Moody's Ratings affirms Bank Danamon's ratings; changes outlook to stable from positive
Moody's Ratings (Moody's) has affirmed Bank Danamon Indonesia TBK (P.T.)'s Baa1/P-2 long-term (LT) and short-term (ST) foreign currency (FC) and local currency (LC) deposit ratings, its A3/P-2 LT and ST FC and LC Counterparty Risk Ratings, as well as its A3(cr)/P-2(cr) LT and ST Counterparty Risk As...PT Bank Danamon Indonesia Tbk is a Indonesia-based bank primarily engaged in the provision of retail banking services. The Company's major business activities are classified into three segments: Retail, Midsize and Wholesale. Its Retail segment includes retail banking services, including unsecured personal loans, mortgages, credit card issuance, insurance business, consumer financing and pawnbroking services. Its Midsize segment provides small and medium enterprises with various commercial banking services, including Overdraft Facility, a short term loan facility for working capital purposes with option for annual renewal. Its Wholesale segment focuses on the provision of various corporate banking, financial institution and treasury services, such as cash management, working capital requirement, investment loan, trade finance and financial supply chain.
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