DENPASAR - CIMB Niaga Syariah continues to strengthen its intermediation function by channeling funds to the productive sector. As of June 30, 2019, CIMB Niaga Syariah recorded a financing growth of 31.6% year-on-year (Y-o-Y) to Rp 27.96 trillion.
CIMB Niaga Sharia Banking Director Pandji P. Djajanegara said the contributors to the increase came from the Micro, Small and Medium Enterprises (MSME) and Commercial sectors which each grew by 69% YoY to Rp 2.6 trillion and 52% YoY to Rp 3.7 trillion.
"The positive growth in MSME and Commercial financing since 2018 shows the commitment of CIMB Niaga Syariah in supporting the development of both segments in the country. This is also in line with the strategy of the parent company which continues to focus on key expertise," said Pandji at a CIMB Niaga Joint Discussion in Denpasar, Bali, Monday (9/23).
In the MSME segment, especially Micro Linkage, Pandji continued, CIMB Niaga Syariah actively channeled Sharia financing to support plasma farmers in palm oil plantations. Whereas in the Commercial segment, CIMB Niaga Syariah distributes financing to companies with businesses that continue to grow. (LM)