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View all search resultsDanamon looks to broaden market reach through integration
The plan to integrate the operations of private lender Bank Danamon with the local branch of Japan’s MUFG Bank comes as Indonesia’s Financial Services Authority (OJK) pushes for further consolidation to improve efficiency in the domestic banking industry.
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Nobuya Kawasaki, chief executive officer of private lender Bank Danamon, poses in this undated photograph. (Bank Danamon/-)
B
ank Danamon is pushing ahead with its plan to integrate its own operations with the local branch of Japan’s MUFG Bank as Indonesia’s Financial Services Authority (OJK) encourages further consolidation to improve efficiency in Indonesia’s banking industry.
Bank Danamon president director Nobuya Kawasaki spoke to The Jakarta Post’s Ni Made Tasyarani and Mark Lempp about the integration strategy and growth opportunities the lender sees in Indonesia.
Question: Your plan is to complete the integration of MUFG and Bank Danamon next year. Where are you now in that process?
Answer: I have to say that this integration is not an easy process. We have to do many alignments in many functions. And this will take time, but still, we are on track and things are progressing. Once we get more clarity, we will gradually disclose our progress to the public.
This is in line with the OJK's push to consolidate banks in Indonesia. How do you plan to stay competitive?
