Company History

PT Bank CIMB Niaga Tbk (“CIMB Niaga” or “Bank”) was established on 26 September 1955, based on the Company’s Deed of Establishment No. 90 made in the presence of Raden Meester Soewandi, Notary in Jakarta, on 26 September 1955, under the name PT Bank Niaga, then amended by deed No. 9 dated 4 November 1955, from the same Notary. The Company’s Deed of Establishment was approved by the Minister of Justice of the Republic of Indonesia (now the Minister of Law and Human Rights) with Decree 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, Supplement to the State Gazette No. 729/1956.

The Bank obtained a business license as a commercial bank on 11 November 1955, based on the Decree of the Minister of Finance of the Republic of Indonesia No. 249544/U.M.II. Subsequently, the Bank also received a license as a foreign exchange bank based on the Decree of the Board of Directors of Bank Indonesia No. 7/116/Kep/Dir/UD dated 22 November 1974.

Throughout its existence, CIMB Niaga has achieved various reputations as a provider of quality banking products and services that can be relied upon. Furthermore, CIMB Niaga has also been able to achieve a number of other significant achievements and has played a role in determining the direction of the development of the banking industry in Indonesia.

CIMB Niaga was recorded in history as the first local bank to introduce banking services through Automatic Teller Machines (ATMs) in Indonesia in 1987. This achievement became an important milestone for the Bank that contributed to entering Indonesia into the modern banking era.

On 29 November 1989, CIMB Niaga continued its steps to become a public company by listing its shares in PT Bursa Efek Indonesia (formerly PT Bursa Efek Jakarta and PT Bursa Efek Surabaya). In 1991, the Bank’s leadership and innovation in implementing the latest technology became increasingly recognized by becoming the first bank to provide online banking services in 1991.

On 16 September 2004, CIMB Niaga began carrying out banking business activities based on sharia principles after obtaining the business license through the Decree of the Governor of Bank Indonesia No. 6/71/KEP.GBI.2004 by establishing a Sharia Business Unit.

Due to the Asian financial crisis in 1998, the majority share ownership of the Bank was transferred to the Government of the Republic of Indonesia through the Indonesian Bank Restructuring Agency (IBRA). In 2002, CIMB Group Holdings Berhad (CIMB Group), formerly Commerce Asset Holding Berhad, acquired the majority share of the Bank from IBRA. In a separate transaction, Khazanah, which is the majority shareholder of CIMB Group, acquired the majority ownership of Lippo Bank on 30 September 2005.

In 2007, all share ownership 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 of 92.5% are directly and indirectly owned by CIMB Group Sdn. Bhd., which is the fifth largest universal banking group in ASEAN with an extensive regional network, including in Indonesia, Malaysia, Thailand, Singapore, Cambodia, Brunei Darussalam, Vietnam, Myanmar, Laos, and the Philippines.

Khazanah, as the controlling shareholder of CIMB Niaga (through CIMB Group) and Lippo Bank since 2007, has taken the step of a merger to comply with the Single Presence Policy (SPP) set by Bank Indonesia. This merger is the first in Indonesia related to the SPP policy.

In 2008, prior to the merger, the name of PT Bank Niaga Tbk changed 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., LL.M., Notary in Jakarta, and has received approval from the Minister of Law and Human Rights of the Republic of Indonesia through letter No. AHU-32968.AH.01.02 of 2008 dated 13 June 2008 and Decree of the Governor of Bank Indonesia No. 10/56/KEP.GBI/2008 dated 22 July 22 2008.

The Bank carried out the merger of Lippo Bank into CIMB Niaga based on the Decree of the Governor of Bank Indonesia No. 10/66/KEP.GBI/2008 dated 15 October 2008 concerning “Granting of Permit for the Merger of PT Bank Lippo Tbk into PT Bank CIMB Niaga Tbk” and with the receipt of the letter of the Minister of Law and Human Rights of the Republic of Indonesia No. AHU-AH.01.10-22669 dated 22 October 2008.

The statement of the merger obtained an effective notification letter from Bapepam-LK through letter No. S-4217/BL/2008 dated 30 June 2008. The effective date of the merger with Lippo Bank was set 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., LL.M., Notary in Jakarta. This merger is a major leap in the Southeast Asian banking sector and provides the advantage of CIMB Niaga’s connectivity to the ASEAN regional network through the CIMB Group.

To date, CIMB Niaga continues to provide leading banking products and services comprehensively in Indonesia, covering the consumer banking, small and medium enterprise (SME) banking, commercial banking, and corporate banking segments. This effort is supported by reliable treasury and capital market capabilities, transaction banking, and a reliable branchless banking network. CIMB Niaga also has sharia products and services through the CIMB Niaga Sharia Business Unit. In terms of transaction banking, CIMB Niaga offers a variety of superior products and services as well as comprehensive solutions in managing customer financial operations, both domestic and cross-border transactions. This solution includes cash management, remittance, trade finance, and value chain products.

CIMB Niaga strives to provide convenience for its customers to be able to carry out various financial transactions according to customer needs digitally, without having to come to the branch office, by utilizing the BizChannel@CIMB application for the business segment and OCTO Mobile and OCTO Clicks for individual customers. Furthermore, CIMB Niaga complements its advantages by providing convenience for customers to transact and use other banking services through OCTO Pay, Digital Lounge, QRIS, and others.

As of the 2024 financial year, CIMB Niaga was the second largest privately owned bank in Indonesia based on total assets and the largest Sharia Business Unit (UUS) Network in Indonesia, with a network of 407 branch offices, including Sharia Branches, Digital Lounges, Cash Mobile, and Kiosks, 2,282 ATM units, 6 Multi Denom Machine (MDM) units, and 977 Cash Recycle Machine (CRM) units, as well as 11,063 employees spread throughout Indonesia.

In the future, CIMB Niaga will continue to monitor macroeconomic and industrial conditions accompanied by the implementation of appropriate strategies and policies. Efforts to synergize between business units and the CIMB Group will also continue to be carried out in order to create sustainable growth. CIMB Niaga is optimistic that it can continue to grow sustainably by adhering to the Bank’s core values in providing banking services to the community.