CIMB Niaga Earns IDR 2.2 Trillion Profit In The First Quarter Of 2024

Photo: Doc. Antara

PT Bank CIMB Niaga Tbk (BNGA) recorded a profit before the consolidated tax (unaudited) of IDR 2.2 trillion in the first quarter of this year, or an increase of 7.8 percent year-on-year (yoy).

"Getting performance in the first quarter of 2024 is a manifestation of our consistency in strategies that focus on sustainable profit growth," said CIMB Niaga President Director Lani Darmawan in Jakarta, quoted from Antara, Thursday, May 2.

He said that with this achievement, his party could produce earnings per share of IDR 66.96. Meanwhile, CIMB Niaga's total consolidated assets amounted to IDR 333 trillion as of March 31, 2024.

In addition to profit, he said that the total Third Party Funds (DPK) also grew 3.3 percent yoy to Rp248 trillion, while the number of low-cost accounts and savings accounts (CASA) rose 8.9 percent yoy with a total ratio of 64.6 percent.

Lani said that the increase in the number of CASA was due to the company's efforts to maintain closer customer relationships and improve the overall customer experience through CIMB Niaga digital services.

"In the future, we will continue to carry out our commitment to improving customer experience through digital innovation. By utilizing digital capabilities, we are ready to create long-term value while continuing to prioritize the needs of stakeholders and contribute to Indonesia's economic welfare," he said.

His party is also trying to maintain solid capital and liquidity conditions with a capital adequacy ratio (CAR) and a loan to deposit ratio (LDR) of 24.5 percent and 84.2 percent, respectively.

Furthermore, Lani said that in the first quarter of this year his party had also agreed to distribute cash dividends of IDR 3.1 trillion, or 50 percent of the company's net profit (bank only) throughout the 2023 financial year as a form of appreciation for stakeholders.

He said that the dividend would be paid no later than 30 calendar days after the decision of the Annual General Meeting of Shareholders (AGMS) which was held on April 3.

"We are committed to continuing to create maximum added value for shareholders, with a strategic focus on profitable and sustainable business growth," he said.