CIMB Indonesia unit, PT Bank CIMB Niaga Tbk reported an audited consolidated profit before tax of IDR8.4 trillion in 2023, representing a 27.0% year-on-year growth, translating to earnings per share of IDR259.45.
President Director of CIMB Niaga Lani Darmawan said, “Our stellar performance in 2023 is a reflection of our resilience, agility, and customer-centric approach. We continue accelerating profitable growth, as evidenced by the notable increase in profit before tax, reaching IDR8.4 trillion, the highest recorded to date. It is noteworthy to highlight the significant improvement in asset quality, as indicated by the substantial decrease in gross non-performing loans (“NPL”) from 2.8% in December 2022 to 2.0% in December 2023. We remain steadfast in our pursuit of excellence, providing unparalleled financial solutions to meet the evolving and wide-ranging needs of our customers.”
CIMB Niaga maintained a solid capital and liquidity position with a capital adequacy ratio (“CAR”) and loan to deposit ratio (“LDR”) of 24.0% and 89.3%, respectively. Total consolidated assets stood at IDR334.4 trillion (+9.0% Y-o-Y) as of 31 December 2023, solidifying the Bank’s position as Indonesia’s second largest privately owned bank.
Total deposits increased to IDR235.9 trillion (+3.8% Y-o-Y), showcasing a robust current account and savings account (CASA) ratio of 63.9%, as well as underscoring CIMB Niaga’s commitment in fostering stronger customer relationships and enhancing the overall customer experience via digital touchpoints. This is evident from the 86% of time deposits originating from digital channels.
Meanwhile, total loans/financing grew 8.5% Y-o-Y to IDR213.4 trillion with the highest growth from Corporate Banking of 11.7% Y-o-Y, followed by SME at 9.5% Y-o-Y and Consumer Banking at 6.9% Y-o-Y. Increase in retail loans were largely contributed by growth from auto loans of 15.7% Y-o-Y. In Sharia Banking, CIMB Niaga’s Islamic Business Unit (“CIMB Niaga Syariah”) maintained its position as the largest Unit Usaha Syariah (Islamic Business Unit) in Indonesia, with total financing
valued at IDR55.2 trillion (+17.0% Y-o-Y) and deposits of IDR44.9 trillion (+13.7% Y-o-Y) as at 31 December 2023.
