KUALA LUMPUR, April 28 — CIMB Group Holdings Bhd’s 92.5 per cent indirectly-owned subsidiary, PT Bank CIMB Niaga Tbk (CIMB Niaga), posted a consolidated net profit of 1.2 trillion rupiah (RM362.10 million) in the first quarter of 2022 (Q1 2022), representing a 19.9 per cent year-on-year (y-o-y) growth and translating to an earnings per share of 47.89 rupiah.

President director Lani Darmawan said the bank had a strong first quarter, with earnings topping 1.2 trillion rupiah, continuing the momentum from a solid 2021 performance.

“Healthy growth in operating income, well-managed operating expenses and lower provisioning drove the performance in Q1 2022,” Lani said in a press statement.

“Our strong results reflect the positive economic recovery and the progress we have made on our strategic priorities,” he said.

He said CIMB Niaga’s capital adequacy ratio and loan-to-deposit ratio were strong at 23.1 per cent and 76.1 per cent respectively as at March 31, 2022.

Total assets stood at 307.4 trillion rupiah as at March 31, 2022, with CIMB Niaga maintaining its position as Indonesia’s second largest privately-owned bank by assets.

“Total deposits stood at 237.3 trillion rupiah with the CASA (current accounts savings accounts) ratio at 63.6 per cent, driven largely by the bank’s continuous commitment to deepen the relationship with customers through digital banking services and improved customer experience,” he said.

Meanwhile, total loans stood at 182.7 trillion rupiah contributed mainly by 12.4 per cent year-on-year (y-o-y) growth in the consumer banking segment.

Mortgages grew by 9.2 per cent y-o-y while auto loans rose by 48.8 per cent y-o-y.

In addition, CIMB Niaga Syariah maintains its position as the largest Islamic business unit in Indonesia, with total financing valued at 38.1 trillion rupiah, increasing by 17.4 per cent y-o-y and deposits at 40.1 trillion rupiah, increasing by 35.4 per cent, as at March 31, 2022.

Going forward, CIMB Niaga continues to develop digital-based products to complement the offerings at existing branches. — Bernama