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 before Raden Meester Soewandi, Notary in Jakarta on 26 September 1955, with the name PT Bank Niaga, and amended with a deed made before 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.

The Bank obtained a business license as a commercial bank on 11 November 1955, based on the Minister of Finance of the Republic of Indonesia Decree No. 249544/U.M.II, 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 dated 22 November 1974. CIMB Niaga 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 Indonesia.

In 1987, CIMB Niaga made its mark in history as the first local bank that introduced baking services through Automatic Teller Machine (ATM) in Indonesia. This achievement is widely regarded as Indonesia’s entry point into the modern banking world.

CIMB Niaga then became a public company by listing its registered shares on the Indonesia Stock Exchange (formerly PT Bursa Efek Jakarta and PT Bursa Efek Surabaya) on 29 November 1989. The Bank’s leadership and innovation in applying the latest technology became increase well known in 1991 by becoming the first Bank to provide online banking services.

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 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 before 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 year 2008 dated 13 June 2008, and the Governor of Bank Indonesia Decree No. 10/56/ KEP.GBI/2008 dated 22 July 2008.

The Bank incorporated Lippo Bank into CIMB Niaga based on 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”, as well as the receipt of the letter from the Minister of Law and the Human Rights of the Republic of Indonesia Letter No. AHU-AH.01.10-22669 dated 22 October 2008.

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 before 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.

CIMB Niaga is committed to meeting the banking needs of its cutomers in a comprehensive manner. Currently, CIMB Niaga continues to provide comprehensive leading banking products and services, covering the consumer banking, small and medium enterprise (SME) banking, commercial banking, and corporate banking segments. This effort is supported by treasury & capital market and transaction banking capabilities, as well as reliable branchless banking networks. CIMB Niaga also offers 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 leading products and services and comprehensive solutions for customers 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 branch office by utilizing the BizChannel@CIMB application for the business segment as well as OCTO Mobile and OCTO Clicks for individual customers. Furthermore, CIMB Niaga complements its advantages by facilitating its customers to conduct transactions and utilize other banking services through OCTO Pay, Digital Lounge, QRIS and others.

As of the 2023 financial year, CIMB Niaga has a network of 412 branch offices, including Sharia Branches, Digital Lounges, Mobile Branches. and Kiosks, 2,982 ATM units, 4 Multi Denom Machine (MDM) units, and 907 Cash Recycle Machine (CRM) units, as well as 11,116 employees spread throughout Indonesia.

Moving forward, CIMB Niaga will continue to deploy all of its resources to create synergies between business units and the CIMB Group as an effort to create sustainable growthby adhering to the Bank’s core values, CIMB Niaga is confident in its ability to remain at the forefront and to be the best in providing banking services to the public.