Analyst Presentation

First Nine Months 2015 Results (Unaudited)

Jakarta
30 October 2015

Key Highlights
Economic activity remains slow
Loan growth moderate at 7.2% YoY growth given the current environment
Deposits at 11.3% YoY growth, with CASA Ratio at 47.7% as CASA growing by 15.7% YoY
Gross NPL at 3.17%, improved due to sale of assets into Indonesian bad bank
NIMs holding at 5.19% in 9M15 (5.40% for 3Q15). Expect NIM pressure to persist
Operating income held up considerably well at 4.8% YoY growth at Rp10.3 tio in 9M15,
contributed mainly from NII growth of 9.5% YoY
One-off MSS cost of Rp471 bio taken in 3Q15
PBT BAU* down 73% YoY to Rp 848 bio in 9M15 (9M14: Rp3,136 bio), however
improved 392% QoQ to Rp615 bio in 3Q15 (2Q15: Rp125 bio)

* BAU excludes MSS cost (Rp 471 bio)

CIMB Niaga: 9M 2015 Results

Financial Results

Income Statement - Consolidated

2Q15

3Q15
BAU*

QoQ

9M14

9M15
BAU*

YoY

Interest Income

5,558

5,696

2.5%

15,273

16,715

9.4%

Interest Expense

(2,810)

(2,718)

-3.3%

(7,488)

(8,191)

9.4%

Net Interest Income

2,748

2,978

8.4%

7,785

8,524

9.5%

Non Interest Income

576

556

-3.5%

2,003

1,736

-13.3%

Operating Income

3,324

3,534

6.3%

9,788

10,260

4.8%

Operating Expenses

(1,864)

(1,728)

-7.3%

(5,145)

(5,440)

5.7%

GA & Promotion Expenses

(962)

(899)

-6.5%

(2,747)

(2,813)

2.4 %

Personnel Expenses

(902)

(829)

-8.1%

(2,398)

(2,627)

9.5%

Pre Provision Operating Profit

1,460

1,806

23.7%

4,643

4,820

3.8 %

Provision Expenses

(1,335)

(1,191)

-10.8%

(1,507)

(3,972)

163.6%

PBT

125

615

392.0%

3,136

848

-73.0%

Net Profit

93

442

375.3%

2,296

618

-73.1%

EPS (Rp, full amount)

3.73

17.59

371.6%

91.36

24.60

-73.1%

PBT (Actual)

125

144

15.2%

3,136

377

-88.0%

Net Profit (Actual)

93

89

-4.3%

2,296

265

-88.5%

(Rp bil)

* BAU excludes MSS cost (Rp 471 bio)

Financial Position - Consolidated

(Rp tril)

Sep-14

Jun-15

Sep-15

QoQ

YoY

Cash & Short Term Funds

24.21

27.90

27.65

-0.9%

14.2%

Govt Bonds & Marketable Securities

26.02

28.63

26.67

-6.8%

2.5%

Loans*

166.84

180.82

178.89

-1.1%

7.2%

Loan Provision

(4.64)

(7.72)

(6.85)

-11.3%

47.6%

Fixed & Other Assets

15.31

15.61

17.93

14.9%

17.1%

Total Assets

227.74

245.24

244.29

-0.4%

7.3%

Current Account

37.87

46.93

45.19

-3.7%

19.3%

Saving Account

38.59

41.26

43.31

5.0%

12.2%

Time Deposit & Structured Deposit

90.33

97.80

97.22

-0.6%

7.6%

Total Customer Deposits

166.79

185.99

185.72

-0.1%

11.3%

Other Liabilities

32.69

30.72

30.33

-1.3%

-7.2%

Total Liabilities

199.48

216.71

216.05

-0.3%

8.3%

Equity

28.26

28.53

28.24

-1.0%

-0.1%

* On normalized level, Loans grew 0.4% QoQ and 8.8% YoY

Key Ratios - Consolidated

(%)

2Q15

3Q15
BAU*

9M14

9M15
BAU*

ROA

0.20

1.01

1.89

0.47

ROE (shareholders fund)

1.31

6.19

11.22

2.88

NIM

5.04

5.40

5.27

5.19

Fee Income / Total Income

17.33

15.73

20.46

16.92

Cost to Income (CIR)

56.09

48.88

52.56

53.02

CASA Ratio

47.42

47.66

45.84

47.66

Loan to Deposit (LDR)

95.81

94.93

98.51

94.93

LDR (Bank Only)

92.76

92.04

94.53

92.04

Gross NPL

4.28

3.17

3.35

3.17

Net NPL

1.66

1.47

2.19

1.47

Cost of Credit

2.95

2.67

1.24

2.98

Impairment Gross

5.74

5.18

5.37

5.18

Loan Loss Coverage

99.60

120.96

82.89

120.96

Impaired LLC

74.35

73.96

51.75

73.96

* BAU excludes MSS Cost (Rp 471 bio)

QoQ

YoY

Quarterly Earnings Trend

(Rp bil)
Operating Income

PBT

Net Profit

ROE (shareholders' fund)(1)

3,710
3,402

3,534

3,324

3,159

6.19%

4.89%
0.66%
500

1.15%

1.31%
615

343
64

3Q14

4Q14

46

108 83

1Q15

442

125 93

2Q15

3Q15 BAU*

(1)

Quarterly Annualized
* BAU excludes MSS Cost (Rp 471 bio)

NIMs Holding
Net Interest Margin
(%, YTD Annualized)

Net Interest Income Breakdown

(incl. FTP)

Treasury
22%

5.27%

Sep-14

5.36%

Dec-14

5.22%

Mar-15

5.08%

Jun-15

Retail
30%

5.19%
Corporate
18%

Sep-15

Quarterly Annualized NIM

Commercial
11%

MSME
19%

Net Interest Income

3Q14

4Q14

1Q15

2Q15

3Q15

9M14: Rp 7,785 billion

5.32%

5.63%

5.22%

4.94%

5.40%

9M15: Rp 8,524 billion

Non Interest Income

Non Interest Income Breakdown
2,003

1,736

188
132
353

1,273

57

131
128
190

1,255

32

(Rp bil)

9M14

9M15

YoY

Recovery

188

131

-30.3%

Arranger & Syndication Fees

57

32

-43.9%

Trans. Banking & Trade Fin

132

128

-3.0%

Forex & Fixed Income Derivatives

353

190

-46.2%

1,273

1,255

-1.4%

Bancassurance

547

492

-10.1%

Remittance

102

103

1.0%

Card Related

247

250

1.2%

Other Fees & Commissions

377

410

8.8%

2,003

1,736

-13.3%

Fees & Commissions

Total

NoII Quarterly
9M14

9M15

487

806

604

576

556

3Q14

4Q14

1Q15

2Q15

3Q15
9

Operating Expenses & Cost to Income Ratio

2Q15

3Q15
BAU*

QoQ

9M14

9M15
BAU*

YoY

Advertising & Promotion

69

64

-7.2%

277

213

-23.1%

General & Admin.

893

835

-6.5%

2,470

2,600

5.3%

Personnel

902

829

-8.1%

2,398

2,627

9.5%

Total

1,864

1,728

-7.3%

5,145

5,440

5.7%

Total (Actual)

1,864

2,199

18.0%

5,145

5,911

14.9%

(%)

2Q15

3Q15

QoQ

9M14

9M15

YoY

Cost to income

56.09

62.20

6.11

52.56

57.60

5.04

Cost to income BAU*

56.09

48.88

-7.21

52.56

53.02

0.46

Rp bil

* BAU excludes MSS cost (Rp471 bio)

10

Loan Growth at 7.2% YoY

Segment (Rp tril)

Sep-14

Jun-15

Sep-15

QoQ

YoY

Consumer Banking (28%)

48.75

51.25

51.40

0.3%

5.4%

Mortgages

22.23

22.96

23.06

0.4%

3.7%

Auto Loans

18.14

18.86

18.80

-0.3%

3.6%

Credit Cards

4.95

5.72

5.88

2.8%

18.8%

Personal Loans

2.06

2.45

2.48

1.4%

20.6%

Multipurpose & Others (1)

1.37

1.26

1.18

-6.3%

-13.9%

MSME Banking (20%)

33.61

35.94

35.26

-1.9%

4.9%

Small Medium

20.83

22.81

22.98

0.7%

10.3%

Micro Linkage & Others

9.99

10.06

9.56

-5.0%

-4.3%

Micro Finance

2.79

3.07

2.72

-11.4%

-2.5%

Commercial Banking (20%)

35.97

35.54

36.03

1.4%

0.2%

Corporate Banking (32%)

48.51

58.09

56.20

-3.3%

15.9%

Total (100%)

166.84

180.82

178.89

-1.1%*

7.2%*

Industry

3,561

3,828

3,881 (2)

n.a.

10.9% (3)

* On normalized level, Total Loans grew 0.4% QoQ and 8.8% YoY
(1) Others

include Staff loan & CLB

Of Aug-15
(3) Aug-15 YoY growth
Industry source: Indonesia Banking Statistics
(2) As

11

Asset Quality Management remains a Priority

Asset Quality
Gross NPL
5.37%

3.35%

Coverage Ratio
Net NPL
5.33%

4.79%

4.07%

3.90%

Gross Impairment Ratio

5.74%

Loan Loss Coverage

5.18%
82.89%

4.28%
3.17%

51.75%
2.19%

1.94%

1.81%

1.66%

1.47%

Sep-14

Dec-14

Mar-15

Jun-15

Sep-15

Sep-14

88.78%

102.55%

Impaired LLC
120.96%
99.60%

72.38%

78.29%

74.35%

73.96%

Dec-14

Mar-15

Jun-15

Sep-15

Loans by Collectability (% of Total Loan)

Special
Mention
5.92%

NPL
3.35%

Current
90.73%
Sep 14

Special
Mention
6.10%

NPL
4.28%

Current
89.62%
Jun 15

Special
Mention
8.26%

NPL
3.17%

Current
88.57%
Sep 15
12

Asset Quality by Business Segment

Gross NPL (%)
7.3%

7.9%

3.8%

5.8%

2.4%

6.9%
2.5%

3.3%

3.5%

2.4%

2.5%

5.3%

Corporate

6.0%
Commercial

2.7%

2.9%

MSME

1.8%

1.6%

1.7%

1.6%

2.0%

Sep-14

Dec-14

Mar-15

Jun-15

Sep-15

Consumer

13

Total Deposits grew 11.3% YoY

Rp tril

Sep-14

Jun-15

Sep-15

QoQ

YoY

CASA

76.46

88.19

88.50

0.4%

15.7%

Current Account

37.87

46.93

45.19

-3.7%

19.3%

Saving Account

38.59

41.26

43.31

5.0%

12.2%

Time Deposits &

Structured Deposits

90.33

97.80

97.22

-0.6%

7.6%

Total

166.79

185.99

185.72

-0.1%

11.3%

Industry

3,996

4,320

4,367*

n.a

13.2% #

CASA

2,123

2,277

2,284*

n.a

12.2% #

Time Deposits

1,873

2,043

2,082*

n.a

14.4% #

* As of Aug-15
# Aug-15 YoY growth

14

Capital Ratios
Total Equity (Rp tril) & ROE
4.89%

0.66%

1.15%

CAR (%) Consolidated

1.31%

6.19%

16.01
2.26

28.26

28.45

Sep-14

Dec-14

Equity (Rp tril)

28.63

Mar-15

28.53

Jun-15

16.46

15.98

16.01

2.14

2.11

14.26

13.84

13.90

Mar-15

Jun-15

Sep-15

15.58
2.20
2.25

28.24

Sep-15

13.75

13.33

Sep-14

Dec-14

Tier 1

ROE Shareholders Fund BAU* (1)

Tier 2

Capital Adequacy Ratio (%)

Sep-14

Jun-15

Sep-15

CAR with Credit Risk

18.34

18.44

18.45

Market Risk

(0.17)

(0.18)

(0.14)

Operational Risk

(2.16)

(2.28)

(2.30)

16.01

15.98

16.01

Total CAR
(1)

Quarterly Annualized
* BAU excludes MSS Cost (Rp 471 bio)

15

CIMB Niaga: 9M 2015 Results

Consumer Banking

Consumer Loans by Products

Total Loans

Growth
(Composition)

(Rp tril)

Total

QoQ

YoY

0.3%

5.4%

48.75

51.25

51.40

3.43
4.95

3.71
5.72

3.66
5.88

Personal, Multipurpose
& Others (7%)

-1.3%

6.7%

18.14

18.86

18.80

Credit Cards (11%)

2.8%

18.8%

Auto Loans (37%)

-0.3%

3.6%

Mortgage (45%)

0.4%

3.7%

22.23

Sep-14

22.96

Jun-15

23.06

Sep-15

17

Mortgages
Total Loans
(Rp tril)

+3.7% YoY
+0.4% QoQ

22.96

23.06

Jun-15

Sep-15

22.23

Sep-14

Market Share
Market Share
NPL Ratio

7.2%
2.7%

Sep-14

(1) As

of Aug-15
Industry Source: Indonesia Banking Statistics

7.0%
2.3%

Jun-15

7.0%
2.6%

Sep-15

(1)

Mortgage Lender

Jun-15

BTN

34.4%

BCA

17.4%

BNI

10.1%

Mandiri

8.0%

CIMB Niaga

7.0%
18

Auto Loans by Segment

Total Loans
(Rp tril)
0.9%

1.5%

Growth
(Composition)

QoQ

YoY

-0.3%

3.6%

Indirect Auto Loans

-6.4%

250.0%

KITAF

0.0%

-17.1%

Direct Loans

-3.0%

-15.1%

CNAF

0.7%

2.5%

0.9%

Total
18.14

18.86

18.80

0.42

1.57

1.47

2.52

2.09

2.09

1.92

1.68

1.63

NPL ratio
13.28

13.52

13.61

Sep-14

Jun-15

Sep-15

NPL Ratio
19

Credit Cards
Number of Cards

Outstanding Balance

(thou)

(Rp tril)

+9.9% YoY
+3.2% QoQ

1,865

Outstanding Balance
1.2%
1.2%

1,924

1,750

NPL
1.1%

5.72

5.88

Jun-15

Sep-15

4.95

Sep-14

Jun-15

Sep-14

Sep-15

2013
#

Bank

2014
Mkt Share

Bank

BNI

Mega

Mega

CIMBN

CIMBN

BNI

10.7%

* Market share based on card issued

Jun 2015
Mkt Share

11.3%

Bank

Mega

CIMBN

BNI

Mkt Share

11.2%

20

Sustained Personal Loans growth

Total Loan

(Rp bil)
1.5%

1.9%

1.8%

+20.6% YoY
2,449

+1.4% QoQ

2,483

2,059

Sep-14

Jun-15
Total Loan (Rp bil)

Sep-15
NPL

21

Stable Growth in Digital Banking Platform

No. of Users
(thou)

+25.2% YoY

(thou)

+4.9% QoQ

948

1,132

No. of Users

No. of Users
+45.5% YoY

(thou)

+25.8% QoQ

+10.6% QoQ

1,187

1,000

+103.2% YoY

1,106

1,189
945

760
585

Sep-14

Jun-15

Sep-15

Sep-14

Jun-15

Sep-15

Sep-14

Jun-15

Sep-15

22

CIMB Niaga: 9M 2015 Results

MSME Banking

MSME Loans
Total Loans

Growth

QoQ

YoY

-1.9%

4.9%

Micro Finance

-11.4%

-2.5%

Micro Linkage & others

-5.0%

-4.3%

Small Medium

0.7%

10.3%

(Rp tril)

33.61

2.79
9.99

35.94

35.26

3.07

2.72

10.06

9.56

20.83

22.81

22.98

Sep-14

Jun-15

Sep-15

Total

24

CIMB Niaga: 9M 2015 Results

Commercial Banking

Commercial Loans
Total Loans
(Rp tril)

35.97

35.54

36.03

19.22

19.92

20.45

16.75

15.62

15.58

Sep-14

Jun-15

Sep-15

Growth

QoQ

YoY

Total

1.4%

0.2%

Working Capital (57%)

2.7%

6.4%

Investment (43%)

-0.3%

-7.0%

26

CIMB Niaga: 9M 2015 Results

Corporate Banking

Corporate Loans
Total Loans

Growth
(Composition)

(Rp tril)

48.51

58.09

25.29
18.28

30.23

Sep-14

32.80

Jun-15

56.20

QoQ

YoY

-3.3%

15.9%

Working Cap. (44%)

-1.5%

36.3%

Investment (56%)

-4.6%

3.5%

Total

24.91

Holcim Indonesia

Ivo Mas Tunggal

Term Loan

Working Capital &

Term Loan

IDR 750 bio

USD 100 mio

31.29

Sep-15

* On normalized level, Total Corporate Loans grew 1.2% QoQ and 21.7% YoY

28

CIMB Niaga: 9M 2015 Results

Syariah Banking

Syariah Banking
Total Financing

Total Deposits

(Rp tril)

(Rp tril)
+60.9% YoY

+17.1% YoY

-0.8% QoQ
7.91
7.85

+5.3% QoQ
5.90

Sep-14

6.56

6.91
4.88

Jun-15

Sep-15

Sep-14

Jun-15

Sep-15

30

CIMB Niaga: 9M 2015 Results

Final Remarks

Final Remarks
Indonesia economic activity would be dependent on realization of government
spending and economic packages
Focus remains on CASA growth, costs management and asset quality
MSS cost saving expected to be approximately Rp350 bio on an annualized basis.

Expect further cost initiatives being undertaken to reduce overhead expenses

1P Project near completion in 2016, currently under Operational Readiness Testing
(ORT)

32

THANK YOU

33

CIMB Niaga: 9M 2015 Results

Appendices

Corporate Structure 30 September 2015

Khazanah
Nasional

EPF

29.5%

KWAP

17.3%

3.6%

MUFG

Others

4.6%*

45.0%

CIMB Group Holdings Berhad

99.9%
Public
CIMB Group Sdn Bhd
2.1%

97.9%**

99.9%

99.9%

* Only direct stake held via BTMU

** Includes PT Commerce Kapital 1.02%

3.8%

35

Vision & Mission

Vision
To be The Leading ASEAN
Company

Mission
To provide universal banking
services in Indonesia as a
high-performing,
institutionalised and
integrated company located in
ASEAN and key markets
beyond, and to champion the
acceleration of ASEAN
integration and the regions
links to the rest of the world

36

Board of Commissioners
Dato Sri Nazir Razak

Glenn M.S. Yusuf

President Commissioner

Vice President Commissioner

Roy Edu Tirtadji

Sri Hartina Urip Simeon

Zulkifli M. Ali

Independent Commissioner

Independent Commissioner

Independent Commissioner

Pri Notowidigdo

David Richard Thomas

Ahmad Zulqarnain Onn

Independent Commissioner

Commissioner

Commissioner
37

Directors
Tigor M. Siahaan

D. James Rompas

President Director

Wan Razly

Vice President Director &

SMME

L. Wulan Tumbelaka
Strategy & Finance

Samir Gupta

Compliance, Corp. Affairs

& Legal

Megawati Sutanto
Consumer Banking

Vera Handajani
Risk Management

Resigned effective 31 July 2015

Lo Nyen Khing*

Credit

Vice President Director &

Corporate Banking

Rita MasOen
IT & Operations

Harjanto Tanuwidjaja
Human Resources

John Simon
Treasury & Capital
Market

38

5th in terms of Asset

Assets (Rp trillion)
Top 10 banks control 60.3% of industrys Asset
814

765
570
415
237

Market
Share#

Mandiri

BRI

BCA

BNI

13.5%

12.7%

9.5%

6.9%

CIMBN

183

167

165

163

144

Permata

Panin

Danamon

BTN

BII

3.0%

2.8%

2.7%

2.4%

3.9%

Source: Published Financial Statement by Bank Indonesia as of August-15; Bank only

# Industry as of August-15

2.8%

39

Maintained position as the 5th largest bank

Loans (Rp trillion)

Customer Deposits (Rp trillion)

Top 10 banks control 61.7% of industrys loans

507 494

Top 10 banks control 63.2% of industrys deposits

595 591
462

359
278

317
175

BRI

Market
Share#

Mandiri

13.1% 12.7%

BCA

BNI

9.2%

7.2%

CIMBN

130

129

115

106

102

Permata

BTN

Panin

Danamon

BII

3.3%

3.0%

2.7%

2.6%

4.5% 3.3%

Branches* (Jun-15)

183

Mandiri

BRI

BCA

13.6% 13.5% 10.6%

BNI

7.3%

CIMBN

145 122 120 116

109
Permata

4.2% 3.3%

BTN

Panin

Danamon

2.8%

2.7%

2.7%

BII

2.5%

ATMs (Jun-15)
21,215

2,327

17,032
16,707
14,157

1,364
1,135 1,080 1,069

563

Mandiri Danamon

BCA

BNI

BRI

CN

560

Panin

428

BII

375

314

BTN

Permata

3,325

BRI

Mandiri

BCA

BNI

CIMBN

1,830 1,530 1,473 1,019 1,007

BTN

Source: Published Financial Statement by Bank Indonesia as of August-15; Bank only

* Branches exclude Micro, Cash Counters, Payment Point & Mobile Cash; Danamon incl. Danamon Simpan Pinjam (DSP)
# Industry as of August-15

BII

Danamon

Panin

Permata

40

Network & Distribution Channel

Sep-14

Jun-15

Sep-15

QoQ

YoY

Branches*

573

563

553

-10

-20

Payment & Cash Point

66

65

65

-1

Digital Lounge

19

21

22

309

271

271

-38

Rahn***

92

89

89

-3

Mobile Cash

20

20

20

968

919

909

-10

-59

ATM

3,259

3,325

3,366

41

107

CDM

606

713

725

12

119

SST

175

215

220

45

14,853

15,078

13,959

-1,119

-894

Branch & Network

Mikro Laju**

Total Network
Electronic Channels

Employees

* Branches exclude Mikro Laju, Payment & Cash Point; include SME centers
** Total Mikro including co-located branches 277 as of Sep-15
*** Rahn outlets are co-located with Mikro Laju

41

Share Price and Ratings

Rating Agencies

Share Price & Trading Volume

Standard & Poors

Long term counterparty credit

ratings/ Outlook

BB+/Positive/B

Moodys
10 June 2015

Outlook
Bank Deposits
Baseline Credit Assessment
Adj. Baseline Credit Assessment
Issuer Rating

Stable
Baa3/P-3
ba2
Baa3
Baa3

Fitch
13 Apr 2015

Long Term Foreign Currency IDR

Short Term Foreign Currency IDR
Support Rating
Viability Rating
National Long Term
National Short Term
Rupiah Subordinated Bonds
Rupiah Senior Bond Program 1 2012
Rupiah Senior Bond Prg. 1 tranche 1
&2

BBB / Stable
F3
2
bb
AAA(idn) / Stable
F1+(idn)
AA(idn)
AAA(idn)
AAA(idn)

Pefindo
02 Jul 2015

Corporate Rating
Senior Bond Rating
Shelf Registration Bond Rating

idAAA
idAAA
idAAA

(Unsolicited Rating)

21 Apr 2012

BNGA

Sep-14

Dec-14

Mar-15

Jun-15

Sep-15

Price (Rp)

950

835

800

675

540

PBV (x)

0.84

0.74

0.70

0.59

0.48

PER

7.09

8.96

15.15

29.95

43.51

Rating / Outlook

42

Notable Awards in 3Q 2015

The Innovative Home Loan BankMajalah Properti Indonesia

Indonesia WOW Brand 2015 untuk

kategori Time Deposit
(Conventional Bank BUKU III) dan
Installment Savings (Conventional
Bank) Indonesia Wow Brand 2015

Platinum Trophy for very good

financial performance in 10
consecutive years Infobank
Awards 2015

Best Supporting Bank in Property

for Excellence Service
and Innovative. - Indonesia
Property Watch bekerja sama
dengan majalah Property and The
City

43

Corporate Activities in 3Q 2015

PT Bank CIMB Niaga Tbk and PT Kereta Api Indonesia (Persero) signed the
Agreement of ticket online transaction through CIMB Niaga Card Sites on
Wednesday, 1 July 2015

CIMB Niaga officially launched OctoPay, a secure and reliable online

banking service through facebook in cooperation with MasterCard,
on 21 September 2015.

CIMB Niaga held a Philantrophy program in Safari Ramadhan 1436 H on

July 2015.

CIMB Niaga held a Philantrophy CSR Program in World Alzheimer

Months event in Monas through fun walk.

44

THANK YOU
PT Bank CIMB Niaga Tbk
Investor Relations
Graha CIMB Niaga 10th Floor
Jl. Jend. Sudirman Kav. 58
Jakarta 12190
Tel.
: (62-21) 250 5252, 250 5353
Fax.
: (62-21) 250 5205
Email
: investor.relations@cimbniaga.co.id

www.cimbniaga.com