Company History

PT Bank CIMB Niaga Tbk, hereinafter referred to as “CIMB Niaga” or “Bank,” was established on 26 September 1955, based on Deed of Establishment No. 90 made in the presence of Raden Meester Soewandi, Notary in Jakarta on 26 September 1955, with the name PT Bank Niaga, and amended with a deed made in the presence of the same Notary, Deed No. 9 on 4 November 1955. This Deed of Establishment was approved by the Ministry of Justice of the Republic of Indonesia (now the Ministry of Law and Human Rights) through Decision No. J.A.5/110/15 dated 1 December 1955, and announced in the State Gazette of the Republic of Indonesia No. 71 dated 4 September 1956, and additional Official Gazette No. 729/1956.

On 11 November 1955, based on the Ministry of Finance of the Republic of Indonesia Decree No. 249544/U.M.II, the Bank obtained a business license as a commercial bank that was then followed by a license as a foreign exchange bank based on Bank Indonesia’s Board of Directors Decree No. 7/116/Kep/Dir/UD on 22 November 1974. The Bank became widely known as a trusted provider of quality products and services. In the course of its business, the Bank recorded a number of achievements and helped determine the direction of the banking industry’s development in the country.

In 1987, CIMB Niaga became the first local Bank to launch banking services through Automatic Teller Machines (ATMs) in Indonesia. This achievement is widely regarded as Indonesia’s entry point into the modern banking world. On 29 November 1989, the Bank became a publicly listed company by listing the Bank’s registered shares on the Indonesia Stock Exchange (formerly PT Jakarta Stock Exchange and PT Surabaya Stock Exchange). CIMB Niaga’s leadership and innovation in applying the latest technology became increasingly wellknown in 1991 by becoming the first Bank to provide online banking services.

With a long-term vision, on 16 September 2004, the Bank began to conduct banking business activities based on sharia principles after obtaining a business license through the Governor of Bank Indonesia Decree No. 6/71/KEP.GBI.2004 by establishing Sharia Business Units.

Due to the Asian financial crisis in 1998, the majority shares ownership of the Bank was transferred to the Government of the Republic of Indonesia through the Indonesian Bank Restructuring Agency (IBRA). Then in 2002, CIMB Group Holdings Berhad (CIMB Group), formerly Commerce Asset Holding Berhad, acquired a majority of shares in the Bank from IBRA.

In a separate transaction, Khazanah, the majority shareholder of CIMB Group, acquired majority ownership of Lippo Bank on 30 September 2005.

In 2007, the ownership of the total shares was transferred to CIMB Group as part of an internal reorganization to consolidate the activities of all CIMB Group subsidiaries with a universal banking platform. The majority of the Bank’s shares, 92.5%, are owned directly and indirectly by CIMB Group Sdn. Bhd., the fifth largest universal banking group, among others in ASEAN, and which has extensive regional networks in Indonesia, Malaysia, Thailand, Singapore, Cambodia, Brunei Darussalam, Vietnam, Myanmar, Laos, and the Philippines.

As the controlling shareholder of CIMB Niaga (through CIMB Group) and Lippo Bank since 2007, Khazanah completed a merger as a part of a measure to comply with the Single Presence Policy (SPP) stipulated by Bank Indonesia. This was the first merger in Indonesia related to the SPP policy.

In 2008, before the merger, PT Bank Niaga Tbk changed its name to PT Bank CIMB Niaga Tbk (rebranding) based on Deed No. 38 dated 28 May 2008, made in the presence of Dr. Amrul Partomuan Pohan, S.H., LLM, Notary in Jakarta and approved by the Ministry of Law and Human Rights of the Republic of Indonesia through letter No. AHU-32968. AH.01.02.2008 dated 13 June 2008, and the Governor of Bank Indonesia Decree No. 10/56/ KEP.GBI/2008 dated 22 July 2008.

Through the Governor of Bank Indonesia Decree No.10/66/KEP.GBI/2008 dated 15 October 2008, regarding “Granting Permit for Business Merger of PT Bank Lippo Tbk to PT Bank CIMB Niaga Tbk,” and the Minister of Law and the Human Rights Republic of Indonesia Letter No. AHU-AH.01.10-22669 dated 22 October 2008, the merger became effective on 1 November 2008, with the Bank merging Bank Lippo into CIMB Niaga. This merger received an effective notification from Bapepam-LK through letter No. S-4217/BL/2008, dated 30 June 2008. The effective date of the business merger with Bank Lippo took place on 1 November 2008, based on Deed No. 9 dated 16 October 2008, made in the presence of Notary Dr. Amrul Partomuan Pohan, S.H., LLM, Notary in Jakarta. This merger was a monumental step in the Southeast Asian banking sector and provided CIMB Niaga the advantage of connectivity to the ASEAN regional network through the CIMB Group.

Currently, CIMB Niaga provides its customers with a comprehensive range of banking products and services in Indonesia, from consumer banking, Small and Medium Enterprises (SME) banking, commercial banking, and corporate banking, supported by treasury and transaction banking capabilities and branchless banking networks. CIMB Niaga also offers commercial and sharia products and services through the CIMB Niaga Sharia Business Unit. One of CIMB Niaga’s advantages is that its Transaction Banking capability offers various products and services and comprehensive solutions for companies to manage their domestic and cross-border financial operations transactions. These solutions include cash management, remittance, trade finance, and value chain.

CIMB Niaga customers are given the convenience of being able to conduct a wide variety of payment transactions digitally without having to go to a CIMB Niaga branch office by utilizing the BizChannel@CIMB application for the corporate segment as well as OCTO Mobile and OCTO Clicks for individual customers.

CIMB Niaga is committed to upholding integrity, consistently placing top priorities on customers, and having the spirit to excel. As of the end of the financial year on 31 December 2022, CIMB Niaga has 417 branches, include conventional branch, sharia branch, digital lounge, mobile branch, and Kiosk, 3,278 ATM units, 4 Multi Denom Machine units (MDM), and 925 Cash Recycle Machine units (CRM), as well as 10,936 employees spread across Indonesia.

CIMB Niaga will continue to deploy all of its resources to create synergies between business units and the CIMB Group in the future. All of these are the Bank’s core values and obligations, which must be met in order for the Bank to have a bright future. CIMB Niaga is confident in its ability to remain at the forefront and to be the best in providing banking services to the public.