KUALA LUMPUR (Feb 17): PT CIMB Niaga Tbk, the 92.5%-owned subsidiary of CIMB Group Holdings Bhd, saw its consolidated net profit grow 24.35% to 5.1 trillion rupiah for the financial year ended Dec 31, 2022 (FY2022), from 4.1 trillion rupiah a year earlier, amid the Indonesian economy’s recovery from global uncertainty and challenges.

Earnings per share rose to 202.21 rupiah from 164.48 rupiah, according to CIMB’s filing with Bursa Malaysia.

“Looking ahead into 2023, our strategic initiatives are focused on the area of consumer banking and Casa (customer account saving account) growth through digital proliferation, further asset quality improvement, non-interest income contribution and digital banking innovation through advanced technology, with a wide range of customised services,” said CIMB Niaga president Lani Darmawan.

CIMB Niaga’s capital adequacy ratio and loan to deposit ratio closed at 22.2% and 85.6% respectively as at Dec 31, 2022.

Total consolidated assets stood at 307 trillion rupiah, solidifying the bank’s position as Indonesia’s second largest privately owned bank.

Total deposits, meanwhile, reached 227 trillion rupiah with Casa ratio rising to 63.6%, which resulted from deepening customer relationship and customer experience through digital touchpoints.

Additionally, total loans or financing grew 9.4% year-on-year to 199 trillion rupiah, contributed mainly by growth in corporate banking and consumer banking.

Mortgages grew by 7.0%, while auto loans rose 35.3%, including contributions from the bank’s subsidiary, PT CIMB Niaga Auto Finance.

In sharia banking, CIMB Niaga’s Islamic business unit, CIMB Niaga Syariah, maintained its position as the largest Islamic business unit in Indonesia, with total financing valued at 9.3 trillion rupiah and deposits at 39.5 trillion rupiah as at end-December last year.

Shares of CIMB settled down three sen or 0.55% at RM5.40 on Friday (Feb 17), valuing the group at RM57.59 billion.