JAKARTA (Yosefardi) – Shares of PT Bank Danamon Tbk (BDMN) declined 0.54% to Rp4,600 this morning after the company reporting flat growth in profit for 2013.
The stock however has dained 30% from its bottom last year. While shares of Adira Dinamika Multi Finance, the automotive financing subsidiary of Danamon, was traded flat at Rp8700 per share, but in very thin volume.
BDMN reported net profit growth of 0.7% only to Rp4.04 trillion last year (consolidated), way below Bank Mandiri (17.4%), BRI (14.3%) or even Bank Tabungan Negara (6.3%).
Adira booked net profit of Rp1.71 trillion last year, compared to Rp1.42 trillion in 2012. Revenue increased to Rp8.06 trillion from previous Rp6.75 trillion.
Adira operates an extensive branch network in more than 260 cities in Indonesia. Danamon is also the majority owner of PT Asuransi Adira Dinamika (Adira Insurance), a general insurance company and PT Adira Quantum Multifinance (Adira Kredit), a durable goods financing company.
As of December 31, 2013, Danamon was 67.37% owned by Asia Financial (Indonesia) Pte. Ltd., 6.40% by JPMCB-Franklin Templeton Investment Funds and 26.23% by the public.