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Bank Niaga generated Rp 1.98 trillion in net profit in 1H 2019

15 August 2019 15:34

JAKARTA - PT Bank CIMB Niaga Tbk generated Rp 1.98 trillion in net profit in the first quarter of 2019, 11.6% higher than its record in the same period of last year of Rp 1.76 trillion.

President Director of CIMB Niaga, Tigor M. Siahaan, said that the company was supported by the company's operating income which rose by 5.7% YoY.

"The net interest margin (NIM) strengthen in Semester-I 2019 to 5.41% compared to 5.09% recorded in Semester-I 2018," he said in a statement received by Kontan.co.id on Thursday (15/8).

He said that profit growth was driven by, among others, net interest income (NII) which rose by 5.5% YoY to Rp 6.32 trillion. In addition, the company's backup costs also decreased by 2% to Rp 1.52 trillion.

On the other hand, CIMB Niaga's non-interest income also grew by 6.3% YoY from Rp 1.86 trillion to Rp 1.98 trillion.

Even so, he continued, CIMB Niaga's credit disbursement only grew slightly by 2.6% YoY from Rp 185.72 trillion to Rp 190.54 trillion. This was also reflected in assets, which only grew by 4.5% YoY to Rp 271.86 trillion.

In terms of third party fund (DPK), the BNGA-coded bank recorded a growth of 4% YoY to Rp 197.85 trillion.

Tigor added, credit growth was mainly supported by housing loans (KPR), credit cards, and small and medium business (SMEs) loans, which grew by 13,%, 10% and 4.1% YoY respectively. Meanwhile, corporate loans only grew slightly by 2.1% YoY.

"We will continue to prioritize the precautionary principle related to credit growth in line with current economic conditions, while continuing to consider asset quality as a top priority," Tigor added. (ARM/AR)

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