Through 3-Year Support for IIMS, Danamon and Adira Finance supported by MUFG Affirm Commitment to Support a Resilient and Sustainable Automotive Industry Ecosystem

Press Release / 12 July 2023

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Jakarta, 12 July 2023 - PT Bank Danamon Indonesia Tbk (“Danamon”) together with PT Adira Dinamika Multi Finance, Tbk (“Adira Finance”) and supported by MUFG Bank Ltd. (MUFG), are proud to announce the group’s support for the next 3 years (2024 – 2026) at the announcement of Indonesia International Motor Show (IIMS) 2024, one of the biggest automotive events in the country, as Official Bank Partner and Official Multifinance Partner, as well as Official Trade in Partners (momobil and momotor). This support was formalized through the signing of an MoU on 7 July 2023 at Senayan Mall Park, South Jakarta, that reaffirms Danamon's commitment to support the progress of the Automotive industry as one of the main contributors to the recovery and growth of the national economy. 

IIMS as One of the Drivers of Growth for Indonesia’s Automotive Industry

IIMS 2024 will offer an unlimited experience to visitors, in line with the tagline "Your Infinite Autotainment Experience". This concept will combine elements of Automotive exhibition and entertainment whereby visitors will be able to enjoy a variety of exciting and interactive entertainment programs and activities from Automotive communities, as well as the IIMS Infinite Live music concert which will feature a line-up of well-known Indonesian performers, making it an excellent opportunity for more visitors and Automotive industry players in various regions in Indonesia to enjoy an extraordinary experience.

As for Indonesia's Automotive growth potential, Danamon predicts that on the macro level, Indonesia's economic growth is expected to grow at a stable rate of above 5% year-on-year in the next 3 years. According to Danamon’s Economist, Irman Faiz, the global economic slowdown in 2023 will indeed pose a significant challenge, but the solid recovery of domestic demand after the reopening of domestic mobility can sustain the stability of economic growth this year. The improvement in domestic demand will certainly encourage the domestic industry, including the Automotive sector. In the first quarter of 2023, the growth of the Indonesian Automotive industry was the highest among other manufacturing sub-sectors which reached 17.3%. In addition, the Government's aggressive efforts to transform the economy by downstreaming industries are also expected to sustain growth in the next three years. In the latest Macroeconomic Framework issued by the Government, Indonesia's economic growth is estimated to grow 5.0-6.0% in the next three years. Looking at these projections, Danamon believes that the IIMS event, both in 2024 and in the next three years, will still be sufficient to attract the interest of many people.

MUFG, Danamon, and Adira Finance's Unique Position to Serve the Entire Financial Supply Chain of Indonesia's Automotive Industry

Danamon's commitment, together with Adira Finance and supported by MUFG, to continue to support IIMS for the next three years based on an understanding of the important role of the Automotive industry. Therefore, as a local bank with global capabilities that is supported by MUFG's strength, expertise, and network, Danamon stands ready to serve customers and facilitate business growth to create long-term value for all stakeholders. Furthermore, together with its subsidiary, Adira Finance, Danamon is also ready to provide solutions for all financial needs for all customers occupying both the upstream and downstream sectors to create and maintain efficiency and competitive advantage, including Consumer, Small and Medium Enterprises (UKM), Wholesale (Corporate and Commercial), both Conventional and Sharia, as well as Automotive financing through Adira Finance.

This means that in addition to facilitating retail customers to own their dream vehicle, Danamon also offers its Transaction Banking capabilities to serve corporate, individual and SME customers such as aftermarket and accessories entrepreneurs. For these customers, Danamon offers Cash Management, Trade Finance and Financial Supply Chain Services that are constantly refined with various innovations and adjustments to the unique needs of each customer. This is supported by the development of networks for cash withdrawals and deposits, as well as the utilization of digital services through the development of D-Bank PRO features, a digital platform for individuals and Danamon Cash Connect (DCC), a platform for businesses; foreign exchange payment services as an Appointed Cross Currency Dealer; development of API Central such as API Debit, API Transfer (BI-Fast), and Virtual Account; and partnerships with strategic digital companies and startups.

Danamon with Adira Finance and Supported by MUFG Affirm Commitment to Support the Creation of a Resilient and Sustainable Automotive Industry Ecosystem

In light of the successful collaboration for IIMS 2022 and 2023, Danamon together with Adira Finance and supported by MUFG believe that Dyandra Promosindo as the organizer of IIMS is the right partner in achieving the Group's aspiration to facilitate the creation of a resilient and sustainable Automotive industry ecosystem.

"This support for IIMS is in line with Danamon's long-term strategy to expand our business and customer base through an ecosystem approach. Danamon is determined to be there for and grow with every part of the Automotive industry ecosystem. This is in line with Danamon's vision of "Caring and Enable Millions to Prosper", where Danamon aims to support sustainable economic recovery and growth, among others by building a strong Automotive industry ecosystem," said Daisuke Ejima, President Director, PT Bank Danamon Indonesia Tbk.

This spirit is in line with the theme of Danamon's anniversary this year: TUMBUH BERSAMA, through which Danamon reiterates its commitment to being a one stop financial solution provider that helps customers’ growth and progress in achieving various financial goals at every stage of their lives.

"Through active participation in Automotive exhibition events such as IIMS, we aim to strengthen and gain market share in the Automotive business by providing product diversification and attractive sales programs for customers, maintaining strong partnerships with business partners and recognizing the latest trends in the Automotive industry. This is in line with the company's mission to provide a variety of financial solutions according to the needs of each customer through synergy with the ecosystem," said Dewa Made Susila, President Director of PT Adira Dinamika Multi Finance, Tbk.

"MUFG is committed to constantly contribute to shape a brighter future for the Automotive ecosystem in Indonesia. We are pleased to be able to provide support for the third time for the IIMS Automotive event with our local strategic partners, Danamon and Adira Finance. Together in the spirit of #OneMUFG, we will continue to combine global and domestic collaboration capabilities in a comprehensive manner to serve the broadest range in the Automotive industry, create a strong financial chain and become a trusted financial partner. We hope that future IIMS events can always gain success and contribute to Indonesia's economic growth," concluded Tadanobu Hirano, Managing Director, Deputy Head of Japanese Corporate Banking, MUFG Bank, Ltd., Jakarta Branch.

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