CIMB Niaga Tbk reported an unaudited consolidated profit before tax of IDR2.2 trillion in the first quarter of 2024 (“1Q24”),
representing a 7.8% year-on-year (“Y-o-Y”) growth, translating to earnings per share of IDR66.96.
President Director of CIMB Niaga Lani Darmawan said, “We are delighted to announce a good start to 2024. Our healthy loan growth and improved asset quality indicators have laid a robust foundation for value creation, complemented by effective cost management with cost to income ratio (“CIR”) coming in below 45%. These achievements reflect our unwavering commitment to delivering sustainable profitability and reinforcing our confidence on a positive outlook for the remainder of the year.”
CIMB Niaga maintains a solid capital and liquidity position with capital adequacy ratio (“CAR”) and loan to deposit ratio of 24.5% and 84.2% respectively. Total consolidated assets stood at IDR333.0 trillion as of 31 March 2024, solidifying the Bank’s position as Indonesia’s second largest privately owned bank.
Total deposits increased to IDR248.0 trillion (+3.3% Y-o-Y), showcasing a robust current account and savings account ratio of 64.6%. Meanwhile CASA grew by 8.9% Y-o-Y, which was achieved by fostering stronger customer relationships and enhancing the overall customer experience via digital touchpoints.
CIMB Niaga has announced a cash dividend of Rp3.1 trillion, representing 50% of FY2023 net profit (bank only). The decision received approval at the Annual General Meeting of Shareholders held on Wednesday, April 3, 2024.
