BRiEF HistORy
PT bank CImb Niaga Tbk hereinafter referred to as “CImb Niaga” or “bank” was established on 26 September 1955 based on Company Establishment Deed No. 90 made before Raden meester Soewandi, Notary in Jakarta on 26 September 1955 with the name PT bank Niaga, and amended a deed before the same Notary, Deed No. 9 on 4 November 1955. These Company Establishment Deeds were approved by the minister of Justice of the Republic of Indonesia (now the minister 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, Offical Gazette No. 729/1956.
On 11 November 1955, based on the minister 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 board of Directors Decree No. 7/116/Kep/
Dir/UD on 22 November 1974. bank 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 development in the country.
In 1987, bank Niaga became the first local bank to launch banking services through Automatic Teller machine (ATm) in Indonesia. This achievement is widely regarded as Indonesia’s entry point into the modern banking world. On 29 November 1989, bank Niaga became a publicly listed company by listing the bank’s shares, for the above name, on the Indonesia Stock Exchange (formerly PT Jakarta Stock Exchange and PT Surabaya Stock Exchange). bank leadership and innovation in applying the latest technology became increasingly well known when in 1991 it became 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 bI Governor Decree No. 6/71/KEP. GbI.2004 and established Sharia business Units.
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). Then in 2002, CImb Group Holdings berhad (CImb Group) formerly Commerce Asset Holding berhad, acquired a majority stake in bank from IbRA.
In a separate transaction, Khazanah, the majority shareholder of CImb Group, acquired a majority ownership of Lippobank on 30 September 2005.
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In 2007, the total 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, 92.5%, is owned directly and indirectly by CImb GROUP SDN bHD, which is the fifth largest universal banking group in ASEAN with extensive regional networks in Indonesia, malaysia, Thailand, Singapore, Cambodia, brunei Darussalam, Vietnam, myanmar, Laos and Philippines.
As the controlling shareholder of bank (through CImb Group) and Lippobank since 2007, Khazanah had been considering a merger as 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, before Dr. Amrul Partomuan Pohan, S.H., LLm, Notary in Jakarta and approved by the minister 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 (“bI”) Decree No. 10/56/KEP.
GbI/2008 dated 22 July 2008.
Through the bI Governor Decree No. 10/66/KEP.GbI/2008 dated 15 October 2008 regarding “Granting Permit for business Combination of PT bank Lippo Tbk to PT bank CImb Niaga Tbk”, and the minister of Law and 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 combined business 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 is 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 was successfully recorded in the category of bUKU 4 bank with a minimum core capital of IDR 30 trillion.
CImb Niaga now provides its customers a comprehensive range of banking products and services in Indonesia ranging from consumer banking, micro, Small and medium Enterprises (mSmE) 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 its Transaction banking capability, which offers a variety of products and services and comprehensive solutions for companies to manage their domestic and cross border financial operations transactions. These solutions includes Cash management, Remittance, Trade Finance and Value Chain. With internet banking features such as bizChannel @ CImb’s for the corporate segment, corporate customers are given the convenience of being able to conduct a wide variety of payment transactions and also buying and selling foreign currencies online, without having to go to the CImb Niaga branch office. These capabilities has earned CImb Niaga several prestigious awards in the field of Transaction and FX banking, as the best Cash management bank, best Trade Finance bank and The Leading FX Provider in Indonesia.
With the support of 451 branch offices, 4,500 ATm units, 146 multi Function Devices/mFD units, 952 Cash Deposit machine/CDm and Cash Recycle machine/CRm units, and 12,372 employees throughout Indonesia, CImb Niaga believes that it will continue to grow to become the leader and the best in providing banking services for the community.
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by being committed to integrity and perseverance, placing the highest priority on customers, with a spirit to continue to excel, CImb Niaga will continue to use all its powers to create synergies between the business units and the CImb Group. These are CImb Niaga’s core values and the obligations that must be fulfilled to bring about a very promising future.
Bank Name Changes Chronology
Company Name PT bank Niaga Tbk.
Establishment Deed Number 90
Establishment Deed Date 26 September 1955
Name Change PT bank CImb Niaga Tbk.
Change of Name Deed Number 38
Change of Name Deed Date 28 may 2008
Notary Dr. Amrul Partomuan Pohan, S.H., LLm, Notary in Jakarta Effective Date of Change 13 June 2008
Ratification of Name Change minister of Law and Human Rights Republic of Indonesia Letter No. AHU-32968.AH.01.02 dated 13 June 2008
Business Permit Approval following Name Change
bI Governor Decree No.10/56/KEP.GbI/2008 dated 22 July 2008
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1955
Established under the name of PT bank Niaga