KUALA LUMPUR: CIMB Group Holdings Bhd
’s Indonesian subsidiary PT Bank CIMB Niaga Tbk (CIMB Niaga) posted an audited consolidated profit before tax of 8.7 trillion rupiah for the financial year ended Dec 31, 2024 (FY2024), reflecting a 4.4 per cent increase year-on-year (y-o-y).
In a statement today, CIMB Niaga said this performance resulted in earnings per share of 271.59 rupiah, contributing to the bank’s continued growth.
Its president director Lani Darmawan said the performance in the financial year underscores the success of its "Forward23+” strategic plan, which has consistently driven sustainable growth across its core business segments.
"These efforts have enabled us to deliver customised financial solutions and generate significant value for our customers and society at large.
"Furthermore, our commitment to maintaining robust asset quality is reflected in the reduction of our gross non-performing loans, which decreased to 1.8 per cent in 2024 from 2.0 per cent in the previous year,” she said.
These accomplishments reaffirm our dedication to responsible banking practices and our mission to create enduring value for all stakeholders, she added.
Looking forward, Lani said the bank is accelerating its digital transformation, expanding its product portfolio, and strengthening technological capabilities to drive future growth.
"As we navigate evolving market dynamics and seize emerging opportunities, we remain committed to delivering consistent value and long-term profitability for our stakeholders,” she said.
CIMB Niaga reported that the total consolidated assets stood at 360.2 trillion rupiah as at Dec 31, 2024, while total deposits rose 10.5 per cent y-o-y to 260.6 trillion rupiah, attributed to the strong current account and savings account (CASA) growth of 14.2 per cent y-o-y to 172.1 trillion rupiah, bringing the CASA ratio to 66 per cent.
"This was achieved by fostering stronger customer relationships and enhancing the overall customer experience via digital touchpoints,” the bank said.
Meanwhile, the total loans or financing grew 6.9 per cent y-o-y to 228.0 trillion rupiah, with the highest growth from the small and medium enterprises segment at 9.1 per cent y-o-y, followed by corporate banking (8.3 per cent y-o-y), and consumer banking (5.4 per cent y-o-y).
"The increase in retail loans was largely contributed by auto loans, which grew 26 per cent y-o-y,” it said.
In Shariah banking, CIMB Niaga’s Islamic business unit (CIMB Niaga Syariah) maintained its position as the largest "unit usaha shariah” (Islamic business unit) in Indonesia, with total financing rising by 9.1 per cent y-o-y to 60.3 trillion rupiah and deposits surging by 21.7 per cent y-o-y to 54.7 trillion rupiah as at Dec 31, 2024.
"The significant financing growth was mostly contributed by the retail segment,” the bank said. - Bernama
