Danamon Hopes to Grow Consumer Business Through Participation at 2024 IIMS

Press Release / 20 February 2024

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Jakarta, 20 February 2024 – This year marks the third year of PT Bank Danamon Indonesia Tbk (“Danamon”) and MUFG Bank Ltd. (MUFG) becoming the official bank partner and PT Adira Dinamika Multi Finance, Tbk. (“Adira Finance”) as the official multifinance partner and the official trade-in partner through momobil.id and momotor.id at the 2024 Indonesia International Motor Show (IIMS). Previously, the Group had also confirmed its support for IIMS until 2026, while underscoring its position as a key player in supporting the growth of the automotive industry in Indonesia.

Danamon is aware that the 2024 IIMS is part of Danamon's strategy to keep its positive performance and portfolio in the consumer business. The result of this approach is evident from Danamon's 2023 financial performance, which shows that the growth of automotive and multipurpose financing from Adira Finance - a subsidiary of Danamon - grew 25% YoY to reach Rp55.7 trillion. Danamon itself recorded an increase in the number of customers taking out automotive financing by 112% YoY and the total loan value by 98% YoY in 2023. 

"Reaffirming the commitment of Danamon, Adira Finance and MUFG to grow as the financial group of choice for customers and the Indonesian people, we in the Danamon consumer banking segment also continue to innovate to present products that are relevant and in line with the developing needs of our customers," said Ivan Jaya, Consumer Funding & Wealth Business Head PT Bank Danamon Indonesia Tbk. 

Danamon's automotive financing product is none of other than KPM Prima, which is a product in collaboration with Adira Finance. KPM Prima is a financing product for passenger cars - both new cars or used cars -, commercial cars, and motorbikes - both new premium bikes (motorcycles with OTR criteria > 100 million or CC > 500) or non-premium bikes (motorbikes outside the premium criteria bike), and Vespa, that are managed by Adira Finance, which is a subsidiary of Danamon. This product is offered to Danamon customers with competitive interest rates, simple document requirements, and a wide choice of insurance options.

Through stronger collaboration between Danamon, MUFG and Adira Finance, new financing at Adira Finance managed to increase by 31% YoY in 2023. Meanwhile, the number of Adira Finance customers who opened savings accounts with Danamon increased 11.2 times from around 69,000 in 2022 to more than 781,000 in 2023. The increase is in line with customers' needs for fast, easy, and safe financial solutions for vehicle financing, digital banking services, and investment solutions.

At the 2024 IIMS, Danamon offers the KPM Prima product as a concrete step in strengthening its commitment to answering these needs. With competitive interest rates starting from 1.99% throughout the exhibition period, KPM Prima can be a solution for visitors and customers who want to upgrade their vehicle or buy a new one. 

This year, Danamon also introduced the Danamon Optimal and KPM Prima bundling program at the 2024 IIMS. Danamon Optimal is an integrated financial solution specifically designed to meet the various financial planning needs of customers, especially those in the emerging affluent segment. Danamon Optimal covers services ranging from financial advisory to financial products such as home ownership loans, cash loans, and educational investments. KPM Prima installments taken by customers during the 2024 IIMS will be paid by Danamon in the amount of Rp500,000 per month if they join as a Danamon Optimal customer. 

On top of that, Danamon also offers savings promos of up to 100% for purchasing the 2024 IIMS entrance tickets and Infinite Live concerts, food, and drinks, as well as vehicle accessories in the aftermarket by using D-Bank PRO QRIS, Danamon Debit, Credit and Charge Cards, as well as installments 0% up to 12 months for transactions with Danamon Credit Cards and Charge Cards. 

"With innovative and comprehensive financial solutions as well as synergy and collaboration with MUFG and Adira Finance, Danamon stands ready to become the bank of choice for customers in realizing their dreams of upgrading or owning a new vehicle," Ivan concluded. 

For more information on programs and promos from Danamon at the 2014 IIMS, please visit bdi.co.id/iims2024.

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