CIMB Niaga

Indonesian company

You can help expand this article with text translated from the corresponding article in Indonesian. (December 2023) Click [show] for important translation instructions.

Machine translation, like DeepL or Google Translate, is a useful starting point for translations, but translators must revise errors as necessary and confirm that the translation is accurate, rather than simply copy-pasting machine-translated text into the English Wikipedia.
Consider adding a topic to this template: there are already 302 articles in the main category, and specifying|topic= will aid in categorization.
Do not translate text that appears unreliable or low-quality. If possible, verify the text with references provided in the foreign-language article.
You must provide copyright attribution in the edit summary accompanying your translation by providing an interlanguage link to the source of your translation. A model attribution edit summary is Content in this edit is translated from the existing Indonesian Wikipedia article at [[:id:Bank CIMB Niaga]]; see its history for attribution.
You may also add the template {{Translated|id|Bank CIMB Niaga}} to the talk page.
For more guidance, see Wikipedia:Translation.

PT Bank CIMB Niaga Tbk.

CIMB Niaga Tower, Jakarta
Company type	Public/subsidiary
Traded as	IDX: BNGA
Industry	Financial services
Founded	1955 (1955) (as Bank Niaga)
Founder	Soedarpo Sastrosatomo
Headquarters	Jakarta, Indonesia
Key people	Didi Syafruddin Yahya (President Commissioner), Lani Darmawan (CEO)
Revenue	Rp 25.3 trillion (2019)
Net income	Rp 3.9 trillion (2019)
Total assets	Rp 274.46 trillion (2019)
Total equity	Rp 43.28 trillion (2019)
Number of employees	12,372 (2019)
Parent	Commerce Kapital (2002-2006) Lippo Group (1989-2008) CIMB Group (2006-present)
Subsidiaries	Bank CIMB Niaga Asset Management Arm CIMB Niaga Syariah CIMB Niaga Auto Finance Saseka Finance
Website	www.cimbniaga.com

PT Bank CIMB Niaga Tbk is Indonesia's sixth largest bank by assets, established in 1955. CIMB Niaga, which is majority-owned by CIMB Group, is the largest payment bank in terms of transaction value under the Indonesian Central Securities Depository. With 11% of market share, CIMB Niaga is the third largest mortgage provider in Indonesia.^[1]

History

Bank Niaga

Logos of Bank Niaga and Lippo Bank until both were officially merged into CIMB Niaga on 1 November 2008.

The bank was first established in 1955 as a national private bank. In 1969 when crisis hit the private sector in Indonesia, Bank Niaga remained sound and was eligible for Bank Indonesia’s Guarantee. Then in November 1974, Bank Niaga revamped its business plans and became a full service public bank to better meet the demands of customers.

After a merger period with several other commercial banks, the function and individuality of the Bank were restored in 1975. The status was resumed to that of a state-run commercial bank. The official name was changed to "Bank Niaga 1955".

In 1976, the bank launched a Professional Loan Program, providing loans for professionals like engineers and doctors. In 1981 and 1982, Bank Niaga 1955 became the first bank in Indonesia to apply an online banking system as well as a network system for its branches. It introduced a foreign currency exchange network in various branches in 1985 along with a variety of new products.

In 1987, Bank Niaga 1955 set itself apart from the competition when it became the first bank in Indonesia to introduce ATM services.

In June 1989, Bank Niaga made an initial public offering (IPO) to be listed on the Indonesian Stock Exchange. The shares were over-subscribed by four times the issued shares at 20.9 million shares.

In 1991, Bank Niaga became the first bank to provide online banking facilities in Indonesia.^[2]

In 1998, Bank Niaga expanded its customer base and began providing services to upper-middle class customers.

In 1999, Bank Niaga was put under the supervision of the Indonesian Bank Restructuring Agency, because it did not meet the 20% shareholders’ funds required for the recapitalization exercise.

In 2002, Commerce Asset-Holding Berhad (now known as CIMB Group) acquired Bank Niaga. It was re-branded in May 2008, several months prior to the merger, from PT Bank Niaga Tbk to PT Bank CIMB Niaga Tbk.

Lippo Bank

Lippo Bank was Indonesia's 9th largest bank in Indonesia by the number of the assets. It was established in 1948 as Bank Perniagaan Indonesia. In March 1989, Bank Perniagaan Indonesia was renamed as Lippo Bank controlled by Mochtar Riady together with the Lippo Group. Indonesia sold the stake in Bank Lippo as part of asset disposals aimed at cutting the government's budget deficit and recouping the 450 trillion rupiah it spent to bail out banks after the 1997 Asian financial crisis. The agency took control of Bank Lippo from its previous owners, the Riady family, after the government injected funds into the lender in 1999 to boost capital. Swissasia Global bought 52.1 percent of Bank Lippo in February 2004 from the Indonesian Bank Restructuring Agency for $142 million. The family continued to hold a minority stake, partly through PT Lippo E-Net, which owned 5.6% of the lender, as well as controlling rights.

Lippo Bank's United States subsidiary was implicated in the scandal of improper contributions to the Clinton-Gore campaign. According to a 1998 Senate Governmental Affairs Committee report, by 1992, while employed by Lippo Bank in California, John "Huang began to raise illegal foreign money for the DNC through Lippo-owned shell companies". This money, which wound up in Democratic coffers, was ultimately traced to the "greater China region. Huang's colleagues at Lippo Bank [...] never understood his corporate duties and described him as a `mystery man,' " the report said.^[3]

On 26 August 2005, the bank's shareholders and Bank Indonesia approved the sales of the 52.05% controlling stake held by Swissasia Global to Santubong Investment B.V which was wholly owned by Khazanah Nasional Berhad, the investment arm of the Malaysian federal government. The sales took effect on 30 September the same year.^[4]^[5]

Merger

Since Khazanah Nasional Berhad had an indirect interest of 93 percent in Lippo Bank through Santubong Investment BV and Greatville Pte. Ltd., and also owns 64 percent of Bank CIMB Niaga through Bumiputra-Commerce Holdings, Bank Niaga and Lippo Bank had to be merged to comply to the Indonesian central bank's "single presence policy".^[6] On 1 November 2008, Lippo Bank officially merged with Bank CIMB Niaga^[7] and are known as PT Bank CIMB Niaga Tbk, the Indonesian subsidiary of CIMB Group.

Lippo Group immediately returned to Indonesian banking industry in 2010 when the group acquired the Nobu Bank [id] in 2010.^[8]

References

^ CIMB Group subsidiary information
^ https://www.cimbniaga.com/en/about-us/index.html
^ "How the disgraced James Riady, barred from travel to the U.S., made it back". Washington Post. January 5, 2010.
^ Lippo Bank History
^ "NEAC - Khazanah major shareholder of Bank Lippo" (PDF). Archived from the original (PDF) on 2012-03-18. Retrieved 2016-03-27.
^ "Khazanah to merge Bank Niaga, Bank Lippo". Jawa Bali Indonesia Business Today. 2008-01-02. Archived from the original on 2009-09-27.
^ "CIMB Niaga history". Archived from the original on 2010-04-13.
^ "Lippo Siap Besarkan Bank Nobu". detik.com (in Indonesian). 5 October 2010. Retrieved 5 March 2024.

External links

Wikimedia Commons has media related to CIMB Niaga.

(in Indonesian) Official website

Banks in Indonesia

Central bank: Bank Indonesia

Conventional banks
State-owned banks	Bank Mandiri (Bank Mandiri Taspen) Bank Negara Indonesia (Bank Raya Indonesia) Bank Rakyat Indonesia (Bank Mayora) Bank Tabungan Negara
National private foreign exchange banks	Bank Anda Bank Artha Graha Internasional Bank Bukopin Bank Bumi Arta Bank Capital Indonesia Bank Central Asia Bank CIMB Niaga Bank Danamon Bank Ekonomi Raharja Bank Ganesha Bank Hana Bank ICB Bumiputera Bank ICBC Indonesia Bank Index Selindo Bank Maybank Indonesia Bank Maspion Bank Mayapada Bank Mega Bank Mestika Dharma Bank Metro Express Mutiara Bank Bank Nusantara Parahyangan Bank OCBC NISP Bank of India Indonesia Panin Bank Bank Permata Bank QNB Kesawan Bank SBI Indonesia Bank Sinarmas Bank UOB Indonesia Bank Woori Saudara
National private non foreign exchange banks	Anglomas Internasional Bank Bank Andara Bank Artos Indonesia Bank Bisnis Internasional Centratama Nasional Bank Bank Dipo International Bank Fama Internasional Bank Harda Internasional Bank Ina Perdana Bank Jasa Jakarta Bank Kesejahteraan Ekonomi Bank Liman International Bank Mayora Bank Mitraniaga Bank Multi Arta Sentosa Bank Nationalnobu Prima Master Bank Bank Royal Indonesia Bank Sahabat Purba Danarta Bank Sinar Harapan Bali Bank Tabungan Pensiunan Nasional Bank Victoria Internasional Bank Yudha Bhakti
Regional banks	Bank Banten Bank Bengkulu Bank BJB Bank BPD Bali Bank BPD DIY Bank DKI Bank Jambi Bank Jateng Bank Jatim Bank Kalbar Bank Kalsel Bank Kalteng Bankaltimtara Bank Lampung Bank Maluku Bank Nagari Bank NTT Bank Papua BRK Syariah Bank Sulsel Bank Sultra Bank Sulteng Bank BSG Bank Sumsel Babel Bank Sumut
Joint-venture banks	Bank ANZ Indonesia Bank Commonwealth Bank Agris Bank BNP Paribas Indonesia Bank Capital Indonesia Bank Chinatrust Indonesia Bank DBS Indonesia Bank KEB Indonesia Bank Mizuho Indonesia Bank Rabobank International Indonesia Bank Resona Perdania Bank Sumitomo Mitsui Indonesia Bank Windu Kentjana International Bank Woori Indonesia
Foreign banks	Bank of America Bangkok Bank Bank of China Citibank Deutsche Bank HSBC JPMorgan Chase Royal Bank of Scotland Standard Chartered Bank of Tokyo-Mitsubishi UFJ

Sharia banks
State-owned banks	Bank Syariah Indonesia
National private foreign exchange banks	BCA Syariah Bank BJB Syariah Bank DKI Syariah Bank BRI Syariah Bank Mega Syariah Bank Muamalat Panin Bank Syariah Bank Syariah Bukopin Bank Victoria Syariah
Regional banks	Bank Aceh Syariah Bank NTB Syariah
Joint-venture banks	CIMB Niaga Syariah Bank Maybank Syariah Indonesia

Sharia business units of conventional banks
National private foreign exchange banks	Bank Danamon Syariah OCBC NISP Syariah Bank Permata Syariah
Regional banks	Bank BPD DIY Syariah Bank Kalbar Syariah Bank Kalsel Syariah Bank Riau Kepri Syariah Bank Sumsel Babel Syariah Bank Sumut Syariah
Foreign banks	HSBC Amanah