Jakarta, 2 May 2019 – PT Bank Danamon Indonesia Tbk (“Bank Danamon”) and PT Bank Nusantara Parahyangan Tbk (“Bank BNP” or “Merged Bank”), a member of Mitsubishi UFJ Financial Group, Inc. (“MUFG”) have completed their legal merger process. Effective on 1 May 2019, Bank BNP is merged with Bank Danamon as the Surviving Bank.
Following the legal merger, all rights and obligations, as well as assets and liabilities of Bank BNP shall by law be transferred to Bank Danamon.
With the completion of the legal merger, MUFG Bank, Ltd. (“MUFG Bank”), the core banking unit of MUFG, will become the controlling shareholder of Bank Danamon, which will allow greater collaboration and synergy that will positively contribute to the growth of the Indonesian banking sector and economy as a whole.
MUFG is one of the world’s leading financial groups. We believe that MUFG’s investment in Bank Danamon will add value to our customers and franchise, and help us continue to grow as a leading bank in Indonesia. We will be able to tap on MUFG’s strengths, expertise and network to facilitate Bank Danamon’s growth and delivery of long term value to all stakeholders.
Products and Services
At this stage, products and services will remain unchanged for customers of the Merged Bank. Both banks will be undertaking an operational merger process over the course of the next several months to harmonize our products, services, systems, and networks. We will ensure a seamless integration process in order to minimize any impact to our customers’ banking activities. Any changes to our products and services will be advised to customers in due course.
Customers of the Merged Bank may start enjoying Bank Danamon’s network distribution, products and services (including nationwide branches and ATM network) after the operational integration process has been completed later in the year. The completion of the operational integration and changes to our products and services will be announced through Bank Danamon official channels in due course.