Bank Danamon Partners with Mercedes-Benz Distribution Indonesia and Daimler Commercial Vehicles Indonesia on Dealer Financing

Press Release / 16 December 2019

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16 December 2019 – PT Bank Danamon Indonesia Tbk (“Bank Danamon”) announced today that it has signed a dealer financing agreement with PT Mercedes-Benz Distribution Indonesia (“MBDINA”) and PT Daimler Commercial Vehicles Indonesia (“DCVI”), subsidiaries of Daimler AG in Indonesia. The agreement allows dealer partners of both companies to access financing from Bank Danamon. This partnership is a result of collaboration with MUFG, as the controlling shareholder of Bank Danamon, which has a strong relationship with Daimler AG, the parent company in Germany, connecting Bank Danamon with its Indonesia subsidiaries.

“We are very excited of this partnership, and we are very honored to work together with one of the world’s most prominent automotive company. We want to thank PT Mercedes-Benz Distribution Indonesia and PT Daimler Commercial Vehicles Indonesia for their trust in Bank Danamon. This partnership will enable us to support the growth of dealer partners of Mercedes-Benz passenger cars and commercial vehicles in Indonesia through financing. This partnership is a result of effective collaboration with our controlling shareholder, MUFG, which has a strong relationship with Daimler AG. This allows MUFG to connect Bank Danamon to Daimler AG’s subsidiaries in Indonesia and its dealer partners. This is concrete example of how MUFG-Bank Danamon collaboration brings values to the business ecosystem of our respective partners and clients. With Bank Danamon’s strong local expertise and broad local network, we are confident that this partnership will benefit and add further values to all parties involved,” said Yasushi Itagaki, President Director, Bank Danamon.

Choi Duk Jun, President Director, PT Mercedes-Benz Distribution Indonesia says: “The partnership of Bank Danamon with PT Mercedes-Benz Distribution Indonesia is a result of our commitment to supporting our dealer partners. We trust that with this co-operation, our Mercedes-Benz passenger cars dealer partners will be offered more efficient financing facilities for their business operations. As such, our dealer partners are able to serve our customers better”.

Jung-Woo Park, President Director of PT Daimler Commercial Vehicles Indonesia also added, “Daimler Commercial Vehicles Indonesia (DCVI) has welcomed Bank Danamon as our trusted financing partner based on our global long-lasting partnership. Today marks the first milestone to the growth of Bank Danamon and Mercedes-Benz businesses in Indonesia. Thank you for all parties who made sure, that this partnership happened. By progressing together, we as DCVI believed, together with our dealer partners supported by Bank Danamon, we can bring more values to the economy growth in Indonesia.”

Through this Dealers Financing Program, both Mercedes-Benz commercial vehicles as well as Mercedes-Benz passenger cars dealer partners across Indonesia will have access to financing facility that will enable them to grow their business and operations. They will enjoy competitive interest rate and collateral terms.