Danamon Announces Q1 2023 Financial Results

Jakarta, 28 April 2023 – PT Bank Danamon Indonesia Tbk (Danamon) made a strong start to the year with solid performance achievement in Q1 2023

Danamon has managed to achieve 15% Year on Year (YoY) growth in its Total Loan and Trade Finance reaching to Rp151.8 trillion in Q1 2023, which supported by growth in all business segments. In addition, PT Adira Dinamika Multifinance, Tbk. (Adira Finance), a subsidiary of Danamon, successfully booked a 48% growth in its new financing as compared to the same period of last year.

The Total Funding grew by 2% YoY reaching to Rp138.6 trillion. Danamon remained consistent through its institutional approach and digital channel development resulted in stable CASA balance and CASA ratio.  

In terms of profitability, Net Interest Margin (NIM) increased by 50bps YoY with stable quarterly trend. Meanwhile, Operating Income has increased by 6% YoY to Rp4.4 trillion and Net Profit After Tax (NPAT) reached Rp818 billion.

Danamon also committed to strengthen its Asset Quality with Loan at Risk (LAR) ratio – (include Covid-19 restructure under forbearance) was managed down to 12.7%, improved by 270 bps YoY, while improving its Non-Performing Loan (NPL) coverage ratio reaching record high at 254%.  

Daisuke Ejima, President Director of Danamon stated “This is only the beginning, we will keep innovating, finding better ways to serve and provide financial solutions for our customers, reaching new high in performance as well as strengthen the collaboration between MUFG and Adira Finance as one group.  It is proven that through the collaboration and MUFG ecosystem, we can reach much more in expanding our business and making contribution to Indonesian economy.”      

As a commitment to support the growth and advancement in digital, Danamon together with MUFG have announced placement in Garuda Fund, a venture fund dedicated for Indonesian startups managed by MUFG Innovation Partners (MUIP), MUFG's corporate venture capital arm. In collaboration with MUFG, Danamon also conducted Business and Investment Matching Fair 2023 to connect the business customers with MUFG’s ecosystem and provide Indonesian startups access to potential investors. Danamon and Adira Finance, supported by MUFG, became the Official Bank Partner and Official Multifinance Partner in Indonesia International Motor Show (IIMS) Jakarta 2023.

Awards and achievements

In addition with the strong performance in Q1 2023, Danamon received distinguished awards and recognitions including the LinkedIn Talent Awards 2022 by LinkedIn for category “Best Talent Acquisition Team”; Indonesia Human Resources Awards 2023 by Warta Ekonomi for category “The Best HR Management for the outstanding initiative in supporting the acceleration of forming employee capabilities (conventional bank)”; and the 6th Infobank Satisfaction, Loyalty & Engagement Awards 2023 by Infobank for several categories, including 1st ranking on Customer Service, Teller, and Security





For media inquiries, please contact:


Tarida Fransiska

Corporate Communications Manager

PT Bank Danamon Indonesia Tbk

Email: tarida.fransiska@danamon.co.id

Cindyani Lasmana

Corporate Communications Head

PT Bank Danamon Indonesia Tbk

Email: cindyani.lasmana@danamon.co.id