Dentons HPRP’s Banking and Finance team successfully assisted PT Bank Danamon Indonesia Tbk in the conditional acquisition of performing loan portfolios of Standard Chartered Bank Indonesia. These portfolios consist of credit cards, personal loans, mortgage loans, and auto loans. The transaction parties signed the agreement in Jakarta (17/4).

Expected to be completed in the fourth quarter of 2023, this acquisition is aimed at strengthening Danamon’s consumer business, which is one of its main business growth drivers, as well as creating economies of scale from investments in branch networks, digital banking and other capabilities. As part of MUFG, the largest bank in Japan and one of the leading financial institutions in the world, this step further accelerates the growth of Danamon's consumer loan portfolios, which have grown significantly by 18% in 2022.

Led by Partner Fabiola Hutagalung, supported by Senior Associate Citra Ayu Kusumawardhani and Associate lawyers Ronny Chrismanto Ginting, Fremi Rovi Raturandang, Shevanya Raina Kinanti Putri, Hilwa Az Zahra Adwani, Cattelya Nabila Mediarman, and Nikita Priscilla, Dentons HPRP’s Banking and Finance team assisted Danamon throughout the transaction in, among others, conducting legal due diligence, preparing transaction documents, negotiating, advising the proposed scheme, compliance with the prevailing regulations, as well as in discussions with other advisors.

With its extensive experience in the Banking and Finance practice, Dentons HPRP has been successfully assisting corporations in various industries. Please contact the partner listed under key contact for further details.

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