Danamon Welcomes New Customers as Acquisition of Standard Chartered Bank Indonesia’s Retail Loan Portfolio is Finalized

Press Release / 11 December 2023

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Jakarta, 11 December 2023 - PT Bank Danamon Indonesia Tbk (Danamon) today announced the finalization of the acquisition of the Standard Chartered Bank Indonesia (SCBI) conventional retail loan portfolio with good customer track record. Included in the acquisition are SCBI's Credit Card, Home Ownership Loans (KPR), Unsecured Loans (KTA), and Motor Vehicle Loans (KKB) customer portfolios.

“We are pleased to announce that the migration process has been completed as planned, thanks to good collaboration with SCBI and support from relevant regulators. On behalf of Danamon, I would like to welcome new customers to the Danamon ecosystem," said Hafid Hadeli, Vice President Director, PT Bank Danamon Indonesia Tbk.  

This acquisition is expected to further strengthen Danamon's business growth trend, especially in the consumer loan segment which currently had reached the highest growth rate of 31% YoY or Rp15.3 trillion as stated in Danamon's Q3 2023 financial report.

“Through the sale of our selected retail portfolio to Danamon, we are strategically positioning ourselves to intensify our focus on remaining retail business as well as strong corporate banking business, to provide enhanced services and value to our clients. Our appreciation goes to Danamon, and the support shown by the regulators for what have been a seamless sale process and migration,” said Andrew Chia, Cluster Chief Executive Officer, Indonesia, and ASEAN Markets (Australia, Brunei, and the Philippines), Standard Chartered.

New customers can also take control of their financial management with facilities that enable them to manage transaction information and credit card installments through the D-Bank PRO mobile banking app.  For more Danamon credit card promos, please visit bdi.co.id/promo. 

For more information on the transition process, transactions with existing cards and delivery of new cards, terms and conditions for complementary facilities for new customers, as well as other questions on the migration of SCBI customers to Danamon, you can contact Hello Danamon 1-500-090 or visit bdi.co.id/scb.

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