CIMB Niaga posts consolidated net profit of 996 Billion rupiah in 1Q21

President director Tigor M. Siahaan

KUALA LUMPUR: PT Bank CIMB Niaga Tbk (CIMB Niaga) posted an unaudited consolidated net profit of 996 billion rupiah in the first quarter of 2021 (1Q21), translating to earnings per share of 39.95 rupiah.

“CIMB Niaga garnered a strong growth in operating income and pre-provisioning operating profit of 8.3% year-on-year (y-o-y) and 16.1% y-o-y respectively in 1Q21, bringing us to pre-Covid-19 profitability levels and return on equity (ROE) of 10.5%. This performance is attributed to higher margins, an increase in fee income, and a flat operating cost,” president director Tigor M. Siahaan said in a statement.

“In line with the improved economic indicators, we believe that 2021 would be a better year however, we remain cautious given the recent global resurgence of the COVID-19 pandemic.

“We continue to be vigilant and focused on growing the Bank’s business by engaging our customers with the best banking services and solutions, supported by digital transformation as we enhance our customers’ experience and improve productivity,” he said.

CIMB Niaga’s capital adequacy ratio (CAR) and loan to deposit ratio (LDR) were strong at 22.1% and 85.3% respectively as at March 31.

With total assets of 272.6 trillion rupiah as at March 31, CIMB Niaga maintained its position as Indonesia's second largest privately-owned bank by assets.

Its total deposits stood at 200.1 trillion rupiah with the CASA ratio standing at 63.3%, driven largely by the bank’s continuous commitment to digital enhancement and customer experience.

“We strive to continue providing the best innovation in our comprehensive digital banking ecosystem to strengthen CIMB Niaga's position as the leading digital bank in Indonesia.

“CIMB Niaga’s OCTO Mobile is a key example of our innovative digital solutions that offers a complete set of banking features, designed to work as a SuperApp. It enables customers to perform numerous banking activities, including savings, transactions, investments, and loans," Tigor said.

CIMB Niaga’s total loans stood at 173.4 trillion rupiah contributed mainly from 1.6% y-o-y growth in the consumer banking segment. Mortgages grew by 5.2% y-o-y, while auto loans rose by 5.4% y-o-y.

In the Sharia banking segment, CIMB Niaga's Islamic Business Unit maintains its position as the largest Islamic Business Unit in Indonesia, with total financing valued at 32.4 trillion rupiah and deposits at 29.6 trillion rupiah as at March 31.

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CIMB Niaga , Tigor M. Siahaan


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