KUALA LUMPUR, July 30 — CIMB Group Holdings Bhd’s 92.5 per cent-held indirect subsidiary, PT Bank CIMB Niaga Tbk (CIMB Niaga) today reported an unaudited consolidated net profit of 2.1 trillion rupiah, an increase of 22.2 per cent year-on-year (y-o-y) in the first half of 2021 (1H21).
CIMB Niaga president director Tigor M. Siahaan attributed the growth to the 8.7 per cent y-o-y increase in operating income while operating expenses were generally flat, resulting in an improvement in the company’s cost-to-income ratio at 45.1 per cent, while loan loss provision inched higher by 5.1 per cent.
“Despite the encouraging 1H21 results, we remain cautiously optimistic in light of the resurgence of Covid-19 outbreak.
“We remain focused on growing the bank’s business with the execution of our five-pillar strategy where we engage our customers with our best banking services, supported by digital transformation and data analytics,” he said in a filing with Bursa Malaysia today.
According to the filing, as at June 30, 2021, CIMB Niaga’s capital adequacy ratio and loan-to-deposit ratio were strong at 22.1 per cent and 78.4 per cent, respectively.
With total assets of 288.9 trillion rupiah as at June 30, 2021, CIMB Niaga maintained its position as Indonesia’s second-largest privately-owned bank by assets, the bank said.
It said total deposits stood at 218.1 trillion rupiah with the current account savings account ratio standing at 62.4 per cent.
Total loans stood at 173.4 trillion rupiah, mainly due to the five per cent y-o-y growth in the consumer banking segment, it added.
Meanwhile, in the Shariah banking segment, 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 33.1 trillion rupiah and deposits at 37.1 trillion rupiah as at June 30, 2021. — Bernama
