Bank Danamon Confirms Acquisition Of Standard Chartered Credit Portfolio This Month

Illustration (Photo: Doc. Antara)

PT Bank Danamon Indonesia Tbk (BDMN) revealed that the acquisition of the Standard Chartered Bank Indonesia (SCBI) credit portfolio will be completed in December 2023.

Unsecured Business Head of Bank Danamon Tresia Sarumpaet said, with the completion of the acquisition process, credit card services, home ownership loans (KPR) to unsecured loans (KTA) and SIMI Motor Vehicle Loans (KKB) will be transferred to Bank Danamon.

"The process itself (will be completed) this weekend. So after this weekend, customers of credit cards, mortgages or mortgages and unsecured loans (KTA) Standard Chartered will move to Danamon," Tresia said at the Journalist Class event at Danamon Bank Tower, South Jakarta, Tuesday, December 5.

Tresia added that one of the reasons for the acquisition of SCBI's conventional retail loan portfolio was to develop its current retail business.

"Of course it is one of Bank Danamon's strategies to develop its retail business in accordance with the risk of the bank as well," he explained

Tresia said the total value of assets taken over reached IDR 1 trillion for consumer loan or consumer credit products.

As is known, SCBI has signed an agreement with Bank Danamon Indonesia to transfer the conventional credit card portfolio, personal loan (CCPL), mortgage, and auto loan on April 17, 2023.

Through this acquisition, Danamon aims to strengthen Consumer's business, which is one of its main business growth drivers, and create economies of scale from investment in branch networks, digital banking, and other capabilities.