PT Bank CIMB Niaga Tbk reported an unaudited consolidated profit before tax of IDR4.2 trillion in the first half of 2023 representing a 25.8% year-on-year growth, translating to earnings per share of IDR129.67.
Commenting on the solid performance, President Director of CIMB Niaga Lani Darmawan said, “Our business performance and revenue growth remains solid in the first half of 2023. With strong cost controls, improved asset quality, and lower cost of credit, we were able to continue creating greater value for our shareholders, evidenced by the 15.4% return on equity achieved. It is worth underscoring the notable improvement in asset quality, as shown by the significant decline in gross non performing loans (“NPL”) to 2.5% in June 2023 from 3.5% in June 2022.
In line with strong underlying growth, CIMB Niaga’s key profitability indicator, ROE, improved to 15.4%. The bank maintains a solid capital and liquidity position with a capital adequacy ratio and loan to deposit ratio of 23.2% and 86.0% respectively.
In Sharia Banking, CIMB Niaga’s Islamic Business Unit (“CIMB Niaga Syariah”) maintained its position as the largest Islamic Business Unit in Indonesia, with total financing valued at IDR53.0 trillion (+25.3%) (including Salam financing) and deposits of IDR44.5 trillion (+20.4%) as at 30 June 2023.
