CIMB Indonesia, PT Bank CIMB Niaga Tbk reported an unaudited consolidated net profit of IDR1.2 trillion in the first quarter of 2022, representing a 19.9% year-on-year growth, and translating to earnings per share of IDR47.89.
President Director of CIMB Niaga Lani Darmawan said, “We had a strong first quarter, with earnings topping IDR1.2 trillion and continued the momentum from a solid performance in 2021. Healthy growth in operating income, well-managed operating expenses, and lower provisioning drove the performance in 1Q22. Our strong results reflect the positive economic recovery and the progress we have made on our strategic priorities.” CIMB Niaga’s capital adequacy ratio (“CAR”) and loan to deposit ratio (“LDR”) were strong at 23.1% and 76.1% respectively as at 31 March 2022.
Total assets stood at IDR 307.4 trillion as of 31 March 2022, CIMB Niaga remains in its position as Indonesia’s second-largest privately owned bank by assets. Total deposits stood at IDR237.3 trillion with the CASA ratio at 63.6%, driven largely by the Bank’s continuous commitment to deepen the relationship with customers through state-of-the-art digital banking services and improved customer experience. Total loans stood at IDR182.7 trillion contributed mainly by 12.4% Y-o-Y growth in the Consumer Banking segment. Mortgages grew by 9.2% Y-o-Y, while auto loans rose by 48.8% Y-o-Y.
In the Sharia Banking segment, CIMB Niaga’s Islamic Business Unit maintains its position as the largest Islamic Business Unit in Indonesia, with total financing valued at IDR38.1 trillion (+17.4% Y-o-Y) and deposits at IDR40.1 trillion (+35.4% Y-o-Y) as at 31 March 2022
CIMB Niaga continues to develop digital-based products to complement the offerings at existing branches. As at 31 March 2022, 97% of total customer transactions were made through branchless banking channels such as OCTO Mobile, OCTO Clicks, Automated Teller Machines (“ATMs”), and Rekening Ponsel (mobile wallet). To support its business growth, CIMB Niaga continues to improve customer experience by offering a comprehensive suite of products and services through 418 branches (including 34 mobile branches and 36 digital lounges). As at 31 March 2022, the Bank’s nationwide network operated 4,431 ATMs (including 936 cash deposit and recycle machines) and 258,376 electronic data capture points (“EDCs & QR”).
