TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search results
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search resultsDanamon appoints new commissioner, representing MUFG Bank
Change text size
Gift Premium Articles
to Anyone
Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
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)
