CIMB Niaga

PT Bank CIMB Niaga Tbk.

Type	Public/subsidiary
Traded as	IDX: BMGA
Industry	Financial services
Founded	1955 (as Bank Niaga)
Headquarters	Jakarta, Indonesia
Key people	Nazir Razak
Parent	CIMB
Website	www.cimbniaga.com

PT Bank CIMB Niaga Tbk (CIMB Niaga) is Indonesia's fourth 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

Early years

CIMB Niaga was formerly known as Bank Niaga, which was first established in 1955 as a national private bank. After it was set up, the bank focused on establishing trust with its customers and on the well-being and professionalism of its employees. 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.

Bank Niaga 1955

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.

Bank Niaga

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 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.

CIMB Niaga

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

Recent development (CIMB Niaga)

Later on 1 November 2008, Khazanah Nasional Berhad, as the ultimate shareholder of Bank CIMB Niaga (via CIMB Group) and of Lippo Bank, merged the two financial institutions together under Bank Indonesia’s Single Presence Policy.^[2]

References

External links

CIMB Group Official Site
CIMB Niaga Official Site
(Indonesian) Scholarship Information from CIMB Niaga

Banks in Indonesia

Central bank: Bank Indonesia

Conventional banks

State-owned banks	Bank Mandiri Bank Negara Indonesia Bank Rakyat Indonesia Bank Tabungan Negara

National private foreign exchange banks	Bank Agroniaga 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 Himpunan Saudara 1906 Bank ICB Bumiputera Bank ICBC Indonesia Bank Index Selindo Bank Internasional 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

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 Pundi Indonesia Bank Royal Indonesia Bank Sahabat Purba Danarta Bank Sinar Harapan Bali Bank Tabungan Pensiunan Nasional Bank Victoria Internasional Bank Yudha Bhakti

Regional banks	Bank Jambi Bank Kalsel Bank Kaltim Bank Sultra Bank BPD DIY Bank Nagari Bank DKI Bank Lampung Bank Kalteng Bank BPD Aceh Bank Sulsel Bank BJB Bank Kalbar Bank Maluku Bank Bengkulu Bank Jateng Bank Jatim Bank NTB Bank NTT Bank Sulteng Bank Sulut Bank BPD Bali Bank Papua Bank Riau Kepri 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 BNI Syariah Bank Muamalat Bank Syariah Mandiri

National private foreign exchange banks	BCA Syariah Bank BJB Syariah Bank BRI Syariah Bank Mega Syariah Panin Bank Syariah Bank Syariah Bukopin Bank Victoria Syariah

Joint-venture banks	Bank Maybank Syariah Indonesia

Sharia business units of conventional banks

State-owned banks	Bank BTN Syariah

National private foreign exchange banks	Bank Danamon Syariah CIMB Niaga Syariah BII Syariah OCBC NISP Syariah Bank Permata Syariah

Regional banks	Bank BPD Aceh Syariah Bank BJB Syariah Bank DKI Syariah Bank Kalbar Syariah Bank Kalsel Syariah Bank NTB Syariah Bank Riau Kepri Syariah Bank Sumsel Babel Syariah Bank Sumut Syariah

Foreign banks	HSBC Amanah

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CIMB Niaga

History

Early years

Bank Niaga 1955

Bank Niaga

CIMB Niaga

Recent development (CIMB Niaga)

See also

References

External links