Danamon

Ferry Wong, an analyst at Macquarie Research, said in a note that Yudhoyono's economic team was expected to continue to favour a low interest rate environment benefiting banks such as Danamon and Bank Negara Indonesia, as well as cement firms such as Indocement Tunggal Prakarsa and auto distribution firm Astra International.

Forbes.com: News 2009

"The potential in this market is huge," said Minhari Handikusuma , a director at Danamon who is spearheading its push into microlending.

Indonesia Banks Chase Microloans Eric Bellman 2011

Anton Gunawan, the chief economist for the Danamon Bank in Indonesia, agrees.

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Anton Gunawan, the chief economist for the Danamon Bank in Indonesia, agrees.

Asian Markets Plunge Continues 2011

Anton Gunawan, the chief economist for the Danamon Bank in Indonesia, agrees.

Asian Markets Plunge Continues 2011

At Danamon, microlending was less than 5% of its loan book six years ago.

Indonesia Banks Chase Microloans Eric Bellman 2011

But in Indonesia, the country's biggest banks, including Bank Mandiri and Bank Danamon, are powering growth in the market, which they say is under-served and lucrative.

Indonesia Banks Chase Microloans Eric Bellman 2011

"We may even see downward pressure on the yields of short-term bonds with maturities of up to five years," said Bank Danamon debt analyst Helmi Arman.

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Danamon figures more than 60% of small businesses in Indonesia, or more than 50 million entrepreneurs, aren't served by the country's banking system.

Indonesia Banks Chase Microloans Eric Bellman 2011

Oversight and risk management improved dramatically at Bank Danamon under the watchful eyes of Singapore's Temasek (which bought a stake, now at 67%, when the bank was denationalized), and at Bank NISP under OCBC Bank of Singapore (which gradually acquired a majority last decade, as the founding family diluted its holding).

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