Danamon achieves ISO

Danamon achieves ISO

JAKARTA: Newly divested Bank Danamon announced on Thursday
that it had won ISO 9001 for quality management from PT SGS
International Certification Services Indonesia.

The company, in a statement, said that the award was in line
with the company's success in increasing its net profit as of May
this year to Rp 559 billion (US$68 million) from Rp 346 billion
in the same period last year.

Danamon's non-performing loan (NPL) was down to 3.4 percent as
of May this year, from 4.4 percent in December 2002. However, its
capital adequacy ration (CAR) declined to 24.9 percent from 25.3
percent in December last year.

A consortium of Temasek Holdings Pte. Ltd. and Deutsche Bank
own a 51 percent stake in the bank after it won an auction in
May. -- JP