CIMB Niaga president director Lani Darmawan
KUALA LUMPUR: PT Bank CIMB Niaga Tbk, a 92.5% indirectly held subsidiary of CIMB Group
Holdings Bhd, said it is positive over the remainder of 2024 as its long-term strategy remains firmly on track.
President director Lani Darmawan said the bank is in the midst of refining its strategic plan by leveraging its competitive strengths and analysing market trends.
"These strategic efforts are aligned with our vision to be a resilient, future-ready bank that delivers high-quality services, as well as innovative products to our customers by always inculcating #WorkFromHeart," she said in a statement.
For the nine-month period ended Sept 30, 2024, CIMB Niaga reported 5.1% year-on-year (y-o-y) growth in pre-tax profit to IDR6.6 trillion (RM1.85bil), which translates to earnings per share of IDR204.34.
CIMB Niaga said it maintained a solid capital and liquidity position with capital adequacy ratio (CAR) and loan to deposit ratio (LDR) of 23.4% and 84.3%, respectively.
Total consolidated assets stood at IDR354.3 trillion as at Sept 30, 2024, solidifying the bank’s position as Indonesia’s second largest privately owned bank.
Total deposits increased 8.8% y-o-y to IDR256 trillion, attributed to the strong current account and savings account (CASA) growth of 8.8% y-o-y to IDR170.7 trillion.
CIMB Niaga said this was achieved by fostering stronger customer relationships and enhancing the overall customer experience via digital touchpoints, bringing the CASA ratio to 66.7%.
Meanwhile, total loans/financing grew 6.4% y-o-y to IDR218.6 trillion with the highest growth from the small medium enterprise (SME) segment at 9.4% y-o-y, followed by corporate banking at 7.1% y-o-y and consumer banking at 5.4% y-o-y.
The increase in retail loans was largely contributed by auto loans, which grew 18.2% y-o-y.
In Sharia banking, CIMB Niaga's Islamic business unit (CIMB Niaga Syariah) remained the largest Unit Usaha Syariah (Islamic business unit) in Indonesia, with total financing rising 14.8% y-o-y to IDR60.7 trillion and deposits expanding 24.6% y-o-y to IDR53.2 trillion as at Sept 30, 2024.
It said the significant financing growth was mostly contributed by the retail segment.
Meanwhile, the bank said CIMB Niaga Syariah remains focused on growing funding composition especially focusing on low-cost funding by continuing to develop its community network.
