CIMB Niaga posts consolidated net profit of RM283m in 1Q21

KUALA LUMPUR, April 30 — PT Bank CIMB Niaga Tbk (CIMB Niaga) today reported an unaudited consolidated net profit of 996 billion rupiah (RM283 million) in the first quarter of 2021 (1Q21).

President director Tigor M. Siahaan said CIMB Niaga garnered strong growth in operating income and pre-provisioning operating profit of 8.3 per cent year-on-year (y-o-y) and 16.1 per cent y-o-y respectively in 1Q21, bringing the company to pre-Covid-19 profitability levels and return on equity (ROE) of 10.5 per cent.

“This performance is attributed to higher margins, an increase in fee income and a flat operating cost,” he said in a filing with Bursa Malaysia today.

With total assets of 272.6 trillion rupiah as at March 31, 2021, Tigor said CIMB Niaga maintained its position as Indonesia’s second largest privately owned bank by assets.

Besides, he said, total deposits stood at 200.1 trillion rupiah with the current account savings account (CASA) ratio standing at 63.3 per cent, driven largely by the bank’s continuous commitment to digital enhancement and customer experience.

“We strive to continue providing the best innovation in our comprehensive digital banking ecosystem to strengthen CIMB Niaga’s position as the leading digital bank in Indonesia,” he said.

Tigor also revealed the total loans stood at 173.4 trillion rupiah contributed mainly from 1.6 per cent y-o-y growth in the consumer banking segment.

Mortgages grew by 5.2 per cent y-o-y while auto loans rose by 5.4 per cent y-o-y.

“The growth in the bank’s mortgage segment is a testimony of our continuous efforts to deliver products and services that meet customers’ needs, with prudent and strict oversight imposed on loan disbursements,” he said.

Meanwhile in the shariah banking segment, CIMB Niaga’s Islamic business unit (CIMB Niaga Syariah) maintains its position as the largest Islamic business unit in Indonesia, with total financing valued at 32.4 trillion rupiah and deposits at 29.6 trillion rupiah as at March 31, 2021.

On its outlook, Tigor said the bank believes that 2021 would be a better year in line with the improved economic indicators.

However, it will remain cautious given the recent global resurgence of the Covid-19 pandemic. — Bernama

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