 |
February 19, 2008 |
|
|
|
 |
BANK DANAMON: Plans to Raise IDR1.5-Trillion Bonds in H1 PT Bank Danamon Tbk plans to raise IDR1.5 trillion in bonds in the first half of this year to fund loan growth, Reuters reports, citing Bank Danamon President Director Sebastian Paredes. According to the report, Mr. Paredes said he was optimistic the bank would be able to raise the funds in the first half of the year despite turbulence in global financial markets. The bank, the report relates, aims to boost its lending by 22% this year from IDR53.33 trillion at the end of 2007, slightly slower than loan expansion of 24% last year. Bank Danamon's target was largely in line with the central bank and analysts' estimates for banking sector loan growth this year, the report says. Bank Danamon reported a 60% rise in its 2007 net profit due to strong loan growth and an improvement in its net interest margins, Harry Suhartono at Reuters writes. About Bank Danamon Headquartered in Jakarta, Indonesia, PT Bank Danamon Indonesia Tbk provides a range of products and services, including Consumer Banking, Small to Medium-Sized Enterprise and Commercial, Trade Finance, Treasury Product, Cash Management, Other Services, Financial Planning and e-Banking. Danamon Syariah is the Bank's business unit that provides its customers with syariah banking products and services. The bank also operates Danamon Simpan Pinjam, which caters to micro banking customers. DSP is divided into two groups: DSP to serve and help enterprises in micro and small-scale banking, and DSP for individual customers with fixed income. Bank Danamon is supported by 86 domestic branch offices, 325 domestic supporting branch offices, 25 domestic cash office, 739 supporting branches for DSP, six personal banking branch offices, 10 syariah branch offices and one overseas branch. The Troubled Company Reporter-Asia Pacific reported on Oct. 19, 2007, that Moody's Investors Service raised the foreign currency long-term debt and foreign currency long-term deposit ratings of PT Bank Danamon Indonesia Tbk: -- The foreign currency subordinated debt rating was raised to Ba2 from Ba3 -- Foreign currency long-term deposit rating to B1 from B2. -- The Not Prime foreign currency short-term deposit rating, Baa3 global local currency deposit rating and D BFSR were unaffected. On Aug. 15,2007, Fitch Ratings upgraded the National Long-term rating of PT Bank Danamon Indonesia Tbk to 'AA(idn)' from 'AA- (idn)') while affirming all its other ratings as follows: * Long-term foreign currency Issuer Default Rating 'BB-' with a Positive Outlook, * Short-term foreign currency IDR at 'B', * Individual Rating 'C/D', * Support Rating '4' and * Support Rating Floor 'B'. |
|
|
||
|
Today's Top Stories have been selected from the Troubled Company Reporter - Asia Pacific. To receive the Full TCR-AP please CLICK HERE.
