KUALA LUMPUR: CIMB Group Holdings Bhd's 92.5% indirectly held Indonesian subsidiary PT Bank CIMB Niaga Tbk (CIMB Niaga) posted a pre-tax profit IDR6.6 trillion in 2022 (FY22), up 26.7% year-on-year (YoY), translating to earnings per share of IDR202.2.
“Amid the Indonesian economic recovery from global uncertainty and challenges, we captured the opportunity to boost our bank’s growth as evidenced by an increased profit before tax, reaching IDR6.6 trillion, its highest to date,” CIMB Niaga president director Lani Darmawan said in a statement.
She said the bank’s 5 Pillar Strategy including the digital transformation program in all business segments remained its long-term strategic priority.
“Looking ahead into 2023, our strategic initiatives are focused in the area of consumer banking and CASA growth through digital proliferation, further asset quality improvement, non-interest income contribution and digital banking innovation through advanced technology with a wide range of customised services,” Lani said.
CIMB Niaga’s capital adequacy ratio (CAR) and loan-to-deposit ratio (LDR) closed at 22.2% and 85.6% respectively as at Dec 31, 2022.
Its total consolidated assets stood at IDR307 trillion as of Dec 31, solidifying the bank’s position as Indonesia’s second-largest privately owned bank.
Total deposits reached IDR227 trillion with CASA ratio rising to 63.6%.
CIMB Niaga’s total loans/financing grew 9.4% YoY to IDR199 trillion (or IDR197 trillion excluding Salam financing) contributed mainly by growth in corporate banking and consumer banking.
Mortgages grew by 7.0% YoY, while auto loans rose 35.3% YoY, including contributions from the Bank’s subsidiary, PT CIMB Niaga Auto Finance.
In Sharia banking, CIMB Niaga's Islamic Business Unit (CIMB Niaga Syariah) maintained its position as the largest Islamic business unit in Indonesia, with total financing valued at IDR49.3 trillion (including Salam financing) and deposits at IDR39.5 trillion as at Dec 31.
CIMB Niaga continues to develop digital-based products to complement the offerings at existing branches. As of Dec 31, 97% of total customer transactions were made through branchless banking channels such as OCTO Mobile, OCTO Clicks, automated teller machines and Rekening Ponsel (mobile wallet).