BNGA - PT. Bank CIMB Niaga Tbk

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JAKARTA. PT Bank CIMB Niaga Tbk (BNGA) reveals that the profit before consolidated tax in the first nine months (9M) of 2023 reached IDR 6.3 trillion, growing 25.8% year-on-year (yoy).

Lee Kai Kwong, Director of Strategy, Finance, and SPAPM of BNGA, said that this achievement demonstrates how proactiveness over prudence in maintaining assets quality has been effectively implemented. “It was also supported by operating revenue, as well as improved cost management, allowing us to maintain double-digit return on equity (ROE) of 15.4% throughout 9M 2023,” Kwong said in the public expose.

Throughout 9M 2023, BNGA reported third-party funds of IDR 235.3 trillion, scoring Current Account and Saving Account (CASA) ratio of 66.7%. CASA reportedly grew 4.5% yoy.

In the meantime, the credits distributed by BNGA throughout 9M 2023 increased 5.2% yoy to IDR 205.6 trillion. The highest growth was seen scored by credits disbursed for Small and Medium Enterprises (SMEs), growing 8.1% yoy. Meanwhile, corporate banking credit grew 6%, followed by consumer banking credit of 5.9%, car ownership credit of 11.5%, and house ownership credit of 2.7%.

For sharia business unit, BNGA still has the biggest sharia business unit in Indonesia, recording total credits disbursed of IDR 53 trillion. The third-party funds of sharia business unit of BNGA reportedly clocked up to IDR 42.7 trillion, growing 23.4% yoy higher. (KR/ZH)