank of Indonesia (BoI) plans to impose new caps on single-shareholder stakes in the country's commercial banks as early as this month has resurfaced.
The news that BoI was seeking to limit single-shareholder stakes for commercial banks was first reported in July last year.
Alliance Research analyst Cheah King Yoong viewed such a development to be potentially negative for CIMB and Maybank, given their majority stakes in their respective Indonesian banks. (source)
Saturday, April 28, 2012
INDONESIA - BANKING - Muamalat SALES: Management did not know
www.bisnis.com - JAKARTA:
The process of selling shares of the banking entities not included in
the bank's business plan submitted to Bank Indonesia because it is not
the authority of management.
Andi Buchari, Director of Compliance of PT Bank Muamalat Indonesia Tbk, said the company never included the proposed sale of shares held by existing investors in the bank's business plan.
"[The sale] does not make a business plan, because it's what the business plan contains what should be done by management," he said today is Thursday, April 26, 2012. (source)
Andi Buchari, Director of Compliance of PT Bank Muamalat Indonesia Tbk, said the company never included the proposed sale of shares held by existing investors in the bank's business plan.
"[The sale] does not make a business plan, because it's what the business plan contains what should be done by management," he said today is Thursday, April 26, 2012. (source)
INDONESIA - BANKING - BI Delays Approval For DBS Acquisition
www.thejakartaglobe.com - Bank Indonesia will not approve DBS Group Holdings’ $7.3 billion
acquisition of local lender Bank Danamon Indonesia until it clarifies
foreign-ownership rules for Indonesian banks, the central bank head said
on Friday.
Bank Indonesia will issue new bank ownership rules by the end of May before evaluating DBS’s planned takeover, BI Governor Darmin Nasution said.
The new ownership rules, he said, will ban non-financial institutions from owning a majority stake in a local bank, but will be more relaxed toward foreign and local banks owning a majority share.
“They have to wait until we finish it,” Darmin said. “This is for the sake of prudence, not because we are trying to block foreigners.” (source)
Bank Indonesia will issue new bank ownership rules by the end of May before evaluating DBS’s planned takeover, BI Governor Darmin Nasution said.
The new ownership rules, he said, will ban non-financial institutions from owning a majority stake in a local bank, but will be more relaxed toward foreign and local banks owning a majority share.
“They have to wait until we finish it,” Darmin said. “This is for the sake of prudence, not because we are trying to block foreigners.” (source)
Thursday, April 12, 2012
INDONESIA - BANKING - BI to Implement Multiple Lincense to Foreign Banks
www.theindonesiatoday.com - JAKARTA, Indonesia Today - The central bank, Bank Indonesia (BI), plans to implement multiple license to foreign banks operating in Indonesia, Bisnis Indonesia reported this morning.
Muliaman D. Hadad, BI's governor deputy, said the multiple license implementation is inline with other countries' policies that do not give equal access to Indonesian banks for expansion.
He said BI's plan to limit foreign ownership in local banks will not be implemented in the near term as BI must synchronize with the government's regulation. (source)
Muliaman D. Hadad, BI's governor deputy, said the multiple license implementation is inline with other countries' policies that do not give equal access to Indonesian banks for expansion.
He said BI's plan to limit foreign ownership in local banks will not be implemented in the near term as BI must synchronize with the government's regulation. (source)
INDONESIA - BANKING - Bank Indonesia Uses DBS’s Danamon Bid to Negotiate
www.thejakartaglobe.com - Bank Indonesia will seek talks on reciprocity with Singapore as a condition for the central bank’s approval of DBS Group’s bid to acquire Bank Danamon Indonesia, its deputy governor said.
The central bank wants equal treatment for Indonesian banks to operate in Singapore, deputy governor Halim Alamsyah said in Jakarta on Wednesday.
Singapore-based DBS offered to buy Jakarta-based Danamon for about $7.2 billion on April 2 in the biggest takeover by a lender in Southeast Asia. Acquiring Indonesia’s sixth-largest bank by assets will help DBS branch out from Singapore and Hong Kong to tap an economy that grew last year at the fastest pace since before the Asian financial crisis. (source)
The central bank wants equal treatment for Indonesian banks to operate in Singapore, deputy governor Halim Alamsyah said in Jakarta on Wednesday.
Singapore-based DBS offered to buy Jakarta-based Danamon for about $7.2 billion on April 2 in the biggest takeover by a lender in Southeast Asia. Acquiring Indonesia’s sixth-largest bank by assets will help DBS branch out from Singapore and Hong Kong to tap an economy that grew last year at the fastest pace since before the Asian financial crisis. (source)
Tuesday, April 10, 2012
INDONESIA - BANKING - DBS Told 80% Is Cap for Indonesia's Bank Danamon
www.thejakartaglobe.com - DBS Group Holdings, Southeast Asia’s largest bank, must sell shares of Bank Danamon Indonesia back to the public if it owns more than 80 percent of the lender after a takeover, according to the Indonesian bourse.
DBS offered to buy Jakarta-based Danamon for about $7.2 billion on April 2 in the biggest takeover by a Southeast Asian lender.
The bank would pay Singapore’s Temasek Holdings Rp 45.2 trillion ($4.9 billion) in new shares for its 67 percent stake and buy the remaining stock from other shareholders for Rp 21.2 trillion in cash. (source)
DBS offered to buy Jakarta-based Danamon for about $7.2 billion on April 2 in the biggest takeover by a Southeast Asian lender.
The bank would pay Singapore’s Temasek Holdings Rp 45.2 trillion ($4.9 billion) in new shares for its 67 percent stake and buy the remaining stock from other shareholders for Rp 21.2 trillion in cash. (source)
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