KUALA LUMPUR (April 30): PT Bank CIMB Niaga Tbk, the 91.45%-owned Indonesian subsidiary of CIMB Group Holdings Bhd (KL:CIMB), reported a 6.5% year-on-year rise in net profit for the first quarter ended March 31, 2026 (1QFY2026), supported by higher fee-based income and stable operating performance.
The bank posted a net profit of 1.73 trillion rupiah (RM394.59 million) for the quarter, up from 1.63 trillion rupiah (RM370.49 million) a year earlier, according to its unaudited financial statements.
Profit before tax stood at 2.3 trillion rupiah, while earnings per share came in at 70.20 rupiah.
Revenue growth remained steady during the quarter, underpinned by disciplined cost management and selective loan expansion, CIMB Niaga president director and chief executive officer Lani Darmawan said in a statement.
“We are pleased to begin 2026 on a strong footing, driven by resilient earnings, strong fee-based income growth, and robust fundamentals,” she said.
She added that asset quality remained sound, with non-performing loans below the industry average and cost of credit stabilising below 1%.
Total loans grew 2.2% year-on-year to 235.1 trillion rupiah, led by corporate banking, while deposits rose 2.3% to 260.1 trillion rupiah. The increase in deposits was driven by a 12.2% rise in current account savings account (Casa) balances to 192.3 trillion rupiah, bringing the Casa ratio to 73.9%.
Total assets stood at 368.2 trillion rupiah as at end-March, maintaining CIMB Niaga’s position as Indonesia’s second-largest privately owned bank.
By segment, corporate loans expanded 4.8% year-on-year, followed by small and medium enterprises at 1.2% and consumer banking at 0.2%, with retail loan growth largely driven by auto loans.
The bank maintained a healthy capital position, with a capital adequacy ratio of 25.3% and a loan-to-deposit ratio of 89.2%.
On its Islamic banking operations, CIMB Niaga Syariah remained the largest Islamic business unit in Indonesia, with total financing of 52.9 trillion rupiah and deposits of 45 trillion rupiah as at March 31.
Looking ahead, Darmawan said the bank will continue to prioritise fee-based income growth while maintaining prudent lending and safeguarding asset quality.
“Loan growth will be pursued with prudence, whilst asset quality and portfolio resilience remain a priority focus,” she said.
In a recent interview with The Edge Malaysia, Darmawan said the bank will spin off its Islamic business into a standalone bank in the final quarter of this year.
At Thursday's market close, CIMB Niaga shares were down 1.47% at 1,670 rupiah, valuing the Indonesian lender at about 41.57 trillion rupiah.
Meanwhile, over at Bursa Malaysia, CIMB shares closed three sen or 0.39% lower at RM7.66, giving the group a market capitalisation of RM82.75 billion.