DANAMON ANNOUNCES FIRST HALF 2023 FINANCIAL RESULTS

Press Release / 31 July 2023

Share

Jakarta, July 31, 2023 – PT Bank Danamon Indonesia Tbk (“Danamon” or “the Bank”) announced its Financial Results for the First Half 2023 virtually through a Press Conference in Jakarta today.

Danamon reported a consolidated Net Profit After Taxes (NPAT) of Rp1.5 trillion in the First Half of 2023.

The Total Loan and Trade Finance grew by 15% Year on Year (YoY), reaching Rp161 trillion, as a result of stronger loan growth across all business segments. Enterprise Banking & Financial Institution’s Loan rose by 11% YoY to reach Rp74 trillion and Loan from PT. Adira Dinamika Multi Finance Tbk. (Adira Finance), a subsidiary of Danamon, grew 24% YoY reaching Rp50.9 trillion. In addition, Adira Finance successfully booked a 43% growth in its new financing as compared to the same period of last year. Consumer loan achieved the highest growth rate, at 28% YoY reaching Rp14.2 trillion, higher than last quarter’s 24% growth. While SME loan showed a 7% YoY increase.

Total Funding increased by 5% YoY reaching Rp140.8 trillion. Our granular funding continued to grow by 6.4% YoY.

Net Interest Margin (NIM) continued to increase by 35 bps. Meanwhile, Operating Income has increased by 6% YoY to Rp8.8 trillion.

Danamon also committed to strengthening its Asset Quality with Loan at Risk (LAR) ratio - (include Covid-19 restructure under forbearance) managed down to 12.9%, improved by 210 bps YoY. Non-Performing Loan (NPL) coverage ratio reached record high at 259.9% as the Bank continues to maintain prudence in the midst of loan growth.

The Bank’s Capital Adequacy Ratio (CAR) remains one of the strongest in its category. Consolidated CAR was 28.2% as of the first half of 2023, far above the minimum requirement.

“The continued achievement in Loan growth followed by improving NIM and Operating Income reflected that Danamon is on the right track on its strategy and investment to attain a sustainable growth for the Bank. We will fully maximize our uniqueness as a hybrid bank, combination of strong local presence and expertise with global capabilities and network through MUFG ecosystem to expand our business and reach new height in our performance,” said Daisuke Ejima, President Director of PT Bank Danamon Indonesia Tbk.

Danamon is also committed to focus on its customer’s needs and find best ways in providing holistic financial solution for them. Through the theme of Danamon’s 67th Anniversary, TUMBUH BERSAMA, Danamon aims to emphasize its willingness to always be there supporting the growth of its customers, business partners, employees, communities and will support the growth of Indonesia’s economy.

###

For media inquiries, please contact: