Danamon Announces Retirement of Henry Ho as President Director; Danamon will propose Sng Seow Wah as President Director and Muliadi Rahardja as Vice President Director in the next EGMS.

09 December 2014

Jakarta - PT Bank Danamon Indonesia, Tbk, (‘Danamon’) today announces that Henry Ho will retire from his position as the Bank’s President Director. Danamon will propose Sng Seow Wah as President Director to succeed Henry Ho. In addition, Danamon will propose Muliadi Rahardja as Vice President Director. The retirement and the new appointments will be tabled for shareholders approval in an Extraordinary General Meeting of Shareholders (EGMS) to be convened and announced in due course.

An experienced banker, Sng Seow Wah was selected following a search locally and regionally and after taking Danamon’s Nomination Committee’s recommendation into consideration. He has passed a Fit and Proper Test administered by the Financial Services Authority (OJK).

Muliadi Rahardja, a member of Danamon’s Board of Director since 1999, has had extensive banking experience and has served Danamon in various capacities since 1989. His appointment is subject to the approval of the OJK.

The Board of Commissioners would like to express its deep appreciation to Henry Ho for his dedicated service to Danamon during the 5 years he served as President Director and wishes him well as he pursues his own personal interests.

Profile of Sng Seow Wah:

An experienced banker, Sng Seow Wah did a successful assignment in Malaysia as Group Chief Executive Officer of Alliance Bank Malaysia Berhad, a subsidiary of Alliance Financial Group Berhad. from 2010 to 2014. Previously, he served as the Head of Human Resources, Special Projects and Corporate Communications of Fullerton Financial Holdings (International) Pte. Ltd.. He has extensive experience in commercial banking, having assumed high level positions in major banks such as OCBC Bank, Citibank N.A. Singapore, Westpac Banking Corp., and Banque Nationale De Paris. Sng Seow Wah holds a Bachelor's Degree in Accountancy from the National University of Singapore and attended an Advanced Management Program at The Wharton School of the University of Pennsylvania.