Bank CIMB Niaga (formerly Bank Niaga) is currently the 5th largest bank in Indonesia in terms of assets, deposits, lending and branch distribution network. Bank CIMB Niaga now offers its customer the most comprehensive portfolio of universal banking services available in Indonesia, combining its strengths in retail, SME and corporate banking as well as payment services. Total assets: Rp 411 trillion (as of December 31, 2010).
The majority of the Bank's equity had been held by Bumiputra-Commerce Holdings Berhad (BCHB) since 25 November 2002 and on 16 August 2007 was transferred to CIMB Group Sdn Bhd, a wholly owned subsidiary of BCHB. As the first local bank to introduce ATM services in 1987 and also on-line banking system in 1991, CIMB Niaga is well regarded as one of the most innovative banks in Indonesia. As on December 31, 2010, the Bank had a total network of 751 offices and about 1,300 ATMs.
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Financial News
Citi gets approval to issue credit cards in China - 06.02.2012 The China unit of Citigroup Inc said on Monday that it has received regulatory approval to issue credit cards in China, the first non-Asian bank to receive permission. Source: Reuters
Three Swiss bankers indicted by U.S. in tax crackdown - 09.01.2012 U.S. authorities are moving toward taking legal action against Wegelin & Co., which could lead to an indictment of one of Switzerland's last pure private banks, on charges that it enabled wealthy Americans to evade taxes, according to two persons with knowledge of the case. Source: Reuters
Islamic finance assets to hit US$ 1.1 trillion in 2012 - 22.11.2011 Islamic finance assets around the world are expected to climb 33% from their 2010 levels to $1.1 trillion by the end of 2012, boosted by the aftermath of the Arab Spring uprisings and dissatisfaction with conventional finance in the wake of the global debt crisis, consultants Ernst & Young said in a report on Tuesday. Source: Reuters
Spanish bank ratings downgraded by Fitch and S&P - 12.10.2011 Two leading credit rating agencies have downgraded some of Spain's largest banks, citing a deteriorating outlook for the Spanish economy. Source: BBC News
Spotlight on Islamic Retail Banking – strategies for fast growing industry - 07.10.2011 Islamic Banking is young but fast growing industry what brings challenges as need for standardization, expanding at the market, lack of public awareness about Islamic Banking (misinterpretation) and limited resources of qualified people in this particular industry. Source: Fleming Gulf
JBIC inks $43bn credit line pact with Japan banks - 05.10.2011 The Japan Bank for International Cooperation (JBIC) said Wednesday that it has signed separate pacts with three major Japanese banks to give them a combined $43 billion, or Y3.3 trillion, credit line, as part of the government's steps to encourage companies to go ahead with M&As overseas. Source: Nikkei