CIMB Niaga Sr. (IFC-29962)

Countries
  • Indonesia
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Completed
Bank Risk Rating
C
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Mar 29, 2012
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
BANK CIMB NIAGA, PT TBK
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 75.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 75.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jan 31, 2019

Disclosed by Bank Feb 27, 2012


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Project Description

The proposed project is to provide long-term financing in the form of a senior loan to PT Bank CIMB Niaga Tbk ("CIMB Niaga" or the "Bank"), to support the Bank's mortgage lending business.CIMB Niaga was incorporated in Indonesia in 1955 under the name of Bank Niaga, and was listed on the Indonesia Stock Exchange in 1989. In 2002, CIMB Group acquired a majority control stake in the Bank. CIMB Niaga is today Indonesia's 5th largest bank in terms of assets and operates a full-fledged universal platform offering retail, SME and corporate banking services. In addition to traditional banking products, the Bank also has a growing franchise in microfinance and Sharia banking.

 

Investment Description
  • International Finance Corporation (IFC)

The proposed IFC investment is a senior loan of up to US$75 million.

Private Actors

CIMB Niaga is a public company controlled and majority-owned by CIMB Group with a 97.9% shareholding, with the remaining 2.1% publicly listed. CIMB Group (the “Sponsor”) is Malaysia’s second-largest financial services provider, as well as one of the largest regional financial service institutions in Southeast Asia. CIMB Group is listed on the Bursa Malaysia and operates as a universal bank offering a full range of financial products and services, covering corporate and investment banking, consumer banking, treasury, insurance and asset management. CIMB Group offers products and services on a dual banking basis, giving customers a choice of both conventional and Islamic solutions. With a presence in 11 Southeast Asian countries, at present CIMB Group’s main markets are Malaysia, Indonesia, Singapore and Thailand.

Contact Information

Mr. Wan Razly Abdullah/ Mr. Mohamed Fadzil Sulaiman
Chief Financial Officer / Director of Treasury & Capital Market
PT Bank CIMB Niaga Tbk
Graha Niaga 14th floor
Jl. Jend Sudirman Kav. 58 Jakarta 12190 Indonesia
Tel.: (62-21) 250 5052
Fax: (62-21) 250 5202
Web: http://www.cimbniaga.com

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/