Commerce International Merchant Bankers Niaga (CIMB Niaga), an Indonesian commercial bank, saw its microloan portfolio increase 352 percent from IDR 272 billion (USD 29.9 million) last year to IDR 1.2 trillion (USD 132 million) as it introduced unspecified new products and additional branches in Java, Sumatra, Bali, Kalimantan and Sulawesi. With 233 microfinance branches operating, the bank expects the number of branches “to continue increasing to 350 units” during 2012 [1].
As of 2011, CIMB Niaga has total assets of IDR 153 trillion (USD 16.8 billion). As of 2012 CIMB Niaga reported a microloan portfolio of IDR 1.2 trillion (USD 132 million).
By Brendan Millan, Research Associate
About Commerce International Merchant Bankers Niaga (CIMB Niaga): Established in 1955, CIMB Niaga is a commercial bank in Indonesia. CIMB Niaga merged with Lippo Bank in 2008. As of 2011, CIMB Niaga has total assets of IDR 153 trillion (USD 16.8 billion). CIMB Niaga provides microfinance savings and lending services for business, individual and educational purposes. As of 2012 CIMB Niaga reported a microloan portfolio of IDR 1.2 trillion (USD 132 million).
Sources and Resources:
[1] The JakartaPost: CIMB Niaga’s Micro Loans Surge 352%” by Esther Samboh. http://www.thejakartapost.com/news/2012/03/07/cimb-niaga-s-micro-loans-surge-352.html
MicroCapital.org Article, October 17, 2011, Standard Chartered Indonesia Loans $3m to Bank Andara to Finance Lending Technology Services for microfinance institutions”, https://www.microcapital.org/microcapital-brief-standard-chartered-indonesia-loans-3m-to-bank-andara-to-finance-lending-technology-services-for-microfinance-institutions/
MicroCapital.org Article, March 31, 2010, “State Enterprises Ministry of Indonesia Give State-Owned Bank Rakyat Indonesia (BRI), a Bank Specializing in Microfinance, Permission to Acquire Bank Agroniaga, a Bank Focused on the Agro-Business Sector”, https://www.microcapital.org/microcapital-brief-state-enterprises-ministry-of-indonesia-gives-state-owned-bank-rakyat-indonesia-bri-a-bank-specializing-in-microfinance-permission-to-acquire-bank-agroniaga-a-bank-focused-on/
MicroCapital Universe Profile: Commerce International Merchant Bankers Niaga (CIMB Niaga), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=CIMB+Niaga
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
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