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Indonesia

BEST BANK
Bank Danamon

BEST EQUITY HOUSE
Mandiri Sekuritas

BEST DEBT HOUSE
Trimegah Securities

BEST M&A HOUSE
CSFB

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In a country mired in corruption – and that includes the banking system – it is refreshing to find a domestic bank that is producing consistently solid results from a balance sheet that can withstand scrutiny. Bank Danamon, Indonesia's eighth-largest bank by assets, wins the best bank in Indonesia award for just such a performance.

Owned 66% by a consortium of Singapore private equity firm Temasek Holdings and Deutsche Bank, Danamon is a full-service banking business in the retail, corporate and wholesale banking sectors. With 740 branches and offices and 26,000 employees, it is focused towards Indonesia's vast retail sector, including low-income households, and Shariah-compliant and consumer finance through Adira Finance.

Bank Danamon has grown significantly in the past few years, with uninterrupted growth in net income for the past five, reaching $250 million by fiscal year 2004, where the return on average assets was 4.8% and return on average equity an excellent 38.6%. The bank's first-quarter results for 2005 showed another strong performance. The cost-to-income ratio fell to just 41% and gross NPLs to 2.86%.

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