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Danamon appoints new commissioner, representing MUFG Bank
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A teller serves a customer at a Bank Danamon branch in Jakarta. (kompas.com/File)
B
ank Danamon Indonesia has announced the appointment of a new commissioner, a representative from Japan’s MUFG Bank, after the extraordinary meeting of shareholders on Monday.
Shareholders of the private lender agreed to the appointment of Yasuda as Bank Danamon’s new commissioner.
He currently serves as group chief risk officer of Mitsubishi UFJ Financial Group, Inc. and MUFG Bank chief credit officer. He has experience as a senior banker from Japan, the United Kingdom and the United States.
With his experience and expertise in the global banking industry, Yasuda’s appointment was aimed at strengthening the company’s leadership, especially in the areas of risk management and credit disbursement, the bank said in a statement.
The shareholders meeting also accepted the resignation of Ernest Wong Yuen Weng, who had previously served as Bank Danamon commissioner.
As of Sept. 30, 40 percent of Bank Danamon’s shares are owned by MUFG Bank, Ltd., 33.83 percent by Asia Financial (Indonesia) Pte. Ltd., 5.22 percent by JPMCB-Franklin Templeton Investment Funds and 21.95 percent by the public.
Previously, Bank Danamon sold an 80 percent stake in its subsidiary Adira Insurance to Zurich Insurance for $414 million.
Danamon has been struggling to boost profit growth. In the first nine month of 2018, it recorded Rp 3.03 trillion ($207 million) in net profit, which was similar to the figure in the corresponding period of last year. (bbn)
