Just Three Months, Bank CIMB Niaga Can Generate IDR 996 Billion Profits

Bank CIMB Niaga officials posing at an event some time ago. (Photo: By courtesy)

JAKARTA - PT Bank CIMB Niaga Tbk reported a consolidated net profit of Rp996 billion in the first quarter of 2021.

CIMB Niaga President Director Tigor M. Siahaan said that the positive achievement was supported by operating income and operating profit before provision which grew by 8.3 percent and 16.1 percent year-on-year (yoy), respectively.

It was stated that this achievement resulted in a level of profitability to pre-pandemic levels with a Return on Equity (ROE) of 10.5 percent.

"This performance is a contribution from higher margins, an increase in fee income, and flat operating costs," he said.

Tigor added, in line with improving economic indicators, the company believes that the 2021 business trip will be even better supported by the principle of prudence in expansion.

"We are still vigilant and focused on efforts to develop the bank's business supported by digital transformation in order to improve services for customers," he said.

Furthermore, CIMB Niaga's Capital Adequacy Ratio (CAR) and Loan to Deposit Ratio (LDR) were recorded at 22.1 percent and 85.3 percent, respectively. Then, this BUKU IV category bank claims to have total assets of Rp. 272.6 trillion.

Then from the liquidity side, third party funds (TPF) were recorded at Rp. 200.1 trillion with a CASA ratio of 63.3.

For the intermediation function, the amount of credit extended was Rp. 173.4 trillion, mainly contributed by the consumer banking business, which grew by 1.6 percent yoy.

Then, Home Ownership Loans (KPR) grew 5.2 percent, and Car Ownership Loans (KPM) increased by 5.4 percent.

"The growth in the KPR segment is a testament to the continuous efforts we are making to deliver products according to customer needs," said Tigor.

Meanwhile, CIMB Niaga Syariah has successfully maintained its position as the largest sharia business unit in Indonesia, with total financing reaching IDR 32.4 trillion and DPK IDR 29.6 trillion as of March 31, 2021.