Financing Disbursed By CIMB Niaga Reaches IDR 211.6 Trillion In The First Quarter Of 2024

Illustration. (Photo: Doc. Antara)

JAKARTA - President Director of PT Bank CIMB Niaga Tbk (CIMB Niaga) Lani Darmawan said that the amount of credit or financing disbursed by his party grew 6 percent year-on-year (yoy) in the first quarter of 2024 to a total of IDR 211.6 trillion.

"Healthy credit or financing growth and indicators of improving asset quality are a strong basis for us to continue to provide more value," said Lani Darmawan in a statement in Jakarta, quoted from Antara, Saturday, May 4.

He said that the segment that contributed the most to credit growth as a whole was the Small and Medium Enterprises (SME) segment which rose 9.4 percent yoy and the consumer banking segment which grew 6.9 percent yoy.

In addition to conventional business units, he said that credit growth also occurred in CIMB Niaga's sharia business unit, namely CIMB Niaga Syariah, with total financing of IDR 56.2 trillion, or an increase of 15.4 percent yoy, thanks to the contribution of the retail segment.

The highest growth in the retail segment occurred in car ownership loans (KPM) which increased by 15.8 percent yoy.

Regarding the use of financing, Lani said that almost 26 percent of total financing or around IDR 54.8 trillion was used to support a sustainable low-carbon economic transition.

He stated that thanks to the company's commitment to the green economy, CIMB Niaga won the award as The Best Sustainability-Linked Loan for Manufacturing and The Best Green Loan for Utility at The Assets Triple A Awards.

Although the disbursed financing has increased, Lani said that his party can still maintain effective cost management, as can be seen from the cost-to-income ratio (CIR) which is still below 45 percent.

"This achievement reflects our commitment to continue to provide sustainable profitability and strengthen our confidence in positive prospects for the remainder of the year," he said.