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CIMB Niaga launches new brand promise
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CIMB Niaga president director Tigor M. Siahaan (center) poses with the lender's executives and brand ambassadors during the announcement of the bank's new brand promise in Jakarta on April 5. (JP/Prima Wirayani)
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rivate lender PT Bank CIMB Niaga, a part of Malaysian financial institution CIMB Group, announced its new brand promise in Jakarta on Wednesday in an effort to forge stronger relations with customers.
The publicly listed bank said the brand promise, Forward, was tailored for its targeted customers.
The brand promise is aimed at four segments, namely youth, family, priority banking and business banking, CIMB Niaga president director Tigor M. Siahaan said during a media event on Wednesday.
"The brand is not only for generating profit but also to cater to stakeholders and position CIMB Niaga in the future," he said.
The lender earned Rp 2.08 trillion (US$156 million) in net profit last year, almost five times the 2015 amount.
Its loans surged 1.6 percent year-on-year (yoy) to Rp 180.16 trillion while third-party funds increased 1.1 percent to Rp 180.57 trillion and its loan-to-deposit ratio (LDR) was at 98.4 percent as of December.
This year, CIMB Niaga will focus on improving its assets quality amid global volatility. Its net non-performing loan (NPL) ratio climbed to 2.2 percent at the end of last year from 1.6 percent in 2015, while its gross NPL ratio was flat at between 3.7 to 3.8 percent. (ags)
