Bank Danamon Signs SCBI Loan Portfolio Acquisition Agreement

Rupiah (Photo: Doc. Antara)

JAKARTA - PT Bank Danamon Indonesia Tbk (BDMN) acquired a Conventional Standard Chartered Bank Indonesia (SCBI) retail loan portfolio with a good customer track record.

This portfolio consists of Credit Cards, Non-Auguration Credit (KTA), Home Ownership Loans (KPR) and Motor Vehicle Loans (KKB).

"I want to ensure that both Danamon and SCBI are fully committed to a smooth and smooth transition process, so that customers can enjoy access to the ecosystem and the capabilities of the entire Danamon group," said Bank Danamon Deputy President Director Hafid Hadeli quoting Antara, Monday, April 17.

The acquisition process is expected to be completed in the fourth quarter of 2023, following the requirements of the relevant regulators.

Through this acquisition, Danamon aims to strengthen the consumer business, which is one of the main drivers of its business growth.

The move is also expected to further accelerate the growth of the Danamon consumer loan portfolio, which has grown significantly by 18 percent on an annual basis in 2022.

Meanwhile, Cluster Chief Executive Officer of ASEAN Markets Standard Chartered said this diversion was part of a Standard Chartered Group strategy update announced in 2021.

This move allows Standard Chartered to focus on providing innovative Wealth Management and Deposito products to Priority Banking customers, accelerate the digitalization agenda to serve Mass Retail customers, and continue to develop our Corporate, Commercial and Institutional Banking businesses in Indonesia.

"We remain committed to continuing to grow and invest in Indonesia, which is an important center of economic activity in ASEAN for Standard Chartered," he said.