Danamon and MUFG Indonesia explore potential integration by 2027

The integrated bank will remain a consolidated subsidiary of MUFG Bank.

PT Bank Danamon Indonesia has signed a memorandum of understanding (MOU) with MUFG Bank’s Indonesian operations to explore the potential integration between them.

At this stage, both Danamon and MUFG Indonesia have agreed to commence preparatory work with a view toward entering into a binding agreement at a later date, the two companies said in a joint statement on 11 May 2026.

If they proceed, the integration will take effect within 2027. This planned integrated bank will remain a consolidated subsidiary of MUFG Bank, Ltd.

Until the integration is completed, there will be no changes to the business operations of Danamon and MUFG Indonesia, they said.

Customers may still continue to transact and utilize their respective products and services as usual, with no changes to the existing products and services, general current operating hours, or branch networks, the two companies said.

All contractual relationships between the two companies and their respective partners will also remain unchanged, they said.

Danamon is a private-owned commercial bank established in 1956. It became a consolidated subsidiary of MUFG Bank in 2019.

MUFG Indonesia is the Jakarta-based branch of MUFG Bank, and has been operating there since 1968.