KUALA LUMPUR, Feb 21 — CIMB Group Holdings Bhd’s 92.5 per cent indirectly-owned subsidiary, PT Bank CIMB Niaga Tbk (CIMB Niaga), posted an audited consolidated net profit of 4.1 trillion Indonesian rupiah in financial year 2021 (FY2021), a 103.8 per cent year-on-year (y-o-y) growth translating into earnings per share of 164.5 rupiah.

CIMB Niaga director Lani Darmawan said the results were encouraging with a double-digit return on equity (ROE) despite continued challenges due to the ongoing Covid-19 pandemic.

“We are optimistic that the recovery of economic and business activities across industries will continue in 2022.

“Therefore, we are cautiously optimistic of a better financial performance in 2022, driven by loan and operating income growth, complemented by strong discipline in cost management,” he said in a statement and filing with Bursa Malaysia.

He revealed the CIMB Niaga’s capital adequacy ratio (CAR) and loan to deposit ratio (LDR) were strong at 22.7 per cent and 74.4 per cent respectively as at Dec 31, 2021.

With total assets of 310.8 trillion rupiah as at Dec 31, 2021, CIMB Niaga maintained its position as Indonesia’s second-largest privately owned bank by assets.

CIMB Niaga also had total deposits at 241.4 trillion rupiah with the current account savings account (CASA) ratio rising to 61.3 per cent.

“Current account and savings account grew by 35.1 per cent (y-o-y) and 6.9 per cent (y-o-y)  respectively driven largely by the bank’s continuous commitment to digital enhancement and customer experience,” he said.

Meanwhile, total loans stood at 181.6 trillion rupiah contributed mainly from 9.2 per cent y-o-y growth in the consumer banking segment.

Mortgages grew by 9.1 per cent year-on-year while auto loans rose by 28.8 per cent year-on-year.

In addition, CIMB Niaga Syariah maintains its position as the largest Islamic business unit in Indonesia, with total financing valued at 37 trillion rupiah, increasing by 15.8 per cent y-o-y and deposits at 41.5 trillion rupiah or 39.2 per cent y-o-y growth as at Dec 31, 2021.

Going forward, Lani said CIMB Niaga will continue to focus on asset quality, cost management, and CASA growth, expanding its consumer and small and medium enterprise (SME) businesses, and innovating on digital engagement. — Bernama