Danamon

Bank Danamon was established on July 16, 1956 under the name PT Bank Kopra Indonesia. [2] In 1976 the name of the bank was changed to PT Bank Danamon Indonesia. [2] This bank became the first bank to spearhead foreign exchange in 1976 [2] and listed its shares on the stock exchange since 1989. [2]nnIn 1997, as a result of the financial crisis in Asia, Bank Danamon experiencing liquidity problems, and finally by the government put under the supervision of IBRA or Indonesian Bank Restructuring Agency (in English known as IBRA) as the bank foreclosed Government (BTO-Bank Take Over). [2] In 1999, the Government through IBRA recapitalized Bank Danamon in the amount of Rp 32 billion in the form of Government Bonds (Government Bonds). In the same year, several BTO banks were eventually merged into one with Bank Danamon as part of the IBRA restructuring plan. [2]nnIn 2000, Bank Danamon expanded again by becoming the main bank in the merger of 8 other BTO banks. It was at this time that Bank Danamon began to emerge as one of the economic pillars in Indonesia.