Danamon Provides Bridgestone With Financial Supply Chain Service

Press Release / 13 June 2017

Share

Jakarta, 13 June 2017. PT Bank Danamon Indonesia Tbk (“Danamon”) through its Transaction Banking (TB) line of business announced a cooperation agreement to provide Financial Supply Chain (FSC) service to PT Bridgestone Tire Indonesia (Bridgestone), which is part of the Bridgestone Corporation, the world’s largest rubber and tire producer. Danamon will assist Bridgestone in ensuring secured payments from distributors, optimal cash flow, and other functions to support a smooth business process. The signing of the agreement was conducted in Jakarta and attended by management from both companies.  

 “This cooperation is a form of Danamon’s commitment to provide banking products that answer the need of customers in growing their businesses, particularly in product distribution. This service also underscores Danamon’s strengths in providing integrated financing and supporting small and medium enterprises, which are Bridgestone’s distributors. We would like to thank Bridgestone for their trust in Danamon in managing their Financial Supply Chain,” Yen Yen Setiawan - Enterprise Banking, FI & TB Head, Danamon.

During the same event, Sales & Marketing Director of PT Bridgestone Tire Indonesia, Toshihiro Fujiki said, “The cooperation between Bridgestone and Danamon is expected to support our business partners, which are our distributors. We are confident that the flexible financing facility made possible by Danamon’s Financial Supply Chain can help our business partners in managing their finances and operational activities. Our cooperation with Danamon strengthens our drive to go forward and grow with our distributor.”

Though Danamon’s FSC service, PT Bridgestone Tire Indonesia receives a variety of benefits in distributor financing, including credit risk being borne by the bank, no need for direct collection, and no obligation to ask distributors for collaterals. Distributors also receive multiple benefits, such as lower collateral requirement compared to conventional financing and more flexible payment methods. The majority of Bridgestone distributors can enjoy these facilities.

ABOUT PT BRIDGESTONE TIRE INDONESIA

PT Bridgestone Tire Indonesia (Bridgestone Indonesia) is part of Bridgestone Corporation. Bridgestone Indonesia operates 2 factories in Bekasi and Karawang as well as a Proving Ground and Education Center. These facilities serve to raise our product and service quality to our customers. All of Bridgestone Indonesia’s products are available in our distributor network, TOMO (official outlets), Bridgestone Truck Center, BANDAG FCZ (Retread), and more than 1,500 stores that sells Bridgestone tires across Indonesia.

Bridgestone Corporation, headquartered in Tokyo, Japan, is the world’s largest rubber and tire producer. In addition to producing a variety of tire models for numerous types of vehicles, Bridgestone also produces diversified rubber and chemical products as well as sports equipment. These tire and other products are sold in more than 150 countries.

For more information, please contact :

PT Bridgestone Tire Indonesia

Corporate Communications Department

P          : +62 267 863 7921 – 863 7922

F          : +62 267 863 7923 – 863 7924

website: http://www.bridgestone.co.id/

Social media: Facebook (https://www.facebook.com/bridgestone.co.id/)

About Danamon:

PT Bank Danamon Indonesia, Tbk., founded in 1956, is committed to be a customer-centric organization that offers high quality products and services as well as supported by the latest technologies. This commitment is in line with its vision, “We care and enable millions to prosper”.

As of 31 March 2017, Danamon manages IDR 171 trillion in assets along with its subsidiaries, which are PT Adira Dinamika Multi Finance Tbk. (Adira Finance) and PT Asuransi Adira Dinamika (Adira Insurance). In terms of shareholding, 67.37% of Danamon shares are held by Asia Financial (Indonesia) Pte. Ltd., 6.58% by JPMCB-Franklin Templeton Investment Funds, and 26.05% by the public.

Danamon is supported by a network of more than 1,700 including conventional branches, syariah units, subsidiary outlets and more than 60,000 ATMs through partnership with ATM Bersama, PRIMA, and ALTO across 34 provinces.

As the exclusive issuer of Manchester United DEBIT/ATM and Credit Cards in Indonesia and issuer of American Express credit cards, Danamon offers more values to its customers. With a wide range of financial products such as Danamon Lebih, FlexiMax, Tabungan Bisa iB, Dana Pinter 50, KAB Bisa, and Primajaga insurance, Danamon enables customers from various segments to meet their financial needs. 

In addition to physical network, Danamon’s services can be accessed from Danamon Online Banking, D-Mobile and D-Card mobile application, and SMS Banking. 

Danamon received “The Best in the Financial Sector” and “Top 50 Publicly Listed Companies” awards during The 8^th Indonesia Institute for Corporate Directorship (IICD) Award 2016. Internationally, Danamon was awarded ‘Indonesia's 1st Best Local Cash Management Bank in the Small Size of Annual Sales Turnover’ from Asiamoney during the Asiamoney Summer Awards Dinner. In addition, Danamon received two awards from Retail Banker International’s Asia Trailblazer Awards 2017 in the Best Digital Marketing Campaign and Best Marketing Campaign Overall categories for the bank’s innovations in service and operations.

For more information and to be connected with Danamon, please visit www.danamon.co.id or Danamon’s official social media channels: Facebook (Bank Danamon), Twitter (@danamon), Instagram (@myDanamon), LinkedIn (PT Bank Danamon Indonesia Tbk).