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Authorities approve MUFG Bank's 40% ownership in Bank Danamon
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A teller serves a customer at a Bank Danamon branch in Jakarta. (kompas.com/File)
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rivate lender PT Bank Danamon Indonesia announced on Tuesday that the Financial Service Authority (OJK) had approved the increase of MUFG Bank’s ownership in the former through both direct and indirect acquisition.
MUFG Bank, previously known as The Bank of Tokyo-Mitsubishi UFJ, will increase its ownership in Bank Danamon to 40 percent, after the completion of an additional 20.1 percent acquisition of the bank’s shares from Asia Financial Indonesia (AFI) and other affiliated entities.
“The second phase transaction was announced by MUFG Bank on Dec. 26, 2017,” said Bank Danamon corporate communications head Atria Rai in a statement received by The Jakarta Post on on Tuesday, adding that AFI would still own 33.8 percent of Bank Danamon’s shares.
Atria said MUFG Bank planned to complete the 20.1 percent share transaction as soon as possible, and would abide by the existing regulations.
“As one of the largest banks in Indonesia, we will focus on the long term interests of all stakeholders and shareholders,” Atria said, adding that the management would still be committed to implementing the company’s strategy.
Atria stressed that bank services would continue as usual. (bbn)
