Ar 2020 en

2020 Annual Report
PT Bank CIMB Niaga Tbk

Kejar Mimpi
DEVOTION TOWARDS
INDONESIA
The pandemic should not be seen as a

roadblock, rather a chance to move forward.
CIMB Niaga is determined to deliver the
best customer experience and innovations,
enabling our customers and other
stakeholders to embark on a journey to
reach their dreams. Guiding them to navigate
through this unprecedented situation. Move
forward towards your dream. Together with
perseverance and consistency, we reap what
we sow for the devotion towards Indonesia.
Performance Management Company Management Discussion Risk
Highlights Reports Profile and Analysis Management
ANNUAL REPORT PREPARATION METHOD AND ABOUT THE REPORT

The preparation of CIMB Niaga 2020 Annual Report adheres to the applicable conditions regarding the delivery of
transparent information that have to be included in several chapters of the Annual Report as follows:
PERFORMANCE HIGHLIGHTS RISK MANAGEMENT

Presents key financial information over the last 5 fiscal Presents general information on risk management
years. system, risk types and management, as well as a review
of CIMB Niaga’s risk management effectiveness.
MANAGEMENT REPORTS
Presents information on strategic policies supervision BUSINESS SUPPORT REVIEW
and implementation, key achievements, and corporate Presents information on CIMB Niaga’s business
governance implementation. performance support functions including human
resources and information technology.
COMPANY PROFILE
Presents general information about CIMB Niaga including CORPORATE GOVERNANCE REPORT
milestones, vision and mission, as well as other related Presents complete and detailed information on corporate
information. governance implementation by CIMB Niaga in line with
applicable regulations.
MANAGEMENT DISCUSSION AND ANALYSIS
Presents analysis of CIMB Niaga’s performance during CORPORATE SOCIAL RESPONSIBILITY
the fiscal year including macro economy and banking Presents policies, programs and activities in the
reviews, achievements in each business segment, implementation of corporate social responsibility (CSR),
financial performance analysis, and information on including governance, fair operating practices, human
material transactions. rights, environment, labor, Health & Safety Environment,
responsibility towards customers, and community
involvement and development.
NEGATION OF AND LIMITATION OF RESPONSIBILITY

This Annual Report contains statement of operational and financial projections as well as strategy and policy
implementation along with CIMB Niaga’s objectives. All is categorized as forward looking statements in adhering to
applicable laws and regulations; except for all historical information. These statements might carry risk and uncertainty
which could materially differ from the actual performance.
These forward looking statements are prepared based on current and most recent business assumptions where the
Bank operates. CIMB Niaga does not guarantee that these documents will provide certain expected outcomes.
4 CIMB NIAGA ANNUAL REPORT 2020

Supporting Business Corporate Governance Corporate Social Other Corporate Consolidated
Review Report Responsibility Data Financial Report
FIVE PILLAR STRATEGY
Corporate strategy plays an important role in guiding decision making process in order to
determine the best way to achieve Bank’s aspirations. Therefore, CIMB Niaga is always aware
of and adapts to all changes in the Bank’s internal and external business environments in
order to achieve business objectives by focusing on the 5 Pillar Strategy which includes:
1 Playing to Our
Strengths
2 Expanding CASA
Franchise
3 Discipline in Cost
Management
Preservation of
4 Capital and Balanced
Risk Culture
Leverage Information
5 Technology

TABLE OF CONTENTS
44 Management
Report
76 Company
Profile
Themes 1 Membership in Associations 79

Annual Report Preparation Method 4 Milestones 80
and About The Report
Negation of and Limitation of Responsibility 4 Corporate Vision, Mission, Culture 82
and Core Values
Five Pillar Strategy 5
Theme Continuity 10 Organization Structure 85
Key Highlights 2020 12 Corporate Identity (Logo) 88
Digital Platform Initiatives 2020 14 Business Activities 89
Business Network and Operating Areas 92
16 FINANCIAL AND OPERATIONAL Board of Commissioners’ Profiles 94
DATA HIGHLIGHTS
Board of Directors’ Profiles 98
Financial Highlights 17
Sharia Supervisory Board’s Profiles 103
Business Operational Highlights 23
Information on Changes of Management 105
Share Highlights 24 Members After The Fiscal Year 2020
Awards and Certification 30 Senior Executives Profiles 106
Event Highlights 34 Employees and Competency 117
Development Statistics
Shareholder Composition 121
44 MANAGEMENT REPORT
Chronology of Shares Issued and Listing 126
Report of the Board of Commissioners 47
Chronology of Other Securities Listing 127
Report of the Board of Directors 59
Corporate Group Structure 128
Report of the Sharia Supervisory Board 70
Subsidiaries, Associations, 130
Annual Report Responsibility Statement 72
and Investee Companies
List of Business Partnership 133
76 COMPANY PROFILE Capital Market Supporting 134
General Company Information 77 Institutions and Professionals
CIMB Niaga at A Glance 78 Information on Company Website 135
Name Changes Information 79 Education and/or Training of the Board 138
of Commissioners, Board of Directors,
Committees, Corporate Secretary and Internal
Audit Unit

152 Management Discussion

and Analysis
286 Risk
Management
1
52 MANAGEMENT DISCUSSION Capital Expenditure Investments 249
AND ANALYSIS Realized in The Last Fiscal Year
Comparison of Target with Realization in 2020 250
Review of 2020 Macro Economy 154
Dividend Distribution Policy 252
Operational Review per 157
Business Segment Employee and/or Management Equity 253
Ownership Plan (EOP/MESOP)
Profitability per Business Segment 159
Realization of Proceeds 255
Business Segment Review 160
from Public Offering
Corporate Banking 160
Other Important Transactions 256
Treasury and Capital Markets 164 in Significant Amounts
Transaction Banking 170 Important Changes in The Bank and Bank 256
Business Groups During The Year
Commercial Banking 174
Financial Information Related to 256
SME Banking 179
Extraordinary and Rare Events
Consumer Banking 183
Provision of Funds, Commitments 257
Sharia Banking 195 and Other Facilities
Financial Review 203 Significant Prohibition, Limitation and 257
2020 Strategy 204 Constraint to Conduct Fund Transfers
Between The Bank and Other Entities in The
Electronic Network Coverage Expansion 205 Business Group
Statements of Financial Position 207 Material Transaction of Conflict of Interest and 257
Consolidated Statements of Profit and Loss 226 Transactions with Affiliated/Related Parties
and Other Comprehensive Income Information on Transactions Related 261
Statements of Cash Flows 233 to Investment, Expansion, Divestment,
Acquisition and Restructuring
Key Financial Ratios 234
Changes in Accounting Policies 262
Prime Lending Rate 235
Application of Foreign Account Tax 267
Commitments and Contingencies 236 Compliance Act (FATCA) & Common
Brief Report of Subsidiaries 237 Reporting Standard (CRS)
Other Material Financial Information 239 Derivatives and Spot Transactions 268
Analysis of Ability to Pay Debts and 239 Changes in Laws and Regulations with 269
Receivables Collectibility Significant Effects and Their Impact on
Financial Reports
Significant Agreements 245
Marketing Aspects 272
Capital Structure of The Bank 246
Business Prospects 279
Investment Property 249
Business Continuity Information 282
Material Commitments for Capital Goods 249
Investments

432 Supporting Business

Review
458 Good Corporate
Governance Report
286 RISK MANAGEMENT 432 SUPPORTING BUSINESS REVIEW 414

Human Resources
Risk Management Focus 2020 287 433
Operations and Information Technology
Risk Management Framework and System 289 449
ICAAP (Internal Capital
298
Adequacy Assessment Process) 458 GOOD CORPORATE 424
Sharia Business Unit (SBU) Risk Management 300 GOVERNANCE REPORT
Bank and Consolidated Risk Profile & Basis and Guidelines in 461
301 Good Corporate Governance
Soundness Rating
Integrated Risk Management 302 Improvement of GCG Quality at CIMB Niaga 461
Achievement in GCG in 2020 463
Basel Implementation 304
GCG Implementation Stages 463
Recovery Plan Disclosure 305 GCG Milestones of CIMB Niaga in 1955-2020 464
AFM (Anti Fraud Management) 308 GCG Objectives 465
Basel II Pilar 3: Disclosure of Capital, Structure and Mechanism of Bank Governance 465
Risk Exposure and Implementation 311 GCG Implementation Assessment 468
of Bank Risk Management General Meeting of Shareholders 472
General Affairs 311 Board of Commissioners 487
Independent Commissioners 499
Capital 315
Board of Directors 501
Risk Management Approach 330
Performance Assessment on The Board of 511
Leverage Ratio 332 Commissioners and Board of Directors
Credit Risk 334 Policy on The Diversity of The Board of 515
Commissioners and Board of Directors
Market Risk 393 Remuneration Policy 518
Liquidity Risk 400 Board of Commissioners 526
and Board of Directors Meetings
Operational Risk 414
Ultimate and Controlling Shareholder 537
Legal Risk 422
Affiliation Among Members of The Board of 537
Reputational Risk 423 Commissioners, Board of Directors and The
Controlling Shareholder
Strategic Risk 424
Committees Under The Board of Commissioners 539
Compliance Risk 425 Audit Committee 539
Intra-Group Transaction Risk 426 Nomination and 547
Remuneration Committee
Rate of Return Risk 427
Risk Oversight Committee 553
Investment Risk 428 Integrated Governance Committee 560
Governance Risk – Remuneration Policy 428

672 Corporate Social

Responsibility
Committees Under The Board of Directors 566 672 CORPORATE SOCIAL RESPONSIBILITY
Corporate Secretary 574
Corporate Social Responsibility 673
Internal Audit (IA) 577
The Governance of Social Responsibility 674
Compliance Unit 588
Anti Money Laundering and 593 Corporate Social Responsibility 679
Counter-Terrorist Financing (AML & CFT) towards Fair Business Practices
Public Accountant 599 Corporate Social Responsibility 683
Risk Management 601 on Human Rights
Internal Control System 605 Corporate Social Responsibility 687
Important Cases 608 on the Environment
Administrative Sanction from Relevant Authorities 611 Corporate Social Responsibility on the Practice of 693
Access to Bank Information and Data 612 Employment, Occupational Health, and Safety
Goods and Services Procurement Policy 618 Corporate Social Responsibility 698
Employees Code of Ethics & Conduct 620 towards Consumers
Corporate Culture 623 Corporate Social Resposibility 702
Funding for Social and Political Activities 624 for Social and Community Development
Transparency of The Bank’s Financial 625
and Non-Financial Conditions
Shares and Bonds Buyback of CIMB Niaga 626 708 OTHER CORPORATE DATA
Dividend Policy 626 Office Network Addresses 709
Conflict Management Policy 626
(Including Insider Trading)
Protection of Creditor’s Rights 627
722 CONSOLIDATED FINANCIAL STATEMENTS
Provision of Funds to Related Parties 627 Consolidated Financial Statements 723
Customer Protection Policy 628
Internal Fraud 630 1063 REFERENCE AND INDEX RULES/CRITERIA
Whistleblowing System 631
Attachment to Financial Services Authority 1063
Asean Corporate Governance 635 Circular Letter No. 9/SEOJK.03/2020:
Scorecards Implementation Transparency and Publication of Conventional
Implementation of Corporate Governance 644 Commercial Bank Reports
Aspects and Principles in a Public Company Reference SEOJK No. 30-SEOJK.04-2016: 1067
Pursuant to OJK Regulation Annual Report of Public Company
Integrated Governance Report 649 Annual Report Award Criteria 1076
Sharia Business Unit Governance Report 659
Transparency on 668
Bad Corporate Governance Practices
Declaration of Implementation of 668
Good Corporate Governance Principles

THEME CONTINUITY
2016 2017 2018
CIMB Niaga Brand Promise of Continue to deliver the values of CIMB Niaga is committed to
‘Innovations from the Heart’ our brand promise “FORWARD”, being the best partner for both
followed by the new brand through the spirit of ‘Kejar Mimpi’ existing and potential customers
promise ‘FORWARD’ is our as a manifestation of CIMB at every stage of life. CIMB
commitment to provide the Niaga’s commitment to support Niaga will continue to provide
best banking solutions that the dreams of every customer comprehensive and innovative
enable customers to fulfill their segment through our banking banking solutions in order to
ambitions, goals and dreams at products and services. enhance their journey in fulfilling
each stage of their lives. their dreams.

2019 2020
Committed to our brand promise CIMB Niaga believes that consistency,

“Forward” with “Kejar Mimpi”
spirit, CIMB Niaga determines
perseverance and devotion are
to ignite the spirit of every key attributes to achieving dreams.
generation to move forward CIMB Niaga will continue to support
together to achieve their dreams.
Aspire to become the bank of
customers and other stakeholders
choice in Indonesia that provides in fulfilling their dreams through
innovative and comprehensive innovations in products and services.
banking solutions to accelerate
customer’s aspiration.
Let us work in unison and devote
ourselves towards Indonesia.

KEY HIGHLIGHTS 2020
FINANCIAL PERFORMANCE
OPERATING OPERATING PROFIT*

INCOME EXPENSES*
Non-Interest Operating Profit

Income Expenses Before Tax
(Rp trillion) (Rp trillion) (Rp trillion)
4.3 8.3 8.1 5.3

3.9
2.9
8.7% 2.1% 44.5%
2019 2020 2019 2020 2019 2020
Fee Income/ CIR Net

Total Income (%) Profit
(%) (Rp trillion)
25.3 49.07 48.95 3.9

23.8
2.0
1.53% 0.12% 48.6%
2019 2020 2019 2020 2019 2020
*2019: Business As Usual excluded Mutual Separation Scheme (MSS)

BANK Maintained position as Indonesia’s

POSITION second largest privately-owned bank.
2019 ASEAN Corporate Governance

GCG
Scorecard (ACGS): Country Top 3 Publicly
Listed Companies and ASEAN Asset Class
Publicly Listed Companies.
Improved Capital Adequacy Ratio

CAR (CAR) at 21.92% in 2020.
Cost to Income (CIR) ratio was at

CIR 48.95% in 2020, improving from
49.07% in 2019*.
CASA reached a total of Rp123.7

CASA trillion, with CASA ratio improving to
59.62%.
*2019: Business As Usual excluded Mutual Separation Scheme (MSS)

DIGITAL PLATFORM INITIATIVES 2020
The Rise of The Super App.
Started as GO Mobile, it was reintroduced in May 2020

as OCTO Mobile with further aspiration to transform
into a Super App.
These are the main features of OCTO Mobile:
Transactions
• Fund transfer to all domestic banks and
some overseas banks.
• Full complement of bill payment and top-up
(eWallet, phone credit, internet, and PLN).
• Currency exchange service with Deposit and Investment
competitive exchange rate
• Time deposits,
• Card-less cash deposit and withdrawal
• Term savings
• Scan QRIS transactions
• Bonds (government and corporate)
• Online shopping (eCommerce)
• Foreign currency savings accounts
• Virtual Card Number (VCN)
• Sharia savings accounts
Services
• Biometrics login
(fingerprint or Face ID)
• Block or unblock of debit/
credit card Loan
• Poin Xtra (balance inquiry,
transfer and claim) • Credit card or unsecured
• Travel Concierge – plane loan (KTA) application for
ticket purchase selected customers
• Cashplus for selected
customers
In its commitment to become a Super App, OCTO Mobile introduced the

Travel Concierge services in December 2020, allowing users the utmost
convenience in purchasing plane tickets without leaving the app.
Ongoing development of OCTO Mobile will see the introduction of new

services and features in 2021 to further enhance the customer experience in
their financial activities.

Powerful tool for your business

and personal finance.
Previously known as CIMB Clicks, OCTO Clicks is CIMB Niaga’s internet

banking services complementing its full range of digital product offerings.
Targeting users with more complex transaction needs, OCTO Clicks offers
a variety of sophisticated features and services, including:
• Financial Check-Up A full range transaction Time deposits, term

feature displaying the features, starting from savings, bonds
customer’s total assets fund transfer to all (Government and
at CIMB Niaga as well domestic and some corporate), foreign
as fund inflow/outflow. overseas banks, bill exchange savings, and
• Conduct mass payment, top-up (eWallet, others.
transactions including phone credit, internet,
for fund transfer and and PLN), online shopping
bill payment. (eCommerce), Virtual
• Upload data of Card Number (VCN), and
transaction receiving many others.
accounts from Excel
format.
• Add to chart: Single
OTP for a various
transactions.
SOPHISTICATED DEPOSIT AND INVESTMENT

TRANSACTION FEATURES
TRANSACTION FEATURES
Going forward, OCTO Clicks will be further developed in 2021 with sophisticated innovative
features to serve the more complex transaction needs of customers, including entrepreneurs,
affluent customers, and partner merchants.

Financial
and Operational
Data Highlights
Financial Highlights 17
Business Operational Highlights 23
Share Highlights 24
Awards and Certification 30
Event Highlights 34

FINANCIAL
HIGHLIGHTS
FINANCIAL POSITIONS

in million Rupiah
Description 2020 2019 2018 2017 2016

Total Assets 280,943,605 274,467,227 266,781,498 266,305,445 241,571,728
Earning Assets-Net 336,406,803 338,955,548 319,622,974 308,398,914 286,026,620
Loans 174,754,593 194,237,351 188,462,431 185,115,806 180,081,612
Loans-Net 162,829,633 188,177,510 182,364,079 177,807,766 171,983,359
Non-Performing Loans 6,213,417 5,324,556 5,760,517 6,827,250 6,894,089
Impaired Loans 10,536,742 7,391,927 7,623,432 9,433,852 9,421,492
Financing Lease - 180 5,106 19,607 82,427
Financing Lease-Net - - 1,180 10,936 51,981
Impaired Financing Lease - 180 3,908 4,744 21,904
Marketable Securities & Government Bonds-Net 67,444,508 34,645,825 35,269,590 38,413,540 28,071,315
Investments-Net 3,659 3,659 3,659 3,659 3,574
Total Investments in Associated Entities - - - - -
Total Investments in Joint Ventures - - - - -
Total Liabilities 239,890,554 231,173,061 227,200,919 229,354,449 207,364,106
Customer Deposits 207,529,424 195,600,300 190,750,218 189,317,196 180,571,134
Borrowing 933,433 2,647,013 2,195,916 5,809,723 5,436,073
Marketable Securities Issued 6,565,604 7,503,112 5,269,757 5,403,613 3,237,704
Subordinated Loans 224,184 1,821,175 1,742,417 1,596,772 2,979,566
Non Controlling Interest 14,112 15,275 1,005 881 818
Equity-Net 41,038,939 43,278,891 39,579,574 36,950,115 34,206,804
Total Assets Earning Assets - Net

2016-2020 Growth 2016-2020 Growth
(Rp trillion) (Rp trillion)
274.5 280.9 338.9 336.4

266.3 266.8 319.6
308.4
241.6 286.0
2016 2017 2018 2019 2020 2016 2017 2018 2019 2020

Loans - Net Total Liabilities

2016-2020 Growth 2016-2020 Growth
182.4 188.2 231.2 239.9

177.8 229.4 227.2
172.0
162.8 207.4
2016 2017 2018 2019 2020 2016 2017 2018 2019 2020
Customer Deposits Equity - Net

2016-2020 Growth 2016-2020 Growth
207.5 43.3
189.3 190.8 195.6 39.6 41.0
180.6 37.0
34.2
2016 2017 2018 2019 2020 2016 2017 2018 2019 2020
INCOME AND OTHER COMPREHENSIVE INCOME
in million Rupiah
Consolidated Income Statements 2020 2019* 2018 2017 2016*

Net Interest Income 12,470,518 12,568,018 12,011,731 12,403,379 12,094,030
Other Operating Income 3,888,007 4,256,712 3,816,272 3,352,448 2,789,630
Total Operating Income 16,358,525 16,824,730 15,828,003 15,755,827 14,883,660
Allowance for Impairment of Financial and (5,403,886) (3,256,619) (3,029,532) (4,079,805) (4,972,951)
Non-Financial Assets
Other Operating Expenses (8,100,784) (8,275,364) (8,004,128) (7,569,451) (7,432,899)
Operating Income 2,853,855 5,292,747 4,794,343 4,106,571 2,477,810
Non-Operating Income/(Expenses) - Net 93,565 20,150 56,475 48,449 97,114
Profit Before Tax 2,947,420 5,312,897 4,850,818 4,155,020 2,574,924
Tax Expenses (936,166) (1,400,712) (1,368,390) (1,177,282) (700,045)
Net Income 2,011,254 3,912,185 3,482,428 2,977,738 1,874,879
Other Comprehensive Income After Tax 1,278,553 744,539 (279,448) 8,538 3,446,518
Total Other Comprehensive Income 3,289,807 4,656,724 3,202,980 2,986,276 5,321,397

Consolidated Income Statements 2020 2019* 2018 2017 2016*

Net Income Attributable to:
Equity holders of parent 2,012,401 3,914,404 3,482,304 2,977,675 1,874,849
Non-Controlling Interest (1,147) (2,219) 124 63 30
Total Comprehensive Income Attributable to:
Equity holders of parent 3,290,954 4,658,943 3,202,856 2,986,213 5,321,367
Non-Controlling Interest (1,147) (2,219) 124 63 30
3,289,807 4,656,724 3,202,980 2,986,276 5,321,397
Earnings Per Share-Basic (Rp full amount) 80,72 156,92 139,67 118,50 74,60
Profit Before Tax (Actual) 2,947,420 4,953,897 4,850,818 4,155,020 2,850,708
Net Income (Actual) 2,011,254 3,642,935 3,482,428 2,977,738 2,081,717
Other Operating Income Profit Before Tax

2016-2020 Growth 2016-2020 Growth
5.3 5.3
4.8 4.9
4.1 4.2
2.9 2.9
2.5 2.6
2016* 2017 2018 2019* 2020 2016* 2017 2018 2019* 2020
Net Income Earnings Per Share-Basic

2016-2020 Growth 2016-2020 Growth
(Rp trillion) (Rp full amount))
3.9 156.92
3.5 139.67
3.0 118.50
1.9 2.0 80.72

74.60
2016* 2017 2018 2019* 2020 2016* 2017 2018 2019* 2020
*
Business As Usual (excluding)
2016: Income earned from strategic alliance
2019: Voluntary Retirement Program (VRP)

CASH FLOW STATEMENTS

in million Rupiah
Cash Flow Statements 2020 2019 2018 2017 2016

Cash Flow from/(to) operating activities 28,624,928 2,070,946 (749,516) 20,129,300 3,291,332
Cash Flow from/(to) investment activities (26,763,211) 1,694,831 (1,608,846) (8,946,122) (4,071,426)
Cash Flow from/(to) financing activities (6,583,642) 1,398,986 (5,146,047) (87,819) (3,733,655)
Exchange rate differences in cash and cash equivalents 302,450 (435,089) 566,687 154,962 (200,952)
Total (decrease)/increase cash and cash equivalents - net (4,419,475) 4,729,674 (6,937,722) 11,250,321 (4,714,701)
Cash and cash equivalents, beginning of period 32,458,388 27,728,714 34,666,436 23,416,115 28,130,816
Cash and cash equivalents, end of period 28,038,913 32,458,388 27,728,714 34,666,436 23,416,115
2016-2020 Cash Flow Growth 2016-2020 Cash Flow Growth

from Operating Activities from Investment Activities
1.7
28.6
-1.6
20.1 -4.1
-8.9
3.3
2.1
-0.7 -26.8
2016 2017 2018 2019 2020 2016 2017 2018 2019 2020
Cash Flow from operating activities Cash Flow from investment activities
2016-2020 Cash Flow Growth 2016-2020 Cash Flow Growth and

from Financing Activities Cash Equivalents end of Period
1.4
34.7
32.5
-0.09 28.0
27.7
23.4
-3.7
-5.1
-6.6
2016 2017 2018 2019 2020 2016 2017 2018 2019 2020
Cash Flow from financing activities Cash and cash equivalents end of period

Cash Flow Growth 2016-2020

(Rp trillion)
34.7
32.5
27.7 28.6 28.0
23.4
20.1
3.3
2.1 1.7 1.4
-0.09 -0.7 -1.6

-4.1 -3.7
-5.1
-6.6
-8.9
-26.8
2016 2017 2018 2019 2020
Cash Flow from Operating Activities Cash Flow from Financing Activities
Cash Flow from Investment Activities Cash and cash Equivalents End of Period
FINANCIAL RATIOS

Performance Ratios 2020 2019* 2018 2017 2016*

Financial Ratio
I. Capital
Capital Adequacy Ratio (CAR)** 21.92% 21.47% 19.66% 18.60% 17.96%
CAR Tier I 20.80% 20.20% 18.40% 17.31% 16.44%
CAR Tier II 1.12% 1.27% 1.26% 1.29% 1.52%
Fixed Assets to Capital 22.97% 18.73% 20.10% 19.98% 27.64%
II. Assets Quality
Non Performing Earning Assets to Total Earning Assets 2.82% 2.42% 2.64% 3.13% 3.41%
Non-Performing Loan Ratio 3.62% 2.79% 3.11% 3.75% 3.89%
Non-Performing Loan Ratio - Net 1.40% 1.30% 1.55% 2.16% 2.16%
Impairment Ratio 6.03% 3.81% 4.05% 5.10% 5.24%
Loan Loss Coverage 194.33% 113.60% 105.86% 107.16% 117.68%
*
**
After Loan and Market Risk Calculations

Performance Ratios 2020 2019* 2018 2017 2016*

III. Profitability
Return On Assets (ROA) 1.06% 1.99% 1.85% 1.70% 1.09%
Return On Equity (ROE)
Shareholders 5.01% 9.35% 9.09% 8.34% 5.81%
Tier I 5.33% 9.02% 9.49% 8.73% 6.79%
Debt to Equity 5.85 5.34 5.74 6.21 6.06
Debt to Assets 0.85 0.84 0.85 0.86 0.86
Net Interest Margin (NIM) 4.88% 5.31% 5.12% 5.60% 5.64%
Other Operating Income to Total Operating Income 23.77% 25.30% 24.11% 21.28% 18.92%
Cost to Income Ratio 48.95% 49.07% 50.21% 47.74% 49.40%
Operating Expenses to Operating Income (BOPO) 89.38% 82.44% 80.97% 83.48% 90.07%
Return On Assets (ROA) - Actual 1.06% 1.86% 1.85% 1.70% 1.20%
Return On Equity (ROE) - Actual
Shareholders (Actual) 5.01% 8.71% 9.09% 8.34% 6.46%
Tier I (Actual) 5.33% 9.02% 9.49% 8.73% 6.79%
Cost to Income Ratio (Actual) 48.95% 51.20% 50.21% 47.74% 48.50%
IV. Liquidity
Loan to Deposit Ratio (LDR) 82.91% 97.64% 97.18% 96.24% 98.38%
CASA Ratio 59.62% 55.35% 52.61% 52.55% 50.84%
V. Compliance
LLL Violation - - - - -
Statutory Reserve - Rupiah
Minimum Statutory Reserve 3.16% 6.10% 6.70% 6.74% 6.76%
Macroprudential Liquidity Buffer 25.98% 10.78% 6.09% 10.12% 12.05%
Statutory Reserve - Foreign Currency 4.05% 8.08% 8.14% 8.05% 8.33%
Net Open Position 1.77% 3.63% 1.20% 0.80% 1.66%
Net Open Position on Financial Positions -1.77% 2.46% 3.08% 5.10% 2.19%
*
**
After Loan and Market Risk Calculations

BUSINESS OPERATIONAL
HIGHLIGHTS
Consumer Banking (Rp trillion) 2020 2019 2018
Customer Deposits 106.0 104.7 96.5
- Current Account 1.9 2.0 1.6
- Saving Account 62.8 56.4 49.7
- Deposits 41.2 46.3 45.1
Total Loans 55.2 54.3 49.1
Non-Interest Income (Rp billion) 1,499 1,839 1,842
Corporate Banking (Rp trillion) 2020 2019 2018

- Deposits 23.7 22.5 24.1
Total Loans 63.2 72.1 70.0
Non-Interest Income (Rp billion) 437.0 645 610
Transaction Banking (Rp trillion) 2020 2019 2018

Customer Deposits – Cash Management 90.0 80.2 82.2
- Deposits 32.8 30.0 34.9
Total Loans 7.8 10.9 12.8
Non-Interest Income (Rp billion) 510 522 519
Commercial Banking (Rp trillion) 2020 2019 2018

- Deposits 8.7 8.8 10.6
Total Loans 36.2 46.5 50.8
SME Banking (Rp trillion) 2020 2019 2018

- Deposits 10.1 9.8 10.5
Total Loans 20.2 21.4 18.5
Sharia Banking (Rp trillion) 2020 2019 2018

- Deposits 15.7 22.4 15.3
Total Financing 31.9 33.1 26.5
Non-Financing Income (Rp billion) 313 345 202

SHARE
HIGHLIGHTS
INITIAL PUBLIC OFFERING
PT Bank CIMB Niaga Tbk (formerly PT Bank Niaga) conducted an Initial Public Offering based on the permission of
the Minister of Finance of the Republic of Indonesia No.SI-057/SHM/MK.10/1989 dated 2 October 1989 and listed on
the Indonesia Stock Exchange. Pursuant to the Underwriting Agreement and the Underwriter Intermediate Agreement
dated 29 September 1989, the Underwriter approved the issuance of 5,000,000 Common Shares with a nominal value
of Rp1,000 per share at the offering price of Rp12,500 per share.
Lead Underwriters: 4. PT Inter-Pacific Financial Corporation (Inter-Pacific);

1. PT First Indonesian Finance and Investment 5. PT Multinational Finance Corporation (MULTICOR);
Corporation (FICORINVEST); 6. PT Mutual International Finance Corporation (MIFC);
2. Bank Pembangunan Indonesia (BAPINDO); 7. PT Private Development Finance Company of
3. Merchant Investment Corporation (MERINCORP). Indonesia (PDFCI);
8. PT Usaha Pembiayaan Pembangunan Indonesia
Managing Underwriter: (UPPINDO);
PT First Indonesian Finance and Investment Corporation 9. PT Aseam Indonesia (ASEAM);
(FICORINVEST). 10. PT Danareksa (Persero).
Co-Underwriter: Supporting Institutions:

1. PT Finconesia; 1. Public Accountant, Drs. Siddharta & Siddharta;
2. PT Indonesian Finance and Investment Company (IFI); 2. Notary, Kantor Notaris Kartini Muljadi, SH;
3. PT Indonesian Investment International (INDOVEST); 3. Legal Council, Tumbuan & Associates.
Meanwhile, PT Bank Lippo Tbk as a company which merged into PT Bank CIMB Niaga Tbk effective 1 November 2008,
conducted an Initial Public Offering under the regulation of the Minister of Finance of the Republic of Indonesia No. SI-
059/SHM/MK.10/1989 dated 2 October 1989 of 6,800,000 Common Shares with a nominal value of Rp1,000 per share at
the offering price of Rp15,000 per share, and listed on the Indonesia Stock Exchange.
STOCK TRADING PERFORMANCE
Opening Highest Lowest Closing Value

Change Transactions Volume Frequency
Month Price Price Price Price (in thousand Rupiah)
2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019
January 970 915 980 1,210 885 915 895 1,105 -75 190 62,243,600 280,820,200 58,879,701 308,275,012 6,971 31,909
February 895 1,115 915 1,290 735 1,110 750 1,190 -145 75 88,972,500 199,922,600 73,660,686 241,890,557 10,493 21,347
March 750 1,195 850 1,240 515 1,055 615 1,055 -135 -140 77,925,500 68,601,800 52,443,502 78,301,491 8,893 11,070
April 625 1,060 740 1,135 590 1,020 635 1,065 10 5 105,310,300 55,629,000 71,480,024 59,606,441 13,933 10,509
May 635 1,065 675 1,100 595 950 650 1,115 15 50 59,485,300 89,352,800 37,364,365 89,577,657 10,686 10,898
June 650 970 830 1,175 650 960 720 1,115 70 145 115,378,000 142,060,600 84,229,089 153,527,334 14,166 17,919
July 720 1,130 935 1,170 720 1,060 770 1,075 50 -55 299,780,400 95,713,500 248,189,914 105,935,921 38,635 14,684
August 760 1,070 885 1,110 720 1,000 815 1,050 55 -20 182,804,000 45,923,400 149,393,049 49,029,893 22,017 7,273
September 800 1,050 845 1,060 685 990 720 1,005 -80 -45 62,810,300 53,185,100 48,408,439 53,945,621 13,573 8,730
October 720 1,005 790 1,045 720 945 760 975 40 -30 51,644,400 54,144,800 39,205,869 53,716,229 9,382 10,177
November 760 975 915 995 745 880 830 910 70 -65 109,216,300 46,125,700 90,096,739 43,907,459 15,810 8,895
December 830 910 1,170 1,005 820 910 995 965 165 55 424,403,000 53,296,600 447,680,118 51,586,734 51,403 6,535

Share Price (in Rupiah) Number Transactions Value Market

2020 of Shares Volume (in thousand Capitalization
Opening Highest Lowest Closing Outstanding (shares) Rupiah) (in trillion Rupiah)
1 Quarter
st
970 980 515 615 25,131,606,843 229,141,600 184,983,889 15.5
2nd Quarter 625 830 590 720 25,131,606,843 280,173,600 193,073,478 18.1
3rd Quarter 720 935 685 720 25,131,606,843 545,394,700 445,991,402 18.1
4 Quarter
th
720 1,170 720 995 25,131,606,843 585,263,700 576,982,726 25.0
Share Price (in Rupiah) Number Transactions Value Market

2019 of Shares Volume (in thousand Capitalization
Opening Highest Lowest Closing Outstanding (shares) Rupiah) (in trillion Rupiah)
1 Quarter
st
915 1,290 915 1,055 25,131,606,843 549,344,600 628,467,061 26.5
2nd Quarter 1,060 1,175 950 1,115 25,131,606,843 287,042,400 302,711,432 14.8
3rd Quarter 1,130 1,170 990 1,005 25,131,606,843 194,822,000 208,911,434 25.2
4th Quarter 1,005 1,045 880 965 25,131,606,843 153,567,100 149,210,421 24.2
STOCK PRICE MOVEMENTS
Trading Volume and Closing Stock Prices During 2020
1,200 450,000,000
400,000,000
1,000
895 995 350,000,000
830
770 815
800 750 760 300,000,000
720 720
635 650
615 250,000,000
600
424.4 200,000,000
400 299.8 150,000,000
100,000,000
182.8
200
105.3 115.4 109.2 50,000,000
89.0 77.9
62.2 59.5 62.8 51.6
- -
January February March April May June July August September October November December
Transaction Volume (million shares) Closing Stock Price (in Rupiah)
Trading Volume and Closing Stock Prices During 2019
1,400 300,000,000
1,190
1,200 1,115 1,115
1,105 1,075 250,000,000
1,055 1,065 1,050
1,005 975
1,000 965
910
200,000,000
800
150,000,000
280.8
600
199.9 100,000,000
400
142.1
95.7 50,000,000
200 89.3
68.6 55.6 45.9 53.2 54.1 46.1 53.3
- -
Transaction Volume (million shares) Closing Stock Price (in Rupiah)

CORPORATE ACTION are registered in the Bank’s Register of Shareholders,

Throughout 2019 and 2020, CIMB Niaga did not conduct or in accordance with the securities account balances
corporate actions in the form of stock split, reverse stock recorded at the collective custody with KSEI, as of the
split, stock dividend, bonus shares, or changes in share close of 29 April 2019.
nominal value.
On 25 March 2019, CIMB Niaga obtained OJK approval
However, in 2019, CIMB Niaga distributed the final cash through letter No. S-19/PB.33/2019 to buyback its shares
dividends for the 2018 financial year in accordance (shares buyback) for a maximum amount of 20 million
with the resolution of the Bank’s AGM on 15 April 2019, shares at a maximum cost of Rp25 billion, from the total
amounting to Rp696,485,584,153 (or a maximum of issued and fully paid up shares. This buyback plan was
20% of the Net Profit for the 2018 financial year). The previously approved by the shareholders through the
dividends were distributed to all Shareholders of both AGM on 15 April 2019, and will be completed no later
class A and class B shares totalling 25,131,606,843 shares than 18 months after the AGM date of CIMB Niaga. In
(before deducting the treasury stocks), therefore each accordance with this agreement, as of 31 December
holder/owner of 1 (one) share will receive dividends 2019, the Bank bought back 3,724,900 (full amount) of
of at least Rp27.71 (gross). Dividend payments were shares with the following detailed realization report of
made on 15 May 2019 (30 days after the Shareholders shares buyback as of June 2019:
Meeting resolution) to the shareholders whose names
Percentage of the Nominal

Average Share Amount of Shares Buyback from Remaining Cost of
Total Shares
No. Transaction Date Buyback Price the Nominal Amount of Shares Share Buyback
Buyback
(in Rupiah) to be Bought Back according to (in Rupiah)
the GMS
1 30 April 2019 1,215,700 1,065,04 6.1% 23,702,773,003
2 2 May 2019 1,596,200 1,062,59 14.1% 22,003,450,480
3 6 May 2019 535,000 1,039,19 16.7% 21,446,429,155
4 9 May 2019 378,000 1,056,06 18.6% 21,046,480,694
5 1 July - 31 December 2019* - - 18.6% 21,046,480,694
*)
Bank does not conduct a share buyback during the period.
The corporate actions in the form of Bonds/Sukuk Further, in 2020, CIMB Niaga distributed the final cash
issuances in 2019, are include: dividends for the 2019 financial year in accordance
1. Shelf Registration Sukuk Mudharabah I Bank CIMB with the resolution of the Bank’s AGM on 9 April 2020,
Niaga Phase II Year 2019 Series A; amounting to a maximum of Rp1,392,161,339,032
2. Shelf Registration Sukuk Mudharabah I Bank CIMB (gross) or a maximum of 40% of the Net Profit for the
Niaga Phase II Year 2019 Series B; 2019 financial year. The dividend has been distributed
3. Shelf Registration Sukuk Mudharabah I Bank CIMB to all Shareholders of both class A and class B shares
Niaga Phase II Year 2019 Series C; totalling 25,131,606,843 shares (before deducting the
4. Shelf Registration Bond III Bank CIMB Niaga Phase I treasury stocks), therefore each holder/owner of 1 (one)
Year 2019 Series A; share will receive dividends of at least Rp55.39 (gross).
5. Shelf Registration Bond III Bank CIMB Niaga Phase I The dividend payments were made on 8 May 2020 (30
Year 2019 Series B; days after the Shareholders Meeting resolution) to the
6. Shelf Registration Bond III Bank CIMB Niaga Phase I shareholders whose names are registered in the Bank’s
Year 2019 Series C; and Register of Shareholders, or in accordance with the
7. Subordinated Bond I Bank CIMB Niaga Phase I Year securities account balances recorded at the collective
2019 custody with KSEI, as of the close of 22 April 2020.

With regard to the shares buyback that has received OJK approval through the letter No. S-19/PB.33/2019 on 25 March
2019 and has been approved by the AGM of CIMB Niaga on 15 April 2019, the Bank has bought back 3,486,600 (full
amount) of shares, the following detailed realization report of shares buyback as of June 2020 and October 2020:
Percentage of the Nominal

Average Share Amount of Shares Buyback from Remaining Cost of
Total Shares
No. Transaction Date Buyback Price the Nominal Amount of Shares Share Buyback
Buyback
(in Rupiah) to be Bought Back according to (in Rupiah)
the GMS
1 30 March 2020 400,000 600 20.6% 20,806,024,694
2 1 April 2020 1,123,000 600 26.2% 20,130,463,562
3 3 April 2020 520,600 637 28.8% 19,798,343,711
4 8 April 2020 1,098,500 637 34.3% 19,097,033,731
5 28 April 2020 343,700 640 36.1% 18,876,647,792
6 1 May - 15 October 2020 *
- - 36.1% 18,876,647,792
*)
Bank did not conduct a share buyback during the period.
The corporate actions in the form of Bonds/Sukuk issuances in 2020, are include:
1. Shelf Registration Sukuk Mudharabah I Bank CIMB Niaga Phase III Year 2020 Series A;
2. Shelf Registration Sukuk Mudharabah I Bank CIMB Niaga Phase III Year 2020 Series B; and
3. Shelf Registration Sukuk Mudharabah I Bank CIMB Niaga Phase III Year 2020 Series C.
SUSPENSION OF STOCK TRADING AND/OR STOCK DELISTING

In 2019 and 2020, CIMB Niaga was not subject to any Stock Exchange sanction in the form of stock trading suspension
and/or stock delisiting.
BONDS, SUKUK AND CONVERTIBLE BONDS HIGHLIGHTS
OUTSTANDING BONDS AND SUKUK
Nominal Rating
Issuance Tenor (in Maturity Interest
Name of Bonds and Sukuk Currency Trustee
Date (year) billion Date Rate 2020 2019
Rupiah)
Shelf Registration Bond II 3 Nov 5 Rupiah 182 3 Nov 8.25% AAA AAA PT Bank Permata Tbk
Bank CIMB Niaga Phase I 2016 2021 (PEFINDO) (PEFINDO)
Year 2016 Series C
Shelf Registration Bond II 23 Aug 5 Rupiah 822 23 Aug 8.15% AAA AAA PT Bank Permata Tbk
Bank CIMB Niaga Phase II 2017 2022 (PEFINDO) (PEFINDO)
Year 2017 Series C
Bank CIMB Niaga Phase III 2017 2022 (PEFINDO) (PEFINDO)
Year 2017 Series C
Shelf Registration Bond II 20 Sep 3 Rupiah 137 20 Sep 8.50% AAA AAA PT Bank Permata Tbk
Bank CIMB Niaga Phase IV 2018 2021 (PEFINDO) (PEFINDO)
Year 2018 Series B
Bank CIMB Niaga Phase IV 2018 2023 (PEFINDO) (PEFINDO)
Year 2018 Series C
Shelf Registration Sukuk 15 Nov 3 Rupiah 559 15 Nov 9.25% AAA (sy) AAA (sy) PT Bank Permata Tbk
Mudharabah I Bank CIMB 2018 2021 (PEFINDO) (PEFINDO)
Niaga Phase I Year 2018
Series B

Nominal Rating
Rupiah)
Subordinated Bond III 15 Nov 5 Rupiah 75 15 Nov 9.85% AA AA PT Bank Permata Tbk
Bank CIMB Niaga Year 2018 2023 (PEFINDO) (PEFINDO)
2018 Series A
Subordinated Bond III 15 Nov 7 Rupiah 75 15 Nov 10.00% AA AA PT Bank Permata Tbk
Bank CIMB Niaga Year 2018 2025 (PEFINDO) (PEFINDO)
2018 Series B
Shelf Registration Sukuk 21 Aug 3 Rupiah 936 21 Aug 7.90% AAA (sy) AAA (sy) PT Bank Permata Tbk
Niaga Phase II Year 2019
Series B
Shelf Registration Sukuk 21 Aug 5 Rupiah 429 21 Aug 8.25% AAA (sy) AAA (sy) PT Bank Permata Tbk
Series C
Shelf Registration Bond III 19 Dec 3 Rupiah 1,066 19 Dec 7.55% AAA AAA PT Bank Permata Tbk
Year 2019 Series B
Shelf Registration Bond III 19 Dec 5 Rupiah 481 19 Dec 7.80% AAA AAA PT Bank Permata Tbk
Year 2019 Series C
Subordinated Shelf 19 Dec 5 Rupiah 83 19 Dec 8.05% AA AAA PT Bank Permata Tbk
Registration Bond I Bank 2019 2024 (PEFINDO) (PEFINDO)
CIMB Niaga Phase I Year
2019
Shelf Registration Sukuk 27 Mar 370 Rupiah 322 7 Apr 5.80% AAA (sy) - PT Bank Permata Tbk
Mudharabah I Bank CIMB 2020 days 2021 (PEFINDO)
Niaga Phase III Year 2020
Series A
Shelf Registration Sukuk 27 Mar 3 Rupiah 287 27 Mar 7.00% AAA (sy) - PT Bank Permata Tbk
Mudharabah I Bank CIMB 2020 2023 (PEFINDO)
Series B
Shelf Registration Sukuk 27 Mar 5 Rupiah 391 27 Mar 7.25% AAA - PT Bank Permata Tbk
Mudharabah I Bank CIMB 2020 2025 (PEFINDO)
Series C
Total Outstanding Bonds & Sukuk 6,806
MATURED AND SETTLED BONDS (2019 – 2020)
Nominal Rating
Rupiah)
Shelf Registration Bond III 19 Dec 370 Rupiah 276 29 Dec 6.50% AAA AAA PT Bank Permata Tbk
Bank CIMB Niaga Phase I 2019 days 2020 (PEFINDO) (PEFINDO)
Year 2019 Series A
Subordinated Bond II Bank 23 Dec 10 Rupiah 1,600 23 Dec 10.85% AA- AA- PT Bank Permata Tbk
CIMB Niaga Year 2010 2010 2020 (Fitch) (Fitch)
Bank CIMB Niaga Phase III 2017 2020 (PEFINDO) (PEFINDO)
Year 2017 Series B

Nominal Rating
Rupiah)
Shelf Registration Sukuk 21 Aug 370 Rupiah 635 31 Agt 7.10% AAA(sy) AAA(sy) PT Bank Permata Tbk
Mudharabah I Bank CIMB 2019 days 2020 (PEFINDO) (PEFINDO)
Series A
Shelf Registration Bond II 23 Aug 3 Rupiah 376 23 Agt 7.70% AAA AAA PT Bank Permata Tbk
Bank CIMB Niaga Phase II 2017 2020 (PEFINDO) (PEFINDO)
Year 2017 Series B
Bank CIMB Niaga Phase IV 2018 days 2019 (PEFINDO) (PEFINDO)
Year 2018 Series A
Year 2016 Series B
Bank CIMB Niaga Phase IV 2018 days 2019 (PEFINDO) (PEFINDO)
Year 2018 Series A
Total Matured Bonds & Sukuk 5,137
COMPANY RATING
No. Rating Agency Rating Rating Description Validity Period

1 Fitch Rating National rating at AA category represents expectancy of a very low Feb 2021 - Feb 2022
• Long-Term National AA+ (idn) risk of default relative to other issuers or debt notes in Indonesia.
Rating F1+ (idn) The F1 National Rating indicates a very strong capacity for on-time
• Short-Term National payment of financial obligations relative to other issuers or bonds
Rating issued in Indonesia.
2 PT Pemeringkat Efek AAA
id
The obligor’s capacity to meet its long-term financial commitment, Sep 2020 - Sep 2021
Indonesia (PEFINDO) relative to that of other Indonesian obligors, is superior.

AWARDS AND
CERTIFICATION
STP STP
Award Award
2019 2019
PRESENTED TO PRESENTED TO
PT Bank Central Asia Tbk. PT Bank CIMB Niaga Tbk.

IN RECOGNITION OF YOUR OUTSTANDING PAYMENT IN RECOGNITION OF YOUR OUTSTANDING PAYMENT
FORMATTING AND STRAIGHT-THROUGH RATE FORMATTING AND STRAIGHT-THROUGH RATE
Arnon Goldstein Arnon Goldstein

Head of Treasury Services, APAC Head of Treasury Services, APAC
BNY Mellon BNY Mellon
INTERNATIONAL AWARDS REGIONAL AWARDS

1 Name of Award 1 Name of Award 4 Name of Award
2020 Elite Quality Recognition Award The Asian Banker Risk Management The Asian Banking & Finance Corporate &
- U.S. Dollar Clearing MT103 99.35% Awards 2020 Investment Banking Awards 2020
- The Liquidity Risk Technology - Project Infrastructure Finance of the
Awarded by Implementation of the Year Year - Indonesia
J.P. Morgan - Syndicated Loan of the Year – Indonesia
Awarded by - Corporate & Investment Bank of the
The Asian Banker Year – Indonesia
2 Name of Award Awarded by

BNY Mellon STP Award 2019 The Asian Banking & Finance
- Recognition of Outstanding Payment 2 Name of Award
Formatting and Straight-Through Rate 2019 ASEAN Corporate Governance
Scorecard (ACGS)
Awarded by - Country Top 3 Publicly Listed
BNY Mellon Companies 5 Name of Award
- ASEAN Asset Class Publicly Listed The Asset Asian Awards 2020
Companies - Investment Awards: Best Bank for
Investment Solutions, Rates - Indonesia
3 Name of Award Awarded by - Investment Awards: Best Bank for
Citi US Dollar Payments Straight Through ASEAN Capital Markets Forum (ACMF) Investment Solutions, FX - Indonesia
Processing Excellence Award 2019
- Commercial Payments STP Rate 99%+ Awarded by
- Treasury Payments STP Rate 98%+ The Asset
3 Name of Award
Awarded by The BankQuality Consumer Survey and
Citibank Rankings 2020 6 Name of Award
- The Most Helpful Banks During Asia Risk Awards 2020
COVID-19 in Indonesia - House of the Year, Indonesia
- The 10th Most Helpful Banks During
4 Name of Award COVID-19 in Asia Pacific.
World Finance Digital Banking Awards Awarded by
2020 Asia Risk
Awarded by
- Best Mobile Banking Apps in Indonesia The Asian Banker
- Best Consumer Digital Banks in
Indonesia
Awarded by
World Finance

A N A L I S I S - S T R A T E G I P E R B A N K A N & K E U A N G A N
This is to Certify :
1st BEST CRM

Commercial Bank
92.21
th
Jakarta, July 23 2020
Eko B. Supriyanto Harry Puspito

Editor in Chief President Director

Red Hat APAC Innovation Awards Satisfaction, Loyalty, & Engagement Indonesia Green Awards 2020
2020 Awards 2020 - Biodiversity Improvement Category
- Digital Transformation - Rank I Customer Knowledge – BUKU IV
- Cloud-native Development Conventional Commercial Bank Awarded by
- Rank II Customer Influence - BUKU IV La Tofi School of CSR
Awarded by Conventional Commercial Bank
Red Hat, Inc. - Rank II Engagement - BUKU IV
Conventional Commercial Bank
- Rank V SLE Index 2020 - BUKU IV
Conventional Commercial Bank 6 Name of Award
8 Name of Award Indonesia Most Experiential Brand
Asian Local Currency Bond Benchmark Awarded by Activation Award 2020
Review 2020 Majalah Infobank - The Best Experiential Activation 2020
- Best Individuals Trading Indonesia - Rank through Kejar Mimpi Program
4 (Michael Isprihanto)
Awarded by
Awarded by 3 Name of Award SWA Media
The Asset Top Digital Company Award 2020
- The Best in Building Digital
Transformation Category BUKU IV
National Bank 7 Name of Award
NATIONAL AWARDS Awarded by
Banking Service Excellence Awards 2020
- Best Cash Recycling Machine (CRM) –
Majalah Marketing Conventional Commercial Bank
1 Name of Award
JCB Indonesia Award 2020
- Best Growth of Issuing Sales Volume in Awarded by
Indonesia 2019 Majalah Infobank
4 Name of Award
Infobank The Best Bank in Mortgage 2020
Awarded by - The Best Bank in Mortgage Year 2019
JCB International
8 Name of Award
Awarded by 20 Pilar Finansial Indonesia Award 2020
Majalah Infobank
Awarded by
The Iconomics

Dengan Bangga Memberikan Penghargaan Kepada:
PT BANK CIMB NIAGA TBK
sebagai
PERINGKAT KETERBUKAAN
ESG EMITEN TERBAIK
kategori
PERINGKAT KETERBUKAAN GOVERNANCE (G) EMITEN TERBAIK

PERINGKAT KETERBUKAAN ESG EMITEN SEKTOR PERBANKAN TERBAIK
PERINGKAT KETERBUKAAN ENVIRONMENTAL (E) EMITEN SEKTOR PERBANKAN TERBAIK
PERINGKAT KETERBUKAAN GOVERNANCE (G) EMITEN SEKTOR PERBANKAN TERBAIK
Jakarta, 17 November 2020
Primus Dorimulu
News Director BeritaSatu Media Holdings
Piagam BestSyariah2020 (32x24cm).indd 18 21/11/20 11.07

GRC & Performance Excellence Award Best Sharia Awards 2020 Environmental, Social & Governance (ESG) Award
2020 - Best Sharia Bank 2020 – Category 2020
- The Best GRC Overall for Corporate Sharia Business Unit with Assets of - Governance (G) Transparency – Best Issuer
Governance & Risk Management 2020 More Than Rp5 Trillion - ESG Transparency – Best Issuer in Banking Sector
(Foreign Banking) - Environmental (E) Transparency - Best Issuer in
- The Best Governance & CCO 2020 Awarded by Banking Sector
(Foreign Banking) - Fransiska Oei Majalah Investor - Governance (G) Transparency - Best Issuer in
Banking Sector
Awarded by - ESG Transparency – Best BUKU IV Category Bank
Business News Indonesia - Environmental (E) Transparency - Best BUKU IV
13 Name of Award Category Bank
Infobank Sharia Awards 2020 - Governance (G) Transparency - Best BUKU IV
- The Best Performance Sharia Business Category Bank
10 Name of Award Unit Commercial Bank 2020
IDX Channel Anugerah Inovasi Indonesia - Excellent for 5 Consecutive Years Awarded by
2020 - Excellent Financial Performance in 2019 Majalah Investor
- Main Award in Sustainability Category - 5th Best Overall Performance
for Bamboo Conservation Innovation - 2nd Best Teller
- 2nd Best Security
Awarded by 16 Name of Award
IDX Channel Awarded by Property & Bank Award 2020
Majalah Infobank - The Longest Tenure for Fixed Rate
Mortgage Loan
Awarded by
11 Name of Award Majalah Property & Bank
TOP GRC Awards 2020 “ 14 Name of Award
- Top GRC 2020 (5 stars) Best Sustainability Report from a Public
- Top BOC GRC 2020 Company 2019
- The Most Committed GRC Leader 2020 - A+ (highest) Rating for 2019 17 Name of Award
- Tigor M. Siahaan Sustainability Report The Best Contact Center Indonesia 2020
- Top High Performing Corporate - The Best Technology Innovation: Platinum
Secretary on GRC 2020 - Fransiska Oei Awarded by winner
Foundation for International Human Rights - The Best Team Leader Inbound - Large:
Awarded by Reporting Standards (FIHRRST) Gold winner
Majalah TopBusiness - The Best Agent English - Large: Silver winner
- The Best Supervisor - Large: Bronze winner
Awarded by
Indonesia Contact Center Association (ICCA)

CERTIFICATIONS
18 Name of Award 22 Name of Award 1 Name of Certificate

Housing Estate Awards 2020 Baznas Awards 2020 ISO 9001:2015
- The Best Bank in Mortgage Performance - Best Zakat Collector Partner - Education and Learning Services
Awarded by Awarded by Awarded by

Majalah HousingEstate Badan Amil Zakat Nasional (Baznas) SGS Indonesia
19 Name of Award 23 Name of Award

DataGovAi Award 2020 Indonesia Digital Marketing Champions
- Best Data Technology for Adoption AI 2020
2020 - Top 3 Future Digital Marketing Champion
2020 Category Bank
Awarded by
Asosiasi Big Data & AI (ABDI) Awarded by
SWA Media
20 Name of Award
Gatra Awards 2020 24 Name of Award
- Encouraging Productive Economic Indonesia Most Admired CEO 2020
Activities by Communities during the - Category Conventional Bank -
Pandemic through the Bazar Indonesia Outstanding Leadership in Increasing
Program Contribution for The National Economy
Through Various Financial Solution - Tigor
Awarded by M. Siahaan
Majalah Gatra
Awarded by
Majalah Warta Ekonomi
21 Name of Award
MURI Record Award
- The First Bank to Conduct an Online 25 Name of Award
Bazaar in Indonesia Anugerah Syariah Republika (ASR) 2020
- Best Sharia Business Unit – Category
Awarded by Sharia Business Unit (UUS)
Museum Rekor-Dunia Indonesia (MURI)
Awarded by
Republika

EVENT HIGHLIGHTS
23 JANUARY 30 JANUARY
Accountability Program - Ayo Menabung dan Berbagi Launch of Virtual Card Number (VCN) &
(AMDB) and Tour de Bank CIMB Niaga 2019 BizChannel@CIMB Mobile
Implementation of Financial Literacy Accountability for the ‘Ayo Menabung CIMB Niaga launched the Virtual Card Number (VCN) and
dan Berbagi’ (AMDB) and Tour de Bank (TDB) Programs During 2019 to BizChannel@CIMB Mobile for corporate customers on 30 January 2020 at
Stakeholders. the Four Seasons Hotel, Jakarta.
04 FEBRUARY 08 - 09 FEBRUARY
Kick Off for the 65th Anniversary of CIMB Niaga Xtra Xpo
Welcoming its 65th anniversary on 26 September 2020, CIMB Niaga held a Xtra Xpo is the annual CIMB Niaga event as a form of customer loyalty
press conference which became the kick-off to mark the commencement program and an appreciation to CIMB Niaga customers, where the
of CIMB Niaga’s series of anniversary activities with the theme “65 Years of customers can enjoy special offers from merchant partners, mortgages,
Serving Indonesia.” automotives, gadgets, travel to fashion and beauty, by redeeming Points
Xtra and paying with CIMB Niaga credit/debit card.
17 FEBRUARY 19 FEBRUARY
Inauguration of the Digital Lounge @Campus at UGM Launch of Ayo Menabung dan Berbagi (AMDB) 2020
CIMB Niaga inaugurated the Digital Lounge@Campus at the Faculty of Program
Economics & Business (FEB) Gadjah Mada University (UGM), Yogyakarta, Launch of ‘Ayo Menabung dan Berbagi’ (AMDB) 2020 Program. The AMDB
on 17 February 2020, officiated by Tigor M. Siahaan, President Director, is one of CIMB Niaga’s social responsibility programs, designed to provide
and Lani Darmawan, Consumer Banking Director CIMB Niaga and Prof. Dr. financial literacy and inclusion to high school students in Indonesia through
Paripurna, S.H., M. Hum., LL.M., UGM Deputy Rector for Cooperation and a variety of educational activities.
Alumni.

21 FEBRUARY 29 FEBRUARY
Launch of the First Communal Space CIMB Niaga Program Tour de Bank (TDB) 2020
As part of celebrating 65th Anniversary and implementing Transformation Launch of 2020 Tour de Bank Program. Tour de Bank (TDB) is one of CIMB
Forward23 “Semangat Perubahan”, CIMB Niaga launched the first co- Niaga’s social responsibility programs, designed to educate elementary
working space. Located at Sentraya Tower, Floor 32, Jl. Iskandarsyah II No. school students in Indonesia about financial literacy and inclusion, the
2, Jakarta, on 21 February 2020, the “OCTO Lounge” was inaugurated by benefits of savings, and an introduction of banking activities, by inviting
Rita Mas’Oen, Operations and IT Director and Hedy Lapian, Director of participating students to visit branch office.
Human Resources CIMB Niaga.
28 FEBRUARY 09 APRIL
Greater Jakarta Flood Donation Distribution The 2020 Annual General Meeting of Shareholders (AGM)
In cooperation with Lembaga Amil Zakat (LAZ) Al Azhar CIMB Niaga The 2020 AGM of CIMB Niaga on 9 April 2020, was held for the first time ever
conducted an emergency logistics assistance program for victims of floods by implementing the COVID-19 health protocol in 3 (three) separate rooms,
in the Bekasi area, which succeeded in raising Rp74,014,100,- of funds. each for the Management, Supporting Professionals and Service Institutions,
and the Shareholders and/or Proxy of Shareholders, which are interlinked
(online) through video screens and connected via video conference
(telepresence) with other AGM participants who cannot attend physically.
14, 15, 18 & 20 MAY 16 MAY
1st Management Update - Ramadan Berbagi “Sharing #KejarMimpi Leaders Camp with Pamungkas
& Caring” The Leaders Camp is an inspirational activity for the youth segment which
Since the first confirmed COVID-19 case entered Indonesia in early March aims to expand knowledge and soft skills through sharing sessions and talk
2020, most CIMB Niaga employees have carried out Work From Home shows from inspiring speakers.
(WFH) in accordance with management directives. However, the conditions
of the COVID-19 pandemic did not stop Management and Employees from
interacting actively with each other.

20 MAY 22 MAY - 24 OCTOBER
Donation for Ramadan Sharing #KejarMimpi Goes to Orphanage 2020

As part of the Ramadan Berbagi “Sharing & Caring” event, CIMB Niaga #KejarMimpi Goes to Orphanage (GTO) is an initiative to spread the spirit
donated packages of nine staple items (sembako) through CIMB Niaga of ‘Kejar Mimpi’ (Pursuing Dreams) for the nation’s next generation in
outsourcing vendors throughout Indonesia, totaling 2,678 people that the midst of a pandemic, especially for the younger siblings who are in
consist of security officers, drivers, cleaning service personnel affected by orphanages.
the COVID-19 pandemic.
12 - 14 JUNE 29 JUNE
#KejarMimpi Online Fest “Living the New Culture” Transformation of CIMB Niaga Internet Banking
CIMB Niaga held a #KejarMimpi Online Fest with the theme “Living The Services into OCTO Clicks
New Culture” on 12-14 June 2020, using the Kejar Mimpi applications. CIMB Niaga improves its internet banking services through the transformation
Participants of the Online Fest had the opportunity to take part in various from CIMB Clicks to OCTO Clicks, offering a breakthrough digital banking
discussions from personal development to psychology in dealing with life experience as well as more complex and sophisticated financial transaction
during and after a pandemic. solutions for individual affluent customers, aspiring entrepreneurs, and retail
merchant customers.
03 - 14 AUGUST 16 AUGUST
2nd Management Update - #GayaBaru Talks Digital #KejarMimpi Leaders Camp Independence Edition
with BMC The Leaders Camp is an inspirational activity for the youth segment which
Employees’ interest in being able to interact with all levels of BMC and aims to expand knowledge and soft skills through sharing sessions and talk
Senior Leaders has never decreased and is highly anticipated by CIMB shows from inspiring speakers.
Niaga employees. Therefore, a second face-to-face digital event was held
between the Management and Employees of CIMB Niaga with the theme
#GayaBaru Bincang Digital with BMC on 03 - 14 August 2020, attended by
6,256 employees from all over Indonesia.

04 SEPTEMBER 12 SEPTEMBER
National Customer Day Bamboo Conservation Program

CIMB Niaga commemorates the National Customer Day (Harpelnas) on 4 CIMB Niaga has a concern for the preservation of biodiversity in Indonesia,
September 2020, with the theme of “65 Years of Serving Indonesia”, in line one of which is through the implementation of the Bamboo Conservation
with CIMB Niaga’s 65th anniversary celebrations. Program first initiated in 2012.
13 SEPTEMBER 17 SEPTEMBER
#KejarMimpi Parentime Memorandum of Understanding Signing Ceremony

#KejarMimpi Parentime is an inspirational talk show aimed at young with CIMB Niaga and Institut Pertanian Bogor
families which is useful for providing insight in the field of family financial CIMB Niaga and Institut Pertanian Bogor (IPB) signed a Memorandum of
management and children’s education. Understanding concerning the Collaboration in Sharia Banking Education,
Research and Community Service, in a virtual signing ceremony on 17
September 2020 by Tigor M. Siahaan, President Director of CIMB Niaga dan
Prof. Dr. Ir. Arif Satria, SP., M,Si, the Rector of IPB.
22 SEPTEMBER 24 - 27 SEPTEMBER
Group CEO Townhall #KejarMimpi Online Fest 2.0 “We are the Change”
The Group CEO Townhall meeting, a routine annual event, is held #KejarMimpi Online Fest x Kejar Mimpi Community is a series of webinars
differently this year, namely by live streaming on 22 September 2020. organized by CIMB Niaga on 24-27 September 2020, conducted in the Kejar
Mimpi application in collaboration with some 29 Kejar Mimpi communities
throughout Indonesia. The #KejarMimpi Online Fest was also held in
celebrating the Indonesian National Community Day on 28 September 2020,
with the spirit of inviting Indonesia’s young generation to become agents of
change who bring positive change.

25 SEPTEMBER 26 SEPTEMBER -29 NOVEMBER
The 2020 Extraordinary General Meeting of Haya Online Festival 2020

Shareholders (EGM) The conditions of the COVID-19 pandemic did not stop CIMB Niaga from
CIMB Niaga’s EGM was held on 25 September 2020 with the same method being creative in providing its best services to stakeholders with the
or event mechanism as the 2020 AGM, in order to prevent the spread of implementation of the first online Festival of Islamic banking products and
the COVID-19 virus, in separate rooms which are interlinked through video services in Indonesia.
screens and online via video conferencing (telepresence).
01 OCTOBER 07 & 09 OCTOBER
Webinar “Digitalization of Banking in the New Commercial Banking Talks

Normal Era” CIMB Niaga held a series of webinars with the overall title of Commercial
CIMB Niaga held a Webinar with the theme “Banking Digitalization in the Banking Talks with the theme “National Economic Prospects Post-COVID-19
New Normal Era” on 1 October 2020 which was attended by more than Pandemic” on 7 and 9 October 2020 for customers of Commercial Banking.
200 customers, especially those of the Directorate of Treasury and Capital
Market, Small Medium Enterprise and Transaction Banking.
08 OCTOBER 23 OCTOBER
Virtual Workshop International Commercial Terms CIMB Niaga Scholarship Program 2020-2022
(Incoterms) Inauguration of the CIMB Niaga 2020-2022 Scholarship Program. The
CIMB Niaga held a virtual workshop on 8 October 2020 regarding CIMB Niaga Scholarship program is an implementation of the Bank’s social
International Commercial Terms (Incoterms) 2020 for customers using responsibility in the education pillar, carried out through the provision of
Trade Finance services. scholarship for Indonesian undergraduate students. Since 2006, the CIMB
Niaga Scholarship program has provided scholarship grants to a total of
1,077 students.

05 NOVEMBER 07 NOVEMBER - 12 DECEMBER
CIMB Preferred webinar – I Prefer hacking the future Jelajah Nusantara 2020
by way of established financial portfolio CIMB Niaga Syariah conducts virtual Intimate Gatherings for customers
CIMB Niaga held a special webinar for CIMB Preferred customers via the and prospective customers with the headline “Jelajah Nusantara.”
Zoom app with several resource persons namely Sandra Dewi, Entrepreneur
and Public Figure; Pandu Sjahrir, President Commissioner of SEA Group
Indonesia; and Henra Sensei, CFP Ambassador Qualified Financial Educator
& Legacy Designer, with Andini Effendi (Independent Journalist) as moderator.
Approximately 325 CIMB Preferred customers participated in the event.
11 NOVEMBER 27 NOVEMBER
Community Link Program 2020 Economic Outlook “Forward Looking & Banking in
Through the Community Link program, CIMB Niaga encourages active the New Normal”
involvement of community members and/or its employees in social CIMB Niaga Japan Desk, as part of the Corporate Banking Directorate,
activities that bring positive benefits to the surrounding communities. provides services to Japanese clients in Indonesia and shows our
appreciation to the customers through the Economic Outlook webinar
event organized on 27 November 2020 with the theme “Forward Looking &
Banking in the New Normal.”
27 NOVEMBER 07 DECEMBER
CIMB Niaga Syariah Sustainability Development Goal Collaboration for the Nation
Initiatives “Abhipraya Project” Kolaborasi Untuk Negeri (‘Collaboration for the Nation’) is an online
CIMB Niaga launched the Sharia Sustainable Development Goals (SDGs) gathering giving insights on the economic prospects for Indonesia in
Initiatives 2020 under the name “Abhipraya Project”, in a virtual launch 2021, the various achievement of CIMB Niaga Syariah during 2020, and
ceremony officiated by Tigor M. Siahaan, President Director, accompanied also about the challenges facing entrepreneurs in pursuing their dreams,
by Pandji P. Djajanegara, Director of Sharia Banking, and Fransiska Oei, especially during these challenging times.
Director of Compliance, Corporate Affairs and Legal CIMB Niaga, on 27
November 2020 with the tagline “Now For the Future.”

11 DECEMBER 11 DECEMBER
CIMB Preferred webinar – I Prefer to maximize 2020 Year-End Celebrations CIMB Niaga
situation for maximum gain! Approaching the end of the year 2020, with a spirit of ‘Semangat
CIMB Niaga conducted another special webinar for CIMB Preferred customers Perubahan’, CIMB Niaga on 11 December 2020 organized a live streaming
via the Zoom app, featuring Dr. Avliani SE, Msi, Senior Economist of INDEF ; event titled the ‘Year-End Thanksgiving Special 2020’ (SAT), attended by
Steven Satya Yudha, Head of Sales Marketing at Ashmore as resource persons, over 4,000 CIMB Niaga’s employees all over Indonesia.
and Zivanna Letisha as moderator. The event was attended by 136 CIMB
Preferred customers.
23 DECEMBER
Donation Distribution for Flash Flood in Banten

In collaboration with LAZ Al Azhar, CIMB Niaga provided emergency
assistance to victims of flash floods in Banten, in the form of ready-to-eat
meals, medicines, beddings, and sanitary items.


Management
Report
Report of the Board of Commissioners 47
Report of the Board of Directors 59
Report of the Sharia Supervisory Board 70
Annual Report Responsibility Statement 72

REPORT OF
THE BOARD OF COMMISSIONERS
The COVID-19 pandemic has exerted

pressures on many industries and,
faced with this condition, the Board
of Commissioners is committed to
overcoming the challenge by working
closely together with the Bank’s
management.
Dear Shareholders and Stakeholders,
Throughout 2020, the Board of Commissioners has affected economic growth globally and at the time of
continued to carry out the functions and duties of writing of this report, COVID-19 has infected more than a
supervision over the Board of Directors, including hundred million people resulting in over two million death
monitoring the management’s execution of the Bank’s worldwide. This pandemic has forced many countries
Business Plan (RBB) and 2019-2023 Sustainable Finance to enforce travel and mobility restrictions resulting in a
Action Plan (RAKB). In addition, they have also provided sharp decline of global business activity.
oversight on the implementation of the Bank’s strategy,
primarily on the aspects of loans, profitability, use of During this crisis, CIMB Niaga’s management have taken
information technology, human resources development, certain initiatives to mitigate the impact of COVID-19 on
good corporate governance, and the adoption of the Bank including implementing necessary procedures
sustainable finance. to stop the spread of COVID-19 within the Bank and
ensuring the safety of its staff. At the same time, the
As we are all aware, 2020 has been a challenging year. Bank has continued to support its customers, clients and
The spread of the Corona Virus (COVID-19) has adversely communities during this difficult year.

In response to this pandemic, governments around the an increase in banking liquidity with a Loan-to-Deposit
world have extended fiscal and monetary stimuli to (LDR) Ratio that declined to a level of 82.24% at the
support their respective economies. The unprecedented end of 2020 compared to 93.64% at the end of 2019.
government actions together with the introduction of Throughout 2020, Bank Indonesia has implemented an
COVID-19 vaccines at the end of the year have given accommodative monetary policy reducing the benchmark
renewed optimism and hope that going forward we interest rate of the BI 7-day Reverse Repo Rate (BI7DRR)
will see economic growth again. By the end of 2020, by 125 base points from 5.00% to 3.75% during the year.
economic conditions in both developed and developing The high liquidity and lower BI7DRR environment has
countries have improved resulting in higher global trade contributed to the decline of weighted average interest
volume and commodity prices as well as a recovery in the rates on deposits, working capital loans, and investment
global financial markets. We expect that the increased loans to 4.53%, 9.15% and 8.88%, respectively, by the end
risk appetite in the global financial markets will result of 2020. Bank Indonesia is expected to continue with its
in an increase in capital inflow to developing economies accommodative monetary policy in 2021 to support the
including Indonesia. recovery of the banking sector and the national economy.
This is shown by the additional 25 base point cut on 18
The domestic economy contracted by 2.07% in 2020, February 2021.
but is estimated to recover in 2021. Several economic
indicators on consumer and business demands have ASSESSMENT ON THE PERFORMANCE OF THE
shown improvements since the third quarter of 2020. The BOARD OF DIRECTORS IN MANAGING THE
Consumer Confidence Index rose to 96.5 in December BANK
2020 from its lowest level of 77.8 in May 2020. In the The COVID-19 pandemic has exerted pressures on many
business sector, the Manufacturing Index (PMI) rose to industries and, faced with this condition, the Board
51.3 in December 2020 from its lowest level of 27.5 in of Commissioners is committed to overcoming the
April 2020. The Indonesian economy also benefited from challenge by working closely together with the Bank’s
a relatively stable exchange rate and inflation rate. management. The priority is to minimize the adverse
impact of the pandemic on our customers and clients
Going forward, the success of the COVID-19 vaccination by providing additional liquidity support and assistance
program along with growing consumer demand and programs and thereby contributing to the recovery of
increasing business activities should drive economic businesses generally.
recovery. This recovery will also be supported by a
number of policies aimed at the productive sectors Amidst the challenging economic conditions, CIMB Niaga
including bank loan disbursements in response to was able to maintain its position as the second largest
rising demand and accelerated digitalization of finance, private sector bank in Indonesia by assets, with total
especially relating to the development of SMEs. assets reaching Rp280.9 trillion at the end of 2020. Total
consolidated net profit for the year 2020 amounted to
In the banking sector, the COVID-19 pandemic caused Rp2.0 trillion, resulting in an earnings per share of
a decline in loan growth by 2.41% in 2020. However, Rp80.72. CIMB Niaga also succeeded in generating
customer deposits increased by 11.11%. This resulted in third-party funds of Rp207.5 trillion, with a CASA ratio of

59.62% by the end of 2020, current accounts and savings Risk management remains a vital pillar supporting our
accounts rose by 14.14% and 14.41%, respectively. Given decision-making processes. Investments will continue
the difficult environment, the Board of Commissioners to be made to boost technology resilience, accelerate
considers that the Board of Directors has performed digital and analytics adoption, and transform customer
well in the management and administration of the Bank journeys for a better experience.
throughout 2020.
The CIMB Niaga team will be guided by the values that
In addition to the above, in line with the Bank’s make us a high performing organization.
commitment to developing its digital services to enhance
the customer experience, CIMB Niaga was able to book We believe that Forward23+ puts us in the right position to
loans of Rp174.8 trillion, mainly contributed by Consumer realise our full potential whilst navigating the challenging
Banking which grew 1.69%, consisting of mortgages market environment.
and auto loans which increased by 5.92% and 4.44%
respectively. The Board of Commissioners continuously reviews and
monitors the formulation and implementation of the
In carrying out our oversight duties, the Board of Bank’s strategy and policy, primarily focusing on the
Commissioners continues to provide direction, advice, formulation and oversight of the RBB, and the monitoring
and recommendations to the Board of Directors with of the Bank’s quarterly results. Pursuant to the OJK
respect to the management and administration of the Regulations No. 5/POJK.03/2016 on the RBB, the Board
Bank, a particular focus in maintaining strong liquidity, of Commissioners is mandated to oversee the execution
good asset quality, and proper cost controls. Moreover, of RBB that includes, among others, the policies and
input has also been provided with regards to anticipating strategies of Management. The results of this supervision
future economic challenges and the importance of is presented in the Report on Oversight of the Execution
adhering to prudential principles in disbursing loans to of RBB, submitted to OJK every semester.
ensure a strong capital position and adequate provision
for the Bank. We review and approve revisions to the RBB focusing on
providing oversight on the execution of the Bank’s 5 pillar
OVERSIGHT ON THE FORMULATION AND strategy, namely 1) playing at our strengths, 2) expanding
IMPLEMENTATION OF THE STRATEGIES AND CASA franchise, 3) discipline in cost management, 4)
POLICIES OF THE BANK preservation of capital and balanced risk culture, and
CIMB Niaga’s Strategic Plan supports and reflects the 5) leveraging information technology. The Board of
aspirations of CIMB Group’s recalibrated Forward23+ Commissioners considers that the Board of Directors has
Strategic Plan which sets out a clear purpose to build appropriately executed this 5 pillar strategy and has been
a high performing sustainable organization to help able to incorporate external banking business challenges
advance customers and society. This drives our vision to in its implementation of the Bank’s policies and strategy.
be the leading ASEAN bank. As such, we will continue to
accelerate growth in the Consumer and Small Medium
Enterprise (SME) segments whilst strengthening our
position in the Corporate and Commercial segments. We
will grow CASA and relentlessly pursue cost reductions
and capital preservation.

Assisted by the Committees, the Board of Commissioners potential to continue its growth in the banking and
also evaluated other key areas and provides reports financial services sector. This belief is grounded upon a
and recommendations to the Board of Directors. The number of factors including the realistic targets that have
Commissioners continue to remind the Board of Directors been set by the Board of Directors which are fully in line
to uphold the banking prudential principles while striving with the expectation of shareholders. The Bank targets a
to achieve the Bank’s growth targets. 3%-5% loan growth in 2021 supported by growth in third-
party funds of 3%-5% and a CASA ratio of 59%-63%.
OPINION ON THE BUSINESS PROSPECTS OF
THE BANK AS FORMULATED BY THE BOARD The assessment of the Board of Commissioners on the
OF DIRECTORS business prospects that have been prepared by the
With respect to the business prospects that have been Board of Directors is also based on the strength of CIMB
prepared by the Board of Directors and presented in the Niaga including its strong capital and liquidity position.
RBB, the Board of Commissioners is of the opinion that they With our financial and non-financial strengths, the Board
have generally been well formulated and are in line with of Commissioners is of the opinion that the Board of
the direction and objectives of the Bank and the business Directors has devised a reasonably prospective business
prospects have appropriately considered the external and plan. Nevertheless, the Board of Commissioners also
internal conditions of the Bank. Although growth has not reminds the Board of Directors to continue to be vigilant
fully recovered from the impact of the COVID-19 pandemic, and mitigate any risks that may arise from external
we remain optimistic that the economy will recover and factors, especially from the continuing challenges arising
resume its growth trajectory. This is supported by the from the COVID-19 pandemic.
introduction of the COVID-19 vaccine and the discipline
in complying with health protocols therefore allowing an INITIATIVES ON SUSTAINABILITY FINANCE
increase in mobility and business activity. CIMB Niaga has formulated the Sustainable Finance Action
Plan (RAKB) as a manifestation of the Bank’s commitments
The introduction of the COVID-19 vaccine has given rise to sustainable finance initiatives. This allows the Bank
to the expectation of a global economic recovery and an to contribute to the sustainable development goals
increase in risk appetite in the global financial markets while achieving a low-carbon economy by integrating
resulting in capital inflows to emerging markets including the aspects of the environment, social and governance
Indonesia. Moreover, with the accommodative monetary (ESG) in our business activities. The implementation
and macroprudential policies of Bank Indonesia, liquidity of sustainable finance at the Bank is pursuant to OJK
is expected to remain high, and combined with the low Regulation No.51/POJK.03/2017 on the Implementation
interest rate environment, this should provide support of Sustainable Finance by Financial Services Institutions,
for economic and business growth. Issuers, and Public Listed Companies; OJK Regulation No.
60/POJK.04/2017 on the Issuance and Terms of Green
The financial system has been strong in the face of the Bonds; President RI Regulation No. 59 of 2017 on the
pandemic and is expected to show continuing resilience. Implementation to Realize the Sustainable Development
In looking ahead, banking credit should return to its Goals; and the sustainability strategy of the CIMB Group.
normal growth in line with the economic recovery. The sustainability strategy of CIMB Niaga is also aimed
at realizing its Sustainable Finance vision to be the
The Board of Commissioners is confident that the Board leading ASEAN company that embraces the harmony
of Directors will be able to capitalize on the various of economic, social and environmental aspects with the
opportunities of the banking industry. The Board of mission to conduct sustainable business activities that
Commissioners believes that CIMB Niaga has great result in continuous and integrated growth.

The Board of Commissioners has observed that the Looking ahead, The Board of Commissioners believes
implementation of sustainable finance at CIMB Niaga that the challenges faced by the Bank will be more
continues to improve. In 2020, the Bank has applied complex, especially as a result of the disruptive
the policies and procedures of sustainable finance to innovation currently experienced in various industries
financing activities in the corporate banking segment, including banking. The Human Resources department
issued a high sustainability risk list, and carried out (HR) is at the forefront in facing these challenges. As such,
training programs on a continuous basis. At the the Board of Commissioners is fully behind the efforts of
end of 2020, the Bank entered a new chapter in the the Board of Directors in utilizing HR to support business
implementation of sustainable finance by issuing growth with the focus and strategy of embracing the
sector guidance for financing to palm oil plantations. new way of working, including flexible working hours,
This guideline testifies to our support for a low-carbon digitalization of the HR information systems, employee
economy. Not to be outdone, the Sharia Business Unit service automation, enhancement of HR data analytics,
(SBU) of CIMB Niaga also launched the Abhipraya development of 3D capabilities for internal talent and
project to accelerate the development of sustainable recruitment of the best talent in the market.
finance products and services as well as increase the
sustainable finance portfolios of CIMB Niaga. The Board INFORMATION TECHNOLOGY
of Commissioners will continue to oversee the Bank’s The Board of Commissioners has the opinion that
initiatives on sustainable finance. during 2020 the Board of Directors has implemented the
Information Technology developments and management
HUMAN RESOURCES strategy in a proper and effective manner. Amid the
CIMB Niaga has been effective in developing its people COVID-19 pandemic, CIMB Niaga was able to optimize
in 2020. The Board of Commissioners considers that the the use of technology as part of its efforts to mitigate
Bank’s human resources focus on capability sourcing, the impact of COVID-19 on its banking operations. At
capability building, a high performance organization the same time, the Bank was able to provide technology-
and HR digitalization has been able to overcome current based banking services that exceeded both expectation
challenges faced by the organization. standards and customer needs.
The spread of COVID-19 has resulted in a major change In 2020, CIMB Niaga also developed and utilized the
in the way our people work and learn. The Board of digital banking services on a broad scale by emphasizing
Commissioners has seen the increasing use of technology the Application Program Interface (API) that enabled
in day-to-day tasks during the pandemic and this shift in interaction between a third party and our banking
greater technological use has been effectively adopted services. CIMB Niaga concentrated its banking service
during the year. One example of this is the adoption of through branchless banking, customer experience and
new methods of learning through online learning and sales processes via digital delivery channels, as well as
e-learning from previously in-class learning sessions. enhancement of our mobile banking system capabilities.
The areas of focus for the e-learning training programs Going forward, we expect the Bank to adopt technological
in 2020 are on the Mandatory Certification Program, advances that are suitable for the Bank’s business
Development Program, Acceleration Program, 3D (Digital, and able to support service qualities that are effective,
Data Design) Program, Sales & Credit Program (including efficient, reliable and safe.
restructuring program), and Learning on the Go (LoG).

OBSERVATION ON IMPLEMENTATION OF THE FREQUENCY AND METHOD OF ADVISING

BANK GOVERNANCE THE BOARD OF DIRECTORS
In the view of the Board of Commissioners, the Advice from the Board of Commissioners to the
implementation of Good Corporate Governance Board of Directors is conveyed formally through
(GCG) at CIMB Niaga in 2020 was exemplary. The meetings and informally during working visits by the
four aspects of governance, namely governance Board of Commissioners and its various Committees.
commitment, governance structure, governance process Formal meetings comprise meetings of the Board of
and governance outcomes were implemented and Commissioners; meetings with the Committees under
manifested clearly to the customers, employees, public the Board of Commissioners; and joint meetings between
and other stakeholders. the Board of Commissioners and the Board of Directors.
The Board of Commissioners also observed that the Throughout 2020, the Board of Commissioners convened
Board of Directors had elevated the quality of GCG a total of 8 (eight) Board of Commissioners meetings and
implementation effectively and continuously on the 4 (four) joint meetings with the Board of Directors. In
basis of standards imposed by the Regulator and other these meetings, the Board of Commissioners discussed
international standards. As a result of these efforts, we a number of issues, which among others included the
are pleased that, in 2020, CIMB Niaga received a third- report on any follow up of the minutes of meetings
party recognition in the form of an award for being the of the Board of Commissioners; the Bank’s financial
Top 3 Indonesia and ASEAN Asset Class category from statements; and report of the Committees under the
the ASEAN Capital Markets Forum for our consistency Board of Commissioners.
in applying the highest standards of GCG (beyond
compliance). The Board of Commissioners considers the input of its
Committees when providing advice and recommendation
In applying risk management, in 2020 CIMB Niaga to the Board of Directors. The Committees have actively
implemented risk management processes in the carried out oversight on their respective areas of
framework of Enterprise Wide Risk Management (EWRM) responsibilities.
that covers the identification process of risks that are
considered significant in the banking business. EWRM OBSERVATION ON THE IMPLEMENTATION OF
has substantial bearings on mitigating the potential or THE WHISTLEBLOWING SYSTEM
impact of various risks faced by the Bank through the CIMB Niaga has and implements a policy on its
formulation of the Bank’s risk appetite and risk tolerance Whistleblowing System to provide an outlet for every
on each type of risk, as well as on the development employee of the Bank and or external parties to submit
of policies and procedures of risk management that a report on alleged breaches over the principles of
are suited for maintaining risk levels at set limits. Corporate Governance, code of ethics, and prevailing
Furthermore, CIMB Niaga has also deployed the internal policies and procedures of the Bank, based on evidence/
control system that relies on the Three Lines of Defense data/information that can be substantiated and with
concept, which constitutes the latest implementation in good faith in the interests of the Bank.
the strategy of the internal control system of COSO –
Internal Control Framework. The Bank has appointed a third party to manage
the whistleblowing reports in order to provide safe
Overall, it can be seen that CIMB Niaga has implemented assurances to employees and other stakeholders to
effective governance to protect the rights of shareholders, have the courage to report fraudulent activities or
ensure fair treatment of all shareholders, involve indications of fraud. The types of fraud reported are
the roles of stakeholders, disseminate information corruption, scams, theft, embezzlement and forgery. The
comprehensively, accurately and timely, and discharge whistleblowing system (WBS) can also be used to report
the duties of the Board of Commissioners and the Board non-fraud misdemeanors such as breaches of Code of
of Directors responsibly. Ethics and Conduct.

The Board of Commissioners considers the appointment The Nomination and Remuneration Committee is
of a third party to manage the whistleblowing reports as responsible to assisting the Board of Commissioners
the right policy in order to ensure the independence and in carrying out its duties and oversight function on
professionalism of the system whereby the whistleblower issues related to the nomination of and remuneration
can be assured that there will be no conflict of interest for members of the Board of Directors and Board of
in the resolution of complaints, and that, over the long- Commissioners. Throughout 2020, the Nomination and
term, it will increase the trust from stakeholders in the Remuneration Committee has performed its duties and
management of the Bank’s whistleblowing system. The responsibilities well.
role of the Board of Commissioners in the management
of the whistleblowing system is, among others, to ensure The Risk Oversight Committee is responsible for assisting
that every report is properly followed up. All alleged the Board of Commissioners in carrying out its duties and
misdemeanors that will have been proven right following oversight function and in advising the Board of Directors
the investigation will receive sanctions in accordance to obtain reasonable assurances that the implementation
with the prevailing rules. of risk management by the Bank has sufficiently met the
procedures and methodologies of risk management.
ASSESSMENT OF THE PERFORMANCE Such, the business of the Bank is always controlled within
OF COMMITTEES UNDER THE BOARD OF the Bank’s risk tolerance and profitability objectives.
COMMISSIONERS Throughout 2020, the Risk Oversight Committee has
In discharging its duties and responsibilities, the Board performed its duties and responsibilities well.
of Commissioners is assisted by the Audit Committee,
Nomination and Remuneration Committee, Risk The Integrated Governance Committee is responsible to
Oversight Committee and Integrated Governance assisting the Board of Commissioners in carrying out its
Committee. The Board of Commissioners considers duties and oversight function on the implementation of
that these committees have performed their duties and Governance in the respective Financial Institutions within
responsibilities well in 2020 in supporting the oversight the CIMB Indonesia Financial Conglomerate, and to be
function of the Board of Commissioners. The committees in line with the Guidelines on Integrated Governance.
have provided their input and recommendations to the Throughout 2020, the Integrated Governance Committee
Board of Commissioners in line with their respective has performed its duties and responsibilities well.
areas of responsibilities. The basis for performance
assessment of these committees includes, among CORPORATE SOCIAL RESPONSIBILITY
others, the collective performance of the committees, The Corporate Social Responsibility (CSR) programs
individual performance of committee members and of CIMB Niaga constitute the Bank’s commitments to
chairman of the committee. The assessments cover the developing a sustainable economy by incorporating social
structure of the committees, effectiveness of meetings, and environmental aspects into the Bank’s business.
and effectiveness in the execution of their duties and The Board of Commissioners is aware that success in
responsibilities in 2020. business does not merely depend on operational and
managerial excellence alone, but also the support of the
The Audit Committee is responsible for assisting and communities in which the Bank operates.
facilitating the Board of Commissioners in carrying out
its duties and oversight function on issues related to
the quality of financial information, internal control,
effectiveness of internal and external audits, effectiveness
of risk management and compliance to prevailing laws
and regulations. Throughout 2020, the Audit Committee
has performed its duties and responsibilities well.

In the view of the Board of Commissioners, in over six On 9 March 2020, CIMB Niaga received the resignation
decades of operation, CIMB Niaga has had the moral notice of Tengku Dato’ Sri Zafrul Tengku Abdul Aziz from
duty to develop businesses and advance the national his post as President Commissioner of the Bank, due to
economy sustainably by constantly serving our customers his appointment as the Finance Minister of Malaysia. His
and other stakeholders with integrity, complying with resignation was approved in the AGM of the Bank on
all prevailing laws and regulations, and upholding 9 April 2020. The Board of Commissioners thanks Tengku
good business ethics. To this end, we fully support the Dato’ Sri Zafrul for his guidance, contribution and service
CSR programs and activities of the Bank that focuses as President Commissioner of CIMB Niaga and wishes
on four key aspects, namely education, development him well in his important appointment.
and empowerment of communities, philanthropy, and
environment. Our CSR focus on these four aspects is As at the preparation of this Annual Report, members
aligned with the vision and mission of the Sustainable of the Board of Commissioners of CIMB Niaga are as
Finance of the Bank. follows:
CHANGES IN THE COMPOSITION OF THE Didi Syafruddin Yahya : President

BOARD OF COMMISSIONERS Commissioner
There was a change in the composition of the Board of Glenn Muhammad Surya Yusuf : Vice President
Commissioners in 2020. This change was implemeted Commissioner
with the aim of enhancing the implementation of Good (Independent)
Corporate Governance, especially with respect to Jeffrey Kairupan : Independent
increasing the diversity of board members in terms of Commissioner*
background of expertise/experience, nationality, gender Sri Widowati : Independent
and age. Moreover, the addition of new members of the Commissioner
Board of Commissioners with expertise and credibility Dato’ Abdul Rahman Ahmad : Commissioner**
should strengthen the performance of the Board of David Richard Thomas : Commissioner
Commissioners.
*)
Appointed as Senior Independent Commissioner of the Bank through the
Circular Resolution of the Board of Commissioners of CIMB Niaga No.014/
The Annual General Meeting of Shareholders (AGM) on DEKOM/KP/VI/2019 of 28 June 2019.
**)
Effective upon obtaining OJK approval and/or fulfilled the requirements as
9 April 2020 approved the changes to the composition determined in the OJK approval.
of the Board of Commissioners of CIMB Niaga, with the

appointments of Didi Syafruddin Yahya as President The Board of Commissioners expresses its gratitude
Commissioner effective 7 July 2020, and Glenn and highest appreciation to Mr. Zulkifli M. Ali and Pri
Muhammad Surya Yusuf as Vice President Commissioner Notowidigdo, whose tenures expired at the AGM of 9 April
(Independent) effective 16 September 2020. Furthermore, 2020 for their contributions and dedication as members
the Extraordinary General Meeting of Shareholders (EGM) of the Board of Commissioners, enabling the Bank to grow
on 25 September 2020 has approved the appointment of into being the second largest private bank in Indonesia.
Dato’ Abdul Rahman Ahmad as Commissioner effective The Board of Commissioners would like to welcome
upon the approval of OJK (in the process of fit and proper the new members of the Board of Commissioners and
test). wish them well in their new assignments. With the
new composition, the Board of Commissioners will
strengthen its oversight duties and contribute towards
the sustainable growth of CIMB Niaga.

A CLOSING WORD OF APPRECIATION

The Board of Commissioners is optimistic that CIMB
Niaga will be able to improve its performance through
tireless effort and consistent adherence to the principles
of GCG. We implore all executive management and
employees of the Bank to work together in synergy
with and among all stakeholders, to successfully deliver
service from the heart that exceeds the expectations of
all of our customers.
On behalf of the Board of Commissioners, we express

our heartfelt gratitude to the Board of Directors,
the executive management, and all #teamCIMB for
their tireless effort throughout 2020 in the face of
extraordinary challenges. To all business partners
and other stakeholders, we also express our highest
appreciation for the excellent cooperation that we have
forged throughout the financial year of 2020. We hope
that our excellent collaboration will continue in the years
ahead. The Board of Commissioners believes that CIMB
Niaga has great potential to continue its growth and
evolution in the banking industry in the future.
10 March 2021
DIDI SYAFRUDDIN YAHYA

President Commissioner

BOARD OF COMMISSIONERS
Didi Syafruddin Yahya

Glenn Muhammad Surya Yusuf

Vice President Commissioner
(Independent)
Jeffrey Kairupan
Independent Commissioner*

Sri Widowati Dato’ Abdul Rahman Ahmad**

Independent Commissioner Commissioner
David Richard Thomas

Commissioner
*)
Appointed as Senior Independent Commissioner of the Bank through Circular Resolution of the Board of
Directors of the Bank No. 014/DEKOM/KP/VI/2019 as of 28 June 2019.
Effective upon obtaining OJK approval and/or fulfilled the requirements as determined in the OJK approval.
**)

Performance
Ikhtisar Management
Laporan Company
Profil Analisis
Management
dan Pembahasan
Discussion Manajemen
Risk
Highlights
Utama Manajemen
Reports Perusahaan
Profile and
Manajemen
Analysis Management
Risiko
16
58 CIMB
CIMB
NIAGA
NIAGA
LAPORAN
ANNUAL
TAHUNAN
REPORT 2020
REPORT OF
THE BOARD OF DIRECTORS
CIMB Niaga focuses on growing

market share in the segments that
constitute the Bank’s key strengths
and well-understood target markets,
namely consumer and SME.
To Our Valued Shareholders and Other Stakeholders,
2020 was a watershed in the history of CIMB Niaga Through this Annual Report, we are pleased to present
amid the challenges to the banking industry brought the execution of CIMB Niaga’s corporate strategy in
by COVID-19. To ensure the business continuity of the response to the multi-faceted challenges throughout
Bank and customers, in the short and medium terms we 2020 as well as the performance of the Bank and our
are focused on ensuring the health and welfare of our prospects going forward.
employees, helping our customers in sustaining their
businesses by providing their financial needs, as well as MACRO ECONOMIC TRENDS IN 2020
supporting government programs to revive the national The International Monetary Fund (IMF) projected a global
economy. For the medium to long term, we remain economic growth contraction of 3.5% in 2020 as a result of the
focused on growing the Bank’s business by providing the COVID-19 pandemic. COVID-19 has infected more than 100
best services to our customers driven by qualified human million people and caused the death of more than 2 million
capital and supported by current digital technology. In 65 people around the world. Implementation of social distancing
years of service, we remain committed to taking an active protocols in many countries has resulted in declining business
role in innovating to provide better banking products and activities in all industries including banking.
services for our customers in Indonesia.
There were some significant changes to all aspects of
our behaviours as well as the way we do our business to
adapt and survive in this very challenging year. Towards

the end of 2020, the global economic trends showed early Strategy of CIMB Niaga has become more relevant
improvements, fuelled by increasing economic activities in these challenging times, all the more reason why
in both first-world and developing nations. Furthermore, the strategy has consistently been adopted. The Five
the successful trials and availability of the COVID-19 Pillars are: 1) playing to our strengths, 2) expanding the
vaccine has created strong optimism and introduced CASA franchise, 3) discipline in cost management, 4)
greater mobility and economic activities especially since preservation of capital and balanced risk culture and 5)
some nations have already begun administering these leveraging Information Technology.
vaccines since early December 2020.
1. Playing to Our Strengths
The COVID-19 pandemic has had a detrimental impact on CIMB Niaga focuses on growing market share in the
the Indonesian economy as the economy contracted by segments that constitute the Bank’s key strengths
2.07% in 2020 whereas it grew 5.02% in 2019. Improving and well-understood target markets. The Consumer
trends in the economy started to show in the third and SME segments are our main focus for growth, not
quarter of 2020, giving rise to the hope that a number of only because they represent our primary strengths,
sectors will grow positively and hence affect the national but also because of the significant growth potential
economic growth. for these two segments in the future. Moreover,
Consumer and SME Banking segments provide
The Banking sector was directly affected by the COVID-19 Risk-adjusted Return on Capital (RAROC) that are
pandemic. A drastic decline in economic activities in relatively higher than other banking segments.
both business and public consumption, especially during
the early period of the pandemic, resulted in declining Throughout 2020, Consumer Banking successfully
loan growth along with deterioration in asset quality. booked a positive loan growth amid weakening
This ultimately led to an increase in provision expenses domestic economic growth due to the pandemic.
and thus lower profitability for the bank. However, bank Consumer Banking loans grew 1.69% to Rp55.2
liquidity improved due to growth in customer deposits trillion from Rp54.3 trillion a year before. Mortgages
amid the slowing loan growth. This was marked by the and auto loans grew by 5.92% and 4.44% respectively
decrease in the average Loan to Deposit Ratio (LDR) to a and became the backbone of the consumer segment
level of 82.24%. growth. This grew CIMB Niaga’s mortgage market
share from 6.4% to 6.6%.
BANK PERFORMANCE ANALYSIS 2020
We consider SME as a segment with good potential.
STRATEGY AND POLICY Although the segment experienced negative loan
The Board of Directors sets out the business strategy growth of -5.75% in 2020 as a direct result of the
and policy of the Bank. In 2020, the Board of Directors COVID-19 pandemic, we are confident that the SME
continued execution of the 5 pillar Strategy as our core segment will be one of the first to recover along with
strategy. In its conception, the Board of Directors has the expectation of the national economic recovery.
set forth the ideas and formulation behind the strategy, By collaborating with other business units through
which is key for the Bank to achieve business growth. In the referral and cross selling programs, and our
order to ensure that the Bank can effectively implement strengths on digital technology, we work closely with
the strategy and policy, the Board of Directors has our SME customers, helping them to recover their
broken down the elements and incorporated them into businesses more quickly.
the RBB of 2020.
Sharia Banking is another business unit that is
Seeing how 2020 was filled with challenges, the Board of resilient against crisis. Although outstanding financing
Directors keenly focused on identifying and responding declined by 3.52% to Rp31.9 trillion, Sharia Banking
to changes that occurred in our business environment, was still able to post a growth of 17.56% in Profit
both externally and internally, in order to achieve Before Tax. The implementation of Dual Banking
the Bank’s business goals and objectives. The 5 pillar Leverage Model (DBLM) coupled with the Sharia First

initiative resulted in a strong performance for the to 48.95%, at a time when the Bank’s income has
Bank. declined as a result of the pandemic.
2. Expanding the CASA Franchise 4. Preservation of Capital and Balanced Risk

We believe that low cost of fund will provide a Culture
competitive advantage for CIMB Niaga and enable us As the second largest private bank in Indonesia in
to grow good quality assets sustainably. Our efforts terms of asset size, CIMB Niaga is committed to
to increase the composition of CASA have been and maintaining sound capital adequacy. In 2020, the
will continue to be our focus to reduce the Bank’s Bank had a Capital Adequacy Ratio (CAR) of 21.92%,
cost of fund. So far, these efforts have yielded good well above the prevailing minimum statutory ratio.
results over the years, continuing through to 2020 as
our CASA ratio rose to 59.62% from 55.35% in 2019. CIMB Niaga has implemented the Enterprise Wide Risk
Management (EWRM) as the guideline for the Bank’s
The Bank successfully undertook several initiatives business activities and decision-making processes
and programs in an integrated manner between enabling the Bank to build a balanced culture of
consumer banking and business banking. The “Risk and Compliance” in all of its business units.
offering of bundling products and services such Risk awareness is also instilled by strengthening the
as payroll, cash management and other banking roles of the Risk Control Unit (RCU) as well as quality
transactions represents our efforts to optimize our assurance in all functions of the organization.
relationship with customers from different banking
segments. Furthermore, the use of data analytics The use of the latest technology, such as machine
and digital capabilities have been instrumental in learning in data-driven risk management, is
providing the right products and services to targeted continuously enhanced to help the Bank in managing
customers. Efforts to improve business processes risk more effectively. At the same time, the risk culture
and the customer experience remain front and is instilled in all CIMB Niaga personnel at all levels of
center to growing our customer base and maintaining the Bank’s operations.
customer loyalty.
The NPL ratio of the banking industry in Indonesia
3. Discipline in Cost Management has increased as a result of the pandemic including
Discipline in cost management is key to achieving not that of CIMB Niaga whose NPL rose to 3.62% in 2020
only operational efficiency but also high productivity from 2.79% the year before. We continue to place a
in a consistent and sustainable manner. At a time strong emphasis on asset quality by strictly adhering
when growth is hindered by unfavourable economic to prudential principles in order to ensure sound
conditions, the Bank has not stopped investing capital adequacy and a sufficient level of provisioning
in information technology, digital and robotics expenses to anticipate future economic challenges.
capabilities in order to automate business processes,
as well as high-volume and repetitive tasks. Hence, 5. Leveraging Information Technology
employees can focus on high value added activities. The Bank sustains its commitment to invest in
Other efficiency measures are carried out in optimizing information technology in order to strengthen
the costs of telecommunications, transportation, and its position as a leader in information technology
outsourcing. and digital banking services. The use of the digital
platform remains a main focus of the Bank in
In 2020 the number of our ATMs decreased by 184 providing the best customer experience and safest
as part of the Bank’s efforts to optimise its network banking transactions. The Bank continues to explore
footprint while encouraging customers to migrate opportunities for innovation and to exploit data
to online banking. These initiatives succeeded in analytics to maintain a competitive advantage.
reducing the Cost to Income Ratio from 49.07%

Changes in customer transaction behaviour have Through various sustainable efforts, we succeeded in
seen an increase in the use of digital channels to increasing the operational efficiency of the Bank which
serve this growing need. Even though the Bank is marked by the declining Cost to Income (CIR) ratio
possess advanced and the latest features in our from 49.07% to 48.95%. Liquidity was well maintained
digital banking, we continue to develop new features as evidenced by the Liquidity to Capital Ratio (LCR) of
and service capabilities in both the retail and non- 235.17%. Meanwhile, consolidated net profit for the year
retail banking segments with the aim of enhancing under review was Rp2.0 trillion, or a net Earnings per
the customer experience. Share (EPS) of Rp80.72.
A number of initiatives from the Information Other achievements by the Bank in 2020 were various
Technology team in conjunction with the Digital awards and certifications that were received at national,
Centre of Excellence began long before the COVID-19 regional and international levels. Amid the COVID-19
pandemic. The initiatives include OCTO Clicks, pandemic, the Bank is grateful for having been designated
API (Application Programming Interface) gateway, the Most Helpful Banks During COVID-19 in Indonesia
sales force tools, collaboration with a fintech firm and the 10th Most Helpful Bank During COVID-19 in Asia
in financing, opening of an online account with Pacific through a survey of bank customers in The Bank
securities and fintech firms, OCR (Optical Character Quality Consumer Survey and Rankings 2020 by The Asian
Recognition), biometrics and chatbot. The initiatives Banker. This testified to our commitment in supporting
are supported by upgrades of systems and IT and helping customers to deal with the pandemic. CIMB
infrastructures to meet dynamic business needs and Niaga was also selected as one of the companies in
future growth opportunities. Indonesia that qualify for the ASEAN Asset Class Category
in the assessment of the ASEAN Corporate Governance
PERFORMANCE ACHIEVEMENT OF 2020 IN Scorecard (ACGS). In 2020 CIMB Niaga earned a total
COMPARISON WITH TARGETS of 38 awards and certifications, the details of which are
Amid these challenging conditions, as of year-end presented in the Section on Awards and Certifications in
2020, CIMB Niaga has been able to maintain its level of the Discussion of Financial and Operational Highlights of
performance, despite pressure on purchasing power this Annual Report.
and consumer demand. The Bank has responded by
continuing implementation of a selective and prudent ANTICIPATING CHALLENGES
policy in providing loans to all segments of our banking The COVID-19 pandemic, which has brought multi-
business. Overall, CIMB Niaga’s total loans outstanding in dimensional crises on a global scale, is unprecedented.
2020 amounted to Rp174.8 trillion, a decline of 10.03% It has become a major challenge for CIMB Niaga in 2020.
from Rp194.2 trillion in 2019. However, total loans in Overall, the banking industry has experienced declines
the Bank’s Consumer Banking segment increased by in loan growth and profitability as a result of increased
1.69% from Rp54.3 trillion a year ago to Rp55.2 trillion in loss provisioning on credit risk. As such, the Bank
2020. This growth was primarily driven by loan growth in strives continuously to maintain sound liquidity, asset
mortgages and auto loans. quality, cost management and a reliable control and risk
management system during these difficult times. Equally
On the funding side, in line with our strategy to increase important is our effort to look after the health and welfare
the portion of low cost funds, the Bank’s CASA ratio rose of Bank employees, helping customers to maintain their
significantly to 59.62% from 55.35% a year before, mainly business continuity and meet their financial needs, as
due to the growth of CASA by 14.28% to Rp123.7 trillion. well as to support government programs to revive the
We expect our strategy to increase CASA will continue to national economy.
reduce our cost of funds in the long run. The Bank’s total
customer deposit grew by 6.10% to Rp207.5 trillion in However, there is always a silver lining in every cloud. As
2020, from Rp195.6 trillion a year before. the frontrunner in digital banking in Indonesia, we see
the COVID-19 pandemic as an opportunity for the Bank
to innovate continuously in the delivery of our services,

providing unmatched customer experience through the strength of CIMB Niaga’s digital banking services. In line with
changes in customer preferences for banking transactions, we continue to complement the features of our digital
services through a diverse range of applications such as OCTO Clicks, OCTO Mobile, BizChannel@CIMB and other digital
services, all of which are able to deliver reliable banking services amid the pandemic.
In addition, the Bank also strives to accelerate the use of digital tools and data analytics for various internal business
processes, such as to support sales processes, implement risk management, decision making, and other operating
processes in the interest of cost efficiency.
ANALYSIS OF OTHER KEY PERFORMANCES
Key Activities and Types of Products and Services

CIMB Niaga carries out business activities in the banking services of funding and lending at the most competitive
interest rates. The products and services that we offer, including the loan disbursement to SME business customers,
are presented in the section of Company Profile in the discussion on the Products and Services of CIMB Niaga.
Interest Rates on Deposits and Loans

In 2020, CIMB Niaga’s offered interest rates on deposits and loans in the Rupiah currency were as follows:
Base Lending Rates by Segment

Interest Rates on
Description Loans Consumer Loans
Rupiah Deposits
Corporate Retail Mortgage Non-Mortgage
2020
March 9.40% 10.10% 9.55% 9.95% 4.45%
June 9.40% 10.05% 9.50% 9.95% 4.11%
September 9.40% 9.95% 9.50% 9.95% 3.86%
December 9.40% 9.95% 9.50% 9.95% 3.62%
Organizational Structure
To ensure the continuity of leadership within the Bank and its business, especially that which pertains to critical positions
within the organization, the Bank carries out a successor identification process in a structured and integrated manner,
combined with the development process of the successors. Our organization is also reviewed continuously to enhance
its effectiveness and efficiency, ultimately to ensure the continuity of the organization going forward.
Operating Network and Business Partners

CIMB Niaga forges close cooperation with a number of business partners both at home and abroad to increase the
Bank’s resilience, competitiveness, and efficiency in achieving the targets set in the RBB. A number of collaborations to
provide financial products and services as well as the best options on banking transaction access in 2020 included the
cooperation on bancassurance products capitalizing on the Bank’s distribution networks and customers as the target
market. The Bank also undertook other collaborations in an effort to expand its business and increase the sustainable
performance of the Bank.
Number, Type and Location of Branches

As of year-end 2020, CIMB Niaga’s banking activities are supported by a network of 451 branch offices, 4.316 ATM units,
133 Cash Deposit Machine (CDM) units and 801 Cash Recycle Machine (CRM) units, as well as 12,899 personnel (includes
subsidiaries employee) throughout Indonesia. With strong commitments towards integrity, diligence, emphasis on
customer needs, and a winning spirit, CIMB Niaga will exert all efforts to create synergies among the business units and
with the CIMB Group.

Share Ownership of Members of the Board In line with the improving Indonesian economy, the
of Directors, Board of Commissioners, and growth of banking loans is expected to be positive. OJK
Shareholders within the Bank’s Business Group estimates loan growth in 2021 could reach the range of
The share ownership (either direct or non-directly) of the 7.5% +/- 1% or in tandem with the continuing prospect of
members of the Board of Commissioners and the Board economic recovery as well as fiscal and monetary stimuli,
of Directors who are currently active and/or appointed in and macroprudential policies.
2020 within the business group of either CIMB Niaga or
the CIMB Group, is in accordance with the information Lower lending interest rates and higher consumer
presented in the Corporate Profile Section of this demands will drive consumer and corporate loans
Annual Report. All members of the Board of Directors upwards in 2021. The extension of the loan restructuring
and the Board of Commissioners do not hold any share program by OJK will also drive loan demands in line with
ownership in the Subsidiary Entities. improving sales and corporate liquidity.
Material Changes in the Bank and Subsidiary Entities SUSTAINABLE FINANCE INITIATIVES
We can report that, throughout 2020, there were no CIMB Niaga has implemented Sustainable Finance since
material changes in either the Bank or Subsidiary Entities. 2019, namely by integrating environment, economy, and
social aspects into the risk management and business
BUSINESS PROSPECTS strategy of the Bank to ensure that our business activities
We are highly optimistic of the long term business create positive impacts for stakeholders over the long-
prospects for CIMB Niaga. In general, the Bank’s business term period in a comprehensive and integrated manner.
prospects can be viewed from two factors, namely the Furthermore, as one of the largest financial institutions
macroeconomic conditions, including those of the in the country, CIMB Niaga is aware of the importance of
banking sector, and the internal condition of the Bank. the role that financial institutions can undertake in their
business activities to support sustainability in the interest
Globally, economic recovery is expected to continue as of achieving Sustainable Development Goals (SDGs)
people’s mobility increases and the economic stimulus in Indonesia, as well as in adapting to climate change
continues. The monetary and fiscal stimulus that will towards a low-carbon economy.
continue in many countries in 2021 is expected to
accelerate economic recovery from the effects of the As one of our commitments in Sustainable Finance,
COVID-19 pandemic. the Bank has developed an Action Plan for Sustainable
Finance, which consists of 1) developing products and/
On the domestic front, Indonesia’s economic recovery or services and increasing the portfolio of Sustainable
will depend on that of the global economy, especially Finance, 2) enhancing the Bank’s capacity for Sustainable
with regards to export and foreign direct investment that Finance, 3) internal adjustments including risk
will require some time to return to pre-pandemic levels, management and governance, 4) Corporate Social and
for similar reasons. Nonetheless, based on recent trends, Environmental Responsibilities.
the Indonesian economy has been improving since the
third quarter of 2020, albeit still in negative growth As of year-end 2020, the implementation of sustainability
territory. The government efforts through strategic and sustainable finance principles have continued to
policies and economic stimuli will continue in order to increase, and include among others, the completion of
turn the national economic wheel towards growth in the sustainable finance procedure and the mitigation
2021. Based on government projections in its 2021 State of sustainability risk related to Bank financing activities,
Budget, the economy is expected to grow in the range of especially in the corporate banking sector; a high
5%. Aside from that, economic growth in 2021 will largely sustainability risk list and sector guide for oil palm
depend on the accelerated eradication of COVID-19 both plantation financing; undertaking training in Sustainable
nationally and globally. Finance on a continuous basis; calculation and efficiency
efforts on carbon emissions; as well as CSR programs
that are in line with sustainability principles such as

Community Link, female empowerment, financial literacy OPTIMIZING INFORMATION TECHNOLOGY

and inclusivity, and the bamboo conservation program In Information Technology, CIMB Niaga focuses on the
that is undertaken holistically. By year-end 2020, the implementation of strategy and policy in anticipating
CIMB Niaga Sharia Business Unit had initiated the launch the impact of COVID-19 on the business and operational
of the Abhipraya project, which contains a number of processes of the Bank. The Bank has developed
initiatives to accelerate the development of products and/ information technology efficiently, on time, and cost
or services as well as increase the portfolio of sustainable effectively in creating technology-based banking products
finance at CIMB Niaga. and quality services which are reliable and secured and
hence should propel business development of the Bank.
HUMAN RESOURCE MANAGEMENT
In managing Human Resources (HR), CIMB Niaga focused CIMB Niaga has implemented the right strategy in the
on four key items in 2020. They are Capability Sourcing area of Governance, and carried out innovations and
that focuses on the strategy of fulfilling the need for improvements to information technology and operational
human capital to support business growth, Capability processes on a continuous basis. The Bank has developed
Building that focuses on enhancing the capabilities of and delivered digital banking services broadly with an
human capital through 3D knowledge and skills, High emphasis on the Application Program Interface (API)
Performance Organization that focuses on a strategy and implementation of the Cloud ecosystem to create
of rewards based on merits and on projects, and HR faster interaction with business partners through digital
Digitalization that focuses on the strategy of developing channels.
automated HR processes and reporting, and the
digitalization of the HR system. In addition, the Bank’s IT security has been strengthened
in terms of safeguarding the Bank’s confidential data
In addition, we continue to urge HR management to through the Safety Incident Management Platform,
respond to future challenges, including among others the Endpoint Response and Detection System, and
the implementation of an integrated HR system, HR Digital Signature for internal processes. CIMB Niaga’s
Dashboard, Robotic Process Automation (RPA), and commitment in IT security capabilities has been
Forward Way of Working. These innovations and proven and certified by ISO 27001:2013 - Information
adaptations in the HR field are expected to support the Management System awarded in January 2021.
Bank’s efforts to provide innovative banking services and
solutions to customers and create a delightful customer In developing digital banking, CIMB Niaga has focused
experience. on emphasizing optimal service on branchless banking,
customer experience, and sales processes through digital
More specifically, we will continue to exert every effort channels, as well as increasing the capability of mobile
to protect the safety and health of our employees and banking system. In addition, the Bank also includes
prevent the proliferation of COVID-19 within the Bank, digital banking services for financial and non-financial
chiefly by implementing strict health protocols that are transactions, including account opening based through
mandatory for every employee. As part of the prevention, mobile applications.
management, communication, and other employee
activities, the Bank has carried out several actions With the right use and optimization of Information
which include, among others, forming the CIMB Niaga Technology, to manage the Bank will be managed
COVID-19 Task Force whose members are the heads strategically, provide and develop business processes
of the operating units of Human Resources, Business that are both efficient and effective while ensuring their
Continuity Management, Operating Risk Management, alignments with the goals of the Bank, and ensure a
Strategic Procurement & Admin Property Management, robust and comprehensive IT risk management. The
and Compliance; implementing the Work from Home Bank has also designed and developed a core banking
(WFH) for non-critical operating units and the Split application in-house to ensure innovation, speed and the
Operation Policy for critical operating units, to ensure unique value proposition of CIMB Niaga that is superior
normal continuity of Bank operations. to other banks.

BANK GOVERNANCE ASSESMENT ON THE PERFORMANCE

CIMB Niaga is highly committed to the implementation OF COMMITEES UNDER THE BOARD OF
of Good Corporate Governance (GCG) consistently DIRECTORS
and qualitatively delivered in all aspects of the Bank’s In discharging its duties and responsibilities, the Board of
business activities. At CIMB Niaga, GCG is not merely Directors is assisted by four Executive Committees, which
meeting the Bank’s obligations, but is part of the belief are the Risk Management Committee, Asset & Liability
system to operate with transparency and accountability Committee, IT Steering Committee, and Credit Policy
in the management of the Bank. The practices of Good Committee. The Board of Directors is of the opinion
Corporate Governance at CIMB Niaga are founded upon that throughout 2020, the duties, responsibilities and
four pillars: Governance Commitment, Governance discussions in the meetings of the Executive Committees
Structure, Governance Process and Governance were discharged capably and effectively.
Outcome. These four pillars constitute the accountability
of CIMB Niaga to all stakeholders, comprising customers, The criteria and basis for consideration in the
employees, shareholders, government and the general assessment of the Executive Committees are based
public. The development of GCG is in line with best on the respective terms of reference comprising of the
practices on a continuous basis and its consistent number of meetings convened; attendance of Directors;
implementation will encourage the Bank to create values Service Level Agreement (SLA); minutes of meetings;
on its business attitude and action; provide high value actions taken on arising matters; and the distribution of
services, be innovative, helpful, efficient and effective; and meetings invitations. The attendances of Directors in the
create a control system that can ensure accountability on committee meetings in 2020, including resolutions taken
a par with the associated business risk. and discussions in the meeting can also be a reference
for assessing the performance of committees under the
CIMB Niaga continues to strive to become a bank with Board of Directors.
the best implementation of Corporate Governance in
order for every program and plan to be fruitfully realized CORPORATE SOCIAL RESPONSIBILITY
to expectation. As such, GCG is improved and enhanced CIMB Niaga is fully aware that the success of any bank
every year. In 2020, the Bank has improved and achieved does not depend on the performance of Management
GCG initiatives including, among others, the Signing of and the operation of the Bank alone, but is also highly
a Declaration of Integrity Pact, Code of Ethics and Anti- dependent on the support of the communities in
Corruption Commitments by the Board of Commissioners which the Bank operates, where business and social
and Board of Directors; issued the Governance Policy that interactions occur constantly between the Bank and
comprises the Integrated Governance Policy of the CIMB the communities. As such, CIMB Niaga places great
Indonesia Financial Conglomerate and the Governance importance on the implementation of Corporate Social
Policy of CIMB Niaga and the Guideline Framework for Responsibility (CSR), which in addition to aiming for
Subsidiary Entities; and issued the Corporate Charter of the creation of a harmonious and mutually beneficial
the CIMB Indonesia Financial Conglomerate. relationship between the Bank and the communities,
also seeks to achieve the the Bank’s sustainable finance
In 2020, as a result of the hard work and commitment of mission, namely conduct sustainable business activities
the Bank in GCG implementation, CIMB Niaga once again that result in continuous and integrated growth.
succeeded in earning the appreciation of Top 3 Indonesia
and ASEAN Asset Class category from the ASEAN Capital The Bank also undertook the CSR program as a
Markets Forum for consistent implementation of GCG manifestation of CIMB Niaga support for the United
based on the highest standard (beyond compliance). Nations Resolution on 21 October 2015 on Sustainable
Not resting on our laurels, the Bank also undertook Development Goals (SDGs). Subsequently, pursuant
measurement of the quality of our GCG implementation to OJK Regulation No. 51/POJK.03/2017 on the
through self-assessment pursuant to OJK Circular Implementation of sustainable finance, CIMB Niaga is
Letter No. 13/SEOJK.03/2017 on the Implementation of committed to carrying out CSR programs and activities
Corporate Governance for Commercial Banks. CIMB that support the principles of sustainability.
Niaga consistently achieved a score of 2 (two) with the
predicate of “Good” in the self-assessment that is carried
out every semester.

Throughout 2020, CIMB Niaga contributed a total of The AGM also approved the reinstatement of Vera
Rp28.0 billion for its CSR programs that were allocated Handajani, Lani Darmawan, Pandji P. Djajanegara and
to the four main focal points of the Bank’s CSR, Fransiska Oei as members of the Board of Directors of
namely education, development and empowerment, CIMB Niaga. With these changes, the composition of the
philanthropy, and environment. Other social activities of Board of Directors of CIMB Niaga as of this Annual Report
the Bank were carried out through the Qardhul Hasan is as follows:
Fund amounting to Rp16.4 billion. • President Director: Tigor M. Siahaan
• Director: Lee Kai Kwong
Responding to the challenges of the COVID-19 pandemic, • Director: John Simon
the Bank made an innovative initiative by carrying out • Director: Vera Handajani
its CSR activities through on-line training programs for • Director: Lani Darmawan
bamboo farmers, financial literacy and inclusion through • Director: Pandji P. Djajanegara
Tour the Bank and Ayo Menabung dan Berbagi (Let’s Save • Director, concurrently serving as Compliance
and Share), and training empowerment for the disabled. Director: Fransiska Oei
Meanwhile, a bamboo conservation program was carried • Director: Tjioe Mei Tjuen
out by transplanting 5,000 Bamboo Betung shoots in
Ngada, Flores, East Nusa Tenggara. A WORD OF APPRECIATION
In closing, on behalf of the Board of Directors, I express
CIMB Niaga are committed to continuing the CSR our highest appreciation to the Board of Commissioners
programs with thorough planning, accountability, and for their advice, direction, and recommendations to the
pursuant to prevailing policies and regulations, in order Board of Directors throughout 2020. We also express
to provide additional value to shareholders and all other our gratitude to our customers and business partners
stakeholders. for their support, trust, and excellent cooperation that
has been forged in all these years. We thank from the
CHANGES IN THE COMPOSITION OF THE bottom of our hearts the CIMB Niaga people who have
BOARD OF DIRECTORS exerted their best efforts with dedication and love in
In 2020, the composition of the Board of Directors of CIMB discharging their duties and responsibilities towards
Niaga underwent a change on the basis of the resolution realizing our common Vision and Mission. Last but not
of the Annual General Meeting of Shareholders (AGM) least, to the remaining stakeholders who we cannot
on 9 April 2020. The AGM accepted the resignation of address one by one, we hope to continue our excellent
Rahardja Alimhamzah from his post as Director of the working relationships in the future, enabling CIMB Niaga
Bank effective 9 April 2020 or as at the closing of the to achieve continuous and sustainable growth.
Meeting, due to his decision to pursue a new career. In
addition, there were other Directors whose tenure had 10 March 2021
ended, namely Rita Mas’Oen, Megawati Sutanto and
Hedy Lapian. We express our gratitude and highest
appreciation to all members of the Board of Directors for
their service and dedication to the Bank.
The AGM also appointed Tjioe Mei Tjuen as Director of TIGOR M. SIAHAAN
the Bank effective from the closing of the AGM and after President Director
the approval of OJK. We welcome Ibu Tjioe Mei Tjuen and
wish her well in her new assignment. With her extensive
experience in banking operations and information
technology, we hope the changes in the composition of
the Board of Directors will provide the best solutions for
the continuing growth of the Bank.

BOARD OF DIRECTORS
Tigor M. Siahaan
President Director
Lee Kai Kwong

Director
John Simon
Director
Vera Handajani
Director

Lani Darmawan Pandji P. Djajanegara

Director Director
Fransiska Oei
Director
Tjioe Mei Tjuen

Director

REPORT OF THE SHARIA

SUPERVISORY BOARD
Bismillaahirrahmaanirrahiim Assalamu’alaikum wa Amid the COVID-19 pandemic, we have seen that UUS
Rahmatullaahi wa Barakatuh, CIMB Niaga was able to meet its assets growth target,
driven by the increasing portion of low-cost fund in its
Alhamdulillaahi rabbil ‘alaamiin, with praise and third party funds mix composition as the main impetus,
gratitude we extend to the presence of Allah Subhanahu while still maintaining Allowance for Impairment Losses
wa Ta’ala for His mercy and grace to us in carrying out at an adequate level. Implementation of the DBLM
our entrusted duties and responsibilities. Prayers and strategy, along with the ‘Sharia First’ program within it,
greetings to the Prophet Muhammad salallaahu alaihi wa enabled UUS CIMB Niaga to grow its assets by 5,39%, or
sallam and his family and friends. an increase of Rp2.3 trillion, from Rp42.5.5 trillion in 2019
to Rp44.8 trillion in 2020. Total Sharia financing stood at
Throughout 2020, the Sharia Supervisory Board (DPS) of Rp31.9 trillion, with the Non Performing Financing (NPF)-
the Sharia Business Unit (UUS) of CIMB Niaga carried out gross ratio maintained at a level of 1.10%. Total low-cost
its duties and responsibilities to supervise and provide customer deposits (CASA) stood at Rp14,1 trillion, an
advice and recommendations that can propel the growth increase of Rp3,9 trillion or a rise of 38,74% from Rp10,2
and performance of UUS CIMB Niaga. Pursuant to Bank trillion in 2019. The performance was also marked with
Indonesia Regulation No. 11/33/ PBI/2009 and Bank an achievement of profit before tax (PBT) amounting to
Indonesia Circular Letter No. 12/13/ DPbS regarding Rp1.4 trillion, a growth of 17.56% from Rp1.1 trillion in
the Implementation of Good Corporate Governance for the previous year.
Sharia Commercial Banks and Sharia Business Units,
DPS supervises the activities of the UUS CIMB Niaga in For all these accomplishments in 2020, on behalf of
accordance with the Sharia principles as part of the Bank’s the DPS, I express our appreciation for the efforts and
commitment to applying good corporate governance and dedication of Management and all employees in the
maintaining the confidence of all its stakeholders. development of UUS CIMB Niaga. We are optimistic that
with our pure and sincere endeavors in upholding the
We also ensure that the Fatwas from the National Sharia Sharia principles, together we can carry UUS CIMB Niaga
Council (DSN-MUI) have been applied in all aspects of the to a sustainable long-term growth, and continue to cater
UUS CIMB Niaga business, and that we collaborate closely our Sharia banking products and services to the needs of
with all of CIMB Niaga’s Management and employees. the people.
In general, we assessed that UUS CIMB Niaga performed Finally, the Sharia Supervisory Board expects the
well in 2020. The Sharia banking transactions were carried Management of UUS CIMB Niaga to always keep
out in accordance with the provisions established by the their spirit up in pursuing the established targets to
Authority/Regulator as stipulated in POJK/PBI and SEOJK/ achieve success in the coming years. In closing, let us
SEBI, the Sharia provisions in the DSN-MUI fatwas, the always pray to Allah SWT that He may grant us health,
DPS opinions, and the General Policy on the Compliance accommodation, and benevolence in all that we aspire
of the Sharia Bank. These Sharia transactions comprise and hope to achieve. Aamiin yaa rabbal ‘alamin.
financing, funding, servicing and the initiatives of product
development and other innovations. Waassalamu’alaikum wa Rahmatullaahi wa Barakatuh,
DPS also carried out various oversight activities, On behalf of the Sharia Supervisory Board
including a more in-depth and comprehensive focus on
the development of the Dual Leverage Banking Model
(DBLM), supported by the implementation of the ‘Sharia
First’ program. In addition, DPS brought its supervision to
the business unit periodically, and carried out reviews to
approve proposals on products, policies and procedures,
as well as on other matters that relate to compliance with PROF. DR. M. QURAISH SHIHAB, MA
the Sharia principles, in the form of DPS opinions. Chairman of the Sharia Supervisory Board

SHARIA SUPERVISORY BOARD
DR. YULIZAR DJAMALUDDIN SANREGO, M.EC. PROF. DR. M. QURAISH SHIHAB, MA PROF. DR. FATHURRAHMAN DJAMIL, MA
Member Chairman Member
71
ANNUAL REPORT
RESPONSIBILITY STATEMENT
Board of Commissioners’ Responsibility Statement for the 2020 Annual Report of PT Bank CIMB Niaga Tbk
We the undersigned, Board of Commissioners of PT Bank CIMB Niaga Tbk hereby declare that all information in the 2020
Annual Report of PT Bank CIMB Niaga Tbk is presented in its entirety, and that we take full responsibility for the correctness
of the contents of this Annual Report.
This statement is made in all truthfulness.
10 March 2021
By the undersigned,
Didi Syafruddin Yahya

Glenn Muhammad Surya Yusuf

Vice President Commissioner (Independent)
Jeffrey Kairupan Sri Widowati Dato’ Abdul Rahman Ahmad*) David Richard Thomas
Independent Commissioner Independent Commissioner Commissioner Commissioner
*)
Effective upon obtaining OJK approval and/or fulfilled the requirements as determined in the OJK approval

Board of Directors’ Responsibility Statement for the 2020 Annual Report of PT Bank CIMB Niaga Tbk
We the undersigned, Board of Directors of PT Bank CIMB Niaga Tbk, hereby declare that all information in the 2020 Annual
Report of PT Bank CIMB Niaga Tbk is presented in its entirety, and that we take full responsibility for the correctness of the
contents of this Annual Report.
This statement is made in all truthfulness.
10 March 2021
By the undersigned,
Tigor M. Siahaan
President Director
Lee Kai Kwong John Simon Vera Handajani

Director Director Director
Lani Darmawan Pandji P. Djajanegara Fransiska Oei Tjioe Mei Tjuen

Director Director Director Director



Company
Profile
General Company Information 77
CIMB Niaga at A Glance 78
Name Changes Information 79
Membership in Associations 79
Milestones 80
Corporate Vision, Mission, Culture 82
and Core Values
Organization Structure 85
Corporate Identity (Logo) 88
Business Activities 89
Business Network and Operating Areas 92
Board of Commissioners’ Profiles 94
Board of Directors’ Profiles 98
Sharia Supervisory Board’s Profiles 103
Information on Changes of Management 105
Members After The Fiscal Year 2020
Senior Executives Profiles 106
Employees and Competency 117
Development Statistics
Shareholder Composition 121
Chronology of Shares Issued and Listing 126
Chronology of Other Securities Listing 127
Corporate Group Structure 128
Subsidiaries, Associations, 130
and Investee Companies
List of Business Partnership 133
Capital Market Supporting 134
Institutions and Professionals
Information on Company Website 135
Education and/or Training of the Board of 138
Commissioners, Board of Directors, Committees,
Corporate Secretary and Internal Audit Unit

GENERAL COMPANY
INFORMATION
Company Name ISIN Code

PT Bank CIMB Niaga Tbk (CIMB Niaga) D1000098007
Familiar Name SWIFT Code

CIMB Niaga BNIAIDJA
Line of Business Number of Employees 2020

Banking 12,064 Employees
Date of Establishment Total Assets 2020

26 September 1955 Rp280.9 trillion
Legal Basis of Establishment 2020 Office Networks

Deed No. 90 made before Raden Meester Soewandi As of 31 December 2020, CIMB Niaga has 451 networks
dated 26 September 1955 and amended by Deed consisting of conventional and sharia branch offices. More
No. 9 dated 4 November 1955 before the same detailed information related to the office networks can be
Notary. The deed of establishment was ratified by the found in the Operational Areas and Network section at
Ministry of Law and Human Rights (formerly Ministry Company Profile Chapter of this Annual Report, and branch
of Justice and Human Rights) No. J.A.5/110/15 dated addresses are in the Office Network Addresses section at
1 December 1955, State Gazette No. 71 dated 4 Other Corporate Data Chapter of this Annual Report.
September 1956, State Gazette Supplement
No. 729/1956. Head Office Address
Graha CIMB Niaga
Change of Name Jl. Jend Sudirman Kav. 58, Jakarta 12190, Indonesia
On 26 September 1955, the Company was established Tel: +62 21 250 5252, 250 5353
under the name of PT Bank Niaga, and upon Fax: +62 21 250 5205
becoming a Public Company by adjusting to Law
No. 40 Year 2007 on Company Law, therefore became Website
PT Bank Niaga Tbk. In 2008, the name changed into www.cimbniaga.co.id
PT Bank CIMB Niaga Tbk.
Contact Address
Merger History Corporate Secretary:
In 1973 Bank Niaga merged with PT Bank Agung, corporate.secretary@cimbniaga.co.id
and in 1978 with PT Bank Tabungan Bandung, and Corporate Investor Relations:
in 1983 with PT Bank Amerta, and in 2008 with investor.relations@cimbniaga.co.id
PT Bank Lippo Tbk.
Contact Center:
Ownership Tel : 14041 atau +62 21 2997 8888 (from overseas)
• CIMB Group Sdn Bhd 91.48% E-mail : 14041@cimbniaga.co.id
• PT Commerce Kapital 1.02% Business Banking Contact Center:
• Public Shareholders (<5%) 7.50% Tel : 14042 atau +62 21 8065 5111 (from overseas)
Social Media:
Authorized Capital Facebook : CIMB Niaga
Rp2,900,000,000,000 or 50,886,460,336 shares, consisting Twitter : @CIMBNiaga
of Class A shares at Rp359,269,680,000 of 71,853,936 Instagram : cimb_niaga
shares at a nominal value of Rp5,000 per share; and YouTube : CIMB Niaga
Class B shares at Rp2,540,730,320,000 or 50,814,606,400 LinkedIn : CIMB Niaga
shares at a nominal value of Rp50 per share.
Subsidiaries
Issued and Fully Paid-Up Capital PT CIMB Niaga Auto Finance (99.93%)
Rp1,612,257,325,350 or 25,131,606,843 shares, Line of Business: Consumer Financing
consisting of Class A at Rp359,269,680,000 or 71,853,936 Jl. Bintaro Utama 9 Blok B9/I No. 15, Bintaro Jaya Sektor IX
shares at a nominal value of Rp5,000 per share, and Kel. Pondok Pucung, Kec. Pondok Aren,
Class B at Rp1,252,987,645,350 or 25,059,752,907 shares South Tangerang 15229
at a nominal of Rp50 per share. Tel : +62 21 2788 1800
Fax : +62 21 2788 1900
Public Listing Call Center : 0804 1 090909
29 November 1989 E-mail : info@cnaf.co.id
Website : www.cnaf.co.id
Stock Exchange
Indonesia Stock Exchange PT CIMB Niaga Sekuritas (94.78%)
Line of Business: Securities Company
Share and Bond Code Graha CIMB Niaga 28th Floor
BNGA Jl. Jend. Sudirman Kav. 58, Jakarta 12190
Tel : +62 21 5084 7847
Fax : +62 21 5084 7849
E-mail : corsec@cimbniaga-ibk.co.id

CIMB NIAGA
AT A GLANCE
BRIEF HISTORY As the controlling shareholder of the Bank (through CIMB
PT Bank CIMB Niaga Tbk, hereinafter referred to as “CIMB Group) and Lippobank since 2007, Khazanah effected a
Niaga” or “Bank” was established on 26 September 1955 merger as a measure to comply with the Single Presence
based on Deed of Establishment No. 90 made before Raden Policy (SPP) stipulated by Bank Indonesia. This was the first
Meester Soewandi, Notary in Jakarta on 26 September 1955 merger in Indonesia related to the SPP policy. In 2008 before
with the name PT Bank Niaga, and amended with deed made the merger, PT Bank Niaga Tbk changed its name to PT Bank
before the same Notary, Deed No. 9 on 4 November 1955. CIMB Niaga Tbk (rebranding) based on Deed No. 38 dated
This Deed of Establishment was approved by the Ministry 28 May 2008, made before Dr. Amrul Partomuan Pohan,
of Justice of the Republic of Indonesia (now the Ministry of S.H., LLM, Notary in Jakarta and approved by the Ministry of
Law and Human Rights) through Decision No. J.A.5/110/15 Law and Human Rights of the Republic of Indonesia through
dated 1 December 1955 and announced in the State Gazette letter No. AHU-32968.AH.01.02.Year 2008 dated 13 June
of the Republic of Indonesia No. 71 dated 4 September 1956, 2008 and the Governor of Bank Indonesia Decree No. 10/56/
Official Gazette No. 729/1956. KEP.GBI/2008 dated 22 July 2008.
On 11 November 1955, based on the Ministry of Finance Through the Governor of Bank Indonesia Decree No. 10/66/
of the Republic of Indonesia Decree No. 249544/U.M.II, the KEP.GBI/2008 dated 15 October 2008 regarding “Granting
Bank obtained a business license as a commercial bank that Permit for Business Merger of PT Bank Lippo Tbk to
was then followed by a license as a foreign exchange bank PT Bank CIMB Niaga Tbk”, and the Minister of Law and Human
based on Bank Indonesia’s Board of Directors Decree No. Rights Republic of Indonesia Letter No. AHU-AH.01.10-22669
7/116/Kep/Dir/UD on 22 November 1974. The Bank became dated 22 October 2008, the merger became effective on 1
widely known as a trusted provider of quality products and November 2008, with the Bank merging Bank Lippo into
services. In the course of its business, the Bank recorded a CIMB Niaga. This merger received an effective notification
number of achievements and helped determine the direction from Bapepam-LK through letter No. S-4217/BL/2008 dated
of the banking industry development in the country. 30 June 2008. The effective date of the business merger with
Bank Lippo took place on 1 November 2008 based on Deed
In 1987, CIMB Niaga became the first local bank to launch No. 9 dated 16 October 2008, made before Notary Dr. Amrul
banking services through Automatic Teller machine (ATM) Partomuan Pohan, S.H., LLM, Notary in Jakarta.
in Indonesia. This achievement is widely regarded as
Indonesia’s entry point into the modern banking world. This merger is a monumental step in the Southeast Asian
On 29 November 1989, the Bank became a publicly listed banking sector, and provided CIMB Niaga the advantage
company by listing the Bank’s registered shares, on the of connectivity to the ASEAN regional network through the
Indonesia Stock Exchange (formerly PT Jakarta Stock CIMB Group. CIMB Niaga was successfully recorded in the
Exchange and PT Surabaya Stock Exchange). CIMB Niaga’s category of Commercial Bank Business Activity (BUKU) 4
leadership and innovation in applying the latest technology bank with a minimum core capital of Rp30 trillion.
became increasingly well known in 1991 by became the first
bank to provide online banking services. CIMB Niaga now provides its customers a comprehensive
range of banking products and services in Indonesia ranging
With a long-term vision, on 16 September 2004 the Bank from consumer banking, Small and Medium Enterprises
began to conduct banking business activities based on (SME) banking, commercial banking, and corporate banking,
sharia principles after obtaining a business license through supported by treasury and transaction banking capabilities
Governor of Bank Indonesia Decree No. 6/71/KEP.GBI.2004 and branchless banking networks. CIMB Niaga also offers
by established Sharia Business Units. commercial and sharia products and services through
the CIMB Niaga Sharia Business Unit. One of CIMB Niaga’s
Due to the Asian financial crisis, the majority shares advantages is its Transaction Banking capability, which
ownership of the Bank was transferred to the Government offers a variety of products and services and comprehensive
of the Republic of Indonesia through the Indonesian Bank solutions for companies to manage their domestic and cross
Restructuring Agency (IBRA). Then in 2002, CIMB Group border financial operations transactions. These solutions
Holdings Berhad (CIMB Group) formerly Commerce Asset include cash management, remittance, trade finance
Holding Berhad, acquired a majority shares in the Bank and value chain. With internet banking features such as
from IBRA. In a separate transaction, Khazanah, the majority BizChannel@CIMB’s for the corporate segment, corporate
shareholder of CIMB Group, acquired a majority ownership customers are given the convenience of being able to
of Lippobank on 30 September 2005. conduct a wide variety of payment transactions and also
buying and selling foreign currencies online, without having
In 2007, the total shares ownership was transferred to CIMB to go to the CIMB Niaga branch office. These capabilities have
Group as part of an internal reorganization to consolidate earned CIMB Niaga several prestigious awards in the field of
the activities of all CIMB Group subsidiaries with a universal transaction and FX banking, as the Best Cash Management
banking platform. The majority of the Bank’s shares, 92.5%, Bank, Best Trade Finance Bank and The Leading FX Provider
is owned directly and indirectly by CIMB Group Sdn. Bhd., in Indonesia.
which is the fifth largest universal banking group, among
others in ASEAN with extensive regional networks in
Indonesia, Malaysia, Thailand, Singapore, Cambodia, Brunei
Darussalam, Vietnam, Myanmar, Laos and Philippines.

As of December 31, 2020, CIMB Niaga was supported by 451 branch offices, 4,316 ATM units, 133 Cash Deposit Machines (CDM)
and 801 Cash Recycle Machines (CRM) units, as well as 12,064 employees spread across Indonesia. By committing to integrity,
perseverance to place top priority on customers and the spirit to continue to excel, CIMB Niaga will continue to utilize all its
resources to create synergy between business units and the CIMB Group. These are the core values of CIMB Niaga and are
obligations that must be fulfilled for a very promising future. The Bank believes it can continue to grow to be the leader and
best in providing banking services to the community.
NAME CHANGES
INFORMATION
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, Notaris in Jakarta
Effective Date of Change 13 June 2008
Ratification of Name Change Ministry of Law and Human Rights of the Republic of Indonesia Letter No. AHU-32968.
AH.01.02 dated 13 June 2008
Business Permit Approval following Name Change Governor of Bank Indonesia Decree No. 10/56/KEP.GBI/2008 dated 22 July 2008
Reason of Change Adjustment to the name of the Majority Shareholder
MEMBERSHIP IN
ASSOCIATIONS
Associations Name Membership Status
National Bank Association (PERBANAS) Active
Indonesian Payment System Association (ASPI) Regular/Active
Indonesian Banking Dispute Resolution Alternative Agency (LAPSPI) Active
Indonesian Listed Companies Association (AEI) Active
Indonesia's Sustainable Finance Initiative Active
Indonesian Corporate Secretary Association (ICSA) Compliance, Corporate Affairs &
Legal Director as Member
Communication Forum of Banking Compliance Directors (FKDKP) Compliance, Corporate Affairs &
Legal Director the Chairwoman
ACI Financial Market Association (ACI FMA) Indonesia Active
Indonesia Foreign Exchange Market Committee (I-FEMC) Active

MILESTONES
1955 1973-1983 1987

Established under the name Merged with: The first bank to launch
of PT Bank Niaga • Bank Agung in 1973 an ATM
• Bank Tabungan Bandung in 1978
• Bank Amerta in 1983
Launched mmQ Home

Financing – Sharia Home
Financing with floating rate
2015
2016 2014 2013

• Implemented “Core banking System” using one Launched the first online TD opening in • Launched Digital Lounge
platform (1P”) scheme Indonesia through CIMB Clicks • Launched Rekening Ponsel
• Launched Visa Credit Card Pay Wave Card and • Launched Poin Xtra
sticker (contactless) • Launched Net banking - online account opening
2017 2018 2019

• Bank status raised to BUKU 4 Bank by OJK, the • Became the first Public Company in • Launched the Self Service Banking Enging with
highest classification for banks Indonesia to conduct shareholders new features, namely card replacement and fast
• Established 2nd call center in Yogyakarta electronic voting (e-voting) at data updating in just 5 minutes
• Launched Indie Account saving product the General Meeting of the • Digital Lounge at Home Kemang
• Launched BizChannel@CIMB for Business Shareholders. • Added features of Go Mobile with eWallet Top Up,
• Launched New Go Mobile services • Added Go mobile Features with QR QR Code, withdraw and deposit without a card,
& Online Deposit Account Opening and enhanced the Go Mobile appearance and
• Launched Precious Card credit card user experience
• Launched Debit Contactless • Added CIMB Clicks feature with opening of mutual
• Digital Lounge@Campus funds and retail bond purchases
• Launched of the Waqf QR

CIMB Group
Initial Public Offering (IPO) Took over
50.99
on the Surabaya Stock
Exchange
%
1989
1991 2002 2005

The first bank to provide CIMB Group took over 50.99% Rights Issue Rp1.3 trillion
Online Banking Service shares of PT Bank Niaga Tbk from
IBRA
2004 2008
• Changed name of PT Bank CIMB
Launched Sharia Bank Niaga Tbk
• Effective merger between CIMB
Niaga & Lippobank
2012 2010 2009

• Launched new mobile banking platform - Go Launched BizChannel and • Became the 5th largest bank in Indonesia
Mobile CIMB Clicks internet banking • Distributed Rp305 billion final dividends, or
• Launched Phone banking service 14041 and platforms Rp12.75 per share
Preferred Phone banking 1 500 800 with various • Completed the integration of systems and
exclusive features operations after merger
2020
• Launched Virtual Card Number (VCN) and BizChannel@CIMB Mobile for
corporate customers
• Opening of Digital Lounges in 6 new locations
• The Go Mobile app transformation into OCTO Mobile with full features
like the Super App
• Launched OCTO Clicks, enhancement of CIMB Niaga internet banking
utilizing the latest advanced features

CORPORATE VISION, MISSION,

CULTURE AND CORE VALUES
MISSION
To provide universal banking services
in Indonesia as a high-performing,
institutionalized and integrated
company located in ASEAN and key
markets beyond, and to champion the
acceleration of ASEAN integration and
VISION
the region’s links to the rest of
the world.
To be the leading
ASEAN company
VISION AND MISSION REVIEW

In 2020, CIMB Niaga conducted a suitability study and review of the Corporate Vision and Mission based on the
Bank’s current condition and the business challenges it will face in the future. The review was conducted by
management through the Bank’s Senior Leaders meeting and attended by the Bank’s Board of Directors on
3 October 2020. Hence, it can be concluded that the Corporate Vision and Mission remain relevant and intact.

Supporting Business Corporate Governance Corporate Social Others Corporate Consolidated
CORPORATE CULTURE CORE VALUES
3 Critical C Customer Obsessed

We are here for our customers, to ensure
they’re happy and satisfied.
Behaviors
H High Performance
We always strive to go above and beyond
in everything we do.
Go the extra-mile to
delight customers
I Integrity
We’re always honest, responsible and accountable in
everything we do. Be vigilant, be alert, be thorough.
D
Respect each other, engage
openly and work together Diversity and Inclusion
We believe everyone has something to contribute,
regardless of race, gender or opinions.
A
Recognize each other’s efforts
and always back each other up
Agility
We must respond quickly to change and
be problem solvers.
83 CIMB NIAGA ANNUAL REPORT 2020 84 CIMB NIAGA ANNUAL REPORT 2020
Performance Management Company Management Discussion Risk Supporting Business Corporate Governance Corporate Social Others Corporate Consolidated
Highlights Reports Profile and Analysis Management Review Report Responsibility Data Financial Report
ORGANIZATION GENERAL MEETING OF

SHAREHOLDERS (GMS) INTEGRATED GOVERNANCE
STRUCTURE COMMITTEE
NOMINATION &
REMUNERATION COMMITTEE
SHARIA SUPERVISORY PRESIDENT DIRECTOR BOARD OF
BOARD TIGOR M. SIAHAAN COMMISSIONERS
RISK OVERSIGHT
COMMITTEE
AUDIT COMMITTEE
OPERATIONS & COMPLIANCE,

CONSUMER BANKING BUSINESS BANKING TREASURY & CAPITAL SHARIA BANKING RISK MANAGEMENT INFORMATION CORPORATE
DIRECTOR DIRECTOR MARKET DIRECTOR DIRECTOR DIRECTOR TECHNOLOGY DIRECTOR AFFAIRS & LEGAL DIRECTOR
LANI DARMAWAN VACANT JOHN SIMON PANDJI P. DJAJANEGARA VERA HANDAJANI TJIOE MEI TJUEN FRANSISKA OEI
CHIEF OF CORPORATE
HEAD OF COMMERCIAL HEAD OF SMALL, & CHIEF SPECIAL ASSET CHIEF HUMAN
BANKING & FINANCIAL
BANKING MEDIUM ENTERPRISE OFFICER RESOURCES OFFICER
INSTITUTION WIDODO SURYADI TONY TARDJO MEGAWATI SUTANTO JONI RAINI
RUSLY JOHANNES
HEAD OF WHOLESALE
HEAD OF SHARIA HEAD OF LOAN HEAD OF GOVERNMENT
HEAD OF RETAIL HEAD OF CORPORATE HEAD OF TRADING & HEAD OF OPERATIONAL BANKING OPERATIONS HEAD OF HR BUSINESS
BUSINESS BANKING WORKOUT (CORPORATE RELATION & STAFF
PRODUCT & SEGMENT BANKING I STRUCTURING RISK MANAGEMENT & SHARED SERVICES PARTNER
BANKING) KHUSUS CEO
NOVIADY WAHYUDI MIRANTY SUPARDI FERDINAND R. W. ELISA RATNAWARDANI* JULIUS WIANTARA, THJIOE CENTER PRIBADI WIJAYANTI
SUHERMAN ONIHANA RUDY HUTAGALUNG
JOSEPHINE MERCY ARI P.
HEAD OF LOAN
HEAD OF SALES & HEAD OF CORPORATE
HEAD OF DISTRIBUTION HEAD OF SHARIA HEAD OF RISK ANALYTICS WORKOUT HEAD OF CONSUMER HEAD OF LEGAL/ HEAD OF LEARNING &
DISTRIBUTION BANKING II
HERNAMAN TANDIANTO CONSUMER & INFRASTRUCTURE (COMBA & MSME) BANKING OPERATIONS GENERAL COUNSEL DEVELOPMENT
ROBBY MONDONG RIBOET BUDIONO BUNG ALDILLA YULIUS SETIAWAN LENA ALBERT SUHANDINATA SURYA KIRANA SULISTYO NORA JOICE KIMBAL
HEAD OF STRUCTURED HEAD OF OIT RISK

HEAD OF NON BRANCH ACQUISITION, HEAD OF SHARIA HEAD OF NON-RETAIL HEAD OF FORECLOSED
CONTROL UNIT & HEAD OF COMPLIANCE HEAD OF HR SHARED
HEAD OF SALES PRODUCT, CREDAM, AND CREDIT POLICY AND ASSET & BUSINESS
CHANNEL SYNDICATION FINANCE STRATEGIC RISK MANAGEMENT SERVICES
LUKITO ADISUBRATA & BUSINESS DEV. SJARIF GUNAWAN BUSINESS ANALYTICS ASSURANCE TESTING PLANNING
ANALYTICS LISTON SIAHAAN ILVIA ARITONANG
CHIALMI D. ROSALIM HOTAMAWATY WAHDINIE MUSMAR PASKALINA SINGARA
TAJINDRA PAL SINGH
HEAD OF DIGITAL HEAD OF CORPORATE HEAD OF MONEY HEAD OF HEAD OF RETAIL CREDIT HEAD OF INFORMATION HEAD OF ANTI MONEY HEAD OF HR RISK
BANKING, BRANCHLESS BANKING OFFICE MARKET & FUNDING RISK CONTROL UNIT RISK MANAGEMENT TECHNOLOGY LAUNDERING CONTROL UNIT
& PARTNERSHIP RESTI PRAMESTUTI R. AULIA MOCHTAR (SHARIA BANKING) KOEI HWEI LIEN YENNY SISWANTO ENTIN ROSINI NUGROHO ADHI WIBOWO
BAMBANG KARSONO ADI RAYMOND Y. DAS
HEAD OF MARKET RISK HEAD OF OIT OFFICE,

HEAD OF CONSUMER HEAD OF CORPORATE HEAD OF TREASURY RISK HEAD OF MANAGEMENT & MODEL COST MANAGEMENT &
HEAD OF CORPORATE HEAD OF OD, TALENT &
CREDIT UNDERWRITING BUSINESS CREDIT ANALYTICS & RCU ADVISORY & LEGAL VALIDATION ANALYTICS
SECRETARY EMPLOYEE RELATIONS
DJOJO BOENTORO JEFFREY BOB KARMAN DANIEL E. HUTAPEA SYAMSUL AIDI B. DIVA MAHDI MAGDALENA
FRANSISKA OEI* SOLIHIN HAKIEKIE
HEAD OF CONSUMER HEAD OF GOOD

HEAD OF FINANCIAL HEAD OF SHARIA CORPORATE HEAD OF TALENT
COLLECTION & INSTITUTION CHIEF ECONOMIST HEAD OF ALM RISK HEAD OF IT SECURITY
RECOVERY ADRIAN PANGGABEAN STRATEGY SANDI MARUTO JEFFRY KUSNADI GOVERNANCE & ACQUISITION
BANYON ANANTOSENO
LINDA MARSHELIA ULIL AMRI SUSTAINABILITY AFFIANTI SUWITA
LINA
HEAD OF MARKETING, HEAD OF TREASURY HEAD OF WHOLESALE HEAD OF PERFORMANCE,

BRAND, & CUSTOMER HEAD OF JAPAN DESK HEAD OF LEGAL HR STRATEGY, &
ISLAMIC BANKING CREDIT BUSINESS ADVISORY
EXPERIENCE HASBULLAH M. ALI
AGUS SETIONO TJAHJADI YAPETER ANALYTICS
TONI DARUSMAN KHUSNUDHON ERIC G. KOSASIH
HEAD OF HEAD OF
HEAD OF PRIVATE HEAD OF COMMERCIAL &
RISK CONTROL UNIT RISK CONTROL UNIT
BANKING SME BANKING CREDIT HEAD OF REWARDS
(CONSUMER BANKING) (BUSINESS BANKING)
JULIANA HENRY SAWALI LIVIA SUTANTO
AURELIA MULYONO RATRI SETYORINI
HEAD OF BUSINESS HEAD OF NON RETAIL

PERFORMANCE CREDIT ADMINISTRATION
MANAGEMENT I GUSTI NGURAH DWI S.
ARIS SUSANTA
HEAD OF CREDIT
RELATED RCU
HADI SOEDARSO
85 CIMB NIAGA ANNUAL REPORT 2020 86 CIMB NIAGA ANNUAL REPORT 2020
STRATEGY, FINANCE &
SPAPM DIRECTOR
LEE KAI KWONG
CHIEF OF TRANSACTION CHIEF AUDIT EXECUTIVE

BANKING ANTONIUS GUNADI
RUSLY JOHANNES
HEAD OF AUDIT –
HEAD OF DIGITAL HEAD OF TB CORP & FI HEAD OF ANTI FRAUD
HEAD OF FINANCE BUSINESS BANKING &
BUSINESS DEVELOPMENT SALES & CASH PRODUCT MANAGEMENT
HELEN MARIS CONSUMER BANKING
ANTON HERMAWAN AMIR MIRZA ANTONIUS SUKRISWANTO
BANAR GRATIANUS
HEAD OF
HEAD OF OPERATIONAL TRANSFORMATION HEAD TB COMMERCIAL HEAD OF AUDIT -
ACCOUNTING CONSUMER & SME SALES & TRADE PRODUCT ENABLER
RIA YOHANITA BANKING JONI HERMANTO ELISA GUNAWAN
ERIC AUGIE SAPUTRA
HEAD OF STRATEGIC HEAD OF

PROCUREMENT & TRANSFORMATION HEAD OF VALUE CHAIN HEAD OF AUDIT - IT
ADMIN PROPERTY BUSINESS BANKING JONI HERMANTO* HARTONO AGUS
MANAGEMENT FAISAL A. TAMBAYONG
WASKIN
HEAD OF STRATEGY, HEAD OF AUDIT –

HEAD OF DATA HEAD OF SECURITIES
INVESTOR RELATION & OPERATION, SHARIA,
MANAGEMENT SERVICES
PARTNERSHIP & S&D
SANTORI MALINTON FURIYANTO
SAUT P SARAGIH LYDIYA WIDJAJA
HEAD OF DECISION HEAD OF AUDIT

MANAGEMENT & HEAD OF SERVICE & – PROFESSIONAL
ADVANCE ANALYTICS DELIVERY PRACTICES
VACANT I WAYAN WINARSA SUDONO SALIM
HEAD OF AUDIT – TB,

HEAD OF ASSET LIABILITY HEAD OF TB RISK RISK MANAGEMENT,
MANAGEMENT CONTROL UNIT TREASURY & PRODUCT
ROY BAHREN RATRI SETYORINI* ALBERT AGUSTIUS
HEAD OF TAX HEAD OF BUSINESS

MANAGEMENT STRATEGY & SUPPORT
IWAN PUJIHARTO PATRICIA HENDRAWIRAWAN
HEAD OF
SF & SPAPM RCU
NICKO VIRANICKO
Keterangan:
Directorate
Chief
Sub Directorate
* Interim

CORPORATE
IDENTITY (LOGO)
Logomark Logotype
LOGO
Spot Colour: 4-Colour Process (CMYK):

Pantone® 202C C 0% M 100% Y 85% K 60%
Pantone 485C
®
C 0% M 100% Y 100% K 0%
Greyscale:
Black 100%
Black 50%
The oﬃcial logo of CIMB Niaga consists of 2 (two) main elements, namely the logo mark and the logotype, where both
elements show an integral logo that cannot be separated. The CIMB Niaga logo is specifically designed to capture the
Company’s identity and values.
Separately these two elements have the following meanings:
• Logomark
Logo symbol is an arrow motive formed with square graphics. This symbol illustrates the value and spirit of the
company to always think and step forward.
• Logotype
Serves to strengthen logomark as a descriptive word. All logotypes have the initials ‘CIMB’ and the suffix ‘Niaga’.
To ensure quality and consistency, the official CIMB logo cannot be changed or modified.

BUSINESS
ACTIVITIES
BUSINESS ACTIVITIES PURSUANT TO ARTICLES 11. Perform factoring activities, credit card businesses,
OF ASSOCIATION and trusteeship activities;
Based on the latest CIMB Niaga Articles of Association, as 12. Perform activities in foreign exchange in compliance
set forth in Deed No. 20 dated 9 April 2020, made before with the requirements stipulated by Bank Indonesia;
Ashoya Ratam, S.H., M.Kn., Notary at Administrative City 13. Perform sharia-compliant banking activities;
of South Jakarta, in accordance with Article 3 paragraph 14. Perform marketing agency activities for nonbanking
3.2, CIMB Niaga was established with the intention products such as insurance, mutual funds,
and purpose to carry out business activities in field of government bonds, or others pursuant to regulations.
Commercial Banks. In order to achieve these aims and
objectives, the Bank may carry out the scope of the main SUPPLEMENTARY BUSINESS ACTIVITIES
and supporting business activities, as follows: 1. Purchase from auction or others, collateral either
wholly or partially should a debtor default on an
MAIN BUSINESS ACTIVITIES obligation to the Bank, under the condition that the
1. Funding from the public in the form of deposits, purchased collateral is required to be immediately
including demand deposits, terms deposits, disbursed;
certificates of deposit, savings and/or their 2. Perform capital investment in a bank or other financial
equivalents; institution, such as leasing, joint venture, consumer
2. Lending; financing, securities, or insurance companies, or in a
3. Issuing debt instruments; clearing house and underwriting, and settlement and
4. Purchase, sell, or collateralize at its own risk or for the depository agency accordance with Bank Indonesia
benefit the request of its customers: regulations;
a. Promissory notes including those accepted by 3. Perform temporary capital investments to manage the
banks with validity period no longer than the consequences of default, or sharia-based financing
default, under the condition that the investment shall
customary commercial instruments;
be withdrawn in compliance with Bank Indonesia
b. Debenture notes and other commercial paper
regulations;
with validity periods no longer than the customary
4. Act as pension fund founder and pension fund
commercial instruments; manager pursuant to pension fund rules and
c. State treasury notes and government guarantee regulations;
instruments; 5. Perform other supporting activities to sustain the
d. Bank Indonesia Certificates (SBI); Bank’s primary business activities as commonly
e. Bonds; performed by a bank as long as they are not against
f. Commercial paper valid up to 1 (one) year the laws and regulations.
pursuant to prevailing laws and regulations;
g. Other commercial instruments valid up to 1 (one) BUSINESS ACTIVITIES CONDUCTED IN 2020
As of 31 December 2019, CIMB Niaga conducted all of the
year, pursuant to prevailing laws and regulations.
business activities set forth in the most recent Articles of
5. Transfer money for its own interest or for the interest
Association.
of the Bank’s customers;
6. Place funds in, borrow from, or lend to other banks
using notes, telecommunication means, sight drafts,
CIMB NIAGA PRODUCTS AND SERVICES
checks, or any other means;
7. Accept payment from commercial paper and perform
SAVINGS PRODUCTS
• CIMB Junior
calculation with or among third parties;
• Indie Account
8. Provide storage for the safekeeping of goods and
• ON Account
commercial paper;
• Tabungan Xtra
9. Perform depository activities for the interest of other
• Tabungan Xtra Manfaat
parties or on the basis of contract;
• Tabungan Usaha
10. Place funds from a customer to another in the form
• CIMB Preferred Account
of commercial paper not listed on stock exchanges;
• CIMB Private Banking Account

• Investor Account • Buy Games Vouchers

• TabunganKu • Checks and Points Xtra Transactions (Loyalty Points)
• Simpanan Pelajar • Cash Plus facility via OCTO Mobile/Clicks
• Xtra Pandai • Installment facility via OCTO Mobile/Clicks
• Tabungan Mapan • Contactless Credit Card
• Deposito Berjangka • Waqf
• Giro Usaha
• Giro (Individual/Corporate) INDIVIDUAL LOANS
• Mortgages
ELECTRONIC ACCESS FACILITIES • Auto Loans
• Debit Card • Xtra Dana (Personal Loan)
• ATM • Partnership Vehicle Ownership Financing (Joint
• Contact Center CIMB Niaga : 14041/+6221-29978888 Financing)
(from overseas) • Credit Card
• Business Banking Contact Center: 14042 or • Corporate Credit Card
+62 21 8065 5111 (from overseas)
• Contact Center Preferred : 1500800 BUSINESS, TREASURY, AND CORPORATE BANKING
• Email : 14041@cimbniaga.co.id • Working Capital Loan
• Preferred Assistant • Investment Loan
• Cash Deposit Machine (CDM) • Syndicated Loan
• Multi-Function Device (MFD) • Partnership (Linkage Program)
• Electronic Data Capture (EDC) • Trustee & Agency Services
• OCTO Clicks • Custodian Services
• OCTO Mobile • Payment Bank
• BizChannel@CIMB • RDN Bank
• BizChannel@CIMB Mobile • Intraday
• Account Balance Consolidation • Bank Guarantee
• e-MFTS (Electronic Mass Fund Transfer System) • Value Chain - Distributor/Dealer/Agent Financing
• e-Chain • Supplier Financing
• e-Factoring • Trade Financing
• e-Notification • Factoring
• e-Statement & e-Combine Statement • Tender or Bid Bond
• e-Tax Payment • Performance Bond
• Fax Statement • Retention Bond
• Cash & Cheque Pick–up • Payment Bond
• Virtual Account • Maintenance Bond
• Rekening Ponsel • Custom Bond
• Video Banking • Advance Payment Bond
• Digital Lounge • Counter Guarantee
• Domestic and International Transfers • Shipping Guarantee
• Cardless Cash Withdrawals and Deposits • Standby LC
• Bills Payment & Top Up (Phone Credit, Internet/Data, • Issuance of LC - Sight and Usance
PLN and e-Wallet) • Issuance of Domestic Letters of Credit (SKBDN)
• Virtual Card Number (VCN) • Inward Documentary Collection - D/P and D/A
• Account Opening (Rupiah and foreign exchange), • Usance Payable At Sight/Usance (UPAS/UPAU)
Credit Cards, Mutual Funds, Bonds, Insurance and • Post Import Financing/Trust receipt
Time Deposits Online • Import Tax - PIB/PIBT
• Bulk Transactions & Scheduled Transactions • Continuation of Export LC
• Pay with OCTO Mobile by scanning QR and Scan • Transfer LC
QRIS • SKBDN Negotiation/Discount with Facilities
• Quick Access to Accounts and Transactions without • SKBDN Negotiation/Discount without Facilities
Login • Negotiation/Discount on Export LC with Facility
• Foreign Exchange Transactions to Own Accounts at • Negotiation/Discount on Export LC without Facility
Competitive Rates • Outward Documentary Collection - D/P and D/A
• Travel Concierge: Buy Airline Tickets Through the • Pre-Shipment Financing
Mobile Banking Application • Trade Loan Account Receivable

• Trade Loan Account Payable • FX Today/Tom/Spot

• LC Confirmation • Sharia Hedging
• Avalisasion • Bank Notes
• Forfaiting • Buying and Selling Sukuk
• Risk Participation • Issuance of Sukuk Mudharabah
• Bank Notes • iB Maintenance Bond
• FX Today/Tom/Spot • iB Tender or Bid Bond
• FX Forward • iB Performance Bond
• FX Swap • iB Retention Bond
• Par Forward • iB Payment Bond
• DNDF/Domestic Non Delivery • iB Advance Payment Bond
• Forward • iB Custom Bond
• ACCD/Appointed Cross Currency Dealer • iB Counter Guarantee
• FX Option • iB Shipping Guarantee
• Call Spread Option • iB Standby LC
• Interest Rate Swap • iB Issuance of LC - Sight and Usance
• Cross Currency Swap • iB Issuance of SKBDN (Domestic LC)
• Interest Rate Option • iB Post Import Financing/TR
• Bond Trading • iB Continuation/Transfer of Export LC
• Repo/Reverse Repo • iB Export LC Financing or iB SKBDN with Facilities
• Bond Forward Casa • iB Export LC Financing or iB SKBDN without Facility
• BLI/Bond Link Investment • Outward/Inward Documentary Collections - D/P and
• Market Linked Deposit D/A
• SWAP Depo • IB Account Receivable Financing
• Strike Currency • iB Account Payable Financing
• Bond Issuance
• SBI/Bank Indonesia Certificates OTHER SERVICES
• Call Money • Foreign Currency Remittances
• Negotiable Certificate of Deposit • Bank Draft
• Special Funds Transfer
CIMB NIAGA SYARIAH • Safe Deposit Box
• iB CIMB Junior • Mass Fund Transfer Systems (MFTS)
• iB Indie Account • Preferred Collection Services
• iB ON Account • Tax Payment
• iB Tabungan Xtra • Routine Bills Payment
• iB Tabungan Usaha • CIMB Niaga Mobile Cash
• iB CIMB Preferred Account • Cash & Cheque Pick Up
• iB CIMB Private Banking • BizCard
• iB Investor Account • Cash Sweeping
• iB TabunganKu • Virtual Account
• iB Simpanan Pelajar
• iB Xtra Pandai
• Tabungan iB Pahala
• iB Tabungan Mapan
• iB Deposito
• iB Giro (Individual/Corporate)
• Mudharabah Muqayyadah
• iB Mortgage
• iB Indirect Auto Financing
• Xtra Dana iB (Personal Financing iB)
• Sharia Credit Card
• Sharia Corporate Credit Card
• iB Working Capital Financing & iB USD Working
Capital
• iB Investment Financing & iB USD Investment
• iB Overdraft Facility

BUSINESS NETWORK AND OPERATING AREAS
SUMATERA KALIMANTAN BALI
NAGGROE ACEH DARUSSALAM 2 WEST KALIMANTAN 4 BALI 12

NORTH SUMATERA 26 EAST KALIMANTAN 8
WEST SUMATERA 5 CENTRAL KALIMANTAN 1 WEST NUSA TENGGARA
KEP. RIAU 11 SOUTH KALIMANTAN 4
WEST NUSA TENGGARA 3
JAMBI 3 NORTH KALIMANTAN 1
SOUTH SUMATERA 6
KEP. BANGKA BELITUNG 1 JAVA EAST NUSA TENGGARA
LAMPUNG 4
RIAU 8 BANTEN 23 EAST NUSA TENGGARA 1
WEST JAVA 68
MALUKU DKI JAKARTA 125 SULAWESI
CENTRAL JAVA 45
MALUKU 1 DI YOGYAKARTA 15 NORTH SULAWESI 3
EAST JAVA 57 SOUTH SULAWESI 7
PAPUA SOUTH-EAST SULAWESI 1
PAPUA 6

451
TOTAL
*
Office Network
ATM CRM CDM

4,316 801 133
BRANCH PAYMENT MOBILE

POINT & CASH
374 DIGITAL
LOUNGE 33
44
*) Includes Digital Lounge, Payment Point, Cash Mobile and Sharia Branch

BOARD OF COMMISSIONERS’
PROFILES

Age/Gender 53/Male
Nationality Indonesian
Domicile Malaysia
Education
Master of Arts in Economics from University of Cambridge, United Kingdom
Work Experiences
• Managing Director, Head of Investment Banking at JP Morgan Malaysia (2005-2016)
• Vice President, Investment Banking at JP Morgan Indonesia (formerly Jardine Fleming)
(1993-2005)
• Manager at Morgan, Grenfell & Co., London, UK and Jakarta, Indonesia (1992-1993)
• Senior Auditor at Arthur Andersen & Co., London, UK (1989-1992)
Concurrent Positions
• Independent Director at CIMB Group Holdings Berhad (2017-present)
• Independent Non-Executive Director at CIMB Investment Bank Berhad (2019-present)
Legal Basis of Appointment

Appointed for the first time as Commissioner of CIMB Niaga based on the AGM Resolution
on 15 April 2019 and effective on 20 November 2019. Then, he was appointed as President
Commissioner of CIMB Niaga at the AGM on 9 April 2020 and effective 7 July 2020.
Affiliated Relationship
Has no affiliation with fellow members of the Board of Commissioners and members of the
Board of Directors, but he is affiliated with the Ultimate and Controlling Shareholders.
Education and Training in 2020

Education and training in 2020 is presented separately in the Education and/or Training of
the Board of Commissioners section of this Annual Report.
Certifications
Level 1 Risk Management, issued by the Professional Banking Certification Institute (LSPP)
and valid until 11 May 2023
Term of Office 2019 - 2023

Age/Gender 65/Male
Domicile Jakarta
Education
• Postgraduate in Business Management from the Asian Institute of Management, Makati,
Philippines (1981)
• Bachelor of Arts in Economics from University of the Philippines, Manila, Philippines (1979)
Work Experiences
• Independent Non-Executive Director at CIMB Group Holdings Berhad (2010-2019)
• President Director at PT Pabrik Kertas Basuki Rachmat (2010-2011)
• Commissioner at PT Surya Citra Media Tbk (2004-2012)
• President Commissioner at PT Polyprima Karyareksa (2004-2010)
• President Director/CEO at PT London Sumatra Indonesia Tbk (2003-2007)
• Chairman of the Assistance Team for the Minister of Finance for Financial Sector Restructuring at
the Ministry of Finance of the Republic of Indonesia (2001-2004)
• President Director at PT (Persero) Danareksa (1995-2001)
• Chairman of the Indonesian Bank Restructuring Agency (IBRA) (1998-2000)
• Director General of Financial Institutions, Ministry of Finance of the Republic of Indonesia (1998)
• Director at PT Bahana Indonesia Business Development (1994-1995)
• Director of Finance at PT Bank Niaga Tbk (1991-1994)
• Investment Banking Group Head at PT Bank Niaga (1989-1991)
• GM of Los Angeles Agency at PT Bank Niaga (1985-1989)
• Manager of Capital Markets Group at Citibank, NA (1981-1985)
Independent Commissioner at PT Surya Citra Media Tbk (2012-present)
GLENN M. S. YUSUF
Vice President Commissioner Legal Basis of Appointment
Appointed as Vice President Commissioner (Independent) of CIMB Niaga based on the AGM
(Independent) resolution on 9 April 2020 and effective on 16 September 2020.
Has no affiliation with fellow members of the Board of Commissioners, members of the Board of
Directors, or the Ultimate and Controlling Shareholders.
Education and training in 2020 is presented separately in the Education and/or Training of the Board of Commissioners section of this Annual Report.
Certifications
• Level 2 Risk Management, issued by LSPP and valid until 10 July 2024.
Age/Gender 63/Male
Nationality Indonesia
Domicile Jakarta
Education
• MBA in Business and Public Management from George Washington University, Washington DC,
United States (2004)
• Bachelor of Economics in Development Studies from the University of Indonesia, Jakarta (1986)
Work Experiences
• Guest Lecturer of the Faculty of Economics at various universities in the country and abroad (1994-
2014)
• Expert Staff of the Board of Governors of Bank Indonesia (2014)
• Executive Director of the International Department - Bank Indonesia (2013-2014)
• Head Researcher at the Education Center for Central Banking Studies - Bank Indonesia (2012-2013)
• Head of Bank Indonesia Denpasar Office (2009-2012)
• Head of Bank Indonesia Manado Office (2006-2009)
• Head of Balance of Payments Bureau - Bank Indonesia (2005-2006)
• Economic Researcher in various fields such as Money Market Development, Macroeconomic
Studies, Economic Studies and International Institutions for Policy Analysis & Planning, and Staff of
the Governor of BI (1987-2005)
• Member of the Master Plan DKI Economic Development Team 1985-2005 at Hasfarm Dian
Konsultan (1985-1986)
Chairman of Yayasan Indonesian Rajani Imamat Foundation (2016-present)

He was appointed for the first time as Independent Commissioner of CIMB Niaga based on the
JEFFREY KAIRUPAN AGM Resolution on 15 April 2016 and effective on 14 September 2016. His last appointment as
Independent Commissioner of CIMB Niaga was based on the AGM Resolution on 9 April 2020.
Independent Commissioner*
Has no affiliation with fellow members of the Board of Commissioners, members of the Board of Directors, or the Ultimate and Controlling Shareholders.

Certifications
Level 2 Risk Management, isued by the Risk Management Certification Agency (“BSMR”) and valid until 11 June 2024.

*) Appointed as a Senior Independent Commissioner of the Bank through the Circular Resolution of the Board of Commissioners of CIMB Niaga No. 014/DEKOM/KP/VI/2019 as of 28 June 2019

Age/Gender 53/Female
Domicile Jakarta
Education
• Master of Science in Finance from the University of Denver Colorado, United States of America (1992)
• Bachelor, Faculty/Department of Business Management from Trisakti University (1990)
Work Experiences
• Managing Director at Facebook Indonesia (2016-2019)
• Vice President of Garnier South Asia at L’Oreal Asia Pacific Singapore (2011-2012)
• Head of Garnier International Marketing ASEAN at L’Oreal Asia Pacific Singapore (2011-2012)
• Regional Category Director at Unilever Asia Pacific Singapore (2008-2010)
• Regional Brand Director at Vaseline & Natural brands Asia, Unilever Asia Pacific Singapore (2005-2008)
Chief Growth and Digital Officer at PT Unilever Indonesia Tbk (2019-December 2020)

Appointed as Independent Commissioner of CIMB Niaga based on the AGM Resolution on 15 April
2019 and effective on 20 November 2019.
Has no affiliation with fellow members of the Board of Commissioners, members of the Board of
Directors, or the Ultimate and Controlling Shareholders.

Education and training in 2020 is presented separately in the Education and/or Training of the Board
of Commissioners section of this Annual Report.
SRI WIDOWATI Certifications Level 2 Risk Management, issued by LSPP and valid until 10 August 2023.
Independent Commissioner
Age/Gender 51/Male
Nationality Malaysia
Domicile Malaysia
Education Master of Arts in Economics from Cambridge University, United Kingdom
Work Experiences
• Non-Executive Non-Independent Chairman at Sime Darby Berhad (2019-2020)
• President & Chief Executive Officer at Permodalan Nasional Berhad (2016-2019)
• Chief Executive Officer at Ekuiti Nasional Berhad (Equinas) (2009-2016)
• Group Managing Director/Chief Executive Officer at Media Prima Berhad (2003-2009)
• Chief Executive Officer at Malaysian Resources Corporation Berhad (2001-2003)
• Executive Director at Malaysia Berhad Television System (2001-2003)
• Executive Director at SSR Associates Sdn Bhd (2000-2001)
• Head Unit at the Management of Danaharta Nasional Berhad (1999-2000)
• Special Assistant to the Executive Chairman at Trenergy (M) Berhad/Turnaround Managers Inc Sdn
Bhd (1996-1999)
• Member of the Institute of Chartered Accountants England and Wales (ICAEW) (1996)
• Assistant Manager at Arthur Andersen, London (1992-1996)
• Group Chief Executive Officer at CIMB Group Holdings Berhad (2020-present)
• Chief Executive Officer at CIMB Bank Berhad (2020-present)
• Executive Director at CIMB Group Holdings (2020-present)
DATO’ ABDUL RAHMAN AHMAD** • Executive Director at CIMB Bank Berhad (2020-present)
Commissioner • Director at CIMB Thai (2020-present)

Appointed as Commissioner of CIMB Niaga based on the EGM Resolution on 25 September 2020 and effective upon obtaining approval from the OJK.
Has no affiliation with fellow members of the Board of Commissioners and members of the Board of Directors, but he is affiliated with the Ultimate and
Controlling Shareholders.

Certifications Level 1 Risk Management, issued by LSPP and valid until 28 December 2024.

**)
Effective upon obtaining OJK approval and/or fulfilled the requirements as determined in the OJK approval

Age/Gender 61/Male
Nationality United States of America
Domicile Malaysia
Education
Bachelor of Art from Whitman College, Washington State, United States (1982)
Work Experiences
• Chief Risk Officer in Asia Pacific at Royal Bank of Scotland (2007-2012)
• Chief Credit Officer in Asia Pacific at Bank of America (2001-2007)
• Served various senior level positions in Singapore, Hong Kong, Thailand and Taiwan (1993-2007)
Group Chief Risk Officer at CIMB Group Holdings Berhad (2012- present)

He was first appointed as Commissioner of CIMB Niaga based on the AGM Resolution on 27 March
2014 and effective on 15 September 2014. His last appointment as Commissioner of CIMB Niaga was
based on the AGM Resolution on 24 April 2018.
Has no affiliation with fellow members of the Board of Commissioners and members of the Board of
Directors, but he is affiliated with the Ultimate and Controlling Shareholders.
DAVID RICHARD THOMAS Education and Training in 2020

Commissioner
of Commissioners section of this Annual Report.
Certifications
Level 1 Risk Management, issued by LSPP and valid until 17 May 2022.
Term of Office 2018 – 2022

BOARD OF DIRECTORS’
PROFILES
TIGOR M. SIAHAAN
President Director
Age/Gender 49/Male
Domicile Jakarta
Education
Bachelor of Finance and Accounting (double major) from University of Virginia,
Charlottesville, USA (1995)
Work Experiences
• Chief Country Officer at Citi Indonesia (2011-2015)
• Country Head-Institutional Clients Group at Citi Indonesia (2008-2011)
• Head of Corporate and Investment Banking at Citi Indonesia (2004-2008)
• Country Risk Manager at Citi Indonesia (2003-2004)
• Vice President-Institutional Remedial Management Group at Citi New York Headquarters
(2000-2003)
• Management Associate at Citi Indonesia (1995-2000)
Does not hold any concurrent position, either as a member of the Board of Commissioners,
a member of the Board of Directors, a committee member or other positions.

Appointed for the first time as President Director of CIMB Niaga based on the AGM
Resolution on 10 April 2015 and effective on 1 June 2015. His last appointment as President
Director of CIMB Niaga was based on the AGM Resolution on 15 April 2019.
Has no affiliation with fellow members of the Board of Directors, members of the Board of
Commissioners, or the Ultimate and Controlling Shareholders.

Education and training in 2020 is presented separately in the Education and/or Training of
the Board of Directors section of this Annual Report.
Certifications
Level 5 Risk Management issued by BSMR and valid until 15 September 2022..

Age/Gender 54/Male
Nationality Malaysia
Domicile Jakarta
Education
• Cambridge Summer School Program, Executive Education from Cambridge University (2018)
• Bachelor of Science in Finance from Indiana University of Pennsylvania, United States of America
(1990)
Work Experiences
• Head of Finance and Strategic Procurement and Admin Property Management (SPAPM) at CIMB
Niaga (2018- 2019)
• Senior Managing Director, Regional Head, Consumer Business Planning and Analysis at CIMB Bank
Malaysia (2012-2018)
• Senior Vice President-Head Consumer Product Management at RHB Bank, Malaysia (2010-2012)
• Senior Vice President-Head of Finance and Planning at OCBC Bank, Malaysia (2007-2010)
• Citibank Berhad Malaysia with the last position as Vice President-Head of Business Planning &
Analytics (1991-2007)
Does not hold any concurrent position, either as a member of the Board of Commissioners, a
member of the Board of Directors, a committee member or other positions.

Appointed as Director of CIMB Niaga based on the EGM Resolution on 19 December 2018 and
effective on 24 April 2019.
LEE KAI KWONG
Strategy, Finance & SPAPM Director Education and Training in 2020
of Directors section of this Annual Report.
Certifications
Level 5 Risk Management, issued by LSPP and valid until 19 January 2021.
Age/Gender 49/Male
Domicile Jakarta
Education
• Master of Business Administration from Cleveland State University, Ohio, United States (1996)
• Bachelor of Commerce from the University of Toronto, Canada (1995)
Work Experiences
• Head of Trading & Structuring at CIMB Niaga (2007-2014)
• Head of Treasury Department at RGM Group Indonesia (2005-2007)
• Interbank FX & Derivatives Trader at Citibank Indonesia (2003-2005)
• Commercial Banking Relationship Manager at Citibank Indonesia (2000 – 2003)
• Treasury Marketing Unit Officer at Citibank Indonesia (1998 – 2000)

He was appointed for the first time as Director of CIMB Niaga based on the AGM Resolution on 27
March 2014 and effective on 29 August 2014. His last appointment as Director of CIMB Niaga was

JOHN SIMON Education and training in 2020 is presented separately in the Education and/or Training of the Board
Treasury & Capital Market Director of Directors section of this Annual Report.
Certifications
Level 5 Risk Management, issued by LSPP and valid until 3 May 2022.

Domicile Jakarta
Education
• Master of Business Administration from Kellogg-Hong Kong University Science and Technology,
Hong Kong/USA (2013)
• Bachelor of Economics in Management from Trisakti University, Jakarta (1994)
Work Experiences
• Head of Operational Risk for Greater China and Markets Asia Pacific at Royal Bank of Scotland,
Hong Kong (2012-2013)
• Head of Financial Institutions Credit & Trading Credit Risk Management, Greater China & South
Korea at Royal Bank of Scotland, Hong Kong (2010-2012)
• Head of Financial Institutions Credit South Asia at The Royal Bank of Scotland, Hong Kong (2007-
2010)
• Vice President, Regional Risk Asia at The Royal Bank of Scotland/ABN AMRO, Singapore & Hong
Kong (2003-2007)

She was first appointed as Director of CIMB Niaga based on the EGM Resolution on 26 July 2013 which
became effective on 26 November 2013, and was reappointed based on the AGM Resolution on 15
April 2016. Her last appointment as Director of CIMB Niaga was based on the AGM Resolution on 9 April
2020.
VERA HANDAJANI Has no affiliation with fellow members of the Board of Directors, members of the Board of
Risk Management Director Commissioners, or the Ultimate and Controlling Shareholders.

Certifications
Level 5 Risk Management, issued by LSPP and valid until 13 July 2021
Domicile Jakarta
Education
Bachelor of Dentistry from Trisakti University, Jakarta (1985)
Work Experiences
• Director of Retail Banking at PT Bank Maybank Indonesia (2012-2015)
• EVP Head of Network at PT Bank Permata Tbk (2010-2012)
• Consumer Banking Country Head at Standard Chartered Indonesia (2007-2010)
• Consumer Banking Country Head Standard Chartered Bank Indonesia (2004-2007)
• Consumer Banking Group Head at LippoBank (2000-2004)
• Vice President at Citibank Indonesia (2000)
• Deputy General Manager at PT Bank Central Asia Tbk (1990-1999)
President Commissioner at PT CIMB Niaga Auto Finance (subsidiary) (2019-present)

She was first appointed as Director of CIMB Niaga based on the AGM Resolution on 15 April 15and
effective on 3 May 2016. Her last appointment as Director of CIMB Niaga was based on the AGM
Resolution on 9 April 9 2020.

LANI DARMAWAN of Directors section of this Annual Report.
Consumer Banking Director
Certifications
Level 5 Risk Management, issued by BSMR and valid until 3 December 2022

Age/Gender 56/Male
Domicile Jakarta
Education
• Master of Business Administration from Erasmus Universiteit, Rotterdam, Netherlands (1991)
• Bachelor of Economics, Trisakti University (1989)
Work Experiences
• Chief of Sharia Banking at CIMB Niaga (2015-2016)
• Chief of Commercial Banking at CIMB Niaga (2014-2015)
• Chief of Corporate Banking at CIMB Niaga (2011-2014)
• Head of Credit Restructuring & Settlement at CIMB Niaga (2009-2010)
• Joined Bank Niaga in 1992 and started his career through the Executive Education Program

He was appointed for the first time as Director of CIMB Niaga based on the AGM Resolution on 15
April 2016 and effective on 28 September 2016. His last appointment as Director of CIMB Niaga was

PANDJI P. DJAJANEGARA of Directors section of this Annual Report.
Sharia Banking Director
Certifications
Level 5 Risk Management, issued by LSPP and valid until 7 June 2022.
Domicile Jakarta
Education
• Business Law Course from Warnborough College, Oxford, England (1982)
• Bachelor degree in Law from Trisakti University, Jakarta (1981)
Work Experiences
• Director of Legal, Compliance and Corporate Secretary at PT Bank Danamon Indonesia Tbk (2009-
2016)
• Director of Legal, Compliance and Corporate Secretary at PT Bank Internasional Indonesia Tbk (2005-
2009)
• Senior Advisor for Legal & Compliance at PT Bank International Indonesia Tbk (2004-2005)
• Member of the Board of Commissioners at PT Bank Mandiri Tbk (2004-2005)
• Founder & Senior Partner at LBAF Law Firm (2002-2004)
• Director of Legal, Compliance and others at PT Bank International Indonesia Tbk (2000-2001)
• Chief of Staff, Legal & Compliance Director at Citibank NA (1998-2000)

She was first appointed as Director of CIMB Niaga based on the AGM Resolution on15 April 2016 and
effective on 27 July 2016. Her last appointment as Director of CIMB Niaga was based on the AGM
Resolution on 9 April 2020.
FRANSISKA OEI Commissioners, or the Ultimate and Controlling Shareholders.
Compliance, Corporate Affairs
& Legal Director Education and Training in 2020
Certifications
Level 5 Risk Management, issued by BSMR and valid until 15 April 2022.

Domicile Jakarta
Education
Bachelor of Science in Computer Science & Statistics from University of London, United Kingdom
Work Experiences
• Director for Technology & Operations at Commonwealth Bank, Indonesia (2016-2020)
• Director for Technology & Operations at Bank Permata (2013-2016)
• Chief Operation Officer/Director for Ops & Technology at Bank Ekonomi Raharja, member of the
HSBC Group (2010-2013)
• Chief Operations Officer/Director for Ops & Technology at PT Barclays Bank Indonesia (2008-2010)
• Operations & Technology Head (Senior Country Operations Officer) -Global Consumer Banking at
Citibank N.A. Indonesia (1998-2008)
• Operations & Technology Director at Bank Putra Surya Perkasa (1994-1998)
• General Manager for Information Technology at Dharmala Bank (1989-1994)
• Manager for Technology System & Application Development at PT Mainsis Dharmatama Canggih
(Dharmala Group) (1985-1989)
• System Analyst for Technology Application Development at PT Great River Garment Industries
(GRGI) (1983-1985)

Appointed as Director of CIMB Niaga based on the AGM Resolution on 9 April 2020 and effective on 3
November 2020.
TJIOE MEI TJUEN Affiliated Relationship
Operations & Has no affiliation with fellow members of the Board of Directors, members of the Board of
Information Technology Director Commissioners, or the Ultimate and Controlling Shareholders.

Education and training in 2020 is presented separately in the Education and/or Training section of the
Board of Directors in this Annual Report.
Certifications
Level 5 Risk Management, issued by BSMR and valid until 23 July 2021.

SHARIA SUPERVISORY
BOARD’S PROFILES
PROF. DR. M. QURAISH SHIHAB, MA

Chairman
Age/Gender 76/Male
Domicile Jakarta
Education
• Doctor of Qur’an Interpretation from Al-Azhar University-Cairo, Egypt (1982)
• Master of Tafseer and Hadith from Al-Azhar University-Cairo, Egypt (1969)
• Bachelor from Al-Azhar University-Cairo, Egypt (1967)
Work Experiences
• Director of the Center for Al-Quran Studies, Jakarta (2003-2018)
• Postgraduate Professor at Universitas Islam Negeri (UIN) Syarif Hidayatullah (1992-2013)
• Ambassador of the Republic of Indonesia to the Arab Republic of Egypt, Djibouti &
Somalia (1999-2002)
• Members of the MPR-RI (1982-2002)
• Minister of Religion of the Republic of Indonesia (1998 -1999)
• Member of the Sharia Board of Bank Muamalat Indonesia (1992-1999)
• Rector of UIN Syarif Hidayatullah (1992-1998)
• Chairman of the Indonesian Ulema Council (Central) (1985-1998)
• Chairman of the Sharia Supervisory Board of BTN Syariah (2019-Present)
• Member of Pentashih Al-Qur’an, Ministry of Religion of the Republic of Indonesia
(1989-Present)

Appointed for the first time as Chairman of the Sharia Supervisory Board of CIMB Niaga
based on the AGM Resolution on 23 April 2008, which became effective on 11 February
2009 and was reappointed with the same position based on the AGM Resolution on 15 April
2016. Last appointment as Chairman of the Bank’s Sharia Supervisory Board was based on
the AGM Resolution dated 15 April 2019.
Has no affiliation with fellow members of the Sharia Supervisory Board, members of
the Board of Directors, members of the Board of Commissioners, or the Ultimate and

Education and training in 2020, is presented separately in the Education and/or Training of
the Sharia Supervisory Board section of this Annual Report.
Certifications -

Age/Gender 60/Male
Domicile South Tangerang
Education
• Doctorate in Islamic Legal Theory from UIN Syarif Hidayatullah (1994)
• Master in Sharia from UIN Syarif Hidayatullah (1987)
• Bachelor degree in Sharia from UIN Syarif Hidayatullah (1982)
• Undergraduate in Sharia from UIN Syarif Hidayatullah (1981)
Work Experiences
• Member of the Sharia Supervisory Board at LB Salam (2007-2012)
• Dean of the Faculty of Islamic Studies atUniversitas Muhammadiyah Jakarta (2000-2004)
• Lecturer in Philosophy of Islamic Law at the Faculty of Law, Universitas Muhammadiyah
Jakarta (1985-2000)
• Deputy Rector for Academic Affairs at IAIN Syarif Hidayatullah Jakarta (1997-2000)
• Lecturer in Islamic Administrative Law at the Faculty of Islamic Religion, Universitas
Muhammadiyah, Jakarta (1990-1995)
• Deputy Dean for Student Affairs at the Sharia Faculty, IAIN Syarif Hidayatullah Jakarta
(1994-1996)
• Head of the Muamalat Study Program at the Sharia Faculty, IAIN Syarif Hidayatullah
Jakarta (1987-1989)
• Secretary of the Religious Courts Study Program at the Sharia Faculty, IAIN Syarif
Hidayatullah Jakarta (1982-1987)
• Lecturer in Religious Courts in Indonesia at the Sharia Faculty, IAIN Syarif Hidayatullah
Jakarta (1982-1987)
• Chairman of the Sharia Supervisory Board of Adira Finance Syariah (2011-present)
• Chairman of the Sharia Supervisory Board of Bank BCA Syariah & Member of the Sharia
PROF. DR. FATHURRAHMAN DJAMIL, MA Supervisory Board of CIMB Niaga Auto Finance (2010-present)
Member • Chairman of the Sharia Supervisory Board of AIA Sharia Branch (2009-present)
• Professor of Postgraduate Program at the University of Indonesia (2006-present)
• Deputy Chairman of the National Sharia Council (DSN-MUI) and Deputy Chairman of the
Fatwa Commission of the Indonesian Cleric Council (MUI) (2005-present)
• Lecturer in Law and Finance in Islam at the Postgraduate Program, University of
Muhammadiyah Jakarta (2000-present)
• Professor at UIN Syarif Hidayatullah (2000-present)
• Lecturer in the History of Islamic Law in the Postgraduate Program, UIN Syarif
Hidayatullah Jakarta (1996-present)

Appointed for the first time as a member of the Sharia Supervisory Board of CIMB Niaga
based on the at EGM Resolution on 19 December 2008, which became effective on 11
February 2009 and was reappointed with the same position based on the AGM Resolution
on 15 April 2016. Last appointment as member of the Bank’s Sharia Supervisory Board was
based on the AGM Resolution 15 April 2019.

Certifications
Capital Market Sharia Expert, who was appointed based on OJK Board of Commissioners
Decree No. 12/D.04/ASPM-P/2016 dated 19 May 2016 and valid for 5 (five) years until 19
May 2021
Term of Office 2019 – 2023

Age/Gender 47/Male
Domicile Bogor
Education
• Doctorate in Islamic Economic at Universitas Islam Negeri (UIN) Syarif Hidayatullah
(2010)
• Master in Islamic Economics and Finance at International Islamic University Malaysia
(2005)
• Bachelor of Islamic Economics (Muamalah) at Universitas Djuanda Ciawi (1999)
Work Experiences
• Member of the Sharia Supervisory Board at Panin Asset Management (2011-2016)
• Advisor/Researcher on Islamic Economics and Finance at Saudi Arabian Monetary
Authority-SAMA, Kingdom of Saudi Arabia (2017-2019)
• Moderator in Finance Accreditation Agency (FAA) - Bank Negara Malaysia (BNM) -
Moderation Committee for the Discipline of Sharia Principle & Practices for Islamic
Bankers (2013)
• Team Leader - “A Study on the Development of Islamic Microfinance: Regulation and
Supervision Model”. In collaboration with the Department of Non-Banking Financial
Institutions (IKNB) - OJK, Republic of Indonesia (2013)
• Vice Chairman, Academic & Student Affairs - Tazkia Islamic Business School, Bogor -
Indonesia (2006-2008)
• Invited Researcher (Fellow Researcher) at Center for Central Banking Education and
Studies, Central Bank of INDONESIA (PPSK-BI) (2006-2008)
• Head of the Department of Islamic Economics - Tazkia Islamic Business School, Bogor -
Indonesia (2005-2007)
• Member of the Sharia Supervisory Board at PBMT Ventura (2019-present)
DR. YULIZAR DJAMALUDDIN SANREGO, M.EC. • Member of the Sharia Supervisory Board at Bank BTB (2016-present)
Member • Member of the Sharia Supervisory Board at LPEI Exim (2012 - present)
• Member of the DSN MUI in the Capital Market Sector (2010-present)

Appointed for the first time as a member Sharia Supervisory Board of CIMB Niaga based on
the AGM Resolution on 28 March 2013, which became effective on 10 June 2013 and was
reappointed with the same position based on the AGM Resolution on 15 April 2016. Last
appointment as member of the Bank’s Sharia Supervisory Board was based on the AGM
Resolution on 15 April 2019.

Certifications
• Capital Market Sharia Expert, who was appointed based on the Decree of the OJK Board
of Commissioners No. 09/D.04/ASPM-P/2016 dated 19 May 2016 and valid for 5 (five)
years until 19 May 2021.
• Level 1 Risk Management, issued by LSPP and valid until 27 June 2023.
INFORMATION ON CHANGES OF MANAGEMENT

MEMBERS AFTER THE FISCAL YEAR 2020
There were no changes to the members of the Board of Commissioners, Board of Directors and the Sharia Supervisory
Board of the Bank after the 2020 financial year ended until the publication date of this Annual Report.

SENIOR EXECUTIVES
PROFILES
RUSLY JOHANNES ANTONIUS PRAMANA GUNADI
CHIEF OF CORPORATE BANKING & FINANCIAL INSTITUTION, CHIEF AUDIT EXECUTIVE
AND CHIEF OF TRANSACTION BANKING
Indonesian citizen, 50 years old. Indonesian citizen, 46 years old.
Joined CIMB Niaga since February 2014 as Chief of Corporate Banking and Joined CIMB Niaga in December 2016 and has been serving as Chief Audit
is currently serving as Chief of Corporate Banking & Financial Institution Executive since January 3, 2017. He started his career as an Auditor at
and Chief of Transaction Banking since January 2019. Previously he held a public accounting firm Coopers & Lybrand, KPMG and Ernst & Young,
various positions at ABN AMRO Bank Indonesia, Deutsche Securities Inc. then he entered the banking industry and served as Head of Internal
New York, Rabobank Indonesia and Citibank Indonesia. Audit at ABN Amro Bank Indonesia, Barclays Indonesia, and Bank
International Indonesia as well as the Audit Director at Citibank being
He completed the Master of Business Administration in Strategy and responsible for audit activities in Indonesia and a number of countries in
Finance from The UCLA Anderson School of Management, and the Asia and EMEA.
Bachelor of Business Administration in Finance from The University of
Texas Austin. He earned his bachelor’s degree of Accounting from Tarumanagara
University and several international certifications such as Certified
Internal Auditor (CIA) and Certified Anti Money Laundering Specialist
(CAMS). Currently he also actively plays a role in advancing the internal
auditor profession in banking industry in Indonesia by serving as the
General Chair of Bank Internal Auditor Association (IAIB) for the period of
2020-2023.
JONI RAINI MEGAWATI SUTANTO

CHIEF HUMAN RESOURCES OFFICER CHIEF SPECIAL ASSET OFFICER
Has been serving as Chief Human Resources Officer since April 2020 Joined CIMB Niaga in April 2010 and is currently serving as Chief Special
after previously serving as Head of HR Business Partner, Talent Asset Officer. In prior, she served as Credit Director CIMB Niaga from
Acquisition, Rewards & Performance in January-April 2020. During his March 2011 to April 2020. Prior to joining CIMB Niaga she served as
9-year career at CIMB Niaga, he has held several strategic positions in Head of Corporate Banking at Bank Danamon from 2007-2010, Deputy
Human Resources in HR Business Partner, Talent Acquisition, Rewards, President Director of Bank DBS Indonesia from 2003-2006, Head of
Performance Management, HR Services, and Talent & Leadership Wholesale Credit Banking at Standard Chartered Bank from 2000-2003,
Development functions. Prior to joining CIMB Niaga in 2011, he served General Manager of Corporate Banking Credit & Marketing at PT Bank
as Head of Human Resources and Head of HR Management & Service at Dagang Nasional Indonesia 1997 - 1998 and Deputy Head Domestic
Bank Barclays Indonesia from 2009 to 2011. He also had a career with Corporate at Hong Kong Bank 1995-1997.
Bank UOB in 2003-2009 with the last position as Head of Learning &
Development. She completed her Postgraduate education in Business Administration
from Pepperdine University, United States (1988) and Bachelor of Finance
He earned his bachelor’s degree of Economics from Tarumanagara from University of Southern California, United States (1985).
University and Master’s degree from Pelita Harapan University, Jakarta
and an Executive MBA from Peking University, China.

ADRIAN PANGGABEAN ANTONIUS SUKRISWANTO WIDODO SURYADI

CHIEF ECONOMIST HEAD OF ANTI FRAUD HEAD OF COMMERCIAL BANKING
MANAGEMENT
Indonesian citizen, 54 years old. Indonesian citizen, 58 years old. Indonesian citizen, 47 years old.
Has been serving as Chief Economist in CIMB Has been serving as Head of Anti Fraud Has been serving as Head of Commercial
Niaga since October 2016. He started his career Management at CIMB Niaga since 2011. His Banking in CIMB Niaga since September 2019
as a Lecturer at the Faculty of Economics and experience includes operational, audit and after previously serving as SEVP/Deputy Head
has been a visiting professor in the subject of operational risk management and previously of Micro Small Medium Enterprises. He joined
State Finance at KIMEP (Kazakhstan), and Policy from 2008 to 2011 he held the position of Head CIMB Niaga in September 2015 as SEVP/
Advisor at UNDP (Indonesia). He also served of Operational Risk Management at OCBC NISP, Head of Corporate Banking II. Previously, he
as an economic advisor for the Southeast Barclays Indonesia, and Bank Ekonomi Rahardja served as EVP/Head of Wholesale Banking at
Asia region in Nomura (Singapore), Asian (HSBC Group). Commonwealth Bank (2011-2015) and various
Development Bank (Philippines), and economic senior positions at DBS, Rabobank, Citibank,
advisor at the Prime Minister’s office of Brunei He earned his bachelor’s degree of Political and Arthur Andersen.
Darussalam. Adrian has also been CEO of Science in International Relations from Gadjah
several investment manager companies. Mada University Yogyakarta, INSEAD Senior He earned his MBA from Bandung Institute of
Leadership Program Singapore - France, as Technology in 2009 and a Bachelor of Business
He earned his bachelor’s degree of Economics well as various trainings related to banking and Administration from the University of Wisconsin
from the University of Indonesia and master’s management. at Madison, USA, in 1996.
degree in Social Science and Doctor of
Philosophy (PhD) from the University of
Birmingham, UK.
MIRANTY SUPARDI RIBOET BUDIONO RESTI PRAMESTUTI RACHMAT

HEAD OF CORPORATE BANKING HEAD OF CORPORATE BANKING HEAD OF CORPORATE
BANKING OFFICE
Joined CIMB Niaga in August 2014 and is Joined CIMB Niaga in April 2016 as Head of She has been serving as Head of Corporate
currently serving as Head of Corporate Banking Corporate Banking - SOE, Infrastructure & Banking Office since January 2018. Previously
overseeing Large and Middle Corporates and Energy. Previously, he worked at Standard she served as Structured Finance, Mergers and
Multinational business. Chartered Bank as Director of Corporate Acquisitions Head from 2011 to 2017, Corporate
& Institutional Client, GE Capital SE Asia in Banking Division/Group Head until 2010, Special
She started her career at Deloitte and Ernst Singapore and Branch Manager at Clipan Asset Management Division Head until 2004.
& Young in the US office. She also worked at Finance Indonesia. She started her career at CIMB Niaga (formerly
Citibank New York and Hong Kong with last Bank Niaga) in 1996 as Merchant Banking
position as Senior Vice President for Corporate He earned his bachelor’s degree of Accounting Officer. Prior to that, she worked at Indover
and Investment Banking at Citibank Indonesia. from Brawijaya University. Bank, Amsterdam for 3 years.
She earned her bachelor’s degree of Business She earned her Postgraduate degree from
Administration from the University of Wisconsin Faculty of Economics, Erasmus University of
Madison, USA and Master of Business Rotterdam.
Administration from Cornell University, USA.
JEFFREY BOB KARMAN LINDA MARSHELIA RATRI SETYORINI

HEAD OF CORPORATE BUSINESS HEAD OF FINANCIAL INSTITUTION HEAD OF RISK CONTROL UNIT -
CREDIT BUSINESS BANKING
He has been working at CIMB Niaga since Has been serving as Head of Financial Has been serving as Head of Risk Control Unit
October 2013. He previously worked for 27 Institution to oversee Banks and Non-Bank since November 2018, after previously serving
years in various companies in financial sector Financial Institutions since October 2018. as Head of Risk Control Unit. She started her
and held key positions in Standard Chartered career at Citibank in September 2001 and her
Bank, ABN AMRO Bank N.V., Sucorinvest Gani, Previously, she served at Citibank, Standard last position prior to joining Bank CIMB Niaga
Bank OCBC Indonesia and Bank OCBC NISP. Chartered Bank and MUFG Bank Jakarta with was Head of Middle Office and Support at
last position as Head of Financial Institution and Bank UOB Indonesia. Her working experience
He earned his Bachelor of Science in Business Multi National Corporate. includes working at Standard Chartered
Administration - Finance from the University Bank Japan and also serving as guest auditor
of San Francisco and Master of Management - She earned her Bachelor of Business in various overseas branches of Standard
International Management from Prasetya Mulya Administration from the Indonesian Institute of Chartered Bank such as Pakistan, Bangladesh,
Institute of Management. Business and Informatics (IBII). India and Malaysia. She has obtained more than
10 years experience in the area of Operational
Risk for both retail and non-retail banking.
She earned her master’s degree of E-Business

Management from the International University
of Japan (IUJ) and bachelor’s degree of Civil
Engineering from Bandung Institute of
Technology (ITB).

TONY TARDJO CHIALMI DIALDESTORO ROSALIM

HEAD OF SMALL MEDIUM HEAD OF STRUCTURED, ACQUISITION & SYNDICATED
ENTERPRISE FINANCE AND HEAD OF BUSINESS DEVELOPMENT
Has been serving as Head of Small Medium Joined CIMB Niaga in December 2017 and has been serving as
Enterprise since March 2020, previously serving Head of Structured, Acquisition & Syndicated Finance and as
as Head of Analytics & Customer Experience Head of Business Development since April 2018. He has also been
in 2019, Head of Sales & Distribution for Out serving as Commissioner at PT CIMB Niaga Sekuritas since August
Region in 2015 and Head of Consumer Lending 2020.
CIMB Niaga since January 2011. He served as
Retail Lending Head at Bank Permata from 2010 Started his banking career as a Management Associate at Citigroup
to 2011 and Consumer Lending Business Head, Indonesia in 1996. He has been having a career for more than 24
Barclays Bank from 2009 to 2010. years in the global corporate and investment banking sector in
Asia, United Kingdom, Europe and the Middle East.
He earned his Bachelor of Science in Electrical
Engineering from The Ohio State University, He earned his Master of Professional Accounting (with Honors)
Columbus, Ohio, United States, and attended from The University of Texas at Austin and a Bachelor of Science
the INSEAD Business School Executive Program in Accounting and Finance (with honor) from Oklahoma State
in 2012. University.
ENTIN ROSTINI LISTON SIAHAAN LINA

HEAD OF ANTI MONEY LAUNDERING HEAD OF COMPLIANCE HEAD OF GOOD CORPORATE
MANAGEMENT GOVERNANCE & SUSTAINABILITY
Has been serving as Head of Anti Money Serving as Head of Compliance Management at Joined CIMB Niaga in November 2017 and
Laundering (AML) since December 2016. Started CIMB Niaga since 2013. Previously, he served has been serving as Head of Good Corporate
her career and held various positions at Bank as Head of the Risk Management Group at Governance & Sustainability since September
Internasional Indonesia, Compliance Head of Bank Niaga and worked at the Indonesian Bank 2020. Previously, she worked at Bank QNB
Bank Chinatrust Indonesia and AML Head of Restructuring Agency and PT Pefindo (Credit Indonesia, Bank UOB Indonesia and Bank
Bank Danamon Indonesia. Rating Agency). Victoria International.
She earned her Bachelor of Economics majoring Liston Siahaan earned his bachelor’s degree of She earned her bachelor’s degree of Economics
in Accounting from Padjadjaran University Urban and Regional Planning from the Bandung from Tarumanegara University, Jakarta
Bandung and Master of Management from Institute of Technology in 1992 and master’s
Gajah Mada University, Yogyakarta. degree of Management from Prasetya Mulya
Business School, Jakarta in 1996.
RUDY HUTAGALUNG SURYA KIRANA SULISTIYO KHUSNUDHON

HEAD OF GOVERNMENT RELATIONS HEAD OF LEGAL/GENERAL COUNSEL HEAD OF LEGAL BUSINESS ADVISORY
& STAFF KHUSUS CEO
Has been serving as Head of Government Has been serving as Head of Legal at CIMB Has been serving as Head of Legal Business
Relations and CEO Special Staff since December Niaga since May 2016. He served in various Advisory since September 2020, after previously
1, 2016. Previously, he also served as Head of positions including General Legal Counsel for serving as Legal Group Head of Corporate
Government Relations since March 1, 2016. Bank Danamon Indonesia, and Legal Division Banking. He joined CIMB Niaga in September
He also served as Corporate Secretary of CIMB Head of UOB Indonesia. 2015 with previous experience as a Senior Legal
Niaga and concurrently as Head of Corporate Advisor at Standard Chartered Bank Indonesia,
Affairs & Legal CIMB Niaga since 1 October 2013 He earned his bachelor’s degree of Law from Corporate Banking Legal Head at PT Bank OCBC
and Head of Legal and Litigation CIMB Niaga Trisakti University and master’s degree of Law NISP and several other experiences at Citibank,
(2012). from the University of Indonesia. NA Jakarta, PT Bank OCBC Indonesia, PT Bank
Bali Tbk (now PT Bank Permata Tbk) and
He earned his PhD in Law (M&A) from American PT Permodalan Nasional Madani (Persero).
University, London, UK in 2009, Master of
Business Law from the University of Minnesota, He earned his bachelor’s degree of Law and
Law of School, USA in 1999 and a Bachelor of master’s degree of Business Law from Gajah
Law from Gadjah Mada University, Yogyakarta Mada University, Yogyakarta.
in 1990.

ARIS SUSANTA BANYON ANANTOSENO DJOJO BOENTORO

HEAD OF BUSINESS PERFORMANCE HEAD OF CONSUMER COLLECTION HEAD OF CONSUMER CREDIT
MANAGEMENT AND RECOVERY UNDERWRITING
Started his career at LippoBank as Assistant Has been serving as Head of Consumer Has been serving as Head of Consumer
Regional Business Head for Central Java in Collection and Recovery since September Credit Risk since September 2017. Previously
1995. Prior to his current position, he previously 2017. Previously he served as Group Head of he served as Head of Consumer Finance
served as Sales Performance Management Unsecured Collection CIMB Niaga, Executive of Maybank Indonesia (until August 2017),
Head at CIMB Niaga. Vice President of Card & Loan Processing, Fraud Member Relations Director of MasterCard
and Collection Bank Mega, Senior Vice President International Inc., Indonesia (until November
He earned his Bachelor of Computer Science Collection Micro Bank Danamon, Vice President 2010), Wealth Director of PT AXA Financial
from Duta Wacana Christian University, Collection HSBC and Citibank Assistant Vice Indonesia (until April 2008), Product Liabilities
Yogyakarta. President Credit Operations. & E-Channel Division Head of Bank BII (until
December 2005), Regional Office III Manager of
Bank Internasional Indonesia (BII) in Surabaya
(until March 2002) and several other positions in
BII from MDP Trainee (October 1989)
He earned his bachelor’s degree in of Civil

Engineering from Parahyangan University,
Bandung in 1989.
BAMBANG KARSONO ADI TONI DARUSMAN LUKITO ADISUBRATA

HEAD OF DIGITAL BANKING, HEAD OF MARKETING, BRAND & HEAD OF NON BRANCH CHANNEL
BRANCHLESS & PARTNERSHIP CUSTOMER EXPERIENCE
Has been serving as Head of Digital Banking, He has been holding various Brand & Marketing Prior to serving as Head of Non-Branch Channel
Branchless & Partnership CIMB Niaga since positions in multinational companies across CIMB Niaga, he held senior positions as Head
October 2015. He served as a specialist in industries in Indonesia, Malaysia and Hong of National Non-Branch Sales of Bank Permata,
credit card business and joined several banks Kong for more than 20 years. Prior to joining National Sales Group Head of LippoBank, and
such as LippoBank, Bank Bukopin and Visa CIMB Niaga, he served as Chief Marketing Branch Manager of Citibank N.A.
International. Previously he served as Head of Officer at Bank Danamon. His career started
Cards & Merchant Business at CIMB Niaga from at Sampoerna for 8 years, then Coca-Cola, He earned his Bachelor of Economics from
September 2012. Unilever, Heineken and Indosat prior to entering Tarumanagara University in 1997.
the banking industry sector.
He graduated from Faculty of Economics,
majoring in Marketing Management, Trisakti
University. He is the best graduate of Mechanical
Engineering from Andalas Padang University
and holds a master’s degree of Science (MSc)
with honors from the University of Liverpool UK.
NOVIADY WAHYUDI (DEDE) AURELIA MULYONO ROBBY MONDONG

HEAD OF RETAIL PRODUCT & HEAD OF RISK CONTROL UNIT - HEAD OF SALES & DISTRIBUTION
SEGMENT CONSUMER BANKING
He joined CIMB in 2011. Previously, he was a Has been serving as Head of Risk Control He started his career at LippoBank Los Angeles
senior partner in a consulting firm and started Unit of Bank CIMB Niaga since October 2019. and previously held several senior positions at
his career with Citibank. Previously, she held various positions at Bank Bank Permata, LippoBank, and Citibank N.A.
Permata in 2008 and her last position was the
He graduated from University of Indonesia, Director of Human Capital & Risk Management He earned his MBA from Woodbury University,
earned his MBA from the National University at PT Catur Sentosa Adiprana Tbk. Burbank, California, USA in 1993, and his BA
of Singapore and attended the Executive from National University, San Diego, California,
Leadership Program at INSEAD business school. She earned her Bachelor of Economics - USA in 1992.
Accounting from Parahyangan Catholic
He is responsible for all consumer products University.
(deposits, wealth, insurance, mortgage, indirect
auto, credit cards, and personal loans). In
addition, he is also in charge of preferred
banking service, workplace banking and
personalization.

PRIBADI WIJAYANTI NUGROHO ADHI WIBOWO ILVIA ARITONANG

KUSUMODEWI HEAD OF HR RISK CONTROL UNIT HEAD OF HR SHARED SERVICE
HEAD OF HR BUSINESS PARTNER
Joined CIMB Niaga in May 2014 as HRBP Head Joined CIMB Niaga in 2018, and previously Has been serving as Head of HR Shared Service
for Support Function (Enablers), TCM & Sharia worked at Citibank N.A. as AML - Global since April 2020. She joined CIMB Niaga in 2011
Banking. During his career in banking industry Investigator for Indonesia in 2015 - 2018. His and held several positions including Rewards
for more than 20 years, she has held several experience includes working in various banks Head, HR Services Head, Personnel Services
strategic Human Resources positions in HRBP, such as Bank Maybank Indonesia, Standard Head.
Recruitment, Employee Relations & Governance Chartered Bank, Bank Barclays Indonesia and
functions at Citibank, Bank Permata, Bank ABN AMRO Bank. She graduated from Academy of Analytical
Barclays, Bank Danamon, ABN AMRO and GE Chemistry in Bogor.
Money (financial institutions - non-bank). He graduated from Gajah Mada University,
Yogyakarta with a degree in Economics.
She earned her bachelor’s degree from
University of Indonesia.
NORA JOICE KIMBAL SOLIHIN HAKIEKIE ERIC GUNAWAN KOSASIH

HEAD OF LEARNING & HEAD OF ORGANIZATION DEVELOPMENT, HEAD OF PERFORMANCE, HR
DEVELOPMENT TALENT & EMPLOYEE RELATION STRATEGY & ANALYTICS
Joined CIMB Niaga in July 2014 as Customer Joined CIMB Niaga in December 2018, and Joined CIMB Niaga in September 2019 as
Experience Program & Improvement Head. is currently serving as Head of Organization Head of Learning & Development at Human
Prior to serving as Head of Learning and Development, Talent & Employee Relations. Resources Directorate. Prior to joining CIMB
Development in July 2020, she held several Prior to joining CIMB Niaga, he served as Head Niaga, he served at Lippo Group as Senior
positions at CIMB Niaga, including Learning of HR Center of Excellence at Commonwealth HR Officer, PT Bank Danamon Tbk as EVP
Intervention Head and CX Strategy and Bank in 2018, having previously worked at Talent, Learning and Rewards, PT Bank CIMB
Performance Head. Toyota Astra Financial Service since 2009 and Niaga Tbk as SVP & Head of Learning & Talent
SCTV since 2005. Development and PT Bank HSBC Indonesia as
She earned her bachelor’s degree from Udayana SVP Resource Planning, Policy, Analytics and
University, Bali. He graduated from PPM Management College Talent Management.
with a master’s degree of Management
and Parahyangan Catholic University with a He graduated from Petrochemical Engineering,
bachelor’s degree of Social and Political Science. University of Indonesia in 1995.
LIVIA SUTANTO AFFIANTI SUWITA JEFFRY KUSNADI

HEAD OF REWARDS HEAD OF TALENT ACQUISITION HEAD OF INFORMATION
TECHNOLOGY SECURITY
She has been serving as Head of Rewards since Prior to serving as Head of Talent Acquisition in Joined CIMB Niaga and has been leading
September 2020. Her previous experiences April 2020, she served as HR Business Partner Information Technology Security unit since
include Head of Compensation of PT SMART Head of CIMB Niaga 2018-2020 and previously July 2017 with previous experience as Senior
Tbk, Compensation and Benefit Head of CIMB at PT SMART Tbk as Lead HR Business Partner Manager in Risk and Control Solution at
Niaga, and Reward Information Services Operations, and at PT HM Sampoerna Tbk with PricewaterhouseCoopers. In addition, he
Consultant at Hay Group. last position as HR Business Partner Operations. previously served at Bank Bumi Arta as head of
IT division from 2007-2011.
She completed her education in Computer She earned her bachelor’s degree of Computer
Science and earned her bachelor’s degree from Science from Trisakti University Jakarta and He is a graduate of Bina Nusantara University,
Inti College. attended training in 2020, including Risk Jakarta and is a certified CISA (Certified
Management Certification Program & Digital- Information System Auditor), and ISO27001
Data-Design as Key Differentiator. Lead Auditor.

MAGDALENA ALBERT SUHANDINATA YENNY SISWANTO

HEAD OF OIT OFFICE, COST HEAD OF CONSUMER BANKING HEAD OF INFORMATION
MANAGEMENT, & ANALYTICS OPERATIONS TECHNOLOGY
Joined CIMB Niaga in July 2010 and has He is currently serving as Head of Consumer Prior to serving as Head of Information
been serving as Head of OIT Office, Cost Banking Operations. Previously he worked at Technology since 2016, she served as Head
Management & Analytics starting September Citibank for 6 years, Bank Barclays Indonesia of Technology Infrastructure at CIMB Niaga.
2020. Her previous career history includes Bank for 2 years, Commonwealth Bank for 2.5 years, Previously, she served as Head of Technology
International Indonesia, Citibank, and Allianz ICBC for 2.5 years, and Bank Ganesha as Infrastructure Management at PT Maybank
Life Indonesia. Director of IT and Operations for 1.5 years. Bank International Indonesia and Country
Technology Head at Citibank N.A.
She earned her Bachelor of Economics from He earned his Bachelor of Finance from
Parahyangan University, Bandung. California State Polytechnic University, Pomona She earned Bachelor of Business from Edith
and an MBA from Loyola Marymount University. Cowan University in 1995.
JOSEPHINE MERCY ARI PRIAMSARI TAJINDRA PAL SINGH

HEAD OF WHOLESALE BANKING HEAD OF OIT RISK CONTROL UNIT &
OPERATIONS & SHARED SERVICES CENTER STRATEGIC RISK ANALYTICS
She is currently serving as Head of Wholesale Joined CIMB Niaga and is currently serving as
Banking Operations & Shared Services Center. Head of OIT Risk Control Unit & Strategic Risk
She joined CIMB Niaga in September 2011. Analytics since September 2020. Previously, he
Previously, she served as Head of Central served as SVP Service Excellence at
Processing Center Head at Maybank Indonesia PT Aplikasi Anak Bangsa (Gojek), and had 15
- Bank Internasional Indonesia from 2005 to years experience at Citibank, with last position
2011 and served at Citibank NA and Citicorp as Credit Operations and Technology Director
Securities Indonesia (1997 - 2005). in 2019.
She earned her Bachelor of Economics from He earned a Bachelor of Science and Master of
Gajah Mada University, Yogyakarta. Science from Michigan State University.
HENRY SAWALI I GUSTI NGURAH DWI SAPTA WAHDINIE MUSMAR

HEAD OF COMMERCIAL BANKING HEAD OF NON RETAIL CREDIT HEAD OF NON - RETAIL CREDIT
& SME CREDIT ADMINISTRATION POLICY AND ASSURANCE TESTING
He joined CIMB Niaga in February 2017. He held Joined CIMB Niaga in October 2018 and She has been serving as Head of Non-Retail
several positions during his 28-year professional prior to serving as Head of Non Retail Credit Credit Policy and Assurance Testing and joined
experience in various banks such as Bank Administration of CIMB Niaga, he had 20 years CIMB Niaga since January 2016. Her career
LTCB Central Asia, Bank ANZ Indonesia, Bank of experience in the banking industry, starting has covered all business segments in banking,
Permata, Bank Danamon and most recently with serving as CRU Manager at Standard by holding various positions including Credit
Bank OCBC NISP as Head of Corporate Banking Chartered Bank (1998-2004) then serving Approver at Standard Chartered Bank and ABN
Credit. as Credit Control Unit Head at PT Bank DBS AMRO Bank.
Indonesia (2004 - 2007), Head of Credit Control
He earned his Bachelor of Science majoring in Unit at PT Bank Danamon Indonesia Tbk (2007 She earned a Bachelor of Economics
Finance from the California State University of - 2015) and Head of Credit Risk Control at majoring in Financial Management from
Fresno and Master of Business Administration Standard Chartered Bank. Padjajaran University, Bandung and an MBA
from the National University of San Diego. in International Trade from Texas A&M
He earned his Bachelor of Engineering from International University, USA.
Trisakti University, Jakarta.

TJAHJADI YAPETER JULIUS WIANTARA TJHIOE KOEI HWEI LIEN

HEAD OF WHOLESALE BANKING HEAD OF OPERATIONAL RISK HEAD OF RETAIL CREDIT RISK
CREDIT MANAGEMENT MANAGEMENT
Has been serving as Head of Wholesale Banking Has been serving CIMB Niaga since 2015 as Has been serving as Head of Retail Credit Risk
Credit CIMB Niaga since November 2012. Head of Operational Risk Management (ORM). Management at CIMB Niaga since May 2015.
Previously, he served at Bank BCA as Head of Previously he served at Citibank N.A. Indonesia She started his career at GE Finance Indonesia
Structured and Project Finance and at Bank as Head of ORM (2012 - 2014), Bank DBS prior to eventually exploring retail risk
HSBC as Head of Credit Approval Unit. Indonesia as Head of ORM (2007 - 2011) and management and holding the position as Credit
Head of Internal Audit (1999 - 2007) and in Policy & Risk Analytic Head at ABN AMRO/RBS,
He earned his Bachelor of Science from several banks as Head of Internal Audit. Standard Chartered Bank and Bank Danamon.
the Faculty of Industrial Engineering and
Management of Oklahoma State University, He earned his Bachelor of Economics in 1992 She earned her Bachelor of Economics from
United States. in Finance and Accounting from Macquarie Atma Jaya Yogyakarta University and Master of
University, New South Wales, Australia. Management from Prasetiya Mulya.
YULIUS SETIAWAN RAYMOND DAS BUNG ALDILLA

HEAD OF RISK ANALYTICS & HEAD OF RISK CONTROL UNIT - HEAD OF SHARIA CONSUMER
INFRASTRUCTURE SHARIA BANKING
Joined CIMB Niaga in March 2015 as Head Has been serving as Head of Risk Control Unit - Joined CIMB Niaga on 8 October 2018 and
of Risk Analytics & Infrastructure at Risk Banking starting September 2020. He has held has been serving as Head of Sharia Consumer
Management Directorate. Previously he held several positions at CIMB Niaga since joining in effective 1 August 2019. He is responsible
senior positions as Wholesale Credit Audit and August 2004, including Sharia Risk Control Unit for Consumer and reports to the Director of
Analytic at Bank Danamon (2006 - 2015) and Head, Treasury Office & Risk Analytics Head Banking.
BCA (1992 - 2006). (2010-2016), Asset & Liability Management
Head (2005-2010) and Market Risk Management He graduated from Gunadarma University with
He earned his MBA degree from PSBA - Manila Head (2005). Prior to CIMB Niaga, he worked at a bachelor’s degree of Computer Science.
in 1997 and bachelor’s degree from Bogor the Indonesian Banking Restructuring Agency
Agricultural Institute in 1992. as Treasury Risk Management Group Head
(1999-2004).
He graduated from Faculty of Economics,

University of Indonesia with a bachelor’s
degree of Economics. He attended Bank Staff
& Leadership School (SESPIPANK) -LPPI and
obtained a Level IV Certified Risk Management.
HOTAMAWATY AHMAD NASIHI ULIL AMRI PASKALINA PN SINGARA

HEAD OF SHARIA PRODUCT, BUSINESS HEAD OF SHARIA STRATEGY HEAD OF FORECLOSED ASSET &
PROCESS & BUSINESS ANALYTICS BUSINESS PLANNING
She has 23 years of experience in the banking Joined CIMB Niaga in 2004 and is currently Has been serving as Head of Foreclosed Asset
industry, the last 16 years of which include the serving as Head of Sharia Strategy. During his & Business Planning since June 2020, after
sharia banking sector. She started her career career at CIMB Niaga, he held several positions previously serving as Head of Credit Office &
with Management Trainee (1997) at Bank BNI including Strategy & Investor Relations Head Asset Disposal CIMB Niaga since July 2019. She
and worked as an Accounting Officer, prior to in 2018 and Corporate Planning Management joined CIMB Niaga in January 2012.
joining CIMB Niaga - Sharia Business Unit in April Head in 2014. He has also gained experience
2004. She has been serving as Head of Sharia in conducting mergers and acquisitions, as She earned her Bachelor of Industrial
Product, Business Process & Business Analytics well as leading projects at CIMB Niaga such as Engineering from National Development
since 2020 and has held various positions during Islamic Bond (SUKUK) Issuance, Syariah Aceh University and Master of Business
her career at CIMB Niaga, including as Branchless Branch Conversion and T18 Project. Previously, Administration in Finance from Trisakti
Banking & Sharia Non Retail Product Head, he served at Maxima Resources, American University.
Sharia Product & Business Process Head, Sharia International Group (AIG) and Lippo Life
Financial Management & Analytics Head, and MIS Bancassurance.
& Sharia Reporting Head.
He earned his bachelor’s degree from University
She earned her master’s degree in Management of Jember and worked as a lecturer at the
(Strategic Finance) from Paramadina Post University of Indonesia in 2006-2008.
Graduate School of Business and her bachelor’s
degree of Economics (majoring in Accounting)
from Padjadjaran University. She also obtained
Sharia Accounting Certification from Indonesian
Institute of Accountants.

LENA SUHERMAN ONIHANA ROY BAHREN SIREGAR

HEAD OF LOAN WORKOUT – HEAD OF LOAN WORKOUT – HEAD OF ASSET LIABILITY
COMMERCIAL BANKING & MSME CORPORATE BANKING MANAGEMENT
Joined CIMB Niaga in July 2015. She started He has been serving as Head of Loan Workout Started his career as a Management Trainee for
her career at Bank Permata (formerly Bank for Corporate Banking at CIMB Niaga since July the Executive Education Program at Bank Niaga
Bali), in 1991-2010, with last position as Head 2017. He handled loan recovery starting in 2006 in 2004 and has been currently serving as Head
of Special Asset Management. Prior to joining at Commonwealth Bank and most recently of Asset Liability Management since September
CIMB Niaga, she served as the Head of Special at HSBC as Head of Loan Management Unit 1, 2020. He previously served as Asset Liability
Asset Management at Bank UOB Indonesia starting in 2010. Prior to that, he served for 10 Management Head, Asset Liability Coordinator
(2010-2015). years in Permata Bank. and Division Head of Bank Products, FTP &
Hedging.
She earned her Bachelor of Economics from He earned his Bachelor of Economics from
Atma Jaya Yogyakarta University in 1991. Tarumanagara University in 1993. He earned his MBA from Gajah Mada University
and Bachelor of Economics from Padjadjaran
University.
SANTORI MALINTON ANTON HERMAWAN HELEN MARIS

HEAD OF DATA MANAGEMENT HEAD OF DIGITAL BUSINESS HEAD OF FINANCE
DEVELOPMENT
Joined CIMB Niaga and has been serving as Has been serving as Head of Digital Business Has been serving as Head of Finance since
Head of Data Management since January 2020. Development since 2018. Prior to joining CIMB November 2019 after previously holding the
Previously, he had a career at HSBC Indonesia Niaga, he served as Digital Banking Group position as Head of Business Planning and
as SVP IT Data Management since 2018. He has Head at Bank Sinarmas (2017-2018), Head of Network Management - Consumer Bank since
gained experiences and served in various roles E-Channel at Bank Permata (2009-2017) and July 2016. Starting her career as a Management
and responsibilities in Technology Risk and several positions at Bank BCA from 1996 to Associate at Citibank Indonesia, then she
Audit at the Commonwealth Bank of Australia 2008. was rotated in various countries with various
Group (Australia and New Zealand) in 2010- positions as Financial Planning and Analysis
2018, Ernst & Young (Australia) in 2007-2010 He earned his master’s degree of Management Head, Consumer Bank HR Generalist Head and
and PricewaterhouseCoopers, Jakarta. from the University of Indonesia and bachelor’s Chief of Staff.
degree from Bandung Institute of Technology.
He earned his bachelor’s degree from Bina She earned her Bachelor of Business and
Nusantara University. Master of Business in Finance from University of
Technology, Sydney, Australia
RIA YOHANITA NICKO VIRANICKO WASKIN

HEAD OF OPERATIONAL HEAD OF RISK CONTROL UNIT - HEAD OF STRATEGIC PROCUREMENT &
ACCOUNTING STRATEGY, FINANCE & SPAPM ADMIN PROPERTY MANAGEMENT/SPAPM
Has been serving as Head of Operational Has been serving as Head of Risk Control Unit Has been serving as Head of Strategic
Accounting at Bank CIMB Niaga since June 2017. since September 2020, after previously serving Procurement & Admin Property Management
She has gained experiences in banking industry as Risk Control Unit Head since 2017. CIMB Niaga since October 2018. Previously, he
for more than 12 years starting with Supervisor served at CIMB Niaga as Group Head of Project
and Assistant Manager, Finance & Accounting He earned his bachelor’s degree of Business Development & Integration Management,
Department at PT ANZ Panin Bank (2004 - 2009), and Management from Slippery Rock University, at Bank Permata as Group Head of Data
then Head of Project & Development, Finance United States. Quality & Strategic Information Management,
& Accounting Department at PT Bank UOB at CIMB Niaga as Division Head Information
Indonesia (year 2011 - 2013), Head of FTP Policy Management, at Panin Bank as Head of IT
& Framework, Central Treasury Unit at PT Bank Security & Core Banking Implementation, at
UOB Indonesia (2013 - 2016) before finally Bank Bali as IT Development.
joining PT Bank CIMB Niaga as Risk Control Unit
Head in Strategy & Finance directorate in 2016. He earned his bachelor’s degree of Information
Management from Faculty of Computer Science,
She earned her Bachelor of Commerce (B. Gunadarma University, Depok, West Java,
Com) in Finance & Financial Management Indonesia and his post graduate degree in
Services and Master of Commerce (M. Com) in Sharia Business Management from Faculty of
Accounting & Finance from University of New Economics, Tazkia Institute, Sentul Bogor, West
South Wales - Sydney. Java, Indonesia

SAUT PARULIAN SARAGIH IWAN PUJIHARTO FAISAL ASWIN TAMBAYONG

HEAD OF STRATEGY, INVESTOR HEAD OF TAX MANAGEMENT HEAD OF TRANSFORMATION
RELATION & PARTNERSHIP
Joined CIMB Niaga as Head of Strategy in 2019 Joined CIMB Niaga in April 2013 and is currently Has been serving as Head of Transformation
and has been serving as Head of Strategy, serving as Head of Tax Management. He had in 2020 after previously serving as Head of
Investor Relations & Partnership since 2020. a career at Bank Permata (2006-2013) with Commercial Banking (2015-2019) and Head of
Previously he had more than 20 years of last position as Head of Tax. He also had Business Product and Strategic Development
experience serving in various companies and experiences as a Tax Consultant at Ernst & since January 2013. He previously held senior
industries including Unilever, AT Kearney, Young (2001-2006) and Arthur Andersen (1998- positions at ABN AMRO and ANZ Indonesia as
Standard Chartered Bank, Bank Permata, 2001). Head of Business Banking.
Sampoerna Agro, Sampoerna Strategic, and
OVO. He is a graduate of STIE Perbanas with a He earned his Bachelor of Law from Sebelas
Bachelor of Economics and is currently a Maret University, Solo, Indonesia and attended
He earned his MBA from the London Business member of Tax Committee of National Bank the Bank Niaga Executive Education Program
School - United Kingdom and a Bachelor of Association (Perbanas) in 1990.
Engineering degree (Cum Laude) from Industrial
Engineering Department - Bandung Institute of
Technology.
ERIC AUGIE SAPUTRA PATRICIA HENDRAWIRAWAN FURIYANTO

HEAD OF TRANSFORMATION HEAD OF BUSINESS STRATEGY & HEAD OF SECURITIES SERVICES
SUPPORT
Has been serving as Head of Transformation Joined CIMB Niaga in June 2013 and served Has been serving as Head of Securities Services
since 2020 and previously served as Head of in various roles including Sales Management CIMB Niaga since September 2016. He started
Customer Journey CIMB Niaga since 2019. Head, Segmentation Strategy Head, Strategic his career at CIMB Niaga in 1991, then moved
Prior to that, he has gained a total of 8 years Planning & Performance Management Head, to have a career at IBRA and later rejoined CIMB
of experience working in Malaysia as Director, and Business Strategy & Support Head since Niaga again in 2003.
Retail Risk Analytic Head & Regional Risk Head February 2018. She also had a career at
for Auto & Personal Loan Products at CIMB Asuransi AXA Indonesia as Head of Strategic He earned his Bachelor of Mathematics from
Group, and at Standard Chartered Malaysia Planning & Development, Bank ICBC Indonesia Gajah Mada University and Master of Financial
Bank Berhad as Senior Manager, Risk Analytic and Bank UOB Buana. Management from a state university in
for Consumer Banking. Previously, he began Indonesia.
his career at Astra Credit Companies and held She earned her Master of Management from
various senior positions in the Credit Risk sector University of Indonesia with Cum Laude and
for 10 years. Bachelor of Economics from Tarumanagara
University Jakarta.
He earned his bachelor’s degree of Industrial
Engineering from Bandung Institute of
Technology.
JONI HERMANTO AMIR MIRZA FERDINAND RENALDI

HEAD OF TRANSACTION BANKING HEAD OF TRANSACTION BANKING WAWOLUMAYA
COMMERCIAL SALES & TRADE PRODUCT CORPORATE & FI SALES, AND CASH PRODUCT HEAD OF TRADING & STRUCTURING
Has been serving as Head of Transaction Has been serving as Head of Transaction Prior to serving as Head of Trading &
Banking Commercial Sales & Trade Products Banking Corporate & FI Sales and Cash Products Structuring, he had held several positions at
at Transaction Banking Directorate effective starting March 2020 after previously serving CIMB Niaga, including among others Trading &
March 1, 2020. He previously worked at PT Bank as Head of Cash Management. He started his Restructuring Head, Rate & Structuring Head.
Danamon Indonesia Tbk as Financial Institution banking career and served in senior positions at He has gained experiences in Treasury since
Head and Acting Regional Transaction Banking Deutsche Bank AG Jakarta, prior to finally joining 2004.
Sales Head & Trade Sales Head, PT Bank HSBC Bank CIMB Niaga in November 2009.
Indonesia as Senior Business Development He earned his Bachelor of Science from National
Manager and PT Bank Commonwealth He earned his bachelor’s degree of Industrial University of Singapore.
Indonesia as Head of Global Trade and Engineering from Bandung Institute of
Transaction Services. Technology.
He graduated from Department of Financial
Management, Trisakti University in 1999.

AULIA MOCHTAR HERNAMAN TANDIANTO JULIANA

HEAD OF MONEY MARKET & HEAD OF TREASURY DISTRIBUTION HEAD OF PRIVATE BANKING
FUNDING – TREASURY
Joined CIMB Niaga in 2006, as Trading Desk Has been serving as Head of Treasury Has been serving as Head of Private Banking
Head and served as Funding & Gapping Group Distribution of CIMB Niaga since 2018. at the Treasury and Capital Market Directorate
Head since 2009. He started his banking career Previously, he has gained 18 years of work effective December 16, 2019. She started
at several local banks and Japanese banks. experience in the banking industry with 15 her career in banking industry in 1998 at
years of which in Treasury Sales both in foreign Citibank, NA Indonesia. Prior to joining CIMB
He earned his Bachelor of Computer Science and local banks, and in all customer segments Niaga, she served in several Private Banking
from Embry Riddle Aeronautical University, both corporate and retail customers. He has sectors including Bank LGT Ltd. Singapore as
Daytona Beach - Florida USA. gained experience and certifications in a variety Director-Private Banker, PT Julius Baer Advisors
of products from plain vanilla, derivatives and Indonesia and Bank Julius Baer & Co. Ltd.,
structured products. Singapore as Director-Senior Client Advisors,
Standard Chartered Private Bank, Singapore
He earned his MM degree from Gajah Mada and American Express Private Bank, Jakarta.
University and bachelor’s degree in Civil
Engineering from Atma Jaya University. She graduated from Department of Economics,
Parahyangan Catholic University in 1997.
SJARIF HARTADY GUNAWAN AGUS SETIONO I WAYAN ARIESTA WINARSA

HEAD OF TREASURY SALES HEAD OF TREASURY ISLAMIC HEAD OF SERVICE & DELIVERY
Prior to serving as Head of Treasury Sales, he Has been serving as Head of Treasury Islamic Has been serving as Head of Service & Delivery
served as Risk Advisory & Institutional Sales since October 1, 2020 after previously serving starting October 2020 and previously served
Group Head and Derivative Sales & Structuring as Treasury Islamic Head from 2013. He joined as Application & Documentation Head. Prior to
Head at CIMB Niaga since October 2011. He has CIMB Niaga in Executive Development Program that, he served at Bank BII, American Express
specialized in Treasury and Capital Market since in 2004. Bank, and Bank Mandiri, then at Deutsche Bank
2001 at Standard Chartered Bank, Citibank and (2005-2010) as Client Service & Implementation
most recently at OCBC NISP as Head of Risk He earned his Master of Management Manager under Account Management & Service,
Advisory Workgroup since 2009. from University of Indonesia and Bachelor Global Transaction Banking Indonesia
of Engineering from Bandung Institute of
He earned double degrees in Bachelor of Technology. He earned his Bachelor of Engineering
Banking and Finance/Bachelor of Social Art from degree from National Institute of Science
Monash University, Australia in 1995. and Technology majoring in Civil Engineering
and had also participated in the Middle
Management Development Program in
Malaysia.
DANIEL EDISON HUTAPEA HADI SOEDARSO DIVA MAHDI

HEAD OF TREASURY RISK ANALYTICS HEAD OF CREDIT RELATED RCU HEAD OF MARKET RISK MANAGEMENT
& RCU & MODEL VALIDATION
Has been serving as Head of Treasury Risk Started his career at Bank Niaga in November Joined CIMB Niaga in August 2013 as Market
Analytics & RCU since 2017. He started his 1995 and during his career, he held various Risk Management Head. Previously, he served
banking career as an Account Officer at Bank roles including Value Chain & Business Synergy as Market Risk Head at Bank OCBC NISP in
Niaga in 1997 with last position as Relationship Head, Corporate Business Group Head, Project 2010-2013, Trading Risk Head at Bank Danamon
Manager of Financial Institutions from 2000 to Management Support Head. in 2008-2010 and Treasury Risk Analyst at Bank
2008. He also served as Credit & Operational of Tokyo-Mitsubishi UFJ in 2003-2008.
Risk Analytics Head at CIMB Niaga since 2008. He graduated from University of Indonesia with
an SSI degree. He completed his education at Hogeschool
He earned his Bachelor of Economics in ‘s-Hertogenbosch, the Netherlands majoring in
Accounting from Padjajaran University, Civil Engineering.
Bandung in 1995

SANDI MARUTO BANAR GRATIANUS YUNIARTA ELISA GUNAWAN

HEAD OF ALM RISK HEAD OF AUDIT - BUSINESS BANKING & HEAD OF AUDIT – ENABLERS
CONSUMER BANKING
Prior to joining CIMB Niaga in February 2015 Joined CIMB Niaga in January 2018 as Head of Started her career as an External Auditor at
serving as ALM Risk Group Head, he had a Business Banking & Consumer Banking Audit KAP Tanudiredja, Wibisana, Rintis & Rekan
career at Standard Chartered Bank as Country with working experiences at Accenture, BV Risk (PricewaterhouseCoopers Indonesia - PwC
Head of Market & Liquidity Risk in 2015. He also Management division for Financial Services Indonesia) in 2010. She joined CIMB Niaga as
served as Head of Analytics & Policy at Bank based in Amsterdam, the Netherlands since Segment Head Audit in September 2018 and is
Danamon in 2011. 2011. Previously, he worked at Royal Bank of currently serving as Head of Audit - Enablers.
Scotland (RBS) Jakarta as Deputy Head of Global
He obtained Financial Risk Manager (FRM) Network Banking, and ABN Amro Bank, NV as She earned her Bachelor of Economics from
certification from the Global Association of Risk APAC regional audit manager in Jakarta (2005). Tarumanagara University, and obtained the
Professionals (GARP), graduated from PPM His banking career began with the Asia Pacific following certifications including Certified Public
School of Management with a degree in Master Management Trainee program for ABN AMRO Accountant (CPA Indonesia) from Indonesian
of Management and earned Bachelor of Civil Bank Asia Pacific (2000). Institute of Certified Public Accountants (IAPI),
Engineering degree from Bandung Institute of ASEAN Chartered Professional Accountant
Technology. He earned his Bachelor of Economics from (ASEAN CPA), certified Risk Management (BSMR)
Atma Jaya University, a Research Diploma from level 4, and certified Business Analytics: From
Universitaet Innsbruck, Austria, and Master of Data to Insights from The Wharton School -
Science from Rijksuniversiteit Groningen, the University of Pennsylvania.
Netherlands.
HARTONO AGUS LYDIYA WIDJAJA SUDONO SALIM

HEAD OF AUDIT – IT HEAD OF AUDIT - OPERATION, HEAD OF AUDIT - PROFESSIONAL
SYARIAH & S&D PRACTICES
Started his career at CIMB Niaga in 2010 as IT Joined CIMB Niaga in July 2018 as Audit Segment Joined CIMB Niaga in July 2020 as Audit Segment
Audit Head, with experience as IT Audit Head Head. Previously, he served as Audit Head Head and is currently serving as Head of Audit
at Bank Danamon. He worked at Schlumberger at Bank OCBC NISP (2007-2018) and started - Professional Practices. He worked at PwC
(2001-2003) and PricewaterhouseCoopers her career at Bank BCA (1996-2007) with last Indonesia (2007-2013; 2015-2020), PwC USA -
(1996-2007). position as Senior Auditor. New York Office (2013-2015), and EY Indonesia
(2007).
He earned his Bachelor of Technology She earned her Master of Management and a
(Computer Studies) from Monash University. Bachelor of Economics from Unika Atma Jaya. He obtained his Accountant certification
from University of Indonesia and Bachelor of
Economics from the University of Surabaya.
ALBERT AGUSTIUS SYAMSUL AIDI BACHTIAR

HEAD OF AUDIT - TB, RISK HEAD OF ADVISORY & LEGAL
MANAGEMENT, TREASURY & PRODUCT
Started his career as Internal Auditor at Bank Joined CIMB Niaga in February 2013 as Syariah
BCA in 2006 and later Citibank APAC EMEA Advisory Head. Previously, he had a career at
Consumer Audit Team in 2011. He joined CIMB Bank Syariah Mandiri (2002-2013) with last
Niaga in May 2020. position as Branch Manager.
He earned his Bachelor of Economics from He earned his Master of Management from
University of Indonesia. National University of Malaysia and Bachelor of
Sharia Law from Al Azhar University, Cairo.

EMPLOYEES AND COMPETENCY

DEVELOPMENT STATISTICS
Number of Employees by Directorate and Sub Directorate
Directorate 2020 2019

Consumer Banking 7,618 7,856
Business Banking 1,163 1,233
Transaction Banking 169 168
Treasury & Capital Market 101 85
Sharia Banking 88 91
Operations & IT 1,608 1,654
Strategy, Finance & SPAPM 479 415
Human Resources 168 173
Risk Management 380 393
Special Asset 58 78
Compliance, Corporate Affairs & Legal 103 94
Corporate Assurance 114 120
Anti Fraud Management 15 12
Total 12,064 12,372
Number of Employees by Organization Level
Organization Level 2020 2019

Senior Management 217 202
Middle Management 1,406 1,428
Junior Management 7,543 7,488
Non-Management 2,898 3,254
Total 12,064 12,372
Number of Employees by Education Level
Education Level 2020 2019

Up to High School 729 825
Diploma 1 33 37
Diploma 2 8 14
Diploma 3 1,591 1,764
Diploma 4 7 7
Bachelor’s Degree 9,156 9,186
Master’s Degree 537 536
PhD 3 3
Total 12,064 12,372
Number of Employees by Employment Status
Employment Status 2020 2019

Permanent Employee 10,695 11,127
Contract Employee 1,369 1,245
Total 12,064 12,372

Number of Employees by Length of Service
Length of Service (years) 2020 2019

<1 1,346 3,522
>1-5 4,755 2,451
> 5 - 10 2,746 2,779
> 10 - 15 1,166 1,384
> 15 2,051 2,236
Total 12,064 12,372
Number of Employees by Age
Age (years) 2020 2019

< 25 1,126 1,275
> 25 - 30 3,063 2,972
> 30 - 35 2,608 2,710
> 35 - 40 2,352 2,305
> 40 2,915 3,110
Total 12,064 12,372
Number of Employees by Gender
Gender 2020 2019

Male 5,826 5,946
Female 6,238 6,426
Total 12,064 12,372
Competency Development Programs Based on Type of Training
2020 2019
Type of Training
Participants (people) Man-days (days) Participants (people) Man-days (days)
Managerial, Leadership & Soft Skills 143,061 40,302 87,416 31,742
Development Program & The Complete Banker 705 50,803 666 46,264
Risk, Corporate Assurance & Compliance 66,479 28,730 79,403 17,048
Digital, Data, Design (3D) 29,287 15,981 3,381 2,899
Sales 52,399 19,051 29,480 20,757
Service 44,463 26,351 22,284 22,802
Treasury, Finance & Tax 15,720 3,330 702 918
Credit 1,283 1,833 2,011 3,500
Operations & IT 938 780 1,882 2,631
Sharia 14,385 6,689 72,741 18,484
Transaction Banking 131 202 608 798
Culture 6,186 2,523 59,486 21,847
Purna Bakti 189 510 324 1,032
Sustainability Finance 9,323 2,950 444 807
Team Building - - 14,053 3,827
Other - - 462 148
Total 384,549 200,034 375,343 195,504

Type, Objective, and Participants/Job Position Levels
Percentage who have

Senior Middle Junior & Non
Total attended training for
Type of Training Training Management Management Management
each type of training
2020 2019 2020 2019 2020 2019 2020 2019 2020 2019
Managerial, Develop employee leadership skills, managerial skills 1,558 1,102 12,858 9,657 128,645 76,657 143,061 87,416 37% 23%
Leadership & Soft and soft skills
Skills
Development Development programs to provide a thorough - - - - 705 666 705 666 0.2% 0.2%
Program & TCB understanding the following fields ITDP, ODP,
SMEDP, RMDP, Teller DP and TCB development
programs that provide a thorough understanding of
the banking industry
Risk, Corporate Developing employee ability to manage risk and 1,196 1,494 7,432 9,871 57,851 68,038 66,479 79,403 17% 21%
Assurance & improve competencies in all job roles
Compliance
Digital, Data, Improve competencies and skills in the digitalization 519 19 3,634 415 25,134 2,947 29,287 3,381 8% 1%
Design (3D) era
Sales Improve employee competencies and skills in the 142 223 4,874 4,557 47,383 24,700 52,399 29,480 14% 8%
sales aspect
Service Develop competencies and skills in providing 596 127 3,695 1,761 40,172 20,396 44,463 22,284 12% 6%
satisfactory services and experiences to customers
Treasury, Finance Improve employee competencies and skills in 134 27 1,525 163 14,061 512 15,720 702 4% 0.2%
& Tax carrying out tax association, customs and other
fiscal activities
Credit Improve competencies and skills in the credit value 46 67 249 492 988 1,452 1,283 2,011 0.3% 1%
chain and build integrated credit processes
Operations & IT Improve employee competencies and skills in 7 61 108 281 823 1,540 938 1,882 0.2% 1%
carrying out business operations and developing the
Company’s information technology capabilities
Sharia Increase employee competencies and skills in 216 837 1,414 7,375 12,755 64,529 14,385 72,741 4% 19%
carrying out banking activities based on Sharia
Transaction Banking Improve employee competencies and skills in 6 3 35 100 90 505 131 608 0,03% 0.1%
carrying out financial transaction activities
Culture Developing employee skills in corporate culture 134 1,085 744 8,367 5,308 50,034 6,186 59,486 2% 16%
Purna Bakti Improve employee competencies and skills before - 4 16 60 173 260 189 324 0.05% 0.1%
entering retirement
Sustainability Finance Develop competencies and skills in achieving 228 82 1,257 171 7,838 191 9,323 444 2% 0.1%
Sustainable Development Goals
Team Building Togetherness activities to strengthen cooperation - 396 - 2,311 - 11,346 - 14,053 0% 4%
relationships that have an impact on improving team
performance
Other Develop employee technical competencies and skills - 61 - 105 - 296 - 462 0% 0%
in accordance with business needs to achieve the
Company’s targets
Total 4,782 5,588 37,841 45,686 341,926 324,069 384,549 375,343 100% 100%
Percentage that has attended training for each level of position 1% 1% 10% 12% 89% 86% 100% 100%

Employee Competency Development Data
Senior Middle Junior & Non

Total
Type of Training Management Management Management
2020 2019 2020 2019 2020 2019 2020 2019
Managerial, Leadership & Soft Skills 506 632 3,852 4,044 35,944 27,066 40,302 31,742
Development Program & TCB - - - - 50,803 46,264 50,803 46,264
Risk, Corporate Assurance & Compliance 574 495 3,485 2,838 24,670 13,715 28,730 17,048
Digital, Data, Design (3D) 540 19 2,102 594 13,339 2,286 15,981 2,899
Sales 47 156 1,767 3,184 17,237 17,417 19,051 20,757
Service 379 120 2,278 2,004 23,695 20,678 26,351 22,802
Treasury, Finance & Tax 27 38 330 244 2,973 636 3,330 918
Credit 64 112 368 772 1,401 2,616 1,833 3,500
Operations & IT 10 77 108 442 662 2,112 780 2,631
Sharia 88 212 634 1,999 5,967 16,273 6,689 18,484
Transaction Banking 11 4 69 118 122 676 202 798
Culture 44 349 224 2,827 2,256 18,670 2,523 21,847
Purna Bakti - 14 37 198 474 820 510 1,032
Sustainability Finance 84 104 422 323 2,444 380 2,950 807
Team Building - 125 - 791 - 2,910 - 3,827
Other - 16 - 30 - 102 - 148
Total 2,375 2,473 15,676 20,409 181,984 172,622 200,034 195,504
Competency Development Costs
Type of Development (Rp billion) 2020 2019

Management 69.78 117.51
Domestic External Seminars & courses 1.32 4.12
Overseas External Seminars & courses - 0.55
Corporate Culture 3.20 10.48
Training Center 12.58 13.42
Operational Training 52.30 44.92
Sub-Total 139.17 191.00
Realization of reserves from the previous year 12.33 43.00
Total 151.50 234.00
During 2020, the HR development fund allocated by the Bank was Rp151.5 billion, a decrease of 35% compared to
Rp234.0 billion in the previous year. The decrease was due to on-line training innovation, which improved cost
efficiency. However, the total training and number of participants also increased, namely a 2% increase of total training
participants and 2% increase of total training days.
Policy on Occupational Health and Safety

The Bank has policy on Occupational Health and Safety which is described in the Corporate Social Responsibility section
of this Annual Report.

SHAREHOLDER
COMPOSITION
TOP 20 LARGEST SHAREHOLDERS
Number of Shares Shareholding

No. Shareholder Status
(units) (%)
1. CIMB GROUP SDN B HD - NON TRADING Malaysia – Tax Treaty 22,936,243,134 91.26
2. PT COMMERCE KAPITAL NPWP Limited Liability Company 255,399,748 1.02
3. CITIBANK NEW YORK S/A GOVERNMENT OF NORWAY - 16 Institution - Foreign 201,368,500 0.80
4. PT BANK CIMB NIAGA TBK *
Bank Domestic 197,986,802 0.79
7. CIMB GROUP SDN BHD - TRADING Malaysia – Tax Treaty 55,093,447 0.22
8. LINDRAWATI WIDJOJO Individual – Domestic 54,900,000 0.22
9. FUND ICAV Institution - Foreign 52,000,000 0.21
10. PHILLIP SECURITIES PTE LTD Institution - Foreign 39,103,915 0.16
11. PT SUCOR INVESTAMA NPWP Limited Liability Company 38,100,000 0.15
12. JOSEPH HARJA TARUNA Individual – Domestic 33,010,300 0.13
13. MANULIFE DANA EKUITAS NPWP Insurance 28,372,600 0.11
14. THE NT TST CO S/A VB SELECT PAN-ASIA FUND I, LP Institution - Foreign 28,000,000 0.11
15. PT KL TRIO NPWP Limited Liability Company 26,050,000 0.10
16. CGS-CIMB SECURITIES (SINGAPORE) PTE LTD Institution - Foreign 24,980,240 0.10
17. PT AMB FINANSIAL INDONESIA NPWP Limited Liability Company 22,500,000 0.09
18. OCBC SECURITIES PTE LTD - CLIENT A/C Institution - Foreign 21,451,981 0.09
19. CLEARSTREAM BANKING S.A. LUXEMBOURIG Institution - Foreign 18,695,129 0.07
20. BNYM RE BNYMLB RE EMPLOYEES PROVIDENTFD Malaysia – Tax Treaty 17,896,156 0.07
BOARD-2039927326
Other 775,185,780 3.08
Total 25,131,606,843 100.00
*)
Treasury Stocks.
SHAREHOLDER WITH MORE THAN 5% SHARES
1 January 2020 31 December 2020
Shareholder Number of Percentage of Number of Percentage of Type of Shares

Shares Ownership Shares Ownership
(units) (%) (units) (%)
CIMB GROUP SDN BHD - Trading 22,991,336,581 91.48 22,991,336,581 91.48 Common Stocks
As of 31 December 2020, there were no institutional shareholders who owned shares of more than 5% of CIMB Niaga’s
shares other than CIMB Group Sdn. Bhd., which is the controlling shareholder of the Bank. However, CIMB Niaga
remainguarantees the rights of shareholders as stipulated in Article 11 Paragraph 11.3. The Articles of Association state
that shareholders, individually or collectively, who represent at least 1/10 of the total shares with valid voting rights, can
propose a GMS agenda, including in this case the proposed nominations for members of the Board of Directors and
Board of Commissioners of the Bank.

SHAREHOLDERS WITH LESS THAN 5% SHARES
Local Foreign
1 January 2020 31 December 2020 1 January 2020 31 December 2020

Shareholders
Group Type of Type of
Percentage of Percentage of Percentage of Percentage of
Total of Shares Total of Total of Shares Total of Shares Total of Shares Total of Total of Shares Total of Shares
Ownership Ownership Ownership Ownership
(Units) Shareholders (Units) Shareholders (Units) Shareholders (Units) Shareholders
(%) (%) (%) (%)
Individual 433,773,147 1.73 18,043 557,717,269 2.22 21,726 Common 12,803,935 0.05 109 10,563,467 0.04 104 Common
Stocks & Stocks &
MESOP/ MESOP/
ESOP ESOP
Institution - - - - - - Common 897,329,683 3.57 158 853,909,563 3.40 143 Common

Stocks Stocks
KITAS NPWP - - - 8,154,797 0.03 20 Common 11,901,713 0.05 13 - - - Common

Individual Stocks & Stocks &
MESOP/ MESOP/
ESOP ESOP
Bank 201,953,536 0.80 27 6,851,169 0.03 26 Common - - - - - - -

Stocks
Broker 8,923,978 0.04 48 6,601,359 0.03 48 Common - - - - - - -

Stocks
Government of 130,500 0.00 1 130,500 0.00 1 Common - - - - - - -

the Republic of Stocks
Indonesia
Insurance – 113,891,990 0.45 31 52,076,290 0.21 27 Common - - - - - - -

NPWP Stocks
Cooperative 611,313 0.00 12 611,213 0.00 12 Common - - - - - - -

Stocks
Reksadana 142,685,834 0.57 72 37,451,161 0.15 28 Common - - - - - - -

(Mutual Fund) Stocks
Pension Funds 19,046,674 0.08 40 10,153,374 0.04 36 Common - - - - - - -

Stocks
NPWP Limited 351,222,320 1.40 381 396,981,132 1.58 387 Common 898 0.00 2 898 0.00 2 Common
Liability Stocks Stocks
Company
Limited Liability 54,783 0.00 3 54,783 0.00 3 Common - - - - - - -

Company Stocks
without NPWP
Foundation 43,968 0.00 31 43,968 0.00 31 Common - - - - - - -

Stocks
NPWP 989,437 0.00 5 989,437 0.00 5 Common - - - - - - -

Foundation Stocks
Total 1,273,327,480 5.07 18,694 1,077,816,452 4.29 22,350 - 922,036,229 3.67 282 864,473,928 3.44 249 -
In 2020, the group of Bank shareholders owning less than 5% was of 22,599 (twenty-two thousand five hundred ninety-
nine) shareholders consisting of institutions and individuals. Shareholder groups of less than 5% ownership based on
the classification of individuals and institutions, both local and foreign, are as follows:
1 January 2020 31 December 2020
Shareholder Groups Percentage Percentage

Total Total Shares Total Total Shares
Ownership Ownership
Shareholders (units) Shareholders (units)
(%) (%)
Local 18,043 433,773,147 1.72 21,746 565,872,066 2.25
Individual
Foreign 122 24,705,648 0.09 104 10,563,467 0.04
Local 651 839,554,333 3.34 604 511,944,386 2.04
Institution
Foreign 160 897,330,581 3.57 145 853,910,461 3.40

NUMBER OF SHAREHOLDERS AND PERCENTAGES BASED ON CLASSIFICATION
Number of Shareholding
Shareholder Groups Number of Shares
Shareholders (%)
Local
Bank 27 204,831,051 0.82
Broker 48 6,601,359 0.03
Indonesian Government 1 130,500 0.00
Individual 21,726 557,717,269 2.22
NPWP Insurance 27 52,076,290 0.21
Cooperative 12 611,213 0.00
Mutual Fund 28 37,451,161 0.15
Pension Fund 36 10,153,374 0.04
NPWP Limited Liability Company 387 396,981,132 1.58
Non-NPWP Limited Liability Company 3 54,783 0.00
Foundation 31 43,968 0.00
NPWP Foundation 5 989,437 0.00
Sub Total 22,331 1,267,641,537 5.04
Foreign
Individual 104 10,563,467 0.04
Institution 147 23,845,246,144 94.88
NPWP Limited Liability Company 2 898 0.00
Individual - KITAS & NPWP 20 8,154,797 0.03
Sub Total 273 23,863,965,306 94.96
Total 22,604 25,131,606,843 100.00
SHARE OWNERSHIP (DIRECT AND INDIRECT) OF THE BOARD OF COMMISSIONERS AND BOARD
OF DIRECTORS
Share ownership (direct and indirect) of members of the Board of Commissioners and Board of Directors who served
and/or were appointed in 2020, is as follows:
Other Bank/
CIMB CIMB
Financial
Name Position Niaga Group Non Financial Institution Shares
Institutions
Shares Shares
Shares
Dewan Komisaris
Didi Syafruddin Yahya* President Commissioner - 3,462 (<1%) • JP Morgan • AT&T: 5,000 shares or <5%;
Chase: • Empress Properties Sdn Bhd: 100
15,767 shares or 100% (registered as
shares or Didi Syafruddin Yahya, wife Sarina
<5%; Mahmood, and children Iman Yahya &
• PT KAF Farah Dianputri).
Sekuritas
Indonesia
(formerly
PT Varia
Inti
Sekuritas):
1,500,000
shares or
<5%;

Other Bank/
CIMB CIMB
Financial
Name Position Niaga Group Non Financial Institution Shares
Institutions
Shares Shares
Shares
Glenn Muhammad Vice President - - -
Surya Yusuf** Commissioner
(Independent)
Jeffrey Kairupan Independent - - - -
Commissioner***
Sri Widowati Independent - - - -
Commissioner
Dato’ Abdul Rahman Commissioner - - Malayan -
Ahmad**** Banking
Berhad:
25,000
shares (<5%)
David Richard Thomas Commissioner 1,102,531 Starbucks Corporation (SBUX): 1,814,619
(<1%) shares or <1% - (registered on behalf
David Richard Thomas & wife Catherine
Campbell Thomas)
Board of Directors
Tigor M. Siahaan President Director 6,515,657 127,949 - -
(<1%) (<5%)
Lee Kai Kwong Strategy, Finance & SPAPM - 9,832 (<1%) - -
Director
John Simon Treasury & Capital Market 219,101 350,875 - -
Director (<1%) (<5%)
Vera Handajani Risk Management Director 312,201 531,029 - -
(<1%) (<5%)
Lani Darmawan Consumer Banking 277,101 268,567 - -
Director (<1%) (<5%)
Pandji P. Djajanegara Sharia Banking Director 164,626 142,879 - -
(<1%) (<5%)
Fransiska Oei Compliance, Corporate 224,401 260,692 PT Bank -
Affairs & Legal Director (<1%) (<5%) Danamon
Indonesia
Tbk:
450,000
(<1%)
Tjioe Mei Tjuen***** Operations & Information - - - -
Technology Director
*)
Appointed as President Commissioner in the AGM on 9 April 2020 and effective as of 7 July 2020
**)
Appointed as Vice President Commissioner (Independent) in the AGM on 9 April 2020 and effective as of 16 September 2020
***)
Appointed as a Senior Independent Commissioner of the Bank through the Circular Resolution of the Board of Commissioners of CIMB Niaga No. 014/DEKOM/KP/VI/2019 as of 28 June 2019
****)
Appointed as a Commissioner in the AGM on 25 September 2020 and effective upon obtaining OJK approval and/or fulfilled the requirements as determined in the OJK approval
*****)
Appointed as Director in the AGM on 9 April 2020 and effective as of 3 November 2020
PURCHASE/SALE TRANSACTIONS OF THE BOARD OF COMMISSIONERS AND BOARD OF DIRECTORS

Based on OJK Regulation (POJK) No. 11/POJK.04/2017 concerning Ownership Report or Any Change of Share Ownership
Publicly listed company, each member of the Board of Commissioners and Board of Directors is required to submit
information to the Bank regarding ownership and any changes in ownership of Bank shares no later than 3 (three)
working days after the occurrence of the transaction. Furthermore, banks are required to submit a report to OJK on
the transaction no later than 10 (ten) days from the date of the transaction. Apart from referring to the OJK Regulation,
the Bank has provisions as stipulated in the policy on Conflict Management, which requires each member of the Board
of Commissioners and Board of Directors to notify about any purchase or sale of CIMB Niaga shares currently owned
at least 2 (two) working days prior to the transaction being conducted, and furthermore, it is obligatory to report the
transaction within 2 (two) working days after the transaction occurs. In the year of 2020, there were no purchase or
sale transactions of CIMB Niaga shares carried out by members of the Board of Commissioners and Board of Directors.

Number of Number of
Type of Shares as of Buy/Sell Share Shares as of Transaction
Name Position Reporting
Transaction 31 December Volume Prices 31 December Date
2019 2020
Didi Syafruddin Yahya* President Commissioner - - - - - - -
Glenn Muhammad Vice President - 69 - - - - -
Surya Yusuf** Commissioner
(Independent)
Jeffrey Kairupan Independent - - - - - - -
Commissioner***
Sri Widowati Independent - - - - - - -
Commissioner
Dato’ Abdul Rahman Commissioner - - - - - - -
Ahmad****
David Richard Thomas Commissioner - - - - - - -
Tigor M. Siahaan President Director - 6,471,356 - - 6,515,657 - -
Lee Kai Kwong Director - - - - - - -
John Simon Director - 167,300 - - 219,101 - -
Vera Handajani Director - 237,900 - - 312,201 - -
Lani Darmawan Director - 207,800 - - 277,101 - -
Pandji P. Djajanegara Director - 123,925 - - 164,626 - -
Fransiska Oei Director - 170,500 - - 224,401 - -
Tjioe Mei Tjuen***** Director - - - - - - -
*)
**)
***)
Appointed as a Senior Independent Commissioner of the Bank through the Circular Resolution of the Board of Commissioners of CIMB Niaga No. 014/DEKOM/KP/VI/2019 as of 28 June 2019
****)
Appointed as a Commissioner in the AGM on 25 September 2020 and effective upon obtaining OJK approval and/or fulfilled the requirements as determined in the OJK approval
*****)
CIMB NIAGA SHARE OWNERSHIP BY SENIOR EXECUTIVES

Officers at 1 level under the Board of Directors have shares in the Bank, either through the Management/Employee
Stock Option Program (MESOP) or Material Risk Taker (MRT) or purchases on the stock market. Details of CIMB Niaga’s
share ownership by Senior Executives as of 30 December 2020 have been uploaded on the Bank’s website and can be
accessed at the link: https://investor.cimbniaga.co.id/gcg/shareholdings_seo.html.
DEVELOPMENT OF CAPITAL STRUCTURE AND NUMBER OF OUTSTANDING SHARES IN THE LAST

5 (FIVE) YEARS
Within the period of 2016 to 2020, CIMB Niaga did not issue new shares, hence the capital composition at 31 December
2020 did not change, as follows:
Description Number of Shares Nominal (Rp)

Authorized Capital 50,886,460,336 2,900,000,000,000
Class A Nominal Rp5,000 71,853,936 359,269,680,000
Class A Nominal Rp50 50,814,606,400 2,540,730,320,000
Issued/Paid-up Capital 25,131,606,843 1,612,257,325,350
Class A Nominal Rp5,000 71,853,936 359,269,680,000
Class B Nominal Rp50 25,059,752,907 1,252,987,645,350
Stocks in the Portfolio 25,754,853,493 1,287,742,674,650
Class A Nominal Rp5,000 - -
Class B Nominal Rp50 25,754,853,493 1,287,742,674,650

CHRONOLOGY OF
SHARES ISSUED AND LISTING
CIMB Niaga listed its initial shares on the Indonesia Stock Exchange (formerly Surabaya Stock Exchange) on 29 November
1989, through an initial public offering of 5,000,000 shares of the Bank to the public with a nominal value of Rp1,000 per
share and an offering price of Rp12,500. From 2011 to the end of 2020, CIMB Niaga did not carry out share issuance and/
or listing. Information on the chronology of CIMB Niaga’s share listing and issuance up to the end of the financial year are
as follows:
Number of New Stock

Number of Total of Paid-Up
Year Corporate Action Shares and Shares Exchange
Shares Capital
Offering Price Listing Date
1989 Initial Public Offering (IPO) 5,000,000 29-11-1989 5,000,000 5,000,000,000
1991 Share Dividends 1,170,953 19-02-1991 6,170,953 6,170,953,000
1992 Limited Public Offering with Pre-emptive Rights (LPO I) 5,252,500 23-12-1992 11,423,453 11,423,453,000
1993 Company Listing 46,353,964 01-03-1993 57,777,417 57,777,417,000
1995 Bonus shares from agio 57,777,417 26-12-1995 115,554,834 115,554,834,000
1996 Convertible bonds 42,020,000 15-02-1996 157,574,834 157,574,834,000
1996 Limited Public Offering with Pre-emptive Rights (LPO 31,514,487 15-11-1996 189,089,321 189,089,321,000
II)
1997 Nominal Value Splits (Rp1,000 to Rp500/share) Class A (@Rp500) 08-09-1997 378,178,642 189,089,321,000
378,178,642
1997 Bonus shares from agio Class A (@Rp500) 16-09-1997 718,539,351 359,269,675,500
340,360,709
1999 Limited Public Offering with Pre-emptive Rights (LPO Class B (@Rp5) 09-08-1999 Class A 359,269,675,500
III) 71,135,395,749 718,539,351
Kelas B 355,676,978,745
71,135,395,749
2001 Limited Public Offering without Rights Issue (a total Class b (@Rp5) 21-3-2001 Class A 359,269,675,500
of 782,460,672 Class B shares not listed) 6,392,132,084 718,539,351
Kelas B 387,637,639,165
77,527,527,833
2004 Limited Public Offering without Pre-emptive Rights Class A (@Rp500) 9 12-5-2004 Class A 359,269,675,500
Class B (@Rp5) 7 718,539,360
Kelas B 387,637,639,200
77,527,527,840
2004 Combined nominal value 10 times (reverse stock) Class A (@Rp5,000) 21-5- 2004 Class A 359,269,680,000
Class B (@Rp50) 71,853,936
Kelas B 387,637,639,200
7,752,752,784
Limited Public Offering with Pre-emptive Rights (LPO IV) Class B (@Rp50) 31-8-2005 Class A 359,269,680,000
3,949,757,610 71,853,936
Kelas B 585,125,519,700
11,702,510,394
2004 ESOP implementation Class B (@Rp50) 20-8-2004 Class A 359,269,680,000
417,809,500 71,853,936
Class B 640,592,910,500
2005 Series 1 Warrants 691,538,316 31-8-2005
12,811,858,210
2008 Converting 3,915,733,039 shares of PT Bank Lippo Class B (@Rp50) 1-11-2008 Class A 359,269,680,000
Tbk in the context of merger 11,051,151,514 71,853,936
Kelas B 1,193,150,486,200
23,863,009,724
2010 Limited Public Offering with Pre-emptive Rights (LPO Class B (@Rp50) 30-12-2010 Class A 359,269,680,000
V) (a total of 11,967,431 Class B shares were not 1,196,743,183 71,853,936
listed) Class B 1,252,987,645,350
25,059,752,907
The number of shares that have been issued up to 30 December 2020, are as follows:
Type of Shares Total Stock Exchange

The number of Class A* shares listed 71,853,936 Indonesia Stock Exchange
The number of Class B shares** shares listed 24,808,436,839 Indonesia Stock Exchange
Number of Class B shares** not listed (1%) 251,316,068 Not Listed
*)
Class A Shares @ Rp5,000 per share
**)
Class B Shares @ Rp50 per share

CHRONOLOGY OF OTHER
SECURITIES LISTING
To strengthen its capital structure and support business expansion, CIMB Niaga has issued several Rupiah bonds and
sukuk. The bonds and sukuk include Subordinated Bonds I, II and III Bank CIMB Niaga, Shelf Registration Bonds I, II and
III Bank CIMB Niaga, and Shelf Registration Sukuk Mudharabah I Bank CIMB Niaga. All securities issued by CIMB Niaga
and outstanding securities are listed on the Indonesian Stock Exchange.
OUTSTANDING BONDS AND SUKUK

As of 31 December 2020, bonds and sukuk that were not yet due amount to Rp6,806,000,000,000 (six trillion eight
hundred six billion Rupiah) with a tenor of 370 days to 10 (ten) years, which were issued in stages from 2010 to 2020.
The list of CIMB Niaga bonds and sukuk that are not yet due and not yet paid off has been presented as Other Securities
Highlights as stated in the Share Highlights Sub-Chapter of this Annual Report.
MATURED AND SETTLED BONDS IN THE LAST 2 (TWO) YEARS

The list of CIMB Niaga bonds and sukuk that have matured and settled in the last 2 (two) years has been presented in
the Other Securities Highlights in the Stock Highlights Sub-Chapter of this Annual Report.
NEGOTIABLE CERTIFICATES OF DEPOSIT (NCD) ISSUANCES

During 2020, CIMB Niaga did not issue new Negotiable Certificates of Deposit (NCD). Information on settled NCD is as
follows:
Nominal
Issuance Maturity Tenor
Description Coupon Currency (in billion Status
Date Date (years)
Rp)
NCD I CIMB Niaga 2015 Series A 15 Dec 15 15 Jun 16 6 9.00% Rupiah 760 Paid
NCD I CIMB Niaga 2015 Series B 15 Dec 15 15 Dec 16 12 9.10% Rupiah 170 Paid
NCD II CIMB Niaga 2016 Series A 16 Jun 16 16 Sep 16 3 6.95% Rupiah 60 Paid
NCD II CIMB Niaga 2016 Series B 16 Jun 16 13 Jan 17 7 7.60% Rupiah 230 Paid
NCD II CIMB Niaga 2016 Series C 16 Jun 16 16 Mar 17 9 7.80% Rupiah 910 Paid
NCD III CIMB Niaga 2017 Series A 18 May 17 17 Nov 17 6 7.20% Rupiah 576 Paid
NCD III CIMB Niaga 2017 Series B 18 May 17 15 Feb 18 9 7.35% Rupiah 214 Paid
NCD III CIMB Niaga 2017 Series C 18 May 17 18 May 18 12 7.45% Rupiah 710 Paid

CORPORATE GROUP
STRUCTURE
Khazanah Employee
Nasional Berhad Provident Fund Public
27.22% 15.99% 12.20% 6.62% 37,97%
CIMB Group Holdings Berhad*
100%
Public
CIMB Group Sdn Bhd
92.50%**
7.50%
99.93% 94.78%
PT CIMB Niaga Auto Finance PT CIMB Niaga Sekuritas
*)
The Ultimate Beneficial Ownerships of CIMB Niaga are Khairulanwar Bin Rifaie and Rossaya Binti Mohd Nashir
**)
Including PT Commerce Kapital 1.02%
As of 31 December 2020, the Shareholders Composition of CIMB Niaga is as follows:
Nominal Amount
Name of Shareholder Number of Shares %
(in Rupiah)
CIMB Group Sdn Bhd 22,991,336,581 1,149,566,829,050 91.48
PT Commerce Kapital 255,399,748 12,769,987,400 1.02
Public Shareholders <5% *
1,884,870,514 449,920,508,900 7.50
Total Paid-Up Capital 25,131,606,843 1,612,257,325,350 100.00
*)
Including Treasury Stock
ULTIMATE SHAREHOLDERS AND with around 34,000 employees and more than 16 million
CONTROLLING SHAREHOLDERS customers as of the end of 2020.
Based on the table above, CIMB Group Holding (“CIMB
Group”) which controls 91.48% of the Bank’s shares, CIMB Group has been listed on Bursa Malaysia since
is the Ultimate Shareholder as well as the Controlling 1987 and is one of the largest companies with a market
Shareholder of CIMB Niaga. capitalization of RM43.5 billion as at 31 December 2020.
Total assets held at the end of 2020 reached RM602.4
CIMB GROUP PROFILE billion, with registered shareholder funds of RM55.9
CIMB Group is a leading ASEAN universal bank and one of billion and total sharia assets of RM143.0 billion. The
the region’s foremost corporate advisors. It is also a world largest shareholders at the end of 2020 consist of: (i)
leader in Islamic finance. CIMB Group is headquartered Khazanah Nasional Berhad with 27.22% share ownership,
in Kuala Lumpur, Malaysia, and offers consumer banking, (ii) Employees Provident Fund (EPF) with 15.99% share
commercial banking, investment banking, Islamic ownership, (iii) Kumpulan Wang Persaraan (KWAP) with
banking and asset management products and services. 6.62% share ownership, (iv) Permodalan Nasional Berhad
It is the fifth largest banking group by assets in ASEAN (PNB) with 12.20% share ownership, and (iv) public with
37,97% share ownership.

VISION
To be the leading focused ASEAN bank.
PURPOSE
To build a high performing sustainable organisation to help advance customers and society.
MANAGEMENT
Name Position
Datuk Mohd Nasir Ahmad Chairman/Independent Director
Dato’ Abdul Rahman Ahmad Group Chief Executive Officer/Executive Director
Teoh Su Yin Senior Independent Director

Robert Neil Coombe Independent Director
Dato’ Mohamed Ross Mohd Din Independent Director
Dato’ Lee Kok Kwan Non-Independent Director
Afzal Abdul Rahim Independent Director
Didi Syafruddin Yahya Independent Director
Shulamite Khoo Independent Director
Serena Tan Mei Shwen Non-Independent Director
CIMB GROUP HOLDINGS BERHAD

Level 13, Menara CIMB
Jalan Stesen Sentral 2 Kuala Lumpur Sentral
50470 Kuala Lumpur, Malaysia
Telp. : 603 2261 8888
Faks. : 603 2261 8899
Situs Web : www.cimb.com
Hubungan Investor : ir@cimb.com

SUBSIDIARIES, ASSOCIATIONS,
AND INVESTEE COMPANIES
SUBSIDIARIES
Total Assets
Line of Establishment Operational
Name Address Shareholding 2020
Business Year Status
(in billion Rp)
PT CIMB Niaga Auto Jl. Bintaro Utama 9 Blok B9/I No. 15, Financing 99.93% 1981 Active 3,585
Finance Bintaro Jaya Sektor IX Company
Kel. Pondok Pucung, Kec. Pondok Aren,
South Tangerang 15229
Tel. : +6221 2788 1800
Fax. : +6221 2788 1900
Call Center : 0804 1 090909
E-mail : info@cnaf.co.id
Website : www.cnaf.co.id
PT CIMB Niaga Graha CIMB Niaga Lt. 28 Securities 94.78% 2018 Active 270
Sekuritas Jl. Jend. Sudirman Kav. 58, Jakarta 12190 Company
Tel. : +62 21 5084 7848
Fax. : +62 21 5084 7849
E-mail : ib@cimbniaga-ibk.co.id
INVESTEE COMPANIES
Operational Ownership Line of Total Assets

Name Address
Status Portion Business (in billion Rp)
Bank Muamalat Indonesia* Muamalat Tower, Lt. 18 Jl. Prof. Dr. Satrio, Active 0.13% Sharia 50,555,519
Kav. 18 Jakarta 12940 Banking
Sarana Aceh Ventura* Jl. Tgk. Syech Muda Wali No. 39 Banda Active 1.32% Non-Bank 15
Aceh 23242 Financial
Institution
(LKBB)
Sarana Bali Ventura Jl. Diponegoro No. 150 Komplek IDT/Ruko Active 3.81% Venture 60,069
Genteng Biru Blok B 23-24 Denpasar Capital
Sarana Bhakti Ventura - Non-Active 2.71% Venture -
Capital
Sarana Jambi Ventura Jl. Kapten Pattimura No. 119 Jambi 36129 Active 2.24% Venture 31,382
Capital
Sarana Jateng Ventura Jl. Taman Sompok No. 18 Semarang Active 2.62% Venture 67,595
50249 Capital
Sarana Jatim Ventura Jl. Jemur Andayani No. 33 Surabaya Active 5.81% Venture 104,535
60237 Capital
Sarana Kalbar Ventura** Jl. M. Sohor No. 9 AB Pontianak 78121 Active 2.45% Venture 59,030
Capital
Sarana Lampung Ventura Jl. Diponegoro No. 69A Gulak Galik, Active 2.53% Venture 59,492
Bandar Lampung 35214 Capital
Sarana Maluku Ventura Jl. Kakyali – Tanah Tinggi Ambon 97123 Active 2.73% Venture 4,003
Capital
Sarana Papua Ventura Jl. Abe Tasangkapura No. Active 5.63% Venture 4,866
58 Jayapura, Papua 99223 Capital
Sarana Riau Ventura Komp. Perkantoran Grand Sudirman Blok Active 1.35% Venture 19,235
A-3 Jl. Datuk Setia Maharaja (d/h Parit Capital
Indah), Pekanbaru - Riau
Sarana Sulsel Ventura Jl. Faisal Raya, No. 14 Makassar Active 2.91% Venture 52,100
Capital
Sarana Sulut Ventura Kompleks Pasar Segar blok RC-17 Active 2.85% Venture 21,618
Paal Dua Jl. Yos Sudarso Manado Capital

Operational Ownership Line of Total Assets

Name Address
Status Portion Business (in billion Rp)
Sarana Sumatera Barat Ventura Gedung Rangkiang Ventura Jl. Khatib Active 3.37% Venture 95,845
Sulaiman No. 9 Kav. 5 s/d 7 Padang, Capital
Sumatera Barat
Sarana Surakarta Ventura Jl. M. Saleh Werdisastro No. 1 Active 1.85% Venture 56,062
Surakarta 57133 Capital
Sarana Yogya Ventura Jl. Yos Sudarso 25 Kotabaru Yogyakarta Active 3.94% Venture 52,458
55224 Capital
Other (<100,000 shares) - Active 0.05% - Financing -
According to Audited Financial 1.52% Institution
Report
*)
The aforementioned data is the audited total assets in 2019. The 2020 total assets are unaudited until the finalization process of this Annual Report and according to
the management’s policy of the related entity, such information can not be published, accordingly.
**)
The aforementioned data is unaudited until the finalization process of this Annual Report.
ASSOCIATED ENTITIES, JOINT VENTURES AND SPECIAL PURPOSE VEHICLE (SPV)

In 2020, CIMB Niaga does not have any Associated Entity, Joint Venture and Special Purpose Vehicle (SPV).
SUBSIDIARY PROFILE Vision:

To become a leading finance company in Indonesia.
“The most profitable multifinance”.
Mission:
Committed to becoming a leading Vehicle Financing Company
that provides the best value for all stakeholders, through the best
service to customers, strong and mutually beneficial partnership
relationships, quality human resources and contributing to society.
CIMB Niaga Auto Finance Profile:

Nama: PT CIMB Niaga Auto Finance (“CNAF”) was established on 10 December
PT CIMB Niaga Auto Finance 1981 under the name PT Saseka Gelora Leasing. Along with business
development, in August 1993, CNAF changed its name to PT Saseka
Date of Establishment: Gelora Finance by focusing on leasing.
10 December 1981
CIMB Niaga acquired CNAF in 1996 through an investment of 79.65%
Legal Basis of Establishment: shares and simultaneously became the majority shareholder. In
Deed No. 48 made before Frederik Alexander Tumbuan, S.H., Notary 2007, CIMB Niaga increased its ownership portion to 95.91%. In
in Jakarta, as amended by Deed No. 80 on 16 February 1982 and October 2009, in line with CIMB Niaga’s plans to be more serious
Deed No. 50 on 27 October 1982, under the name PT Saseka Gelora about working on financing businesses, CNAF made a transformation
Leasing. by changing its business focus from leasing to consumer financing. In
August 2010, CNAF changed its name to PT CIMB Niaga Auto Finance.
Line of Business: This name change is also accompanied by a change in the logo.
Financing Company
In mid-2015, CIMB Niaga as the majority shareholder of CNAF and
Address: PT Kencana Internusa Artha Finance (“KITAF”) has decided to merge
Jl. Bintaro Utama 9 Blok B9/I No. 15, Bintaro Jaya Sektor IX the two with the consideration that the two entities are engaged in
Pondok Pucung, Pondok Aren, South Tangerang 15229 the same industry. In this case, CNAF acted as the recipient of the
Tel. : +6221 2788 1800 merger after first obtaining approval from the Financial Services
Fax. : +6221 2788 1900 Authority (OJK) on 19 November 2015. This Corporate Action was later
Call Center : 0804 1 090909 approved by CNAF’s Extraordinary General Meeting of Shareholders
E-mail : info@cnaf.co.id (GMS) on 23 December 2015 and was registered. On the Company
Website : www.cnaf.co.id Register of the Ministry of Law and Human Rights of the Republic
of Indonesia on 23 December 2015. The merger between CNAF and
KITAF became effective as of 1 January 2016.

In 2020, CNAF made a logo change from “CIMB Niaga Auto Finance” to
the “CIMB Niaga Finance” logo to expand its business scope so that it
does not focus on just four-wheeled vehicle financing.
On 1 October 2020, the office address changed to the Bintaro area,

South Tangerang.
Board of Commissioners
President Commissioner : Lani Darmawan
Commissioner : Koei Hwei Lien
Independent Commissioner : Serena Karlita Ferdinandus
Independent Commissioner : Hidayat Dardjat Prawiradilaga
Board of Directors
President Director : Ristiawan
Director : Danis V. Bimawan
Director : Kurniawan Kartawinata
Director : Antonius Herdaru D.
Director : M. Imron Rosyadi Nur
CIMB Niaga Sekuritas Profile:

In mid-2017, CIMB Group Holdings Berhad (“CIMBGH”) announced
that a wholly owned subsidiary of CIMBGH had entered into a
share sale and purchase agreement with China Galaxy International
Financial Holdings Limited (“CGIFHL”). CIMBGH and CGIFHL then
formulated a strategic partnership for the securities brokerage
business unit of CIMBGH.
Name: Based on the agreement, the business unit in the form of Investment
PT CIMB Niaga Sekuritas Banking at CIMBGH is regionally separated from the scope of
strategic partnerships. In relation to this, CIMBGH carried out an
Date of Establishment: internal reorganization of all Investment Banking business units in all
12 March 2018 of its business areas, including those in Indonesia. The Investment
Banking business unit in Indonesia is covered by a new entity, namely
Legal Basis of Establishment: PT CIMB Niaga Sekuritas, established in 2018 and currently owned by
Deed No. 26 made by Ashoya Ratam, S.H., M.Kn., Notary domiciled CIMB Niaga as the majority and/or controlling shareholder of 94.78%
in the Administrative City of South Jakarta which has been ratified of the company’s total paid-up and issued capital.
based on the Decree of the Minister of Law and Human Rights of the
Republic of Indonesia No. AHU-0021378.AH.01.01.TAHUN 2018 dated PT CIMB Niaga Sekuritas obtained a license to operate a securities
20 April 2018 and has been announced in the State Gazette of the company as an Underwriter from the OJK on 11 March 2019. Then,
Republic of Indonesia No. 14173 of 2018, Supplement to the State obtained permission from the OJK to carry out other activities, namely
Gazette of the Republic of Indonesia No. 69 dated 28 August 2018. as: 1. Financial Advisor to parties other than issuers since 21 May
2019; 2. Arranger for Medium Term Noted and Negotiable Certificate
Line of Business: of Deposit on 13 September 2020; and 3. Arranger of Commercial
Securities Company (Underwriter) Securities (SBK) as of 30 January 2020.
Address: Currently, PT CIMB Niaga Sekuritas runs its business by focusing on

Graha CIMB Niaga 28th Floor securities underwriting and financial advisory services.
Jl. Jend. Sudirman Kav. 52-53, South Jakarta 12190
Tel. : +62 21 5084 7847 Board of Commissioners
Fax. : +62 21 5084 7849 President Commissioner : Frans Rahardja Alimhamzah*
E-mail : corsec@cimbniaga-ibk.co.id Commissioner*** : Jefferi Mahmud Hashim**
Independent Commissioner : Achiran Pandu Djajanto
Vision: *) Has resigned effective as of 19 August 2020.
To become a leading ASEAN company and a major player in the **) Appointed as President Commissioner of the Company effective as of 6 January 2021.
Chialmi Dialdestoro Rosalim was appointed as Commissioner of the Company effective as of
***)
underwriting market and financial advisor to the Indonesian capital 6 January 2021.
market.
Board of Directors
Mission: President Director : Harry Maryanto Supoyo
To be consistent in providing the right capital market products and Director : Yuga Nugraha
the best services in enhancing the quality of customer value through Director : Martin Batara Simorangkir
the creation of innovative capital market products that aim to attract Director : I Wayan Gemuh Kertaraharja
investors, by leveraging the large and experienced CIMB Group

network.

LIST OF BUSINESS
PARTNERSHIPS
Facing business competition in today’s increasingly competitive digital era and to support optimal and sustainable
growth of the Bank’s performance, CIMB Niaga collaborates with various business partners both at home and abroad.
The cooperation is aimed at increasing the resilience, competitiveness and efficiency of the Bank in achieving the targets
set in the Bank’s Business Plan. The various forms of partnerships undertaken by the Bank to provide financial services
and various options for access to the best transactions for customers by the end of 2020 are as follows:
1. Bancassurance product partnerships of Sun Life, Sompo, AIA, and CIGNA by utilizing the network and customers as
the target market;
2. Mutual fund product marketing partnerships with leading investment managers in Indonesia;
3. Network and card partnerships include VISA, Master, and JCB. This partnership is carried out to expand the coverage
of the Bank’s card-based product network. From the card side, we are also co-branding with Accor and Indosat
Ooredoo;
4. Partnerships with fintech service providers and market places such as Ovo, Tokopedia, Gojek and others to expand
the scope of the Bank’s digital services;
5. Partnership with software licensing providers for various Silverlake applications, this partnership is conducted to
support the Bank’s digital network;
6. Business partnerships in the field of Remittances (money transfers) such as MoneyGram International, Speedsend
CIMB Malaysia; and
7. Other forms of partnerships made by the Bank in order to expand the business and improve the Bank’s performance
in a sustainable manner.

CAPITAL MARKET SUPPORTING

INSTITUTIONS AND PROFESSIONALS
SECURITIES ADMINISTRATION BUREAU NOTARY
PT Bima Registra Kantor Notaris Ashoya Ratam, S.H., M.Kn
Satrio Tower, 9th Floor A2 Jl. Prof. Dr. Satrio Blok C4 Public Notary and Land Titles Registrar for South Jakarta
Kuningan Setiabudi Jakarta 12950 - Indonesia Administrative City
Tel. : +62 21 2598 4818 Jl. Suryo No. 54 Kebayoran Baru Jakarta 12180 – Indonesia
Fax. : +62 21 2598 4819 Tel. : +62 21 2923 6060
Website : www.bimaregistra.co.id Fax. : +62 21 2923 6070
E-mail : notaris@ashoyaratam.com
CUSTODIAN
PT Kustodian Sentral Efek Indonesia RATING AGENCY
Gedung Bursa Efek Indonesia, Tower I, 5th Floor PT Pemeringkat Efek Indonesia (PEFINDO)
Jl. Jendral Sudirman Kav. 52-53 Jakarta 12190 - Indonesia Panin Tower Senayan City 17th Floor,
Tel. : +62 21 515 2855 Jl. Asia Afrika Lot 19 Jakarta 12170 – Indonesia
Fax. : +62 21 5299 1199 Tel. : +62 21 7278 2380
Website : www.ksei.co.id Fax. : +62 21 7278 2370
Website : www.pefindo.com
PUBLIC ACCOUNTANT FIRM
Tanudiredja, Wibisana, Rintis & Rekan (Affiliated with PT Fitch Ratings Indonesia
PriceWaterhouseCoopers in Indonesia) DBS Bank Tower 24th Floor, Suite 2403
WTC 3 Jl. Jend. Sudirman Kav. 29-31 Jl. Prof. Dr. Satrio, Kav. 3-5 Jakarta 12940 – Indonesia
Jakarta 12920 – Indonesia Tel. : +62 21 2988 6800
Tel. : +62 21 5099 2901 Fax. : +62 21 2988 6822
+62 21 3119 2901 Website : www.fitchratings.co.id
Fax. : +62 21 5290 5555
+62 21 5290 5050
Website : www.pwc.com/id
TRUSTEE
PT Bank Permata Tbk
WTC II, 27th Floor, Jl. Jend. Sudirman Kav. 29-31
Jakarta 12920 – Indonesia
Tel. : +62 21 523 7788
Fax. : +62 21 250 0529
Website : www.permatabank.com
CAPITAL MARKET SUPPORTING PROFESSIONAL REGULAR SERVICES IN 2020
Fee
Supporting Professional Service Assignment Period
in million Rupiah (including tax)
Public Accountant Auditing the Consolidated Financial The total annual audit fee for 2020 Financial Year of
Statements for the 2020 Financial Year is Rp9,396 2020
Legal Consultant None None None
Appraiser None None None
Notary None None None
In 2020, the Bank did not have any permanent agreement or contract that refers to a specific/periodic assignment (retainer) in
order to utilize the services of Legal Consultants, Appraisers and Notaries as Capital Market Supporting Professionals.
ACCESS TO BANK DATA AND INFORMATION

Corporate Secretary
Graha CIMB Niaga, 11th Floor
Jl. Jend. Sudirman Kav. 58 Jakarta 12190 - Indonesia
Tel. : +62 21 250 5252, 250 5353
Fax. : +62 21 252 6749
E-mail : corporate.secretary@cimbniaga.co.id
Investor Relations
Graha CIMB Niaga, 11th Floor
Jl. Jend. Sudirman Kav. 58 Jakarta 12190 – Indonesia
Tel. : +62 21 250 5252, 250 5353
E-mail : investor.relations@cimbniaga.co.id

INFORMATION ON
COMPANY WEBSITE
In line with OJK Regulation No. 8/POJK.04/2015 4. Annual financial report (last 5 years) and latest
concerning websites of issuers or public companies, quarterly financial report, each of which can be
CIMB Niaga already has the Bank’s main website, namely accessed on the link: https://investor.cimbniaga.
www.cimbniaga.co.id, and accessible in the Indonesian co.id/publication_financial_report.html and https://
language and English. The site is also intended to fulfill investor.cimbniaga.co.id/financials_quartely.html;
the Bank’s commitment to the implementation of Law 5. Annual Report and Sustainability Report which can be
Number 8 of 1995 concerning the Capital Market and downloaded via the link: https://investor.cimbniaga.
to improve the implementation of good corporate co.id/ar.html and https://investor.cimbniaga.co.id/
governance, especially for shareholders, customers, sustainability_reports.html;
society, government, and other stakeholders. 6. Profiles of the Board of Commissioners and Board of
Directors, which can be accessed via the link: https://
The main CIMB Niaga website has fulfilled the information investor.cimbniaga.co.id/gcg/management_team.
that must be published in accordance with Article 6 of html (including information related to the profiles of
the Financial Services Authority Regulation (POJK) No. 8/ the Sharia Supervisory Board, Corporate Secretary
POJK.4/2015 concerning the Website of Issuers or Public and Senior Executives);
Companies, where the Issuer or Public Company is 7. Charter of the Board of Commissioners, Board of
required to submit the following information: Directors, Committees and Internal Audit Unit, each
1. General Information of Issuers or Public Companies of which can be accessed sequentially at the link:
2. Information for Financers or Investors https://investor.cimbniaga.co.id/misc/BOC/BOC-
3. Corporate Governance Information Charter-2019_Final.pdf, https://investor.cimbniaga.
4. Information on Corporate Social Responsibility co.id/misc/BOD/27092019-PIAGAM-DIREKSI-2019-
FINAL.pdf, https://investor.cimbniaga.co.id/misc/
In addition, the Bank’s website also contains other DPS/PIAGAM-DPS-2018.pdf, https://investor.
specific information including: cimbniaga.co.id/gcg/boc_committees.html, and
1. Shareholder information up to the ultimate individual https://investor.cimbniaga.co.id/misc/governance-
shareholder, which can be accessed on the link: policy/IA-Charter-2019.pdf;
https://investor.cimbniaga.co.id/gcg/shareholding_ 8. Corporate Governance Policy, which can be accessed
structure.html and https://investor.cimbniaga.co.id/ via a link: https://investor.cimbniaga.co.id/misc/
gcg/group.html; governance-policy/2020/Summary-Kebijakan-Tata-
2. Code of Ethics & Employment Conduct, which can be Kelola.pdf; and
accessed on the link: https://investor.cimbniaga.co.id/ 9. Briefing material for analysts and the media, which
misc/governance-policy/Kode-Etik-dan-Perilaku- can be accessed via a link: https://investor.cimbniaga.
Kepegawaian-2019.pdf; co.id/slides.html.
3. Information on the General Meeting of Shareholders 10. The Bank’s achievements and prospects, contained in
(GMS) includes the agenda items discussed in the the Bank’s Annual Report, can be downloaded via the
GMS, summary of the minutes of the GMS, and https://investor.cimbniaga.co.id/ar.html;
important date information, namely the date of the 11. The Bank shares, accessible via https://investor.
announcement of the GMS, the date of the invitation cimbniaga.co.id/stock_chart_interactive.html;
to the GMS, the date of the GMS, the date of the 12. Publications of financial performance and financial
summary of the minutes of the GMS announced, position, accessible via https://investor.cimbniaga.
which can be accessed on the link: https://investor. co.id/home.html; and
cimbniaga.co.id/gcg/agm.html in relation with Annual 13. Awards and Certifications, accessible via https://
GMS and https://investor.cimbniaga.co.id/gcg/egm. investor.cimbniaga.co.id/misc/Award-ID.pdf.
html in relation with Extraordinary GMS;

In line with POJK No. 8/POJK.4/2015, the CIMB Niaga

website is regularly updated with important information,
including:
1. Home
Contains various information on the Bank’s products
and services for customers including Digital Banking
services and CIMB Niaga’s promotion programs, which
are presented on the main website www.cimbniaga.
co.id. The homepage also provides information on
the latest offers, foreign exchange rates, the latest 4. Corporate Governance
news & information as well as the announcements. In This GCG Homepage contains complete information
addition, the Career and About Us bar menu can be regarding CIMB Niaga’s Corporate Governance
accessed directly from the Homepage. with the menu bar options About Us, Management,
GMS, GCG Structure, GCG Report, ASEAN Corporate
Governance Scorecard, Disclosure, and Other
Information, which can be accessed on the microsite
integration investor.cimbniaga.co.id. Through this
GCG Homepage, the public can find out information
about the GCG practices that have been carried out
by CIMB Niaga, as below:
a. About Us: CIMB Niaga at a Glance; Vision and
Mission of the Bank; Share Ownership Structure
and Organizational Structure; Company Group
Structure; Affiliated Companies; Ranking;
2. About Us Appreciation; Sharia Business Unit and Contact
This menu bar contains a selection of general Us (name, address, contact number and e-mail as
information regarding Investor Relations, Corporate well as head office website).
Governance and CIMB Niaga Cares which can be b. Management: Management Team Profile;
accessed directly through the microsite integration Other information related to the Board of
investor.cimbniaga.co.id. This page also contains Commissioners and Board of Directors of the
information about the Company’s history, milestone, Bank (such as supervisory reports, charters,
activities and business licenses of the Bank. meeting schedules, selection criteria & process,
development programs, remuneration policies,
3. Investor Relations and others); Sharia Supervisory Board Report and
This menu bar contains choices of Financial Charter (DPS); Information related to the Bank’s
Information, Dividend Information, Stock/Bond Corporate Secretary and the Bank’s Internal
Information, News & Events and Information Audit; Share Transactions by Management; and
Requests which can be accessed through the Declaration of Integrity Pact, Code of Ethics and
microsite integration investor.cimbniaga.co.id. Anti-Corruption Commitment.
Several important reports such as: Annual Reports, c. General Meeting of Shareholders (GMS): Annual
Sustainability Reports, Consolidated Financial GMS and Extraordinary GMS of the Bank.
Reports, Quarterly Financial Reports, Monthly d. GCG Structure: Board of Commissioners
Financial Reports, and other related information Committee; Board of Directors Committee,
can be accessed in the Financial Information menu Committee Performance Evaluation; Corporate
option. Governance Policies and Charter; GCG &
Sustainability Unit.

e. GCG Report: Corporate Governance 5. CIMB Niaga Care (CSR)

Implementation Report; Sustainability Contains information about the practice of the
Report; Results of GCG Self-Assessment and 4 (four) pillars of Corporate Social Responsibility
Implementation of Corporate Governance (CSR) that CIMB Niaga has carried out, namely
Guidelines for Public Companies. Education (Education), Community Development and
f. ASEAN Corporate Governance Scorecard (ACGS): Empowerment, Environment and Philanthropy, as
ACGS Assessment CIMB Niaga. well as the Sharia Business Unit Qardhul Hasan Fund
g. Disclosure: Investor News and Press Releases of and Contact Us CSR.
CIMB Niaga.
h. Other Information: Capital Market Supporting
Institutions and AML-CFT.

EDUCATION AND/OR TRAINING OF THE BOARD OF

COMMISSIONERS, BOARD OF DIRECTORS, COMMITTEES,
CORPORATE SECRETARY AND INTERNAL AUDIT UNIT
EDUCATION AND/OR TRAINING OF THE BOARD OF COMMISSIONERS

Throughout 2020, members of the CIMB Niaga Board of Commissioners participated in various competency improvement
programs in the form of training, workshops, conferences and seminars, as shown in the following table:
Name Title Training/Workshop/Conference/Seminar Organizer Time and Place

Didi Syafruddin President Outlook 2020 JP Morgan 21 January 2020
Yahya* Commissioner Malaysia
Briefing on RAROC, Capital, FRS 9 CIMB Group 18 February 2020

Malaysia
RAROC, FRS 9 (PSAK 71) CIMB Group 28 February 2020
Jakarta
Digital Banking – Why does it matter FIDE 18 March 2020
Online
FIDE Forum COVID-19 and The Current Economic FIDE 14 April 2020
Reality Implication for Financial Stability Online
FIDE Forum Outthink the Competition: Excelling in FIDE 5 May 2020
a Post COVID-19 World Online
FIDE Forum Challenging Times: FIDE 15 May 2020
What Role Must the Board Play Online
Cambridge-INET Mitigating Macroeconomic Cambridge Net 15 May 2020
Impact COVID Economics Online
Cambridge-INET Mitigating Macroeconomic Cambridge Net 29 May 2020
Impact COVID Economics Online
Annual Dialogue with Governor of Bank Negara Bank Negara 3 September 2020
Malaysia Malaysia Online
Risk Posture Workshop CIMB Group 4 September 2020
Online
The Cooler Earth Sustainability Summit 2020 CIMB Group 8 September 2020
(Why is Time to Rethink the Triple Bottom Line, Online
Sustainability Post COVID-19)
(Nature Education) Taman Tugu, Kuala
Lumpur
Glenn M.S. Vice President Risk Management Competency for Banking BARA 17 June 2020
Yusuf** Commissioner Profession – Level 2 Commissioner Jakarta
(Independent)
Certifications Risk Management Level 2 LSPP 10 July 2020
Jakarta
Online
Jeffrey Kairupan Independent 2020 Financial Services Industry Annual Meeting OJK 16 January 2020
Commissioner*** Jakarta
Risk Management Certification Refreshment BSMR 29 January 2020
Graha CIMB Niaga,
Jakarta
Panel Discussion: Chaotic Various Cases of Indonesia Institute 14 February 2020
Financial Statement Manipulation of Audit Committees Jakarta
Refreshment RAROC & IFRS 9 CIMB Group 28 February 2020
Jakarta
Workshop Design Thinking for Bankers: Strategy Infobank 9 June 2020
to Face the New Normal Online


Panel Discussion - Agile Auditing: Audit Committee The Institute of Ia 22 June 2020
Partnership with Internal Auditors in Responding Indonesia (IKAI) Online
to Disruption
Online
(Profit with a Purpose) Online
Recovery Look Like in International Sector PWC South East Asia 9 September 2020
Consulting Online
GCEO TownHall CIMB Group 22 September 2020
Online
The Age of Digital Transformation: Enabling IICD 19 November 2020
Organization with Artificial Intelligence During the Online
Market Transitions
New World, New Risk. Integrated Risk Approach in Deloitte 23 November 2020
a World Remade by COVID-19 Online
Sri Widowati Independent Refreshment RAROC & IFRS 9 CIMB Group 28 February 2020
Commissioner Jakarta
Online
GCEO TownHall CIMB Group 22 September 2020
Online
Leadership Workshop for the Digital Squad Unilever 6 November 2020
Online
RCU Leadership Training “How to Manage Risk CIMB 17 November 2020
While Working Virtually” Online
Dato’ Abdul Commissioners ASEAN Central Bank Governors & Financial ASEAN Bankers 2 October 2020
Rahman Institutions CEO’s Dialogue Association and Online
Ahmad**** Vietnam Banks’
Association
AML/CFT & TFS: Compliance – A Need To Protect CIMBGH 8 October 2020
Business by Vijayaraj R. Kanniah Online
CIMB Thai Board of Directors’ training: CIMB Thai 15 October 2020
New Director Orientation Session Online
5th CIMB Group Supervisory College Bank Negara 19 November 2020
Malaysia Online
APEC CEO Dialogues 2020 APEC Business 19 November 2020
Advisory Council Online
Petronas - Resilience and Sustainability Amidst A KLBC 30 November 2020
Challenging Environment with President & Group Online
CEO Petronas
Agriculture In The Age Of Climate Transitions Orbitas 1 December 2020
Online
Risk Management Competency for Banking BARA 1 December 2020
Profession - Level 1 Commissioner Online
Sustainability Leadership Training UNEP FI & WWF 2 December 2020
Online
Bank CEOs’ Conference JP Morgan 3 December 2020
Online
Post-Budget Dialogue with YB Minister of Finance KLBC 7 December 2020
Malaysia Online
Security Awareness Programme by FireEye CIMGBH 10 December 2020
Online


Security The Next Normal by CAT Telekom PCL CIMB Thai 16 December 2020
Online
Certifications Risk Management Level 1 LSPP 28 December 2020
Online
David Richard Commissioner Risk Playbook Town Hall with Singapore Risk Team CIMB Group 8 January 2020
Thomas Singapore
Briefing to Bank Negara Malaysia on Non-Retail Bank Negara 9 January 2020
Credit Risk Management Malaysia (BNM) BNM
Board of Directors Teach-In Session - RAROC, CIMB Group 18 February 2020
Capital, RWA & FRS9 Malaysia
Group CEO’s Town Hall CIMB Group 2 March 2020
Malaysia
Group Risk (Malaysia) Town Hall CIMB Group 8 April 2020
Online
Sharing Session with McKinsey: COVID-19 Mckinsey And 17 April 2020
Implications Company Inc. Online
(Malaysia)
Group Risk (Malaysia) Town Hall CIMB Group 27 April 2020
Online
Webinar: Conversations with YBM Senator Tengku CIMB Group 6 May 2020
Dato’ Sri Zafrul Tengku Abdul Aziz, Minister of Online
Finance, Malaysia
Institute of International Finance - Asia Pacific CRO Institute of 15 May 2020
Forum International Online
Finance (IIF)
Group Risk (Malaysia) Town Hall with Regional CIMB Group 15 May 2020
Head, Non-Financial Risk Management Online
Heads, Retail Risk & Market Risk Online
Head, Asset Liability Management Online
Western Transportation Advisory Council Western 9 June 2020
Research Interview [on behalf of the Secretariat of Transportation Online
Asia-Pacific Economic Cooperation (APEC)] Advisory Council
Westac
Malaysia Deep Dive CIMB Group 18 June 2020
Malaysia
Group Risk (Malaysia) Town Hall - Machine CIMB Group 27 July 2020
Learning 101 Online
Group Risk (Malaysia) Town Hall – COVID-19 Pulse CIMB Group 13 August 2020
Survey Results Sharing Session Online
Group Risk Town Hall with GCEO, CIMB Bank CIMB Group 2 September 2020
Online
2020 Risk Posture Workshop with Combined CIMB Group 4 September 2020
Boards Online
Risk Function of the Future Oliver Wyman 9 September 2020
Online
GEXCO Onsite (Day 1) CIMB Group 10 September 2020
Online
GEXCO Onsite (Day 2) CIMB Group 11 September 2020
Online
GCEO Town Hall with Leadership Team CIMB Group 14 September 2020
Online
Group Risk (Virtual) Onsite CIMB Group 18 September 2020
Online


Moody’s Analytics Synergy 2020 Virtual Moody’s Analytics 24 November 2020
Conference Online
Sustainability Leadership Training 2020 CIMB Group 2 December 2020
Kuala Lumpur,
Malaysia
Moody’s Inside ASEAN: Indonesia I Credit After Moody’s Analytics 10 December 2020
COVID: Riding the Storm Kuala Lumpur,
Malaysia
Anti-Money Laundering (AMLA)/Counter Financing CIMB Group 16 December 2020
Terrorism Kuala Lumpur,
Malaysia
Data Protection CIMB Group 16 December 2020
Kuala Lumpur,
Malaysia
Information Security Awarness (ISA) CIMB Group 16 December 2020
Kuala Lumpur,
Malaysia
Business Continuity Management (BCM) CIMB Group 16 December 2020
Awareness Kuala Lumpur,
Malaysia
Gametize Module: Digital Marketing CIMB Group 28 December 2020,
Kuala Lumpur,
Malaysia
Gametize Module: Social Media CIMB Group 28 December 2020,
Kuala Lumpur,
Malaysia
Gametize Module: Fintech & Blockchain CIMB Group 28 December 2020,
Kuala Lumpur,
Malaysia
*)
Appointed at the AGM on 9 April 2020 and effective as of July 7, 2020
**)
Appointed at the AGM on 9 April 2020 and effective as of 16 September 2020
***)
Appointed as a Senior Independent Commissioner of the Bank through the Circular Resolution of the Board of Commissioners of CIMB Niaga No. 014/DEKOM/KP/
VI/2019 as of 28 June 2019
****)
Appointed at the EGM on 25 September 2020 and effective upon obtaining OJK approval and/or fulfilled the requirements as determined in the OJK approval
BOARD OF DIRECTORS EDUCATION AND/OR TRAINING

Throughout 2020, members of the CIMB Niaga Board of Directors participated in various competency improvement

Tigor M. Siahaan President Director Inside the Boardroom, Sampoerna Young President 12 February 2020
Organization (YPO) Jakarta
International
Webinar on People Priorities in Response to Boston Consulting 2 April 2020
COVID-19 Group (BCG) Online
How to Deal with Economic Impacts of COVID-19 Young President 20 April 2020
Organization (YPO) Online
International
Business Wisdom During COVID-19 Era – Mochtar Jakarta CMO Chief 14 May 2020
Riady Marketing Officer Online
Club
Indonesia Beyond the Peak UBS AG 19 May 2020
Online
Becoming a PEAK Leader UBS AG 21 May 2020
Online


That was That. Now What – Webinar The Fasttrack 09 June 2020
Online
WHY/LEADERS/PLAY with Heath Slawner from Young President 10 June 2020
Simon Sinek Inc Organization (YPO) Online
International
Future Opportunities Workshop in New Realities Boston Consulting 18 June 2020
Group (BCG) Online
The only Way out with Sadguru Young President 24 June 2020
International
In Conversation with Lance Armstrong Young President 2 July 2020
International
A Fireside Chat with Bapak Airlangga Hartarto Young President 23 July 2020
International
Innovation, the Internet of Things (IoT), and the Young President 4 August 2020
Digital Co-Tranformation Organization (YPO) Online
International
The Secret Weapon for Challenging Times: The Young President 4 August 2020
Team at the Top Organization (YPO) Online
International
Imagining the Next Global Economy: Scenarios for Young President 5 August 2020
Recovery and Transformation Organization (YPO) Online
International
Five Rules for Leading in the Digital World Young President 6 August 2020
International
The Digital Transformation Ecosystem Young President 10 August 2020
International
Work. Mate. Marry. Love. How Machines Shape Young President 12 August 2020
Our Human Destiny Organization (YPO) Online
International
Cultivating Creativity in Your Organization Young President 13 August 2020
International
Survive & Thrive in Pandemic Economic Young President 15 August 2020
Turbulence From Banker’s Perspective Organization (YPO) Online
International
“Fear is Fuel” – The Surprising Power To Help You Young President 18 August 2020
Find Purpose, Passion and Performance Organization (YPO) Online
International
Realizing MSMEs as New Strengths for the BI Governor and 30 August 2020
National Economy; The Synergy of the MSME Coordinating Online
Transformation Program to Enter the Digital Minister for
Ecosystem Maritime Affairs
Venture Philanthropy: Addressing Dengue in Young President 15 September 2020
Indonesia Organization (YPO) Online
International
The Future of Humans: Plenary Session UBS Singapore 29 September 2020
Online
Indonesia Real Estate Market Overview | Re- JLL 14 October 2020
imagining what’s next for the office market Online
Learning to Live With COVID-19: Lessons From Young President 3 November 2020
Garuda Indonesia Airlines & ISS Organization (YPO) Online
International


YPO Southeast Asia FY21:Q2 Regional Board Young President 5 November 2020
Meeting and Leadership Conference Organization (YPO) Online
International
IFSoc Launching/Diskusi Publik – Peranan Fintech Indonesia Fintech 9 November 2020
dalam Pemulihan Ekonomi Nasional Society Online
IDX – CEO Networking 2020 “Building Resilience to IDX 24 November 2020
Economic Recovery” Online
YPO Fireside Chat with the new US Ambassador Young President 17 December 2020
International
Lee Kai Kwong Strategy, Finance & Future Opportunities Workshop in New Realities Boston Consulting 18 June 2020
SPAPM Director Group (BCG) Online
John Simon Treasury & Capital Risk Management Certification Refreshment BSMR 29 January 2020
Market Director Graha CIMB Niaga,
Jakarta
Group (BCG) Online
Vera Handajani Risk Management Beyond Sustainable - Bridging the Gap to Fruitful Business 13 February 2020
Director Sustainable Development Goals 2020 Hotel Mulia Senayan,
Jakarta
Business Learning Session Bank 19 February 2020
Graha CIMB Niaga,
Jakarta
Business Learning Session Bank 28 February 2020
Graha CIMB Niaga,
Jakarta
Assessing the economic impact of the COVID-19 Moodys 5 March 2020
Virus under alternative scenarios Online
People Priorities in Response to COVID-19 Boston Consulting 2 April 2020
Group (BCG) Online
CEO Zoom Call to Discuss & Share Experiences BCG Egon Zehnder 6 April 2020
Related to the COVID-19 Pandemic & How to Online
Respond
Behind the negative outlooks on APAC Banking Moodys 7 April 2020
System Online
The Impact of Coronavirus on Indonesia Credit Fitch Ratings 8 April 2020
Online
Blockchain & Bitcoin Kellog Hkust 24 April 2020
Online
The Lazy Man Bond Portfolio Kellog Hkust 16 May 2020
Online
The Pandemic, Debt, and Global Macroeconomics Kellog Hkust 26 May 2020
Online
Group (BCG) Online
Cyber resilience COVID-19 response and the New Oliver Wyman 24 June 2020
Normal - Learning & Predictions Online
Risk Culture Lunch & Learn Bank 20 July 2020


Lani Darmawan Consumer Banking Risk Management Certification Refreshment BSMR 29 January 2020
Director Graha CIMB Niaga,
Jakarta
IFRS9 & RAROC PWC 28 February 2020
Business Learning Session Bank 11 May 2020
Online
APPI Multifinance Road to Recovery APPI 1 October 2020
Online
Pandji P. Sharia Banking Opportunities of Halal Business and Muslim Limitless 20 January 2020
Djajanegara Director Communities in Indonesia CIMB Niaga Icon
Pondok Indah,
Jakarta
Graha CIMB Niaga,
Jakarta
Leadership Transformation Leadership Journey - Deloitte 31 January 2020
Innovation Transformation Lab Cohort 2 Graha CIMB Niaga,
Jakarta
Anti Fraud Awareness for Sharia Banking Bank 29 February 2020
CIMB Niaga Icon
Pondok Indah,
Jakarta
Leadership Transformation Leadership Journey - Deloitte 3 March 2020
Innovation Transformation Lab Cohort 4 Graha CIMB Niaga,
Jakarta
International Webinar Series 7th Indonesia Sharia IAEI 9 September 2020
Economic Festival (ISEF) 2020 Online
Fransiska Oei Compliance, Compliance Level 3 Workshop and Certification FKDKP 22 January 2020
Corporate Affairs & (Executive) Financial Club,
Legal Director Jakarta
Graha CIMB Niaga,
Jakarta
Empowering Board Leadership in Cyber Security: Lembaga Komisaris 27 February 2020
Your Cyber Decision Matters Direksi Financial Club,
Jakarta
Sustainability Finance: Governance & Reporting Banker Association 13 March 2020
of Risk Management Sheraton Hotel
Gandaria City,
Jakarta
BCG Webinar on People Priorities in Response to Boston Consulting 2 April 2020
COVID-19 Group (BCG) Online
PEN Program Socialization Perbanas Insttitute 05 June 2020
Zoom
Tjioe Mei Tjuen* Operations & Transformation of Banking Operations in Digital Bank Indonesia 25 – 26 November
Information Era 2020
Technology Online
Director
*)
Appointed at the AGM on 9 April 2020 and effective as of 3 November 2020

SHARIA SUPERVISORY BOARD EDUCATION AND/OR TRAINING

Throughout 2020, members of the CIMB Niaga Sharia Supervisory Board Participated in various competency
improvement programs in the form of training, workshops, conferences and seminars, as shown in the following table:

Prof. Dr. M. Chairman Pre-Ijtima’ Sanawi Workshop (Annual Meeting) DSN-MUI 12 – 13 October
Quraish Shihab, Sharia Supervisory Board for Islamic Banking 2020
MA Sector Online
Ijtima’ Sanawi (Annual Meeting) of the Sharia DSN-MUI 5 – 6 November
Supervisory Board (DPS) in 2020 with the theme 2020
“Contribution of Sharia Economics in National Online
Economic Recovery”
Prof. Dr. Member Pre-Ijtima’ Sanawi Workshop (Annual Meeting) DSN-MUI 12 – 13 October
Fathurrahman Sharia Supervisory Board for Islamic Banking 2020
Djamil, MA Sector Online
Dr. Yulizar D. Member Risk Management Certification Refreshment BSMR 16 April 2020
Sanrego, Online
M.Ec
Pre-Ijtima’ Sanawi Workshop (Annual Meeting) DSN-MUI 12 – 13 October
Sharia Supervisory Board for Islamic Banking 2020
Sector Online
AUDIT COMMITTEE EDUCATION AND/OR TRAINING

Throughout 2020, members of the CIMB Niaga Audit Committee participated in various competency improvement
Name Position Training/Workshop/Conference/Seminar Organizer Time and Place

Jeffrey Kairupan Chairman – Training/Workshop/Conference/Seminar data are listed in the Board of Commissioners Education
Independent and/or Training Table in this Annual Report.
Commissioner
Endang Member – Integrating Risks Into Strategy and Performance: The Institute of 14 April 2020
Kussulanjari S. Independent Party Update on 3LoD and COSO ERM 2017 Internal Auditors Online
Indonesia (IIA)
Agile Auditing: Audit Committee’s Partnership with The Institute of 22 June 2020
Internal Auditors in Responding to Disruption Internal Auditors Online
Indonesia (IIA)
IRMAPA Online Panel Discussion “Three Lines as a The Institute of 25 June 2020
Catalyst for Business Recovery in the New Normal Internal Auditors Online
Era” Indonesia (IIA)
Seminar on Building Indonesia’s Digital Economy Bank Indonesia 2 July 2020
and Finance in 2025 with the theme of Creating a Online
Blue Print for Indonesia’s 2025 Payment System to
Realize Indonesia’s Digital Economy and Finance
in 2025
From Data to Insight: Sharing Experience The Institute of 13 July 2020
Generating From Data Analytics and Visual Internal Auditors Online
Storytelling Indonesia (IIA)
Easy Ways to Learn Accounting with the Case IPMI International 24 July 2020
Study Method Business School Online


Accelerating Economic Recovery Through Financial OJK 24 August 2020
Technology Innovation Online
Effective Banking Supervision in Digital Era OJK 18 September 2020
Online
3 Lines Method: Challenges and Realities of IIA Indonesia, IAMI, 29 September 2020
Application in Indonesia dan ACFE Indonesia Online
Chapter
Challenges & Solutions to Build Competitive KPCPEN,Kominfo & 14 November 2020
Human Resources During and Post Pandemic Siberkreasi Online
Building a Healthy, Productive Culture, Adapting KPCPEN,Kominfo & 16 November 2020
New Habits in Family Siberkreasi Online
Leadership in Crisis: Surviving and Awakening in KPCPEN,Kominfo & 20 November 2020
the Pandemic Era Siberkreasi Online
2020 IIA Indonesia National Conference: The Institute of 2 December 2020
Enhancing Communication and Collaboration: Internal Auditors Online
Learning from the Pandemic Indonesia (IIA)
Ronald T. A. Member – Alternative Credit Scoring Asosiasi Fintech 20 May 2020
Kasim Independent Party Indonesia Online
Credit Relaxation Program during the COVID-19 Asosiasi Fintech 27 May 2020
Pandemic Pendanaan Bersama Online
Indonesia
2020 National IIA Indonesia Conference The Institute of 2 December 2020
Internal Auditors Online
Indonesia (IIA)
NOMINATION AND REMUNERATION COMMITTEE EDUCATION AND/OR TRAINING

Throughout 2020, members of the CIMB Niaga Nomination and Remuneration Committee participated in various
competency improvement programs in the form of training, workshops, conferences and seminars, as shown in the
following table:

Sri Widowati Chairman -
Independent
Commissioner
Glenn Member - Vice
Muhammad President Training/Workshop/Conference/Seminar data are listed in the Board of Commissioners Education
Surya Yusuf Commissioner and/or Training Table in this Annual Report.
(Independent)
Didi Syafruddin Member -
Yahya President
Commissioner
Joni Raini Member - Senior CIMB-INSEAD Leadership Programme Cohort 8 CIMB Group 16 – 17 January
Executive in charge Capstone 2020, Kuala Lumpur,
of HR functions Malaysia
Human Capital in the Indonesian Banking MERCER 30 April 2020
Industry: How Companies Respond to COVID-19 in Online
Financial Services
Level 4 Risk Management Certification Program GPS & Partners 23 September 2020
Online


CIMB Niaga Senior Leaders Meeting: Future BCG 18 June 2020
Opportunities Workshop in New Realities Online
CIMB The Cooler Earth Sustainability Summit: CIMB Group 24 September 2020
Managing Change for Sustainability Online
CIMB The Cooler Earth Sustainability Summit: CIMB Group 9 October 2020
Understanding the Financial Impacts of Climate Online
Change
RISK OVERSIGHT COMMITTEE EDUCATION AND/OR TRAINING

Throughout 2020, members of the CIMB Niaga Risk Monitoring Committee participated in various competency

Glenn Chairman -
Muhammad Vice President
Surya Yusuf Commissioner
(Independent)
Training/Workshop/Conference/Seminar data are listed in the Board of Commissioners Education
Didi Syafruddin Member -
and/or Training Table in this Annual Report.
Yahya President
Commissioner
David Richard Member -
Thomas Commissioner
Firmanzah* Member - Urban Regeneration Seminar (as resource person) UPM-BPSDM 28 January 2020
Independent Party Universitas
Paramadina, Jakarta
One Day Seminar - Corruption Prevention in the UPM-IGCN-Provit- 18 February 2020
Natural Resources Sector (as resource person) Ford Foundation Jakarta
National Seminar - Implementation of MPR Decree Fraksi Partai Golkar 19 February 2020
Number XVI/MPR/1998 concerning Political Gedung Nusantara
Economy in the Context of Economic Democracy IV (Pustakaloka),
in accordance with Government Policy through Jakarta
Omnibus Law (as resource person)
Anti-Corruption Summit Proposal Selection 4 KPK 5 – 22 June 2020
Online
Virtual Leader’s Summit – How Business Adapting IGCN-UN 15 – 16 June 2020
to the New Normal-Leading By Example in This Online
Time of Disruption
Panel Discussion - LX Regular Education Program Lemhanas RI 17 June 2020
(PPRA) 2020 Online
FGD of the MPR Review Board (as resource MPR RI 29 June 2020
person) Online
National Defense Agency (Lemhanas) Regular Lemhanas RI 5 August 2020
Training Program Batch LXI Online
Sri Indrastuti Member – Economic Outlook 2021 PT Indexim Coalindo 11 December 2020
(Tuti) S. Independent Party Online
Hadiputranto
*)
Passed away on 6 February 2021

INTEGRATED GOVERNANCE COMMITTEE EDUCATION AND/OR TRAINING

Throughout 2020, members of the CIMB Niaga Integrated Governance Committee participated in various competency

Jeffrey Kairupan Chairman - Training/Workshop/Conference/Seminar data are listed in the Board of Commissioners Education
Independent and/or Training Table in this Annual Report.
Commissioner
Endang Member - Training/Workshop/Conference/Seminar data are listed in the Audit Committee Education and/or
Kussulanjari S. Independent Party Training Table in this Annual Report.
Serena K. Member - 3 Lines Method: Challenges and Realities of The Institute of 29 September 2020
Ferdinandus Independent Application in Indonesia Internal Auditors Online
Commissioner of (IIA), Institut
CIMB Niaga Auto Akuntan Manajemen
Finance Indonesia (IAMI),
Association of
Certified Fraud
Examiners (ACFE)
Indonesia
Multifinance Road to Recovery (for Director, Asosiasi Perusahaan 1 October 2020
Commissioner, Controlling Shareholder, Sharia Pembiayaan Online
Supervisory Board) Indonesia (APPI)
The Role of Internal Auditor In Building Business Institute of Internal 20 November 2020
Resilience Auditors Indonesia Online
(IIA)
Dr. Yulizar Member - Member Training/Workshop/Conference/Seminar data are listed in the Sharia Supervisory Board
Djamaluddin of the Sharia Education and/or Training Table in this Annual Report.
Sanrego, M.Ec. Supervisory Board
Achiran Pandu Member - Internal Discussion (Refreshing) on Teaching Lembaga Komisaris 15 September 2020
Djajanto Independent Party Materials Direksi Indonesia Jakarta
(LKDI)
Economic Indicators for Professionals in Risk Universitas IPB 10 November 2020
Management Online
Corruption Does Not Stop Amid the Pandemic Internal Audit 19 December 2020
Education Online
Foundation
CORPORATE SECRETARY EDUCATION AND/OR TRAINING

Throughout 2020, the Corporate Secretary of CIMB Niaga, Fransiska Oei, who is concurrently Compliance, Corporate
Affairs & Legal Director participated in various competency improvement programs in the form of training, workshops,
conferences and seminars, as listed in the Board of Directors Education and/or Training Table in this Annual Report.
INTERNAL AUDIT WORK UNIT (IA) EDUCATION AND/OR TRAINING

Throughout 2020, CIMB Niaga’s IA has participated in various competency improvement programs in the form of
training, workshops, conferences and seminars, as shown in the following table:

Antonius Chief Audit
As Participant
Pramana Gunadi Executive
29 January 2020
RCU/DCORO Forum: Analysis Process for
CIMB Niaga Graha CIMB Niaga,
Suspicious Financial Transaction Alerts
Jakarta
Leading Your Business in Uncertain Times Tableau 6 May 2020
Online


IAIB Obladida: Debt Restructuring & Business Ikatan Auditor Intern 8 June 2020
Recovery in the time of COVID-19 Bank (IAIB) Online
Resilience In Turbulence Ikatan Alumni (IKA) 9 June 2020
FEB UNTAR Online
COVID-19 Recover and Thrive Deloitte 17 & 24 June 2020
Online
Cyber Resilience Oliver Wyman 24 June 2020
Online
Executive Education: Business Analytics - From Wharton 25 June -
Data to Insights 2 September 2020
Online
Learning Series: Cultivate Your Critical and Gartner 16 July 2020
Analytical Thinking Skills (APAC) Online
Annual Executive Retreat for Audit Leaders Gartner 28 July 2020
Online
Webinar GRC Integrated in Digital Era: OJK 28 July 2020
Opportunities & Challenges Online
Tableau Conference: Experience Data for All Tableau 7-9 October 2020
Online
Webinar: Solving the Audit Skills Mismatch - Gartner 21 October 2020
Getting to Data Driven Insights (APAC) Online
2020 National IIA Indonesia Conference Institute of Internal 2 – 3 December 2020
Auditors Indonesia Online
(IIA)
As Speaker/Panelist
Data analytics from the perspective of internal Swiss German 2 April 2020
auditing University Online Online
Lecture
Remote auditing and keeping your audit effective Ikatan Auditor Intern 30 April 2020
during COVID-19 Bank (IAIB) Online
Data science Ikatan Auditor Intern 7 May 2020
Bank (IAIB) Online
How CIMB Niaga Excels Z and Millennials Growth Talk Inc 8 July 2020
Online
From data to insight: Sharing experience Ikatan Internal Auidt 13 July 2020
generating insight from data analytics and visual (IIA) Malaysia Online
storytelling
Impact of the Pandemic on Changes in the SKK Migas 3 November 2020
Workings of the Internal Audit Function Online
Next Generation Auditors IIA Malaysia 4 November 2020
Online
Internal Audit Journey Bank Mandiri Audit 24 November 2020
Course Online
2020 National IIA Indonesia Conference (Agile & Institute of Internal 2 – 3 December 2020
Remote Auditing) Auditors Indonesia Online
(IIA)
RISK MANAGEMENT UNIT (SKMR) EDUCATION AND/OR TRAINING

Throughout 2020, Vera Handajani, Risk Management Director, as the Head of SKMR CIMB Niaga participated in various
competency improvement programs in the form of training, workshops, conferences and seminars, the data of which
are listed in the Board of Directors Education and/or Training Table in this Annual Report.



Management
Discussion
and Analysis

Review of 2020 Macro Economy 154 Dividend Distribution Policy 252

Operational Review per 157 Employee and/or Management 253
Business Segment Equity Ownership Plan (EOP/
Profitability per Business Segment 159 MESOP)
Business Segment Review 160 Realization of Proceeds 255
from Public Offering
Corporate Banking 160
Other Important Transactions 256
Treasury and Capital Markets 164
in Significant Amounts
Transaction Banking 170
Important Changes in The Bank 256
Commercial Banking 174 and Bank Business Groups During
SME Banking 179 The Year
Consumer Banking 183 Financial Information Related to 256
Sharia Banking 195 Extraordinary and Rare Events
Financial Review 203 Provision of Funds, Commitments 257

and Other Facilities
2020 Strategy 204
Significant Prohibition, Limitation 257
Electronic Network Coverage 205 and Constraint to Conduct Fund
Expansion Transfers Between The Bank and
Statements of Financial Position 207 Other Entities in The Business
Consolidated Statements of 226 Group
Profit and Loss and Other Material Transaction of Conflict 257
Comprehensive Income of Interest and Transactions with
Statements of Cash Flows 233 Affiliated/Related Parties
Key Financial Ratios 234 Information on Transactions 261
Related to Investment, Expansion,
Prime Lending Rate 235
Divestment, Acquisition and
Commitments and Contingencies 236 Restructuring
Brief Report of Subsidiaries 237 Changes in Accounting Policies 262
Other Material Financial Information 239 Application of Foreign Account 267
Analysis of Ability to Pay Debts and 239 Tax Compliance Act (FATCA) &
Receivables Collectibility Common Reporting Standard (CRS)
Significant Agreements 245 Derivatives and Spot Transactions 268
Capital Structure of The Bank 246 Changes in Laws and Regulations 269
Investment Property 249 with Significant Effects and Their
Impact on Financial Reports
Material Commitments for Capital 249
Goods Investments Marketing Aspects 272
Capital Expenditure Investments 249 Business Prospects 279
Realized in The Last Fiscal Year Business Continuity Information 282
Comparison of Target with 250
Realization in 2020

REVIEW OF 2020 MACRO ECONOMY
GLOBAL MACRO ECONOMIC CONDITIONS The improvement in global economic growth in the
The global economy in 2021 is expected to gradually third quarter of 2020 was also attributable to various
recover from it’s decline since early 2020. Based on the fiscal stimulus schemes undertaken by government in
estimate from the International Monetary Fund (IMF), many countries. The Chinese economy had grown, while
global economic growth in 2020 is expected to shrink European and Japanese economies have yet to show a
by 3.5%, but projected to grow at 5.5% in 2021. Even similar trend. Nevertheless, a number of early indicators
with lingering concerns on the effect of COVID-19, many since October 2020 have shown that improvements in
countries have gradually opened up their economic the global economy would likely continue.
activities.
The improving global economy, despite still being clouded
A combination of low interest rate policy and quantitative by uncertainties, has temporarily led to a higher volume
monetary easing carried out by central banks in many of global trade and a rise in the price of commodities.
countries have resulted in a gradual improvement in In the meantime, uncertainties in the global financial
global economic growth. The Fed, for instance, continued markets were reduced by positive expectations on
with its highly accommodative policy to prop up the encouraging vaccine news and lessening tensions in the
financial markets. As a result, the US economy contracted US-China trade war. Entering the fourth quarter of 2020,
by 2.4% fuelled by improving domestic demand, primarily uncertainties in the global financial markets were further
through stronger private consumption and growing reduced, fueling a return of capital flows into emerging
private investments. markets and strengthening the currencies of a number
of these countries, including Indonesia.
Sources: International Monetary Fund and Bank Indonesia

THE INDONESIAN ECONOMY Economic growth is expected to rise in 2021 fueled by

The growth of the domestic economy in the last quarter an improved global economy, acceleration in Central
of 2020 improved in line with the increasing realization Government and Provincial Government spending,
of fiscal stimulus, growing public mobility, and increasing progress in credit restructuring, fiscal stimuli, and the
global demand. The Indonesian economy contracted by sustainable macroprudential policies of Bank Indonesia.
2.07% in 2020 from a positive growth of 5.02% in 2019.
Source: Bank Indonesia
Meanwhile, export performance was relatively stable in
the third and fourth quarter of 2020. However, a number THE BANKING INDUSTRY
of economic indicators suggested a continued domestic The financial system remained robust as reflected by the
economic slowdown. Public mobility in the first half of sound Capital Adequacy (CAR). As of 2020, the CAR for
the fourth quarter had been relatively similar to that of banking was at 23.89%, while the Non-Performing Loans
the entire third quarter, retail sales remained weak, and (NPL) ratio was maintained at 3.06% (gross).
personal income was still at a low level of stability.
However, the financial intermediary function of banking
The Information, Computer and Telecommunications had remained weak in line with a domestic demand that
sector grew significantly as a result of higher use of has only began recovering from the COVID-19 pandemic.
digital technology related to Work from Home (WFH) In 2020, loans contracted by 2.41%, whereas customer
and School from Home (SFH). By the end of 2020, the deposits grew by 11.11%.
number of positive COVID-19 cases in Indonesia had
remained high, albeit with an increasing recovery rate Financial transactions showed an increase in line
and a plateauing fatality rate due to continued COVID-19 with the improving economy and along with the
prevention measures and increasing public activities in accelerated digitization of the economy and finance.
the new normal. Financial transactions using ATM, Debit, and Credit
Cards grew 1.35% in the fourth quarter of 2020 after
By the third quarter of 2020, the Indonesian macro experiencing a contraction of 5.58% in the previous
economy began to show signs of recovery and resiliency. quarter. Simultaneously, digital financial transactions
The balance-of-payment showed a surplus of USD2.1 grew positively in line with the increasing use of digital
billion in 3Q 2020, strengthening the surplus of USD9.2 platforms during the pandemic as well as the growing
billion achieved during the previous quarter. The preference and acceptance of the public for digital
inflation rate had remained low at 1.68% in line with the transactions. The value of Electronic Money Transactions
relatively weak market demand and adequate market grew positively by 30.44% in December 2020, while in
supply. In line with the accommodative policies of Bank the same period the total value of internet banking
Indonesia, liquidity had remained loose and contributed transactions grew positively by 4.75%.
to the continuing decline of interest rates. This made it
conducive to finance economic growth. As of December Source: Bank Indonesia
2020, Bank Indonesia’s 7-Day Reverse Repo Rate (BI7DRR)
was 3.75%, with interest rates on the Deposit Facility and
Lending Facility at 3.00% and 4.50%, respectively.

THE POSITION OF CIMB NIAGA IN THE booked a positive Customer Desposits growth of 6.10%
INDONESIAN BANKING SECTOR yoy to Rp207.5 trillion from Rp195.6 trillion in the previous
Amid COVID-19 challenges, CIMB Niaga remained year. The growth of Customer Deposits was supported
committed to supporting the government stimulus and by the growth of low-cost funding, namely the Current
recovery of the national economy. CIMB Niaga continued Account and Savings Account (CASA), which collectively
to adhere to the prudential principles and maintain sound grew by 14.28% yoy.
asset quality. CIMB Niaga also continued to improve on
operation excellence, technology advancement, and CIMB Niaga’s Net Interest Margin (NIM) was stood at
innovation, including enhancement in its digital banking 4.88%, higher compared to the banking industry average
platform. To provide the best banking experience for of 4.45%. The CIMB Niaga CASA ratio increased to 59.62%
customers. in 2020 in line with the significant growth of CASA while
the industry grew from 56.86% in 2019 to 57.92% in 2020.
In 2020, CIMB Niaga booked a Consolidated Net Profit of Amid the challenging economic environment presented
Rp2.0 trillion, declining from Rp3.6 trillion in 2019. CIMB by COVID-19, resulted in an increase in NPL from 2.79%
Niaga also posted Total Loans amounting to Rp174.8 to 3.62%. The growth of the Bank’s NPL was in line with
trillion, down by 10.03% yoy compared to Rp194.2 trillion the industry NPL which increased from 2.53% in 2019 to
the year before. This was in line with the decline of 3.06% in 2020. The Bank’s CAR increased by 45 bps to
aggregate loans in the banking sector, which contracted 21.92% in 2020, while the industry CAR which increased
by 2.41% compared to the previous year. CIMB Niaga by 49 bps to 23.89%.

OPERATIONAL REVIEW PER BUSINESS SEGMENT
A business segment constitutes a group of assets and Operating segments are reported in accordance with
operations that are engaged in providing products and internal reporting provided to the chief operating decision
services that are subject to risks and returns and that are maker who is responsible for allocating resources to
different from those of other business segments. CIMB the reportable segments and assesses its performance.
Niaga divides its business segments based on operating All operating segments used by Bank CIMB Niaga met
segment and geographical segment. the definition of a reportable segment under SFAS 5
(Revised 2014). Bank CIMB Niaga has 7 (seven) reportable
OPERATING SEGMENT segments. The following describes the operations in each
An operating segment is a component of a business of Bank CIMB Niaga’s reportable segments:
entity: 1. Corporate - focuses on products and services for
1. Involved with business activities to generate income medium and large corporation customers;
and incurred expenses (includes income and 2. Business - focuses on products and services for
expenses relating to the transactions with other customer segments comprising small to medium
components with the same entity); scale enterprises;
2. Operations result is observed regularly by the 3. Retail - focuses on products and services for
respected chief decision maker to make decisions individual customers. It includes products such as
regarding the allocation of resources and to evaluate loans, deposits and other transactions, and balances
the performances; and with retail customers;
3. Has a separate financial performance information.

4. Treasury - this undertakes Bank CIMB Niaga’s treasury 6 (six) main geographical areas, except for Subsidiaries,
activities which include foreign exchange, money which are Jakarta, West Java, Central Java, East Java, East
markets, derivatives, and investing in placements and Indonesia, and Sumatra.
securities transactions;
5. Sharia - focuses on products and services relating to BUSINESS SEGMENT OF CIMB NIAGA
the Sharia Business Unit; In conducting its business activities and to achieve the
6. Others - includes all back office activities and non- Bank’s vision and mission, CIMB Niaga organizes its
profit center divisions in Bank CIMB Niaga. Thus, it working units in the following organizational structure:
includes corporate services, sales and distribution, 1. Business Units, comprising Consumer Banking,
and others; and Business Banking, Treasury & Capital Market, Sharia
7. Subsidiaries - includes all transactions relating to Banking, and Transaction Banking.
Subsidiaries businesses. 2. Support Functions, comprising Operations &
Information Technology, Risk Management,
GEOGRAPHICAL SEGMENT Compliance, Corporate Affairs & Legal, Human
A geographical segment defined particular location Resources, and Strategy & Finance.
that is subject to its unique risks and returns and may 3. Sales & Distributions, the unit that offers products
have different operating and economic environment. and services to customers in all branches across
The principal operations of Bank CIMB Niaga and its Indonesia.
Subsidiaries are managed in Indonesia. Bank CIMB
Niaga’s business segments are mainly separated in to

PROFITABILITY PER BUSINESS SEGMENT
OPERATING SEGMENT
CIMB Niaga has 7 (seven) business segments, namely corporate, business, retail, treasury, sharia, others, and subsidiary
entities. Information relating to the operating segments of CIMB Niaga and Subsidiaries is presented in Note 51 to the
Consolidated Financial Statements.
GEOGRAPHICAL SEGMENTS
The main operations of CIMB Niaga and those of the Subsidiary Operations are all managed within the jurisdiction area
of Indonesia. The Bank’s business segment, with the exception of the Subsidiary Entities, is divided into 6 (six) main
geographical areas, namely Jakarta, West Java, Central Java, East Java, Eastern Indonesia and Sumatra. The following
table sets forth the financial information of those geographical segments:
Jakarta West Java

Profitability (Rp million)
2020 2019 2018 2020 2019 2018
Net Interest Income/(Expense) 8,832,527 8,956,887 8,471,340 604,864 616,052 484,665
Net Operating Profit/(Loss) 2,077,652 3,238,687 3,647,047 244,572 482,831 170,577
Profit/(Loss) Before Income Tax 2,079,685 3,278,537 3,660,894 245,795 483,543 171,552
Net Profit/(Loss) 1,200,835 2,029,467 2,428,157 245,795 483,543 171,552
Total Assets 198,665,564 195,432,259 192,502,815 19,196,683 17,110,105 16,419,275
Total Liabilities 156,321,008 153,077,055 153,627,433 19,427,192 17,201,644 16,915,459
Central Java East Java

2020 2019 2018 2020 2019 2018
Net Interest Income/(Expense) 597,390 611,119 758,374 787,536 785,056 651,492
Net Operating Profit/(Loss) (501,565) 75,435 280,740 26,441 179,979 (130,533)
Profit/(Loss) Before Income Tax (501,159) 76,477 281,570 27,969 179,068 (126,694)
Net Profit/(Loss) (501,159) 76,477 281,570 27,969 179,068 (126,694)
Total Assets 10,977,975 11,604,869 11,584,189 22,773,849 22,335,339 20,422,525
East Indonesia Sumatra

2020 2019 2018 2020 2019 2018
Net Interest Income/(Expense) 373,886 374,745 339,644 796,438 743,572 820,335
Net Operating Profit/(Loss) 163,164 348,759 35,257 687,382 361,525 514,696
Profit/(Loss) Before Income Tax 163,194 349,514 35,704 687,351 362,334 515,285
Net Profit/(Loss) 163,194 349,514 35,704 687,351 362,334 515,285
Total Assets 7,432,225 7,923,989 7,378,290 18,035,959 16,110,770 15,864,357
Subsidiaries Total
2020 2019 2018 2020 2019 2018
Net Interest Income/(Expense) 477,877 480,587 485,881 12,470,518 12,568,018 12,011,731
Net Operating Profit/(Loss) 156,209 246,531 276,559 2,853,855 4,933,747 4,794,343
Profit/(Loss) Before Income Tax 244,585 224,424 312,507 2,947,420 4,953,897 4,850,818
Net Profit/(Loss) 187,269 162,532 176,854 2,011,254 3,642,935 3,482,428
Total Assets 3,861,350 3,949,896 2,610,047 280,943,605 274,467,227 266,781,498

BUSINESS SEGMENT REVIEW

CORPORATE BANKING
The Corporate Banking business segment is a service Banking is to improve asset quality by selecting clients
provided by CIMB Niaga specifically for corporate with good reputations as well as improving the portfolio
customers, as well as bank and non-bank financial monitoring process. In addition, Corporate Banking also
institutions. These include working capital loans, manages the improvement of internal processes through
investment and financing loans, Cash Management business process transformation, better customer
services, Trade Finance and other bank services. service, and operational improvements in relation to
Corporate Banking continues to deliver innovative services for corporate customers.
banking services and products to meet customer needs
through collaboration with the Transaction Banking Corporate Banking has also put a priority on strengthening
unit and the Financial Institutions & Non-Bank Financial relationships with existing customers. We continue to
Institutions unit. Through such collaboration, CIMB Niaga seek new customers selectively and prioritize a prudent
is committed to creating banking services and products approach in customer on boarding process.
tailored to the needs of its customers. This will result in
mutually beneficial relationships between CIMB Niaga FINANCIAL INSTITUTIONS
and its customers. The Financial Institutions (FI) unit mostly serves customers
in the banking segment, which covers local banks,
STRATEGIES AND POLICIES foreign banks and regional banks. In addition, FI also
Amid the macroeconomic challenges of 2020, the serves customers in the Non Bank Financial Institutions
strategies and policies implemented by Corporate (NBFI) segment, which includes securities companies,
Banking were aimed at seizing opportunities to support investment managers, insurance companies, pension
CIMB Niaga’s performance. The main focus of Corporate funds, multifinance companies and Self Regulatory

Organizations (SROs). FI provides special expertise to 3. Maintaining and growing the Securities Services
support the development of the Bank’s business in business through investment in new systems,
accordance with the diversity of industries pursuant to generating more funds from both existing and new
the OJK regulations. customers, and identifying potential customers.
4. Continuing to optimize the remittance business
The focus and strategy implemented by FI in 2020 through a digital platform capable of serving
includes: transfer of funds in various foreign currencies at
1. Account planning by improving strategic synergy competitive rates, and adopting SWIFT GPI (Global
and cross-sell coordination with other CIMB Niaga Payment Innovation) feature for faster, more secure
business units to expand customer base and cross- and traceable transfers of funds abroad in real
selling product opportunities. time. Also, deepening customer relationships with
2. Enhancing collaboration with Fintech to obtain existing customers by leveraging Bank’s advantages
inbound & outbound remittances through digital mentioned above.
service innovations.
2020 PERFORMANCE
In 2020, amid the COVID-19 pandemic, intense competition, and a challenging economic situation, Corporate Banking
recorded an increase in net interest income by 8.16% to Rp2.6 trillion from Rp2.4 trillion in 2019. Corporate Banking
also recorded profit before tax amounting to Rp1.6 trillion, from the previous year of Rp1.7 trillion in 2019. Non interest
income in 2020 was recorded at Rp437.0 billion, compared to Rp645.1 billion in 2019.
Net Interest Income Non Interest Income Profit Before Tax

(Rp trillion) (Rp billion) (Rp trillion)
2.6 645.1 2.3
2.4 2.4 609.6
1.7
437.0 1.6
2018 2019 2020 2018 2019 2020 2018 2019 2020
LOAN DISBURSEMENTS
In 2020, Corporate Banking reported total loans of Rp63.2 trillion (36.14% of the Bank’s total loans), representing a
decrease from Rp72.1 trillion in 2019. From this figure, working capital loans were recorded at Rp21.5 trillion, while
investment loans amounted to Rp41.6 trillion.
Corporate Banking continues to support sustainable development of the Sharia Banking business. Sharia financing in
2020 reached Rp10.7 trillion, contributing 16.99% of the total Corporate Banking loans.
In 2020, Corporate Banking also participated in syndicated loans of Rp2 trillion of the total syndicated loans amounting
to Rp18.6 trillion. Several significant syndicated loans include; PT CSM Corporatama, PT Charoen Pokphand Indonesia
Tbk, PT OKI Pulp & Paper Mills, PT Indo Log One, PT Saptaindra Sejati, and PT FKS Multi Agro.

LOANS QUALITY
The COVID-19 pandemic had a significant impact on
CUSTOMER TESTIMONY
Corporate Banking customers in 2020. Therefore,
Corporate Banking focused on providing relaxation
PT Semen Indonesia (Persero) Tbk (SIG) has programs for customers whose industrial sectors
been working together with CIMB Niaga were affected by the pandemic in accordance with
for 4 years. CIMB Niaga provides us with government policy programs. This involved developing
integrated banking services, from Transaction better communication with the customers and increasing
Banking, Supply Chain Financing and the intensity of early warning signs. In addition, the Bank
financing products with a flexible structure, also continued to perform enhanced supervision of its
fast services and competitive costs. Thanks asset quality portfolio.
to this collaboration, we can execute our
debt structure reprofiling program quickly Corporate Banking remains open to seeking new
and precisely. This has made an impact on customers selectively, while adopting a prudent approach
matching sources & uses of funds, efficiency in managing asset quality. In 2020, the gross NPL of
of working capital and on the overall financial Corporate Banking reached 4.1%. Meanwhile, loans
costs. restructured by Corporate Banking reached 10.2% or
24.0% of the total COVID-19 restructured loans.
We hope that In the future, CIMB Niaga will
continue to develop trade transaction-based CUSTOMER DEPOSITS
financing products that can best suit our Corporate Banking focuses on increasing its CASA through
needs. the collection of customer funds. This is done through
promotional programs, improving relationships as the
main operating bank for customer business transactions,
and increasing the use of BizChannel@CIMB as a tool
to simplify customer transactions while maintaining a
competitive deposits interest rate for customers.
As a result, in 2020, Corporate Banking recorded total

customer deposits amounting to Rp51.0 trillion, an
increase of 9.37% from Rp46.6 trillion in 2019. Corporate
Banking also recorded significant CASA growth of 12.89%
to Rp27.2 trillion from Rp24.1 trillion in 2019. This growth
was supported by an increase in demand deposits of
Rp3.3 trillion, or 13.78%, to Rp27.2 trillion in 2020 from
Rp23.9 trillion in 2019. The composition of CASA for
Corporate Banking made up 53.45% of the total deposits
Doddy Sulasmono Diniawan of Corporate Banking customers at the end of 2020,
Director of Finance greater than the contribution in 2019 of 51.78%.
PT Semen Indonesia (Persero) Tbk

Customer Deposits
(Rp trillion)
51.0
47.3 46.6 CUSTOMER TESTIMONY
27.2
23.2 24.1 For about a decade, CIMB Niaga has
been supporting PLN Group in providing
CASA electricity services in Indonesia, and not only
24.1 22.5 23.7 Time Deposits by providing support for our operational
activities with various CIMB Niaga trading
products, loans and working capital financing,
2018 2019 2020
under conventional and sharia schemes.
CIMB Niaga also actively participates in
supporting PLN’s investment in developing
PLANS, STRATEGIES AND POLICIES IN 2021 the electricity infrastructure in Indonesia
The Pandemic has caused multiple challenges not only by providing various loans and investment
to the economy but also threatening the lives of millions financing facilities, both conventional and
worldwide. Economic growth in the fourth quarter of Sharia schemes, with attractive tenors and
2020 was -2.19% and the improvement in domestic pricing, as well as through product innovation,
economic growth is expected to continue in 2021. which is extremely beneficial for the large and
customized-tenor investments made by PLN.
The increasing community mobility in a number of
regions, continuous improvements in the Manufacturing We sincerely hope that CIMB Niaga can
PMI, strengthening of consumer confidence and income, continuously grow and always be an
availability for employment, and improving business activities innovative bank, to become the leader in
have created confidence that economic growth will improve answering the banking needs of customers
in 2021. Nevertheless, 2021 will still be overshadowed by a and we do also hope that the cooperation
high level of uncertainty due to the prolonged adoption of established so far will be even stronger in
Regional Large-Scale Social Restriction policies in several the future and continue to make a positive
regions. Hence, portfolio quality monitoring of existing contribution to the development of the
customers will still be a priority. electricity industry in Indonesia and the
progress of national economy.
In addition, Account Planning activities will continue to
be implemented to further explore customer needs and
improve product cross-selling opportunities. For potential
new customers, Corporate Banking will prioritize a prudent
approach, focusing on customers with good reputations.
Corporate Banking will also continue to improve its internal
processes, through business process transformation,
customer service, and operational improvements for the
benefit of the customers experience in the future.
Teguh Widhi Harsono

Executive Vice President Corporate Finance Division
PT Perusahaan Listrik Negara (PERSERO)

TREASURY AND CAPITAL MARKETS
Throughout 2020, macroeconomic and banking In addition to reducing interest rates, Bank Indonesia also
industry developments were highly dynamic, where provided stimulus programs to maintain market liquidity.
the economies of almost all countries in the world Such provisions resulted in retail and institutional
experienced contraction due to the COVID-19 pandemic. investors seeking out investment products in the form
The Rupiah closed at Rp14,105 against the US dollar at of securities and structured products. In line with these
the end of 2020 a slight decrease of 1,47% from Rp13,901 conditions, Treasury Banking and Capital Markets has
at the end of 2019. Meanwhile, the 10-year government emphasized its strategies by focusing in the Trading &
bond yield decreased to 5.94% at the end of 2020 from Investment Product segment, particularly in relation
7.02% at the end of 2019. to the trading book and development of investment
products, and facilitating automated transactions and
In order to maintain macroeconomic and financial continuous e-channel developments.
system stability, as well as national economic recovery,
Bank Indonesia reduced the BI 7-Day Reverse Repo STRATEGY AND POLICY
Rate (BI7DRR) 5 (five) times in 2020 by 125 bps to 3.75%. Treasury Banking and Capital Markets has maintained its
This decision is in line with the demand to maintain main focus on providing hedging transaction services and
macroeconomic stability amidst low inflation and a investment services while adopting a prudent principle
relatively stable Rupiah. Bank Indonesia also purchased in response to global market and economic challenges.
SBN for financing and sharing of expenses as a part of In addition, Treasury Banking and Capital Markets has
the 2020 State Budget for the national economic recovery also continued to develop investment products tailored
program, amounting to Rp473.4 trillion. to customer needs in order to achieve the Bank’s goal of
becoming the customer’s preferred bank for investment

activities and foreign exchange transactions. To address 3. Expanding CIMB Niaga’s sales and distribution
any unfavorable macroeconomic challenges, Treasury network to provide structured financial products and
Banking and Capital Markets has been striving to services, both conventional and sharia-based.
implement the right strategies and policies. High volatility 4. Sustainable digital channels development, among
in the foreign exchange market and Government others, developing digital and automated-based
Securities market has provided an opportunity for the securities and foreign exchange transaction services
Trading Book portfolio to generate higher trading returns in line with CIMB Niaga’s Fintech-based development.
while Bank Indonesia’s interest rate relaxation has 5. Maintaining a diversified funding strategy through the
provided an opportunity for the Banking Book portfolios issuance of new debt securities in the Capital Market
to purchase Government Securities. to replace maturing debt securities and increasing
the total value of debt securities emissions by paying
In terms of relationships with its customers, Treasury attention to the market conditions and demand for
Banking and Capital Markets has consistently improved loans and/or sharia financing growth.
customer convenience and experience for transactions
with CIMB Niaga products, particularly through digital 2020 PERFORMANCE
channels, which have become increasingly popular In 2020, Treasury Banking and Capital Markets achieved
since the COVID-19 pandemic outbreak. In addition, excellent results, where the strategy implemented
the pandemic has accelerated the automation and succeeded in optimizing opportunities in the middle of
digitization process in the banking industry. uncertain economic conditions during the COVID-19
pandemic, thus resulting in better achievements
CIMB Niaga, through Treasury Banking and Capital compared to the previous year.
Markets, has made automation of banking processes and
digitalization its main focus while still paying attention Treasury Banking and Capital Markets recorded an
to the security aspects of transactions. Such efforts are increase in revenue in 2020, with the income from gain
evidenced in the development of online foreign exchange on Investment in Marketable Securities (MS) the main
remittance transactions, Government Securities, and contributor. Gain on Investment in MS amounted to
Retail Securities transactions. Rp859.4 billion in 2020, increasing by 93.18% from Rp444.9
billion in the previous year. As for foreign exchange and
Treasury Banking and Capital Markets has also derivative transactions, despite a decreasing volume of
implemented the following strategies and policies: foreign exchange transactions, Treasury Banking and
1. Launching new products and modification of existing Capital Markets managed to increase its gain on foreign
products to address customer needs in line with exchange and derivative transactions by 63.89%, from
market developments. Rp538.5 billion in 2019 to Rp882.5 billion in 2020.
2. Cross-selling with other units to enhance the offerings
of a comprehensive portfolio of foreign exchange and
securities products.
Gain on Investment in MS Gain on Foreign Exchange and Derivative Transactions

(Rp billion) (Rp billion)
859.4 882.5
689.8
538.5
444.9
241.7
2018 2019 2020 2018 2019 2020

In terms of Treasury Islamic Banking, the excess of liquidity in the Islamic market has resulted in a positive performance.
The Dual Banking Leverage Model Concept implemented at CIMB Niaga has made a positive impact on the achievement
of targets and efficiency in Treasury Sharia Banking.
TREASURY BANKING AS LIQUIDITY MANAGEMENT

Throughout 2020, CIMB Niaga issued Sukuk in public offerings with the following details:
Nominal Amount
Instrument Ratio/Coupon Issuance Date Maturity Date
(billion)
The ratio is 14.50% of the revenue
Rp322.0 (Series A) sharing with profit sharing indication 27 March 2020 7 April 2021
equivalent to 5.80% per annum
Shelf Registration Sukuk The ratio is 17.50% of the revenue
Mudharabah I Bank CIMB Niaga Rp287.0 (Series B) sharing with profit sharing indication 27 March 2020 27 March 2023
Phase III Year 2020 equivalent to 7.00% per annum
The ratio is 18.13% of the revenue
Rp391.0 (Series C) sharing with profit sharing indication 27 March 2020 27 March 2025
equivalent to 7.25% per annum
This bond issuance represents CIMB Niaga’s strategy 3. FX Forward. This is essentially the conversion or
to diversify its financing through the issuance of bonds trading of the currency from other foreign currencies
in the Capital Market for stable long-term financing against Rupiah with a settlement date of more than 2
purposes and extending the period of CIMB Niaga’s working days after the transaction date.
liabilities. The issuance of the Shelf Registration Sukuk 4. Par Forward. This is an alternative hedging transaction
Mudharabah I Bank CIMB Niaga Phase III Year 2020 aims that minimizes the risk of future exchange rate
to support CIMB Niaga’s sharia financing activities. movements. This product comprises several FX
Forward transactions arranged into a single contract.
TREASURY BANKING PRODUCTS AND SERVICES 5. Call Spread Options. This is a hedging instrument
Treasury Banking and Capital Markets continues to that minimizes the risk of exchange rate movements
provide relevant products to support both institutional by combining the buying and selling options of
and individual customers. This is a strategy to continue customers with the same contract value and different
the Bank’s growth and to provide added value to strike rates.
customers. Some of the Bank’s products and services 6. FX Call Option and FX Put Option. These represent
offered include: the right to make a sale or purchase transaction
of a currency against other currencies with a
ROUTINE TRANSACTIONS predetermined exchange rate, amount and maturity
Routine transactions include daily transactions for foreign date.
exchange transaction services including FX TODAY, FX
TOM, FX SPOT and bank notes. INVESTMENT PRODUCTS
1. Market Linked Deposits (MLD). A structured product
HEDGING PRODUCTS that combines derivative instruments and time
Hedging products include products designed to protect deposit, offering a yield enhancement and benefits
financial performance against the risk of fluctuations in from guaranteed 100% principal value. MLD is
interest rates and exchange rates. These products include: flexible and liquid (CIMB Niaga provides daily price
1. Interest Rate Swap (IRS). This is a product that offers quotations). In accordance with the underlying assets,
hedging contracts for movements in long-term loan MLD is divided into 2 (two) types: interest rate based
interest rates to prevent losses due to volatile interest and foreign exchange based.
rate movements in the future.
2. Cross Currency Swap (CCS). This is a product that
offers a contract to exchange principal and interest
rates for two different currencies during a specified
period.

2. Depo Swap. A Structured Product offering yield

enhancement and 100% protection for the principal
CUSTOMER TESTIMONY
value of placement. This product combines time
deposits with derivative instruments based on FX
Swap. PT ScanCom Indonesia is engaged in the
3. Strike Currency. A structured product related to outdoor garden furniture manufacturing
derivative transactions in the form of currency industry, where 100% of its products are
options using a strike price. exported to foreign countries such as Europe,
4. Bonds. CIMB Niaga is counterparty in government America and Vietnam. We became a CIMB
bond transactions such as Retail State Bonds (ORI), Niaga customer in February 2017 and we were
Retail State Sukuk (SRI), and corporate bonds. mainly assisted in terms of foreign exchange
5. Bond Linked Investments. A structured product that rates for our exports. Currently, we are using
combines a non-derivative instrument (Time Deposit) BizChannel@CIMB for buying and selling
with a derivative instrument (Bond Option). This foreign currencies and in-house domestic
product is issued in Rupiah. Customers who invest in and international transfer payments.
this product have the opportunity to take advantage
of rising bond reference prices by executing the We hope that the exchange rates offered by
Option if the fixing price is greater than the strike CIMB Niaga will continue to be competitive
price. and attractive so that we are not tempted to
move to an other bank. We also hope that
In 2020, Treasury Banking and Capital Markets launched CIMB Niaga will continue to improve with
the following products: better services and will facilitate customer
1. Bond Linked Investment, an investment whose return needs as well.
value is linked to the price of Government Securities
(SBN).
2. Bond Forward CASA, a facility to purchase Government
Securities (SBN) with installments facilities.
SUPPORT FOR THE GOVERNMENT PROGRAM

In 2020, CIMB Niaga actively participated as a sales
agent for Indonesian Retail Government Bonds, such
as Retail State Bonds (ORI), Retail State Sukuk (SRI),
Sukuk Savings, and Retail Saving Bonds. To carry out the
intermediary function, CIMB Niaga provides daily bond
price quotations to customers.
Rony Tan Tiek Bing

Senior Manager Finance and Administration
PT ScanCom Indonesia

NETWORKS AND SERVICES

Treasury Banking and Capital Markets continues to
CUSTOMER TESTIMONY
optimize its network that is spread across several main
cities in Indonesia to provide the best service and
The relationship between Triputra Agro banking products tailored to customer needs. Services
Persada Group’s and Bank CIMB Niaga has are actively provided by Treasury Head Office Jakarta and
been built since 2013. However, in terms of Regional Treasury which has been established in 6 major
banking products as a Group, CIMB Niaga cities in Indonesia - Medan, Bandung, Solo, Surabaya,
became a banking partner for the Triputra Denpasar and Pontianak, to provide Treasury products
Group way before that. for customers. All Treasury Banking and Capital Markets
products are available at most CIMB Niaga branches
CIMB Niaga has been supporting our entities throughout Indonesia.
in expanding businesses with investment
financing facilities, cash management Treasury Banking and Capital Markets also provides
and other products. CIMB Niaga has also convenient electronic transaction services for foreign
provided us with comprehensive information exchange products and securities, which can be obtained
on hedging products which we can use to at most CIMB Niaga branches throughout Indonesia.
hedge our loans. The Bank’s disclosure of Such services include providing price quotations in real
information on products and services, along time with a faster distribution process.
with good communication from the Treasury
and Capital Markets Team has led to our Treasury Banking and Capital Markets also cooperates
decision to use these products to date. with the CIMB Group, specifically CIMB Bank Bhd
Singapore and CIMB Bank Bhd Malaysia, in serving
We would like to congratulate CIMB Niaga customers’ cross-border transaction needs.
for keeping their commitment to providing
excellent services and cooperation. We do OPTIMIZATION OF INFORMATION
wish that this relationship can grow and TECHNOLOGY
together we can contribute to building our Treasury Banking and Capital Markets has optimized its
beloved country, Indonesia. use of information technology to provide better services
to customers. The use of information technology allows
customers to perform online foreign exchange transactions
in real time without time and location limitations.
Treasury Banking and Capital Markets also uses

information technology to obtain the domestic and
foreign information required to determine trading
strategies. Optimization of information technology is also
carried out in real time distributing prices for Treasury
Banking and Capital Markets products to all CIMB Niaga
branches so as to provide more competitive prices.
During 2020, Treasury Banking and Capital Markets

developed online remittance of foreign exchange
transactions through OCTO clicks, as well as Government
Securities (SBN) and Retail SBN transactions in both
the primary and secondary markets through the
OCTO mobile. This is a continuation of the ongoing
Tjandra Karya Hermanto developments that have been carried out in previous
Chief Executive Officer years to continuously improve customer convenience
PT Triputra Agro Persada
and customer experience for transactions with Treasury
products.

PLAN, STRATEGY AND POLICY IN 2021

In 2021, the COVID-19 pandemic is expected to remain an
uneasy challenge and will continue to impact the global
and domestic economy. CIMB Niaga, through Treasury
Banking and Capital Markets, believes that the abundant
liquidity in the market will still serve as a potential sale
of investment products in the retail and institutional
segments.
Based on the situation, Treasury Banking and Capital

Markets will implement this strategy while continuing to
focus on e-channel development and easy transactions
of treasury products for customers. As for Sharia
Treasury Banking, the Bank’s strategy in 2021 is to focus
on purchasing capital market products based on sharia
principles, as well as issuing Islamic investment products
and sharia hedging to improve its competitiveness
against other sharia and conventional banks.

TRANSACTION BANKING
Amid the COVID-19 pandemic throughout 2020, the global banking transaction needs. In addition, the pandemic
economy experienced a slowdown. The IMF estimated has also impeded export-import trade transactions due
that the global economy would begin to recover in the to the disruption of supply chains as a result of border
second half of 2020 resulting in an aggregate global restrictions between countries.
economic growth of -3.5% in 2020. Improvement in the
global economy will continue until 2021. Meanwhile, This condition has encouraged the banking sector to
Indonesian economic growth improved to -2.19% in accelerate transformation of digital payment and trade
4Q20 compared to -3,49% in the previous quarter. to support the “new normal” in consumer behaviour.
Banking industry CAR remained high at 23.41%, and the Transaction Banking (TB) anticipates these conditions
industry’s NPL ratio was kept low at 3.06% (gross) and through innovation, product development, and process
1.07% (net), despite the slowing intermediary roles of efficiency, with a focus on serving customer needs based
the financial sector due to weakening domestic demand on digital technology.
and the prudent stance of banking due to the continuing
COVID-19 pandemic. Rapid technological advances in big data and artificial
intelligence has provided new opportunities for the
The management of COVID-19 and challenges in the Bank’s business, and a spur for the Bank to move faster
financial sector have affected consumer confidence and in innovations in order to adapt to customer needs.
prevented further improvements in both consumption Changes in consumption patterns and the rapid evolution
and investment. This pandemic has also affected of digital technology continues to affect the needs of both
the banking industry, mainly in changing customer individuals and corporations for more comprehensive,
behaviour. Customers are becoming more familiar in efficient and cost-effective banking services.
using digital products for their daily needs, including

STRATEGY AND POLICY TRADE FINANCE AND VALUE CHAIN

Transaction Banking continues to strengthen its product To support the export-import activities of customers,
portfolio and focuses on providing the best services to Transaction Banking has responded to the banking needs
customers, supported by a state-of-the-art digital banking of customers by providing solutions in trade finance
platform. In 2020, Transaction Banking implemented transaction services that are diverse and timely, and
a number of strategies and policies in order to provide catered to customer preferences in both conventional
the best services to customers and to spur product and sharia deeds. The trade finance product lines include
development in generating low-cost funding and fee- L/C, bank guarantees, and trade working capital solutions
based income for the Bank, namely as follows: such as trust receipts, import and export financing, risk
1. Digital services, providing digital solutions and participation, and supply chain financing.
services to meet the banking needs of customers.
2. Digital documentation, utilising paperless technology For domestic trade finance facilities, Transaction Banking
for document services and product deliveries to has developed a payment system by which principals
customers in order to increase efficiency and security. can expand their market and overcome their limitations
3. Customer experience, enhancing back-end system supported by a strong electronic banking platform that
capabilities in order to optimise efficiency and monitors the status of invoicing, payment and others.
improve customer satisfaction.
4. Intensifying cross-selling, by increasing the offer of SECURITIES SERVICES
product bundling to customers. Transaction Banking provides Securities Services that
comprise of custodian, fund administration, and trustee
CASH MANAGEMENT services. These services are provided to CIMB Niaga non-
Over the years, the number of users and transactions retail customers in the Non-Bank Financial Institutions
in BizChannel@CIMB, the Bank’s internet banking (NBFI) segment, which includes insurance business,
platform for the non-retail segment, have continued to securities companies, investment managers and pension
increase. This growth has prompted CIMB Niaga to strive funds.
continuously in meeting the expectations of customers
and to keep itself abreast of the latest development in Securities Services also provide payment bank or
information technology, thus driving the growth of CIMB settlement bank services. Pursuant to the mandate of
Niaga’s operating account. the Indonesian Central Securities Depository (KSEI), CIMB
Niaga is the only bank in Indonesia authorized to serve
The focus of Transaction Banking’s strategy in Cash as a payment bank for foreign currency denominated
Management services is as follow: transactions in the capital markets.
1. Digitalization, through product innovation and
banking process. CIMB Niaga continues to be trusted by customers for
2. Cross-Sell, instilling the cross-selling culture to this mandate, where currently CIMB Niaga is still one
increase product retention and customer preference of the payment banks for the rupiah currency with the
for banking transactions with CIMB Niaga. largest market share in Indonesia. The Securities Services
3. Flexible Solution, providing holistic Cash Management unit is continuously enhanced as an anchor product of
solutions that cater to the banking needs of Transaction Banking to increase the fee-based CIMB
customers. Niaga and Customer Deposits from current accounts.
4. Optimize Activity, increasing service penetration for
cross border remittance and adjusting pricing to
customers to maximise profitability.
5. Targeted Campaign, in order to stimulate customer
product activation, launching programs aligned with
the correct segments and customer needs.

STRATEGIC COOPERATION
The Transaction Banking continues to undertake product
CUSTOMER TESTIMONY
innovation in 2020. This innovation was undertaken
through strategic collaboration with several large
Over the past three years, we have corporations, and include:
collaborated with CIMB Niaga as our trusted 1. Strategic collaboration with a company that provides
partner. CIMB Niaga serves as an important the integrated online tax application services for the
foundation in our daily business operations, tax calculation, payment and reporting to customers.
specifically in providing working capital loans. 2. Strategic collaboration with a company that provides
online accounting solution services on integrated
During this pandemic, market volatility has host-to-host platforms.
required a large number of companies to
respond proactively and promptly to survive 2020 PERFORMANCE
and thrive. We have done this together Throughout 2020, Transaction Banking performed
with our banking partner, CIMB Niaga. Even well, supported by successful efforts in expanding and
outside official working hours, the CIMB penetrating business communities in many industries.
Niaga team never runs out of time to meet The implementation of the right strategies and policies,
our needs. as well as strategic collaborations, has led to positive
outcomes in performance of Cash Management, Trade
We hope that in years to come, the relationship Finance, Value Chain, and Securities Services.
that has been developed between our teams
can grow and develop even more. Nothing In Cash Management services, the number of users
is instant and we believe that mutual trust of BizChannel@CIMB grew by 14.90%, which was also
between our company and our people is no followed by an increasing number of active users using
exception. this service that grew by 6.54%. This had a positive impact
on the growth of the Bank’s operating accounts in 2020
as seen from the increase in the total position of current
account by 18.78% from that of the previous year.
In Value Chain services, linkage between the Principal

and Distributor as well as support from the Business
Units, affected the average volume of funds in 2020,
which increased by 30.65%. Meanwhile, in Trade Finance
services, strong prospects for Sharia business in 2020
have resulted in an increase of total financing iB Trade
Finance by 5 times compared to the previous year.
Lynda Dini Gunawan

Director
PT Padi Hijau Buana

Securities Services continued to grow and posted a 7.63%

growth in total assets management, which was mainly
fuelled by an increase in Custodial Services management
(Asset under Custody Services) by 6.82% and Trustee
Services (Asset Under Management) that also growing by
16.73% in 2020.
PLAN, STRATEGY AND POLICY FOR 2021

Going forward, Transaction Banking has set its plan,
strategy and policy to be implemented in 2021, as follows:
1. Innovation, conducting continuous product
innovation using latest technology, customised to
customer needs on the basis of Customer Experience.
Transaction Banking will also undertake a business
re-engineering process as well as continuous product
development to increase service efficiency and
customer satisfaction.
2. Price optimization, utilizing the right pricing strategy
towards the customer by calculating the needs of
customers and the resources of the Bank to arrive at
the optimum profitability.
3. Account Planning, increasing strategic synergies and
coordinating product cross-selling between CIMB
Niaga business units in order to maximise profitability
from customers.
4. Expanding the customer base, collaborating
strategically with the team from Financial Institution
Group (FIG) to optimise new business opportunities
from customer referrals.

COMMERCIAL BANKING
The Commercial Banking business segment caters to In early 2020, Commercial Banking focused on growing
the Mid Corporate and Medium Enterprise customers. good quality loans. However, the global and national
Since 2020, Commercial Banking has forged a strategic macroeconomic conditions have changed significantly
partnership with Micro Linkage, Koperasi Unit Desa (KUD) since the COVID-19 pandemic proliferated in March 2020.
under a Core-Plasma-Partnership, Rural Credit Banks The government’s policy on Large Scale Social Distancing
(BPR) and Regional Development Banks (BPD) through a to mitigate the spread of COVID-19 in several areas has
Linkage program namely Channeling, Executing and Joint resulted in a slowdown of economic activities.
Financing. The products and services offered include
working capital loans, investment loans, funding, cash- As a result, Commercial Banking took adaptive steps to
management, trade finance, foreign exchange services, focus on maintaining loan quality while also increasing
BizChannel@CIMB, and other services. Commercial customer deposits to support liquidity. In its continuous
Banking together with the Transaction Banking and efforts, Commercial Banking focused on high quality
Treasury Banking strive continuously to provide solutions loan growth aiming at areas with potential high GDP
and services while providing transaction convenience to and prospective sectors, such as Fast Moving Consumer
customers. Goods (FMCG), Health Services and Plantation.

MICRO LINKAGE STRATEGY AND POLICY

The Micro Linkage Banking unit implements an indirect Commercial Banking constantly innovates to
strategy, by establishing strategic partnerships using a strenghten the CIMB Niaga brand by offering solutions,
Linkage Scheme, in the form of Executing, Channelling comprehensive services, ease of transactions and
and Joint Financing. Strategic partners working with Micro positive engagements with customers. Throughout 2020,
Linkage in 2020 include Koperasi Unit Desa (KUD) under Commercial Banking implemented several strategic
a Core-Plasma-Partnership, Rural Credits Bank (BPR) and initiatives, among others:
Regional Development Banks (BPD). 1. Maintain loan quality, through:
a. defering repayment of the loan principal and/
CIMB Niaga also provides loans to end users comprising or interest for clients whose mobility has been
customers of BPD and BPR, and members of the KUD. restricted both at home and abroad;
These partners were appointed as agents of CIMB b. more selective and targeted loan disbursement
Niaga, who played the roles as marketing agents, for some sectors that are not affected by mobility
collecting agents and security agents. This strategy restrictions; and
aimed to understand and measure the market potential c. applying special protocols in loan withdrawal
of Medium Enterprise in line with the diversity of their and strenghtening loan monitoring intensively
businesses, and also utilization of the Bank’s strategic through the Early Alert and Asset Quality team
partners for developing the Medium Enterprise business 2. Increase funding, through:
segment. The strategic partners played a key role for the a. launching innovative programs focusing on
loan disbursement as well as collection process, which current accounts with more competitive interest
ensures that asset qualities are well maintained. rates and intensification of digitally-based cash
management services; and
CIMB Niaga uses Micro Linkage to provide financing to b. Collaboration with Transaction Banking and
palm oil farmers/plasma, who are members of KUD. Treasury to develop products that suit the profile
Thus, the farmers receive loans from CIMB Niaga to open of commercial customers and to increase Value
and maintain oil palm plantations. Chain penetration.
3. Technology utilization to enhance customer
In 2020, the Micro Linkage loans portfolio amounted to experience through:
Rp7.1 trillion, decreasing 6.60% from the previous year a. Using the Loan Origination System to support
of Rp7.6 trillion. Loan quality is constantly maintained the loan application process so that loan
as NPL ratio booked 0.6%. The Micro Linkage Unit disbursement can be faster, more efficient and
continuously intensifies its monitoring program and ineffective;
depth analysis of the financing quality through more b. providing internet banking services through the
effective communications with partners to face the BizChannel@CIMB Mobile application that has
slowdown in loan growth. advanced features such as payment management,
time deposits placement and tax payment; and
c. complementing the Relationship Manager (RM)
at Commercial Banking with OCTO Bench mobile
application that facilitates the RM in their daily
marketing activities.

PERFORMANCE 2020
In 2020, net interest income of the Commercial Banking segment increased by 17.53% to Rp1.9 trillion from Rp1.6
trillion in the previous year. Furthermore, Commercial Banking booked non-interest income of Rp121.3 billion,
decreased 71.70% from Rp428.5 billion in 2019. Commercial Banking incurred a loss before tax of -Rp116.8 billion in
2020, compared to a profit before tax of Rp1.162 billion in 2019. Net interest margin ratio increased to 4.61% in 2020,
from 3.38% in the previous year.
Net Interest Income Non Interest Income Profit Before Tax

(Rp trillion) (Rp billion) (Rp billion)
1.9 429 1,162
1.7
1.6
269
121
2018 2019 2020 2018 2019 2020 -117

-182
2018 2019 2020
LOAN DISBURSEMENT LOAN QUALITY

Total Commercial Banking loans in 2020 amounted to Commercial Banking continuously undertook several
Rp36.2 trillion, decreased by 22.06% from Rp46.5 trillion initiatives to increase loan quality, namely:
in 2019. Working capital loans amounted to Rp24.8 1. Improving business process by forming a special
trillion in 2020, decreased by 27.60% from Rp34.3 trillion unit to support credit activities including Business
in 2019. Meanwhile, investment loans amounted to Credit Team, Clients Service, Early Alert, Portfolio
Rp11.4 trillion in 2020, decreased by 6.42% from Rp12.2 Management and Asset Quality. These units will focus
trillion in the previous year. more on improving the credit processing and credit
quality as the 1st line of Defense.
The decrease in total loans during 2020 was in line with 2. Combine the Early Alert team and the Asset Quality
the strategy implemented by Commercial Banking to be team to monitor daily news related to a customer,
more selective on loan disbursement for good quality undertake stress test, integrate business segment
clients. Commercial Banking continued to collaborate watch lists, and enhance the monitoring of overdue
with the Transaction Banking team focusing on the lead repayments.
generation initiative. Through this initiative, the team 3. Re-Mapping Focus & Foot Print, identifying areas
identifies potential customers to be offered certain with growth potential and focusing on the largest
products, namely: industries in each area.
1. customers who have not used BizChannel@CIMB; 4. Taking preventive measures on the front lines
and of lending based on the principle of prudence in
2. customers who do not have Trade facilities, but accordance with the risk profile of each client, as
engage in export/import activities. well as credit scoring that has been determined in
accordance with the Bank’s risk management.

In 2020, the gross NPL ratio increased to 5.70% from

4.40% in the previous year. Efforts were taken to improve
CUSTOMER TESTIMONY
loan quality, including:
1. Identifying potential problems regularly and
continuously to avoid potential credit problems. BPR Eka has been a customer of CIMB Niaga
2. Restructuring and rescheduling credit facilities for more than 19 years. Such a moment was
judiciously in time and on target. special and historic for us since CIMB Niaga
3. Increasing cooperation intensively with the Bank’s was here when we really needed financial
loan work-out unit to arrive at the best possible support. CIMB Niaga continues to offer and
solution. provide financing and savings products with
competitive advantages to provide more
profitable added values for us.
Gross NPL
(%)
6.1 BPR Eka hopes that CIMB Niaga will always
5.7
be managed by reliable and friendly bankers
4.4 who are able to meet customer needs amidst
dynamic business challenges. All the best for
CIMB Niaga.
2018 2019 2020
To ensure the business continuity of SME and Non-SME

amid the crises arising from the COVID-19 pandemic,
Commercial Banking undertook a policy of loan repayment
extension through loan restructuring pursuant with the
OJK policy on economic stimulus. The relaxation policy
includes loan principal and interest payment deferment,
while adhering to the Bank’s principle of prudence.
Throughout 2020, Commercial Banking extended
COVID-19 loan restructuring amounted to Rp9.0 trillion.
CUSTOMER DEPOSITS
In 2020, the total of Commercial Banking customer
deposits amounted to Rp20.1 trillion, increased by 6.74%
Eko Budiyono
from Rp18.8 trillion in the previous year. Current accounts President Director
increased by 13.42% to Rp10.5 trillion from Rp9.3 trillion PT BPR Eka Bumi Artha
in 2019, whereas savings increased by 10.64% to Rp0.9
trillion from Rp0.8 trillion in the previous year. These
achievements contributed to the improvement of CASA
by 13.20% from Rp10.0 trillion in 2019 to Rp11.4 trillion
in 2020.

CASA
(Rp trillion)
11.4
CUSTOMER TESTIMONY 9.9 10.0
INDO LYSAGHT GROUP (“IL”) has established

a very good partnership with CIMB Niaga for
about 5 years. We chose CIMB Niaga because
it has a very good reputation and is one of the
global banks with an extensive correspondent
bank network and perfectly adequate
2018 2019 2020
network of branches and trade centers. CIMB
Niaga provides fast and excellent service
through the support of all staff in commercial,
trade, treasury and operations, and the Bank TARGET, STRATEGY, AND POLICY 2021
also eases document requirements, provides Commercial Banking will continue to undertake
a complete range of trade finance products improvement and innovation in 2021, including the
and services and offers very competitive FX continuation of programs, strategy, and policies carried
rates. out from 2020. Going forward, Commercial Banking will
focus on improving loan quality, growing loans selectively,
Hopefully the good services can be and increasing third party deposits to support the Bank’s
maintained and the development of new liquidity.
products and services is also added. Move
forward with CIMB Niaga for the development
of the nation.
Wedi
Finance Director
PT Indo Lysaght

SME BANKING
SME Banking provides services to small and medium size and to improve credit processing to enhance efficiency
enterprises that are spread across Indonesia. It continues and broaden the network for SME Banking in order to
to actively pursue growth in both loans and customer improve customer service.
deposits through product development that focuses
on strengthening the customer base for potential and Slowing economic growth as a result of the COVID-19
good quality customers. The product development puts pandemic has influenced the SME business segment.
forward bundling programs that allow customers to enjoy In support of the SME business segment, CIMB
benefits from both lending and funding products, as well Niaga, through its SME Banking, has carried out loan
as collaboration between CIMB Niaga’s business units restructuring for customers affected by the pandemic,
with referral and cross-selling programs, including value pursuant to the guidelines on prevailing stimulus
chain, while maintaining prudential principles in loans schemes. This became the focus of SME Banking at the
disbursement. In providing its services, SME Banking is start of the COVID-19 pandemic. However, SME Banking
equipped with reliable Relationship Managers, the latest continued to selectively support new and existing
digital platforms and the presence of branch banking customers for working capital and investment loans
networks that are within reach of customers. All this is referring to the prudential principles.
expected to create useful products and services that
can meet the needs of customers in the SME business STRATEGY AND POLICY
segment. In 2020, SME Banking implemented a business strategy
and policy as stated in the Bank’s Business Plan with the
In addition, SME Banking strives to innovate intensively aim of achieving sustainable growth. SME Banking took
and continuously to develop its digital based services strategic steps in order to grow the business while still

adhering to the prudential principles and carried out b. Cross-selling other products of the Bank to
effective restructuring. provide a one-stop solution service to potential
customers;
In addition, SME Banking also implemented the following c. Focusing on the customer experience of SME
strategies and policies: customers by providing the best services and
faster approval processes by providing lending
1. Increasing loan growth by: facilities in combination with attractive product
a. Focusing on small and medium sized customers bundling;
with significant potential and more efficient d. Capitalizing on the customer bases of Corporate
processing; Banking and Commercial Banking to extend
businesses for both lending and funding; and
e. Exploring opportunities with existing and potential
individual customers to extend credit facilities
CUSTOMER TESTIMONY from the SME Banking segment through attractive
engagement programs that suit customer needs.
I have collaborated with CIMB Niaga for 25 2. Maintaining loan quality through:
years, when the Bank still used Lippo Bank as a. Acquiring new customers and engaging existing
its name. customers selectively while still adhering to the
prudential principles;
CIMB Niaga provides excellent banking b. Strengthening and monitoring asset quality
services. Based on my experience, when I effectively and efficiently; and
encounter a problem, the CIMB Niaga team c. Developing a system that can detect a declining
is quick and responsive to provide a good asset quality based on certain predictive tools.
solution.
2020 PERFORMANCE
My hope is that the CIMB Niaga’s services that In 2020, SME Banking booked total loans of Rp20.2
have been provided so far can be maintained trillion, compared to Rp21.4 trillion in 2019. SME
and even improved in the future. Banking implemented a strategy of prudence in its loan
disbursement and undertook effective restructuring
for debtors impacted by COVID-19. SME Banking has
achieved stability of credit quality as shown by its NPL
ratio that was kept below 3% in 2020 and 2019, booked at
2.8% and 2.2% respectively. The NPL ratio of CIMB Niaga’s
SME Banking portfolio performed better than NPL in the
SME industry based on OJK’s data, which stood at 4.0%
in 2020.

I Made Marjana, SE
Cahaya Silver Owner

Total Loans NPL Ratio

(Rp trillion) (%)
21.4 3.0
20.2 2.8
18.5
2.2
2018 2019 2020 2018 2019 2020
SME Banking succeeded in increasing customer deposits by 19.64% in 2020 to Rp30.5 trillion. Of this total, CASA
amounted to Rp20.4 trillion, resulting in a CASA ratio of 66.74%.
Overall, SME Banking unit booked profit before tax in 2020 of Rp1.1 trillion, of which the largest contribution came from
net interest income of Rp1.5 trillion compared to Rp1.6 trillion in the previous year.
Net Interest Income Profit Before Tax

1.59 1.22
1.51 1.15
1.04
1.29
2018 2019 2020 2018 2019 2020
In addition, the non-operating income of SME Banking unit posted a positive result of Rp0.16 trillion in 2020, compared
to Rp0.48 trillion in 2019.
Other Operating Income

(Rp trillion)
0.48
0.24
0.16
2018 2019 2020

TARGET, STRATEGY AND POLICY IN 2021

Entering 2021, SME Banking is focused on a strategy that
CUSTOMER TESTIMONY
emphasizes growth of SME loans while still adhering to
the prudential principles. This effort is undertaken by
Since 2015, I have been one of CIMB Niaga’s offering a number of competitive SME Banking products
customers in Padang. At first I was offered a and enhancing efficiency while still maintaining good
loan and it has continued since then. Since loan quality to achieve Bank profitability, encompassing:
becoming a CIMB Niaga customer, I have been 1. Loans and customer deposits growth, as well as fee-
well served. All my banking needs have been based products for both conventional and sharia
satisfactorily covered by CIMB Niaga through banking which have significant potential;
OCTO Mobile and OCTO Clicks so that I can 2. Increase cross-selling through attractive product
make transactions wherever I am located. The bundling programs that meet potential customer
features of OCTO Mobile and OCTO Clicks are needs for a one-stop-solution service;
very user friendly so that a person like me, 3. Explore opportunities to capitalize on the customer
who is not too familiar with technology, does bases of Corporate Banking and Commercial Banking
not find it difficult to learn both applications. in order to deepen the penetration of the SME
business through the value chain concept;
We hope that the CIMB Niaga Padang Branch 4. Maintain asset quality effectively and efficiently
in the future will provide preferred services to while at the same time acquiring new customers and
facilitate those of us who prefer to make cash engaging existing customers by still adhering to the
transactions in large amounts as well as to prudential principles; and
reduce the long queues at tellers upon cash 5. Improve processes continuously and focus on
counting. Thank you CIMB Niaga. potential branch offices with significant potential SME
customers to enhance effectiveness and efficiency
while simultaneously increasing productivity of SME
Banking.
Lily Sutejo
Director
PT Panda Indo Tunggal

CONSUMER BANKING
During 2020, global and domestic macroeconomic to identifying loan segments and portfolios using
conditions were overshadowed by the COVID-19 analytics, risk and relationship-based pricing to provide
pandemic. Nevertheless, Indonesia’s economic comprehensive banking solutions including funding,
indicators continued to show improvement in line transactions, and consumer loans.
with global economic recovery, and the government’s
response to various relaxation and stimulus policies to STRATEGIES AND POLICIES
promote national economic recovery. By the end of 2020, Amid the COVID-19 pandemic in 2020, Consumer
consumer mobility continued to improve, particularly in Banking set its focus, strategy and policies to address
the grocery and pharmacy sectors, retail and recreation, the present challenges and to provide the best banking
workplaces and transit stations. services possible, including:
1. Focusing on improving CASA & total funding.
To meet customer needs, Consumer Banking focuses on 2. Managing cost of funds and optimizing net interest
improving service quality. In addition, to achieve low-cost income.
financing growth and to ensure Bank liquidity adequacy 3. Improving banking services in line with commitment
for all business units, Consumer Banking continues to to developing digital services and customer
provide more competitive interest rates, in addition experience.

4. Expanding cooperation with developers and As for CIMB Niaga Sharia Business Unit (UUS), Consumer
property agents to improve the mortgage portfolio, Banking continues to implement strategies and policies
cooperation with dealers, and marketing activities to that focus on “Sharia First” both in terms of CASA, KPR,
increase auto loans with the aim of acquiring a bigger credit cards, and other sharia banking products. By
market share in facing a more competitive banking executing such strategies, the Bank has been able to
environment. record positive growth in Sharia Consumer Financing in
5. Implementing a more diverse marketing strategy for 2020. In addition, CIMB Niaga also penetrated the halal
Wealth Management products to become the Bank of sharia ecosystem through different customer approaches
choice for customers while continuing to implement in various segments, including the halal tours and travel
cross-selling/bundling programs. community, Islamic schools and halal lifestyle.
6. Adopting a Customer Obsession culture in which
customers are at the centre of the employees’ The COVID-19 pandemic has resulted in a decline in
activities. Adoption of Customer Obsession culture is Consumer Banking income before tax of 26.77% compared
expected to improve customer service and strengthen to 2019. Nevertheless, Sharia Consumer financing grew by
customer loyalty to CIMB Niaga. 15.91%, mainly due to mortgages that increased significantly
7. Improving the quality of human resources, particularly by 17.78%, reaching Rp14.6 trillion from to Rp12.4 trillion
marketing personnel in various segments such as in 2019. Meanwhile, the non-performing financing (NPF)
Preferred and Retail segments, with the ultimate goal of Sharia Consumers was recorded at 1.71% in 2020. CIMB
of achieving better business growth. Niaga also managed to record 28,915 customer accounts
who registered for the Haji pilgrimage in 2020, an increase
The banking sector is also facing business competition of 21.76% compared to 2019.
from various developing fintech companies that rely on
advanced technology in providing their financial services. PRIVATE BANKING
Therefore, in terms of marketing and distribution, Since its launch in 2002, the Private Banking service has
Consumer Banking focuses on improving digital banking provided Wealth Management services for its customers,
services with OCTO Mobile & OCTO Clicks, as well as serving their various needs through wide regional
differentiating CIMB Niaga from other banks. Taking networks in Singapore, Malaysia and Thailand (cross-
into account changes in customer behavior trends and border referral).
their preference for convenient real-time transaction
processes using mobile banking and internet banking. The investment philosophy of Private Banking is based
Through the OCTO Mobile & OCTO Clicks services, the on the Bank’s efforts to assist its customers to grow and
Bank expects to facilitate smooth customer transactions. protect their wealth, as well as to meet their long-term
investment goals. In the Private Banking segment, CIMB
During 2020, there were 20 million Consumer Banking Niaga understands that each individual is unique. As such,
transactions on the ‘API Banking’ platform. In addition CIMB Niaga offers comprehensive solutions that cover
to providing convenience and comfort for customers personal and business needs via a single point of contact.
when making transactions, the development of digital-
based products and services is intended to expand the PRIVATE BANKING STRATEGY AND POLICY
customer service network and improve the services Amid the COVID-19 pandemic, Private Banking continues
provided through the Bank’s branch offices. Going to improve its portfolio allocation strategy, and devise
forward, digital banking service development will be appropriate strategies and policies to mitigate risks and
the key to acquiring new customers and expanding the achieve optimal returns.
Bank’s customer base.

In 2020, Private Banking set the following business Non-Deposit AUM

(Rp trillion)
development strategies and policies:
4.3
1. Leveraging the ecosystem of the CIMB Group by 3.8 3.9
improving collaboration with sister companies and
other business units to create more integrated
customer services.
2. Working closely with qualified investment and
insurance managers to devise the best investment
strategy in providing Wealth Management product
services that are increasingly integrated and
competitive in the market. 2018 2019 2020
3. Providing estate planning services to assist customers
to grow a sustainable business.
4. Providing better and more innovative banking Private Banking recorded an operating income of Rp96.8
services to overcome potential challenges. billion in 2020, a 7.29% increase of Rp90.2 billion in 2019.
5. Continuing to provide training to Private Banking Fee-based income from wealth management products
Relationship Managers to ensure better customer still represented the largest portion of 55.08% from the
service. total operating income of Private Banking.
Operating Income
Private Banking offers the best products for its customers, (Rp billion)
including private bank accounts, time deposits, fixed 96.8
92.3 90.2
income products, foreign currency, mutual funds,
structure products, treasury products, and protection for
individuals, families and businesses as well as to the next
generations.
PRIVATE BANKING PERFORMANCE IN 2020

In order to enhance CIMB Niaga’s performance and
excellence, Private Banking implements a stronger
portfolio allocation strategy, and maintains good 2018 2019 2020
relationships with customers. As a result, Private Banking

was able to maintain business growth in 2020, with Asset
Under Management (AUM) increasing by 6.03% from Furthermore, Private Banking recorded a net interest
2019. income that amounted to Rp43.5 billion in 2020, a
20.66% increase from Rp36.0 billion in 2019 and profit
A significant increase was also recorded in Non-Deposits before tax of Rp78.1 billion in 2020, an increase of 9.53%
AUM amounting to Rp4.3 trillion in 2020, a 9.53% increase from Rp71.3 billion on the previous year.
from Rp3.9 trillion in 2019. Placement of customers’ bonds
and mutual fund portfolios also experienced growth in
the past year in line with the improved performance of
domestic bonds and stock markets. Meanwhile, customer
deposits amounted to Rp2.94 trillion in 2020, increasing
by 1.34% from Rp2.90 trillion in 2019.

Net Interest Income product an attractive option for the banking industry.
(Rp billion)
To address this, Consumer Banking has implemented
43.5
several strategies and policies that focus on improving
35.97 36.03
customer service.
The Mortgage segment is one of the focal points of

CIMB Niaga’s loan disbursement, since the portfolio
value continues to increase and this line of business has
a long term installment period of up to 25 years. Thus,
relationships with the customers must always be well
2018 2019 2020 established so as to provide cross-selling opportunities
for other CIMB Niaga products. CIMB Niaga also offers a
variety of Mortgage products tailored to the needs and
Profit Before Tax
(Rp billion) financial situations of each customer.
CAGR 2.57%
78.1 Consumer Banking offers KPR Xtra Benefits, which

74.2
71.3 provide convenience in offsetting the portion of interest
in installment resulting in larger principal repayments
allowing the Mortgage customers to pay off their
Mortgage faster. In addition, KPR Xtra Benefits can also
be linked to up to 9 savings accounts. In Sharia Mortgage
products, Consumer Banking offers the MMQ contract,
better known as KPR iB Flexi, which can be used to
purchase a home before construction and offers other
2018 2019 2020 Mortgage needs with a smaller down payment and a
longer term tenure.
PRIVATE BANKING STRATEGY AND FOCUS IN 2021 CIMB Niaga offers the Smart Rate Pricing scheme that
Private Banking has the following strategies for 2021: enables customers to have a clear reference when
- Continuing our main focus to provide the best determining floating interest rates from the loan
investment advisory to customers by selecting the commencement by using the Bank Indonesia 12-month
best investment products in the market based on Financial Instrument, which can be accessed directly on
customer profiles. the Bank Indonesia website. Overall, Consumer Banking
- Improve the penetration of Wealth Financing to continues to offer a variety of innovative and competitive
enhance customer portfolio performance and net products in the Mortgage segment.
interest income.
- Strengthen the relationships with customers by In 2020, CIMB Niaga conducted numerous promotional
providing solutions related to wealth transfers and activities by offering various Mortgage products and
estate planning for both personal and business achieving a higher Mortgage product awareness.
segments by collaboration with third parties. Despite the pandemic in 2020, CIMB Niaga’s Consumer
- Leveraging CIMB Group platform comprehensively to Banking Mortgage products recorded an increase in
provide financial solutions for customers. market share. One of the activities that CIMB Niaga KPR
performed to expand its market share was to strengthen
OPERATIONAL PERFORMANCE OF CONSUMER its partnership with developers, property agents and
BANKING SEGMENTS property associations through joint scheme agreements,
joint promotions and joint events.
MORTGAGE
Amid the COVID-19 pandemic, the growth in Mortgage
(KPR) on a national scale was only 2.8%. On the other
hand, the Bank is also exposed to a low ratio of home
ownership in Indonesia, which makes its Mortgage

CIMB Niaga has also conducted other exclusive promos processes and extended the loan installment period to
in cooperation with a number of well-known developers up to 25 years.
to provide more benefits for customers. CIMB Niaga
continues to maintain harmonious relationships with In 2020, CIMB Niaga managed to record mortgage
developers and competitive interest rates. To acquire portfolio loan growth of 5.92%, or equal to Rp2.0 trillion,
new customers, CIMB Niaga accelerated mortgage to become Rp35.8 trillion from Rp33.8 trillion in 2019.
Consumer Banking also recorded growth in Sharia
Mortgage loans, which increased by 17.78% to Rp14.6
trillion in 2020 from Rp12.4 trillion in 2019.
CUSTOMER TESTIMONY AUTO LOANS

Consumer Banking, in the Auto Loan segment, provides the
best possible solutions through a joint financing scheme
We, Ciputra Group, have collaborated with multifinance institutions that have a partnership with
with CIMB Niaga since 1995, particularly CIMB Niaga, including CIMB Niaga Finance (CNAF) as one
in providing credit facilities for the of the Bank’s subsidiary.
purchase of primary housing/property.
Such a collaboration was established as an In 2020, the Auto Loans recorded a 4.44% growth in
innovative project considering the fact that total loans to Rp6.8 trillion from Rp6.5 trillion (including
not many banks provided credit facilities for subsidiaries), while sharia schemes recorded Rp313
primary property in those years. billion, a decrease of 28.69% from Rp439 billion in 2019.
CIMB Niaga’s auto loans NPL-ratio maintained at 0.92%.
With innovative mortgage products offering
attractive features such as highly competitive CREDIT CARD AND DEBIT CARD
interest rates, affordable down payments, CIMB Niaga credit cards and debit cards remain in
and extended tenor, CIMB Niaga has become demand by the fast-growing middle class market in
the choice of customers for housing loans. Indonesia, providing easy transactions that support
customers’ activities and businesses. Nevertheless,
With its long experience in the banking the Consumer Banking credit card segment recorded
business supported by excellent service negative performance due to a decline in tourism and
and cooperation systems, Ciputra Group is shopping activities, both in the culinary area and travel
optimistic that CIMB Niaga will continue to businesses. The implementation of the Regional Large-
grow so that it remains the main choice for Scale Social Restriction (PSBB) policy in several regions
the community. in the first quarter of 2020 to reduce the spread of
COVID-19 had a significantly negative impact on tourism
spending. In addition, macroeconomic conditions
triggered a decrease in customers’ purchasing power due
to COVID-19. This has had an impact on the credit card
business, particularly on the sales volume.
Ibu Nanik J Santoso

Senior Director Ciputra Group
CIPUTRA GROUP (Partnership Developer of KPR
CIMB Niaga)

Despite the challenging conditions of 2020, CIMB Niaga various customer segments with different needs and
recorded an increase in its market share and was able to preferences.
maintain its position as one of the top-three players in
the credit card business. Moreover, CIMB Niaga has succeeded in becoming the
largest Sharia credit card provider in Indonesia. This
CIMB Niaga manages credit cards in several categories achievement is a result of shifting sharia products to all
including: Classic, Gold, Syariah Gold, Platinum, Precious, segments, both Moslem and non-Moslem, through an
Ultimate, Infinite, World and Corporate. These reach approach that can be accepted by all groups and circles.
In 2020, the total number of CIMB Niaga credit card

holders grew by 0.79% to approximately 2.62 million. The
total sales volume of credit cards reached Rp23.9 trillion
CUSTOMER TESTIMONY at the end of 2020, decreasing by 23.56% from Rp31.2
trillion in the previous year. The ratio of non-performing
Sinarmas Land has collaborated with CIMB loans was 0.72% improving from 1.48% in 2019.
Niaga for more than 10 years in various
strategic areas. CIMB provides a very good The CIMB Niaga debit card provides various benefits,
quality of service, particularly in the turn- including easy access to domestic and foreign ATM
around time for the approval process for networks and payment channels (EDC), online
KPR applications. We hope that in the future transactions supported by 3D security features, and
the collaboration between Sinarmas Land the latest features such as contactless debit cards
and CIMB Niaga will be even better, CIMB and affinity debit cards. In addition, CIMB Niaga offers
Niaga can become the first bank of choice various promotional programs and attractive offers
for customers who purchase Sinarmas Land from numerous merchant partners to attract customer
products, specifically those under KPR/KPA interest in CIMB Niaga’s debit cards. CIMB Niaga has
and KPT financing methods. We also hope also actively participated in Bank Indonesia’s National
that CIMB Niaga will continue to innovate Payment Gateway (GPN) card launching program by
and adapt to market conditions so that it printing more than 359 thousand NPG debit cards, a
can better serve CIMB Niaga customers and 55.03% increase from 231 thousand cards in 2019.
can continue to contribute to Indonesia’s
development. In 2020, CIMB Niaga had approximately 3.70 million
debit cards in circulation. The value of e-commerce
transactions using CIMB Niaga debit cards increased by
more than 43.11% from 2019, an increase in line with the
increase in online transactions.
WEALTH MANAGEMENT AND BANCASSURANCE

CIMB Niaga provides customers with a variety of Wealth
Management products that assist in planning, developing
and protecting customer assets and that ensure better
financial conditions in the long run. CIMB Niaga’s Wealth
Management & Bancassurance services are supported
by 11 investment managers, 1 securities company,
17 carefully-selected loss insurance partners, 8 life
insurance partners, and 1 reliable Treasury and Capital
Markets department.
Alim Gunadi
Managing Director Strategic Business & Services
Sinarmas Land
SINARMAS LAND (Partnership Developer of KPR
CIMB Niaga)

CIMB Niaga offers a variety of Wealth Management PERSONAL LOANS

products, including treasury products comprising Foreign CIMB Niaga continues to perform cross-selling initiatives
Exchange, Strike Currency, Market Linked Deposits, Swap to improve its personal loan performance. CIMB Niaga
Depos and bonds, mutual fund products, and insurance. provides loan facilities to CIMB Niaga customers with a
These products are designed to meet customer demands good track record through cross selling. This ensures
who intend to plan, develop and protect their assets to a well-maintained asset quality. CIMB Niaga has also
ensure better financial conditions in the future. CIMB implemented a loan disbursement strategy by offering
Niaga also has a bancassurance product which serves loans through branch offices and companies to provide
as one of the sources of fee income for CIMB Niaga employee payroll services through the Bank. In addition,
generated by the sales of general insurance and life CIMB Niaga also relies on efficient processes and the
insurance products in collaboration with insurance application of risk-based pricing to enlarge its market
company partners. share and achieve better performance.
At present, CIMB Niaga distributes Wealth Management In 2020, the performance of the Personal Loan business
products comprising 75 mutual fund products, which decreased by 10.10% from 2019, with personal loans
include 39 equity funds, 13 fixed income mutual funds, 15 recorded at Rp3.3 trillion, a decrease from Rp3.6 trillion
mixed mutual funds, and 8 money market funds. The Bank in 2019. This decline was due to a decrease in the new
actively markets its Bancassurance products as a strategy loan volume disbursements due to the tightening of
to diversify its streams of income from service fees. loan approval criteria during the COVID-19 pandemic to
maintain Personal Loan quality. Meanwhile, the gross
Consumer Banking markets a range of Bancassurance non-performing loan ratio in the Personal Loan segment
products through a wide branch office network and in 2020 increased to 2.38% from 1.97% in 2019.
telemarketing channels, which have been developed in
collaboration with insurance company partners such as SAVINGS PRODUCTS
Sun Life Financial Indonesia, AIA Financial and Sompo CIMB Niaga, through Consumer Banking, offers a number
Insurance Indonesia. The loss insurance products being of superior savings products for retail customers, supported
offered include Mortgage insurance (KPR), Auto Loans by the Dual Banking Products concept (Conventional and
(KPM) insurance and other similar products. Sharia). Consumer Banking provides savings products
to meet daily transaction needs, such as CIMB Niaga
In 2020, CIMB Niaga succeeded in increasing its sales of XTRA, which includes free hospitalization, life insurance
Wealth Management products, particularly investment and medical checkups, as well as time deposits to assist
products. More competitive investment product variants customers in meeting various needs, such as education,
resulted in the revenue generated from mutual funds by holidays, wakaf, umrah and pilgrimages. CIMB Niaga also
54.17% compared to 2019. In addition, income from other continues to acquire customers through its branches and
investment products, such as Market Linked Deposits and other channels, such as e-channels and strengthening the
Bonds, also increased by 63.42% in 2020. Overall, Wealth saving products features.
Management & Bancassurance products experienced a
16.57% growth in Assets Under Management (AUM) to
Rp28.9 trillion.

Throughout 2020, Consumer Banking implemented In addition to promotional programs to encourage

its savings product growth strategy that focused transactions and to drive higher minimum balances,
on acquiring new customers and accounts through CIMB Niaga also focuses on the customer experience by
e-channels and cross-selling. Attractive promotional providing in-bank and online services, such as super easy
programs have also been designed to increase customer opening of savings accounts via OCTO Mobile or OCTO
savings transactions, specifically through e-channels, and Clicks to provide a better customer experience than other
balances deposited in customer accounts. banks. It is expected that customers will share their positive
experiences with other potential customers. Consumer
Banking offers a number of product features tailored
to customer needs, as well as attractive promotional
CUSTOMER TESTIMONY programs. The growth of savings products has also been
encouraged through cross-selling efforts.
Since five years ago, I decided to make CIMB As at the end of 2020, Consumer Banking savings were
Niaga as the main bank since I was greatly recorded at Rp62.8 trillion, increasing by 11.44% from
helped by OCTO Mobile and OCTO Clicks. Rp56.4 trillion in 2019.
With a slick design, OCTO Mobile is perfect
for my daily financial needs starting from ASSET QUALITY
free transfers to all banks in Indonesia, In 2020, the increase of NPL displayed an upward trend in
widely-accepted QRIS shopping and also the banking industry. Consumer Banking also continued
many promos to answer my savings needs to improve its asset quality with a maintained level of a
with various solutions such as deposits, non-performing loan (NPL) ratio of 1.85%, a decrease from
mutual funds and bonds (my favorite is Retail 2.04% in 2019. This improvement was mainly due to the
SBN). I use OCTO Clicks for more complex restructuring of 4.71% of Consumer Banking customers
transactions and also financial check-ups to during the pandemic period, which significantly impacted
monitor my financial progress. CIMB Niaga is customer income. This restructuring measure was
getting more advanced and continues to be designed to support customer cash flow during the
the number one pioneer in digital banking! pandemic. For CIMB Niaga, customer loyalty is far more
important than pursuing short-term margins.
DIGITAL BANKING SERVICES

The need for banking services during the pandemic
continues to rise. For this reason, CIMB Niaga continues
to deliver banking products and services that are relevant
to customer needs in the digital era. CIMB Niaga also
strives to maintain its performance amid the COVID-19
pandemic. The Bank has strengthened its digital banking
platforms, including OCTO Clicks and OCTO Mobile.
Both digital channels serve as one-stop mobile financial
solutions that can meet customers’ financial needs.
These digital channels are designed to serve and adapt
to customer preferences.
Rannia Tanudjaja
Finance Manager
PT OYO Rooms Indonesia

In addition, Consumer Banking optimized the ‘API The development of electronic distribution channels
Banking’ business by the end of 2020 to achieve the goal (Branchless Banking) is one of the Bank’s strategies to
of becoming the leading digital banking service provider. seize future growth opportunities, specifically in terms of
Throughout 2020, Consumer Banking recorded 20 million individual customers who are expected to increase their
transactions on the ‘API Banking’ platform, an increase use of technology, including their banking transactions.
from 9.8 million transactions in 2019. CIMB Niaga developed the branchless banking services
concept, where digital technology plays a role in
In the future, CIMB Niaga expects that banking services helping customers to be more practical and efficient in
on the Fintech or Startup application will be more user- performing banking transactions, including Consumer
friendly. In addition to providing transaction comfort and Banking business. The primary philosophy that drives
convenience for customers, the development of digital- branchless banking is to provide services and facilities to
based products and services also aims to expand the CIMB Niaga customers.
customer service network and complement the services
provided at CIMB Niaga branch offices. The development Banking transaction service processes can be conducted
of digital banking services will be increasingly relied upon anywhere without a physical presence at a branch office.
as an alternative for expanding the Bank’s customer This is expected to increase CASA and cost efficiency
base. at branch offices. CIMB Niaga plans to create a future
branch office, namely CIMB Niaga Digital Lounge, to
BRANCH OFFICE NETWORK AND DEVELOPMENT bring together the latest technology and provide a faster
OF BRANCHLESS BANKING banking experience for retail customers.
In 2020, CIMB Niaga had an office network of 451
conventional and sharia branch offices equipped with In order to improve customer services, CIMB Niaga has
4,316 ATM units and 934 CDM and CRM units throughout made necessary renovations and relocations of several
Indonesia. CIMB Niaga will continue to optimize its branch offices to better and more strategic locations and
branch network by re-evaluating its adequacy, as well as buildings. Optimization is also conducted by increasing
shifting banking transactions to the Branchless Banking the number of Human Resources Relationship Managers,
channel. both permanent staff and third parties, as a part of

branch network development, as well as adding other CIMB Niaga offers various service channels; branch
alternative channels such as the Digital Lounge, Mobile offices, the Digital Lounge, a 24/7 Contact Center, a
Cash, and ATMs with a withdrawal and deposit system to Website, email 14041@cimbniaga.co.id, Live Chat, and
facilitate customer transaction needs. social media accounts such as Facebook, Twitter and
Instagram. With the active role of the Customer Care unit,
In addition, CIMB Niaga also manages Digital Lounge which involves participation from all front/middle/back
through the Digital Banking Manager, which provides office units, customer requests and customer complaints
solutions for individual banking customers. The Digital are resolved in a timely manner (achievement level of
Lounge is a cutting-edge technology that facilitates 94% in 2020).
customer banking transactions at strategic locations,
with long operating hours and more flexibility regarding When making process improvements, CIMB Niaga refers
services on holidays. The Digital Lounge service supports to the Voice of Customer (VoC), which holds information
the Bank’s Digital Consumer Banking development about customer complaints, and the annual survey called
strategy. In 2020, the Bank opened Digital Lounges in the Net Promoter Score (NPS), which measures the level of
following locations: customer loyalty and satisfaction with products, channels
1. Digital Lounge @ Campus – Fisip UI (Depok) and quality of service. In 2020, CIMB Niaga’s NPS score
2. Digital Lounge Mall – Lippo Mall Puri (Jakarta) was 24%, an increase of 6% from 2019 and the customer
3. Digital Lounge Mall – Aeon Sentul (Bogor) satisfaction score in 2020 was 86%, an increase of 6%
4. Digital Lounge Mall – Pakuwon City (Surabaya) from 2019.
5. Digital Lounge Mall – Malioboro Mall (Jogjakarta)
6. Digital Lounge Mall – Tentrem Mall (Semarang) In the effort to provide a better banking experience,
CIMB Niaga has optimized its Customer Relationship
In total to date, the Digital Lounge has 38 branches. Management (CRM) system to obtain comprehensive
information about its customers. This has enabled
Other Branchless Banking services for retail customers front-liners to provide personalized services to their
include: internet banking OCTO Clicks, OCTO Mobile customers. In 2020, a new feature was introduced in
banking, Mobile Account, Phone Banking 14041, Preferred the CRM system, namely a service module as an end-to-
Phone Banking, OCTO Pay, and ATM services. CIMB Niaga end service platform for both individual and corporate
continues to maintain its performance by being one of customers. The system will be developed further to
the leading banks in Indonesia that promotes Branchless ensure that it stays up-to-date.
Banking, as demonstrated by the increasing number of
Branchless Banking service transactions from year to In 2021, CIMB Niaga will implement the following strategy:
year. 1. Expanding the scope of VOCs with more indepth
information in order to provide services based on
QUALITY OF SERVICE AND MANAGEMENT OF customer profiles.
CUSTOMER COMPLAINTS 2. Strengthening customer analysis with the assistance
The customer experience serves as the key integrated of voice analytics technology and social media
aspect in CIMB Niaga’s Banking policy to provide an information.
advanced service to customers. To manage the customer 3. Strengthening the Bank’s corporate culture with the
experience, CIMB Niaga has made developments such as Customer Obsession mindset to ensure that each
accelerating service processes, and improving customer CIMB Niaga employee provides the best possible
convenience and transaction security in all existing customer service.
banking channels. To provide customer convenience,

2020 PERFORMANCE
Amid the COVID-19 pandemic, the consumer segment at country level has stagnated and even experienced a decrease.
Nevertheless, CIMB Niaga recorded a positive Consumer Banking performance in 2020.
CONSUMER BANKING LOANS

In 2020, Consumer Banking recorded an increase in consolidated loan disbursement by 1.69%, or Rp0.9 trillion, from
Rp54.3 trillion in 2019 to Rp55.2 trillion. Such growth was mainly due to a 5.92%, or Rp2.0 trillion, increase in housing
loans from Rp33.8 trillion to Rp35.8 trillion. Meanwhile, the Auto Loans business recorded an increase of 4.44%, or
Rp287 billion, to Rp6.8 trillion from Rp6.5 trillion in 2019.
Consumer Banking also recorded a positive performance in other sectors such as credit cards, KTA or personal loans,
multipurpose loans and others, which recorded a slight decline. Furthermore, Consumer Banking also maintained a
positive performance in relation to the non-performing loan ratio (NPL), which stood at the level of 1.85% in 2020, down
from 2.04% at the end of 2019.
NPL Ratio - Gross Total Loans

(%) (Rp trillion)
2.48 54.3 55.2
49.1
2.04
1.85
2018 2019 2020 2018 2019 2020
Growth (%)
Consumer Banking Loan (Rp billion) 2020 2019 2018
2020-2019 2019-2018
Mortgage 35,782 33,783 30,022 5.92 12.53
Auto Loans 6,750 6,463 6,215 4.44 3.99
Credit Cards 8,891 9,696 8,600 (8.30) 12.75
Personal Loans 3,271 3,638 3,364 (10.10) 8.14
Multipurpose and Others 511 705 887 (27.49) (20.46)
Total 55,206 54,286 49,088 1.69 10.59
CUSTOMER DEPOSITS
In 2020, Consumer Banking recorded growth in total customer deposits by 1.24%, or Rp1.3 trillion, to Rp106.0 trillion
from Rp104.7 trillion in 2019. This was driven by CASA growth of 10.98%, a focus of growth for low-cost funds at CIMB
Niaga. The increase was also driven by the growth of savings products by 11.44%, or Rp6.4 trillion, to Rp62.8 trillion in
2020 from Rp56.4 trillion in 2019. The CASA ratio achieved by Consumer Banking in 2020 was 61.10%.

Customer Deposits
(Rp trillion) STRATEGY AND FOCUS IN 2021
104.7 106.0 Going forward, Consumer Banking has a number of
96.5
strategies, including:
1. Consistently and sustainably focusing on CASA
growth.
2. Focusing on Mortgage portfolio growth through
cooperation with Developers, Property Agents, and
internal referral staff through the Staff Get Member
(SGM) program.
3. Commitment to developing digital services and
2018 2019 2020
improving the customer experience by calculating
and using the net promote score (NPS) method,
which the Bank has used for the past three years.
CONSUMER BANKING REVENUE 4. Improving excellence through digital channels. After
In 2020, Consolidated Consumer Banking recorded a the pandemic, it is expected that many customers
decrease in income before tax of 26.77%, reaching Rp2.2 and prospective customers will become accustomed
trillion from Rp3.0 trillion in 2019. to making transactions through digital channels.
Accordingly, Consumer Banking, has noted these
Profit Before Tax
(Rp triliun)
potentials, and will continue to focus on the utilization
3.0 of information technology.
2.5
5. Entering a number of various Moslem communities in
2.2 various fields since the market potential of the halal
industry in Indonesia is high, yet Sharia banking has
not explored such potential to its maximum.
2018 2019 2020

SHARIA BANKING
CIMB Niaga’s Sharia Business Unit (SBU) specifically and restructuring related to the impact of COVID-19
operates in compliance with sharia principles. Currently, with the aim of maintaining quality of financing and the
CIMB Niaga SBU is the largest SBU in terms of total adequacy of Allowance for Impairment Losses (CKPN),
assets in Indonesia which enables us to provide more as well as monitoring customers under its relaxation
comprehensive Sharia banking services. Supported and restructuring scheme. In addition, financing positive
by the Bank’s infrastructure as the leading and most growth has been driven by increasing contributions
comprehensive digital banking service provider, CIMB from the consumer segment, which has been the focus
Niaga SBU continues to develop new and innovative of development for market acquisitions along with the
products to better serve its customers and reach out SME segment. As for customer deposits, the focus has
to all customer segments with sharia-specific products remained on the acquisition of low-cost funds and the
with added value not offered by conventional banking. development of community ecosystems to support the
CIMB Niaga SBU conducts its business in accordance sustainable growth of CIMB Niaga SBU assets.
with sharia principles and its advantages and is able to
compete with conventional products. To strengthen its position in the banking sector in 2020,
CIMB Niaga SBU executed strategies and adopted
STRATEGY AND POLICY policies that focused on developing the Dual Leverage
Amid the COVID-19 pandemic, CIMB Niaga SBU has Banking Model (DBLM) supported by implementation of
recorded a positive performance while projecting a the existing Syariah First program. The success of CIMB
conservative business portfolio growth. As for financing, Niaga SBU in meeting its asset growth target was driven
CIMB Niaga SBU has been focusing on financing relaxation by the Bank’s focus on increasing the level of low-cost

funds portion from its customer deposits. CIMB Niaga 1. Automation of Hajj incentives
SBU maintains adequate allowance for impairment of Improvements in Service Level Agreements (SLA)
assets and a capital adequacy ratio above 14% against for Hajj incentive payments through the automation
RWA. of Hajj incentive claims in the core system to
enable larger storage of claims and more accurate
In 2020, CIMB Niaga SBU continued to perform process calculations.
improvements which included developing, digitizing and
automating the following processes: 2. Treasury Islamic Gross Yield Distribution (GYD)
Automation
Changes in the calculation mechanism of the Gross
Yield Distribution (GYD) of the Islamic Treasury
CUSTOMER TESTIMONY portfolio and income. These are now automatically
entered into the Bank’s core system.
The success of Tokopedia so far has also been 3. Automation of the Payment Schedule of Financing
supported by good cooperation with CIMB Development of an automated system for installment
Niaga Syariah which was established in 2018. schedules.
CIMB Niaga Syariah is also the first sharia
giro account owned by Tokopedia whereby 4. Automation of conversion of Sharia Overdraft Loan
CIMB Niaga Syariah maintains a good cash (PRK)
management system and competitive rate Easier conversions of existing conventional Overdraft
indicators. Loans (PRK) into Sharia Overdraft Loans (PRK). The
system has been developed to enable automatic
We would like to express our appreciation conversion of conventional current accounts and
and satisfaction for the good relationship overdraft loans to Sharia.
between CIMB Niaga Syariah and Tokopedia
whereby CIMB Niaga Syariah is one of the 5. Automation of Siskopatuh (Umrah)
banking partners that has been able to Readiness of CIMB Niaga SBU in 2021 to become
provide a good service so far. Hopefully the the deposit-receiving bank that serves as host
existing collaboration will continue and both to host between customers with the Ministry of
parties can mutually build on each other to Religious Affairs, Umrah Travel, and Travel Insurance
make it even better in the future. companies. It is expected that in the future, the Bank
will experience growth in its fee-based income from
Umrah transactions.
Pursuant to the Bank Indonesia Regulation No. 11/10/

PBI/2009 concerning Sharia Business Units (UUS), as well
as internal policies, CIMB Niaga SBU implements DBLM
as its business model to accelerate growth and provide
more comprehensive services to customers. Under the
DBLM, CIMB Niaga SBU is allowed to utilize and optimize
the human resources and infrastructure owned by CIMB
James Firdaus Resman

VP of Finance
Tokopedia

Niaga. Supported by the implementation of the Syariah First program in 2020, all units (leveraging units) at CIMB Niaga
were encouraged to prioritize supporting sharia banking activities in accordance with each unit’s responsibilities.
COMPLIANCE AND IMPLEMENTATION OF THE SHARIA GOVERNANCE FRAMEWORK

CIMB Niaga SBU consistently and continuously supervises the compliance of sharia principles in all units through Sharia
Supervisory Board (DPS) activities carried out by the Sharia Advisory Group as an extension of the DPS. The Sharia
Supervisory Board actively reviews sharia banking activities and processes to ensure compliance with the prevailing
regulations and fatwa from DSN-MUI. CIMB Niaga SBU has also prepared a general Sharia compliance policy and
standard operating procedures to ensure that its activities are conducted in accordance with sharia principles.
PERFORMANCE 2020
In 2020, CIMB Niaga SBU recorded a financial performance as follows:
in billion Rupiah
Growth (%)
Sharia Business Units (SBU) Performance 2020 2019 2018
2020-2019 2019-2018
Assets 44,783 42,493 34,377 5.39 23.61
Financing Disbursements 31,932 33,098 26,511 (3.52) 24.85
- Corporate 10,733 12,432 11,047 (13.67) 12.54
- Commercial 4,177 5,745 4,176 (27.29) 37.57
- Small and Medium Scale Businesses 1,200 1,269 1,377 (5.46) (7.84)
- Consumers 15,822 13,651 9,910 15.91 37.75
Customer Deposits 29,825 32,585 23,706 (8.47) 37.45
Income before Tax 1,350 1,149 702 17.56 63.69
Non Performing Financing (NPF) 1.10% 0.98% 0.98% 0.12 0.00
ASSET GROWTH
At the end of 2020, the total assets of CIMB Niaga SBU growth was largely influenced by Indonesia’s economic
were Rp44.8 trillion, a 5.39% growth from the previous conditions which were affected by the outbreak of the
year. This growth was supported by an increase in the COVID-19 pandemic. The decline was also driven by
composition of Current Accounts and Savings from total negative growth in corporate, commercial and small-
Customer Deposits to 47.43% or up 16.14% compared medium scale business financing with a total decline of
with the previous year. Meanwhile, financing decreased Rp3.3 trillion, or 17.16%, from the previous year. However,
by 3.52% to Rp31.9 trillion from 2019. The increasing consumer financing experienced significant growth of
portion of current accounts and savings from customer Rp2.2 trillion, or 15.91%, from the previous year. The
deposits has enabled CIMB Niaga SBU to benefit from a slowdown of financing growth in 2020 was due to a
lower-cost source of funds for its financing disbursement, shift in focus from growth to stimulation programs and
thus strengthening the position of CIMB Niaga SBU as the supporting our customers to enable them to get through
leading Sharia Business Unit in Indonesia. COVID-19 while maintaining their good quality financing,
through various of COVID-19 stimulus program.
FINANCING
In December 2020, CIMB Niaga SBU financing The largest growth based on the financing volume was
disbursement was recorded at Rp31.9 trillion, decreasing from the Consumer segment, which grew by Rp2.2 trillion,
by 3.52% from the 2019 position. Such negative or 15.91%, from 2019. However, the Corporate segment

experienced a decline, whereby the total volume of financing in 2020 decreased by Rp1.7 trillion or 13.67%. The volume in
the Commercial segment also experienced a decline in 2020, decreasing by Rp1.6 trillion or 27.29%.
The Bank’s financing portfolio is supported by the “Syariah First” program and the Dual Business Leveraging Model
(DBLM), in which all units prioritize the sales of sharia products. CIMB Niaga SBU also implements the Syariah First
Program in its business support (middle-end, back-end) to enable better performance of the booking process for sharia
accounts. CIMB Niaga SBU also performs its supervisory function through the Sharia Advisory unit to ensure compliance
with sharia provisions, particularly for customers in both corporate and commercial segments with complex financing
needs.
Table of Sharia Financing Disbursements by Segment

in billion Rupiah
Growth (%)
Sharia Financing 2020 2019 2018
2020-2019 2019-2018
Corporate 10,733 12,432 11,047 (13.67) 12.54
Commercial 4,177 5,745 4,176 (27.29) 37.57
SME 1,200 1,269 1,377 (5.46) 7.84
Consumer 15,822 13,651 9,910 15.91 37.75
Total 31,932 33,098 26,511 (3.52) 24.85
CUSTOMER DEPOSITS
CIMB Niaga SBU customer deposits in December 2020 totalled Rp29.8 trillion. This represents a decrease of Rp2.8
trillion, or 8.47%, from Rp32.6 trillion in 2019.
Savings products increased by Rp3.1 trillion, or 41.95%, to Rp10.5 trillion. Current accounts also increased by Rp0.9
billion, or 30.32%, to Rp3.7 trillion from 2019. However, time deposit products experienced a negative growth of Rp6.7
trillion, or 29.97%, to Rp15.7 trillion from the 2019 position.
Efficiency in cost of fund also became a focus during the COVID-19 pandemic. In addition, in terms of raising CASA
Sharia funds, there was an increase as reflected in the improvement in the CASA ratio to 47.43% in December 2020,
compared to 31.29% in December 2019.
Table of Sharia Customer Deposits by Segment

in billion Rupiah
Growth (%)
Sharia Customer Deposits 2020 2019 2018
2020-2019 2019-2018
Corporate 9,160 11,177 8,413 (18.04) 32.85
Commercial 2,568 2,647 1,419 (2.99) 86.58
SME 4,397 3,252 2,654 35.18 22.56
Consumer 13,700 15,509 11,221 (11.66) 38.22
Total 29,825 32,585 23,706 (8.47) 37.45

NON PERFORMING FINANCING SHARIA BANKING PROFIT BEFORE TAXES

Maintaining a healthy assets quality became a focus During 2020, CIMB Niaga SBU managed to record profit
during the COVID-19 pandemic, UUS CIMB Niaga before taxes amounting to Rp1.4 trillion. This figure
prioritizes the principle of prudence in managing its represents 101.2% of the December 2020 target of Rp1.3
financing portfolio. In addition, CIMB Niaga SBU has also trillion. CIMB Niaga SBU booked profit before taxes of
launched a number of COVID-19 stimulus programs with Rp 1.4 trillion, or increased 17.56% from Rp1.1 trillion in
the aim of assisting its customers through the COVID-19 2019. This growth was driven by an increase in revenue
pandemic. In 2020, CIMB Niaga UUS recorded a gross after the distribution of profit sharing by Rp212 billion,
Non-Performing Financing (NPF) ratio of 1.1%, a slight or 17.37% higher compared to 2019 achievement.
increase from 1.0% in previous year. This NPF ratio is
still relatively conservative compared to other major REALIZATION AND PROFIT-SHARING
players in the Sharia Banking industry, given the on-going CALCULATION METHOD
COVID-19 pandemic. In adherence with the principles of transparency and
measurability, CIMB Niaga SBU profit sharing calculations
To maintain productive asset quality, CIMB Niaga SBU has and policy refer to fatwa Sharia National Board (DSN) and
increased its cooperation with the Loan Work Out (LWO) guidance set forth in the Sharia Accounting Standards. The
team to ensure restructuring and collectability of the provision of profit sharing to customers is based on sharia
problematic or non-performing financing and marginal principles in accordance with the ratio determined upon
accounts. In addition, CIMB Niaga SBU continue to improve signing the fund placement agreement. CIMB Niaga SBU
its business processes. One of the improvements was the issues a monthly circular regarding the business unit’s
Sharia Acceptance Criteria (SAC) to streamline the process income with a percentage to be used as the basis for profit
of verifying business conformity with sharia principles. sharing distribution. In addition, the circular also provides
This has improved the product sales process, empowering information regarding the nisbah for the following month.
related units to review the compatibility of Sharia products
offered to customers.
In 2020, the realization of the Gross Yield Distribution (GYD) of CIMB Niaga SBU was as follows:
GYD
2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020
Rp 8.01% 7.96% 8.52% 7.72% 7.35% 7.34% 7.39% 7.15% 6.99% 6.68% 6.54% 7.01%
USD 3.36% 3.46% 4.43% 4.21% 3.89% 4.04% 3.96% 3.87% 3.83% 3.43% 3.11% 3.69%
COLLECTION AND DISBURSEMENT OF ZAKAT, INFAQ, AND SEDEKAH (ZIS)

The Bank’s ZIS fund comes from the zakat, infaq and sedekah paid by the customers. Zakat payments are derived
from the Zakat of profit sharing received by customers as well as other Zakat. The amount of Zakat deducted for profit
sharing is based on customer instructions at the opening of the account, with the Zakat distributed to the LAZ account
selected by the customer. The ZIS payment is made via a number of methods, including Online Virtual Account, Auto
Debit Facility, and Cash Deposit.
In 2020, CIMB Niaga SBU gathered ZIS funds amounted to Rp791 million and disbursements amounted to Rp560 million.
The funds were channeled through the Lembaga Amil Zakat (LAZ), which collaborates with CIMB Niaga SBU.
In addition to ZIS, CIMB Niaga is also a Lembaga Keuangan Syariah Penerima Wakaf Uang (LKS PWU) which partners
with 20 waqf institutions (nazhir) and has responsibilities for receiving waqf from the community through products and
channels for collecting waqf funds and waqf by money. Waqf funds that were immediately credited to the account of the
waqf institution in CIMB Niaga SBU. The value of waqf received by the waqf institutions increased by 87.79% or Rp3.5
billion in 2020 compared to Rp1.8 billion in 2019.

Source and Disbursement of Zakat Donations
CUSTOMER TESTIMONY in millions Rupiah
Opening Balance (As at 31 December 2019) 607.1

As a Muslim I noted that finding a Sharia Income of Zakat Fund from:
bank that can personalize Sharia principles
a. Internal SBU -
which I believe in is not an easy matter. Only
b. External SBU 791.3
CIMB Niaga Syariah has been able to meet
Total Income 791.3
these needs, with the best service. The CIMB
Niaga Syariah team finds suitable products Disbursement of Zakat to Zakat Management
Organization
and continues to adhere to the principles of
a. Lembaga Amil Zakat (LAZ) (560.0)
Sharia that I believe in. My satisfaction and
b. Badan Amil Zakat (BAZ) -
comfort with quality services and products
make CIMB Niaga Syariah a trusted place c. Other -
for me to carry out banking activities for my Total Disbursements (560.0)

personal or business. CIMB Niaga Syariah is Increase/Decrease in Zakat Fund 231.3
a bank with strong foundation and banking Ending Balance (As at 31 December 2020) 838.4
experience that deserves to be internationally
recognized.
SOURCE AND UTILIZATION OF THE
I believe CIMB Niaga Syariah can maintain BENEVOLENCE FUND
its service quality and become the leading In addition to facilitating ZIS and Waqf payments, CIMB
Sharia bank in the country, so that Moslems Niaga SBU also manages the Benevolence Fund, which is
have their own trusted place in conducting largely derived from fines/penalties imposed on financing
banking activities in accordance with the customers. The amount of the financing penalties is
principles of Sharia that they believe in. based on a system embedded within the core banking
system.
The Benevolence Fund is channelled into pre-arranged

programs to improve the welfare, education and
health of certain community groups and individuals.
The Benevolence Fund is divided into three (3) namely
Productive Benevolence Fund, Social Fund/Donation and
other use for public purposes. In practice, the distribution
of social funds is governed by a SOP for the distribution
of internal benevolent funds that has been approved
by the Sharia Supervisory Board (DPS). Benevolence
funds are distributed to 5 (five) main sectors, namely:
economic community development, education, health,
infrastructure, and social activities. In 2020, the social
funds were also used to address issues associated with
COVID-19.
In 2020, CIMB Niaga SBU gathered Rp10.0 billion for the

benevolence fund, and distributed it to various sectors
previously mentioned through Social/Donation funds
amounting to Rp6.8 billion as well as for other public
Trisha Chas purposes amounting to Rp9.6 billion with a total usage
Director amounting to Rp16.4 billion in 2020.
PT Zeta Eka Tunas Adika (Zeta Bags)

Source and Utilization of Benevolence Fund OFFICE NETWORK AND DISTRIBUTION

CIMB Niaga SBU utilizes various facilities to provide
in millions Rupiah Sharia banking services to the public, both through
branch offices under Sharia Business Units (Sharia
Opening Balance (As at 31 December 2019) 29,276
Branch Offices), and through Parent Entity facilities
Income from Benevolence Fund utilized by CIMB Niaga SBU under the implementation of
a. Infak and Sedekah - DBLM. At the end of 2020, CIMB Niaga SBU owned 28
b. Reimbursement of Productive Benevolence Fund 40 office networks, comprising of 24 main branch offices, 1
c. Penalty 9,920 (one) Sharia sub-branch office, and 3 (three) Sharia cash
d. Non Halal Income - offices. These offices were located across 19 provinces
e. Other 20
covering 9 regions. In addition, CIMB Niaga SBU offered
Sharia banking products in 384 Sharia service networks
Total Income 9,980
covering 29 provinces in Indonesia.
Utilization of Benevolence Fund
a. Productive Benevolence Fund -12
b. Donation -6,764
c. Other (Public) -9,624
Total Utilization -16,400
Increase/Decrease of Benevolence Fund -6,420
Ending Balance (As at 31 December 2020) 22,856
Sharia Office Network
Sharia Office Network 2020 2019 2018

Sharia Main Branches (KCU) 24 24 24
Sharia Sub Branches (KCP) 1 1 -
Sharia Cash Offices (KKS) 3 3 3
Sharia Payment Points - - -
Sharia Office Channeling (OC) 384 390 441
PLAN, STRATEGY AND POLICY IN 2021 In general, CIMB Niaga SBU policy is designed to support
Going forward, CIMB Niaga SBU will continue to the achievement of its Parent Bank’s vision to become
strengthen its business growth and develop its DBLM a financial intermediary institution based on Sharia
development. It will also continue to develop new Sharia principles. This policy includes:
products to replace conventional products, as well as 1. Improving business volume, profitability, market
Sharia-specific products with added value that are not share, and public awareness by capitalizing on the
offered by conventional banks. In addition, CIMB Niaga strength of the parent entity and optimizing the
SBU has prepared a road map and strategic plan that is implementation of the Dual Banking Leverage Model.
set forth in a comprehensive framework for preparing 2. Penetrating a wider market by launching more
future business plans. innovative banking products that aligns with the UUS
strategy and public needs.

3. Managing business risk by diversifying the collection

and distribution of funds, improving business process
flow, and receiving capital support from the Parent
Bank.
4. Managing compliance with prevailing regulations
and adopting the principles of Good Corporate
Governance.
5. Improving customer satisfaction and loyalty.
6. Maintaining and ensuring Sharia compliance in the
implementation of all Sharia banking activities across
all business units, including human resources training
to conduct Sharia banking activities.
7. Developing Sharia-specific products with higher
added value than conventional banking products.
8. Preparing financial foundations, infrastructure
readiness, business models, operational models,
human resources, variety of products and completing
policy procedures to spin-off the Sharia unit of CIMB
Niaga.

FINANCIAL REVIEW
The following financial review refers to the Consolidated Indonesia’s economy contracted by 2.07% in 2020, in
Financial Statements of PT Bank CIMB Niaga Tbk and its contrast of growth of 5.02% in the previous year. Average
subsidiaries for the year ended 31 December 2020. The rate of inflation in 2020 was 1.68%.
Consolidated Financial Statements are prepared by the
Bank’s management in accordance with the Financial
Accounting Standards in Indonesia, and audited by KAP Amid the challenging condition, CIMB Niaga continued
Tanudiredja, Wibisana, Rintis & Partners, member firm to post several positive financial results in 2020. On the
of the global PwC network (Drs. Irhoan Tanudireja, CPA balance sheet, the Bank’s total assets grew by 2.36% to
as partner in charge), an independent auditor, based Rp280.9 trillion from Rp274.5 trillion in 2019. Customer
on Auditing Standards set by the Indonesian Institute of deposits grew by 6.10% to Rp207.5 trillion from Rp195.6
Certified Public Accountants, with an unqualified audit trillion in the previous year. The increase in customer
opinion. deposits was mainly driven by the growth of Current
Account and Savings Account (CASA), which grew by
OVERVIEW OF FINANCIAL PERFORMANCE 14.28% to Rp123.7 trillion from Rp108.3 trillion a year
2020 was a year of many challenges. COVID-19 pandemic ago. This brought the ratio of CASA to total customer
had slowed down global and national economies. deposits to 59.62% in 2020, compared to 55.35% the year
before.

Time deposits amounted to Rp83.8 trillion, declining from for impairment losses in financial and non-financial assets
Rp87.3 trillion. In addition to CASA and time deposits, increased by 65.94%. We also implemented SFAS 71 in
CIMB Niaga also diversified its funding base to include relation to recognition and measurement for allowance
the issuance of debt securities totaling Rp1.0 trillion, for impairments losses for financial instrument effective
all of which received ratings of idAAA from PT Pefindo. on 1 January 2020. As at year-end 2020, CIMB Niaga
Meanwhile, total outstanding loans in 2020 amounted to posted a net profit of Rp2.0 trillion for the current year,
Rp174.8 trillion, down from Rp194.2 trillion in 2019. compared to Rp3.6 trillion in 2019.
On the profit and loss statement, in 2020 CIMB Niaga As a result of all of the above, CIMB Niaga succeeded in
posted a net interest income and non-interest income of maintaining its position as the second largest privately-
Rp12.5 trillion and Rp3.9 trillion, respectively, compared owned bank in Indonesia in terms of total assets. To
to Rp12.6 trillion and Rp4.3 trillion, respectively, in 2019. support the continuing growth of its business, CIMB
Operating income amounting to Rp16.4 trillion consist Niaga will continue to undertake a number of initiatives
of net interest income and non-interest income. Total to take the Bank to its next phase of growth.
operating expenses declined by 2.11%, while provisioning
2020 STRATEGY
In general, the COVID-19 pandemic negatively affected Faced with the rapid evolution of technology, CIMB Niaga
Bank’s asset quality. Facing this pandemic and other constantly strives to seek opportunities to optimize the
macro economic challenges, CIMB Niaga re-calibrated use of technology and information by developing its
its strategy and implemented policy changes aimed digital channels, which consist of OCTO Mobile, OCTO
at managing asset quality by focusing on helping Clicks, BizChannel@CIMB and others. CIMB Niaga fully
its customer navigate through a difficult operating understands the importance of leveraging information
environment. The 5 pillar strategy of CIMB Niaga is even technology to support the banking business. CIMB Niaga
more relevant during this pandemic. The 5 pillar strategy added many new features in 2020, including e-wallet top
includes Playing to Our Strengths, Expanding CASA, up, retail bond purchase, foreign exchange transactions,
Discipline in Cost Management, Preservation of Capital mutual funds subscription and QR e-commerce
and Balanced Risk Culture, and Leverage Information transactions.
Technology.
To expedite execution of the 5 pillar strategy, CIMB Niaga
CIMB Niaga was able to maintain its position as the second continued its transformation program in every business
largest privately-owned bank in Indonesia. CIMB Niaga segment focusing on improving customer journey,
also earned ‘The Most Helpful Banks During COVID-19 in leveraging information technology, optimizing business
Indonesia’ Award from The Asian Banker. In addition, the processes, and many others.
Bank succeeded in increasing the composition of CASA
ratio to 59.62% in 2020 from 55.35% in the previous year.
The Bank improved its capital adequacy (CAR) to 21.92%
in 2020 from 21.47% in 2019.

ELECTRONIC NETWORK COVERAGE EXPANSION
Throughout 2020, CIMB Niaga continued to prioritize CDM and CRM

customer satisfaction by providing the best services
1.0
to more than 7 million customers, supported by 451
0.9
branches and network of 4,316 ATMs, 934 CDM (including
CRM), 38 Digital Lounges, 33 Mobile Branches and 12,899 1.0 30.5
employees (including Subsidiaries) across Indonesia. The 25.7 Number of CDM & CRM (in thousand)
following are details of CIMB Niaga’s electronic network 21.0
Transaction Volume (Rp trillion)
transactions in 2020:
26.9 Total Transactions (in million)
16.3 21.9
ATM AND MFD

In 2020, CIMB Niaga owned 4,316 ATMs and MFDs with 2018 2019 2020
network throughout Indonesia. The total number of ATM
and MFD machines declined by 330 units from 4,646
units last year. OCTO CLICKS
In 2020, OCTO Clicks recorded 1.4 million users. OCTO
ATM and MFD
Clicks is the leading-edge internet based banking service
4.6 provided by CIMB Niaga. The number of customer
4.7
transactions through OCTO Clicks reached 17.3 million
89.7 4.3 transactions in 2020, compared to 19.8 million transactions
89.8
in 2019. OCTO Clicks posted total volume of transactions
68.6 Number of ATM & MFD (in thousand) amounting to Rp94.1 trillion compared to Rp106.0 trillion
Transaction Volume (Rp trillion) a year earlier.
139.4
126.8
98.4 Total Transactions (in million)
The main features of OCTO Clicks include various bill
payments, online shopping payment as well as online
2018 2019 2020 saving and deposit account opening. Since 2016, OCTO
Clicks has implemented the Virtual Card Number (VCN),
which provides easy access for any online transactions in
The number of transactions from ATM and MFD machines every MasterCard-accepted websites so customers can
reached 98.4 million transactions with total transactions shop more securely and easily with their savings account,
volume of Rp68.6 trillion in 2020 compared to Rp89.7 without a credit card. VCN is perfect for customers
trillion the year before. who do not have a credit card, but would like to shop
at online at merchants who only accept credit card
CDM AND CRM payments. In addition, OCTO Clicks is also equipped with
In 2020, CIMB Niaga had a total of 934 units of CDM and a personal financial dashboard that contains a summary
CRM machines, with the total number of transactions of customers’ activities and financial assets in the form
reaching 21.9 million transactions compared to 26.9 of savings, loans and investment products. This feature
million transactions in the previous year. Meanwhile, the provides added value for customers who need to closely
total volume of transactions amounted to Rp25.7 trillion, monitor their current financial condition.
compared to Rp30.5 trillion in 2019.

OCTO Clicks from 4.5 million users in 2019. Furthermore, the total
number of transactions made by customers through
1.7 1.9
Rekening Ponsel reached 30.8 million transactions in
1.4
2020, compared to 58.7 million transactions in 2019.
Rekening Ponsel
109.3 106.0 Number of Users (in million)
94.1 4.5
Total Transactions (in million) 10.6

18.8 19.8 17.3 3.8
4.8
2018 2019 2020 5.6 Number of Users (in million)
5.3
58.7 Transaction Volume (Rp trillion)
35.4 30.8 Total Transactions (in million)
OCTO MOBILE
Another leading-edge service feature CIMB Niaga offers
is OCTO Mobile. This is a mobile banking application 2018 2019 2020
service from CIMB Niaga with advanced feature such as

time deposits opening, mobile payments with QR Scan
technology, purchase of the government retail bonds, BIZCHANNEL@CIMB
e-wallet top up and AdaOCTO! which shows a series of BizChannel@CIMB is a premium leading-edge internet
information updates the latest CIMB Niaga promotions. based banking services offered by CIMB Niaga for
Throughout the year 2020, CIMB Niaga’s mobile banking business customers. In 2020, BizChannel@CIMB had
service reached 2.4 million users, compared to 2.6 million 42,252 users, an increase of 14.90% from 36,772
a year before. users in 2019. The number of transactions made by
customers through BizChannel@CIMB reached 60.4
The number of transactions by customers through OCTO million transactions in 2020, compared to 113.5 million
Mobile reached 56.4 million transactions in 2020, an transactions in 2019.
increase of 49.59% from 37.7 million transactions a year
BizChannel@CIMB
ago. This increase was in line with the transaction volume
growth, which was Rp97.5 trillion, increased significantly 113.5
by 82.81% in 2020.
91.2
OCTO Mobile 60.4
2.4
Total Transactions (in million)
Number of Users (in thousand)

2.6 33.8 36.8 42.3
97.5
Number of Users (in million)
53.3 2018 2019 2020
2.2
Total Transactions (in million)

23.0 56.4
37.7
15.4
2018 2019 2020
REKENING PONSEL
Rekening Ponsel is a CIMB Niaga digital product and
services for making cardless cash withdrawals at all CIMB
Niaga ATMs, Indomaret and Alfamart using a registered
mobile phone number. Rekening Ponsel currently has
4.8 million registered users in 2020, an increase of 6.12%

STATEMENTS OF FINANCIAL POSITION
in million Rupiah
Growth (%)
Financial Position 2020 2019 2018
2020-2019 2019-2018
Cash and Cash Equivalent – Net 28,030,813 31,355,685 27,049,800 (10.60) 15.92
Marketable Securities and Government Bonds – Net 67,444,508 34,645,825 35,269,590 94.67 (1.77)
Loans – Gross 174,754,593 194,237,531 188,467,537 (10.03) 3.06
Allowance for Impairment Losses (11,924,960) (6,060,021) (6,102,278) 96.78 (0.69)
Loans – Net 162,829,931 188,177,510 182,365,259 (13.47) 3.19
Fixed Assets – Net 8,754,931 7,952,330 7,049,560 10.09 12.81
Other Assets – Net 13,883,720 12,335,877 15,047,289 12.55 (18.02)
Total Assets 280,943,605 274,467,227 266,781,498 2.36 2.88
Current Account 55,862,547 48,943,913 45,857,151 14.14 6.73
Saving Account 67,861,369 59,316,069 54,495,883 14.41 8.85
Time Deposits 83,805,508 87,340,318 90,397,184 (4.05) (3.38)
Total Customer Deposits 207,529,424 195,600,300 190,750,218 6.10 2.54
Deposits from Other Banks 2,901,556 1,364,586 2,928,693 112.63 (53.41)
Marketable Securities Issued and Subordinated Loans 15,446,431 19,795,024 18,953,074 (21.97) 4.44
Borrowings 933,433 2,647,013 2,195,916 (64.74) 20.54
Other Liabilities 13,079,710 11,766,138 12,373,018 11.16 (4.90)
Total Liabilities 239,890,554 231,173,061 227,200,919 3.77 1.75
Total Equity 41,053,051 43,294,166 39,580,579 (5.18) 9.38
Total Liabilities and Equity 280,943,605 274,467,227 266,781,498 2.36 2.88
ASSETS
Amid challenging conditions, CIMB Niaga managed to record total assets of Rp280.9 trillion, an increase of 2.36% from
Rp274.5 trillion in 2019. The growth of assets was mainly due to an increase of government bonds, which amounted to
Rp55.8 trillion, up by 151.93% from Rp22.2 trillion in 2019. In addition, the growth of assets was also due to an increase
of securities purchased under resale agreements of Rp1.8 trillion to Rp2.3 trillion, compared to Rp0.5 trillion the
year before.
CASH AND CASH EQUIVALENT - NET
in million Rupiah
Growth (%)
Cash and Cash Equivalents 2020 2019 2018
2020-2019 2019-2018
Cash 4,777,284 5,693,065 4,293,370 (16.09) 32.60
Current Account with Bank Indonesia 6,221,892 11,395,695 10,435,254 (45.40) 9.20
Current Account with Other Banks 3,697,487 2,162,195 3,093,901 71.01 (30.11)
Placements with Bank Indonesia 12,067,984 10,894,566 8,777,854 10.77 24.11
Placements with Other Banks 1,266,166 1,210,164 449,421 4.63 169.27
Total 28,030,813 31,355,685 27,049,800 (10.60) 15.92

By year-end 2020, the amount of net cash and cash- Cash and Cash Equivalents Composition
(%)
equivalent of CIMB Niaga was Rp28.0 trillion, a decline
1.66 3.86 4.55
of 10.60% from Rp31.4 trillion in the previous year. The
decline of cash and cash-equivalent was mainly due to 32.45 34.75 43.05
a decrease in current account with Bank Indonesia and Placements with Other Banks
cash by Rp5.2 trillion and Rp0.9 trillion to Rp6.2 trillion 11.44 6.90 Placements with Bank Indonesia
and Rp4.8 trillion respectively in 2020. 13.19
36.34
Current Account with Other Banks
38.58
22.20
15.87 18.16 17.04
Current Account with Bank Indonesia
2018 2019 2020
CASH
As at year-end 2020, CIMB Niaga’s cash was Rp4.8 trillion, a decline of Rp0.9 trillion, or by 16.09%, from Rp5.7 trillion in
2019. The decline was mainly due to a decrease of Rp0.9 trillion in Rupiah-denominated cash. The contribution of cash
to the net cash and cash-equivalent also declined to 17.04% in 2020 compared to 18.16% in 2019.
in million Rupiah
Growth (%)
Cash 2020 2019 2018
2020-2019 2019-2018
Rupiah 4,161,505 5,090,045 3,825,011 (18.24) 33.07
Foreign Currency
US Dollars 257,029 262,734 263,273 (2.17) (0.20)
Others 358,750 340,286 205,086 5.43 65.92
Total 4,777,284 5,693,065 4,293,370 (16.09) 32.60
CURRENT ACCOUNT WITH BANK INDONESIA

In 2020, CIMB Niaga’s current account with Bank Indonesia amounted to Rp6.2 trillion, a decline of Rp5.2 trillion, or
by 45.40%, from Rp11.4 trillion in 2019. The decline mainly resulted from the Rupiah-denominated current account
placement with Bank Indonesia, which declined by Rp3.3 trillion during the year.
in million Rupiah
Growth (%)
Current Accounts with Bank Indonesia 2020 2019 2018
2020-2019 2019-2018
Rupiah 5,042,430 8,321,615 7,234,376 (39.41) 15.03
US Dollars 1,179,462 3,074,080 3,200,878 (61.63) (3.96)
Total 6,221,892 11,395,695 10,435,254 (45.40) 9.20
Bank CIMB Niaga’s Minimum Statutory Reserve is in accordance with Bank Indonesia Board of Governors’ Regulation No.
21/14/PADG/2019 dated 26 June 2019 on the Second Amendment to the Members of the Board of Governors’ Regulation
No. 20/10/PADG/2018 on the Statutory Reserves in Rupiah and Foreign Currency for Conventional Commercial Banks, Sharia
Commercial Banks, and Sharia Business Units effective 1 July 2019, in which the Rupiah and foreign currency Statutory
Reserves are set at 6.00% and 8.00%, respectively. The Statutory Reserve is fulfilled on a daily basis at 3.00% and on an
average of 3.00% for certain reporting period. The Macroprudential Liquidity Buffer and Macroprudential Intermediation
Ratio are also in accordance with Board of Governors Regulation No. 21/5/PADG/2019 dated 29 March 2019 on the Third
Amendment of the Board of Governors Regulation No. 20/11/PADG/2018 on Macroprudential Intermediation Ratio and
Macroprudential Liquidity Buffer for Conventional Commercial Banks, Sharia Commercial Banks and Sharia Business Units.
In April 2020, Bank Indonesia issued PBI No. 22/4/PBI/2020 on the Incentives for Banks that Provide Funds for Certain
Economic Activities in Support of Alleviating the Economic Impact from the COVID-19 Plague. In consideration of the

potentially adverse impact of the COVID-19 plague on domestic production activities that could lead to a decline in the
money circulation, an increased level of the financial intermediation function of banking through the accommodating
macroprudential policy would be needed to support certain economic activities. Bank Indonesia provided incentives by
reducing the amount of the mandatory daily Minimum Statutory Reserve for Banks that support the financing of export,
import, and/or MSME and for certain other priority economic sectors as defined by Bank Indonesia. The reduction
of the Rupiah Minimum Statutory Reserves were 200bps and 50bps for Conventional Commercial Banks and Sharia
Commercial Banks/Sharia Business Units, respectively, effective on 1 May 2020.
CURRENT ACCOUNT WITH OTHER BANKS

CIMB Niaga’s current account with other banks amounted to Rp3.7 trillion as at year-end 2020, an increase of Rp1.5
trillion, or by 71.01%, from Rp2.2 trillion in 2019. The increase was mainly due to increases in current account with other
banks in US dollar, Australian dollar and Rupiah currencies amounting to Rp0.8 trillion, Rp0.4 trillion and Rp0.3 trillion,
respectively.
in million Rupiah
Growth (%)
Current Accounts with Other Banks 2020 2019 2018
2020-2019 2019-2018
Rupiah 568,188 245,221 483,087 131.70 (49.24)
Foreign Currencies
US Dollars 985,709 191,383 349,946 415.05 (45.31)
Australian Dollars 659,421 250,504 629,972 163.24 (60.24)
Euro 628,682 521,454 434,990 20.56 19.88
Singapore Dollars 321,622 525,535 615,830 (38.80) (14.66)
Japanese Yen 266,549 192,130 234,554 38.73 (18.09)
Great Britain Poundsterling 113,839 81,505 145,481 39.67 (43.98)
China Yuan 45,127 36,513 73,145 23.59 (50.08)
New Zealand Dollars 41,699 40,083 35,885 4.03 11.70
Hongkong Dollars 14,152 26,172 33,893 (45.93) (22.78)
Others 52,499 51,695 57,118 1.56 (9.49)
Total 3,697,487 2,162,195 3,093,901 71.01 (30.11)
PLACEMENTS WITH BANK INDONESIA AND OTHER BANKS

CIMB Niaga’s placements with Bank Indonesia and other banks amounted to Rp13.3 trillion at the end of 2020, an
increase of Rp1.2 trillion, or by 10.16%, from Rp12.1 trillion in 2019. This increase mainly came from an increase in
foreign currency term deposit placement with Bank Indonesia of Rp2.0 trillion, offset by a decrease in the amount of
call money by Rp1.1 trillion.
in million Rupiah
Growth (%)
Placements with Bank Indonesia and Other Banks 2020 2019 2018
2020-2019 2019-2018
FASBI - Rupiah 5,000,834 5,855,219 5,398,554 (14.59) 8.46
BI Time Deposits – Foreign Currency 7,067,150 5,039,347 3,379,300 40.24 49.12
Placements with Bank Indonesia 12,067,984 10,894,566 8,777,854 10.77 24.11
Call Money – Rupiah 1,212,561 100,000 - 11x na
Call Money - Foreign Currency 61,705 1,139,307 462,720 (94.58) 146.22
Placements with Other Banks 1,274,266 1,239,307 462,720 2.82 167.83
Less: Allowances for Impairment Losses (8,100) (29,143) (13,299) (72.21) 119.14
Total 13,334,150 12,104,730 9,227,275 10.16 31.18

MARKETABLE SECURITIES AND GOVERNMENT BONDS - NET
in million Rupiah
Growth (%)
Marketable Securities and Government Bonds – Net 2020 2019 2018
2020-2019 2019-2018
Marketable Securities 9,310,186 11,962,665 10,676,225 (22.17) 12.05
Government Bonds 55,828,799 22,160,303 23,999,772 151.93 (7.66)
Securities purchased under resale agreements 2,305,523 522,857 593,593 340.95 (11.92)
Total 67,444,508 34,645,825 35,269,590 94.67 (1.77)
In 2020, CIMB Niaga held marketable securities and government bonds amounting to Rp67.4 trillion, increasing by
94.67% from Rp34.6 trillion in 2019. This increase was mainly due to the increase in government bonds held by Rp33.7
trillion, offset by a decrease in securities held by Rp2.7 trillion.
MARKETABLE SECURITIES
in million Rupiah
Growth (%)
Marketable Securities – Gross 2020 2019 2018
2020-2019 2019-2018
Amortized cost 2,682,026 3,229,093 3,191,503 (16.94) 1.18
Fair value through other comprehensive income 6,318,757 7,482,857 7,224,705 (15.56) 3.57
Fair value through profit and loss 325,718 1,288,761 298,794 (74.73) 331.32
Total 9,326,501 12,000,711 10,715,002 (22.28) 12.00
As at year-end 2020, CIMB Niaga’s investments in marketable securities are still dominated by marketable securities
at fair value through other comprehensive income with a contribution of up to 67.75%, valued at Rp6.3 trillion. This
amount declined by 15.56% from Rp7.5 trillion in 2019. The decline was followed by decrease in marketable securities
at amortized cost and marketable securities at fair value through profit and loss by 16.94% and 74.73%, respectively, to
Rp2.7 trillion and Rp0.3 trillion in 2020.
The average annualized interest rates of these marketable securities investment were 6.74% in Rupiah currency and
1.37% in foreign currency in 2020. In 2019 the average interest rates were 7.30% and 2.47% for Rupiah and foreign
currencies, respectively.
In terms of collectability, investments in marketable securities in 2019 that were classified as current amounted to
Rp12.0 trillion whereas those that were classified as non-performing amounted to only Rp15.0 billion. In 2020, the
collectability of these maketable securities were well managed, with those classified as current reaching Rp8.9 trillion,
substandard Rp445.0 billion and the non-performing securities remained at Rp15.0 billion.
Most of the marketable securities that were held by CIMB Niaga in 2020 had ratings of idAAA from PT Pemeringkat Efek
Indonesia and AAA from Fitch Ratings.
GOVERNMENT BONDS
In line with the initiative to manage and capitalize on the Bank’s liquidity, in 2020 CIMB Niaga maximized its investment in
securities including the purchases of government bonds. This resulted in the amount of government bonds held by CIMB
Niaga reaching Rp55.8 trillion as at year-end 2020, an increase of Rp33.7 trillion, or by 151.9%, from Rp22.2 trillion in 2019.
This increase primarily came from the purchase of government bonds at fair value through other comprehensive income
which increased by 421.91% or Rp24.3 trillion.

Of the total amount of government bonds held by CIMB As of December 31, 2020, Government Bonds pledged
Niaga, 53.82% or Rp30.0 trillion were government bonds at as collateral for securities sold under a repurchase
fair value through other comprehensive income, whereas agreement amounted to Rp8,650,000 (31 December 2019:
the other government bonds at amortized cost and at fair Rp10,450,000; 31 December 2018: Rp12,450,000).
value through profit and loss amounted to Rp17.8 trillion
and Rp8.0 trillion, respectively, contributing 31.91% and SECURITIES PURCHASED UNDER RESALE AGREEMENT
14.27% of the total government bonds held in 2020. In 2020, the balance of securities purchased under
resale agreement amounted to Rp2.3 trillion, increasing
Government bonds by type
(Rp trillion) by 340.95% from Rp0.5 trillion a year before. As at 31
8.0 December 2020, all securities purchased under resale
agreement were classified as current and stage 1, whilst
in 2019 and 2018 classified as current.
1.6
30.0 Fair value through profit and loss LOANS
2.0
Fair value through other comprehensive Throughout 2020, loans declined by 10.03% to Rp174.8
7.2 income
5.7
Amortized cost trillion, from Rp194.2 trillion. This was mainly brought
17.8
15.1 14.4 on by economic pressure from the COVID-19 pandemic
that narrowed the room to navigate for many industries.
2018 2019 2020 Nonetheless, CIMB Niaga is committed to maintaining
a sound credit portfolio, one of which was through
Government Bonds by Maturity competitive interest rates and other marketing strategies.
(Rp trillion)
In disbursing its loans, the Bank continues to place a
19.2
strong emphasis on credit quality.
> 5 years All corporate and commercial loans that were disbursed
> 1 - ≤ 5 years are guaranteed by collaterals with mortgage, rights to
5.1 4.6
31.2 > 3 - ≤ 12 months
sell, term deposits and other collaterals. Loans with cash
13.6 collateral in 2020 and 2019 amounted to Rp5.4 trillion
11.9 > 1 - ≤ 3 months
1.5
3.8 and Rp11.3 trillion, respectively.
5.9 0.5 ≤ 1 month
1.4
1.1
0.01 1.1 1.0
2018 2019 2020

LOANS BASED ON CURRENCY
Loans in Rupiah denomination remained as the
dominant portion of the Bank’s loans portfolio in 2020.
The portfolio composition of CIMB Niaga’s government CIMB Niaga disbursed a total of Rp153.7 trillion of
bonds holding on the basis of maturity is still dominated by Rupiah denominated loans, which accounted for 87.95%
those maturing >1-≤ 5 years, which accounted for 55.94% of the total loans portfolio. Whereas, foreign currency
of the total portfolio. Whereas the portion of government denominated loans accounted for 12.05%, or a total
bonds maturing >1-≤ 3 months declined from 4.98% in of Rp21.0 trillion, of the loans portfolio. In 2019, CIMB
2019 to 1.82% in 2020. Bonds with maturities of more than Niaga’s Rupiah-denominated and foreign currency-
5 (five) years comprised of 34.46% of the total portfolio. denominated loans portion were 88.70% and 11.30%,
respectively.
The average interest rate coupons of the government
bonds were 6.55% in the Rupiah currency and 2.85% in
foreign currencies. Meanwhile, the average interest rate
per year for government bonds in 2019 was 6.92% in
Rupiah and 3.45% in foreign currencies.

in million Rupiah
Loans Based on Currency and

2020 2019 2018
Average Interest Rate
Rupiah 153,705,264 172,282,399 163,645,144
Average interest rate (Rupiah) % 9.80 10.60 10.25
Foreign currency 21,049,329 21,955,132 24,822,393
Average interest rate (Forex)% 4.35 4.46 4.59
LOANS BASED ON GEOGRAPHIC AREA

The distribution of CIMB Niaga’s loans on the basis of geography was still largely concentrated in Java, which accounted
for 87.66% and 87.20% of the total credit portfolio in 2019 and 2020, respectively. The Greater Metropolitan Jakarta area
held the largest share of loans distribution, amounting to 70.46%. This was followed by East Java and Central Java, which
contributed to a share of 6.95% and 5.09%, respectively.
in million Rupiah
Growth (%)
Loans based on Geographic Area 2020 2019 2018
2020-2019 2019-2018
Jakarta 123,125,578 128,302,978 129,100,095 (4.04) (0.62)
Sumatera 13,069,898 12,209,084 14,149,489 7.05 (13.71)
East Java 12,143,391 12,974,806 14,442,628 (6.41) (10.16)
Central Java 8,894,777 10,882,453 12,787,195 (18.26) (14.90)
West Java 8,219,429 18,130,771 8,273,611 (54.67) 119.14
East Indonesia 6,217,318 8,483,026 7,509,613 (26.71) 12.96
Others 3,084,202 3,254,413 2,204,906 (5.23) 47.60
Total 174,754,593 194,237,531 188,467,537 (10.03) 3.06
LOANS BASED ON UTILIZATION TYPE

The composition of loans disbursed by CIMB Niaga is diversified, enabling the effective management of the credit risk.
In 2020 working capital loans had the largest contribution of 45.73% of the Bank’s total loans portfolio, followed by
consumption at 31.07% and investment loans at 23.21%.
in million Rupiah
Growth (%)
Loans Based on Utilization Type 2020 2019 2018
2020-2019 2019-2018
Working Capital 79,914,496 93,194,370 98,877,663 (14.25) (5.75)
Investment 40,559,228 47,129,042 42,050,944 (13.94) 12.08
Consumption 54,280,869 53,914,119 47,538,930 0.68 13.41
Total 174,754,593 194,237,531 188,467,537 (10.03) 3.06
LOANS BASED ON ECONOMIC SECTORS

In 2020 there were five different economic sectors that accounted for a combined share of more than 77.56% of the total
credit portfolio. These were the trading, restaurant, hotel and administration; property; manufacturing; consumption
and business services. In 2020, these five sectors contributed 18.92%; 18.90%; 17.97%; 12.04%; and 9.73% of CIMB
Niaga’s total credit portfolio.

in million Rupiah
Growth (%)
Loans Based on Economic Sectors 2020 2019 2018
2020-2019 2019-2018
Trading, restaurants, hotels and administration 33,065,855 36,539,995 38,274,705 (9.51) (4.53)
Property 33,030,388 31,386,136 28,213,382 5.24 11.25
Manufacturing 31,420,852 38,906,783 38,465,326 (19.24) 1.15
Consumption 21,041,904 22,118,636 19,103,208 (4.87) 15.78
Business services 17,005,518 21,828,248 22,721,851 (22.09) (3.93)
Agriculture 13,862,317 15,299,196 16,551,605 (9.39) (7.57)
Others 25,327,759 28,158,537 25,137,460 (10.05) 12.02
Total 174,754,593 194,237,531 188,467,537 (10.03) 3.06
LOANS BASED ON SEGMENTATION

Based on business segmentation, Corporate Banking accounted for 36.14% of the total loans portfolio of CIMB Niaga,
declining by 12.37% to Rp63.2 trillion in 2020 from Rp72.1 trillion in 2019. Consumer Banking contributed 31.59% of the
total loans portfolio, increasing by 1.69% to Rp55.2 trillion from previously Rp54.3 trillion. Commercial Banking declined
by 22.06% to Rp36.2 trillion compared to Rp46.5 trillion in 2019. This was followed by SME Banking that also declined
by 5.75% to Rp20.2 trillion.
Loans based on Segmentation

(Rp trillion)
18.5 21.4
20.2
70.0
72.1
50.9 46.5
63.2 36.2
55.2
49.1 54.3
2018 2019 2020
SME Banking Commercial Banking Consumer Banking Corporate Banking
NON-PERFORMING LOANS
In line with the increasing challenges to the economy from the impact of the proliferating Novel COVID-19, the amount
of Non-Performing Loan (NPL) increased by Rp0.9 trillion to Rp6.2 trillion in 2020 compared to Rp5.3 trillion in 2019. This
resulted in the increase of CIMB Niaga’s gross NPL from 2.79% in 2019 to 3.62% in 2020.
in million Rupiah
Growth (%)
NPL based on Collectibility 2020 2019 2018
2020-2019 2019-2018
Sub-standard 638,552 287,520 813,957 122.09 (64.68)
Doubtful 269,385 832,577 493,572 (67.64) 68.68
Loss 5,305,480 4,214,445 4,456,896 25.89 (5.44)
Total 6,213,417 5,334,542 5,764,425 16.48 (7.46)

Virtually all of the business segments of CIMB Niaga Gross NPL Ratio (%) per segment
manifested increasing gross NPL ratios. Corporate
6.1
Banking, Commercial Banking and SME Banking 5.7
experienced increasing NPLs to 4.1%, 5.7% and 2.8%, 4.4
respectively, in 2020, compared to 2.4%, 4.4% and 2.2% 4.1
in 2019. Whereas the NPL of consumer banking declined 3.0 Corporate Banking
2.8
from 2.0% in 2019 to 1.8% in 2020. 2.4
2.5 2.2 Commercial Banking
2.0
1.8 SME Banking
1.3
Consumer Banking
2018 2019 2020
In terms of economic sectors, the sectors that had the highest contribution to NPL in 2020 were trade, restaurant, hotel
and administration (42.59%), industries (27.59%), and property (11.05%).
in million Rupiah
2020 2019 2018

NPL based on Economic Sector
Rp juta % Rp juta % Rp juta %
Trading, restaurants, hotels and administration 2,646,567 42.59 1,298,948 24.35 1,983,159 34.40
Manufacturing 1,714,127 27.59 2,016,989 37.81 1,051,874 18.25
Property 686,580 11.05 744,503 13.96 796,870 13.82
Consumer 299,855 4.83 336,532 6.31 375,685 6.52
Agriculture 271,518 4.37 480,161 9.00 235,903 4.09
Construction 221,392 3.56 168,096 3.15 168,832 2.93
Business services 172,212 2.77 161,691 3.03 542,561 9.41
Social services 160,791 2.59 40,648 0.76 54,838 0.95
Transportation, warehouse and communication 40,375 0.65 52,323 0.98 95,805 1.66
Electricity, gas and water - - 34,651 0.65 111,005 1.93
Mining - - - - 347,893 6.04
Total 6,213,417 100.00 5,334,542 100.00 5,764,425 100.00
IMPAIRED LOANS
In 2020, CIMB Niaga posted impaired loans amounting Rp10.5 trillion, increasing from Rp7.4 trillion in 2019. With that
condition, the impaired loans ratio increased to 6.03% in 2020 from 3.81% in 2019. Changes in the provision for losses
due to impaired loans as posted by CIMB Niaga were as follows:
in million Rupiah
Growth (%)
Movement in Allowances for Impairment Losses 2020 2019 2018
2020-2019 2019-2018
Beginning balance 6,060,021 6,102,278 7,316,711 (0.69) (16.60)
Impairment during the year 5,634,287 3,302,340 2,985,982 70.61 10.59
Recovery of written-off loans during the year 642,218 926,930 431,989 (30.72) 114.57
Write-offs during the year (4,138,691) (1,988,123) (4,259,111) 108.17 (53.32)
Impact of implementation SFAS 71 4,644,134 - - - -
Others *
(917,009) (2,283,404) (373,293) (59.84) 511.69
Ending balance 11,924,960 6,060,021 6,102,278 96.78 (0.69)
Includes difference in exchange rates due to foreign currency translation and loans sale.
*

Management believes that the provision set aside adequately covers losses that may arise from impaired loans that may
not be collected. Provision for impairement losses in 2020 and 2019 were Rp11.9 trillion and Rp6.1 trillion, respectively;
with ratios of impaired LLC reaching 114.59% in 2020 and 81.98% in 2019.
COMPLIANCE WITH BI REGULATIONS ON LOANS

The amount of SME loans as at 31 December 2020 was Rp21.1 trillion compared to Rp23.1 trillion on 31 December
2019. The ratio of SME loans to the total consolidated CIMB Niaga loans was 12.30% in 2020 and 12.11% in 2019. Based
on BI Regulation No. 14/22/PBI/2012 of 21 December 2012 as amended to BI Regulation No. 17/12/PBI/2015 of 25 June
2015 on Credit or Financing by a Commercial Bank and Technical Assistance in Connection with the Development of the
Micro, Small and Medium-sized Enterprise.
OJK issued Regulation No.32/POJK.03/2018 on the Legal Lending Limit and Provision of Large Sums of Funds for
Commercial Bank that has become effective since 1 June 2019. The Regulation sets the maximum limit for lending to a
single debtor and/or a group of debtors that are not affiliated with one another of not more than 25% of the Bank tier-1
capital. On 31 December 2020, 2019 and 2018 CIMB Niaga did not have any credit outstanding that exceeded the Legal
Lending Limit to any party, whether affiliated or not.
ASSET QUALITY COMMITTEE

The determination for credit impairment can be undertaken through an individual assessment or collective assessment. The
collective assessment evaluates value impairment to a group of credit based on the estimated contractual future cash flow, rate
of historical loss of the credit group and the period of loss event in a small group until such time as concrete evidence can be
identified. Individual assessment is made base on the estimate of revocable amount. The evaluation on Individual Assessment
is carried out each month and decided by the Asset Quality Committee.
Non-Significant Loan Non-Significant Loan

OS<15 billion OS<15 billion
Yes Yes
Asset Quality
Objective Proof of Objective Proof of Loan Individual
Committee
Impairment Impairment Assessment
Agreement
No
Loan Collective
Assessment
No
The Asset Quality Committee is comprised of:

• Chair: Chief Special Asset Officer, Director of Risk Management (alternate)
• Secretary: Foreclosed Asset Head, Accounting Standards Implementation Group Head (alternate)
• Members: Director of Finance and SPAPM, Director of Sharia Banking, Chief of Corporate Banking & FI and Chief
of TB, Head of LWO, Head of Commercial Banking, Head of Small Medium Enterprise, Head of Wholesale Banking
Credit, Head of COMBA & SME Banking Credit, Head of Foreclosed Asset & Business Planning, Head of Finance
(alternate), Deputy Head of Wholesale Banking Sharia (alternate).

The duties and responsibilities of the Asset Quality FIXED ASSETS

Committee are to review the quality of CIMB Niaga’s In 2020, CIMB Niaga recorded fixed assets of Rp8.8
assets to always be in line with the overall risk appetite trillion or an increase of 10.09% compared to 2019
of CIMB Niaga, including to decide the names of debtors of Rp8.0 trillion. This increase was mainly due to the
that are classified as Individual Assessment and to impact of the adoption of PSAK 73, whereby CIMB
determine the amount of the Bank’s provision on losses Niaga and Subsidiaries, as the lessee, recognized lease
from the impaired assets. The Asset Quality Committee assets and lease liabilities related to leases that were
works effectively to increase the quality of assets and previously classified as operating leases. The impact of
suppress the growth of non-performing assets. the application of PSAK 73 on the recognition of leased
assets - net amounted to Rp447.7 billion.
THE STRATEGY TO IMPROVE ASSET QUALITY
CIMB Niaga applies preventive and “after the fact” strategies In 2020, CIMB Niaga posted total Fixed Assets of Rp8.8
to improve asset quality. CIMB Niaga’s preventive strategy trillion, an increase by 10.09% from Rp8.0 trillion in 2019.
includes updating the framework, developing tools to The increase was mainly in relation to implementation of
integrate credit risk assessments into CIMB Niaga’s business SFAS 73, of which Bank CIMB Niaga and Subsidiaries as
processes using ratings and scorecards for credit decisions, lessee recognized right-of-use assets and lease liabilities
liquidity risk assessments, operating risk assessments related to leases which were previously classified as
and calculations for RWA credit based on internal rating operating leases. Impact of SFAS 73 implementation in
approach through the system development within the right-of-use assets amounted Rp447.7 billion. Excluding
framework of implementing Basel II and III, and providing the increase of right-of-use asset, office equipment,
training to strengthen the ability of the credit analyst team. machine and furniture increased by Rp317.4 billion.
Intangible assets also rose by Rp208.8 billion, followed by
One of the “after the fact” strategies is to strengthen vehicles increased by Rp26.4 billion. Assets in progress
collections and loan recovery sides, such as selling comprised of the land and buildings including renovation
foreclosed assets and working with vendors providing and installations and office equipment, machinery, and
Telerecovery services. In addition, CIMB Niaga still focuses furniture. Those in-construction are estimated to be
on strengthening the Bank’s risk culture. completed in 2021 until 2022 with current percentages of
completion of 70% - 80%.
in million Rupiah
Growth (%)
Fixed Assets 2020 2019 2018
2020-2019 2019-2018
Cost
Land 3,024,257 3,018,028 2,699,266 0.21 11.81
Buildings, including renovation and installation 2,668,186 2,080,433 2,028,180 28.25 2.58
Office equipment, machines and furniture 2,860,280 2,295,148 2,939,461 24.62 (21.92)
Motor vehicles 79,638 25,976 28,445 206.58 (8.68)
Asset in progress – tangible assets 795,004 802,975 525,028 (0.99) 52.94
Intangible assets 3,017,379 2,597,714 2,384,623 16.16 8.94
Asset in progress – intangible assets 360,103 507,783 432,728 (29.08) 17.34
Accumulated depreciation
Buildings, including renovation and installations (712,488) (456,746) (576,244) 55.99 (20.74)
Office equipment, machines and furniture (1,686,102) (1,505,706) (2,173,747) 11.98 (30.73)
Motor vehicles (39,054) (11,829) (17,107) 230.15 (30.85)
Intangible assets (1,612,272) (1,401,448) (1,221,073) 15.04 14.77
Total 8,754,931 7,952,330 7,049,560 10.09 12.81

All of the Bank’s Fixed Assets are used to support the operational activities of CIMB Niaga. In 2020, CIMB Niaga’s Fixed
Assets of buildings and motor vehicles have been insured by PT Lippo General Insurance Tbk with the coverage value of
Rp3.6 trillion and USD105 million. Management believes that the insured amount is adequate to cover possible losses
of these assets. There are no fixed assets pledged by Bank CIMB Niaga and Subsidiaries for collateral.
OTHER ASSETS
Other Assets comprise accounts other than those described above. CIMB Niaga’s Other Assets reached a total of
Rp13.9 trillion in 2020, an increase of Rp1.5 trillion, or by 12.55%, from Rp12.3 trillion in 2019. The increase was mainly
attributed to an increase of accrued interest income of 101.79% or Rp1.3 trillion as well as an increase in deferred taxes
of 39 times or Rp720 billion.
in million Rupiah
Growth (%)
Other Assets 2020 2019 2018
2020-2019 2019-2018
Derivative receivables 1,359,286 725,478 1,084,759 87.36 (33.12)
Acceptance receivables 2,022,665 3,767,071 4,462,483 (46.31) (15.58)
Equity participation 3,659 3,659 3,659 - -
Foreclosed assets 294,080 51,103 207,760 475.47 (75.40)
Prepaid taxes 1,930,704 1,644,089 1,892,270 17.43 (13.12)
Accrued income 2,501,602 1,239,731 1,257,224 101.79 (1.39)
Prepaid expenses 1,024,632 1,373,464 1,294,384 (25.40) 6.11
Deferred tax assets 738,427 18,458 99,863 39x (81.52)
Other assets 4,008,665 3,512,824 4,744,887 14.12 (25.97)
Total 13,883,720 12,335,877 15,047,289 12.55 (18.02)
DERIVATIVES RECEIVABLES FORECLOSED ASSETS

Derivatives receivables amounted to Rp1.4 trillion in The amount of foreclosed assets increased by Rp243.0
2020, an increase of Rp634 billion, or by 87.36%, from billion to Rp294.1 billion in 2020 compared to Rp51.1
Rp725.5 billion in 2019. The increase was mainly due billion in 2019. CIMB Niaga continues to make efforts to
to an increase in receivables from interest rate swaps settle the foreclosed assets in its possession. By year-end
amounting to Rp313 billion. 2020 provision for losses on impaired foreclosed assets
amounted to Rp143 billion. The Management believes
ACCEPTANCE RECEIVABLES that the provision set aside for this purpose is sufficient
Acceptance receivables declined by Rp1.7 trillion to Rp2.0 to cover potential losses on the foreclosed assets.
trillion in 2020, compared to Rp3.8 trillion a year before.
The decline resulted mainly from acceptance receivables PREPAID TAXES
in foreign currency, which decreased by Rp1.0 trillion. Prepaid taxes increased by 17.43%, or Rp286.6 billion,
to Rp1.9 trillion in 2020, mainly due to the increase of
INVESTMENTS prepaid corporate income tax for 2014 amounting to
CIMB Niaga’s investments in 2020 remain unchanged Rp311.9 billion, offset by the decrease of prepaid income
from the previous year, amounting to Rp3.7 billion. CIMB tax for the period 2007-2016 amounting to Rp46.6 billion.
Niaga’s investments mainly consist of investment in
venture banks in Indonesia.

ACCRUED INCOME OTHER ASSETS

Accrued income increased by Rp1.3 trillion to Rp2.5 Other assets increased by Rp495.8 billion to Rp4.0 trillion
trillion as at year-end 2020, compared to Rp1.2 trillion of as at year-end 2020, compared to Rp3.5 trillion a year ago.
the previous year. The increase was due to an increase The increase was due to an increase in receivables related
of interest receivables from loans amounting to Rp798.6 to the sale of marketable securities and Government
billion, and interest receivables from placements with Bonds and others of Rp1.1 trillion to Rp1.9 trillion, offset
Bank Indonesia and other banks, marketable securities, by the decrease in factoring receivables of Rp433.4 billion
government bonds and securities purchased under to Rp172.7 and decrease of receivables relating to self-
resale agreement amounting to Rp436.4 billion. financing acceptance transaction of Rp428.7 billion to
Rp922.1 billion in 2020.
PREPAID EXPENSES
Prepaid expenses declined by Rp348.8 billion to Rp1.0 LIABILITIES
trillion as at year-end 2020, compared to Rp1.4 trillion CIMB Niaga continuously strives to diversify sources
the previous year. The decline was from lower prepaid of funding from customer deposits, deposits from
expenses on rent and maintenance expenses on other banks, borrowings and bonds issuance. This
hardware and software of Rp312.0 billion and Rp222.7 diversification is part of CIMB Niaga’s focus to generate
billion, respectively. funds with lower costs such as current accounts and
savings accounts. In 2020, CIMB Niaga was able to
DEFERRED TAX ASSETS manage customer deposits effectively, as shown by the
Deferred tax assets increased by Rp720.0 billion to increasing CASA ratio to 59.62% from the previous year of
Rp738.4 billion as at year-end 2020, compared to Rp18.5 55.35%. Also in 2020, CIMB Niaga issued sukuk, corporate
billion a year ago. The increase in deferred tax assets was bonds and subordinated bonds, all of which amounted
mainly due to the impact of the implementation of PSAK to Rp1.0 trillion to support the expansion of its business
71 on January 1, 2020. as a manifestation of the continuous diversification of
the Bank’s funding sources.
in million Rupiah
Growth (%)
Liabilities 2020 2019 2018
2020-2019 2019-2018
Customer Deposits 207,529,424 195,600,300 190,750,218 6.10 2.54
Deposits from Other Banks 2,901,556 1,364,586 2,928,693 112.63 (53.41)
Marketable Securities Issued* 15,222,247 17,973,849 17,210,657 (15.31) 4.43
Subordinated Loans 224,184 1,821,175 1,742,417 (87.69) 4.52
Borrowings 933,433 2,647,013 2,195,916 (64.74) 20.54
Other Liabilitiess 13,079,710 11,766,138 12,373,018 11.16 (4.90)
Total 239,890,554 231,173,061 227,200,919 3.77 1.75
including securities sold under repurchase agreement

*
CUSTOMER DEPOSITS
The amount of customer deposits at CIMB Niaga as at year-end 2020 reached Rp207.5 trillion, an increase by 6.10%
from Rp195.6 trillion in 2019. Time deposits remained the largest source for customer deposits, contributing 40.38% or
Rp83.8 trillion. However, time deposits declined by 4.05% from the amount in 2019 to Rp87.3 trillion in 2020.
Savings accounts increased by 14.41% to Rp67.9 trillion in 2020, whereas current accounts grew by 14.14% to Rp55.9
trillion during the same period. As such, the CASA ratio of CIMB Niaga increased to 59.62% in 2020 from 55.35% in 2019.
This was in line with the focus of CIMB Niaga in generating low cost funding to support competitive loans. A number of
initiatives and promotional programs including product bundling, as well as enhancement of the customer experience,
are expected to increase low cost funding further.

in million Rupiah
Growth (%)
Customer Deposits 2020 2019 2018
2020-2019 2019-2018
Current Accounts 55,582,547 48,943,913 45,857,151 14.14 6.73
Saving Accounts 67,861,369 59,316,069 54,495,883 14.41 8.85
Time Deposits 83,805,508 87,340,318 90,397,184 (4.05) (3.38)
Total 207,529,424 195,600,300 190,750,218 6.10 2.54
CIMB Niaga focuses to continuously enhance its digital banking service, cross-selling and promotional programs to
attract customers. The BIZChannel @CIMB provides customers with the convenience for financial management as well
as banking transactions in a safe and practical manner for current accounts. CIMB Niaga also has a wide variety of
savings products that are designed to suit customer needs, drawing the public to open account with CIMB Niaga. In
addition, CIMB Niaga also has an on-line time deposit product that allows for customers to open a time deposit account
by accessing OCTO Clicks and OCTO Mobile without having to go to a CIMB Niaga branch.
CUSTOMER DEPOSITS BY CURRENCY

In 2020, Rupiah denominated accounts still dominated the customer deposits landscape of CIMB Niaga with a contribution
of 83.49% or equivalent to Rp173.3 trillion, whereas the remaining portion of 16.51% or equivalent to Rp34.3 trillion
belonged to deposits in foreign currencies. This composition did not change much with that of the previous year, when
the portion of customer deposits in Rupiah and foreign currency denominations were 80.97% and 19.03%, respectively.
in million Rupiah
Growth (%)
Customer Deposits by Currency 2020 2019 2018
2020-2019 2019-2018
Rupiah 173,264,236 158,374,501 151,975,085 9.40 4.21
Foreign Currencies 34,265,188 37,225,799 38,775,133 (7.95) (4.00)
Total 207,529,424 195,600,300 190,750,218 6.10 2.54
COMPOSITION OF TIME DEPOSITS BY MATURITY

In 2020, CIMB Niaga’s time deposits were well diversified. Time deposits with maturity of >1 - ≤3 months still had the
highest share, contributing 36.88% or Rp30.9 trillion. That amount grew by 1.77% from Rp30.4 trillion the previous year.
Whereas time deposits with maturity of > 6 - ≤ 12 months has the highest growth in 2020, grew by 112.15% YoY.
in million Rupiah
Growth (%)
Time Deposits by Maturities 2020 2019 2018
2020-2019 2019-2018
≤ 1 month 5,397,323 7,911,556 13,714,166 (31.78) (42.31)
> 1 - ≤ 3 months 30,911,303 30,373,167 43,168,955 1.77 (29.64)
> 3 - ≤ 6 months 19,286,415 23,787,943 10,777,700 (18.92) 120.71
> 6 - ≤ 12 months 13,431,388 6,331,123 5,911,452 112.15 7.10
> 12 months 14,779,079 18,936,529 16,824,911 (21.95) 12.55
Total 83,805,508 87,340,318 90,397,184 (4.05) (3.38)

Composition of Time Deposits by Maturity

(%)
18.61 21.68 17.63
6.54 7.25 16.02 > 12 months

11.92
27.24 23.01 > 6 - ≤ 12 months
47.75 > 3 - ≤ 6 months

34.78 36.88 > 1 - ≤ 3 months
15.18 9.05 ≤ 1 month
6.44
2018 2019 2020
Average annual interest rates of customer deposits are as follows:
in percentage (%)
2020 2019 2018

Average Annual Interest Rates Foreign Foreign Foreign
Rupiah Rupiah Rupiah
Currency Currency Currency
Current Accounts 2.72 0.71 2.58 0.91 2.71 0.62
Saving Accounts 2.84 0.40 2.97 0.54 2.67 0.46
Time Deposits 4.88 1.27 6.73 2.67 6.27 1.89
Customer Deposits by Segment

(%)
24.56
51.08 9.66
14.70
Corporate Banking SME Banking
Commercial Banking Consumer Banking
CUSTOMER DEPOSITS BY SEGMENTATION

The composition of customer deposits by segment in 2020 was dominated by Consumer Banking, which had the largest
share of 51.08%. The growth of customer deposits was evident in all market segments. Corporate banking, Commercial
banking, SME banking and Consumer Banking all grew by 9.37%, 6.70%, 19.64% and 1.24% to Rp51.0 trillion, Rp20.1
trillion, Rp30.5 trillion and Rp106.0 trillion, respectively, in 2020.

in trillion Rupiah
Growth (%)
Customer Deposits by Segment 2020 2019 2018
2020-2019 2019-2018
Corporate Banking 51.0 46.6 47.3 9.37 (1.42)
Commercial Banking 20.1 18.8 20.5 6.70 (8.53)
SME Banking 30.5 25.5 26.5 19.64 (3.65)
Consumer Banking 106.0 104.7 96.5 1.24 8.54
Total 207.5 195.6 190,7 6.10 2.54
DEPOSITS FROM OTHER BANKS

In 2020, CIMB Niaga posted deposits from other banks amounting to Rp2.9 trillion, an increase by 112.63% from
Rp1.4 trillion in 2019. The increase in deposits from other banks was mainly driven by an increase in the interbank call
money of Rp1.3 trillion. The largest portion of deposits from other banks was the current accounts of other banks that
accounted for 45.00% of the total deposits from other banks.
in million Rupiah
Growth (%)
Deposits from Other Banks 2020 2019 2018
2020-2019 2019-2018
Current Accounts 1,305,565 1,083,668 1,422,776 20.48 (23.83)
Saving Accounts 8,252 15,977 17,114 (48.35) (6.64)
Interbank call money 1,264,500 - 1,315,000 100 (100)
Time deposits. deposits on call. 323,239 264,941 173,803 22.00 52.44
mudharabah time deposits
Total 2,901,556 1,364,586 2,928,693 112.63 (53.41)
DEPOSITS FROM OTHER BANKS BY CURRENCY

Accounts in foreign currency denominations largely made up the deposits from other banks in 2020, which grew by
291.06% to Rp1.6 trillion. Meanwhile, deposits from other banks in Rupiah also increased by 37.99% to Rp1.3 trillion. In
2020, the composition of Rupiah and foreign currency was 45.76% and 54.24%, respectively.
Composition of Deposits from Other Banks by Currency

(%)
13.21 29.49 54.24
86.79
70.51 Foreign Currency
45.76 Rupiah
2018 2019 2020

MARKETABLE SECURITIES ISSUED

CIMB Niaga actively issues bonds, whether conventional or sukuk bonds, as an alternative to funding for its credit
expansion. The following table shows the bonds issued by CIMB Niaga in 2020:
Bond name Nominal Value (billion) Coupon Issuance Date Maturity Date
Shelf Registration Rp322.0 billion Nisbah by 14.50% (fourteen point fifty 27 March 2020 7 April 2021
Sukuk Mudharabah (Series A) percent) from revenue sharing with an
I Bank CIMB Niaga indication of profit sharing equivalent of
Phase III Year 2020 5.80% (five point eighty percent) p.a.
Rp287.0 billion Nisbah by 17.50% (seventeen point fifty 27 March 2020 27 March 2023
(Series B) percent) from revenue sharing with an
indication of profit sharing equivalent of
7.00% (seven percent) p.a.
Rp391.0 billion Nisbah by 18.13% (eighteen point 27 March 2020 27 March 2025
(Series C) thirteen percent) from revenue sharing
with an indication of profit sharing
equivalent of 7.25% (seven point twenty
five percent) p.a.
In addition to the bonds that were issued in the year, there were several listed bonds that had not matured as of 31
December 2020, as follows:
Bond name Nominal Value (billion) Coupon Issuance Date Maturity Date
Shelf Registration Rp182.0 (Series C) 8.25% 3 November 2016 3 November 2021
Bond II Bank CIMB
Niaga Phase I Year
2016
Shelf Registration Rp822.0 (Series C) 8.15% 23 August 2017 23 August 2022
Bond II Bank CIMB
Niaga Phase II Year
2017
Shelf Registration Rp843.0 (Series C) 7.75% 2 November 2017 2 November 2022
Bond II Bank CIMB
Niaga Phase III Year
2017
Shelf Registration Rp137.0 (Series B) 8.50% 20 September 2018 20 September 2021
Bond II Bank CIMB
Rp118.0 (Series C) 8.80% 20 September 2018 20 September 2023
Niaga Phase IV Year
2018
Shelf Registration Rp559.0 (Series B) Nisbah by 23.13% from revenue sharing 15 November 2018 15 November 2021
Sukuk Mudharabah with an indication of profit sharing
I Bank CIMB Niaga equivalent of 9.25% p.a
Phase I Year 2018
Shelf Registration Rp936.0 (Series B) Nisbah by 19.75% from revenue sharing 21 August 2019 21 August 2022
Sukuk Mudharabah with an indication of profit sharing
I Bank CIMB Niaga equivalent of 7.90% p.a
Phase II Year 2019
Rp429.0 (Series C) Nisbah by 20.63% from revenue sharing 21 August 2019 21 August 2024
with an indication of profit sharing
equivalent of 8.25% p.a
Shelf Registration Rp1,066.0 (Series B) 7.55% 19 December 2019 19 December 2022
Bond III Bank CIMB
Rp481.0 (Series C) 7.80% 19 December 2019 19 December 2024
Niaga Phase I Year
2019

By 2020, there were bonds that had matured, namely Bank CIMB Niaga Shelf Registration Bond II Bank CIMB Niaga
Phase II Year 2017 Series B with a face value of RP376.0 billion, Shelf Registration Bond II Bank CIMB Niaga Phase III
Year 2017 Series B amounting to Rp657.0 billion, Shelf Registration Sukuk Mudharabah I Bank CIMB Niaga Phase II Year
2019 Series A amounting to Rp635.0 billion and Shelf Registration Bond III Bank CIMB Niaga Phase I Year 2019 Series A
amounting to Rp276.0 billion.
With the additional issuance of bonds in 2020 and the repayment of bonds as mentioned above, the total amount of issued
securities that had not matured as of year-end 2020 was Rp6.7 trillion, declining by 12.49% from Rp7.5 trillion a year before.
SUBORDINATED BONDS
As at year-end 2020, the amount of Subordinated Bonds that had not matured was Rp224.2 billion, a decline from Rp1.8
trillion in 2019. There was not an issuance of Subordinated Bonds in 2020. As of 31 December 2020 there were listed
Subordinated Bonds that had not matured, as follows:
Subordinated Bond Name Nominal (miliar) Nisbah/Kupon Tanggal Penerbitan Tanggal Jatuh Tempo
Bank CIMB Niaga Subordinated Bond III Year 2018 Rp75.0 (Series A) 9.85% 15 November 2018 15 November 2023
Rp75.0 (Series B) 10.00% 15 November 2018 15 November 2025
Shelf Registration Subordinated Bond I Bank CIMB Rp83.0 8.05% 19 December 2019 19 December 2024
Niaga Phase I Year 2019
CIMB Niaga’s 2018 Subordinated Bonds III held AA ratings from PT Pemeringkat Efek Indonesia (Pefindo) and CIMB
Niaga’s 2019 Sustainable Subordinated Bonds I Phase I Year 2019 had AA ratings from Pefindo.
Throughout the year 2020, there were Subordinated Bonds that matured, as follows:
Nominal Value
Subordinated Bond Name Coupon Issuance Date Maturity Date
(billion)
Bank CIMB Niaga Subordinated Bond II Year 2010 Rp1,600.0 10.85% 23 December 2010 23 December 2020
The rating of Bank CIMB Niaga Subordinated Bonds II year 2010 was AA- from Fitch Ratings.
SECURITIES SOLD UNDER REPURCHASE AGREEMENT

The amount of securities sold under repurchase agreement in 2020 was Rp8.7 trillion, a decline of Rp1.8 trillion, or by
17.33%, from Rp10.5 trillion in 2019. The decline resulted mainly from securities sold under repurchase agreement with
Bank Indonesia as the counter party.
BORROWINGS
CIMB Niaga’s borrowings were derived entirely in the form of borrowings from other banks. In 2020, these borrowings
amounted to Rp933.4 billion, declining by 64.74% from Rp2.6 trillion the previous year. Borrowings in 2020 were made
entirely in the Rupiah currency. In comparison, the portions of Rupiah and foreign currency borrowings were 48.67%
and 51.33%, respectively, in 2019.
in million Rupiah
Growth (%)
Borrowings 2020 2019 2018
2020-2019 2019-2018
Rupiah 933,433 1,288,224 370,877 (27.54) 247.35
Foreign Currencies - 1,358,789 1,825,039 (100.00) (25.55)
Total 933,433 2,647,013 2,195,916 (64.74) 20.54

OTHER LIABILITIES
Other Liabilities amounted to Rp13.1 trillion in 2020, increasing by 11.16% from Rp11.8 trillion in 2019. The increase
resulted mainly from an increase in the amount of immediate payables of Rp1.9 trillion, increase in other liabilities of
Rp800.7 billion, offset by the decrease of acceptance payables of Rp1.6 trillion.
in million Rupiah
Growth (%)
Other Liabilities 2020 2019 2018
2020-2019 2019-2018
Acceptance Payables 2,153,756 3,767,071 4,462,483 (42.83) (15.58)
Accrued Expenses 3,314,704 3,002,769 2,665,340 10.39 12.66
Immediate Payables 3,636,684 1,781,962 2,240,191 104.08 (20.45)
Employee Benefits Obligation 1,098,334 1,131,727 930,196 (2.95) 21.67
Taxes Payables 301,192 498,541 461,141 (39.59) 8.11
Derivative Liabilities 738,351 474,915 684,269 55.47 (30.60)
Deferred Tax Liabilities - 73,238 - na na
Other Liabilities 1,863,689 1,035,915 929,398 77.30 11.46
Total 13,079,710 11,766,138 12,373,018 11.16 (4.90)
ACCEPTANCE PAYABLES TAXES PAYABLES AND DEFERRED TAX LIABILITIES

Acceptance payables amounted to Rp2.1 trillion as at Taxes payables amounted to Rp301.2 billion as at year-
year-end 2020, a decline of Rp1.6 trillion, from Rp3.8 end 2020, a decrease of Rp197.3 billion, or by 39.59%,
trillion a year ago, mainly as a result of the decline in from Rp498.5 billion a year before. The decrease resulted
acceptance payables in foreign currency of Rp979.1 mainly from the payment of corporate income tax article
billion. 25 payables of Rp101.2 billion and income tax article 4
(2) of Rp63.4 billion. There were no deferred tax liabilities
ACCRUED EXPENSES in 2020.
Accrued expenses amounted to Rp3.3 trillion as at year-
end 2020, an increase of Rp311.9 billion, or by 10.39%, DERIVATIVE LIABILITIES
from Rp3.0 trillion a year before. Accrued expenses Derivative Liabilities amounted to Rp738.4 billion as
mainly consist of accrued expenses from third parties. at year-end 2020, an increase of Rp263.4 billion, or by
55.47%, from Rp474.9 billion a year before. The increase
IMMEDIATE PAYABLES resulted mainly from increases in foreign currency
Immediate payables amounted to Rp3.6 trillion as option contract of Rp129.9 billion and interest rate swap
at year-end 2020, an increase of Rp1.9 trillion, or by contract of Rp51.8 billion.
104.08%, from Rp1.8 trillion in 2019. The increase came
from other immediate payables of Rp1.2 trillion incurred OTHER LIABILITIES
during the year. Other Liabilities amounted to Rp1.8 trillion as at year-end
2020, an increase of Rp800.8 billion, or by 77.30%, from
EMPLOYEE BENEFITS OBLIGATION Rp1.0 trillion the previous year. The increase was mainly
Employee benefits obligation amounted to Rp1.09 trillion due to an increase in the provisions for expected losses
as at year-end 2020, a decrease of Rp33.4 billion, or by on commitments and contingencies.
2.95%, from Rp1.13 trillion the year before. The decline
resulted mainly from the decrease in accrued bonus EQUITY
payments of Rp108.1 billion and MSS expenses of Rp64.7 On 31 December 2020, the amount of CIMB Niaga’s
billion. Meanwhile, the account of pension and other equity was Rp41.1 trillion, decreasing by 5.18% from
post retirement benefits increased by Rp139.4 billion. Rp43.3 trillion a year before. The decline was mainly due
to a decrease in retained earnings by Rp3.5 trillion.

in million Rupiah
Growth (%)
Equity 2020 2019 2018
2020-2019 2019-2018
Share capital 1,612,257 1,612,257 1,612,257 - -
Additional paid-in capital 7,033,450 7,033,450 7,033,450 - -
Treasury shares (253,832) (253,279) (250,321) 0.22 1.18
Reserve on revaluation of fixed assets 3,515,604 3,520,447 3,077,883 (0.14) 14.38
General and statutory reserves 351,538 351,538 351,538 - -
Unrealised (loss)/gain on marketable securities 1,145,286 (138,554) (436,355) 926.60 (68.25)
and government bonds on fair value through other
comprehensive income
Other Equities 60,707 59,797 50,730 1.52 17.87
Retained earnings 27,573,929 31,093,235 28,140,392 (11.32) 10.49
Non-controlling interest 14,112 15,275 1,005 (7.61) 14x
Total 41,053,051 43,294,166 39,580,579 (5.18) 9.38
SHARES CAPITAL AND ADDITIONAL PAID-IN UNREALIZED (LOSS)/GAIN ON MARKETABLE

CAPITAL SECURITIES AND GOVERNMENT BONDS ON
The Shares Capital and Additional Paid-in Capital of CIMB FAIR VALUE THROUGH OTHER COMPREHENSIVE
Niaga did not change in 2020, and had remained as they INCOME
were a year before, amounting to Rp1.6 trillion and Rp7.0 In 2020, the Bank posted an unrealized gain on
trillion, respectively. marketable securities and government bonds on fair
value through other comprehensive income amounting
TREASURY SHARES to Rp1.1 trillion, an increase of Rp1.3 trillion, or 926.60%,
In 2020, Treasury Shares decreased slightly by Rp553.0 from an unrealized loss of Rp138.6 billion posted in 2019.
million or 0.22% compare to 2019. In 2020 and 2019, the
number of shares granted to employees amounted to OTHER EQUITIES
1.241.633 and 231.586 shares, respectively. Other equities amounted to Rp60.7 billion in 2020,
an increase of 1.52% from Rp59.8 billion in 2019, the
RESERVE ON REVALUATION OF FIXED ASSETS entire increase of which resulted from an increase in the
In 2020, CIMB Niaga made an adjustment on the amount reserves set aside for shares-based compensation.
of revalued fixed assets of Rp4.8 billion, on assets that
should not have been revalued, resulting in a decrease RETAINED EARNINGS
in the posted valuation. This decrease had been posted The Bank posted retained earnings amounting to
as the “Reserve on the Revaluation of Fixed Assets” in the Rp27.6 trillion as of 31 December 2020, a decrease of
equity as of 31 December 2020. Rp3.5 trillion, or by 11.32%, from Rp31.1 trillion in 2019.
A portion of this decrease was the payment of cash
GENERAL AND STATUTORY RESERVES dividends amounting to Rp1,392.2 billion on the Bank’s
The general and statutory reserves of CIMB Niaga net profit of 2019.
amounted to Rp351.5 billion in 2020, unchanged from
those of 2019. These reserves were formed pursuant to NON-CONTROLLING INTERESTS
the Laws of the Republic of Indonesia No. 1/1995 that The portion of retained earnings attributed to non-
have been amended to Laws No. 40/2007 effective on controlling interests amounted to Rp14.1 billion in 2020,
16 August 2007 on the Limited Liability Company, which a decrease of Rp1.2 billion from Rp15.3 billion in 2019.
required all corporations to set aside a general reserves
of at least 20% of their fully paid-in capital. The laws did
not stipulate the time period of the reserves.

CONSOLIDATED STATEMENTS OF PROFIT AND LOSS

AND OTHER COMPREHENSIVE INCOME
in million Rupiah
Statements of Profit and Loss and Other Growth (%)

2020 2019 2018
Comprehensive Income 2020-2019 2019-2018
Interest and sharia income 20,703,099 21,689,486 20,293,247 (4.55) 6.88
Interest and sharia expenses (8,232,581) (9,121,468) (8,281,516) (9.74) 10.14
Net Interest Income 12,470,518 12,568,018 12,011,731 (0.78) 4.63
Other fees and commissions 1,738,053 2,206,680 2,151,855 (21.24) 2.55
Foreign exchange gains/(losses) (178,063) 2,937 38,323 (62x) (92.34)
Others 381,596 1,083,002 724,472 (64.76) 49.49
Total other operating income 1,941,586 3,292,619 2,914,650 (41.03) 12.97
Gains from trading financial instruments 1,140,561 586,536 802,607 94.46 (26.92)
Gains from sales of marketable securities 805,860 377,557 99,015 113.44 281.31
Total non-interest income 3,888,007 4,256,712 3,816,272 (8.66) 11.54
Impairment losses on financial and nonfinancial (5,403,886) (3,256,619) (3,029,532) 65.94 7.50
assets
Personnel expenses (4,270,770) (4,623,722) (4,001,791) (7.63) 15.54
General and administrative expenses (3,595,775) (3,696,805) (3,709,946) (2.73) (0.35)
Promotion expenses (234,239) (313,837) (292,391) (25.36) 7.33
Total other operating expenses (8,100,784) (8,634,364) (8,004,128) (6.18) 7.87
Total other operating expenses (BAU) * (8,100,784) (8,275,364) (8,004,128) (2.11) 3.39
Net Operating income 2,853,855 4,933,747 4,794,343 (42.16) 2.91
Non-operating income - net 93,565 20,150 56,475 364.34 (64.32)
Profit before tax 2,947,420 4,953,897 4,850,818 (40.50) 2.12
Income tax expense (936,166) (1,310,962) (1,368,390) (28.59) (4.20)
Net Income 2,011,254 3,642,935 3,482,428 (44.79) 4.61
Income before income tax (BAU) * 2,947,420 5,312,897 4,850,818 (44.52) 9.53
Income tax expense (BAU) * (936,166) (1,400,712) (1,368,390) (33.16) 2.36
Net Income (BAU) *
2,011,254 3,912,185 3,482,428 (48.59) 12.34
Other comprehensive income net of tax 1,278,553 744,539 (279,448) 71.72 366.43
Total comprehensive income 3,289,807 4,387,474 3,202,980 (25.02) 36.98
*
Excluded Mutual Separation Scheme (MSS) Cost by Rp359.0 billion
INTEREST AND SHARIA INCOME
in million Rupiah
Growth (%)
Interest and sharia income 2020 2019 2018
2020-2019 2019-2018
Loans 17,251,086 18,907,373 17,528,216 (8.76) 7.87
Marketable securities, government bonds and 3,186,572 2,352,734 2,390,264 35.44 (1.57)
securities purchased under resale agreement
Placements and current accounts with Bank 262,048 254,573 241,288 2.94 5.51
Indonesia and other banks
Others 3,393 174,806 133,479 (98.06) 30.96
Total 20,703,099 21,689,486 20,293,247 (4.55) 6.88

In 2020, CIMB Niaga generated total interest and sharia agreement increased by 35.44% to Rp3.2 trillion in 2020,
income of Rp20.7 trillion, this result was lower by 4.55% compared to Rp2.4 trillion of the previous year, in line
from Rp21.7 trillion in 2019. with the higher average balance of the marketable
securities, government bonds and securities purchased
CIMB Niaga’s interest income and sharia income were under resale agreement held by CIMB Niaga.
primarily derived from loans and financing, which
Composition of Interest and Sharia Income
declined by 8.76% from Rp18.9 trillion in 2019 to Rp17.3 (%)
trillion in 2020. The average interest rate on Rupiah 0.02
1.27
denominated loans and financing, was 9.80% in 2020
15.39
versus 10.60% in 2019. Whereas the average interest rate
on loans and financing in foreign currency was 4.35% in
2020 versus 4.46% in 2019.
CIMB Niaga also recorded interest income from

placements and current accounts with Bank Indonesia
and in other banks, amounting to Rp262.0 billion in 2020
an increased compared to Rp254.6 billion the previous
83.33
year. The increase was in line with the higher average
balance of the placements in 2020 than those of 2019. Placements and current accounts
Loans/Financing with Bank Indonesia and other banks
Marketable securities and
Interest income from marketable securities, government government bonds Others
bonds and from securities purchased under resale
INTEREST AND SHARIA EXPENSE

in million Rupiah
Growth (%)
Interest and Sharia Expense 2020 2019 2018
2020-2019 2019-2018
Customer Deposits: 7,114,288 7,853,484 7,127,430 (9.41) 10.19
Current Accounts 1,366,049 1,044,663 1,124,287 30.76 (7.08)
Saving Accounts 1,785,507 1,487,386 1,270,350 20.04 17.08
Time deposits and certificates of deposit 3,962,732 5,321,435 4,732,793 (25.53) 12.44
Marketable securities issued 618,882 473,246 435,150 30.77 8.75
Borrowings and subordinates bonds 314,185 347,587 379,817 (9.61) (8.49)
Others 185,226 447,151 339,119 (58.58) 31.86
Total 8,232,581 9,121,468 8,281,516 (9.74) 10.14
In 2020, CIMB Niaga’s interest and sharia expenses Composition of Interest Expense Out of Customer Deposits
(%)
amounted to Rp8.2 trillion, declining by 9.74% from
19.20
Rp9.1 trillion in 2019. The decline was mainly due to a
55.70
decrease in the interest expenses of time deposits and
certificates of deposit. In 2020, the interest expense
on customer deposits declined to Rp7.1 trillion from
Rp7.9 trillion in 2019. The interest expense on customer
deposits contributed to 86.42% of the total interest and
sharia expense in 2020, falling slightly from a share of
86.10% in 2019.
25.10
Current Accounts Saving Accounts Time Deposits

Interest expense on time deposits and certificates of NET INTEREST INCOME

deposits remained as the largest component of interest CIMB Niaga posted Net Interest Income, which declined
expense on customer deposits, accounting for 55.70% slightly by 0.78% to Rp12.5 trillion in 2020, from Rp12.6
or Rp4.0 trillion. However, interest expense on time trillion in 2019. This decline was influenced by the
deposits declined by 25.53% from Rp5.3 trillion the decrease in the Bank’s earning assets as well as the
year before. The decline in interest expense on time decreased of BI 7-Day Repo Rate that throughout 2020
deposits was in line with the decrease in the average was reduced by 125bps to 3.75%.
balance of deposits due to CIMB Niaga’s strategy in
focusing on harnessing low cost funding (current The decline Net Interest Income also effected the Bank’s
accounts and savings accounts). In addition to that, the Net Interest Margin (NIM) to 4.88% in 2020, compared to
average interest rates on time deposits both in Rupiah 5.31% in 2019.
and foreign currency denominations declined to 4.88%
Net Interest Income (Rp billion)
and 1.27%, respectively, in 2020 compared to 6.73% and
and NIM
2.67% in 2019. 5.31%
5.12%
4.88%
Whilst interest expense on savings accounts increased by 5.14%

4.91%
20.04%, this was in line with the growth in the balance of 4.45%
savings account in 2020 compared to that of the previous 12,568 12,471
12,012
year. Followed by interest expense on marketable
securities issued increased by 30.77%.
Interest expense from borrowings and subordinated

bonds declined slightly by 9.61% in line with the lower NIM CIMB Niaga
average balance of borrowings in 2020. NIM Industry
Other interest expense declined by Rp261.9 billion, or

58.58%, mainly derived from the interest expense on 2018 2019 2020
securities sold with the agreement to repurchase.
NON INTEREST INCOME

CIMB Niaga posted non interest income of Rp3.9 trillion in 2020, declining by 8.66% from Rp4.3 trillion in 2019, mainly
due to a decrease in other income by Rp701.4 billion, or 64.76%, from Rp1.1 trillion in 2019 to Rp381.6 billion in 2020.
in million Rupiah
Growth (%)
Non Interest Income 2020 2019 2018
2020-2019 2019-2018
Fees & commissions and others 1,738,053 2,206,680 2,151,855 (21.24) 2.55
Gains from sale of trading financial instruments 1,140,561 586,536 802,607 94.46 (26.92)
Gains from sale of marketable securities 805,860 377,557 99,015 113.44 281.31
Foreign exchange gains/(losses) (178,063) 2,937 38,323 (62x) (92.34)
Others 381,596 1,083,002 724,472 (64.76) 49.49
Total 3,888,007 4,256,712 3,816,272 (8.66) 11.54

In 2020, the largest component of non-interest income was derived from other provision and commission income with
a share of 44.70%. Other provision and commission income declined by 21.24% that resulted mainly from the decrease
in credit card interchange fee income, customer administration fees and agency fees amounting to Rp157.3 billion,
Rp124.8 billion and Rp120.0 billion or decreasing by 52.37%, 18.94 and 42.28% respectively.
in million Rupiah
Growth (%)
Fee and Commissions Income 2020 2019 2018
2020-2019 2019-2018
Customer administration fees 534,111 658,922 526,889 (18.94) 25.06
Bancassurance income 438,493 508,717 637,487 (13.80) (20.20)
Credit card interchange fee income 143,018 300,273 285,918 (52.37) 5.02
Agency fees 163,802 283,811 216,703 (42.28) 30.97
Export-import document fees 130,125 133,370 163,033 (2.43) (18.19)
Custodian services fees 107,065 109,299 95,360 (2.04) 14.62
Clearing and transfer services 88,253 96,716 98,298 (8.75) (1.61)
Annual fee income 51,381 50,389 42,456 1.97 18.69
Merchant commission 67,984 48,049 48,551 41.49 (1.03)
Others 13,821 17,134 37,160 (19.34) (53.89)
Total 1,738,053 2,206,680 2,151,855 (21.24) 2.55
Gains from trading financial instruments increased by Rp554.0 billion, or 94.46%, from that of the previous year, mainly
derived from derivative instruments.

Whereas gains from sales of marketable securities increased by Rp428.3 billion, or 113.44%, to Rp805.9 billion in 2020
compared to Rp377.6 billion in 2019, which resulted primarily from larger gains on sale of government bonds, which
had increased from Rp299.7 billion in 2019 to Rp747.0 billion in 2020. The gains resulted from the sale of government
bonds with nominal values of Rp259.0 trillion and USD913.7 million in 2020.
Other non-interest income declined by Rp701.4 billion, or 64.76% from the previous year. Other non-interest income
mainly resulted from income that was derived from loan recovery income and income from loan sale exercise.
The ratio of non-interest income to total operating income (Fee Income Ratio) declined from 25.30% in 2019 to 23.77%
in 2020.
IMPAIRMENT LOSSES ON FINANCIAL AND NON-FINANCIAL ASSETS

CIMB Niaga’s impairment losses on financial and non-financial assets amounted to Rp5.4 trillion in 2020, an increase of
Rp2.1 trillion, or by 65.94%, from Rp3.3 trillion in 2019.
in million Rupiah
Impairment Losses on Financial and Growth (%)

2020 2019 2018
Non-Financial Assets 2020-2019 2019-2018
Loans 5,266,399 3,302,340 2,985,982 59.47 10.59
Others 137,487 (45,721) 43,550 400.71 (204.99)
Total 5,403,886 3,256,619 3,029,532 65.94 7.50

The increase in impairment losses on financial and non-financial assets resulted primarily from the increased in the
provisioning on loans by 59.47% to Rp5.3 trillion. This was followed by an increase in the provisioning for others
by 400.71% or Rp183.2 billion, mainly as a result of provisioning on marketable securities of Rp152.3 billion. Other
provisioning also includes the provisioning on foreclosed assets, placements in Bank Indonesia and other banks,
suspended accounts as well as on commitment and contingency accounts.
Improving the asset quality remained as a primary focus of CIMB Niaga. As such, CIMB Niaga carries out periodical
monitoring over asset quality. The increase in provisioning and improvement of the asset quality has a positive impact
on the ratio of LLC (Loan Loss Coverage) that stood at 194.33% in 2020, an improvement from 113.60% in 2019. This
reflects the consistency of CIMB Niaga in its adherence to the prudential principles.
OTHER OPERATING EXPENSES

In 2020, Other Operating Expense declined by 6.18% to Rp8.1 trillion, compared to Rp8.6 trillion in 2019. The decline
was mainly due to the decrease of Personnel Expense by Rp353.0 billion, or 7.63% to Rp4.2 trillion in 2020, compared
to Rp4.6 trillion in 2019.
in million Rupiah
Growth (%)
Other Operating Expenses 2020 2019 2018
2020-2019 2019-2018
Personnel expenses 4,270,770 4,623,722 4,001,791 (7.63) 15.54
General and administrative expenses 3,595,775 3,696,805 3,709,946 (2.73) (0.35)
Promotion expenses 234,239 313,837 292,391 (25.36) 7.33
Total 8,100,784 8,634,364 8,004,128 (6.18) 7.87
Total (BAU)* 8,100,784 8,275,364 8,004,128 (2.11) 3.39
* Excluding personel expenses - MSS cost by Rp359.0 billion
PERSONNEL EXPENSES Personnel Expenses

(Rp billion)
Personnel Expense declined by 7.63% to Rp4.3 trillion in
200
2020, compared to Rp4.6 trillion the previous year. This 195
145
resulted primarily from a reduction in expenses related

to the Mutual Separation Scheme (MSS), which in 2019 2,045* 1,629
1,637
was posted in the amount of Rp359.0 billion, offset by the Training and education
increase in the amount of salaries and wages by 4.95% or Allowances for employees
Rp117.7 billion during the year. Previously, CIMB Niaga 2,170 2,379 2,497
Salaries and wages
had offered the MSS program to employees who wish
to retire early before reaching their retirement age. The
program is voluntary and is open to all employees under 2018 2019 2020 Including PPKS fees of Rp359 billion
*
certain terms and conditions and has to be approved

by the Bank. A total of 1,042 employees had availed
themselves to the program in 2019. GENERAL AND ADMINISTRATIVE EXPENSES
General and Administrative (G&A) Expenses decline by
2.73% or Rp101.0 billion, primarily due to a decrease in
other G&A expenses of Rp281.0 billion, followed by the
decrease in office equipment expenses of Rp42.0 billion,
despite increases in communication expenses of Rp95.1
billion and third-party service expenses of Rp95.0 billion.

General and Administrative Expenses by the Mandatory Reviewer Team that is led by the
(Rp billion)
Director of Finance and SPAPM. Replacing the erstwhile
1,122 929 648
EFI Champion team, the reviewer team constitutes the
Bank’s commitments towards implementing responsible
1,091
Others cost efficiencies, and provides evaluations and inputs
981
996
Communication and Transportation on what is considered feasible costs in all of the Bank’s
Rental, Depreciation and business process.
988
956 Building Maintenance
933
Professional Fees
545
707 802 Several initiatives on cost efficiencies continued to be
129 109 67 Office Supplies driven throughout 2020, including implementing the
2018 2019 2020 investment policy; implementing a disciplined approach
to cost management by meeting annual budgets;
improving the process by which costs are recognized;
Meanwhile, Promotion Expense declined by Rp79.6 implementing FSAS 73 (IFRS 16) on rental expense;
billion, or 25.36%, to Rp234.2 billion in 2020 from Rp313.8 developing the SMART system that allows for more
billion in 2019. This was in line with the Bank’s decision to efficient operations such as the paperless system in
reduce promotional events in favor of digital promotion. the administration of costs and the YODA system for
personnel-related expenses. Initiatives were also taken
All told, the ratio of cost to income in 2020 improved to in evaluating and monitoring branch-office expenses;
48.95%, declining from 51.20%. CIMB Niaga will continue relying more on digital media for promotional activities;
to commit to efficiency in all aspects of the Bank’s meetings and employee trainings as well as for other
operations, by increasing cost effectiveness to reduce employee activities that were more carefully vetted. Bank-
overall operational expenses. wide cost efficiency measures involving CIMB Niaga’s
active branch offices also included a reevaluation of the
COST EFFICIENCY PROGRAM number and expenses related to contract personnel in
To create sustainable cost efficiencies, CIMB Niaga has each branch.
continued to instill the smart spending culture among
employees since 2014. With the smart spending culture, NON OPERATING INCOME – NET
the Bank focuses on costs that are considered to be CIMB Niaga’s non operating income - net amounted to
good costs and eliminates bad costs. For instance, CIMB Rp93.6 billion as at year-end 2020, an increase of Rp73.4
Niaga carries out innovative cost efficiency measures billion, or 364.34%, from Rp20.2 billion the previous year.
across all business lines. CIMB Niaga conducts prudent The increase was mainly due to an increase in other
cost management at all times in Operating Expenses income of Rp70.7 billion followed by an increase in rental
(Opex) and Capital Expenditure (Capex), monitored income of Rp2.5 billion.
in million Rupiah
Growth (%)
Non-Operating Income - Net 2020 2019 2018
2020-2019 2019-2018
Gains on sale of fixed assets 3,748 1,262 10,775 196.99 (88.29)
Rental income 1,838 1,473 2,355 24.78 (37.45)
Fines (707) (555) (35,974) 27.39 (98.46)
Others - net 88,686 17,970 79,319 393.52 (77.35)
Total 93,565 20,150 56,475 364.34 (64.32)
PROFIT BEFORE INCOME TAX

CIMB Niaga posted profit before income tax of Rp2.9 trillion for the year 2020, a decline of Rp2.0 trillion, or by 40.50%
from Rp5.0 trillion in 2019. The decline was mainly due to the increase in provisions expense by 65.94 % or Rp2.1 trillion.
This was in line with the implementation of FSAS 71 in the calculation of provisioning expense effective 1 January 2020.

INCOME TAX
In 2020, CIMB Niaga incurred a corporate income tax Rp936.2 billion, a decline of 28.59% from Rp1.3 trillion in 2019. The
decline resulted from a reduction in the current tax expense compared to that of the previous year, and in line with the
Bank’s lower profitability. On the other hand, deferred taxes increased as an impact of tax rate adjustment amounting
Rp240.7 billion.
in million Rupiah
Growth (%)
Income Tax 2020 2019 2018
2020-2019 2019-2018
Current tax 689,519 1,304,974 1,197,196 (47.16) 9.00
Deferred tax 246,647 5,988 171,194 41x (96.50)
Total 936,166 1,310,962 1,368,390 (28.59) (4.20)
NET PROFIT
The Net Profit of CIMB Niaga amounted to Rp2.0 trillion in 2020, declining by 44.79% from Rp3.6 trillion in 2019. The
decline was largely in line with the conditions of the banking industry and macro-economy in general as a result of the
COVID-19 pandemic.
OTHER COMPREHENSIVE INCOME AFTER TAX

In 2020, CIMB Niaga posted other comprehensive income after tax of Rp1.3 billion, compared to Rp744.5 billion the year
before. This resulted from higher gain from changes in the fair value of securities and government bonds classified as fair
value through comprehensive income.
in million Rupiah
Growth (%)
Other Comprehensive Income After Tax 2020 2019 2018
2020-2019 2019-2018
Reserve on revaluation of fixed assets (555) 5,565 243,638 (109.97) (97.72)
Remeasurement of post employment benefits (4,843) 490,097 - (100.99) na
obligation actuarial gains/(losses)
Income tax relating to item that will not be reclassified 111 (48,924) (60,909) 100.23 19.68
to profit or loss
Item that will not be reclassified to profit or loss (5,287) 446,738 182,729 (101.18) 144.48
(Loss)/gain from changes in the fair value of securities 1,604,114 351,428 (553,597) 356.46 163.48
and government bonds classified as fair value
through comprehensive income
Reclassification adjustment on (losses)/gains which (34,280) 45,640 (62,639) (175.11) 172.86
already included in profit or loss
Income tax relating to item that will be reclassified to (285,994) (99,267) 154,059 (188.11) (164.43)
profit or loss
Item that will be reclassified subsequently to 1,283,840 297,801 (462,177) 331.11 164.43
profit or loss
Total 1,278,553 744,539 (279,448) 71.72 366.43
EARNINGS PER SHARE

Earnings per share is calculated by the dividing the allocated net profit for shareholders with the weighted average of
outstanding common shares in the current year. CIMB Niaga posted Earnings per Share (EPS) of Rp80.72 per share in
2020, compared to Rp146.21 in 2019. The decline in Earnings per Share resulted mainly due to the COVID-19 pandemic
that suppressed the net profit of the Bank. In the years 2018-2020, CIMB Niaga did not have the potential for diluted
shares.

STATEMENTS OF CASH FLOWS
in million Rupiah
Growth (%)
Statement of Cash Flow 2020 2019 2018
2020-2019 2019-2018
Cash flow from/(to) operating activities 28,624,928 2,070,946 (749,516) 13x 376.30
Cash flow from/(to) investment activities (26,763,211) 1,694,831 (1,608,846) (17x) 205.34
Cash flow from/(to) financing activities (6,583,642) 1,398,986 (5,146,047) (570.60) 127.19
Exchange rate differences in cash and cash 302,450 (435,089) 566,687 169.51 (176.78)
equivalents
Total (increase/(decrease) in cash and cash equivalents (4,419,475) 4,729,674 (6,937,722) (193.44) 168.17
Cash and cash equivalents at beginning of the period 32,458,388 27,728,714 34,666,436 17.06 (20.01)
Cash and cash equivalents at end of the period 28,038,913 32,458,388 27,728,714 (13.62) 17.06
As of year-end 2020, the amount of cash and cash equivalent of CIMB Niaga was Rp28.0 trillion, a decline of Rp4.4 trillion
compared to that of Rp32.5 trillion as at the beginning of the year.

CASH FLOW FROM/(TO) OPERATING ACTIVITIES
In 2020, CIMB Niaga obtained a net cash inflow from operating activities amounting to Rp28.6 trillion, an increase of 13
times, or Rp26.6 trillion, from the position of cash and cash equivalent in 2019 of Rp2.1 trillion. The increase was mainly
attributable to the higher loans disbursement of Rp23.6 trillion and customer deposits of Rp7.1 trillion, off-set by the
decline in interest income, provision and commission of Rp2.7 trillion.
CASH FLOW FROM/(TO) INVESTMENT ACTIVITIES

In 2020, CIMB Niaga incurred a net cash outflow for investing activities amounting to Rp26.8 trillion, compared to a cash
inflow from investing activities of approximately Rp1.7 trillion in 2019. The cash outflow in 2020 was mainly due to the
net purchase of government bonds and marketable securities at fair value through other comprehensive income and
amortized cost at Rp25.8 trillion.
CASH FLOW FROM/(TO) FINANCING ACTIVITIES

In 2020, CIMB Niaga incurred a net cash outflow on financing activities amounting to Rp6.6 trillion, compared to net
cash inflow of approximately Rp1.4 trillion from financing activities in 2019. The cash outflow in 2020 was mainly due
to marketable securities issued by the Bank amounting to Rp2.8 trillion and a decline in the Bank’s borrowings of Rp2.0
trillion.

KEY FINANCIAL RATIOS
CIMB Niaga conducts its business activities in the banking sector in line with the prudential principles and in compliance
with the regulations of Bank Indonesia and OJK, the prevailing laws and regulations, and adheres to good corporate
governance. The Bank is able to meet the financial ratios set by the regulator amid its on-going loan expansion efforts
to take advantage of improving economic growth.
in percentage (%)
No Key Financial Ratios 2020 2019 2018

1 Net Interest Margin (NIM) 4.88 5.31 5.12
2 CASA Ratio 59.62 55.35 52.61
3 Gross Non-Performing Loans (NPL Gross) 3.62 2.79 3.11
4 Net NPL Ratio 1.40 1.30 1.55
5 Cost to Income Ratio 48.95 51.20 50.21
6 Cost of Credit Ratio 2.83 1.75 1.63
7 Loan to Deposit Ratio (LDR) 82.91 97.64 97.18
8 Liquidity Coverage Ratio (LCR) - Consolidated 235.17 166.72 117.91
9 Capital Adequacy Ratio (CAR) 21.92 21.47 19.66
10 CET-1 Capital Ratio 20.80 20.20 18.40
11 Return on Assets Ratio (ROA) 1.06 1.86 1.85
12 Return on Equity Ratio (ROE - Tier 1) 5.33 9.03 9.49
13 Operating Expenses to Operating Income (BOPO) 89.38 82.44 80.97

PRIME LENDING RATE
All Commercial Banks performing conventional business margin component that is determined by the Bank in its
activities have an obligation to report and publish the lending activities. The Prime Lending Rate calculation has
Prime Lending Rate in Rupiah in accordance with Financial not taken into account the risk premium component of
Services Authority (OJK) Regulation No. 37/POJK.03/2019 each debtor, whose amount is determined on the risk
concerning Transparency and Publication of Bank assessment of respective debtors. Therefore, the loan
Reports and Circular Letter of OJK No. 9/SEOJK.03/2020 interest rate charged to the debtor is not necessarily the
regarding Transparency and Publication of Conventional same as the Prime Lending Rate.
Commercial Bank’s Reports.
CIMB Niaga is required to report the Prime Lending Rate
The Prime Lending Rate reporting and publication is calculation to OJK on a monthly basis and periodically
one of the efforts taken by the Bank to provide clarity widely publish in the media. The Prime Lending Rate
to customers and help the customers to determine the calculation applies to corporate loans, retail loans
benefit, cost and credit risk offered. In addition, the and consumer loans (mortgage and non-mortgage).
Prime Lending Rate is also an effort to improve good The classification of corporate loans, retail loans and
governance and encourage healthy competition in the consumer loans (mortgage and non-mortgage) based on
banking industry, among others by encouraging a better the internal criteria used by the Bank.
market discipline.
In determining the Prime Lending Rate, CIMB Niaga
The Prime Lending Rate is used as an indicator of the considers the alignment of its Prime Lending Rate to
loan interest rate to be applied to customers applying regulatory requirements, refers to the movement of BI
for loans at CIMB Niaga. CIMB Niaga constantly updates 7-Day Reverse Repo Rate and the average market lending
the Prime Lending Rate in accordance with BI 7-Day rate. In addition, the Bank’s operating cost and funding
Reverse Repo Rate movement as determined by Bank cost are also key factors for CIMB Niaga to determine the
Indonesia. The Prime Lending Rate is calculated based on Prime Lending rate to remain competitive in the market.
3 (three) components, namely the cost of funds that arise The comparison between the 2020 Prime Lending Rate
from customer deposits, operating expenses incurred and the 2019 average Prime Lending Rate as follows:
for funding and lending activities, as well as the profit
Prime Lending Rate by Loan Segment

Loans Consumer Loans BI 7DRR
Corporate Retail Mortgage Non-Mortgage
2020
March 9.40% 10.10% 9.55% 9.95% 4.50%
June 9.40% 10.05% 9.50% 9.95% 4.25%
September 9.40% 9.95% 9.50% 9.95% 4.00%
December 9.40% 9.95% 9.50% 9.95% 3.75%
2019
2019 Average Rate 9.56% 10.36% 9.83% 10.21% 5.63%
CIMB Niaga’s loans classification for the Prime Lending Rate calculation based on business segment, as follows:
1. Corporate loans is provided to Corporate Banking customers and High-End Commercial Banking customers;
2. Retail loans is provided to Small-Medium Enterprise Commercial Banking customers;
3. Micro loans – CIMB Niaga no longer has micro loans since the fourth quarter of 2017;
4. Consumer loans (mortgage and auto loans), excluding credit cards and unsecured loans.
The latest Prime Lending Rate information can be accessed at any time through publications in all branch offices as well
as the official website of CIMB Niaga (https://www.cimbniaga.co.id/id/about-us/news/prime-lending-rate).

COMMITMENTS AND CONTINGENCIES
The amount of commitments and contingencies that are exposed to credit risk as of 31 December 2020 reached Rp79.7
trillion, a decline of 2.35% or Rp1.9 trillion from Rp81.6 trillion the year before. The decline was mainly due to the
decrease in unutilized portion of fund facilities from Rp75.9 trillion in 2019 to Rp73.5 trillion in 2020, offset by the
increase in outstanding Irrevocable Letters of Credit of Rp2.2 trillion in 2019 to Rp2.8 trillion in 2020. Meanwhile, net
contingencies amounted to Rp3.4 trillion in 2020 compared to Rp3.4 trillion in 2019.
in million Rupiah
Growth (%)
Commitments and Contingencies 2020 2019 2018
2020-2019 2019-2018
COMMITMENTS
Commitments Payable
Unutilized portion of fund facilities (73,537,777) (75,928,915) (71,836,891) (3.15) 5.70
Outstanding irrevocable letters of credit (2,812,599) (2,159,588) (3,532,770) 30.24 (38.87)
Others (4,290) (143,064) (103,849) (97.00) 37.76
Total Commitments Payable (76,354,666) (78,231,567) (75,473,510) (2.40) 3.65
Commitments - net (76,354,666) (78,231,567) (75,473,510) (2.40) 3.65
CONTINGENCIES
Contingent receivables
Guarantees received 213,904 229,544 184,961 (6.81) 24.10
Interest receivable on non-performing assets 496,331 766,565 645,244 (35.25) 18.80
Total contingent receivables 710,235 996,109 830,205 (28.70) 19.98
Contingent Payable
Guarantees issued (4,082,323) (4,411,683) (4,505,446) (7.47) (2.08)
Total Contingent Payable (4,082,323) (4,411,683) (4,505,446) (7.47) (2.08)
Contingencies - net (3,372,088) (3,415,574) (3,675,241) (1.27) (7.07)
COMMITMENTS AND CONTINGENCIES -NET (79,726,754) (81,647,141) (79,148,751) (2.35) 3.16

BRIEF REPORT OF SUBSIDIARIES
PT CIMB Niaga Auto Finance (“CNAF”) is a subsidiary CIMB Niaga as the parent company. This transformation
entity of PT Bank CIMB Niaga Tbk that is engaged in is also aimed at changing the paradigm of CNAF that
the financing business. As of 31 December 2020, a total no longer only focuses in the financing of four-wheeled
of 99.93% shares of CNAF were held by PT Bank CIMB vehicles but is now expanding its financing segments to
Niaga Tbk, with the remaining 0.07% shares held by include multipurpose financing and Haj financing.
PT Niaga Manajemen Citra. On January 29, 2021,
PT CIMB Niaga Auto Finance (Subsidiary) has bought back As a manifestation of this transformation, CNAF has
its outstanding shares from PT Niaga Manajemen Citra. launched the CNAF Mobile application. This application
The repurchased shares amounted to 9,221 (full value) will provide convenience to potential debtors to apply
shares or equivalent to 0.07% ownership percentage of for financing through the smartphone with simple
the total issued and fully paid CNAF shares with a total requirements, monitor the status of application in real
transaction value of Rp1,1 billion. The transaction has time, and obtain product information and financing
received approval from OJK through Letter No. S-15/ program.
NB.11/2021 dated 29 January 2021. CNAF currently
operates 36 offices spread across Indonesia, employing In addition to launching the CNAF Mobile application,
841 personnel. CNAF also introduced attractive programs throughout
2020, among which are Xtra Expo that allows for down
In connection with business developments, CNAF payment using the Poin Xtra (a synergy with the product
made changes to its trademark to better reflect and of the parent company), Mercedes Benz GLA Star Expo
accommodate future business strategies. The trademark program, the 39th CNAF Anniversary program, and
change made by CNAF is in the form of a change in the Hayafest program.
logotype, from CIMB Niaga Auto Finance to CIMB Niaga
Finance, with the symbol used in the form of an arrow CNAF continues to create synergy with CIMB Niaga such
which means thinking and acting for the progress of the as developing business initiatives through diversifying
company, while the rectangle symbolizes assertiveness, the Company’s customer acquiring channels including
honesty and integrity as well as reliability. The trademark strengthening cross-selling programs, penetrating the
change was informed to the Directorate General of digital segment and enhancing the Service-to-Sales
Intellectual Property on 15 October 2019 and to the OJK channel. Moreover, our asset portfolio is managed more
on 7 November 2019. effectively by a number of strategies, one of which is
through the anti-attrition program and risk-based pricing.
In the financial statement for the period ended 31
December 2020, CNAF posted profit before tax of In response to COVID-19, CNAF protects the customers
Rp274.7 billion and had total outstanding financing of by urging them to use the CNAF Mobile to apply for
Rp3.8 trillion, increasing by 5.11% from Rp3.6 trillion in financing to support physical distancing, This proves that
2019. The same was true for asset under management by CNAF is always there with the communities including
CNAF, which grew by 12.47% year-over-year from Rp4.9 during hard times.
trillion in 2019 to Rp5.5 trillion by year-end 2020. Total
assets was reported at Rp3.1 trillion, with an increase in CNAF participates in supporting the government
the portion of joint financing (JF) in 2020. CNAF continues program in the restructuring program to help debtors
to emphasize on asset quality through prudent financing. who are affected by COVID-19. In addition, as part of the
Company’s concern for social issues, CNAF supported
With the value proposition of ‘quick and simple,’ CNAF the efforts to curtail COVID-19 by donating personal
aims to grow competitively and soundly in the financing prospective gear, masks and hand gloves for medics who
industry. CNAF has recently changed the company’s logo, are the front-liners in the fight against the COVID-19 in
a transformative move to strengthen its positioning as Jakarta hospitals.
the subsidiary entity that continues to synergize with

To date, the CNAF continues to undertake several initiatives and adjustments to its organization, business model, and to
broaden its marketing reach through digitalization, emphasizing on the customer experience, in line WITH CNAF’s vision
to be the most profitable multi-finance company in its industry. Every step that is taken by the CNAF today, and in the
years to come, constitute a manifestation of CNAF’s commitments towards the shareholders and all other stakeholders
to continue to grow soundly and sustainably.
Out of all of improvement and sustainable growth initiatives undertaken in 2020, CNAF was awarded with the following
recognitions:
• 20 Pillar Financial Award 2020 from Iconomics
• Indonesia Financial Top Leader Award 2020 in the Category of Multifinance with Assets of 2.5-5.0 trillion from Warta Ekonomi
• Best Leader For Business Sustainability Through Corporate Development Initiative - Stakeholder Engagement
• Multifinance Award 2020 with the Predicate “Very Good” for Asset Category of 1-5 trillion from Infobank
• Indonesia Multifinance Award 2020 from Warta Ekonomi
• Top Two Outstanding Financial Performance of Indonesia Best Multi-finance Award 2020 and Its Innovation on
Digital Finance through Mobile Application, Category Assets of 2-5 trillion
• Indonesia Most Admired CEO 2020 Category Multifinance Asset 2.5-5.0 trillion from Warta Ekonomi
In the mid of 2017, CIMB Group Holdings Berhad

(“CIMBGH”) announced that a wholly-owned subsidiary CNS received an operating license from Otoritas Jasa
of CIMBGH had signed a share purchase agreement with Keuangan (OJK) Capital Market and the approval to
China Galaxy International Financial Holdings Limited increase its paid-in capital in early and late 2019. As
(“CGIFHL”). CIMBGH and CGIFHL subsequently entered an Investment Banking business unit, CNS focused on
into a strategic partnership, forming the securities providing securities underwriting and corporate finance
brokerage business unit of CIMBGH. advisory services.
Based on this agreement, the Investment Banking In 2020, the first year after increasing its paid-up capital,
business unit of CIMBGH are regionally separated of the CNS began to book income amounting to Rp21.5 billion,
scope from this strategic partnership. Hence, CIMBGH mainly derived from its securities underwriting and
internally reorganized all of its Investment Banking corporate finance advisory services. With this encouraging
business units, including those in Indonesia. In Indonesia, first year experience, CNS will continue to make strategic
the Investment Banking business unit was placed under steps to grow its business by placing a strong emphasis
a new entity, PT CIMB Niaga Sekuritas (CNS), which was on good corporate governance to create optimal value
legally established in 2018, and in which CIMB Niaga held for its stakeholders.
94.78% ownership shares.

OTHER MATERIAL FINANCIAL INFORMATION

ANALYSIS OF ABILITY TO PAY DEBTS AND
RECEIVABLES COLLECTIBILITY
ABILITY TO PAY DEBTS Detailed information of CIMB Niaga’s liquidity

CIMB Niaga’s ability to meet both long-term and short management can be found in the discussion of liquidity
term liabilities, is measured through several ratios, risk in the Risk Management Section of this Annual
including liquidity ratio, solvency ratio and profitability Report.
ratio. The ability to repay debts is also reflected from the
Bank’s participation in the guarantee of the Indonesia STRESS TESTING
Deposit Insurance Corporation. CIMB Niaga undertakes stress testing as one of the risk
management methods to evaluate capital resilience,
In addition, Pefindo, the external rating agency has issued liquidity and the ability of the Bank to absorb losses in
an excellent rating for CIMB Niaga, namely a corporate an exceptional but plausible crisis events; also identifies
rating of idAAA, while Fitch issues National Ratings for steps to be taken to mitigate risk and maintain capital.
Long-term and Short-term debts of AA+(idn) and F1+(idn),
respectively; whereas Long-term and Short-term Foreign The scope of stress testing covers the main types of
Currency Ratings are BBB- and F3, respectively. risk, namely credit risk (including the wholesale and
retail segments), market risk (including interest rate and
The rating for long-term outlook from Fitch is Negative. exchange rate risks) and liquidity risk. There are several
Moody’s issues ratings of Baa1/P-2 and Baa2/P-2 on types of stress testing that are periodically conducted by
the Bank’s Counterparty Risk and Long-term Deposits, the Bank, one of which is the integrated stress testing that
respectively; and ba1 and baa2 for Baseline Credit is conducted twice a year with the use of several levels
Assessment and Adjusted Baseline Credit Assessment, of severity. This stress testing is based on a simulation
respectively. Moody’s rating for Long-term outlook is of a market wide crisis and is forward looking by taking
stable. into account the interaction of the banking system and
the economy at large, including the impact of changes
The liquidity and assets-liabilities management of CIMB in overall market conditions. The market wide scenario
Niaga is carried out under the coordination of the Asset refers to the latest conditions, global historical issues as
Liability Committee (ALCO) that holds monthly meetings well as domestic issues such as slowing economic growth
with the business units, treasury, credit, funding and in several developed countries, geopolitical conditions
other relevant units, to ensure a liquidity position at the overseas and the COVID-19 pandemic and its effect on
desired level. CIMB Niaga’s liquidity management focuses the Indonesian economy, such as declining exports,
on adjusting the cash inflow and outflow. The cash flow depreciation of the Rupiah, inflation and rising interest
gap is anticipated by managing first-tier liquid assets such rates. The Bank also conducts stress testing on an ad hoc
as maintaining mandatory reserves, and highly liquid basis if deemed necessary.
short-term marketable securities. Second-tier liquid
assets are managed through short –term placements in In addition to any market wide crisis, in line with
the other banks, available for sale marketable securities prevailing best practices, the Bank has also taken into
and government bonds. Liquidity management is also account the impact of idiosyncratic (Bank specific)
performed by managing the funding structure by taking scenarios in its stress testing results. An idiosyncratic
into account depositors’ concentration limits. This scenario is a stress scenario occurring in a bank due to
liquidity management uses the liquidity ratio information specific issues at the bank such as high levels of non-
set by the management and prepared by the Risk performing loans, operational risk events (external or
Management Unit. internal fraud), large fund withdrawals, inability to obtain
funding, deteriorating bank reputation and others.

The results of integrated stress testing that relates to In SEBI No. 11/25/PBI/2009, which was followed by SEOJK
capital will be used by the Bank among other reasons to No. 34/SEOJK.03/2016 and POJK No. 18/POJK.03/2016 on
determine capital reserves in a stressful situation for its the Implementation of Risk Management for Commercial
annual capital planning and formulation of the Capital Bank, stated that active roles and participations from
Contingency Plan. the Management up to the Board of Commissioners are
required. Therefore, the procedures for the Contingency
In connection with liquidity risk, stress testing can be Funding Plan must be approved by the Board of
used to assess the adequacy of liquidity and liquid Directors and notified to the Board of Commissioners. In
assets reserves held, and the prevention and mitigation this procedure, 15 Early Warning Signal Indicators have
measures listed in the Contingency Funding Plan. The been established, including internal, macro and market
Bank looks at its ability to survive the next one month liquidity indicators that are determined and assumed
(30 days) from any increased cash outflows, particularly to be the early signals of a crisis. These indicators have
from deposits, and any decreased cash inflows, under thresholds that cannot be breached. If there is any
stress conditions without external liquidity assistance, breach of an indicator threshold, then the Funding Crisis
by liquidating liquid assets such as placements with Declaration Assessment (FCDA) Team will assess whether
Bank Indonesia (FASBI)/SBI/Time Deposits), government the situation could lead to a crisis or not. However, the
bonds and corporate bonds in pursuant to BI Regulation FCDA Team may conduct discussions even though at the
No.19/03/DPNP/2017 and PADG No. 10/06/PADG/2017 time there are no indicators breached. These indicators
concerning the Provision of Short-term Liquidity Loan are monitored daily by the Risk Management Unit and
Facility (PLJP). reported to management. In the event of any breach of
an indicator, then information that is deemed to lead to
In addition to integrated stress testing, the Bank also a crisis condition can be used as a reason for conducting
conducts reverse stress testing once a year to generate discussions on the assessment of liquidity conditions.
a scenario illustration that could cause the Bank to fail The results of these assessments will be sent as a
to meet the Bank soundness ratios required by the recommendation to be validated by the ALCO Chairman.
regulator. This is in line with POJK No. 14/POJK.03/2017
concerning Recovery Plans for Systemic Banks. The Bank If their conclusion leads to tighter liquidity conditions,
also carries out sensitivity analysis on an ad-hoc basis as then corrective measures need to be taken through
needed, where the coverage depends on the particular special ALCO meetings. If the existing liquidity conditions
portfolio which at that time is deemed quite vulnerable continue to deteriorate, the existing liquidity status can
or is estimated to be affected from changes in one or be updated and liquidity management will be carried out
more related risk factors. by the FCMT (Funding Crisis Management Team) which
consists of all Directors and additional decision makers.
CONTINGENCY FUNDING PLAN & RECOVERY PLAN
When the Bank enters a liquidity crisis, operational Both ALCO and FCMT are chaired by the President
guidelines are needed to manage the crisis, thus it is Director, in order to ensure decision-making is quick and
expected that with this particular handling, the crisis can precise in accordance with the required scope.
be managed well, and thereby restore public confidence
in the Bank. This is regulated in the procedure for a In tight liquidity conditions, the FCMT is given the
Contingency Funding Plan. In addition, if conditions authority to take corrective measures, either from the
continue to deteriorate that they may impact the Bank’s operational, business or communication to improve
solvency, the Bank will activate its Recovery Plan which existing conditions. The Bank has conducted a several
contains more robust steps to re-energize the Bank. trial crisis simulations following guidelines contained in

the Contingency Funding Plan, where a crisis simulation (4) aspects that must be monitored. In these aspects,
is handled by the FCMT, and the FCMT decisions are there are monitoring indicators to be continuously used
adopted to overcome the crisis by the relevant work as triggers for activating the corrective measures that
units. have been included in the RPD.
This CFP Testing is carried out regularly in order to create EFFECTS OF CHANGES IN INTEREST RATE
alertness and readiness from management and related ON BANK PERFORMANCE
units in taking strategic and real steps in response to Throughout 2020, Bank Indonesia lowered its BI 7-Day
abnormal conditions that may affect liquidity or other Reverse Repo Rate (BI7DRR) five times. Towards the
operational factors. In all of the tests conducted, in end of the year, Bank Indonesia decided to maintain
addition to scenarios that require quick decisions, other the BI7DRR at 3.75%, interest rate on Deposit Facility
scenarios seek to evaluate different communications in at 3.00% and interest rate on Lending Facility at 4.50%.
conveying decisions of the crisis meeting, whereupon Bank Indonesia considered this decision to be consistent
decisions can be conveyed through online communication with the expected rate of inflation that would remain low
(such as by telephone) and not having had to meet face- and other external conditions that remained stable, as
to-face, but still acting within the prescribed rules. well as the efforts to revive the economy. In the view of
the macro economy, a low interest rate would generate
Throughout 2020, the Bank had experienced constraining optimism towards national economic recovery, through
conditions in its operations, especially for Management the opening of economic sectors that are productive
in providing strategic directions to staffs due to the and safe from COVID-19, and paving the way for an
difficulty of arranging face-to-face meetings, accordingly, accelerated fiscal stimulus.
strategic meetings had to be held online. Eventually,
ALCO, RMC and other management meetings along This also impacted the banking sector, through lowering
with decision making were conducted online, and could bank interest rates for retail credit; consumer including
be communicated and quickly implemented under the home mortgage. Amid the COVID-19 pandemic, a low
related unit. This was an example of the benefits that interest rate was aimed to revive the property sector as
the Bank had been able to derive from its routine testing well as other sectors especially automotive; motorcycles
in previous years. In 2020, the Bank did not undertake and cars. Lower bank interest rate of retail credit and
Stress Testing, considering that the Bank’s existing mortgage could encourage public to invest or apply for
conditions already represented responses of operational bank credit.
disruptions previously in the simulated as test-case
scenarios. At CIMB Niaga, the impact of changes in the interest
rate on Bank performance was aimed to induce higher
In addition, CIMB Niaga also has a more extensive credit absorption, which in turn would stimulate
Recovery Plan Document (RPD) covering Liquidity, the economy further, enabling the Bank to perform
Capital, Profitability, and Asset Quality as approved better and ultimately increase the value of the Bank.
by Management and Shareholders as required by Responding to the BI’s benchmark interest rate cut, CIMB
regulators at the end of 2017. In this RPD, the measures Niaga selectively adjusted its deposit and lending rates.
and processes are conducted more broadly than the However, this adjustment is accompanied by efforts to
Contingency Funding Plan, considering the aspects to maintain the Bank’s profitability target.
be maintained are not only limited to Liquidity. As with
other documents, this RPD will also be reviewed annually Overall, interest rate cut was aimed to help to accelerate
for updates and to consistently be in line with existing the digitalization of finance and the economy. Lower
conditions. The review covers the steps to be taken by interest rates, especially on loans, and improving public
CIMB Niaga to improve the conditions related to the four

consumption is meant to increase demand for both CIMB Niaga constantly maintains that these two ratios
consumer and corporate credit in 2021. On the other are above the specified by the regulator, and in fact,
hand, an extension of the credit restructuring program establishes higher internal ratios. As of end of December
by OJK would also push the demand for loans in line with 2020, the Bank’s LCR was 235.17%, whereas the NSFR
improving sales and corporate liquidity. was 119.04%.
ABILITY TO PAY DEBTS These two ratios increased significantly from those of
CIMB Niaga has adequate liquidity and solvency as the previous year. This was due to the impact from the
indicated in CIMB Niaga’s ability to fulfill all responsibilities growth of deposits while on the other hand the growth of
on a timely basis both for the payment of principal credit was largely stagnant. As a result of which, the Bank
debt and interest expense. The liquidity, solvency and allocated its liquidity excess to Government Bonds that
profitability ratios are the parameters used to ascertain represent a component of Liquid Instruments.
the Bank’s ability to pay obligations (debt). These ratios
are also parameters to calculate the Bank’s liquidity To monitor the liquidity adequacy on a daily basis under
reserves. normal conditions, CIMB Niaga uses internal parameters
that have been socialized and submitted to OJK, namely
ABILITY TO PAY SHORT-TERM DEBTS Liquidity Gap based on the dominant currency. This
(LIQUIDITY RATIO) Liquidity Gap has limits that are set by ALCO and are
For liquidity risk monitoring, CIMB Niaga uses daily monitored by the Liquidity Risk Unit. However,
international parameters, as implemented by OJK namely throughout 2020, the monitoring of LCR is undertaken
Liquidity Coverage Ratio (LCR) and Net Stable Funding daily and divided based on local currency and foreign
Ratio (NSFR). These two ratios are regularly monitored currency as requested by OJK.
and reported to the Management and Regulator. LCR
is a parameter that compares High Quality Liquid Asset Ratios that exceed the pre- set internal limits of the above
(HQLA) or Liquid Instruments to Net Cash Inflow over the liquidity risk parameter, are considered as an escalation
next 30 days. This ratio illustrates the Bank’s adequacy event that must be reported to the level of Senior
in meeting outflows, after calculating an assumption for Management/Directors with the optional steps that
outward ratios set by regulator, after deducting inflows need to be taken by the business unit and related unit to
with certain discounts within 30 days with the managed address the issue. This is set forth in the document that
Liquidity Tool (HQLA).The Bank is required to maintain a has been formalized and approved by ALCO/the Board of
minimum limit of 100% for this LCR, which means that Directors and Board of Commissioners.
the Liquid Instrument of the Bank are able to cover the
net outflow within a period of 30 days onward. ABILITY TO PAY LONG TERM DEBT
(SOLVENCY RATIO)
The NSFR is a parameter that measures the balance The capital ratio is one of the parameters used to evaluate
between Assets and Liabilities (including Capital), which the solvency ratio. CIMB Niaga continuously ensures that
is measured by a certain ratio that is based on the time its capital is able to meet the regulatory requirement of
frames and characteristics of each component of Assets Capital Adequacy Ratio (CAR) that comprises credit risk,
and Liabilities. The limit that has to be met is 100%, which market risk and operating risk. On a consolidated basis,
means that there is a balance between source of funds the CIMB Niaga CAR was 21.92% in 2020, increasing
and funds outflows. slightly from 21.47% in 2019. CIMB Niaga still has greater
capital reserves than the minimum CAR required by the
As a result of the easing policy brought on by COVID-19 in regulator, at 10.90%. In accordance with OJK policy No.
2020, the Regulator has reduced the limit that has to be
met. However, the Bank still maintain the 100% limit with
consideration to its prudential principle.

11/POJK.03/2020 the government provides relaxation where the obligation to fulfill the capital conservation buffer is
temporary eliminated until March 31, 2021. The minimum CAR ratio required by the regulator is 10.90% from the
previous 13.40%.
ABILITY TO PAY DEBT ON ISSUED SECURITIES

The ability to pay debts is also reflected in the ratings of securities issued by CIMB Niaga, namely Bonds and Sukuk.
Issued securities are routinely evaluated by rating agencies to ascertain the viability of these securities. The quality of
securities is largely determined by the ability of the securities issuer to pay its securities when the fall due and their
ability to pay interest or coupons during t6he period of the securities are issued. The issued securities are also rated
by the rating agencies, in this case by Pefindo. Pefindo’s AAA rating signifies a superior capacity for long-term financial
commitments over other obligors, whereas a Pefindo’s AA rating signifies a strong capacity for long-term financial
commitments over other obligors.
The following lists the ratings of CIMB Niaga Bonds and Sukuk in 2020:
Securities Name Issuance Date Maturity Date Ratings

Shelf Registration Bond II Bank CIMB Niaga Phase I Year 2016 Series C 3-Nov-16 3-Nov-21 AAA (PEFINDO)
Shelf Registration Bond II Bank CIMB Niaga Phase II Year 2017 Series C 23-Aug-17 23-Aug-22 AAA (PEFINDO)
Shelf Registration Bond II Bank CIMB Niaga Phase III Year 2017 Series C 2-Nov-17 2-Nov-22 AAA (PEFINDO)
Shelf Registration Bond II Bank CIMB Niaga Phase IV Year 2018 Series B 20-Sep-18 20-Sep-21 AAA (PEFINDO)
Shelf Registration Bond II Bank CIMB Niaga Phase IV Year 2018 Series C 20-Sep-18 20-Sep-23 AAA (PEFINDO)
Subordinated Bond III Bank CIMB Niaga 2018 Series A 15-Nov-18 15-Nov-23 AA (PEFINDO)
Subordinated Bond III Bank CIMB Niaga 2018 Series B 15-Nov-18 15-Nov-25 AA (PEFINDO)
Shelf Registration Sukuk Mudharabah I Bank CIMB Niaga Phase I Year 2018 Series B 15-Nov-18 15-Nov-21 AAA(sy) (PEFINDO)
Shelf Registration Subordinated Bond I Bank CIMB Niaga Phase I Year 2019 19-Dec-19 19-Dec-24 AA (PEFINDO)
Shelf Registration Bond III Bank CIMB Niaga Phase I Year 2019 Series B 19-Dec-19 19-Dec-22 AAA (PEFINDO)
Shelf Registration Bond III Bank CIMB Niaga Phase I Year 2019 Series C 19-Dec-19 19-Dec-24 AAA (PEFINDO)
Shelf Registration Sukuk Mudharabah I Bank CIMB Niaga Phase II Year 2019 Series B 21-Aug-19 21-Aug-22 AAA(sy) (PEFINDO)
Shelf Registration Sukuk Mudharabah I Bank CIMB Niaga Phase II Year 2019 Series C 21-Aug-19 21-Aug-24 AAA(sy) (PEFINDO)
Shelf Registration Sukuk Mudharabah I Bank CIMB Niaga Phase III Year 2020 Series A 27-Mar-20 7-Apr-21 AAA(sy) (PEFINDO)
Shelf Registration Sukuk Mudharabah I Bank CIMB Niaga Phase III Year 2020 Series B 27-Mar-20 27-Mar-23 AAA(sy) (PEFINDO)
Shelf Registration Sukuk Mudharabah I Bank CIMB Niaga Phase III Year 2020 Series C 27-Mar-20 27-Mar-25 AAA(sy) (PEFINDO)
PROFITABILITY AND EFFICIENCY RATIO

Financial ratios used by the Bank to measure profitability and performance efficiency include Return on Assets (ROA),
Return on Equity (ROE), Net Interest Margin (NIM), and the ratio of Operating Expense to Operating Income (BOPO).
In 2020, the Bank’s profitability ratios namely Return on Assets (ROA) and Return on Equity (ROE-Tier-1) were 1.06% and
5.33%, respectively, compared to 1.86% and 9.03% in 2019. Meanwhile, Net Interest Margin (NIM) was 4.88% in 2020
compared to 5.31% in 2019. Whereas the BOPO ratio of CIMB Niaga was 89.38% in 2020 compared to 82.44% in 2019.

COMPLIANCE RATIO
In order to achieve and maintain the stability of Rupiah exchange rate, Bank Indonesia implements a series of policies
including monetary, macro-prudential, and also payment system and management of Rupiah currency. These policies
are reviewed continuously in response to dynamics of the global and domestic economies. The series of policies include
an oversight of several compliance ratios comprising of Minimum Statutory Reserves, Legal Lending Limit and Net Open
Position.
CIMB Niaga has consistently been able to meet the Legal Lending Limit Ratio that is mandated by the regulator such that
the Bank fully complies with the Legal Lending Limit requirement as well as those of the Minimum Statutory Reserve
and Net Open Position as shown in the following table:
in percentage (%)
Description 2020 2019 2018

Minimum Statutory Reserve in Rupiah 3.16 6.10 6.70
Minimum Statutory Reserve in Foreign Currencies 4.05 8.08 8.14
Macroprudential Liquidity Buffer 25.98 10.78 6.09
Macroprudential Intermediation Ratio 82.93 92.14 98.39
Net Open Position (NOP) 1.77 3.63 1.20
LOANS COLLECTABILITY AND ANALYSIS OF EARNING ASSETS QUALITY

Amid the COVID-19 pandemic, CIMB Niaga remains committed to maintaining the quality of the Bank’s earning assets.
CIMB Niaga classifies the collectability of the loans provided to customers on the basis of number of days past due. The
analysis of asset quality and the loans collectability of the Bank for the period 2018-2020, are as follows:
in million Rupiah
Growth (%)
Loans based on Collectability 2020 2019 2018
2020-2019 2019-2018
Pass 157,660,408 179,449,586 175,425,428 (12.14) 2.29
Special Mention 10,880,768 9,453,403 7,277,684 15.10 29.90
Sub-standard 638,552 287,520 813,957 122.09 (64.68)
Doubtful 269,385 832,577 493,572 (67.64) 68.68
Loss 5,305,480 4,214,445 4,456,896 25.89 (5.44)
Total 174,754,593 194,237,531 188,467,537 (10.03) 3.06
In 2020, the gross total CIMB Niaga’s loans classified into sub-standard, doubtful and loss loans amounted to Rp6.2
trillion, compared to Rp5.3 trillion in 2019. As of 31 December 2020, the gross NPL ratio stood at 3.62%, with the NPL-net
ratio at 1.40%, compared to 2.79% and 1.30%, respectively in 2019.
CIMB Niaga continues to control its credit risk so that its loans collectability can be maintained accordingly, through the
gradual improvement of asset quality, improving portfolio diversification towards a healthier sectors growth, improving
infrastructure and business processes, enhancing human resource capabilities in the lending area, and improving
policies and procedures
Total restructured loans in 2020 amounted to Rp30.7 trillion, an increase of Rp29.0 trillion from Rp1.7 trillion in 2019.

in million Rupiah
Restructured Loans 2020 2019 2018

Working Capital 11,975,939 555,959 983,520
Investment 9,915,936 1,014,503 828,934
Consumption 8,816,667 114,340 131,659
Total 30,708,542 1,684,802 1,944,113
PROVISION OF FUNDS, COMMITMENTS AND OTHER FACILITIES

With reference to the Bank’s internal policy regarding funding activities to related parties (individuals or groups, including
executive officers, the Board of Directors and Commissioners of the Bank), commitments and other facilities have been
carried out fairly on reasonable terms with the approval of the Board of Commissioners.
SIGNIFICANT PROHIBITION, LIMITATION AND CONSTRAINT TO CONDUCT FUND TRANSFER BETWEEN THE
BANK AND OTHER ENTITIES IN THE BUSINESS GROUP
Throughout 2020, CIMB Niaga did not record any significant restrictions, limitations and constraint in the transfer of
funds between the Bank and other entities within the CIMB Group.
SIGNIFICANT AGREEMENTS
CIMB Niaga has entered into agreements with other 4. Agreement related with credit cards and ATM
parties in conducting the Bank’s business activities. The named VISA International Service Association
followings are the significant agreements with third Program Security Agreement of Letter of Credit
parties: dated 9 October 2001 with Visa International Service
1. Agreement for Transferring of Subscription of Association (VISA);
ATM Bersama Network dated 7 January 2002 with 5. License Agreement Master Card Membership with
PT Artajasa Pembayaran Elektronis (Artajasa); Mastercard International Incorporated dated 9 July
2. Agreement with PT Bursa Berjangka Jakarta (BBJ) 1996;
dated 14 December 2000. This agreement is for the 6. Master Service Agreement with PT Silverlake
pooling of funds from brokers and members of BBJ or Informatikatama on 15 November 1996 with the
other valid funds as approved by Commodity Futures latest amendment on 18 November 2009 for the
Trading Regulatory Authority (Badan Pengawas purpose of software licensing on various applications;
Perdagangan Berjangka Komoditi or Bappebti); 7. Agreement with Silverlake Axis MSC Sdn Bhd
3. Agreement for Developing and Implementing for transition of Core Banking System (1P) on 19
Internet Banking Service dated 1 November 2006 September 2014;
with PT Pacific Communications Network (Pacomnet) 8. On 7 April 2008, CIMB Niaga entered into an office
with the purpose of providing application for internet space lease agreement with PT Niaga Manajemen
banking services. With the same party (Pacomnet), on Citra for the building located at Griya Niaga 2
2 July 2002, there was an agreement to provide SMS Building, Jl. Wahid Hasyim Blok B.4 No.3, Bintaro
Mobile Banking with developing banking services Jaya Sector VII Tangerang, for 29 (twenty nine) years.
through mobile GSM; Rental fees for this rent amounted to Rp181 billion

which paid in 11 (eleven) payment terms. The first 10. On 30 December 2014, CIMB Niaga entered into lease
term amounted to Rp5.7 billion already paid on 27 agreement with PT Star Pacific Tbk for the building
March 2007, while the latest payment paid in January which located at CIMB Niaga Tower, Jl. Boulevard
2009. On 30 October 1997, CIMB Niaga entered Diponegoro No. 101, Kelapa Dua Sub District, Curug
into an office space lease agreement with PT Niaga District, Tangerang until 28 February 2020. Rental
Manajemen Citra for the building which located at fees paid for this rent is ranging between Rp80,000/
Griya Niaga 1 Building, Jl. Wahid Hasyim Blok B.4 m2 up to Rp220,000/m2 (full amount), which is to be
No. 3, Bintaro Jaya Sector VII Tangerang for 15 (fifteen) paid every 3 (three) months and paid upfront. CIMB
years until 29 October 2012, and had been extended Niaga and PT Star Pacific also agreed that the rental
until 31 December 2017. Future rental commitments fees will not change during the rental period;
under the above lease agreement amounted to 11. In March 2016, CIMB Niaga entered into an agreement
Rp478 million per month. On 15 January 2018, CIMB for bancassurance with PT Sunlife Financial Indonesia
Niaga has signed the extension of lease agreement to sell Sun Life’s insurance products through the
with PT Niaga Manajemen Citra with lease term CIMB Niaga distribution channel. This agreement is
until 31 December 2022. Rental payment in 2018 valid until 12 April 2033;
amounted to Rp115,541 (in full amount) per m2 per 12. In December 2016, CIMB Niaga entered into a
month, while rental payment for 2019 until 2022 is bancassurance agreement with PT CIMB Niaga
amounted to Rp121,300 (in full amount) per m2 per Auto Finance, PT Sompo Insurance Indonesia and
month; Sompo Japan Nipponkoa Insurance Inc. to sell
9. On 1 December 2016, CIMB Niaga entered into an Sompo’s insurance products through the CIMB Niaga
agreement with PT Infomedia Nusantara whereby distribution channel. This agreement is valid until 31
PT Infomedia Nusantara agreed to conduct call center December 2035;
service or information service center for CIMB Niaga 13. In June 2011, CIMB Niaga signed a bancassurance
customers regarding CIMB Niaga service information. agreement with PT AIA Financial to sell AIA’s insurance
This agreement has been amended several times, products through the CIMB Niaga distribution
the latest renewal of this agreement was signed on 1 channel. The agreement is valid until 15 December
September 2018 and will be valid until 30 November 2024.
2021 for Gajah Mada and Yogyakarta;
CAPITAL STRUCTURE OF THE BANK
CAPITAL STRUCTURE
CIMB Niaga is fully committed to managing a strong and sound capital structure, such that it is able to provide maximum
support to sustainable business growth. As at year-end 2020, the proportion of the Bank’s liabilities and equity to fund
its assets were 85.39% and 14.61%, respectively.

Based on OJK Regulation No.11/POJK.03/2016 on the Requirement for Minimum Capital Adequacy of a Commercial
Bank that has been effective since 2 February 2016 that has been amended with OJK Regulation No. 34/POJK.03/2016,
in which capital is comprised of:
• Core Capital (Tier-1) that comprises the main core capital and additional core capital
• Complement Capital (Tier-2).
Components of CIMB Niaga’s capital is still dominated by core capital (Tier-1). Tier-1 capital plays a vital role in the
composition of CIMB Niaga’s capital, contributing up to 95% of the Bank’s total capital with a Tier-1 Capital Adequacy
Ratio 20.80% in 2020.
The following table presents the reported calculation of the minimum capital adequacy requirement for the years 2020,
2019, and 2018.
in million Rupiah
Calculation of Capital Adequacy Ratio 2020 2019 2018

Core Capital (Tier-I) 38,950,511 42,085,044 38,269,217
Supplementary Capital (Tier-II) 2,090,670 2,637,703 2,619,243
Total Capital 41,041,181 44,722,747 40,888,460
Risk Weighted Assets
RWA for credit risk 153,499,438 176,346,822 178,264,803
RWA for market risk 3,535,359 2,989,368 1,942,505
RWA for operational risk 30,209,487 29,011,195 27,753,110
Total RWA 187,244,284 208,347,385 207,960,418
CAR for credit and operational risks 22.34% 21.78% 19.85%
CAR for credit, market and operational risks 21.92% 21.47% 19.66%
Tier-1 CAR 20.80% 20.20% 18.40%
Tier-2 CAR 1.12% 1.27% 1.26%
In addition to core capital, CIMB Niaga obtained subordinated borrowing facilities that can be accounted as supplementary
capital. The subordinated borrowings comprise subordinated bonds issued by CIMB Niaga and have received the approval
of BI/OJK to account for these subordinated bonds as supplementary capital in the calculation of Capital Adequacy Ratio. The
supplementary capital of CIMB Niaga amounted to Rp2.1 trillion, contributing 5.09% of the Bank’s total capital.

The following is a list of these Subordinated Bonds that have been issued by CIMB Niaga and have not matured as of year-
end 2020.
Interest
Nominal
Instrument Effective Statement Approval Tenor Maturity Date Rate/
(Rp Billion)
Annum
CIMB Niaga Subordinated OJK Capital Market OJK Banking Supervisory 75 5 years 15 November 9.85%
Bonds Ill Supervisory in in Letter No. S-89/ 2023
Year 2018 Series A with a fixed Letter PB.33/2018 dated 26 July
interest rate No.S-158/D.04/2018 2018
dated 8 November
2018
CIMB Niaga Subordinated OJK Capital Market OJK Banking Supervisory 75 7 years 15 November 10.00%
Bonds Ill Supervisory in in Letter No. S-89/ 2025
Year 2018 Series B Letter PB.33/2018 dated 26 July
with fixed interest rate No.S-158/D.04/2018 2018
dated 8 November
2018
Shelf Registration Subordinated OJK Capital Market OJK Banking Supervisory 83 5 years 19 December 8.05%
Bond I Bank CIMB Niaga Phase Supervisory in in Letter No. 21/769/ 2024
I Year 2019 Letter DSSK/Srt/B dated 7
No.S-194/D.04/2019 November 2019
dated 12 December
2019
In addition to the above subordinated bonds, the strategy the level of capital. The result of the self-assessed risk
of CIMB Niaga to increase capital adequacy in 2020 was to profile of CIMB Niaga in 2020 was Low to Moderate (2).
increase the assets quality and low-cost funding sources. Pursuant to OJK Regulation No. 34/POJK.03/2016 and
OJK Circular Letter No.26/SEOJK.03/2016, the CAR that is
Description related to capital structure is presented in required by considering the risk profile rating of Low to
more detail in the section of Risk Management – Capital Moderate (2) and the Basel 3 Capital Buffer in 2020 was
Structure in this Annual Report. 13.40%. With CIMB Niaga’s CAR in 2020, 2019 and 2018 of
21.92%, 21.47% and 19.66%, respectively, the Bank was
MANAGEMENT POLICY ON CAPITAL able to accumulate capital reserves that are well above
STRUCTURE the minimum CAR requirement by the regulator.
The Management policy on capital structure can be seen
in the Bank’s CAR (Capital Adequacy Ratio) as one of the BASIS FOR THE DETERMINATION OF
indicators of capital adequacy of the Bank. CAR reflects MANAGEMENT POLICY ON CAPITAL
the ability to support the Bank organic growth and act STRUCTURE
as a reserve against the possibility of loss for the Bank. The Management of the Bank has drawn up the basis
The higher the CAR, the more solid is the Bank’s ability to for the determination of policy on capital structure with
support business growth and to face risks. several considerations, namely economic projections,
potential for business growth, risk appetite, result of
CIMB Niaga constantly strives to maintain adequate stress testing and capital ratio targets. With this capital
capital well above the minimum level of CAR required planning, CIMB Niaga will have the resilience to go
by the regulator. In 2020, CIMB Niaga posted a CAR of through the economic cycles, capitalizing on growth
21.92%, up from 21.47% in 2019. This increase was and strategic opportunities, maximizing rate of returns
propelled by the decrease in Risk Weighted Assets (RWA) for shareholders, while operating its business within the
by 10.13% from previous year. risk appetite corridor and in compliance with prevailing
laws and regulations. The Bank’s capital requirements
On a consolidation base, CIMB Niaga develops the are planned, discussed and monitored regularly up
Internal Capital Adequacy Assessment Process (ICAAP) to to the level of the Board of Directors and Board of
ascertain capital adequacy that is in line with the risk profile Commissioners supported by data analyses.
of the Bank and to determine the strategy in maintaining

INVESTMENT PROPERTY
CIMB Niaga does not own property assets that are used for investment purposes as of the period ended
31 December 2020.
MATERIAL COMMITMENTS FOR CAPITAL GOODS

INVESTMENTS
As at the end of 2020, CIMB Niaga has no material investment commitments related to capital expenditure.
CAPITAL EXPENDITURE INVESTMENTS

REALIZED IN THE LAST FISCAL YEAR
TYPES AND VALUE OF CAPITAL EXPENDITURE
CIMB Niaga invests in capital goods in the form of fixed assets for land, buildings, equipment, machinery, office
furniture, motor vehicles, as well as intangible assets in the form of system/software and infrastructure development.
CIMB Niaga’s capital expenditure in the past 3 years as follows:
in million Rupiah
Types of Capital Goods 2020 2019 2018

Equipment, machinery, office furniture, assets in progress 847,514 928,452 886,049
Systems and infrastructure development 97,955 74 44,167
Land and Buildings including renovation and installations 6,228 26,373 25,730
Motor vehicles - - 1,124
Total 951,697 954,899 957,070
In 2020, capital expenditures realized amounted to of a new data center at an acquisition value to support
Rp951.7 billion, or slightly decreased by 0.34% or Rp3.2 the Banks’ business in keeping its technology abreast of
billion compared to 2019, primarily due to lower capital current development.
expenditures on Equipment, Machinery, Office Furniture
as well as Assets in Progress by Rp80.9 billion, in line with OBJECTIVES OF CAPITAL EXPENDITURES
completion of investment in those categories. Capital INVESTMENTS
expenditures for land and building also declined by Rp20.1 CIMB Niaga investment in capital expenditure is designed
billion as we reduce the number of physical branch. to meet the Bank’s need for fixed assets, adding the book
While capital expenditure in systems and infrastructure value of these assets, which are expected to provide
development increased by Rp97.9 billion, of which due to future benefits and value with the aim of supporting the
the implementation of PSAK 71 in 2020, and the addition Bank’s operations as well as its continuing growth.

CIMB Niaga will also continue to emphasize the MATERIAL INFORMATION AND FACTS
development of Branchless Banking and Digital Banking OCCURING AFTER THE ACCOUNTANT’S
services in an effort to expand its network reach to REPORT DATE
customers, and will continue to innovate its products CIMB Niaga’s consolidated financial statements as of 31
and delivery channels in line with demand and up to date December 2020 have been audited by the Public Accounting
market developments. Firm of Tanudiredja, Wibisana, Rintis and Partners. Audited
financial statements signed by Drs. Irhoan Tanudiredja, CPA
In financing its capital expenditures, CIMB Niaga relies on on 17 February 2021. CIMB Niaga stated on 29 January 2021,
the proceeds from its business, and prioritizes purchases PT CIMB Niaga Auto Finance (Subsidiary) has bought back
of capital goods in the Indonesian Rupiah. Management its outstanding shares from PT Niaga Manajemen Citra.
believes that the volatility of foreign exchange rates have The repurchased shares amounted to 9,221 (full amount)
no significant impact on the Bank’s commitments to shares or the equivalent of 0.07% ownership percentage
future capital expenditures. of the total issued and fully paid shares of CNAF with a
total transaction value of Rp1.1 billion. The transaction
has received approval from OJK through Letter No. S-15/
NB.11/2021 dated 29 January 2021.
COMPARISON OF TARGET WITH REALIZATION IN 2020
COMPARISON BETWEEN TARGET AND REALIZATION

CIMB Niaga set a number of targets that it wanted to achieve in financial year 2020. The comparison between these
targets and their realization in 2020 is as follows:
Description Target 2020 Realization 2020

Operational and Financial
Net Interest Margin (NIM) 5.2%-5.4% 4.88%
Fee Income Ratio (FIR) 23%-26% 23.77%
Cost to income ratio (CIR) 47%-49% 48.95%
Return on Assets (ROA) 2.0%-2.8% 1.06%
Return on Equity (shareholder funds) 11%-12% 5.01%
Loan Growth 6%-8% -10.03%
Asset Quality (NPL) 2.75% - 3.00% 3.62%
LLC 115%-140% 194.33%
LDR 95%-98% 82.91%
Customer Deposit Growth 5%-8% 6.10%
CASA ratio 56%-58% 59.62%
CAR 18%-19% 21.92%

Description Target 2020 Realization 2020

Marketing
Spontaneous Brand Awareness 48% 50%
Human Resources (number of headcount)
Learning on the Go (LoG) Mandatory Program Completion 12,264 12,250
Risk Management Certification & Refreshment 1,391 1,391
3D (Data, Digital, Design) Training 1,550 2,083
The performance results of CIMB Niaga were as follows: Beyond the above-mentioned indicators, overall CIMB Niaga
1. Net Interest Margin (NIM) was 4.88%. achieved encouraging results in 2020. This was marked by the
2. Fee Income Ratio (FIR) was 23.77% and still within the growth in total assets, increase in non-interest income, and
target. the decline of all operating expenses of the Bank compared
3. Cost to Income Ratio (CIR) was 48.95% and still within to those of the previous year. Decreasing operating costs
the target. were noted in promotion cost (which declined 25.36%),
4. ROA was 1.06% and ROE was 5.01% both below personnel cost (7.63%), and general and administrative
the target, which were due to the Bank’s declining expense (2.73%), signifying the Bank’s ability to manage
profitability as a result of the COVID-19 pandemic. operating costs. Meanwhile, CIMB NIaga’s profit before tax
5. Loan growth was minus 10.03%, below the expected amounted to Rp2.9 trillion compared to Rp5.0 trillion in 2019.
target. The less than optimal loan growth was due to
the Bank’s strategy of not pursuing loans aggressively, As the second largest private bank and leading digital
acting prudently to maintain good loan quality amid banking, CIMB Niaga always implements the best strategy
the COVID-19 condition. to build brand awareness. In the midst of challenging
6. The NPL ratio of 3.62% was higher than the target. economic conditions, CIMB Niaga succeeded in obtaining
7. LLC increased and significantly surpassed the target a 50% percentage of Spontaneous Brand Awareness
to reach 194.33%. The high LLC ratio reflected in 2020, compared with the target, this result exceeds
adequate provisioning on the Bank’s earning assets the pre-set 2020 target of 48%. Spontaneous Brand
that had declined in value. Awareness is shown by the percentage of consumers who
8. LDR was 82.91%, below the target. This was due to recognize the CIMB Niaga brand without any assistance
increasing of customer deposit as specially CASA in or spontaneously in an industry or certain category.
line with the Bank’s focus in low cost funding and
decreasing of credit growth in line with prudent credit CIMB Niaga will continue to focus on initiatives that
policy implemented to maintain credit quality in the aim to improve the quality of human resources and
midst COVID-19 pandemic. capabilities of each individual, from leaders to frontliners
9. The growth of customer deposits was 6.10%, who deal directly with customers. For this reason, CIMB
achieving the target. CIMB Niaga continues to grow Niaga is committed to implementing training targets
customer deposits amid tight inter-bank competition for employees, including monitoring the completion of
by introducing customer deposit products that can mandatory training programs through the Learning on
meet customer needs, with quick and convenient the Go (LoG) platform, Risk Management Certification
transactions via branchless banking, and various and Refreshment, as well as Data, Digital, Design (3D)
other forms of promotions. training. In 2020, the three trainings have succeeded in
10. CASA ratio exceeded the target, reaching 59.62% in achieving the targets set.
2020, which was higher than that of the previous year.
11. CAR also increased and surpassed the target to
21.92%, reflecting the CIMB NIaga sound and solid
capitalization.

PROJECTIONS FOR 2021

Entering the year 2021, CIMB Niaga has set a number of targets as follows:
Description Target 2021

Operational and Financial Projections
Net Interest Margin (NIM) 4.7%-5.2%
Fee Income Ratio (FIR) 23%-26%
Cost to Income Ratio (CIR) 47%-49%
ROA 1.0%-1.3%
ROE (shareholder funds) 7%-8%
Loan Growth 3%-5%
Asset Quality (NPL) 3.80% - 4.25%
LLC 140%-170%
LDR 80%-85%
Customer Deposit Growth 3%-5%
CASA Ratio 59%-63%
CAR 19%-22%
ASSUMPTIONS USED IN THE PROJECTIONS FOR ACCELERATION OF FEE BASED INCOME

2021 GROWTH IN 2021
In anticipation of bigger challenges to economic growth CIMB Niaga recorded fee based income in 2020
in 2021, loans will continue to be undertaken selectively amounting to Rp3.9 trillion. The fee based income
as has been decided to be the main focus of loans growth came from other fees, provisions and commissions of
during the year. CIMB Niaga will undertake several Rp1.7 trillion, followed by income from increasing in
initiatives and programs through direct promotion or marketable securities, government bonds and foreign
product bundling, and enhancement of the customer exchange transactions amounted to Rp1.8 trillion and
experience that is expected to increase low-cost The other income of Rp0.4 trillion.
Bank also has human resources development plan which
further explained at the Human Resources report in this In 2021, CIMB Niaga will strive to increase the fee based
Annual Report. income growth by focus on the implementation of 5
pillar strategy which includes 1) playing to our strengths,
2) expanding CASA franchise, 3) discipline in cost
management, 4) preservation of capital and balanced risk
culture, and 5) leverage information technology.
DIVIDEND DISTRIBUTION POLICY
DIVIDEND POLICY General Meeting of Shareholders decision. To ensure

CIMB Niaga implements its dividends policy based Good Corporate Governance principles are followed
on Law No. 40 year 2007 regarding Limited Liability in the dividend distribution, CIMB Niaga established
Companies where dividends are distributed based on Dividend Policy No. M.03 which regulates:

1. The dividend distribution plan to be reviewed by the DIVIDEND DISTRIBUTION

Board of Directors or Committee equivalent to the Based on the 2019 Annual General Meeting of
Board of Directors at least once a year. Shareholders on 14 April 2020, it was decided that the
2. Dividend distribution proposal to be submitted at Bank’s net profit for the financial year 2019 amounting to
the meeting of Board of Directors or Committee Rp1,392.2 billion will be distributed as dividends with the
equivalent to the Board of Directors (Executive following schedule:
Committee/ExCo). 1. Cum Dividend in Regular and Negotiation Market
3. The Bank is allowed to distribute a certain percentage dated 20 April 2020
of the current year’s net income as dividends 2. Ex-Dividend in Regular and Negotiation Market on 21
after taking into account of the Bank’s financial April 2020
performance, the Bank’s Capital Adequacy Ratio (CAR) 3. Cum Dividend in cash market dated 22 April 2020
after the distribution of dividend, other investment 4. Recording date for entitled shareholders on 22 April
projects, the Bank’s soundness level, and other 2020
considerations. 5. Ex-Dividend in cash market on 23 April 2020
4. The plan for dividends distribution to be included in 6. Dividend Payment for financial year 2019 on 8 May
the Bank Business Plan and submitted to OJK 2020
5. The dividend distribution proposal approved by
Management to be sent to the Annual General Whereas in the AGM of 2018 held on 15 April 2019, it
Meeting of Shareholders (AGM) for approval. was decided that a portion of the Bank’s net profit for
6. After the AGM approves the cash dividend financial year 2018 amounting to Rp696.5 billion would
distribution, the Bank pays the cash dividend to the be distributed as dividend.
entitled shareholders no later than 30 (thirty) days
after the AGM decision. Total net profit of CIMB Niaga for the year 2019 and 2018,
after deducting dividend payment to shareholders used
to finance the business operations of the CIMB Niaga.
CIMB Niaga dividend distribution for the year of 2019, 2018 and 2017 were as follows:
Dividend Payout Announcement Payment

Fiscal Year Net Profit Dividend
Per Share Ratio Date Date
2019 Rp3.6 trillion Rp1,392.2 billion Rp55.39 40.00% 14 April 2020 8 May 2020
2018 Rp3.5 trillion Rp696.5 billion Rp27.93 20.00% 15 April 2019 15 May 2019
2017 Rp3.0 trillion Rp595.4 billion Rp23.89 20.00% 24 April 2018 24 May 2018
EMPLOYEE AND/OR MANAGEMENT EQUITY

OWNERSHIP PLAN (EOP/MESOP)
EQUITY OWNERSHIP PLAN (EOP)
The Equity Ownership Plan (EOP) was introduced in March 2011, where CIMB Group will grant ordinary shares of CIMB
Group to selected employees of CIMB Niaga Senior Vice President (SVP), Executive Vice President (EVP) and Board
of Directors with a re-charge to Bank CIMB Niaga. Under the EOP, earmarked portions of variable remuneration of
selected employees of Bank CIMB Niaga will be utilized to purchase ordinary shares of CIMB Group from the market.
The purchased shares will be released progressively to eligible employees at various dates after the purchase date,
subject to continued employment of the individuals with CIMB Niaga.

A related company will act on behalf of CIMB Group to administer the EOP and to hold the shares in trust up to the pre-
determined transfer date. The eligibility of participation in the EOP shall be at the discretion of the Group Compensation
Review Committee of CIMB Group. In the case of termination of employment other than retirement, disability or death,
the employee will not receive the unreleased shares.
Below is the detail of EOP granted by CIMB Group:
Amount paid by
CIMB Niaga to the Average price
Total Shares
EOP Granted Date entity established per share (full Effective Date Percentage Vesting Period
(full amount)
by CIMB Group amount) RM
(Rp million)
1 January 2016 900 62,900 4.33 1 January 2016 40.00% 6 January 2017
30.00% 6 January 2018
30.00% 6 January 2019
25 March 2016 22,575 1,587,881 4.17 1 April 2016 33.33% 31 March 2017
33.33% 31 March 2018
33.33% 31 December 2018
1 July 2016 1,000 70,300 4.26 1 July 2016 40.00% 1 June 2017
30.00% 1 June 2018
30.00% 1 June 2019
25 March 2017 29,813 1,824,198 5.28 1 April 2017 33.33% 31 March 2018
33.33% 31 March 2019
33.33% 31 December 2019
27 April 2018 33,607 1,330,832 7.07 24 May 2018 33.33% 31 March 2019
33.33% 31 March 2020
33.33% 31 December 2020
11 March dan 31,080 1,745,362 5.19 11 March 2019 and 33.33% 31 March 2020
15 April 2019 15 April 2019
33.33% 31 March 2021
33.33% 31 December 2021
11 March 2020 30,733 2,402,049 3.52 11 March 2020 and 33.33% 31 March 2021
and 9 April 2020 9 April 2020
33.33% 31 March 2022
33.33% 31 December 2022
Below is the movement of entitlements shares granted (full amount):
Description 2020 2019 2018

Beginning balance 2,520,149 2,460,508 2,973,235
Granted 2,402,049 1,745,362 1,330,832
Exercised* (1,724,766) (1,685,721) (1,843,559)
Ending Balance 3,197,432 2,520,149 2,460,508
*Vested/Resignation

SHARE-BASED COMPENSATION RESERVE of options will vest on 25 April 2020. Every share options
The share-based compensation reserve is used to corridor has different strike prices.
recognize the grant date fair value options issued to
employees but not exercised and the grant date fair There are no dividends paid to share option holders
value of shares granted to employees. before the option is exercised. All of the share options
granted will expire on 25 October 2020. However, for
Management Employee Stock Option Program (MESOP) all treasury shares that have been purchased and not
is a one-time program to reward performance and loyalty exercised as at expiry of the share options granted,the
of management and selected employees. The amount transfer will be adjusted to the prevailing laws and
implemented is 208,216,392 shares (full amount) which regulations.
were approved at the Extraordinary General Meeting
of Shareholders on 24 August 2017. This program was The share-based compensation reserve is also used to
launched on 26 February 2018. recognize the shares given to employees, but not exercised
in relation with Material Risk Taker (MRT) program in
The amount of shares allocated to each employee is accordance with POJK No. 45/POJK.03/2015 dated 23
determined by considering the compensation received, December 2015 regarding Implementation of Governance
current positions at CIMB Niaga, and performance of in Providing Remuneration for Commercial Bank.
the past 2 years. The total amount of shares allocated to
MESOP is 208.2 million shares – in which 12 million shares MRT is a remuneration policy in attracting, motivating,
will be allocated for the share grants and 196.2 million and retaining the best employees in order to provide
shares for the share options. The first 40% of the share qualified human resources. The remuneration policy of
options are vested on 26 February 2018 (with condition CIMB Niaga includes and applies to employees both in
of lock-up period up to 25 October 2018), another 30% the business, operational and support functions.
of options are vested on 25 April 2019, and the last 30%
REALIZATION OF PROCEEDS
FROM PUBLIC OFFERING
CIMB Niaga conducted Public Offerings that are summarized in the following table:
Instrument Nominal (billion) Nisbah/Coupon Issuance Date Maturity Date

Nisbah by 14.50% from revenue
Rp322.0 (Series A) sharing with indication of profit sharing 27 March 2020 7 April 2021
equivalent of 5.80% per annum
Shelf Registration Sukuk Nisbah by 17.50% from revenue
Mudharabah I Bank CIMB Niaga Rp287.0 (Series B) sharing with indication of profit sharing 27 March 2020 27 March 2023
Phase III Year 2020 equivalent of 7.00% per annum
Nisbah by 18.13% from revenue
Rp391.0 (Series C) sharing with indication of profit sharing 27 March 2020 27 March 2025
equivalent of 7.25% per annum
The proceeds from the issuance of Shelf Registration Sukuk Mudharabah I Bank CIMB Niaga Phase III Year 2020, after
deduction of emission expenses, will be utilized entirely to support activities in sharia financing.

Report on the use of public offering proceeds realization has been submitted to OJK through letter No. 058/DIR/VII/2020
dated 17 July 2020 as follows:
Public Realization Value Use of

Funds Remaining
Proceeds
Type of Public Effective Public Public Usage Plan Proceeds
Period Net According to
Offering date Offering Offering According to from Public
Results Prospectus
Results Cost Prospectus Offering
Realization
Shelf
Registration
Sukuk
Mudharabah Rp1,000.0 Rp996.7 Rp996.7 Rp996.7
27-Mar-20 Jun 20 Rp3.3 billion Rp0
I Bank CIMB billion billion billion billion
Niaga
Phase III Year
2020
OTHER IMPORTANT TRANSACTIONS

IN SIGNIFICANT AMOUNTS
There were no other significant transactions conducted by CIMB Niaga throughout 2020 other than those already
explained in this Management Discussion and Analysis.
IMPORTANT CHANGES IN THE BANK AND BANK BUSINESS

GROUPS DURING THE YEAR
There were no significant changes at CIMB Niaga and CIMB Niaga business group as of the period ended 31 December
2020 that have an impact on CIMB Niaga financial position.
FINANCIAL INFORMATION RELATED TO EXTRAORDINARY

AND RARE EVENTS
There was no financial information regarding extraordinary and rare event in 2020.

PROVISION OF FUNDS, COMMITMENTS

AND OTHER FACILITIES
With reference to the Bank’s internal policy regarding funding activities to related parties (individuals or groups, including
executive officers, the Board of Directors and Commissioners of the Bank), commitments and other facilities have been
carried out fairly on reasonable terms with the approval of the Board of Commissioners regarding transactions for the
provision of funds, commitments and other facilities are described in the Material Transaction of Conflicting Interest
and Transaction with Affiliated/Related Parties..
SIGNIFICANT PROHIBITION, LIMITATION AND CONSTRAINT

TO CONDUCT FUND TRANSFERS BETWEEN THE BANK AND
OTHER ENTITIES IN THE BUSINESS GROUP
Throughout 2020, CIMB Niaga did not record any significant restrictions, limitations and constraint in the transfer of
funds between the Bank and other entities within the CIMB Group.
MATERIAL TRANSACTION OF CONFLICT OF INTEREST AND

TRANSACTIONS WITH AFFILIATED/RELATED PARTIES
MATERIAL TRANSACTION OF a. The entity and the reporting entity are members
CONFLICTING INTEREST of the same company (which means that
Throughout 2020, CIMB Niaga did not engage in any each parent, subsidiary, and subsidiary of the
material transaction that contained a conflict of interest. subsidiary are all related to one another);
b. One entity is an associate or joint venture of the
TRANSACTION WITH AFFILIATED/RELATED other entity (or an associate or joint venture of a
PARTIES member of a company of which the other entity is
CIMB Niaga undertook transactions with related parties a member);
by referring to PSAK No.7 (revision 2015) on “Disclosure c. Both entities are joint ventures of the same third
of Related Parties,” those that are classified as related party;
parties are persons or entities that are related to the d. One entity is a joint venture of a third entity and
reporting party, as follows: the other entity is an associate of the third entity;
1. A person or a close family member of the person, if e. The entity is a post-employment benefit plan for
he or she: the benefit of employees of either the reporting
a. Is In control or in joint control over the reporting entity or an entity related to the reporting entity;
party; f. The entity is controlled or jointly controlled by a
b. Has significant influence over the reporting entity; or person identified in (1) above;
c. Key management personnel of the reporting
entity or the parent of the reporting entity.
2. An entity is related to a reporting entity if any of the
following conditions applies:

g. A person identified in (1a) has significant REASONS BEHIND TRANSACTION WITH

influence over the entity or is a member of the RELATED PARTIES
key management personnel of the entity (or of a Transactions with related parties are carried out mainly
parent of the entity; or for the benefit and continuity of CIMB Niaga’s business
h. The entity, or any member of a group of which that are related to the lending and borrowing of funds in
it is a part, provides key management personnel the context of normal business activities.
services to the reporting entity or to the parent of
the reporting entity. AMOUNT OF TRANSACTIONS WITH RELATED
PARTIES
In a lending transaction with an affiliated or related party, In 2020, the total value of transactions with related
CIMB Niaga also adheres to the OJK Regulation No. 38/ parties on the assets side amounted to Rp365.4 billion
POJK.03/2019 on the Maximum Credit Disbursement and on the liabilities side totaled Rp616.9 billion. The
Limit and the Allocation of Large Funds for the details of outstanding balances on these transactions
Commercial Bank and on the internal rules of CIMB Niaga with companies that are associated with CIMB Niaga are
that includes among others the Commercial Credit Policy as follows:
and Consumer Credit Policy and must obtain the approval
of the Board of Commissioners before disbursement.
in million Rupiah
Value of Transactions with Related Parties 2020 2019 2018

ASSETS
• CIMB Bank Berhad 28,878 36,799 31,646
• CIMB Bank Plc 1,406 1,389 1,439
• CIMB Thai Bank Public Company Limited 1,365 1,958 1,975
Loans
• Board of Directors 95,392 83,548 124,231
• Executive Bank Officers 57,008 49,009 61,249
• PT CGS-CIMB Sekuritas Indonesia 69,000 100,000 111,000
Prepaid Expense
• PT Niaga Manajemen Citra 112,345 118,586 124,828
Total Assets associated with Related Parties 365,394 391,289 456,368
Percentage to Total Assets 0.13% 0.14% 0.17%
LIABILITIES
Customer Deposits
• Demand Deposits
- Board of Commissioners, Board of Directors and Executive Bank Officers 2,352 - -
- Board of Directors 228 14 5
- PT Commerce Kapital 60,511 47,811 68,013
- CIMB Group Sdn Bhd 23,347 13,897 7,100
- Southeast Asia Special Asset Vehicle Limited (N21) 15,806 - -
- CGS-CIMB Futures Indonesia 12,340 - -
- PT CGS-CIMB Sekuritas Indonesia 11,060 8,861 5,213
- PT Principal Asset Management 5,088 2,581 1,457
- CIMB Investment Bank Berhad 4,428 - -
- Dana Pensiun Bank CIMB Niaga 1,044 1,402 1,438
- CIMB Securities Limited 892 - -
- PT Niaga Manajemen Citra 552 450 20
- PT Cap Asia Indonesia 269 - -

Value of Transactions with Related Parties 2020 2019 2018

- PT CGS Konsultan Management 242 - -
- CIMB Private Equity SDN BHD 221 - -
- Bumiputra Commerce Holdings Berhad 6 - -
- PT Synergy Dharma Nayaga (N38) 1 - -
- PT Modern Internasional TBK (Quarted Shares) 1 - -
- CGS-CIMB Securities (Singapore) Pte Ltd - 109 -
- CIMB Group Holdings Berhad - 7 7
• Savings
- Board of Commissioners 11,669 3,169 1,914
- Board of Directors 39,995 18,535 11,252
- Executive Bank Officers 113,382 56,487 52,852
- Dana Pensiun Bank CIMB Niaga 772 85 3
- PT Niaga Manajemen Citra - 974 -
• Time Deposits
- Board of Commissioners 1,006 709 4,182
- Board of Directors 3,220 22,199 21,357
- Executive Bank Officers 24,940 39,700 49,408
- CGS-CIMB Futures Indonesia 15,000 - -
- PT Principal Asset Management 13,300 6,500 8,000
- PT CGS-CIMB Sekuritas Indonesia 95 83,490 1,121
- Dana Pensiun Bank CIMB Niaga - - 3,435
- PT Niaga Manajemen Citra - 46,982 -
Deposits from Other Banks (Demand Deposits)
• CIMB Bank Berhad 118,252 78,996 40,949
• CIMB Bank BHD Singapore, Private Banking-Trust Account 38,063 - -
• CIMB Islamic Bank Berhad 7,580 4,309 10,597
• CIMB Bank (L) Limited 4,428 - 36,299
• CIMB Thai Bank Public Company Limited 1,231 - -
Derivative Payables
• CIMB Bank Berhad 15,373 2,618 7,539
Borrowings
• CIMB Bank Berhad - - 191,722
Subordinated Bonds
• CIMB Bank Berhad 70,177 68,567 69,444
Total Liabilities Attributed to Related Parties 616,871 415,992 593,327
Percentage to Total Liabilities 0.26% 0.18% 0.26%
FAIRNESS, MECHANISM OF REVIEWS, AND COMPLIANCE TO REGULATION ON TRANSACTION

WITH AFFILIATED PARTIES
Transactions with affiliated/related parties are undertaken under similar terms and conditions as those undertaken
with third parties. The transactions carried out by CIMB Niaga have complied with the Capital Market and Financial
Institution Supervisory Board No. IX.E.1 on “Affiliated Transactions and Certain Transactions with Conflicts of Interest,”
at the time these transactions were carried out. In the course if normal business, CIMB Niaga undertakes transactions
with related parties due to ownership and/or management relations. All of the transactions with related parties are
carried out under the terms and conditions that have been mutually agreed upon.

In detail, information of the related parties with which CIMB Niaga has had a transaction, and the nature of said
transaction, on 31 December 2020 is presented in the table below:
Related Parties Nature of Relations Nature of Transactions

CIMB Group Holdings Berhad Parent of majority shareholder Customer deposits
CIMB Group Sdn Bhd Majority shareholder Customer deposits
CIMB Islamic Bank Berhad Controlled by the same ultimate shareholder Deposit from other banks
CIMB Bank Berhad Controlled by the same ultimate shareholder Demand deposits with other banks, deposits
from other banks, derivative payables,
borrowings
CIMB Thai Bank Public Company Limited Controlled by the same ultimate shareholder Demand deposits with other banks and
deposits from other banks
CIMB Bank Plc Controlled by the same ultimate shareholder Demand deposits with other banks
CGS-CIMB Securities (Singapore) Pte Ltd Controlled by joint venture which owned by Customer deposits
the ultimate shareholders
CIMB Bank (L) Limited Controlled by the same ultimate shareholder Deposits from other banks
CIMB Bank BHD Singapore, Private Banking- Controlled by the same ultimate shareholder Deposits from other banks
Trust Account
PT CGS-CIMB Sekuritas Indonesia Controlled by joint venture which owned by Loans and customer deposits
PT Principal Asset Management Controlled by the same ultimate shareholder Customer deposits
PT Niaga Manajemen Citra Controlled by CIMB Niaga’s executive officers Prepaid expenses and Customer deposits
PT Commerce Kapital Controlled by the same ultimate shareholder Customer deposits
Dana Pensiun Bank CIMB Niaga Controlled by CIMB Niaga’s executive officers Customer deposits
Southeast Asia Special Asset Vehicle Limited Controlled by the same ultimate shareholder Customer deposits
(N21)
CGS-CIMB Futures Indonesia Controlled by joint venture which owned by Customer deposits
CIMB Securities Limited Controlled by the same ultimate shareholder Customer deposits
PT Cap Asia Indonesia Controlled by the same ultimate shareholder Customer deposits
PT CGS Konsultan Management Controlled by joint venture which owned by Customer deposits
CIMB Private Equity SDN BHD Controlled by the same ultimate shareholder Customer deposits
PT Synergy Dharma Nayaga (N38) Controlled by the same ultimate shareholder Customer deposits
PT Modern Internasional TBK (Quarted Controlled by the same ultimate shareholder Customer deposits
Shares)
CIMB Investment Bank Berhad Controlled by the same ultimate shareholder Customer Deposits
Bumiputra Commerce Holdings Berhad Majority shareholder customer deposits
Board of Commissioners, Board of Directors Management of CIMB Niaga Loans and Executive Bank Officers
and Executive Bank Officers

INFORMATION ON TRANSACTIONS RELATED TO

INVESTMENT, EXPANSION, DIVESTMENT, ACQUISITION
AND RESTRUCTURING
INVESTMENT EXPANSION
In mid 2017, CIMB Group Holdings Berhad (“CIMBGH”) CIMB Niaga did not undertake any expansion activity in
announced that a wholly-owned subsidiary of CIMBGH 2020, such that no information as relates to the objective,
had signed a share purchase agreement with China transaction value and source of fund for expansion
Galaxy International Financial Holdings Limited activities is presented in this Annual Report.
(“CGIFHL”). CIMBGH and CGIFHL subsequently entered
into a strategic partnership, forming the securities DIVESTMENT
brokerage business unit of CIMBGH. CIMB Niaga did not undertake any divestment activity in
2020, such that no information as relates to the objective,
Based on this agreement, the Investment Banking transaction value and source of fund for divestment
business unit of CIMBGH was, region-wise, outside of the activities is presented in this Annual Report.
scope of this strategic partnership. As a result of which,
CIMBGH internally reorganized all of its Investment ACQUISITION
Banking business units, including those in Indonesia. In CIMB Niaga did not undertake any acquisition activity in
Indonesia, the Investment Banking business unit was 2020, such that no information as relates to the objective,
placed under a new entity, PT CIMB Niaga Sekuritas transaction value and source of fund for acquisition
(CNS), which was legally established in 2018, and in which activities is presented in this Annual Report.
CIMB Niaga held 99.00% ownership shares. CNS received
a license from OJK to undertake operational activities on DEBT AND CAPITAL RESTRUCTURING
11 March 2019. In 2019, the Bank increased its equity CIMB Niaga did not undertake any debt or capital
participation in CNS from 990 shares to 5,990 shares with restructuring in 2020, such that no information as relates
a nominal value of Rp299,500 million. On 31 December to the objective, transaction value and source of fund for
2020, the ownership of CIMB Niaga in CNS is 94.78%. restructuring is presented in this Annual Report.

CHANGES IN ACCOUNTING POLICIES
REASONS FOR CHANGES IN ACCOUNTING POLICIES

Changes in accounting policies and disclosure are made to comply with applicable SFAS. CIMB Niaga has adopted the
following accounting standards on 1 January 2020 which are considered relevant.
CHANGES IN ACCOUNTING POLICIES AND ITS IMPACT

The Board of Financial Accounting Standards of the Indonesian Institute of Accountants (“DSAK-IAI”) has revised a
number of accounting standards effective on 1 January 2020, including changes in accounting policies that have no
impact and that have an impact which have been implemented by CIMB Niaga in 2020, as follows:
Impact on CIMB Niaga and

No Accounting Standards Adoption of IFRS/IAS Summary of changes
Subsidiaries
1 Amendments to SFAS 1 IAS 1 “Presentation of • Information is material if obscuring disclosure of the This SFAS has no impact on the
“Presentation of Financial Financial Statements” information is “reasonably expected to influence” financial statements of the Bank
Statements” decisions made by users of general purpose financial and Subsidiaries as of 1 January
statements. 2020.
• Adding obscure terms in the definition of material, and
adding descriptions and examples of situations where This SFAS is effective on January
material information is obscured. 1, 2020.
Information is obscured if it is communicated in a way

that would have the same effect on primary users of
financial statements by omitting or misrepresenting the
information.
2 Amendments of SFAS Amendement IAS Regulates that the entity also applies SFAS 71 to financial Only have an impact on the
15: ”Long term Interest 28:”Investments in instruments in associates or joint ventures where the presentation and disclosure of
in Associates and Joint Associates and Joint equity method is not applied. financial statements.
Ventures” Ventures : Long Term
Interests in Associates and This includes the long-term interests that form a This SFAS is effective in the
Joint Ventures” substantial part of the entity’s net investment in financial year period beginning on
associates or joint ventures as referred to in SFAS 15 or after January 1, 2020.
paragraph 38. Early implementation is permitted.
3 Amendments of SFAS IAS 8 “Accounting Policies, • Repeal paragraphs 5 and 6 of the previous version Only have an impact on the
25: “Accounting Policies, Changes in Accounting which regulate material omissions and their effect on presentation and disclosure of
Changes in Accounting Estimates and Errors about the user’s economic decisions. financial statements.
Estimates and Errors about Definition of Material”.
Definition of Material” Replaces paragraphs 5 and 6 by including the description This SFAS is effective on January
“defined in SFAS 1 paragraph 7”. 1, 2020.
4 IFAS 35: “Presentation - • The translation term for the word “Not-for-Profit” is CIMB Niaga has no transactions
of Non – Profit Oriented changed to “Non-profit”. related to this new accounting
Entities Financial • As an interpretation of PSAK 1 “Presentation of policy and therefore has no
Statements” Financial Statements” paragraph 5 which provides an quantitative impact for the Bank
example of how a non-profit oriented entity makes and Subsidiaries in the current
adjustments. year.
• Describe the Presentation of Non-profit-Oriented
Entity Financial Statements. This SFAS is effective on January
1, 2020


Subsidiaries
5 Amendment of SFAS 62: Amendments to IFRS Give attention to entities related in insurance about the CIMB Niaga has no transactions
“Insurance Contract – 4 Insurance Contracts: relationship between the effective date of SFAS 71 and related to this new accounting
Applying SFAS 71: Financial Applying IFRS 9 Financial the new standard that will later replace SFAS 62. policy and therefore has no
Investments”. Instruments with IFRS 4 quantitative impact for the Bank
Insurance Contracts This Amendment provides 2 (two) approaches that are and Subsidiaries in the current
optional for insurance entities, namely: year.
a. Deferral approach: a temporary exemption from
the implementation of SFAS 71 for entities whose This SFAS is effective on January
main activity is the issuance of insurance contracts 1, 2020
as the scope of SFAS 62 (which is applied at the level
of the reporting entity). To determine the temporary Early implementation is permitted.
exemption from the adoption of SFAS 71, an entity
is required to conduct an assessment whether the
entity meets the qualifications for the temporary
exemption from the adoption of SFAS 71 in the
financial statements immediately before 30 June
2019. Deferrral approach in the Amendments to SFAS
62 is possible but does not require the guideline to
apply SFAS 55 rather than SFAS 71 for the financial
year period beginning before IFRS 17 is effective or
adopted, whichever comes first; and
b. Overlay approach: allows the entity to reclassify
certain income or expenses arising from financial
assets that are determined from profit or loss to other
comprehensive income. The instructor can choose to
apply the overlay approach described in paragraph
35B only when first applying SFAS 71.
6 SFAS 71: “Financial IFRS 9: “Financial Clarify regarding: This SFAS has an impact on the
Instruments” Instruments” financial statements of the Bank
a. Classification & Measurement and Subsidiaries as of 1 January
• The classification and measurement of 2020.
financial instruments based on the contractual
characteristics of cash flows and the business In accordance with the transition
model of the entity. requirements in SFAS 71, Bank
• If the financial asset is a simple debt instrument CIMB Niaga and Subsidiaries
and the objective of the entity’s business model is elected to apply retrospectively
to obtain contractual cash flows, the financial asset with the cumulative effect of initial
is measured at amortized cost. implementation recognized at
• If a financial asset is held for the purpose of the 1 January 2020 and not restate
business model to obtain contractual cash flows comparative information. Bank
and to be traded, the financial asset is measured CIMB Niaga and Subsidiaries
at fair value and presented in the statement has adjusted the beginning 2020
of financial position, while the amortized cost retained earnings amounting to
information is presented in the statement of Rp5,469,574 (gross before tax)
income (fair value through other comprehensive which come from the increase of
income - FVOCI). allowance for losses for financial
• If the business model of a financial asset is not instrument (refer to note 65 in
the two models, then fair value information is Consolidated Financial Statement).
very important, therefore fair value information is
disclosed in the statement of financial position and This SFAS is effective on January
income statement (fair value through profit or loss - 1, 2020
FVTPL).
Early implementation is permitted.
b. Impairment
• The expected credit loss impairment model that
looks more forward in measuring the impairment
loss of financial instruments.
• Require that at each reporting date the entity
assesses whether credit risk on financial
instruments has increased significantly since initial
recognition using reasonable and supportable
information.
c. Hedging Accounting
• Eliminates 80-125% effectiveness test
requirements. and introducing more general
requirements based on management
considerations.


Subsidiaries
7 Amendments of SFAS 71: Amendement IFRS 9 • Adding examples of contractual terms that result This SFAS has impact on the
“Financial Instruments: Financial Instruments: in contractual cash flows that are solely payments financial statements of the Bank
Prepayment Features with Prepayment Features with of principal and interest on the principal amount and Subsidiaries as of 1 January
Negative Compensation”. Negative Compensation”. outstanding, namely: 2020.
Contractual terms that permit the issuer (i.e. the The Bank has conducted an
debtor) to prepay the debt instrument or allow assessment of the impact of the
the instrument holder (i.e. the creditor) to resell implementation of this SFAS as of
the debt instrument to the issuer prior to maturity 1 January 2020.
and the prepayment amount substantially reflects
the principal and interest unpaid on the principal This SFAS is effective on January
amount outstanding, which may include reasonable 1, 2020.
compensation for early termination of the contract
(PP4.1.11 (b)). Early implementation is permitted.
• Adding information that an early settlement of

financial assets remains eligible for measurement
at amortized cost or fair value through other
comprehensive income if:
An early settlement amount substantially reflects

the contractual par amount and the contractual
interest payable (but not yet paid), which may include
reasonable compensation for early termination of the
contract (PP4.1.12. (B)).
8 Amendments of SFAS 71, Amendments to IFRS 9, IAS • The hedging relationship is directly affected by The assessment is carried
SFAS 55, and SFAS 60: 39 and IFRS 17: “Interest reference interest rate reforms only if the reform out on hedging transactions
“Interest Rate Benchmark Rate Benchmark Reform”. creates uncertainty about:: that occur in connection with
Reform”. a. Reference interest rates (determined contractually the implementation of the
or non-contractually) are designated as hedging amendment.
risk; and or
b. The timing or amount of cash flows based on This amendment is effective as of
the interest rate reference of the hedged item or January 1, 2020, except regarding
hedging instrument. early implementation options.
• Reform of the benchmark interest rate refers to the
reform of the benchmark interest rate in the market
at large, including the replacement of the reference
interest rate with an alternative reference rate, such
as the results of the recommendation in the Financial
Stability Board report for July 2014 entitled “Reforming
Major Interest Rate Benchmarks”.
• In determining the likelihood that a forecast
transaction is likely to occur for a cash flow hedge, the
entity assumes that the benchmark interest rate on
which the hedge cash flow is based (contractually or
non-contractually) is not changed as a result of reform
of the benchmark interest rate.
• The entity continues to apply all hedge accounting
requirements to hedge relationships that are directly
affected by the benchmark interest rate reform.
• In assessing the economic relationship between the
hedged item and the hedged instrument, an entity
assumes that the interest rate reference on which the
hedged cash flows are based and/or the hedge risk
(contractually or non-contractually), or the interest rate
reference on which the hedging instrument is based.
value, not changed as a result of the benchmark
interest rate reform.
9 SFAS 72: “Revenue from IFRS 15: “Revenue from Clarify regarding: CIMB Niaga has conducted an
Contracts with Customers” Contracts with Customers” • Recognition of revenue at a certain time at the assessment of the impact of the
same time when the customer has fulfilled the implementation of this SFAS as
implementation obligation to pay for certain services/ of 1 January 2020 and has no
activities, which indicates that the customer has: significant quantitative impact.
a. fulfill all abilities to use these assets directly and
b. obtain substantially all the benefits of performance This SFAS is effective on January
obligations and no further performance obligations. 1, 2020
• Recognition of income over time if the customer
simultaneously receives and consumes the benefits Early implementation is permitted.
provided from the Bank’s implementation as long
as the Bank carries out its performance obligations
(during performance obligation occur).


Subsidiaries
10 SFAS 73: ”Leases” IFRS 16: “Leases” Clarify regarding: This SFAS has an impact on the
• Tenants are required to recognize right of use assets financial statements of the Bank
and lease liabilities, except: and Subsidiaries as of 1 January
a. Short term rent 2020.
b. Rents whose underlying assets are low value
• Tenants measure right of use assets in a manner In Applying SFAS 73 for the first
similar to other nonfinancial assets (such as fixed time, Bank CIMB Niaga and
assets) and lease liabilities in a manner similar to other Subsidiaries used this practical
financial liabilities. expedient permitted by the
• The lessee recognizes the depreciation of the lease standard in the which use of a
and interest assets on the lease liability and also single discount rate to a portfolio
classifies cash payments for the lease liabilities as a of leases with reasonably similar
principal and interest and presents them in the cash characteristics and did not make
flow statement by using SFAS 2: Cash Flow Reports. transition adjustment for leases
• The rental criteria included in the scope of PSAK 73 with low value underlying assets
are: and short-term leases.
a. Having identified assets
b. The right to obtain economic benefits from the use This SFAS is effective on January
of use rights assets 1, 2020
c. The right to control and control the use of assets Early implementation is permitted.
(leased objects)
11 Amendments of SFAS 73: Amendments to IFRS 16 • Tenants can choose not to assess whether the The Bank has conducted an
“COVID-19 related Rent Leases: “COVID-19 related covid-19-related lease concessions constitute a lease assessment of lease contracts
Concessions”. Rent Concessions”. modification. that fall within the scope of SFAS
• The lessee who makes the choice will record any 73 which meet the criteria for
changes in lease payments as a result of the covid-19 lease concessions in accordance
related lease in the same way the lessee recorded the with the Amendment to SFAS
change by applying PSAK 73 if the change is not a lease 73: “Leases regarding Lease
modification. Concessions related to COVID-19”
• The requirements for compliance with the practical
means of COVID-19 related Lease Concessions These amendments are applied
apply only to lease concessions arising as a direct by lessees for annual reporting
consequence of the COVID-19 pandemic and only if all periods beginning on or after 1
of the following conditions are met: June 2020.
a. A change in lease payments results in a revised
consideration for the lease that is substantially Early adoption is permitted,
the same as or less than the rental consideration including for financial statements
immediately prior to the change; that have not been authorized for
b. Any deduction of lease payments only affects issuance by 30 May 2020.
payments that are originally due on or before 30
June 2021; and
c. There are no substantive changes to other terms
and conditions of the lease
12 IFAS 101: “Recognition - • The entity must review the substance of the The bank conducts sales-
of Deferred Murabahah murabahah transaction as sales or sales-based based murabahah financing
Income Without Significant financing. transactions.
Inventory Ownership • The criteria for sales and sales-based financing are
Risks”. determined by the dominant type of risk associated This SFAS is effective on or after
with holding inventory risk, namely selling risk or January 1, 2020.
financial risk.
a. If the seller is exposed to a significant risk of
inventory ownership, the risk that arises is the
risk of selling, so the murabahah transaction is
substantially a sale.
b. If the seller is not exposed to a significant risk
of inventory ownership, the risk that arises is
financial risk so that the murabahah transaction is
substantially sales-based financing.
• An entity must make professional judgment to
determine the type, presence, and significance of the
risks associated with holding inventories in tough
murabaha transactions without significant financing
elements.


Subsidiaries
13 SFAS 102 (revised 2019): - • Murabahah income is recognized when the seller The accounting treatment for
“Murabahah Accounting” transfers control of the inventory to the buyer, murabahah financing transactions
or during the contract period. The condition for currently carried out by the Bank
recognizing murabahah income when the transfer of is to recognize income on the
control over inventory is murabahah which is carried deferred murabahah margin
out in cash or deffered without significant financing during the contract period
elements. (amortization of the deferred
murabahah margin is carried out
Meanwhile, the recognition of murabahah income during during the contract period).
the contract period is applied to tough murabahah with a
significant element of financing. This SFAS is effective on or after
January 1, 2020.
• Deffered murabahah income without a significant
element of financing is recognized when the control of
inventory is transferred. The seller needs to examine
the significance of the financing element of deffered
murabahah.
14 IFAS 102: “Impairment of - • As a bridging standard to fill the gap in the impairment The Bank did not change the
Murabahah Receivables” arrangement due to SFAS 71 (which applies in 2020) is current accounting policy for
not applied to impairment of assets originating from impairment of murabahah
sharia-based transactions, until the enactment of a receivables.
separate SFAS related to impairment of assets - assets
originating from sharia-based transactions. This SFAS is effective on or after
January 1, 2020.
• Requires the entity to continue implementing
the current accounting policy for the impairment
of murabahah receivables until the issuance of
a separate SFAS related to impairment of assets
originating from sharia-based transactions.
• Entities are prohibited from changing the accounting

policy for impairment of murabahah receivables,
including being prohibited from applying the
methodology for impairment as stipulated in SFAS 71
which uses expected loss.
The changes in SFAS and ISFAS mentioned above do not have a significant impact on the amounts reported in the
consolidated financial statements for the current period or the previous year period except as described in the table
above.
Changes in accounting policies have been adopted for information submitted outside the financial statements and
checks have been made on the financial statements.

APPLICATION OF FOREIGN ACCOUNT TAX

COMPLIANCE ACT (FATCA) & COMMON REPORTING
STANDARD (CRS)
FATCA is a regulation issued by the Department of Treasury and the Internal Revenue Service (“IRS”) of the United States
to prevent tax evasion by US citizens or companies (“US persons”) through funds or businesses held outside the United
States. Meanwhile, the Common Reporting Standard (CRS) is a standard of automatic financial information exchange
for tax purposes including commentaries prepared by the Organization for Economic Cooperation and Development
(OECD) together with G20 (Group of Twenty) member countries.
The Indonesian government has also ratified the International Automatic Exchange of Information (AEOI) agreement
with the issuance of Law No. 9 of 2017 concerning Issuance of Substitute Government Regulation in Lieu of Law No. 1
of 2017 on Access to Financial Information for Taxation Purposes.
Therefore, CIMB Niaga has committed to take part in compliance with the FATCA & CRS provisions. Currently, CIMB
Niaga has registered FATCA membership at the IRS as a financial institution that will implement FATCA provisions.
Fulfillment of compliance with CRS has been realized through the reporting CRS data as of 1 August 2018 to the Financial
Services Authority (OJK) through the SIPINA Application.
The Bank, as a financial institution, is required to report tax

information from foreigners
A 30% Withholding Tax Penalty

is charged on funds transferred to PROCEDURES FOR
outside the US by non-compliant financial
institutions PARTICIPATING COMPANIES
1 2
Registered as a participating Prepare additional procedures
foreign financial institution to identify customers or
potential customers
3 4
Prepare additional procedures Report to OJK on a regular
for customers to fill out basis
declaration forms

DERIVATIVES AND SPOT TRANSACTIONS
In 2020, CIMB Niaga posted activities that involve spot transactions and those of derivatives and hedging facilities, as
follows:
in million Rupiah
Growth (%)
Derivatives Receivables and Liabilities 2020 2019 2018
2020-2019 2019-2018
Derivative Receivable (fair value) 1,359,286 725,478 1,084,759 87.36 (33.12)
Unrelated to Hedging 1,359,286 725,478 1,084,759 87.36 (33.12)
Derivatives Liabilities (fair value) 738,351 474,915 684,269 55.47 (30.60)
Unrelated to Hedging 599,523 377,931 648,933 58.63 (41.76)
Hedging Instruments in Fair Value Hedges Related 138,828 96,984 35,336 43.15 174.46

The derivatives receivables CIMB Niaga are mostly derived from interest rate swap transactions (60.49%) and options
contracts on foreign currencies (18.51%). In 2020, the increase in the amount of derivatives receivables mainly came
from the increase in interest rate swap transactions from Rp508.9 billion in 2019 to Rp822.3 billion in 2020.
in million Rupiah
Growth (%)
Derivatives Receivables 2020 2019 2018
2020-2019 2019-2018
Interest Rate Swap 822,297 508,948 797,731 61.57 (36.20)
Foreign Currency Options Contract 251,546 123,825 171,219 103.15 (27.68)
Foreign Currency Spot Contract 167,486 874 3,436 191x (74.56)
Foreign Currency Futures Contract 61,671 22,205 45,999 177.73 (51.73)
Foreign Currency Swap 56,148 62,572 66,374 (10.27) (5.73)
Interest Rate Futures Contract 138 7,054 - (98.04) na
Total 1,359,286 725,478 1,084,759 87.36 (33.12)
Derivatives liabilities were mainly attributed from the foreign currency options contract (41.97%). In 2020, the increase
in derivatives liabilities mainly resulted from an of transactions on foreign currency options contracts to Rp309.9 billion,
from Rp180.0 billion in 2019.
in million Rupiah
Growth (%)
Derivatives Liabilities 2020 2019 2018
2020-2019 2019-2018
Foreign Currency Options Contract 309,898 179,968 166,436 72.20 8.13
Interest Rate Swap 253,054 201,215 419,395 25.76 (52.02)
Foreign Currency Swap 89,488 52,946 83,664 69.02 (36.72)
Foreign Currency Futures Contract 58,909 39,455 11,546 49.31 241.72
Interest Rate Futures Contract 25,213 833 - 29x na
Foreign Currency Spot Contract 1,789 498 3,228 259.24 (84.57)
Total 738,351 474,915 684,269 55.47 (30.60)
The hedging facility entered into by CIMB Niaga was on the interest rate swap contracts.

CHANGES IN LAWS AND REGULATIONS WITH

SIGNIFICANT EFFECTS AND THEIR IMPACT ON
FINANCIAL REPORTS
Significant Change to the Previous Regulation or the Main Points of the Impact on CIMBN and Subsidiary
No. Laws and Regulations Reason for Change
New Regulation Entities
1. • PBI No. 21/16/PBI/2019 1. Bank must ensure that employees related to SPPUR has hold 1. Developing and ensuring employee 1. Bank has received approval from
• PADG No. 22/3/PADG/2020 certificate. competencies; BI as a LPK CIMB NIAGA and
2. Bank must ensure the employees holding SPPUR Certificate must 2. Improving employee integrity; affirmation from DISNAKER;
STANDARDIZATION OF conduct refreshment courses on SPPUR competence periodically. 3. Implementation of a credible PBK 2. Bank has conduct training for
COMPETENCY IN THE FIELD OF 3. Bank may act as the Training Provider (LPK) of SPPUR with approval SPPUR and SPPUR Competency several related employees.
RUPIAH MANAGEMENT AND from BI. Certification; and
PAYMENT SYSTEM (SPPUR) 4. Improvement of protection
for consumer that use rupiah
management and payment system
products or service.
2. Regulation of Indonesian 1. Bank must submit report of Data on Deposit Insurance of a Accelerate the payment of insurance 1. Bank has conducted parallel
Deposit Insurance Company Commercial Bank Customer/Single Customer View (SCV) to IDIC (LPS). claims to Customers from Banks that runs on the monthly SCV report
(PLPS) No. 5 of 2019 as amended 2. Bank shall responsible for the accuracy of data in line with prevailing have been resolved by the IDIC (LPS) that must be submitted through
to PLPS No. 4 of 2020 regulations in Banking and issue a Statement Letter according to the Integrated Commercial Bank
ownership, maintenance and accuracy of the data of the Bank. Report (LBUT). However, currently
SINGLE CUSTOMER VIEW 3. Internal Audit must examine the quality of data and reliability of there is relaxation policy for LBUT
REPORTING OF COMMERCIAL the system and also storage of data, at least one time in a year, and implementation until data end of
BANK examination on the reliability of the system by External Auditors at June 2021;
least one time every three years. 2. Bank will conduct an internal audit
examination in 2021 related with
SCV.
3. Bank has submitted a statement
letter to the IDIC (LPS).
3. • PBI No. 22/3/PBI/2020 1. Changes on the daily and average ratio of Statutory Reserve in To maintain the stability of macro- Bank has maintained Rupiah
• PADG No. 22/2/PADG/2020 Foreign Currency. economy and financial system to Statutory Reserve (Commercial
• PADG No. 22/10/PADG/2020 2. Reducing daily Statutory Reserve for Commercial Bank and Sharia mitigate the risk of COVID-19 pandemic Bank and UUS) as well as Foreign
• PADG No. 22/11/PADG/2020 Business Unit (UUS). on the economy and to support the Currency Statutory Reserve in
• PBI No. 22/10/PBI/2020; dan 3. Adjustment of the Bottom Disincentive parameters and Top National Economic Recovery. accordance with the prevailing
• PADG No. 22/19/PADG/2020 Disincentive parameters that are used in the fulfillment of Giro RIM regulations.
and Giro RIM Sharia to 0% for the period of one year (from 1 May
STATUTORY RESERVES IN RUPIAH 2020 until 30 April 2021);
AND FOREIGN CURRENCY FOR 4. BI may provide interest earning on certain portion of the Statutory
CONVENTIONAL COMMERCIAL Reserves by a Commercial Bank in Rupiah, whereas for Sharia Bank
BANK, SHARIA BANK AND SHARIA and Sharia Business Unit, BI will provide incentives in the form of
BUSINESS UNIT ‘athaya’.
4. POJK No. 11/POJK.03/2020 1. Bank can determine loan quality based on Payment Record. This is 1. As a quick response to the COVID-19 1. Bank has implemented the
as amended to POJK No. 48/ only applied for debtor which affected by COVID 19 with maximum pandemic, in March 2020 OJK has relaxation provision according to
POJK.03/2020 plafond IDR 10 Bio. issued POJK No. 11/POJK.03/2020 this regulation;
2. Bank can determine loan quality of any restructured loan as a on the National Economic Stimulus 2. Bank has updated Internal Policies
NATIONAL ECONOMIC STIMULUS “Current” until 31 March 2022. as a Countercyclical Policy on the and Procedures refer to this
AS A COUNTERCYCLICAL POLICY 3. Bank shall consider the implementation of risk management and Impact of Corona Virus Disease regulations
ON THE IMPACT OF CORONA prudential principles in order to implementation of relaxation policy 2019 Pandemic that is effective until
VIRUS DISEASE 2019 PANDEMIC for debtors that are affected by COVID-19. 31 March 2021.
4. Bank may implement policies on liquidity and capital as a result of the 2. Subsequently, OJK issued
COVID-19 pandemic. POJK No. 48/POJK.03/2020 as an
anticipative and continuing step
to optimize Banking performance,
maintain financial system stability,
and support economic growth while
still maintaining the prudential
principles and avoiding moral
hazard.
5. • PBI No. 22/4/PBI/2020 as 1. BI provides incentive in the form of reduction of the Minimum To encourage economic recovery from Bank had exposure on lending to
amended to PBI No. 22/19/ Statutory Reserves for Banks that allocate funds to certain economic the COVID-19 pandemic, BI needs the economic sectors. In order with
PBI/2020 activities. to respond with a macro-prudential that, Bank has utilized the incentive
• PADG No. 22/4/PADG/2020 2. This incentive is effective until 30 June 2021. policy to support sector real recovery program.
as amended to PADG No. by extending the period of incentives
22/35/PADG/2020 for certain period to Banks that provide
funds to certain economic activities.
INCENTIVES FOR BANKS THAT
PROVIDE FUNDS TO CERTAIN
ECONOMIC ACTIVITIES IN
SUPPORT OF MANAGING THE
IMPACT THE CORONA VIRUS
PANDEMIC ON THE ECONOMY

6. PBI No. 22/7/PBI/2020 Adjustment of several implementation of regulations, i.e.: To support the implementation Bank has updated the activities in line
• Licensing, reporting, correspondence and/or coordination meeting of government policies and to with the relaxation BI policy, including
ADJUSTMENT OF with BI; ensure implementation of several the adjustment on the interest rate and
IMPLEMENTATION OF SEVERAL • BI cash management services; BI regulations in accordance with also minimum payment for credit card
BANK INDONESIA REGULATIONS • Cost of BI National Clearing System (SKNBI); prevailing regulations.
AS A RESULT OF THE CORONA • Credit card activity and adjustment of implementation on National
VIRUS DISEASE 2019 (COVID-19) Standard of Chip Technology and 6-digit online PIN for Debit Card.
PANDEMIC
7. POJK No. 31/POJK.07/2020 1. Bank should monitor any Complaints through APPK (the Consumer 1. Law enforcement for Financial 1. Bank has updated Policies and
Protection Portal Application). Services stakeholders regarding Procedures in line with this
IMPLEMENTATION OF CONSUMER Any customer complaint must be followed-up according to OJK complaint handling framework by regulation.
AND PUBLIC SERVICES SECTOR Regulation regarding Customer Complaint Services. OJK. 2. Bank has monitored complaints
ON FINANCIAL SERVICE SECTOR 2. Bank must inform follow-ups on customer complaint, to OJK through 2. In order to synergize all related through APPK since January 1 2021.
BY OJK APPK. parties and stakeholders to
enhance costumer protection.
8. Finance Minister Regulation Government Guarantee Program that is provided to debtors of the real PEN Guarantee Program is purposed to Bank has followed-up the government
(PMK) No. 71/PMK.08/2020 sector and MSME which affected by COVID-19, under certain criteria protecting, maintaining and increasing guarantee program for MSME debtors,
through the guaranteeing companies: JAMKRINDO and ASKRINDO. the economic capacity of Debtors in the and cooperated with ASKRINDO and
PROCEDURES ON GOVERNMENT real sector and the Financial sector to JAMKRINDO.
GUARANTEE THROUGH A sustain their businesses.
GUARANTEEING COMPANY
APPOINTED FOR THE
IMPLEMENTATION OF THE
NATIONAL ECONOMIC RECOVERY
PROGRAM
9. Finance Minister Regulation Government Guarantee Program that is provided to Corporate As a follow-up of the PP No. 23 of 2020 Bank has followed-up the government
(PMK) No. 98/PMK.08/2020 Debtors which affected by COVID-19, under certain criteria through the regarding PEN Program in Support guarantee program for corporate
guaranteeing companies: LPEI and PII. of the National Financial Policy in the debtors under certain criteria, and
PROCEDURES ON Handling of COVID-19 Pandemic in to cooperated with LPEI.
GOVERNMENT GUARANTEE Facing the Threat of National Economy
FOR THE CORPORATE BUSINESS and/or Financial System Stability and
THROUGH A GUARANTEEING National Economic Rescue.
COMPANY APPOINTED FOR
THE IMPLEMENTATION OF THE
NATIONAL ECONOMIC RECOVERY
PROGRAM
10. PBI No. 22/12/PBI/2020 1. The ACCD Bank in Indonesia shall assess the conformity customer To increase and widen the scope of LCS 1. Bank will adjust its internal
profile and business activities that can be facilitated through LCS transaction and also to strengthen the procedure related to ACCD
SETTLEMENT OF BILATERAL scheme. framework of LCS ACCD. Malaysia-MYR in line with the
TRANSACTIONS USING LOCAL 2. Adjustment of the type of underlying document that can be used for prevailing regulation.
CURRENCY THROUGH A BANK LCS transaction; and 2. BI has appointed CIMB Niaga as the
3. The ACCD Bank in Indonesia must have a Standard Operating ACCD Bank for Thailand-Baht.
PADG No. 22/34/PADG/2020 Procedure (SOP) related to the LCS transaction that at least covers: 3. Bank will establish the procedure
the KYC principles, as well as internal audit examination toward LCS for the mechanism of ACCD
SETTLEMENT OF A BILATERAL transaction. Thailand-Baht.
TRANSACTION BETWEEN
INDONESIA AND THAILAND USING
RUPIAH AND BAHT THROUGH
A BANK
11. • PBI No. 22/17/PBI/2020 1. Fulfillment requirement of Macro-Prudential Liquidity Buffers (PLM) To maintain macroeconomic stability Bank has maintains and monitor the
• PADG No. 22/11/PADG/2020 is set at 6% of Third Party Fund of a Conventional Commercial Bank in and that of the financial system, ratio of RIM and PLM according to the
• PADG No. 22/30/PADG/2020 Rupiah, previously is 4%. in mitigating the risk of COVID-19 prevailing regulation.
2. Sharia securities in Rupiah that is held by a Sharia Business Unit (UUS) pandemic on the economy and support
MACROPRUDENTIAL as part of the statutory PLM can also be used to manage liquidity by the National Economic Recovery.
INTERMEDIATION RATIO (RIM) transacting it with BI, based on the BI sharia principle, and through an
AND MACROPRUDENTIAL open market operation.
LIQUIDITY BUFFER (PLM) FOR
CONVENTIONAL COMMERCIAL
BANK, SHARIA BANK AND SHARIA
BUSINESS UNIT
12. Finance Minister Regulation 1. Provision of Interest Subsidy to MSME debtors; As a follow-up of the PP No. 23 of 2020 Bank participates in the Interest
(PMK) No. 138/PMK.05/2020 2. Guideline for Bank obligation as provider of MSME Credit; regarding PEN Program in Support Subsidy Program to MSME debtors.
3. Mechanism for claims on interest subsidy through the Credit of the National Financial Policy in the
PROCEDURES ON THE PROVISION Program Information System (SIKP). Handling of COVID-19 Pandemic in to
OF INTEREST/MARGIN SUBSIDIES Facing the Threat of National Economy
TO SUPPORT THE NATIONAL and/or Financial System Stability and
ECONOMIC RECOVERY PROGRAM National Economic Rescue.

13. POJK No. 45/POJK.03/2020 1. The redefinition of the criteria of the Financial Conglomerate is as 1. Inputs from Technical Assistance Bank as a Main Entity has established
follows: of the IMF and World Bank the Corporate Charter and submitted to
FINANCIAL CONGLOMERATION a. Total assets of the group must be greater than or equal to IDR 100 that OJK needs to review the OJK on November 27 2020.
trillion, calculated based on financial reports for the last positions prevailing definition of Financial
for June and December of the relevant year; and Conglomeration;
b. Business activity more than 1 (one) type of financial services 2. The current number of Financial
institution (i.e. banking, insurance/reinsurance, financing and/or Conglomeration is quite high, that
securities institutions) cause their oversight less effective
and efficient.
2. Main Entity must establish and have a Corporate Charter. In case
Corporate Charter has changed, the Main Entity must submit the
document of change to OJK at the latest 1 (one) month after the
signing of the Charter.
14. Regulation of the Minister 1. PSE is required to register at KOMINFO. To provide regulatory requirement on Bank is in the process to assess
of Communication and 2. Requirements of PSE as follows: the provision of the Electronic System registration requirement as PSE
Informatics (PerMenKominfo) a. Responsible for reliable, safety and accountable of Electronic in the Private Sector.
No. 5 of 2020 System.
b. Must provide guidelines/manual book in Indonesian language
PROVIDER OF THE ELECTRONIC (bahasa).
SYSTEM (PSE) IN THE PRIVATE c. Ensure the Electronic System does not contain forbidden
SECTOR information.
d. Ensure the Electronic System does not facilitate of forbidden
content dissemination.
15. POJK No. 64/POJK.03/2020 1. Bank can only access debtor information data at most 100% of As the Rule of Law to accommodate Bank will adjust implementation of SLIK
number of debtors reported in the previous 2 (two) reporting the addition of financial institution in reporting pursuant to the prevailing
AMENDMENT TO months. the Capital Market, namely Securities regulation.
POJK No. 18/POJK.03/2017 ON 2. Debtor Information can be used to: Company (PE) that is engaged in the
THE REPORTING AND REQUEST a. Support the credit process; business of securities brokerage
FOR DEBTOR INFORMATION b. Risk management implementation; and corporate finance to become
THROUGH THE FINANCIAL c. Identifying the quality of the Debtor or other related parties; a SLIK Reporter. In addition, the
INFORMATION SERVICE SYSTEM d. Human resource management; and/or change in this POJK also covers the
(SLIK) e. Verification process with third parties governance on the dissemination
3. Bank are requires to conduct internal audits of their SLIK and use of debtor information to
implementation on an annual basis. enhance the effectiveness of the SLIK
4. Prohibition to sell or buy the SLIK data. implementation, and mitigation of
debtor information misuse.
16. PBI No. 22/20/PBI/2020 1. Redefinition of Consumer and Provider; 1. Adjustment on the scope of BI’s 1. Bank will adjust the activities in line
2. Expansion the scope of BI’s customer protection; customer protection, which covers with this regulation;
BANK INDONESIA CUSTOMER 3. Enhancement of consumer principles in line with international best all activities under BI’s supervision; 2. Adjust internal policies and
PROTECTION practices, consideration of the innovation and also evolution of digital 2. Harmonization on relationship procedures regarding BI customer
finance; between provider and customer, protection.
4. Strengthening of education, complaints handling, and supervision. as well as respond the innovation
and digitalization products and/
or financial services and payment
systems.
17. PBI No. 22/22/PBI/2020 1. Adjustment on the regulation of LBUT, as follows: The issuance of this PBI is due to the Bank will conduct parallel run on LBUT
a. The period for LBUT submission consist of: spread of COVID-19 pandemic that report until the end of June 2021 data.
AMENDMENT TO PBI NO. 21/9/ 1) The parallel run period for report submission and/or revised hinder bank operations, including the
PBI/2019 ON THE INTEGRATED report since latest data on end of December 2019 until latest submission of LBUT report. In relation
REPORT OF COMMERCIAL BANK data on end of June 2021. with that, BI considers it necessary
(LBUT) 2) Full implementation period: report submission and/or revised to adjust the implementation period
report as of July 2021 data. of the LBUT system to ensure the
b. Written notice shall be provided to the Bank that is late or did not dissemination of banking information
submit the report and/or revised report as of end of March 2021 that is comprehensive, accurate,
data until end of June 2021 data. updated, holistic and timely to support
2. Submission of existing reports still effective until end of June 2021 policy making.
data.
The aforementioned amendments to laws and regulations have no significant impact on the consolidated financial
statements for the current period or the period in the preceding year.

MARKETING ASPECTS
ANALYSIS OF MARKET SEGMENT AND In marketing products and providing services to

COMPETITION customers, CIMB Niaga optimizes all existing networks
As Indonesia’s economy slowed down under the pressure including branch offices, ATMs, CDM/CRM, Digital Lounge
of COVID-19 pandemic and the implementation of social and digital networks such as OCTO Mobile, OCTO Clicks,
mobility restriction policy, CIMB Niaga must continue and BizChannel@CIMB.
to innovate in terms of products, services and business
processes in order to improve service quality and provide MARKETING COMMUNICATION STRATEGY
the best of customer experience to target customers. Marketing communication is a key aspect of CIMB Niaga’s
This is mainly due to the increasing need of customers marketing strategy. The Marketing, Brand & Customer
for reliable and secure digital transactions. The economic Experience (MBCX) sub-directorate under the Consumer
slowdown is a major challenge for various industries, Banking directorate is responsible for the Bank’s brand
including the banking industry. Almost all affected building program. In 2020, CIMB Niaga achieved a 50%
industries must adapt to changes in people’s behavior. rating in Spontaneous Brand Awareness.
This includes CIMB Niaga, which continues to innovate to
improve services to consumers. CIMB Niaga continues to strive for efficient cost
management through collaborative initiatives and smart
MARKETING STRATEGY AND BANK POSITION spending programs. Some of the continuing initiatives
IN THE INDUSTRY carried out in 2020 are as follows:
In 2020, CIMB Niaga maintained its position as the 1. Collaboration and integration of programs both
second largest national private bank in Indonesia by offline and online with all business and supporting
asset size. In developing its business, the Bank focuses units to drive business growth, such as:
on lending to the Consumer, SME, and Tier-1 Business • Xtra Xpo
Banking customer segments. • Haya Online Fest
• MASA integrated product communication
CIMB Niaga continues to innovate in order to improve campaign
services for its customers, especially through better • #KejarMimpi campaign
customer targeting and customer deepening. Through 2. Activities in #SolidLawanCOVID social campaign as a
these two aspects, CIMB Niaga is able to better understand manifestation of CIMB Niaga’s concern in dealing with
customer needs and preferences. As an organization, the the COVID-19 pandemic.
Bank is aware with the latest competition landscape and 3. Optimizing the use of social media assets and digital
is ready to respond to various market demands. Thus, promotions.
CIMB Niaga’s marketing strategy can run effectively and 4. Maintaining good relationships with various business-
efficiently according to the targets set by the Bank. based sharia communities as one of the key strategies
to improve CIMB Niaga Syariah’s business.
Throughout 2020, CIMB Niage consistently implemented 5. Maximizing the function of the corporate website as
the established medium-term strategy, including one of the main information channels.
focusing on the funding side, namely the increasing 6. Public Relations and Thought Leadership Initiatives.
of low-cost funds (CASA). CIMB Niaga also continues 7. Campaigns to strengthen digital banking services
to improve digital services through optimization of using the OCTO brand, such as the OCTO Mobile with
information technology to provide the best service for its new tagline “Banyak Bisanya, Bisa Semaunya”.
banking transactions.
CIMB Niaga applies the #KejarMimpi spirit to continue
serving Indonesia in all forms of promotional activities
and communicated to every segment of society starting
from young children who grow up with their highest

hopes, young people who have ambitions to achieve CIMB Niaga is compelled to play an active role in the
their goals and dreams, young families who want to give fight against COVID-19 pandemic, while encouraging
their best for spouses and children, entrepreneurs and community participation through the ‘#SolidLawanCOVID’
the business sector, as well as established individuals social movement. As an initial step, the Bank has allocated
and families. Through the spirit of #KejarMimpi, CIMB funds of Rp1 billion for the purchase of health protection
Niaga hopes to act as a partner and enabler who is close equipment to be distributed to a variety of deserving
to the community and together realize the dreams of the parties.
Indonesian people through its products and services.
The #SolidLawanCOVID social movement encourages
In 2020, #KejarMimpi community groups already members of communities, including CIMB Niaga
exist in some 29 cities, performing a variety of online employees, to provide assistance in the fight against
activities in cooperation with various orphanages, youth COVID-19. Assistance can be provided in the form of fund
communities, families and business players. These transfers or Poin Xtra via OCTO Mobile or OCTO Clicks.
activities feature inspirational guest speakers with the
aim of spreading the spirit of #KejarMimpi, so as to CIMB Niaga will distribute all the collected assistance
motivate and inspire all the people of Indonesia in the to institutions engaged in the health sector, the Micro,
face of challenges due to the COVID-19 pandemic. Small and Medium Enterprises (UKM) sector, and other
informal sectors affected by COVID-19. Specifically for
CIMB Niaga held the #KejarMimpi Online Festival with a the health sector, assistance is allocated for the purchase
theme of ‘Living The New Culture’ on 12 - 14 June 2020, of personal protective equipment (PPE), cleaning
as well as the ‘We Are The Change’ online festival on 24 equipment, food, and vitamins for medical personnel
- 27 September 2020. The ‘Living the New Culture’ online in hospitals designated by the Government to handle
festival encourage people to adapt to the new way of life COVID-19 cases.
during the COVID-19 pandemic. Meanwhile, the ‘We Are
The Change’ online festival was held in collaboration with These so-called ‘heroes of humanity’ deserves the highest
29 #KejarMimpi communities throughout Indonesia. The of appreciation for their hard work in the challenging
two #KejarMimpi online festivals invite mentors from situation while taking part in the fight to stop the spread
various fields to share their experiences and insights of COVID-19 virus.
with the wider communities, in order to support the
adaptation of life and the movement of the younger XTRA XPO
generation in exploring their potential to become agents The ultimate annual exhibition event at CIMB Niaga, the
of social change. In the midst of current challenging XTRA XPO, is back again in its fourth year running, offering
conditions, CIMB Niaga continues to strive to be able to the general public and especially CIMB Niaga’s customers
inspire, motivate and provide the best contribution to a variety of ‘crazy deals’ in the spirit of customer loyalty
society. This activity is the Bank’s commitment to continue centric. In conjunction with the 65th anniversary of CIMB
to play an active role in serving Indonesia, including by Niaga, XTRA XPO features a variety of special programs
providing tangible benefits to help build quality future for exchanging customers’ Poin Xtra in collaboration with
human resources. well-known brand partners and stakeholders.
#SolidLawanCOVID Poin Xtra is a form of appreciation from CIMB Niaga for

2020 is a challenging year for the economy and industries. customer loyalty. By having Poin Xtra, customers can
In all its 65 years of serving Indonesia, CIMB Niaga has enjoy various offers, benefits, and flexibility for their daily
always been committed to assisting and contributing to lifestyle transactions.
Indonesia. CIMB Niaga initiated the ‘SolidLawanCOVID’
social movement that aims to help people affected by
the COVID-19 pandemic and support the struggles of
medical personnel and various other affected parties.

During the 2020 XTRA XPO, CIMB Niaga offers Xtra Crazy PUBLIC RELATIONS AND THOUGHT LEADERSHIP
Deals with 3x more quota than the previous year, namely CIMB Niaga actively promotes good relations with the
65% discounts and cashback for various Crazy Offers of mass media through various activities under the Public
gadgets, travel, fashion & beauty, car and home down Relations and Thought Leadership initiatives. These
payments by simply exchanging Points Xtra. In addition, activities aim to strengthen the positive perceptions of
customers can also exchange 1 Poin Xtra, which is usually CIMB Niaga through mass media publications, which
worth Rp10, at Rp650 (specifically for CIMB Preferred eventually will increase the trust of existing customers
customers). Poin Xtra exchange is accepted at a number and potential customers towards the Bank. Some of the
of well-known CIMB Niaga brand partner merchants such highlights of the Thought Leadership program include
as Erafone, Cathay Pacific, Sinarmas Land, Ciputra Land, being more active in presenting the appearances of CIMB
BMW, Tesla Motors, and many others. Niaga’s senior leaders in the mass media, or at events
and activities involving the mass media. This initiative
Differing from last year’s expo, CIMB Niaga held a PUBG intends to show that CIMB Niaga is managed by credible
Mobile Championship in collaboration with Revival. This professionals who can also provide inspiration for the
e-sport activity was carried out from two weeks before community.
the finals at the XTRA XPO locations. Some 1,000 teams
competed with each other to enter the semi-finals and During the pandemic, CIMB Niaga transforms a number
finals against the invited Pro Team. Children can enjoy of Public Relations and Thought Leadership activities
coloring activities or interact with animals at the Xtra Kids were transformed from offline (face to face) events
and Xtra Zoo Corner. Another exciting experience during to online to nurture good relations, as well as to share
the event is the appearance of some of Indonesia’s information/updates related to CIMB Niaga to the mass
famous Youtubers that brings an atmosphere of warmth media. One of them is through the ‘Media Visit’ activity
and friendliness to the event. that was conducted through an online platform. This
solution enables CIMB Niaga to continue maintaining
HAYA ONLINE FEST 2020 good relationship with the mass media even though
During the COVID-19 pandemic, most activities have to CIMB Niaga is not be able to meet in person and face
be carried out online. This forces businesses to be more to face. Being on good relations, the mass media will be
creative in order to survive. Realizing that the usual more inclined to support CIMB Niaga through positive
lifestyle of people in Indonesia of going to the shopping news related to the services and caring that the Bank
malls will be restricted during the pandemic, CIMB Niaga provided to customers and the public, especially in the
Syariah presents an event titled the Haya Online Fest current situation.
2020, which also received an award from the Indonesia
World Records Museum (MURI) as the first bank to hold In Public Relations activities, CIMB Niaga actively educates
an online bazaar. and encourages the public to transact in a healthy and
safe manner using digital banking services. The Bank
The event takes place from September to November performs this continuous communication to increase
2020, involving the participation of more than 120 awareness as well as customer and public confidence to
merchants that can be accessed via the Hayaonline. remain productive in the midst of a pandemic by utilizing
dream.co.id microsite. In this way, without ever leaving digital banking services to meet their financial needs.
home, people can still do their shopping. The 2020
Haya Online Fest is also an opportunity for brands and Meanwhile, through the Thought Leadership initiative,
businesses to introduce their products more widely to CIMB Niaga’s senior leaders also have the opportunity to
the public as well as a business strategy to survive in the share their views and constructive ideas by participating
midst of a pandemic. Apart from the online shopping as a spokeperson at seminars, workshops, and online
experience, Haya Online Fest 2020 also presents talk talk shows. In addition, the views and perspectives
shows and webinars with various inspirational speakers. delivered by these senior leaders on issues related to

their respective expertise were also published in the With a competitive advantage and strong positioning in
OPINI articles of the country’s top tier mass media. The the consumer banking segment, CIMB Niaga continue
profiles of CIMB Niaga’s senior leaders were also featured to provide various innovative solutions, products and
in the mainstream media to convey success stories that services designed not only to provide added value
can inspire the public. competitively but also to provide a distinct customer
experience. Meanwhile, in the SME and Business Banking
In conducting promotional activities, the Bank segments, the Bank strive to improve its positioning by
implements an integrated marketing and communication providing comprehensive and innovative products and
strategy, enabling customers and the public to obtain services as a one-stop solution for all customer needs.
comprehensive and relevant information regarding
the Bank’s products and services. The integrated CIMB Niaga is a market leader and has a strong market
communication on products and services is delivered via positioning in digital banking services in Indonesia, and
above the line (ATL) channels, comprising the conventional continues to be committed to developing digital banking
media such as TV, radio, newspapers, outdoor media, as services that focus on customer centricity through
well as digital media such as Facebook ads, YouTube ads, understanding customer needs, providing reliable
Instagram ads, Google Display Network (GDN), and also services, and creating the best customer experience.
programmatic ads. The communication strategy is also CIMB Niaga have one of the best mobile banking
delivered below the line (BTL) in the form of corporate applications in Indonesia and continue to provide the
events and sales marketing events which are also latest service features for customers (In 2020, CIMB
conducted in online/virtual format. Communications is Niaga was awarded the Best Mobile Banking Apps in
optimized using Bank-owned media channels such as Indonesia and Best Consumer Digital Banks in Indonesia
websites, corporate social media accounts, posters, ATM at the 2020 World Finance Digital Banking Awards).
& CDM channels, and mobile cash outlet branding.
MARKET PENETRATION
INTERNAL MARKETING CIMB Niaga conducts market penetration through new
At the internal side, marketing and communication customer acquisitions, customer deepening, financing
strategies are also carried out to all CIMB Niaga staff and funding through the value chain, enhancing
in line with the “Inside Out Marketing” campaign. This customer experience, and launching innovative
is implemented through the socialization of the Bank’s products. In addition, CIMB Niaga also collaborates with
products and services currently in promotion for internal merchant partners through attractive product offers and
consumption through a daily integrated email blast promotional programs.
communication channel, as well as the use of thematic
screen displays (wallpapers) on employees’ laptops and The development and enhancement of digital banking
desktop units. Marketing to staff is also supported by services, in terms of transactions, features, and
dissemination of product and service knowledge through capabilities, are continuously carried out to increase the
the Internal Digital Magazine as well as LED TVs installed number of users. Offering speed of service irrelevant
in a number of main offices. of customer location and banking work hours, digital
banking is convenient for the consumer, provides
BANK’S PRODUCT POSITIONING IN THE advantages in cost efficiency, and also offer benefits in
MARKET AND THE CONSUMER corporate branding that can reach a wider range through
As Indonesia’s second largest private bank in terms digital banking media.
of assets, CIMB Niaga continues to maintain a strong
positioning among national private banks by providing The installation of OCTO Vending machines in new
universal banking services to target markets. In line locations is an innovation to increase market penetration
with the strategic focus to make CIMB Niaga a Focused
Universal Bank, especially in Consumer, SME and tier-1
Business Banking segments, the Bank will continue to
innovate in providing products and services that meet
the needs of target markets.

during the COVID-19 epidemic. To facilitate greater Cooperation and coordination between business units
consumer access, OCTO Vending CIMB Niaga are is an important factor in driving sales of products and
available in various offices, malls, campuses, hospitals services and expanding the customer networks. The
and airports. The accessibility of health support products Transaction Banking Unit helps connect the value chain
at OCTO Vending is expected to be one of the solutions to between principals, distributors and suppliers, for
meet customer needs for health support products during financing as well as funding products.
the COVID-19 pandemic.
In terms of technology utilization, CIMB Niaga provides
PRODUCT DEVELOPMENT integrated digital banking/branchless banking services
In order to provide the best service for customers, through OCTO Mobile and OCTO Clicks. Business synergy
CIMB Niaga continues to make continuous innovations is also carried out by the Bank with its subsidiary, namely
in products, services, and bundling that are tailored to PT CIMB Niaga Auto Finance (CNAF) related to consumer
customer needs in a changing marketplace. The Bank financing for auto loans (KPM). Meanwhile, cooperation
also develops a comprehensive service concept, both with CIMB Group is also continuously carried out
conventional and sharia-based services, delivered to improve product linkages and optimize regional
through physical and digital channels. synergies to provide access to new markets.
The development of features and capabilities in digital SERVICE EXCELLENCE AND PROMOTION
banking services for the retail and non-retail segments CAMPAIGNS
is expected to support the Bank’s aspirations to be at the CIMB Niaga is committed to continuously improving
forefront of digital banking and at the same time support service to all customers in order to achieve the best of
the strategy of increasing CASA. Product innovations customer experience. In fulfilling customer needs for
in lending and funding, and the development of digital easy and safe transactions, CIMB Niaga continues to
banking, are being continuously pursued to meet the make continuous investment and innovation through
needs of customers for ever faster ways to conduct optimization of digital banking technology, service
banking transactions as well as for a better customer improvements, and additions to the branchless banking
experience. channels including ATM/CDM units. All of this is done as
a form of the Bank’s commitment to be at the forefront
In addition to the above initiatives, in providing a of digital banking services.
better customer experience through easier and more
convenient access to information and application of Integrated marketing and communication strategies as
consumer loan products as well as faster approval times, well as promotional activities are continuously carried
Consumer Banking also plans to carry out an Alternative out so that customers and the public get the latest and
Credit Scoring process, which is an assessment process relevant information regarding the Bank’s products and
and verification of customer creditworthiness with digital services. From the external side, CIMB Niaga delivers
processes using machine learning technology. integrated banking products and services through above
the line (ATL), namely through conventional media
INTEGRATION, SYNERGY AND ALLIANCES such as television, radio, newspapers, outdoor media,
On an ongoing basis, CIMB Niaga continues to create and digital media such as Facebook ads, YouTube ads,
synergy among business units to explore opportunities Instagram ads, Google Display Network (GDN), and also
for customer deepening from different business programmatic ads. Communication strategies are also
segments in the existing customer bases, such as cross delivered below the line (BTL) in the form of corporate
selling and value chain between business units that can events & sales marketing events. Communications is
increase the product holding per customer as well as the optimized by using the Bank’s media channels such as
level of customer engagement with the Bank. Meanwhile, the website, social media accounts, posters, ATM & CDM
cross product penetration is also carried out for retail channels, and mobile cash branding.
products, one of which is through CIMB@Work, which
offers products such as KPR, KPM, credit cards, payroll
loans and other services to employees of Corporate
customers.

Internally, CIMB Niaga implements a marketing In addition to providing convenience, speed and security,
communication strategy to all CIMB Niaga staff through this initiative also supports the Government’s efforts to
education on the Bank’s products and services that are stop the spread of COVID-19 virus.
being promoted. Communication to internals is carried
out by means of integrated email blasts, news galleries, MARKET SHARE
desktop wallpapers, and LED TVs installed in office areas. In 2020, CIMB Niaga’s market share in terms of total
assets was 3.1%, Customer Deposits was 3.1%, low-cost
In an effort to increase digital transactions, CIMB Niaga funds (CASA) was 3.2%, and Loans of 3.2%. With these
offers promotion programs for customer transactions achievements, CIMB Niaga strengthened its position as
and shopping at selected e-commerce platforms using Indonesia’s second largest private bank in terms of asset
digital payment channels such as CIMB Clicks, QR OCTO size.
Mobile, Rekening Ponsel, and Virtual Card Number (VCN).
No Description 2020 2019 2018

1 Total Assets (Rp billion) Industry 9,177,894 8,562,974 8,068,346
CIMB Niaga 280,944 274,467 266,781
2 Loans (Rp billion) Industry 5,481,560 5,616,992 5,294,882
CIMB Niaga 174,755 194,238 188,468
3 Customer Deposits (Rp billion) Industry 6,665,390 5,998,648 5,630,448
CIMB Niaga 207,529 195,600 190,750
4 NIM (%) Industry 4.45 4.91 5.14
CIMB Niaga 4.88 5.31 5.12
5 CASA Ratio (%) Industry 57.92 56.86 55.77
CIMB Niaga 59.62 55.35 52.61
6 NPL – Gross Ratio (%) Industry 3.06 2.53 2.37
CIMB Niaga 3.62 2.79 3.11
7 LDR (%) Industry 82.24 93.64 94.04
CIMB Niaga 82.91 97.64 97.18
8 ROA (%) Industry 1.59 2.47 2.55
CIMB Niaga 1.06 1.86 1.85
9 ROE shareholder funds (%) Industry 8.24 12.38 13.08
CIMB Niaga 5.01 9.35 9.09
10 CAR (%) Industry 23.89 23.40 22.97
CIMB Niaga 21.92 21.47 19.66

MARKETING STRATEGY AND TARGETS IN 2021 LONG-TERM MARKETING STRATEGY

In 2021, CIMB Niaga has plans to implement an In the long term, CIMB Niaga will continue to face
annual marketing strategy and targets. CIMB Niaga the future with confidence and establish a long-term
notirecognizes that the on-going COVID-19 pandemic marketing strategy that is in line with the Bank’s strategy
which is still spreading till early 2021 not only but also to become a Focused Universal Bank in Indonesia for
as an opportunity to continue innovate in term to serve consumer, SME and corporate segments with the best
customer service in the Bank’s target market. The Bank quality. CIMB Niaga’s long-term marketing strategy,
will continue organize various promotional programs, rooted in the principle of customer centricity, will serve as
events and other marketing programs through digital a differentiator from competitors, and especially through
platforms considering printed media and out of home and the following initiatives: (1) in-depth understanding
radio is starting to diminish. Through various integrated of customer needs; (2) strengthening the reliability
marketing programs that focus on CIMB Niaga’s target of customer service; (3) transformation of customer
market, the Bank strives to be able to realize the 2021 experience; and (4) equal service to all customers.
marketing target, including loans growth target of 3%-5%
and a customer deposits growth target of 3%-5%. More Through this long-term strategy, the Bank will strive
detailed information on projections for 2021 is presented to consistently provide products and services that are
in the Management Discussion and Analysis section. relevant, have added value, and competitive, to our
customers. As a benchmark, in the long term we expect
to see sustained improvements in certain indicators of
customer satisfaction level that we regularly measure,
such as NPS (Net Promotor Score), turnaround time, and
others. One of the main objectives the Bank’s long-term
strategy is to increase the market share in the Bank’s
target market, which in turn is expected to increase value
for the shareholders.

BUSINESS PROSPECTS
MACRO ECONOMY 2021 State

In 2021, an improving global economy is expected to Indicator
2020
Budget
2021
continue, buoyed by increasing people mobility and
continuing economic stimulus. In some parts of the world, Economic growth (%, yoy) 2.07 4.5 - 5.5
COVID-19 has not shown to abet with a growing number Inflation (%, yoy) 1.68 3.0
of infection cases albeit with less fatality. Continued fiscal Interest rate (%)* 5.93 7.29
and monetary stimulus in many countries throughout Rupiah exchange rate (Rp/US$) 14,105 14,600
2020 helped alleviate the impact of COVID-19. *) Yield of 10 years Government Bonds
Early indicators in October 2020 had shown signs of

an improving global economy going forward. This was Bank Indonesia also projects economic growth for
evident from the increasing mobility and improving Indonesia in 2021. This growth will be supported by the
consumer and business confidence in the US and improving global economy as well as an accelerated
Europe. With these developments, the global economy realization of both central and regional government
in 2020 was expected to be better than estimated, and budgets, progress in the loans restructuring program, and
should improve further in 2021. Monetary policies that the continuing monetary stimulus and macroprudential
are expected to remain accommodative should also policies of Bank Indonesia. From a mobility perspective,
support the global economic recovery. This projection is the latest trend has shown increased public mobility
in line with that of the International Monetary Fund. The amid the widespread COVID-19 pandemic that remains
IMF estimates global economy would grow 5.5% year on high.
year in 2021. At the same time, the volume of global trade
will return to positive in 2021 in line with the recovering Amid this development, public mobility began to improve
global economy. by end of 2020, manifested by the so- called new normal
behavior. This mobility can be seen through growing
The presidential election in the US has been completed activity at groceries and pharmacies, retail and recreation,
and the availability of COVID-19 vaccines in 2021 should workplaces and transit stations. Increased public mobility
reduce economic uncertainties, which in turn could was also noted in several areas in Indonesia, almost
stimulate a return of capital to developing countries. approaching a level seen before COVID-19. Meanwhile,
The capital inflows will mainly go to emerging markets in mobility in the Greater Jakarta area had remained
Asia. In 2021, capital is expected to flow into developing restricted due to the return of lockdown.
nations, including Indonesia.
The recovery of investment is expected to continue
The economic prospects for Indonesia in 2021 is also gradually through 2021. Investment in 2021 could
expected to improved along side of the global economy, potentially pick-up with growing business confidences,
and the effects of fiscal stimulus towards an accelerated the enactment of Omnibus Law, and the continuing
economic recovery as well as efforts to contain the National Strategic Program (NSP) that includes
pandemic. However, the macro economic framework for infrastructure development. The enactment of Omnibus
2021 is still fraught with significant uncertainties, such Law will increase the competitiveness of investments in
that the possibility still exist for a divergent projection of Indonesia by the efforts to improve the ecosystem for
the global economy in 2020 and 2021. Based on data from investments and ease of business, as well as the provision
the Ministry of Finance of the Republic of Indonesia, the of incentives to fuel economic growth. All this will in turn
basic macro economic outlook for 2020 and projection increase business confidence, fuel investments, both of
for 2021 are as follows: which are key elements to providing job opportunities
toward economic growth.

Improving investment landscape in 2021 will also be BUSINESS STRATEGY OF CIMB NIAGA IN 2021
boosted by the continuing NSP that had been temporarily CIMB Niaga was faced with major challenges and risks
postponed in 2020, including the infrastructure projects. in 2021. These challenges and risks could be anticipated
Infrastructure development in 2021 will focus on the from the slow economic recovery and weak loans
development of transportation infrastructure as well as disbursement. Amid the COVID-19 pandemic, CIMB
those of basic services such as construction of dams, Niaga actively monitors debtors that are engaged in
roads and power plants. sectors that are considered vulnerable to the effects of
the pandemic.
The expansive fiscal policy will continue to 2021 as
reflected in the nation’s current account deficit that The active monitoring is carried out by observing loans
reached 5.7% of GDP. The state budget for 2021 focuses Days Past Due/DPD, application to forgo principal
on government spending in support of an accelerated payment, deferment of interest payment, and losses on
economic recovery in the short term and transformation impaired financial assets. The monitoring is done by the
towards a modern Indonesia over the long term. This is CIMB Niaga in support of the stimulus program that is
manifested in the programed spending on education, called by the government while at the same time also to
public health, social protection, infrastructure, food protect the soundness of the Bank.
security, tourism and information technology. In the
mean time, the continuity of government stimulus will be Entering the year of 2021, CIMB will implement its 5 pillar
assured as evidenced by the state budget for the National strategy. In addition, the Bank will also carry out several
Economic Recovery Program of Rp356.4 trillion. The policies and business strategies as follows:
stimulus will be key to ensure the continuity of managing
the pandemic and its aftermath, maintaining people’s 1. Protecting employee’s health and welfare
purchasing power and the recovery of businesses. CIMB Niaga ensure employees’ health and welfare
are well maintained.
Consumption is likely to increase in 2021 in line with
improving income and consumer expectations. The 2. Maintaining liquidity
expectation for improving household consumption With robust digital channels, attractive programs for
stems from improving income that among other things customers, and its status as a BUKU IV, CIMB Niaga
is boosted by the continuing fiscal stimulus in the form of will continue to grow its low cost funding via savings
social protection in 2021 that will butress the purchasing and current accounts to ensure a sound level of
power of the low-income group. Improved consumption liquidity.
in 2021 will be boosted by higher consumer optimism,
especially that which relates to optimism for higher 3. Asset Quality
income as seen through among other things, higher CIMB Niaga ensure that the quality of assets are
consumer expectation index. In addition, people’s constantly monitored and well managed starting
expectation will also improve along with the optimism from its policies to customer acquisition or new
over the availability of vaccine in 2021. loans, periodical reviews, implementation of the
government stimulus program and others.
The lethargic national economic as a result of the
COVID-19 pandemic has hindered banking performance. 4. Managing Expenses
Loans growth remains weak as a result of low market CIMB Niaga ensures that expenses are well managed,
demand for loans, in conjunction with the slow economic including exploring opportunities for cost reduction
activity. Nevertheless, amid the uncertainties from the amid the COVID-19 pandemic.
pandemic, the monetary loosening policy will continue
to be relied upon to safeguard financial stability. This 5. Supporting the government program to ensure
policy may not have a direct impact on the real sector, economic and business continuity.
considering that a time lag will exist from the time the
policy is executed to such time when the benefits will be 6. Transformation and Digitalization.
felt. CIMB Niaga will continue with its project Forward23
with a focus on digitalization, improving productivity
(Source: Bank Indonesia, Ministry of Finance, Center for Budget Review of the
House of Representatives) and customer experience.

By considering the macro-economic conditions and the With the above projection on the macro economic
banking industry in 2020, including the financial market conditions and the Indonesian economy in general, the
turmoil and the situation related to COVID-19, CIMB Bank targets a loans growth of 3%-5% y-o-y in 2021.
Niaga will set a conservative target for its growth in 2021. Customer Deposits is also targeted to grow by 3%-5%
This is based on the expectation that the economy will y-o-y in 2021. Meanwhile, in terms of profitability, the
slowly recover in the post COVID-19 period, as well as Bank targets an ROE achievement of around 7.00%-
in support of the government’s programs to optimize 8.25% in 2021.
the intermediation function of the banking sector, and
maintain financial stability as well as economic growth.
Going forward, the Bank will implement the loans
classification and loans restructuring policies, while
continue to support the disbursement of loans to the
SME sector and Consumer Banking as one of the sectors
that represent the focus of loans disbursement.

BUSINESS CONTINUITY INFORMATION
MATTERS POTENTIALLY HAVING A Such opinion is based on the CIMB Niaga’s healthy
SIGNIFICANT EFFECT ON BUSINESS financial ratios and sound conditions that support
CONTINUITY long-term business viability. In addition, the support
Although throughout the year 2020 the economy was of shareholders, the synergies among entities within
clouded by the COVID-19 pandemic, CIMB Niaga did the CIMB Group, the recognition for the quality and
not face matters that could have significant bearings on credibility of the CIMB Niaga from rating agencies, are
the continuity of its business in the Indonesian banking all fundamental to the Bank’s ability to carry on with its
sector. Nevertheless, CIMB Niaga is constantly aware business.
of, and vigilant towards, the challenges to the growth of
banking credit in the future. CIMB Niaga’s banking infrastructure has been proven
capable of supporting the sustainability of various
CIMB Niaga remains committed to growing its loans businesses in the banking industry. If there is a lack of
more selectively to maintain its asset quality. CIMB Niaga supporting infrastructure, CIMB Niaga is committed to
is committed to implementing the prudence principle addressing the deficiency while still maintaining sound
with improvements to the standard policies for credit financial condition. Management is optimistic that the
approval, to achieve of high quality credit and actively CIMB Niaga is able to meet challenges while seizing
monitor loans disbursed which could potentially become the opportunities, supported by several factors that
non-performing loans. include competent human resources, adequate business
infrastructures and the international business network
MANAGEMENT ASSESSMENT OF that has become the basis of Management’s confidence
POTENTIALLY SIGNIFICANT EFFECTS ON in CIMB Niaga’s business growth in the future
BUSINESS CONTINUITY
CIMB Niaga continues to periodically evaluate the In terms of contribution to the CIMB Group, during
formulation of the CIMB Niaga’s strategic plans, and also the past two years CIMB Niaga has contributed profit
assesses the CIMB Niaga’s ability to achieve its targets before tax to the Parent Company (CIMB Group Holdings
and ensure business continuity. Up to publication of the Berhad) of approximately 17% in 2019 and 54% in 2020.
2020 Annual Report, CIMB Niaga had not come across The CIMB Group holds a total of 92.50% shares (including
any findings of any material uncertainty that could cast a 1.02% holding by PT Commerce Kapital) of CIMB Niaga.
significant doubts about CIMB Niaga’s ability to maintain With consideration to such contributions, the business
its business continuity. With the involvement of the continuity of CIMB Niaga in the Indonesian banking
Board of Commissioners and Board of Directors, the industry will continue to receive sustainability support
Bank will exert all efforts to manage any potential issues from the Parent Company.
that could have significant bearings on the business
continuity of CIMB Niaga, including preparing and issuing ASSUMPTION USED BY MANAGEMENT IN ITS
consolidated financial statements in accordance with the ASSESSMENT
latest and sustainable Financial Accounting Standards. The Management of CIMB Niaga considers a number
On the basis of the Bank’s performance in 2020, as well of factors including the financial performance, levels
as of past performances, Management evaluated that of liquidity and solvency, significant agreements and
the continuity of the CIMB Niaga’s business in the future commitments, and on-going litigation cases in assessing
is in good condition. the Bank’s standing as a going-concern.




Risk
Management
Risk Management Focus 2020 287
Risk Management Framework and System 289
ICAAP (Internal Capital
298
Adequacy Assessment Process)
Sharia Business Unit (SBU) Risk Management 300
Bank and Consolidated Risk Profile &
301
Soundness Rating
Integrated Risk Management 302
Basel Implementation 304
Recovery Plan Disclosure 305
AFM (Anti Fraud Management) 308
Basel II Pilar 3: Disclosure of Capital,
Risk Exposure and Implementation 311
of Bank Risk Management
General Affairs 311
Capital 315
Risk Management Approach 330
Leverage Ratio 332
Credit Risk 334
Market Risk 393
Liquidity Risk 400
Operational Risk 414
Legal Risk 422
Reputational Risk 423
Strategic Risk 424
Compliance Risk 425
Intra-Group Transaction Risk 426
Rate of Return Risk 427
Investment Risk 428
Governance Risk – Remuneration Policy 428

RISK MANAGEMENT FOCUS 2020
To support a better business process through a more • Implement, explore and experiment on
effective risk management, Bank has performed machine learning data in several risk
transformation process whichfocus on developing various management areas, including an alternate
risk management infrastructures and strengthening risk model for credit card as well as deposit run off
culture. In 2020, Bank optimized the implementation and detection of re-aging on Credit Card.
of various risk management infrastructures in order to • Methodology and infrastructure
manage risk effectively, while optimizing returns and development/ enhancement, including CRDE
sustainable business growth. enhancement (Credit Risk Decision Engine),
implementation of the new VaR methodology,
The Bank’s focus on risk management is documented in and implementation of Country Risk Cap.
risk playbook that is formulated in line with the Bank’s focus • Strengthen credit risk management as follows:
strategy as contained in Forward 23 (F23), which is broadly - Enhancement on the EWRCL parameters
divided into several main areas/dimensions as follows: (Early Warning Recognition Watch List) and
1. Service customers better to support business growth follow-up actions.
and more effectively manage risk: - Improvement of credit proposal template
a. Develop and implement risk-based machine to enable faster and more robust credit
learning model to support business growth analysis and to establish database related
and more effectively manage risk, through the to credit assessment process.
following initiatives:

Performance
Ikhtisar Management
Laporan Company
Profil Analisis
Management
dan Pembahasan
Discussion Manajemen
Risk
Highlights
Utama Manajemen
Reports Perusahaan
Profile and
Manajemen
Analysis Management
Risiko
- Improvement on the system to be more c. Alignment of framework, methodology and

aligned with the strategy adopted by the reporting process with Subsidiaries.
Bank during the COVID-19 pandemic d. Proactively conduct thematic reviews on certain
period, such as: adjustment in credit areas by forming a task force.
policy for restructured on Covid-19 impact e. Business Continuity Management in anticipation
and new loan; thematic stress test and of various crisis conditions, e.g: natural disaster,
portfolio review; as well as provision COVID-19 pandemic impacts, especially with
set up. In addition to that, Bank also regards to the implementation of operational
strengthen the Credit Risk Management processes and operational risks mitigation steps
through verification/validation of Financial taken by the Bank.
Statement among others through: review Facing the COVID-19 pandemic conditions, in
on debtor’s movement of bank account, early March 2020, the Bank activated the BCM
trade/community checking and others. Document, wherein the Crisis Management
b. Engage the regulator proactively together with Team (CMT) and the Crisis Coordination Team
industry peers. (CCT) perform their roles and responsibilities in
c. Ensure that appropriate model and validation ensuring business continuity of the Bank.
framework for model risk are in place, among
others through periodic reviews and validations 3. Risk Culture
(yearly) on several models. a. Strengthen the risk culture through proactive and
relevant engagement with the stakeholders:
2. Operational risk excellence • Strengthen the risk culture by increasing
a. Strengthen implementation on technology the awareness and capabilities towards risk
resiliency, cyber, fraud and change approval and compliance through a series of training
frameworks, through among other things: and risk management certification program
• Development of an integrated management (including e-learning) such as Anti-Fraud
information system for operational risk Awareness and Operational Risk Awareness,
working platform for New Product Approval and formulating appropriate Key Performance
and Significant Changes Assessment Process Indicators for business or support units
to enable more effective reviews and approval related to to operational risk and compliance
process of products and processes changes. aspects.
• Establishment of the Information Technology • Continuously enhance internal control
Risk Management Framework and Cyber functions compentencies as the first line of
Resilience to manage information technology defense, especially the Risk Control Unit (RCU)
risk better and more effectively. role in supporting the respective business and
b. Leverage analytics to provide better transparency support units area to be constantly ‘In Control’.
and oversight process on material and emerging • Implemented Key Performance Indicator
risks. in risk management for all business and
• Leverage interactive data visualization support units, whereby Bank will also consider
application to optimize risk reporting and risk related behavior during performance
analysis. measurement and compensation.
• Improve the efficiency of data flow through b. Validate the effectiveness of initiatives related to
data management, as well as through the risk culture through surveys and feedbacks from
automation process of various reporting and stakeholders.
analytics, thus able to be conducted quicky
and repetitive/continous, also to minimize
operational error.

RISK MANAGEMENT
FRAMEWORK AND SYSTEM
CIMB Niaga realizes that strong and effective risk This can be achieve with a strong risk culture that become
management and internal control are critical part of the the foundation of control mechanism in the EWRM
Bank’s operational activities. framework. In addition, EWRM also comprises of an
effective and sustainable risk management process, and
The risk management implemention at CIMB Niaga is supported by adequate policies and procedures for all
is performed in line with the Enterprise Wide Risk significant risk areas for the Bank. The Bank also prepares
Management (EWRM) framework. This framework provides risk mitigation measures to maintain risk exposure to
the foundation for proactive and forward looking risk corresponds with the established risk appetite.
management processes to ensure sound and sustainable
business growth; maximize shareholders value; and Overall, the EWRM framework refers to and aligns with the
comprehensive capital management. Within the EWRM scope of risk management stipulated by Financial Service
framework, risk is managed in an integrated manner by Authority (OJK) that includes:
aligning risk appetite with business strategies. 1. Active oversight by the Board of Commissioners and
the board of Directors.
The main objective of EWRM implementation is to enable 2. Adequacy of risk management policy, procedures
the Bank to achieve and realise its business targets and and risk limit setting
plans while still taking into account the prudencial principle, 3. Adequacy of risk identification, measurement,
maintaining good financial performance, comply with monitoring and control processes, as well as risk
prevailing regulations and franchise/brand value owned by management information system.
CIMB Niaga. 4. Comprehensive internal control system.
The design of EWRM includes complimentary “top-down strategic” and “bottom-up tactical” risk management approaches.
The main components in the EWRM framework are illustrated in the following diagram:
Enterprise Wide Risk Management (EWRM) Framework
Governance & Organization
Risk Appetite
Risk Management Process

Risk Culture
Risk
Business Risk Identification Risk Monitoring &
Management &
Planning & Assessment Measurement Reporting
Control
Risk Policies, Methodologies &

People Technology & Data
Procedures
Risk Management Infrastructure

RISK CULTURE CIMB Niaga performs the following as the actual

A strong risk management serves as the main and embodiment of risk culture establishment which applies
fundamental foundation for the Bank’s success. As such, in daily operational activities on all levels of the Bank’s
Bank embraces risk management as an integral part of the organization, as follows:
Company’s culture and decision-making process. • Create consistent role models (Tone from the Top)
which set forth as joint commitment of all senior
Risk management culture is defined as awareness, general management to drive the organization’s risk culture
understanding, attitudes and behavior of all employees development and to ensure that risks are managed
towards risk. A strong risk culture fosters sound risk in accordance with the Bank’s business strategy.
taking, strengthen effective risk management, and ensures • Educational process for all personnel in the
excessive risk taking activity has been assessed, escalated, organization, success measure of the educational
and addressed in a timely manner. process will be reflected in risk management-based
performance measurement (Key Performance
Several significant elements that form CIMB Niaga’s risk Indicator/KPI), in which risk related behaviors
management culture includes: will consider for performance evaluation and
• Create consistent role models and strategy compensation.
(Leadership and Strategy) that is aligned with the • Periodic training and activities that aim to enhance
implementation of work ethics and values, as well as risk culture and fraud awareness, among others
communicating the Bank’s mission and objectives in through Anti-Fraud Socialization and Operational
a synergic and sustainable manner. Awareness Training.
• Human Resources and Communication (People • Consistent communications regarding the importance
and Communication) with focus on enhancing of risk management throughout the Bank’s three
competencies through equal information and lines of defense.
knowledge sharing. • Establish a structured and standardized approach
• Accountability and Reinforcement, tasks assignments via documented working procedures as a guideline
and responsibilities that come with appropriate for daily operational activities and decision-making
performance measurement, including rewards for process.
good performance.
• Risk Management and Infrastructure, to build an To strengthen risk culture, risk management is embodied
effective risk management and control processes to in the three lines of defense philosophy, whereby risks
support the Bank’s strategy. are initially managed at the point of risk taking activities to
ensure clear accountability of risk across the organization
and Risk Management Unit as an enabler of business unit.

THREE LINES OF DEFENSE

CIMB Niaga implements risk management process that involves all levels in the organization from the Board of Directors,
Senior Management to all employees at the Bank in accordance with three lines of defense concept.
1st Line Of Defense 2nd Line Of Defense 3rd Line Of Defense
• First line of defense, who is • Provides risk oversight function and • Independent party which
responsible to manage risk at ensure that risks/ potential risks are responsible to evaluate/provide
the forefront of daily operations, well managed. independent assurance of
assess the inherent risks and • Establish standards and policies to risk management framework
ensure the implementation of risk manage risk, including its application implementation and effectiveness
management and compliance of all to management to ensure that the of risk management process
policies and procedures. Bank always conducts business through periodic reporting to the
activities and operates in accordance Board of Directors.
• Identifying, measuring, monitoring, with the appetites and regulations of
controlling and reporting risk, the regulator.
as well as taking the necessary • Provides constructive challenges and
actions to mitigate risks and ensure validation on risks/potential risks to
effective control. ensure robust implementation of
risk management.
• Provides advisory role to the 1st Line
of Defense.
Risk Management Unit, Compliance Unit,

All Business Units/Support Unit Anti Money Laundering and Audit Unit
Anti-Fraud Unit
Risk Management Framework and

Risk Taking Units (supported by RCU) Risk Assurance
Controlling
GOVERNANCE The Board of Directors is assisted by various risk

The Bank establishes an organization sructure committees and control functions to ensure effective
corresponding to its business’ objective, policy, scale, implementation of the EWRM framework. Risk
and complexity as well as inherent risks of the Bank management process is evaluated by Risk Management
to support of effective risk management. The Bank’s Committee (RMC), which is responsible for overall
governance structure also has to be able to strengthen implementation of the risk management framework.
the four eyes principle and transparency in the entire This Committee is chaired by the President Director and
risk management process keeping them aligned with consists of the entire Board of Directors and several
consistent EWRM implementation across the board. executive officers. The RMC reports directly to the Board
of Directors and indirectly to the Board of Commissioners
The Board of Directors is responsible for the Bank’s through the Risk Oversight Committee (KIPER).
risk management activities, strategic direction, risk
appetite and relevant framework for the Bank. In In addition to RMC, other executive committees
relation to the implementation of good governance, the responsible to supervise and discuss risk management
Board of Directors provides strong leadership example implementation in a more in-depth manner are the Asset
and strategy on applying ethics and values as well as Liability Committee (ALCO), which manages liquidity and
communicates the Bank’s vision and mission in a synergic interest rates risks in the Banking book; the Operational
and sustainable manner. Risk Committee (ORC), which manages operational risk;
and the Credit Policy Committee (CPC) that discusses
policies related to credit.

Board of Directors Board of Commissioners
Executive Committee:
Audit Committee
RMC ALCO ITSC CPC Risk Oversight

Committee
Special Committee:
Nomination and
ORC ECC NPLCC AQC CXC Nomination and

Executive Committee: Special Committee:

RMC : Risk Management Committee ORC : Operational Risk Committee
ALCO : Assets and Liabilities Committee ECC : Excecutive Credit Committee
ITSC : IT Streering Committee NPLCC : NPL Credit Committee
CPC : Credit Policy Committee AQC : Asset Quality Committee
CXC : Customer Experience Committee
RISK APPETITE The objective is to enable the Bank to maximize its

Risk Appetite is one of the main components of EWRM, long-term performance and to ensure asset integrity,
defined as the type and amount of risk that the Bank’s earnings quality as well as to protect the franchise value
management is willing to accept in pursuit of its strategic of the Bank. In each dimension, risk limits are defined as
and business objectives. Risk appetite is dynamic and set specific limits that consider capital, asset quality, liquidity,
in conjunction with the Bank’s business priority changes, and funding capacity pursuant to regulatory provisions.
risk management capability and external condition.
RAS employs the Red-Amber-Green (RAG) metrics/
Risk appetite is set in line with the Bank’s annual business parameters and thresholds that are reviewed
plan, to ensure it is appropriately align with the strategy, periodically every year. In monthly RAS reporting to the
business growth aspiration, capital and liquidity position, Board of Directors and Board of Commissioners, the
business operating plans as well as, with the strength status of each indicator is highlighted to Management
and capability of the Bank’s risk management capacity in accordance with the RAG parameters, which will allow
that covers the system, process and human resources. Management to take corrective measures, if needed, in a
timely manner.
The Risk Appetite statement (RAS) consists of 4 (four)
measurement dimensions, namely:
a. Solvency and capital
b. Diversification and earnings volatility
c. Liquidity
d. Franchise

RISK MANAGEMENT PROCESS

Risk management process is carried out as part of daily activities to ensure that risks can be considered, evaluated and
responded to in a timely and appropriate manner. Through this process, inherent risks in the Bank’s activities can be
managed properly to provide maximum sustainable value added to all Bank activities. The risk management process at
CIMB Niaga includes:
Risk is a crucial part to business planning process, including risk posture setting, and new products and activities planning. This is
performed helps to ensure that the Bank operates within the risk appetite approved by the Board of Commisioners.
Business
Planning
• Risks need to be clearly defined, proactively identified and assessed on an on going and forward looking basis.
• The risk identification process is conducted by analyzing the risk characteristics of each of the Bank’s products and business activities.
• 2 (two) approaches to identify risks are: risk profile assessment (standard methodology prescribed by regulators) as well as Risk
Assessment and Risk & Control Self-Assessment (Bank’s internal processes).
• Risk identification is conducted by considering both financial and non-financial impacts, such as reputation and compliance to
regulation.
Risk • There are 9 (nine) types of major risk that are managed by the Bank, namely credit, market, liquidity, operational, strategic, compliance,
legal, reputation and interest rate risk in banking book.
Identification
• Bank also manages intra-group transaction, capital, rate of return and investment risk.
and • In addition to the types of risk in accordance with OJK regulation, the Bank also identifies other risks such as sustainability risk, model
Assessment risk, and Sharia Non-Compliance (SNC) risk.
• Risk measurement is performed among others through risk scoring, sensitivity analysis, stress testing and calculation of capital
requirement using methodology based on best practices and guidelines from the Regulator.
• The Bank regularly reviews the assumptions, data sources and the procedures used in risk measurement.
• The Bank also improves risk measurement systems when faced with changes in business lines, products, transactions and risk
factors that are material.
Risk
Measurement
• Controls and limits are used to manage risk exposures to remain within the Bank’s risk appetite.
• Controls and limits are monitored and reviewed periodically to be aligned with business requirements, market conditions, and
changes in regulations.
• Improvements are carried out to mitigate risk. Factors that are considered to determine options for risk mitigation include, among
others: cost and benefit factors, value and perception of stakeholders, and the considerations of whether the risk mitigation option
Risk taken could potentially lead to a new risk.
Management • The Bank relies on internal control system as part of the oversight mechanism. This internal control system is evaluated and
and Control assessed by the Internal Audit Unit (SKAI) and/or other external parties.
• Reports have to be submitted on time, accurately and easily understood to ensure that risk exposures, either portfolio-wise or
individually, are in line with the Bank’s risk appetite.
• Outputs can be used to analyse subsequent risk management strategies.
• The process is supported by an adequate reporting system that covers at minimum reporting and information regarding the
following:
a. Total risk exposure, comprising of exposure of every risk and of every activity.
Monitoring b. Compliance towards policies and procedures and limits setting.
and Reporting c. The outcome of risk management implementation compared with the targets and objectives.

The risk management process is conducted by Risk Management Unit (SKMR) that is independent to the business unit.
SKMR is responsible for preparing a comprehensive risk management process to identify, measure, monitor and control
risks, as well as to deliver reports on the risk profile/ levels and establish an internal control system.
President Director
Risk Management Director
Secretary
Non-Retail Credit Market Risk

Non-Retail Credit Wholesale Banking Commercial Banking Operational Risk Risk Analytics & Retail Credit Risk
Policy and Assurance Management & Model ALM Risk Credit Related RCU
Administration Credit and SME Credit Management Infrastructure Management
Testing Validation
Credit CAT ORM

Credit Administration Credit (COMBA - Medium (Corporate & (BB, Credit, AQ, Credit Modeling Policy Governance Risk Middle Office Liquidity Risk Credit Related RCU
(COBA - Bankwide) (Wholesale Banking 1) Corporate 1) Commercial) Treasury, TB)
ORM
Credit Portfolio Mgt Traded Credit
Credit Administration Credit CAT (Consumer Finance, Integrated Risk & Interest Rate Risk
(COMBA - Medium (Unsecured & Risk & Business
(Comba - West) (Wholesale Banking 2) (MSME) Subsidiaries & Basel PMO Banking Book
Corporate 2) Mortgage) Management)
Assurance)
ORM
Credit
Credit Administration Credit Credit Policy Non (Consumer Non Rating System Retail Credit Risk Risk Solution &
(COMBA - Medium Model Validation
(SME- West) (Wholesale Banking 3) Retail Lending, Reputational Implementation Analytics Analytics
Enterprise Jakarta) Risk Mgt)
Credit ORM
Credit Checking & Credit (COMBA - Medium Credit Policy (Framework, RETSO
Data Management
Collateral Appraisal (Wholesale Banking 4) Enterprise Out (Treasury) Governance & (Monitoring)
Region) Infrastructure)
ORM
Credit Administration RETSO (Valuation
Credit Secretariat Credit Credit Policy Specialist (Ops, Support Wholesole Credit
Strategy Management & Developer
DA & SOP (SME) (Trade Finance) Function, Sharia & Portfolio Management
& Development Management)
Technology Risk Mgt)
ORM
Credit Administration Retail Credit Risk (SME
(Liability Mgt & Loan
(SME - East) & Auto)
Operational Policy)
ORM
Credit Administration (Business Intelligence
(Comba - East) & Analytics)
Credit Inspection &

Valuation
(SME)
The Risk Management Unit (SKMR) is responsible to 2. Engagement CoE

the Risk Management Director. SKMR organizational The main task of the Engagement CoE is as a business
structure consists of several Centers of Excellence unit’s partner through dialogue, understanding the
(CoE), which are teams with different risk specializations business and encouraging business units to manage
responsible for the active oversight of risk management risk effectively as the first line of defense.
implementation of various business lines and activities of
the Bank. There are 2 (two) categories of CoE: SKMR also responsible for coordination and conduct
socialisation on all risk management processes in the
1. Facilitation CoE Bank and other financial entities within the financial
The main tasks of the facilitation CoE includes conglomerates. SKMR organizational structure clearly
developing a framework, validating models segregate the control and implementation function unit
and building risk management tools, as well as to units that are responsible for policy set up and risk
implementing the infrastructure that supports the monitoring.
risk measurement and monitoring process.
In performing internal control function, SKMR also
cooperates with other units, such as Compliance Unit,
Anti Money Laundering Unit, Anti Fraud Management
Unit and Syariah Advisory.

RISK MANAGEMENT INFRASTRUCTURE

An effective risk management infrastructure is essential for effective EWRM implementation. The risk management
infrastructure that supports the risk management process consists of 3 (three) components, namely Policies,
Methodologies and Procedures; Human Resources (HR); and Technology and Data.
POLICIES, PROCEDURES AND METHODOLOGIES

CIMB Niaga ensures the adequacy of policies, procedures and methodologies as the basis for a unified view across all
units in the organization, including standardized risk definitions and similar risk language. Adequate risk management
policies in accordance with the type of risk serve as the basis for the Bank to manage risk. The methodology provides
specific instruction that support policy implementation. The procedure provides more detailed guidelines to help
implement policies in daily risk-taking activities.
Taxonomy of Policies and Procedures
Contains corporate identity, corporate

governance structure, and internal control
Level 1 framework, manual framework and business and
strategic planning.
Bank’s
Principle Policy
Governs acceptance criteria, limits and principles,

guidance of matters that are allow and not allow
Level 2 related to products & activities and delegation of
authority.
Product Policy
and Activities
Provides details operating procedures (from

beginning to end) for product/specific activity,
Level 3 control mechanisms, person in charge and
agreed service standards.
Standard
Operating
Procedures
(SOP)
Complete and detailed written guidelines
on specific products/ activities; possibly a
Level 4 consolidation of approved policies or SOPs into
one document which is intended to facilitate the
Operational implementation of an activity.
Instructions

HUMAN RESOURCES • The learning process at the Bank is carried out in a fun
EWRM framework will function effectively when way through the gamification quiz (Learning on the
supported by personnel with suitable capabilities and Go) that is mandatory for all CIMB Niaga employees.
expertise. The Bank develops employee recruitment More details related to trainings taken by the Risk
systems, employee development and training, and Management Directorate in 2020 are presented in
remuneration package that encourage employees to the Company Profile section.
manage risk better. Assignments and responsibilities,
accompanied by sound performance measurement and The Bank also provides job rotation opportunities for
compensation, aligned to the strategic plan and risk employees, aims to enrich the exposures of employees
appetite of the Bank. and broadening their knowledge of other fields/areas.
CIMB Niaga establishes clear Human resources The Bank also adopts Risk-Based Performance
qualifications for each level related to risk management measurement through Risk-Adjusted Return on Capital
implementation and assigns competent officers and (RAROC). RAROC makes a comparative performance
staffs in Risk Management Unit, in accordance with the of different business units by providing a consistent
size and complexity of the Bank’s business. To support view on profitability among business units. This risk-
this, the Bank continually strives to develop the quality based performance measurement aims to integrate
of human resources and facilitate communication performance measurement process by taking into
that focuses on increasing competencies with an even consideration various aspects of strategic plan, risk, and
distribution of information and knowledge. capital management.
CIMB Niaga provides an opportunity for employees to TECHNOLOGY AND DATA

improve their risk management knowledge by, among Technology and Data is imperative for the Bank in
others: performing risk management and efficient decision
• Lunch-and-learn sessions, whereby each unit in making. Technology and data are part of the
the SKMR shares knowledge on the methodology, management information system that must be owned
process or projects that they are involved in, with and developed in accordance with the business needs
other units in the SKMR, as well as with units outside of the Bank. In order to manage risk effectively and
of SKMR such as the Finance & SPAPM Directorate, efficiently, information systems are required as a tool to
Internal Audit Unit, Credit Directorate and Business make accurate and responsible decision to manage risk
Unit. effectively and efficiently.
• Employees also take part in internal and external
training (including mandatory training required by CIMB Niaga’s risk management information system
regulators) which is compatible with their respective ensures:
working areas. 1. Accurate, informative and timely measurement of
• Employees are encouraged to routinely conduct risk exposures, both composite/ integrated risk
BLS (Business Learning Session), where employees exposure or exposures on specific risk types that is
who have just participated in training will share their inherent in the business activities of the Bank, as well
knowledge with colleagues. as risk exposures for each type of Bank’s functional
• To prepare for the 4.0 revolution, the Bank provides activities;
training on data and digitalization (CADS: Center of 2. Compliance to risk management implementation
Applied Data Science) to for qualified SKMR staffs. To in accordance with the policies, procedures and the
maintain staff engagement, the Bank has launched established risk limitations;
an internal application for collaboration among 3. The outcome of risk management implementation
employees. compared to the targets set by the Bank by taking
into consideration the risk management policies and
implementation strategy.

The Information systems must be able to produce reports that will be used for ongoing risk monitoring to detect and
resolve deviations from policies and procedures more promptly to reduce the potential occurrence of risk events.
In the past several years, CIMB Niaga focused on developing the risk infrastructures, among others:
Name of System Objective

ALMIRA (ALM Risk Management System) To manage and measure liquidity risk and interest rate risk in the banking book on
business activityies related to the asset and liability management.
CIRS (CIMB Integrated Reporting System) The system used to support regulatory reporting process, mainly pertaining to integrated
risk management implementation with subsidiaries as well as affiliated companies.
Credit Limit System (CLS) To control and monitor credit disbursement to Commercial Banking and Corporate
Banking debtors in line with the limits set by the Bank and the Regulator (Legal Lending
Limit).
Credit Risk Decision Engine (CRDE) An integrated application that processes credit applications to increase the efficiency
Loan Origination System (LOS) of credit approval while also maintaining the quality of the data consistently and
continuously.
Credit Risk Parameter System (CRIPA-S) Application for Bank’s data management through data collection, assuring data integrity,
storing, maintaining and safeguarding the data in order to fulfill the stakeholders
information demand, including among others calculating capital adequacy in line with the
Basel framework and implementing the credit strategy for all business segments.
CRISTA (Credit Risk Standardised Approach) Pursuant to the Basel implementation framework by OJK, the Bank has developed a
system to calculate credit risk and RWA reporting for credit risk for on and off balance
sheet assets, through system called CRISTA (Credit Risk Standardised Approach), in
which the scope of data, parameter and methodology applied have complied with the
requirement as set forth in the OJK Regulation and Circular Letter.
Internal Credit Rating System (ICRES) To identify individual risk level of the debtor’s through credit rating process for the non-
retail segment (Commercial Banking and Corporate Banking).
Market Risk-Weighted Asset System (M@RS) The system that is used to calculate market risk weighted asset. This system has been
developed based on the requirement of Basel II standard model calculation for market
risk in fulfillment of the interest rate’s general risk with the “duration method” approach,
and the calculation for option risk with the scenario approach.
RAROC (Risk Adjusted Return On Capital) To measure the profitability of a business by considering its risk and capital consumption
Calculator dan KPI Engine in which the RAROC calculation is applied at front-end (pre-deal checking) and at the
back-end, to report the actual results.
SHARP (Self Assessment Review Program) A web based system for operational risk management to help the working units and
Management to oversee bank-wide operational risk comprehensively.

ICAAP (INTERNAL CAPITAL

ADEQUACY ASSESSMENT PROCESS)
Pursuant to OJK Regulation No. 34/POJK.03/2016 on at CIMB Niaga is conducted by following best practices,
Minimum Capital Requirement for Commercial Banks, regulatory requirements and internal policies to assess,
Bank is required to have a process to ensure the level fulfill, monitor and maintain a sufficient level of capital in
of capital adequacy in accordance with risk profile and accordance with the risk profile.
strategy to maintain capital level, known as ICAAP (Internal
Capital Adequacy Assessment Process). This process also ICAAP implementation at the Bank also shows strong
involves dialogues with bank supervisors to achieve similar corelations between Bank’s strategy, assessment of capital
perceptions regarding to bank’s capital adequacy. adequacy, and risk profiles. It helps the Bank to ensure that
financial targets can be met and that shareholder value
ICAAP is an internal process to ensure that the Bank has is optimized. ICAAP implementation also considers the
adequate capital resources in the long run to support linkage between the Bank’s business strategy, business
all material risks. In ICAAP, bank’s capital adequacy is plan, and macro-economic conditions.
measured by taking into consideration Pillar-1 risks and
other/ non Pillar-1 risks, hence risk identification process ICAAP is jointly performed by SKMR and the Directorate of
would be more comprehensive. ICAAP implementation Finance & SPAPM.
The Bank’s ICAAP Process is depicted below:
1 Strategy 2 Risk Posture
Capital
6 Management &
Training
3 Annual Budget
5 Stress Test 4 Risk Appetite
As part of the process in setting the Bank’s strategy, the Board of Commissioners determines risk posture as a guidedance for
business units on the risk level to be taken, by considering external and internal conditions as well as the Bank’s capabilities
and limitations. The Risk Posture is a qualitative direction at the beginning of the annual business planning process on the risk
level/ posture to be taken in the coming year. In line with EWRM framework, whereby risk become the main consideration
for any business planning process, risk posture is a process that bridges risk level that Bank is willing to take with the strategy
formulation as reflected in the annual budgeting process.
Furthermore, CIMB Niaga will determine Risk Appetite that is formulated in accordance with the approved strategy. Risk
Appetite is monitored periodically by using the Red Amber Green (RAG) indicator, which serves to provide early warning on
the achievement of Bank’s strategy.

CIMB Niaga conducts stress testing towards annual budget Several actions taken by CIMB Niaga to monitor its capital
to measure and evaluate Bank’s capital resilience, liquidity adequacy are as follows:
and Bank’s capability to absorb losses in crisis situations • Establish a capital trigger ratio or a minimum limit
that are extreme but plausible. Stress testing is conducted of thcapital adequacy ratio, whereby the Bank starts
for main risk types, namely credit risk (for non retail and activating an emergency plan related to capital (capital
retail segment), market risk (which includes interest rate contingency plan).
and exchange rate risk) and liquidity risk. Bank performs • Establish annual internal capital targets that take into
integrated stress testing 2 times in one year. account minimum capital requirements, business
growth plans, corporate actions, significant events and
The results of this stress test will then become one of capital buffers to ensure that Bank capital is at a safe and
the considerations so that the Bank can conduct a better optimal level.
management and capital planning process, which aims • Conduct rolling capital projection and comparisons with
to maintain an efficient capital structure. The capital actual capital on a regular basis for short, medium and
management process includes capital planning, capital long term to be able to oversee capital holistically and
target setting, capital raising, capital buffer management plan for a suitable capital strategy.
and contingency capital planning.
CIMB Niaga has implemented a risk-based performance
Bank’s capital is measured and monitored continuously measurement (RAROC) for performance evaluation, where
to ensure that the Bank’s capital is at an adequate level, the profitability of each business unit is measured by
both to meet regulatory requirements and to support risk- considering the amount of risks taken and capital utilized.
taking activities in daily business processes, by taking into In 2021, the Bank will still focus on refining the methodology
account the Bank’s business growth and expansion plans used for risk-based performance measurement.
and also the capital buffer to accommodate unexpected
loss. Calculation of capital adequacy related to Pillar-1 risks
(credit, market and operational risk) is based on regulatory
requirements.
CIMB Niaga conducts Annual Risk Assessment which is also

one of the ICAAP components. Annual Risk Assessment
is a process of identifying non quantifiable risks outside
Pillar-1, that is performed by both business and support
units. Business units and support units are required to
conduct risk assessments every year by submitting self-
assessment of inherent risks and controls effectiveness that
are embedded on their significant business activities. The
purpose of Annual Risk Assessment is to measure capital
requirements from non quantifiable risks outside of Pillar 1.

SHARIA BUSINESS UNIT (SBU)

RISK MANAGEMENT
Sharia Business Unit (UUS) is performed by implementing In terms of managing risks that relates with compliance
the Dual Banking Leverage Model (DBLM) concept, to the Sharia principles, the Sharia Unit has the Sharia
including risk management area. Bank builds the risk Supervisory Board (DPS), which grants approval for
management infrastructure and implements governance compliance with sharia principles on policies, procedures,
policies, which in line with DBLM concept and in accordance systems, products and contracts as well as conducts
with the prevailing Sharia principles. In accordance with checks through sampling on Sharia banking transactions.
the DBLM principles, the Risk Management Unit (SKMR)
is also responsible for UUS. Risk management policy for For compliance and approval towards Sharia Principles,
UUS is prepared as part of the Bank’s risk management the DPS is supported by organizational tools to conduct its
policy. Meanwhile, Sharia risk management procedures operational functions, namely the Syariah Advisory Group,
are prepared according to the necessities and operational which main task is to provide input to DPS in meeting sharia
complexities of the UUS. principles on policies, procedures, products, systems and
contracts.
Based on OJK Regulation No.65/POJK.03/2016 dated
23 December 2016 on the Implementation of Risk Supervision is performed by Syariah Risk Control Unit (RCU)
Management for Sharia Commercial Banks and Sharia through sampling tests on Sharia banking transactions,
Business Unit. The process to identify and measure risks which main responsibility is to assist DPS in reviewing
is carried out using a methodology that is suitable for the compliance to Sharia principle in transactions and product
concept of Islamic banking including through measuring implementation as well as preparing DPS Supervisory
risk profile level of the UUS, that is performed periodically Report to regulator.
and submitted to (OJK), covering 10 risks types namely
financing risk, market risk, liquidity risk, operational risk, Sharia RCU must also ensure that all UUS activities have
legal risk, strategic risk, reputation risk and compliance complied with all relevant regulations and that operational
risk, and 2 (two) specific risks that apply to Sharia banking, risks have been managed properly. As part of risk
which are rate of return risk and investment risk. awareness culture implamentation, active coordination
is conducted with the Compliance Directorate, the Risk
The process of identifying and measuring risk is conducted Management Directorate, the Anti-Fraud Management
by the Risk Management Committee at the Board of Unit, units related to Policies and Procedures and other
Directors level, where the Director in charge of the Sharia RCU units
Unit is also a member of the committee. The results of
this risk monitoring are also reported to the Board of Pertaining to risk management implementation at UUS,
Commissioners through the Risk Oversight Committee SKMR also presents the UUS risk profile at DPS meetings.
(KIPER) and the Sharia Supervisory Board (DPS). In addition, Bank also strives to improve the understanding
of Sharia banking concept to all Bank employees through
continuous socialization and training programs.

BANK AND CONSOLIDATED RISK PROFILE &

SOUNDNESS RATING
Based on OJK Regulation No. 18/POJK.03/2016 on the Through risk profile, the Bank can manage risks
Implementation of Risk Management for Commercial and take appropriate actions, which are carried out
Banks and OJK Regulation No. 38/POJK.03/2017 on the comprehensively including all Subsidiary Entities in
Implementation of Consolidated Risk Management for accordance with their respective lines of businesses.
Banks that Control a Subsidiary Entity, Bank undertakes
self assessments of risk profiles that are reported on Based on OJK Regulation No. 4/POJK.03/2016 on the
quarterly basis to the Regulator. Risk profile assessment Assessment of Commercial Bank Soundness Rating, CIMB
process covers the primary risks that comprise of credit/ Niaga also conducts an assessment of Bank Soundness
financing risk, market risk, liquidity risk, operational risk, Level that comprises of 4 (four) factors, namely Risk
legal risk, reputational risk, strategic risk, compliance risk, Profile, Good Corporate Governance (GCG), Profitability
and sharia specific risks, namely rate-of-return risk and (Earnings) and Capital.
investment risk.
The Bank’s Soundness Rating (Bank-only and
The assessment of risk profile is based on regulatory consolidation) based on self-assessment in 2020 had
requirement, whereby the parameters used to measure a composite rating of 2 (Sound). It reflects the Bank’s
risk is not only using historical data but also forward overall sound condition, which demonstrates resilience
looking, by considering the Bank’s business strategy towards significant negative effect from changes in
and macro-economic conditions. CIMB Niaga’s self business conditions and other external factors.
assessment result on risk profile in 2020 was at level 2
(Low to Moderate).

INTEGRATED
RISK MANAGEMENT
As part of OJK Regulation No. 17/POJK.03/2014 implementation, the Controlling Shareholder (PSP) has appointed CIMB
Niaga as the Principal Entity to coordinate the assessment of management processes of each Financial Institutions (FI)
which are part of CIMB Indonesia Financial Conglomerate (KK). The implementation of integrated/ consolidated risk
management across CIMB Indonesia Financial Conglomerates, Bank also considers business characteristics of each
financial institutions.
As a guidance for risk management implementation within the Financial Conglomerates, Bank has an Integrated Risk
Management Procedure which regulates the principles that must be followed in the integrated risk reporting process
flow, delegation of authority, limits setting and risk exposures monitoring in the context of integrated risk management
implementation.
In 2020, there was no change in the membership of CIMB Indonesia Financial Conglomerate from previous year.
Financial Conglomerate
Main Entity Public
Subsidiaries CIMB Group Sdn Bhd
92.50%*
7.50%
99.93% 94.78%
*)
Including PT Commerce Kapital 1.02%.
Integrated Risk Management process is implemented among others through mentoring and alignment of risk
management practices in terms of risk governance, risk management policies and procedures, risk management
reporting, and enhancement of the risk awareness culture. In an integrated manner, CIMB Indonesia Financial
Conglomerate manages 9 (nine) types of risks, which are credit risk, market risk, liquidity risk, operational risk, strategic
risk, reputation risk, legal risk, compliance risk and intragroup transaction risk. For the 9 (nine) types of risks, the CIMB
Indonesia Financial Conglomerates also conducts self-assessment on the integrated risk profile that is reported to
OJK every semester. Self assessment result derived from the aggregation of each entity’s risk profile assessment.
Submission of supporting data and calculation of integrated risk profile aggregation is conducted through the web-
based application, CIMB Integrated Reporting System (CIRS), which is linked to all members of the CIMB Indonesia
Financial Conglomerate. Through this system, it is expected that manual process and potential of human errors can be
reduced, while also improving the accuracy of data, information, and the timelines of the reports.

Bank has formed the Integrated Risk Management Committee (IRMC) as a forum to discuss matters related to risk
management on each entity member of the Financial Conglomerate to ensure that integrated risk management can
be conducted effectively and comprehensively. Monitoring and evaluation process of risk exposures from the each
FIs is also carried out through IRMC and reported to Principal Entity, through the Risk Management Committee
(RMC) of the Principal Entity. IRMC comprises of Directors who oversee the risk management function on each entity
member in Financial Conglomerate, and risk senior management in the Principal Entity, with specialization on certain
risk disciplines. In this monitoring and evaluation process, the Committee discusses and reports on the main focus of
Financial Conglomerate member’s risk exposures to improve on the risk management practices in the future.

BASEL IMPLEMENTATION
CIMB Niaga is committed to adopt best practices in Further, as part of the Basel III implementation, CIMB
risk management in line with the Basel regulation by Niaga has submitted Liquidity Coverage Ratio (LCR) and
strengthening its risk management function fundamentally Net Stable Funding Ratio (NSFR) report. OJK required
and continuously. The initiatif on the Basel II and III projects the Bank to report LCR monthly, however internally the
that have been completed in 2018 have become part of the Bank prepared LCR report on daily basis. This has been
Bank’s comprehensive and integrated infrastructure for risk done by CIMB Niaga since February 2017, in which the
management. daily calculation of LCR is done through an automation
system, considering that the LCR ratio requires more
CIMB Niaga has built a rating/scoring model to manage the detail identification of both the liquid asset and deposit
loan portfolio that includes Corporate, Specialized Lending, outflow. A more detailed description on the LCR and
Credit Cards, Mortgages, Personal Loans, Auto Loans and NSFR ratios is presented in the liquidity risk section.
Retail SMEs asset class.
Within the framework and implementation of Basel II and
Development through broadening the function of systems III, the risk management system of CIMB Niaga has been
infrastructure of CRIPAS (Credit Risk Parameter System Risk recognized and has earned an Award at the international
Weighted Assets) RWA with the aims to: forum of the Asian Banker:
1. Implementing Internal Credit Model: 1. CRIPAS RWA won the category of Credit Risk Technology
To measure capital requirement, portfolio Implementation of the Year at the 2019 Asian Banker
management, and risk-based performance (RAROC) Risk Management Awards held by the Asian Banker in
at the level of Bank, business segment, and debtor. Bangkok, May 29-31 2019 for the category of The Credit
Risk Technology Implementation of the Year. CRIPAS
2. Data integration on credit risk from the sub-source RWA is judged to be the best system to manage the
system by mapping and integrating all required data parameters of credit risk, and calculation of ATMR credit
(on and off balance sheet) from 13 different system risk within the banking industry in Asia.
sources.
2. ALMIRA (ALM Risk Integrated and Analytics Solutions)
3. Credit Risk Repository Centralization earned an Award at the The Asian Banker Risk
Enabling an efficient process to provide data for the Management Awards held by the Asian Banker in Kuala
implementation of the Internal Credit Risk Model Lumpur on 24 September 2020 for the category of The
to generate Probability of Default (PD), Loss Given Liquidity Risk Technology Implementation of the Year.
Default (LGD) and Exposure At Default (EaD) in the ALMIRA is judged to be the best system to manage
framework of RWA calculation for Credit Risk scoring liquidity risk within the banking industry in Asia.
(A dan B Score together with the strategy for account
management).
4. RWA Calculation in line with the Internal Rating Based

(IRB) approach
Calculating and reporting RWA based on the Internal
Credit Risk Model, executed automatically from end-
to-end in line with SLA, from Data Integration and
Model Implementation to Calculating and Reporting
of RWA.

RECOVERY PLAN DISCLOSURE
1. Objectives of the Recovery Plan 2. Framework for Recovery Plan

CIMB Niaga has established a Recovery Plan with the
objective to achieve and maintain stability in the financial a. General Business Review
system in line with Government of Indonesia’s mission to General business review through the identification
prevent and manage a systemic financial crisis (Republic of business lines and critical functions. The internal
of Indonesia Law Number 9 of 2016) in support of the evaluation process is carried out to establish
national economy. business lines that are classified as core or non-core
as well as critical or non-critical.
The Recovery Plan represents the Bank’s commitment
to: CIMB Niaga carried out an internal assessment
a. Suport solid financial system stability in facing the to determine business lines that are classified as
threat of a financial crisis due to the pressures on critical or non-critical in order to identify the roles
various financial conditions. of each business line in the banking industry so that
b. Prevent and manage Systemically Important Bank the Bank can determine what business lines to keep
issue, in which Bank has determined the action during a financial crisis.
plans to be taken during a financial crisis that may
endanger Bank’s sustainability. b. Identification of the Bank’s financial and operational
interdependence with the parent company, affiliated
Recovery Plan is made in alignment with the Bank’s companies and subsidiaries, and systems that are
condition and is pursuant to OJK Regulation No. 14/ considered critical in conducting its business, and
POJK.03/2017 on the Recovery Plan for Systemic how this interdependence will be affected in times
Banks, as follows: of a financial crisis.
a. General business review through the identification
of business lines and critical functions. c. Stress Scenarios Identification (Reverse Stress) and
b. Identification of the Bank’s financial and Stress Testing
operational interdependence with the parent CIMB Niaga conducts reverse stress testing to
company, affiliated companies and subsidiaries, identify stress scenarios/conditions of financial
and systems that are considered critical in stress, caused by market-wide factor or idiosyncratic,
conducting its business. that can result in business failure. The market-wide
c. Identification of financial stress condition that financial stress scenario is when pressure arises
may be faced by the Bank, both market wide and from macroeconomic factors and are felt by the
idiosyncratic scenarios. market as well as by other participant in different
d. Conduct stress testing against financial conditions market. Whereas the idiosyncratic scenario is when
scenario that have been identified and may occur, the pressure arises from one specific event that
in order to test the resilience of the Bank in befell CIMB Niaga.
financial stress conditions.
e. Determination of financial indicators that serve as d. Establishment of Indicator of Recovery Plan
the limits of the Recovery Plan activation. In determining the point of activation for the
f. Decision of recovery plans to be executed in the Recovery Plan, CIMB Niaga has established
management of the financial crisis, as outlined in indicators in the form of financial ratios comprising
the recovery options. of four (4) classifications as follows:
g. Framework and governance arrangement in 1) Capital;
the Recovery Plan management, comprising 2) Liquidity;
of the maintenance, execution, updating and 3) Profitability; and
communication processes of the Recovery Plan. 4) Asset Quality.

e. Recovery Option g. Communication

CIMB Niaga has determined the recovery option The communication protocols for the Recovery
in order to maintain Bank’s business continuity in Plan will be aligned with the Communication and
facing l financial stress condition. These recovery Disclosure Plan of the Bank, in which the Bank
options will be executed whenever indicators of has formed a Crisis Communication Management
the Recovery Plan are breached, although several Team (CCMT), which is responsible for internal and
actions will have been taken even before the external communications (to various stakeholders)
Recovery Plan is activated as a prevention measure. throughout the recovery phase. CCMT is also
The recovery options have been aligned with the responsible for determining the communication
Bank’s condition and determined based on the strategy as well as directing the flow of
credibility and feasibility of each option. communication.
f. Governance 3. Governance of the Recovery Plan

CIMB Niaga has established the Recovery Plan Every month, RMC receives a report on the
governance in which the Board of Directors monitoring of indicators leading the activation
undertakes the oversight of the Recovery Plan and of the Recovery Plan, comprising of four aspects,
the activation of the Recovery Plan throughout which are Capital, Liquidity, Profitability and Asset
the recovery period, assisted by Committees such Quality. In the management of the Recovery Plan, the
as the Crisis Management Committee (CMC) and Board of Directors is also supervised by the Board
Funding Crisis Management Team (FCMT) with of Commissioners. In the event of significant issues
other supporting units. The monitoring of indicators that affect operations and liquidity, the Board of
to the Recovery Plan is carried out monthly and Directors will receive a report from the CMC (Crisis
reported to the Risk Management Committee Management Committee) and FCMT (Funding Crisis
(RMC). The governance framework of the Recovery Management Team), that is subsequently conveyed
Plan has been well documented, including steps to to the Board of Commissioners.
activate the Recovery Plan and the communication
process both internally and externally throughout
the recovery phase.

Document review which involving senior management are conducted periodically by aligning with the latest
conditions of the Bank.
Governance on Monitoring of Recovery Plan Indicator
Board of Directors
Crisis Management Funding Crisis Management

Committee (Operational) Team (Liquidity)
Business and Support Units
Monthly Monitoring and Reporting of Recovery Plan Indicators
Risk Management
Committee
Capital Liquidity Liquidity Asset Quality
4. Submission of the Recovery Plan

CIMB Niaga has submitted the updated Recovery Plan to OJK in 2020 based on OJK Regulation No. 14/POJK.03/2017
on the Recovery Plan for Systemic Bank.

AFM
(ANTI FRAUD MANAGEMENT)
In accordance with OJK Regulation No. 039/POJK.03/2019 ZERO TOLERANCE TO FRAUD
on the Implementation of the Anti-Fraud Strategy for In implementing anti-fraud management program, CIMB
Commercial Banks, CIMB Niaga has established a special Niaga is committed to applying zero tolerance to fraud
Anti-Fraud Management (AFM) Unit to implement its bank- consistently, which means that any fraudster at CIMB
wide anti-fraud strategy. NIaga will be firmly punished, sanctioned, and could
even face criminal prosecution. Implementation of the
In performing its functions, CIMB Niaga has an anti-fraud zero tolerance to fraud principles aims to build a culture
policy which is part of the Bank’s internal control system in of anti-fraud or a work culture that is based on integrity,
establishing compliance culture and creating risk awareness because integrity is a key foundation for the Bank to
of the potential fraud risks and their consequences. This maintain its assets and sustainable growth.
anti-fraud policy is updated every two years or whenever
there is a change in the rules of the regulator. In 2020, ANTI FRAUD STRATEGY
the Bank’s policy on anti-fraud had been aligned with OJK
Regulation No. 039/POJK.03/2019 on the Implementation of
anagemen
the Anti-Fraud Strategy of Commercial Banks. Risk M t
CIMB Niaga requires all members of the Board of

Commissioners, Board of Directors and employees to
act honestly, have high integrity and professionalism,
participate and actively protect and secure Bank assets and
Fraud Fraud
Regulations
customer funds by complying with prevailing internal and Prevention Detection
external regulations. CIMB Niaga aspires to internalize such

Ethical Cultu
attitudes, behaviors and work culture as the actualization of Fraud Detterence
the Bank’s Code of Ethics.
an d
As a form of active oversight by the Board of Commissioners Fraud
ws
re
Response
and Board of Directors on the control of fraud and corruption,
La
CIMB Niaga has signing and implementing an integrity pact
by all Bank’s organization such as Directors, Commisioners,
and employees. The contents of the declaration constitute
the commitments of the Commissioners, Directors and all Governance
employees of CIMB Niaga to always uphold Integrity, Anti-
Fraud, Anti-Corrupotion, and comply with the Code of Ethics
and Employee Conduct of CIMB Niaga. CIMB Niaga’s anti-fraud strategy is built on the basis of
corporate governance, risk management, ethical culture,
In the Meeting of the Board of Commissioners and Board and adherence to laws and regulations. As one of the
of Directors on 9 April 2020, members of the Board of manifestations of good corporate governance, the Bank
Directors and Board of Commissioners of CIMB Niaga have exercises control over fraud risk and endeavor to have
signed the Integrity Pact Declaration, Code of Ethics, and the prevention of fraud the constant purview of all rank-
Commitment to Anti-Corruption. All employees have also and-file of the Bank. To control the risk of fraud, the
signed the Integrity Pact Declaration, Code of Ethics and Bank relies on risk management as an integral part of
Commitment to Anti-Corruption in an attestation made that control. The strengthening of the risk management
through the E-Pass media, which is an Internet Portal of aspect that focuses on fraud control should increase
CIMB Niaga employees. The signings will be repeated each the effectiveness of the Bank’s anti-fraud strategy. The
year. Bank espouses a work culture that is grounded on ethics
as a manifestation of its efforts to control and prevent
fraud. The enforcement of laws and regulations is also
the foundation of other aspects such as Corporate
Governance, Risk Management and Ethical Culture
through which the Bank upholds the rule of law and
statutes of the country.

The anti-fraud strategy for CIMB Niaga is implemented in the form of a fraud control system that is applied by using
tools which elaborate 4 (four) interrelated anti-fraud pillars, namely:
Prevention Detection Investigation Monitoring
PREVENTION CIMB Niaga is aware that the potential of fraud does

One of the program to build an anti-fraud culture and not arise from within the Bank itself, but can come
an awareness of fraud among employees by educating from external parties who are bent to attract the Bank’s
all employees through training programs for both new infrastructures to get into the Bank’s asset accounts or
and existing employees that carried out continuously those of customers. The Bank also continuously reminds
and mandatory. employees that the consequences of fraud do not only
rest with the perpetrators of fraud, but will also fall on
These programs are conducted through in classroom the shoulders of employees who inadvertently open the
learning, E-Learning media, leaders coordination door to fraud by being careless not to follow the policies
meetings, sharing sessions, anti-fraud campaigns, and procedures of their work.
email blast media and internal bulletin media, whereby
employees are constantly reminded of CIMB Niaga’s Another important step needed in the implementation
corporate values and integrity, and to perform their work of anti-fraud strategies is to enhance the supervisory
in accordance with established policies and procedures oversight which is by implementing the Know Your
to mitigate fraud risk. The Anti-Fraud Campaign is an Employee policy, which requires superiors to closely
internal program for employees, which aims to establish monitor their subordinates. This monitoring is not
an attachment to the Bank and grow a sense of belonging restricted only to disciplinary aspects or compliance
among employees who would then rise together to fight to policies and procedures, but also to significant and
fraud. Throughout the pandemic in 2020, the education extraordinary changes in the behaviors and lifestyles
program and anti-fraud campaigns are conducted in of employees. Know Your Employee is also applied in
a virtual setting through the on-line media to keep the the recruiting process of new employees, whereby the
socialization program to employees going. backgrounds of applicants are thoroughly vetted by
both the Bank and independent parties, to ensure that
This socialization contains not limited to the aspects of implementing other principles of Know Your Employee,
control and procedure, but also touches the spiritual and a precautionary procedure is applied in the selection and
religious aspects. To close the series of programs on anti- recruitment process by conducting a background check
fraud awareness, CIMB Niaga arranges a sharing session to ensure that prospective employees come with a good
that invites none other than Prof. Quraish Shihab as the background or track record.
presenter, speaking of “Maintaining a Work Culture of
Integrity in Difficult Times.” The theme aptly describes DETECTION
the need for CIMB Niaga bankers to maintain a work With an effective detection system, the Bank could detect
ethics of honesty and integrity as espoused by the Bank. fraud earlier, so that mitigation measures could be taken
immediately and risks would have been prevented and
not escalate into potentially higher losses for the Bank.
The Bank carries out fraud detection through various
methods, namely:
• Periodic audit checks and surprise audits.
• Surveillance system.

• Approach data analytics. steps are the embodiment of zero tolerance principle
• Monitoring suspicious transactions that are to fraud. To provide investigation process that support
inconsistent with the customer profile as part of the implementation of zero tolerance to fraud, the
Anti Money Laundering and Prevention of Terrorism Bank ensures the availability of reliable, professional,
Financing (APU-PPT). objective and trusted examiners or investigators. Reports
• Establishing transactions limit. on investigations result including its follow-ups are
• Applying the maker – checker, verification and submitted to the Board of Directors and Commissioners,
reconciliation procedures. while the impact from fraud cases is wisely communicated
• Other control mechanisms by utilizing systems or to employees in prevention programs to avoid the
infrastructure attached to products and operational occurrence of fraud cases in the future. In responding
processes of the Bank. to fraud, the Bank has consistently taken firm actions
• Encouraging a speak-up culture through the in the forms of either employment termination (PHK),
Whistleblowing Service (WBS). warning letter (SP), repayment of loss by the perpetrator,
reporting to the OJKas well as reporting of criminal acts.
Specifically related to the whistleblowing services,
CIMB Niaga cooperates with designated third parties MONITORING
or independent and professional consultants, CIMB Niaga conducts monitoring, evaluation and
PT Deloitte Konsultan Indonesia, as the party that follow-up with the aim fraud occurred is followed up
manages the reports and forwards them to CIMB Niaga in accordance with applicable policies both regarding
as well as mediate the communication between CIMB sanctions imposed on perpetrators of fraud, impacts,
Niaga and the whistleblower whenever necessary. By and corrective actions so as not to recur and all of this
involving independent and professional third parties, is reported comprehensively to Management and the
it is expected that employees, customers and business Regulator.
partners (vendors) would be more flexible in reporting
fraud or violation indication which involves CIMB Niaga The Bank reports anti-fraud strategy periodically to
parties/employees due to the confidentiality. It is also the Board of Directors and Board of Commissioners.
expected to achieve the goal of service whistleblowing This is part of oversight that provides guidance on
implementation to immediately detect and act upon fraud incidents and their subsequent improvements. In
potential risks or losses, and to encourage the adoption addition, the Bank also reports the implementation of
of speak up culture where each individual can report anti-fraud strategy to OJK periodically to meet established
violations/irregularities that indicate fraud. regulations.
Based on the definition of fraud in the OJK Regulation Based on the above points, CIMB Niaga has implemented
No. 039/POJK.03/2019 on the Implementation of Anti- a comprehensive and interrelated antifraud strategy
Fraud Strategy of Commercial Banks, CIMB Niaga has between one point and another, rendering the strategy
carried out a socialization campaign of ‘speak-up’ on a effectively. In addition, it has also become evident that the
continuous basis in that employees who do not report implementation of the anti-fraud strategy had involved
an alleged fraud are in fact an accessory to the fraud and everyone at CIMB Niaga from the Commissioners to
will receive the same firm sanctions as those meted out Directors, employees and even drawn the participation of
to the perpetrator of fraud. external parties, both business partners and customers,
especially with and through the implementation of the
INVESTIGATION Whistleblowing Service.
Investigation on indication or suspected fraud is
conducted to track and comprehend the perpetrators,
the modus, as well as the causes and consequences
of fraud in a clear, objective and transparent manner.
This aims to follow up on fraud incidents both related
to sanctions for perpetrators and parties that cause
fraud, and to manage the impact of fraud in terms of
service aspects to customers, the Bank’s reputation, and
compliance with the prevailing regulations. All of these

BASEL II PILAR 3: DISCLOSURE OF CAPITAL,

RISK EXPOSURE AND IMPLEMENTATION
OF BANK RISK MANAGEMENT
GENERAL AFFAIRS
Table 1.a. Disclosure of Quantitative Key metrics on a Consolidated basis
a b c d e
No. Description
T T–1 T–2 T–3 T–4
Available Capital (value)
1 Common Equity Tier 1 38,950,511 37,762,164 37,311,771 37,555,470 42,085,044
2 Capital Tier 1 38,950,511 37,762,164 37,311,771 37,555,470 42,085,044
3 Total Capital 41,041,181 40,106,112 39,712,833 40,136,242 44,722,747
Risk Weighted Asset (Value)
4 Total Risk Weighted Asset (RWA) 187,244,284 192,034,424 198,904,979 207,047,452 208,347,385
Risk Based Capital Ratio in the form of percentage of RWA
5 Common Equity Tier 1 Ratio (%) 20.80% 19.66% 18.76% 18.14% 20.20%
6 Tier 1 Ratio (%) 20.80% 19.66% 18.76% 18.14% 20.20%
7 Total Capital Ratio (%) 21.92% 20.88% 19.97% 19.39% 21.47%
Additonal CET1 that functions as a buffer in the form of percentage of RWA
8 Capital conservation buffer (2.5% dari ATMR) (%) 0.00% 0.00% 0.00% 2.50% 2.50%
9 Countercyclical Buffer (0 - 2.5% dari ATMR) (%) 0.00% 0.00% 0.00% 0.00% 0.00%
10 Capital Surcharge for Systemic Banks (1% - 2.5%) (%) 1.00% 1.00% 1.00% 1.00% 1.00%
11 Total CET1 as buffer (Line 8 + Line 9 + Line 10) 1.00% 1.00% 1.00% 3.50% 3.50%
12 CET 1 Component for buffer 9.78% 9.68% 9.69% 12.15% 12.13%
Leverage ratio in accordance with Basel III
13 Total Exposure 280,141,884 284,044,123 274,464,304 279,963,399 -
14 Leverage Ratio Value, including the impact of the adjustment towards temporary 13.90% 13.29% 13.59% 13.41% -
exemptions on current account placements in Bank Indonesia in order to meet
Statutory Reserve provisions (if any)
14b Leverage Ratio Value, excluding the impact of the adjustment towards temporary 13.90% 13.29% 13.59% 13.41% -
Statutory Reserve provisions (if any)
14c Leverage Ratio Value, including impact from the adjustment towards temporary 13.90% 13.29% 13.59% 13.41% -
Statutory Reserve provisions (if any), which has inputed the average value of the
listed value of the Securities Financing Transaction (SFT) assets on a gross basis
14d Leverage Ratio Value, excluding the impact of the adjustment towards temporary 13.90% 13.29% 13.59% 13.41% -
exemptions in current account placements in Bank Indonesia in order to meet
Statutory Reserve provisions (if any), yang telah memasukkan nilai rata-rata dari
nilai tercatat aset SFT secara gross
Liquidity Coverage Ratio (LCR)
15 Total High Quality Liquid Assets (HQLA) 91,365,534 72,549,701 62,276,721 58,277,515 53,435,912
16 Total Net Cash Outflow 38,850,571 37,491,614 34,802,572 33,867,106 32,051,865
17 LCR (%) 235,17% 193,51% 178,94% 172,08% 166,72%
Net Stable Funding Ratio (NSFR)
18 Total Available Stable Funding (ASF) 192,802,555 188,585,547 185,486,848 191,952,950 192,065,523
19 Total Required Stable Funding (RSF) 161,212,880 166,568,956 172,011,284 177,502,251 176,845,731
20 NSFR (%) 119.60% 113.22% 107.83% 108.14% 108.61%
*
T is current quarter period, T-1 is the first period of the previous quarter

Qualitative Analysis
CAR ratio:
CIMB Niaga’s Consolidated Capital Adequacy Ratio (CAR) in December 2020 (T) was 21.92%, an increase of 1.03% from the position in September
2020 (T-1). This increase was due to an increase in capital of Rp935 billion and a decrease in risk weighted assets of Rp4.79 trillion.
When compared to the position in December 2019 (T-4), the CAR ratio also increased by 0.45%. This increase was mainly due to a decrease
in risk-weighted assets of Rp21.10 trillion. On the other hand, total capital per December 2021 has decreased by Rp3.68 trillion. This was
dominated by the implementation of PSAK 71 concerning changes in the method of provisioning based on expectations of credit losses, which
resulted in a decrease in retained earnings by Rp4.00 trillion.
Leverage Ratio:
CIMB Niaga’s consolidated leverage ratio in December 2020 (T) was 13.90%, an increase of 0.61% from the position of September 2020 (T-1).
This increase was mainly due to an increase in core capital by Rp1.2 trillion and a decrease in total exposure by Rp3.9 trillion.
LCR:
On a consolidated basis, the average LCR figure for the fourth quarter of 2020 was 235.17% or an increase of 41.66% compared to the previous
quarter’s position in the third quarter of 2020 at 193.51%. This increase was due to the increase in the average HQLA in the fourth quarter of
2020 by eq. Rp18.82 trillion, the majority of which came from the Parent Company or Bank, which was the impact of the increase in deposits
and the decrease in loans, while the average Net Cash Outflow increased by eq. Rp1.36 trillion. Many of these changes have occurred on
the side of the Parent Company or Bank, considering that the components of the Subsidiaries are relatively small when compared to the
components of the Bank.
NSFR:
The Consolidated NSFR figure is 0.56% greater than the Individual NSFR figure as a result of an increase in the value of the capital component
by eq. Rp662 billion and additional loan deposits from other banks to subsidiaries with a term of> 1 year in the amount of eq. Rp878 billion
after consolidation. Consolidated NSFR in December 2020 was 119.60% or still above the Regulator limit. The NSFR Consolidated number has
increased compared to September 2020 which was at 113.22%. The increase in the NSFR figure for December 2020 compared to September
2020 was due to the increase in the weighted value of the ASF component by eq. Rp4.22 trillion while the RSF weighted value decreased by eq.
Rp5.35 trillion. This resulted in an increase of 6.38%.
Tabel 1.b. Differences between Accounting and Prudential Regulation on Scopes of Consolidation
a b c d e f g
Carrying value of the respective risks

Carrying value
Carrying In accordance Not refer
as specified in In accordance
value based In accordance with In accordance to capital
the financial with
on prudent with credit risk counterparty with market risk requirements or
statement securitization
principles framework credit risk framework based on capital
publication framework
framework reduction
Indonesia
Assets
Cash 4,777,284 4,777,284 4,777,284 - - - -
Placement with Bank 18,289,876 18,289,876 18,289,876 - - - -

Indonesia
interbank placement 4,971,753 4,971,753 4,971,753 - - - -
Spot and derivative 1,359,286 1,359,286 - 2,689,990 - 1,359,286 -

receivables
Securities 56,373,803 56,373,803 48,635,741 - - 7,738,062 -
Securities sold under 8,781,497 8,781,497 7,889,701 197,465 - 694,330 -

repurchase agreements
(repo)
Claims on securities 2,305,523 2,305,523 - 2,305,523 - 694,330 -

purchased under re-sell
agreement (reverse repo)
Acceptances receivables 2,153,756 2,153,756 2,153,756 - - - -
Loans 141,902,141 141,902,141 141,902,141 - - - -
Sharia financing 32,852,452 32,852,452 32,852,452 - - - -
Investments 4,214 4,214 4,214 - - - -
Other financial assets 4,159,585 4,159,585 4,159,585 - - - -

a b c d e f g
Carrying value of the respective risks

Carrying value
Carrying In accordance Not refer
as specified in In accordance
value based In accordance with In accordance to capital
the financial with
on prudent with credit risk counterparty with market risk requirements or
statement securitization
principles framework credit risk framework based on capital
publication framework
framework reduction
Allowance for impairment in - - - - - - -

of financial assets -/-
a. Marketable securities (16,315) (16,315) (16,315) - - - -
b. Loans and Sharia financing (11,924,960) (11,924,960) (11,924,960) - - - -
c. Others (582,320) (582,320) (582,320) - - - -
Intangible assets 3,377,482 3,377,482 - - - - 3,377,482
Accumulated amortization of (1,612,272) (1,612,272) - - - - (1,612,272)

intangible assets -/-
Fixed assets and inventories 9,427,365 9,427,365 9,427,365 - - - -
Accumulated depreciation of (2,437,644) (2,437,644) (2,437,644) - - - -

fixed assets and inventories
-/-
Non-productive assest
a. Abandoned properties - - - - - - -
b. Foreclosed collaterals 294,080 294,080 294,080 - - - -
c. Suspended accounts 126,500 126,500 126,500 - - - -
d. Inter-branch assets 93,079 93,079 93,079 - - - -
Other assets 6,267,440 6,267,440 6,267,440 - - - -
Total assets 280,943,605 280,943,605 266,883,729 5,192,978 - 10,486,008 1,765,210
Liabilities
Current account 55,862,547 55,862,547 - - - - -
Saving account 67,861,369 67,861,369 - - - - -
Time deposits 83,805,508 83,805,508 - - - - -
Electronic money 83,420 83,420 - - - - -
Liabilities to Bank Indonesia - - - - - - -
Interbank liabilities 2,901,556 2,901,556 - - - - -
Spot and derivative liabilities 738,351 738,351 - - - 738,351 -
Liabilities on securities sold 8,656,643 8,656,643 - - - - -

under repurchase agreement
Acceptances liabilities 2,153,756 2,153,756 - - - - -
Issued securities 6,565,604 6,565,604 - - - - -
Borrowings 1,157,617 1,157,617 - - - - -
Security deposits 405,613 405,613 - - - - -
Inter-branch liabilities - - - - - - -
Other liabilities 9,698,570 9,698,570 - - - - -
Minority interest 14,112 14,112 - - - - -
Total liabilities 239,904,666 239,904,666 - - - - -

There are several financial assets that are tagged to more than one risk framework, namely:
1. Spot and Derivative Receivables, recorded in the framework of counterparty credit risk and market risk.
2. Marketable Securities, recorded in the framework of credit risk and market risk.
3. Securities sold under repurchase agreements (repo), recorded in the framework of credit risk, counterparty credit risk and market risk.
4. Receivables on securities purchased under agreement to resell (reverse repo), recorded in the framework of counterparty credit risk and
market risk.
The calculation of each risk framework for financial assets has complied with OJK regulations, namely:
1. SEOJK Number 11/SEOJK.03/2018 regarding Guidelines for Calculating Risk-Weighted Assets for Credit Risk using the Standard Approach,
2. SEOJK Number 48/SEOJK.03/2017 concerning Guidelines for Calculating Net Receivables for Derivative Transactions in the Calculation of
Risk-Weighted Assets for Credit Risk Using the Standard Approach, and
3. SEOJK Number 38/SEOJK/2016 concerning Guidelines for the Use of Standard Methods in Calculating the Minimum Capital Adequacy
Requirement for Commercial Banks by Taking Market Risk into Account.
Tabel 1.c. Main Sources of differences between prudential regulation exposure amounts and carrying value
based on financial accounting standards
a b c d e
Item in accordance with:
Total Counterparty
credit risk Securitization Market risk
credit risk
framework Framework framework
framework
Asset carrying value amount under scope of regulatory consolidation 280,943,605 266,883,729 - 5,192,978 10,486,008
Liabilities carrying value amount under regulatory scope of consolidation - - - - -
Total net amount under regulatory scope of consolidation - - - - -
Off-balance sheet amounts 80,432,699 7,890,604 - - -
Differences due to different netting rules, other than those already - - - - -

included in row 2
Differences due to consideration of provisions - - - - -
Differences due to prudential filters - - - - -
Exposure amounts considered for regulatory purposes
There is a difference between the total carrying value of assets in accordance with the consolidated coverage of the prudential requirements
and the carrying value of each risk (as reported in template LI1) which originates from the value of Spot and Derivative Receivables and
Receivables on securities purchased under agreement to resell (reverse repo). The differences will be explained as follows:
1. Spot and Derivative Receivables
- Referring to OJK regulations, financial assets in the form of Spot and Derivative Receivables are subject to more than one risk, namely the
counterparty credit risk framework and the market risk framework.
- In the counterparty credit risk framework, the calculation of Derivative Transactions using the Standard Approach has different calculation
criteria with the accounting recorded value because the calculation uses the sum of Replacement Cost and Potential Future Exposure
multiplied by 1.4 in accordance with the provisions of SEOJK Number 48/SEOJK.03/2017.
- In the market risk framework, the calculations refer to SEOJK Number 38/SEOJK/2016 concerning Guidelines for the Use of Standard
Methods in Calculating the Minimum Capital Requirement for Commercial Banks by Taking Market Risk into account.
2. Receivables on securities purchased under agreement to resell (reverse repo).

- Referring to OJK regulations, financial assets in the form of reverse repo are subject to more than one type of risk, namely counterparty
credit risk and market risk framework.
- In the market risk framework, the calculation of Reverse Repo Transactions refers to the provisions of SEOJK Number 38/SEOJK/2016
Market risk framework regarding Reverse Repo transactions in the Trading Book, that if the securities that are collateral for reverse repo
transactions are traded, the Bank must record the transaction as short positions in the Trading Book so that they are exposed to Market
Risk.
- In the counterparty credit risk framework, the reverse repo calculation refers to SEOJK Number 11/SEOJK.03/2018 concerning Guidelines
for Calculating Risk-Weighted Assets for Credit Risk using the Standard Approach.

CAPITAL
I. DISCLOSURE ON QUALITATIVE CAPITAL e. Establish contingency plan for capital.

STRUCTURE AND CAPITAL ADEQUACY f. Establish a comprehensive recovery plan
that covers not only the capital aspect but
1. Disclosure of Capital also the liquidity, profitability, and asset
The Bank’s capital management framework is quality.
established to ensure that the Bank has a sound b. Capital Structure
capital structure that is aligned with its risk profile, The capital components are largely dominated by
business targets, and capital adequacy required permanent and loss absorbent, where the core
by the Regulator. This can be seen from the Bank’s capital (Tier-1) remains the largest component of
capital components that are largely concentrated in the Bank’s capital. In addition to core capital, the
Tier-1 capital, with consolidated Tier-1 capital ratio Bank has also issued capital instruments in the
of 20.8% as of December 2020, out of the Capital form of subordinated bonds as follows:
Adequacy Ratio (KPMM) of 21.91%.
1) Subordinated Bonds III of 2018
a. Capital Management Objective On 15 November 2018, the Bank issued the
CIMB Niaga has the vision to maintain a strong Subordinated Bonds III 2018 amounting to
capital position while also utilizing capital Rp150 billion that comprised of:
optimally to support business growth and
maintain investors, depositors, customers, and Series A: The principal amount of the Series
market trust. The main objectives of capital A Subordinated Bonds is Rp75 billion with a
management at the Bank are as follows: fixed-rate coupon of 9.85% per annum, which
1) Provide sufficient capital for business will be mature on 15 November 2023.
development, both organic and inorganic in
line with the Bank’s business appetite. This Series B: The principal amount of the Series
can be achieved through the implementation B Subordinated Bonds is Rp75 billion with a
of capital management as follows: fixed-rate coupon of 10.0% per annum, which
a) Short, medium, and long-term capital will be mature on 15 November 2025.
planning, by considering the business
strategy. The bonds issuance was approved by OJK
b) Creating a balanced business appetite through Letter No. S-124/ PB.33/2018 dated
within the perspectives of capital 19 December 2018 and received an effective
consumption and capital generation statement from the Chairman of Bapepam-
through the returns generated from the LK through Letter No. S-158/D.04/2018
business. dated 8 November 2018. Pertaining to these
2) Ensure that the Bank has adequate capital to subordinated bonds issuance, the Bank
absorb risks including under stress condition. received a rating of “AAidn” from Pefindo. The
This is can be achieved by: issued subordinated bonds were used by the
a. Complying with regulations on capital at Bank to support credit growth and maintain
all times. capital resiliency according to OJK Regulation
b. Maintaining capital buffer above the No. 14/2017 on the Recovery Plan of Systemic
minimum requirement. Banks.
c. Performing stress testing, both for internal
and regulatory requirements.
d. Prepare short, medium, and long-term
projections and oversight on capital
adequacy requirement to ascertain the
need for capital consumption.

2) Shelf registration Subordinated Bonds I Phase of future regulatory changes and shareholders
1 of 2019 expectations.
On 19 December 2019, the Bank issued the - Estimating capital needs based on the risk
shelf registration Subordinated Bonds I phase appetite of the Bank.
1 of 2019 amounting to Rp83 billion with a - Determining the requirements for capital
tenor of 5 years maturing on 19 December issuance and the maturity profile of capital
2024, with a fixed-rate coupon of 8.05% per instruments.
annum.
The bonds issuance was approved by Bank Those are part of improving the effectiveness
Indonesia through its Letter No. 21/769/DSSK/ of Bank’s risk management practices, according
Srt/B dated 7 November 2019 and received to OJK Circular Letter No. 26/ SEOJK.03/2016
an effective statement from the Executive dated 14 July 2016 concerning Minimum Capital
Chair of the Capital Market Supervisory Board Adequacy Requirement in accordance with Risk
through Letter No. S-194/D.04/2019 dated Profile and Capital Equivalency Maintained Assets
12 December 2019. With respect to these (CEMA).
bonds issuance, the Bank obtained a rating As of December 2020, the Bank’s risk profile self-
of “AA idn” from Fitch Ratings Indonesia. The assessment was rated 2 (two) or low-moderate
Subordinated Bonds issued by the Bank qualify with the CAR of 21.24% for Bank only, and 21.91%
as complementary capital and attached with a for Bank consolidation. This ratio complies with
call option feature, according to OJK Letter No. OJK requirement, a minimum of 9% to 10% of
S-7/ PB.33/2020 dated 4 February 2020. Risk Weighted Assets (RWA) for a Bank with a risk
profile rating of 2 (two).
c. Capital Adequacy
As part of the banking entities in Indonesia, OJK and Bank Indonesia have issued a capital
CIMB Niaga continuously strives to comply regulation that is in line with Basel III effective 1
with regulatory requirements, including Basel January 2016. The Bank is expected to provide
implementation to manage minimum CAR 3 (three) capital buffers gradually in the form of
adequacy. Management considers Bank’s capital core capital (CET1) as follows:
adequacy by maintaining a capital adequacy ratio - Capital Conservation Buffer (CCB), which
(CAR) above the minimum requirement set by OJK constitutes additional capital that serves as
for the formulation of budget and capital reserves a buffer in the event of losses during crisis.
that are deemed sufficient to cover the risks that As a bank classified as Book IV, the Bank
may arise from the operational activities of the requires to provide 2.5% buffer. However,
Bank in the future. due to the COVID-19 condition, OJK has issued
OJK Regulation No 48/POJK.03/2020 on the
The Bank has implemented the Internal Capital Temporary Waiver of the requirement for the
Adequacy Assessment Process (ICAAP), a process CCB of 2.5%.
to evaluate capital adequacy in accordance with - Countercyclical Buffer, which constitutes
the risk profile, wherein Bank actively monitors additional capital that forms as a buffer to
and maintains its future capital level through anticipate losses in the event of excessive
these following activities: credit growth that could potentially disrupt
- Establishing capital goals by considering stress the stability of financial system. The amount
conditions for the Bank and subsidiaries, both of the countercyclical buffer is between 0%-
at Bank only and consolidation, in anticipation 2.5% of the RWA. According to Bank Indonesia

Regulation No. 17/22/PBI/2015, the initial However, in order to improve the quality of credit
implementation of the capital buffer is set at process, the Bank has developed its internal
0% starting from 1 January 2016. Subsequently, rating model for internal use.
BI will evaluate the amount and period for
the Countercyclical Buffer implementation at Similar to credit risk, currently the implementation
least once in every six months. In the press of Minimum Capital Adequacy Requirement for
release dated 19 November 2020, BI has set market risk uses the Standardized Approach that
the Countercyclical Buffer at 0%. covers interest rate and currency exchange rate
- Capital Surcharge Buffer, for Domestic risks.
Important Systemically Bank (D-SIB),
constitutes additional capital that is aimed to Meanwhile, the Bank measures its capital
reduce the negative impact on the stability adequacy for operational risk by using the Basic
of the financial system and the economy in Indicator Approach (PID) method. Based on
the event of a bank with systemic impact fail, this method, the Bank allocates the minimum
through increasing bank’s ability to absorb capital for operational risk based on historical
losses. Based on OJK Regulation No.34- data, that is equal to the average annual gross
POJK.03-2016, the Bank has to set aside income over the past three years multiplied by a
capital for this D-SIB buffer between 1%-2.5%, constant factor of 15%. The Bank also allocates an
depending on OJK’s decision. operational risk reserve against potential losses
from operations.
Despite the loosening policy, as of December
2020 the Bank’s capital level has met all three Assessment on the Bank’s capital in 2020 is
capital buffer requirements above. adequate, in which the capital ratio is well above
the regulatory requirements and furthermore, the
According to OJK Circular Letter No.11/ Bank has adequate capital to support business
SEOJK.03/2018 and OJK Circular Letter No 42/ growth.
SEOJK.03/2016 on the Guideline for Calculating
Risk Weighted Assets (ATMR) for Credit Risk
Using the Standardized Approach, the Bank
has complied with such regulation through
the availability of the Credit Risk Standardized
Approach (CRISTA) application that has been
adjusted to the above OJK Circular Letter.
Based on credit risk standardized approach, the

calculation for RWA is conducted by referring
to the risk weight according to the regulator
and ratings issued by external rating agencies
recognized by OJK. Currently, the Bank uses the
ratings that are issued by external rating agencies,
namely Pemeringkat Efek Indonesia (Pefindo),
Fitch Ratings Indonesia, Fitch Ratings, Moody’s
Indonesia, Moody’s and Standard & Poor’s.

The trend for capital growth based on the Bank’s Business Plan also indicates the ability to support the business
expansion of the Bank going forward. As of December 2020, Tier-1 capital ratio to RWA was 20.12% for Bank only,
and 20,80% for consolidation. Whereas overall, the CAR for bank only was 21.24% and for consolidation was
21.91% as of December 2020. These ratios fully comply with the requirement set by the Otoritas Jasa Keuangan,
which is a minimum of 9% to less than 10% of RWA for banks with a risk rating of 2 (low-to-moderate), according
to OJK Regulation No. 34/POJK.03/2016. The Bank’s capital adequacy pertaining to minimum core capital of 6%
within five years is described below:
21.47 21.91
20.20 20.80
19.66
17.96 18.60 18.40
17.31
16.44
Core Capital
CAR (%)
2016 2017 2018 2019 2020
The followings are Bank’s CAR component as a single entity (Bank Only) and in consolidation as of December 2020:
in million Rupiah
Individu Konsolidasi
Description
(in million Rupiah) (in million Rupiah)
Core Capital (Tier-1) 36,889,257 38,942,564
Common Equity Tier-1 36,889,257 38,942,564
Suplementary Capital (Tier-2) 2,060,256 2,090,070
Total Capital 38,949,513 41,032,634
Total Risk Weighted Assets 183,377,145 187,238,959
CAR 21.24% 21.91%
Ratio of Tier-1 Capital to RWA 20.12% 20.80%
Ratio of Tier-1 Common Equity to RWA 20.12% 20.80%
Tier-2 Ratio 1.12% 1.12%
As part of capital management, the Bank periodically reviews annual dividends payments to maintain capital
resiliency in supporting business growth target, capital expenditure and new business activities. Based on the
Bank’s Annual General Shareholder’s Meeting on 9 April 2020, the shareholders approved to distribute portions
of 2019 net income as cash dividends payment amounting to Rp1,392.16 billion (paid on 8 May 2020). The plan
for dividends payment and capital injection to a subsidiaries is prepared with due considerations on maintaining
the Bank’s capital adequacy at optimum level, according to the regulatory minimum requirement and the Bank’s
business strategy going forward.

Referring to the OJK Regulation No.26/POJK.03/2015, the Bank as the Principal Entity of CIMB Indonesia has
reported the minimum integrated capital adequacy for financial conglomerate. As of December 2020, the
minimum integrated capital adequacy ratio for the CIMB Indonesia financial conglomerates was 201%, or 101%
above the minimum requirement that is set by the aforementioned OJK Regulation.
d. Capital Governance
Management has a good understanding of capital management, in which the Board of Directors and Board of
Commissioners consider capital planning as a key element to achieve strategic goals. This can be seen from
the performance of the Bank as well as those of subsidiaries that are constantly maintained, through the
continuous oversight of the quality of risk management. The Internal Audit Unit performs regular assessment
on the sufficiency of policies for dividends distribution, as well as on the commitments of Management towards
the Bank’s strategy and business targets that have been outlined in the Bank’s Business Plan (RBB).
e. Disclosure on qualitative
Table 2.a. CC1 – Capital Composition
Name of Bank : PT Bank CIMB Niaga Tbk (Consolidated)

Reporting Position : December 2020
Ref. No. that derive from

Amount
No. Component Consolidated Balance
(in million Rupiah)
Sheet1)
CET 1: Instrument and Additional Paid-In Capital
1 Common share (related stock surplus) 8,488,304 E16a;E16b;E16c;E17a;E17d
2 Retained earnings 27,636,611 E21a; E21b; E21c
3 Accumulated other comprehensive income (and other reserves) 5,012,429 E18a; E19a
4 Directly issued capital subject to phase out from CET1 - -
5 Non-controlling interest - -
6 Common Equity Tier 1 capital before regulatory adjustments 41,137,345 -
CET 1: Regulatory Adjustment
7 Differences in the fair value financial instruments adjustments in the trading book - -
8 Goodwill (net of related tax liability) - -
9 Other intangibles other than mortgage-servicing rights (net of related tax liability) 1,307,207 A14
10 Deferred tax assets that rely on future profitability - -
11 Cash-flow hedge reserve - -
12 Shortfall on provisions to expected losses - -
13 Securitisation gain on sale - -
14 Gains and losses due to changes in own credit risk on fair valued liabilities - -
15 Defined-benefit pension fund net assets - -
16 Investments in own shares (if not already netted off paid-in capital on reported - -
balance sheet)
17 Cross-holdings in CET 1 instruments in other entities - -
18 Investments in the capital of Banking, financial and insurance entities that are outside - -
the scope of regulatory consolidation, net of eligible short positions, where the Bank
does not own more than 10% of the issued share capital (amount above 10% threshold)
19 Significant investments in the common stock of Banking, financial and insurance - -
entities that are outside the scope of regulatory consolidation, net of eligible short
positions (amount above 10% threshold)


Amount
(in million Rupiah)
Sheet1)
20 Mortgage servicing rights - -
21 Deferred tax assets arising from temporary differences (amount above 10% - -
threshold, net of related tax liability)
22 Amount exceeding the 15% threshold - -
23 Significant investments in the common stock of financials - -
24 Mortgage servicing rights - -
25 Deferred tax assets arising from temporary differences - -
26 National specific regulatory adjustments - -
26a. Difference between PPKA and CKPN - -
26b. PPKA non produktve 141,199 -
26c. Deferred tax assest 738,427 A17
26d. Investments - -
26e. Shortfall in capital of affiliates engaged in insurance - -
26f. Securitization exposure - -
26g. Others - -
27 Regulatory adjustments applied to CET 1 due to insufficient Additional Tier 1 and - -
Tier 2 to cover deductions
28 Total regulatory adjustments to Common equity Tier 1 2,186,833 -
29 Common Equity Tier 1 capital (CET1) 38,950,511 -
Additional Tier 1 capital: instruments
30 Directly issued qualifying Additional Tier 1 instruments plus related stock surplus - -
31 of which: classified as equity under applicable accounting standards - -
32 of which: classified as liabilities under applicable accounting standards - -
33 Directly issued capital instruments subject to phase out from Additional Tier 1 - -
34 AT 1 instruments issued by a subsidiaries are recognized in the KPMM calculation - -
on a consolidated basis
35 Instruments issued by subsidiaries subject to phase out - -
36 Additional Tier 1 capital before regulatory adjustments - -
Additional Tier 1 capital: regulatory adjustments
37 Investments in own Additional Tier 1 instruments - -
38 Reciprocal cross-holdings in Additional Tier 1 instruments - -
39 Investments in the capital of Banking, financial and insurance entities that are - -
outside the scope of regulatory consolidation, net of eligible short positions, where
the Bank does not own more than 10% of the issued common share capital of the
entity (amount above 10% threshold)
40 Significant investments in the capital of Banking, financial and insurance entities that - -
are outside the scope of regulatory consolidation (net of eligible short positions)
41a. Placement of funds on AT1 instruments at other banks - -
42 Regulatory adjustments applied to Additional Tier 1 due to insufficient Tier 2 to - -
cover deductions
43 Total regulatory adjustments to Additional Tier 1 capital - -
44 Additional Tier 1 capital (AT1) - -
45 Tier 1 capital (T1 = CET 1 + AT 1) 38,950,511 -
Tier 2 capital: instruments and provisions
46 Directly issued qualifying Tier 2 instruments plus related stock surplus 184,378 -
47 Directly issued capital instruments subject to phase out from Tier 2 - -


Amount
(in million Rupiah)
Sheet1)
48 Tier 2 instruments (and CET1 and AT1 instruments not included in rows 5 or 34) - -
issued by subsidiaries and held by third parties (amount allowed in group Tier 2)
49 Instruments issued by subsidiaries subject to phase out - -
50 General PPA reserves for earning assets that must be calculated up to 1.25% of 1,906,292 -
RWA for Credit Risk
51 Tier 2 capital before regulatory adjustments 2,090,669 -
Tier 2 capital: regulatory adjustments
52 Investments in own Tier 2 instruments - -
53 Reciprocal cross-holdings in Tier 2 instruments and other TLAC liabilities - -
54 Investments in other TLAC liabilities of banking, financial, and insurance entities - -
that are outside the scope of regulatory consolidation and, for which the Bank
does not own more than 10% of the issued entity’s ordinary shares: amounts
previously designated to the 5% limit but which are no longer eligible (only for
G-SIBs)
Investments in the other TLAC liabilities of banking, financial and insurance - -
entities that are outside the scope of regulatory consolidation and where the bank
does not own more than 10% of the issued common share capital of the entity:
amount previously designated for the 5% threshold but that no longer meets the
conditions (for G-SIBs only)
55 Significant investments in the capital and other TLAC liabilities of banking, financial - -
and insurance entities that are outside the scope of regulatory consolidation (net
of eligible short positions)
56a. Sinking fund - -
56b. Placement of funds in Tier 2 instruments in other banks - -
57 Total regulatory adjustments to Tier 2 capital - -
58 Tier 2 capital (T2) 2,090,669 -
59 Total capital 41,041,181 -
60 Total risk weighted assets 187,244,284 -
Capital ratios and buffers
61 Common Equity Tier 1 (as a percentage of risk weighted assets) 20,80% -
62 Tier 1 (as a percentage of risk weighted assets) 20,80% -
63 Total capital (as a percentage of risk weighted assets) 21,92% -
64 Additional capital (buffer) - percentage of AMTR 9,78% -
65 Capital conservation buffer requirement 0,00% -
66 Bank specific countercyclical buffer requirement 0,00% -
67 Higher loss absorbency requirement - -
For conventional commercial banks: available Common Equity Tier 1 (CET 1) to - -
fulfill Additional Capital (Buffer) - percentage of RWA
68 For branch offices of the Bank domiciling abroad: The portion of Business Funds - -
placed in CEMA (expressed as a percentage of RWA) available to fulfill the Buffer.
National minima (if different from Basel 3)

69 National Common Equity Tier 1 minimum ratio - -
70 National Tier 1 minimum ratio - -
71 National total capital minimum ratio - -


Amount
(in million Rupiah)
Sheet1)
Amounts below the thresholds for deduction (before risk weighting)
72 Non-significant investments in the capital and other TLAC liabilities of other - -
financial entities
73 Significant investments in the common stock of financial entities - -
74 Mortgage servicing rights (net of related tax liability) - -
75 Deferred tax assets arising from temporary differences (net of related tax liability) - -
Applicable caps on the inclusion of provisions in Tier 2
76 Provisions eligible for inclusion in Tier 2 in respect of exposures subject to - -
standardised approach (prior to application of cap)
77 Cap on inclusion of provisions in Tier 2 under standardised approach - -
78 Provisions eligible for inclusion in Tier 2 in respect of exposures subject to internal - -
ratings-based approach (prior to application of cap)
79 Cap for inclusion of provisions in Tier 2 under internal ratings-based approach - -
Capital instruments subject to phase-out arrangements (only applicable between 1 Jan 2018 and 1 Jan 2022)
80 Current cap on CET1 instruments subject to phase out arrangements - -
81 Amount excluded from CET1 due to cap (excess over cap after redemptions and - -
maturities)
82 Current cap on AT1 instruments subject to phase out arrangements - -
83 Amount excluded from AT1 due to cap (excess over cap after redemptions and - -
maturities)
84 Current cap on T2 instruments subject to phase out arrangements - -
85 Amount excluded from T2 due to cap (excess over cap after redemptions and - -
maturities)
Notes:
A : Assets
E : Equity
L : Liabilities
Reference numbered in accordance with balance sheet account numbering
Table 2.b. CC2 – Capital Reconciliation

Consolidated
Balance Sheet with
Published Balance
Consolidation Scope
No. Accounts Sheets
based on Prudential
Requirements
Dec-20 Dec-20
ASSET
1 Cash 4,777,284 4,777,284
2 Placements with Bank Indonesia 18,289,876 18,289,876
3 Interbank placements 4,971,753 4,971,753
4 Spot and derivative claims/forward 1,359,286 1,359,286
5 Securities 56,373,803 56,373,803
6 Securities sold under repurchase agreements (repo) 8,781,497 8,781,497
7 Receivables on securities purchased under agreement to re-sell (reverse repo) 2,305,523 2,305,523
8 Acceptances receivables 2,153,756 2,153,756

Consolidated
Balance Sheet with
Published Balance
Consolidation Scope
No. Accounts Sheets
based on Prudential
Requirements
Dec-20 Dec-20
9 Loans 141,902,141 141,902,141
10 Sharia financing 32,852,452 32,852,452
11 Equity Investment 4,214 4,214
12 Other financial assets 4,159,585 4,159,585
13 Allowance for impairment in value of financial assets -/-
a. Marketable securities (16,315) (16,315)
b. Loans and Sharia financing (11,924,960) (11,924,960)
c. Others (582,320) (582,320)
14 Intangible assets 3,377,482 3,377,482
Accumulated amortization of intangible assets -/- (1,612,272) (1,612,272)
15 Fixed assets and inventories 9,427,365 9,427,365
Accumulated depreciation of fixed assets and inventories -/- (2,437,644) (2,437,644)
16 Non-productive assest
Abandoned properties - -
Foreclosed collaterals 294,080 294,080
Suspended accounts 126,500 126,500
Inter-branch assets 93,079 93,079
17 Other assets 6,267,440 6,267,440
TOTAL ASSETS 280,943,605 280,943,605
LIABILITIES AND EQUITY
LIABILITIES
1 Current account 55,862,547 55,862,547
2 Saving accounts 67,861,369 67,861,369
3 Time deposits 83,805,508 83,805,508
4 Electronic money 83,420 83,420
5 Liabilities to Bank Indonesia - -
6 Liabilities to other banks 2,901,556 2,901,556
7 Spot and derivative liabilities/forward 738,351 738,351
8 Payables on securities sold under agreement to repurchase (repo) 8,656,643 8,656,643
9 Acceptances payables 2,153,756 2,153,756
10 Marketable securities issued 6,565,604 6,565,604
11 Borrowings 1,157,617 1,157,617
12 Security deposits 405,613 405,613
13 Inter-branch liabilities - -
14 Other liabilities 9,698,570 9,698,570
15 Minority interest 14,112 14,112
TOTAL LIABILITIES 239,904,666 239,904,666

Consolidated
Balance Sheet with
Published Balance
Consolidation Scope
No. Accounts Sheets
based on Prudential
Requirements
Dec-20 Dec-20
EQUITY
16 Issued and fully paid capital
a. Capital 2,900,000 2,900,000
b. Unpaid capital -/- (1,287,743) (1,287,743)
c. Treasury stock -/- (253,832) (253,832)
17 Additional paid in capital
a. Agio 7,033,450 7,033,450
b. Disagio -/- - -
c. Donated capital - -
d. Others 96,430 96,430
18 Other comprehensive income
a. Gain 4,598,207 4,598,207
b. Loss -/- - -
19 Reserves -
a. General reserves 351,538 351,538
b. Appropriated reserves - -
20 transaction with non-contrilling interest (35,723) (35,723)
21 Gain/Loss
a. Previous years 27,016,372 27,016,372
b. Current year 2,012,401 2,012,401
c. Dividend paid -/- (1,392,161) (1,392,161)
TOTAL EQUITY 41,038,939 41,038,939
TOTAL LIABILITIES AND EQUITY 280,943,605 280,943,605
Table 2.c.1. CCA - Details of Capital Instrument Features and TLAC-eligible Instrument
SHARES CATEGORY

Quantitative/Qualitative
No. Description
Information
1 Issuer PT Bank CIMB Niaga Tbk
2 Identification Number BNGA
3 Applicable Law Indonesian Law
3a Means that enable the achievement of implementation of obligations on Section 13 of the TLAC Term N/A
Sheet (for other valid TLAC instruments governed by foreign law)
Instrument treatment based on CAR
4 During the transition period N/A
5 After Transition CET 1
6 Is the instrument eligible for Solo/Group or Group and Solo Group and Solo

No. Description
Information
7 Type of instrument Common shares
8 Amount recognized in CAR 8,488,304
9 Par value of instrument Class A: Rp5,000 (full
amount) per share
Class B: Rp50 (full amount)
per share
10 Accounting classification Equity
11 Issue date Effective registration:
- Initial Public Offering:
02/10/1989
- Limited Public Offering I:
26/09/1992
- Limited Public Offering II:
29/10/1996
- Limited Public Offering III:
04/08/1999
- Limited Public Offering IV:
25/08/2005
- Limited Public Offering V:
03/11/2010
12 No due date (perpetual) or with due date Perpetual
13 Due date N/A
14 Execution of a call option on the approval of the Bank Commissioners N/A
15 Call option date, amount of withdrawal and other requirements of call option (if any) N/A
16 Subsequent call option N/A
Coupon/dividend
17 Fixed or floating coupon/dividend Floating
18 The coupon rate or other reference index N/A
19 Whether or not dividend stopper No
20 Fully discretionary; partial or mandatory Mandatory
21 Is there any step up feature or other incentive? No
22 Noncumulative or cumulative Noncumulative
23 Convertible or non-convertible Non-convertible
24 If convertible, what is the trigger point N/A
25 If convertible, whether full or partial N/A
26 If convertible, what is the conversion rate N/A
27 If convertible, mandatory or optional N/A
28 If convertible, what is the instrument conversion type N/A
29 If convertible, mention the issuer of the instrument it converts into N/A
30 Write-down feature No
31 If write-down; what is the trigger N/A
32 If write-down; whether full or partial N/A
33 If write-down, is it permanent or temporary N/A
34 If temporary write-down, explain documentation mechanism N/A
34a Type of subordination N/A

No. Description
Information
35 Hierarchy of instruments at the time of liquidation This instrument is paid up
capital and is subordinated
to other capital
components. Available to
absorb losses that occur
before liquidation or
during liquidation
36 Are there features that are non-compliant? No
37 If yes, explain for non-compliant features N/A
Table 2.c.2. CCA - Details of Capital Instrument Features and TLAC-Eligible Instruments
SUBORDINATION CATEGORY III

No. Description
Information
2 Identification Number BNGA03ASB and
BNGA03BSB
3 Applicable Law Indonesian law
5 After Transition Tier 2
7 Type of instrument Subordinate Loan
8 Amount recognized in CAR 116.238
9 Par value of instrument 150.000
10 Accounting classification Liability - Amortised Cost
11 Issue date 15/11/2018
12 No due date (perpetual) or with due date With due date
13 Due date "Series A : 15/11/2023
Series B : 15/11/2025"
14 Execution of a call option on the approval of the Bank Commissioners No
Coupon/dividend
17 Fixed or floating coupon/dividend Fixed
18 The coupon rate or other reference index "Series A : 9.85%
Series B : 10.00%"
19 Whether or not dividend stopper N/A
22 Noncumulative or cumulative Cummulative

No. Description
Information
30 Write-down feature Yes
31 If write-down; what is the trigger In accordance with
the provisions of Part
II number 2 SEOJK
No.20/2016, conditions
that cause (trigger event)
supplementary capital
(Tier 2) must be written
down namely in the case
of: (1) The ratio of main
core capital (Common
Equity Tier 1/CET 1) is
lower or equal to 5.125%
(five point one hundred
twenty-five percent) of
risk weighted assets
(RWA) both individually
and consolidated with
subsidiaries; and/
or (2) there is a plan
from the competent
authority to carry out
capital participation to
the Company which
is considered to be
potentially disrupted for
business continuity; and
(3) there is an order from
OJK to write down. The
impact of Write Down
includes reducing the
value of liabilities, or
reducing some or all of the
payment of yields.
32 If write-down; whether full or partial Full or partial
35 Hierarchy of instruments at the time of liquidation Subordinate III is pari
passu without any
preference to the rights
of all other subordinated
creditors, but lower than
the preferential creditor,
privileged creditors and
unsecured creditors
which are not holders of
subordinated bonds

Table 2.c.3. CCA - Details of Capital Instrument Features and TLAC-Eligible Instruments
SUB BKLJ I CATEGORY PHASE I

No. Description
Information
2 Identification Number BNGA01SBCN1
3 Applicable Law Indonesian law
5 After Transition Tier 2
7 Type of instrument Subordinate Loan
8 Amount recognized in CAR 68.140
9 Par value of instrument 83.000
10 Accounting classification Liability - Amortised Cost
11 Issue date 19 /12/ 2019
12 No due date (perpetual) or with due date With due date
13 Due date 19 /12/ 2024
14 Execution of a call option on the approval of the Bank Commissioners No
Coupon/dividend
17 Fixed or floating coupon/dividend Fixed
18 The coupon rate or other reference index 0,0805
19 Whether or not dividend stopper N/A
22 Noncumulative or cumulative Cummulative
30 Write-down feature Yes

No. Description
Information
31 If write-down; what is the trigger In accordance with
the provisions of Part
II number 2 SEOJK
No.20/2016, conditions
that cause trigger event)
supplementary capital
(Tier 2) must be written
down namely in the case
of: (1) The ratio of main
core capital (Common
Equity Tier 1/CET 1) is
lower or equal to 5.125%
(five point one hundred
twenty-five percent) of
risk weighted assets
(RWA) both individually
and consolidated with
subsidiaries; and/
or (2) there is a plan
from the competent
authority to carry out
capital participation to
the Company which
is considered to be
potentially disrupted for
business continuity; and
(3) there is an order from
OJK to write down. The
impact of Write Down
includes reducing the
value of liabilities, or
reducing some or all of the
payment of yields.
32 If write-down; whether full or partial Full or partial
35 Hierarchy of instruments at the time of liquidation Subordinate II is pari
passu without any
preference to the rights
of all other subordinated
creditors, but lower than
the preferential creditor,
privileged creditors and
unsecured creditors
which are not holders of
subordinated bonds.

RISK MANAGEMENT APPROACH
CORRELATION OF BUSINESS MODEL TO RISK Management Unit (SKRM) can operate independently to
PROFILE AND RISK TOLERANCE the Risk Taking Unit (RTU), the Compliance Unit (SKK) and
Risk aspect is one of the considerations in the business Internal Audit Unit (SKAI).
planning of the Bank. It represents from risk posture,
which provides qualitative direction at the beginning of COMMUNICATING RISK CULTURE
the annual planning process on the desired risk level To strengthen risk culture, the implementation of risk
or risk posture that the Bank is willing to take on the management is embodied in the philosophy of the Three
following year. Risk posture becomes the process that Lines of Defense, in which risks are initially managed
connects risk level that the Bank is willing to take with at the point of the risk taking activities, to ensure clear
the strategies set up process that is incorporated in the accountability of risk across the organization and Risk
annual budget. Management Unit (SKMR) as an enabler of the business
units.
Moreover, CIMB Niaga will set the Risk Appetite that is
formulated in line with the strategy that is adopted to The initiatives that the Bank has taken to instill risk
ensure the alignment between the various components culture in daily operational activities of the Bank at all
of strategy, growth, operating plan, capitalization and levels of the organization are discussed in more detail in
risk. Risk Appetite Statements has four measurement the Risk Culture section.
categories which takes into consideration the business,
risk tolerance and capital – comprising of solvency and The Bank has adequate policies, procedures and
capitalization, earnings diversification and volatility methodologies as the foundation for a unified view
(including credit risk parameters such as asset quality across the organization, including standardized risk
ratios, concentration risk; market risk limit utilization; definitions and same risk terminology. As such, there are
IRRBB; and operational risk parameters including IT risk), specific risk management guidance and direction of the
liquidity and franchise value (including compliance and Bank’s daily business activities.
Bank’s reputation).
Risk Committees’ membership, in which includes all
The aspects or categories included risk appetite setting members of the Board of Directors, represents all
are aligned with the types of risks that are covered in business and risk elements whereby issues are openly
regulation pertaining to risk profile. discussed at committee meetings from all angles, both
business and risks.
RISK GOVERNANCE STRUCTURE
The Risk Governance structure is critical to ensure The Bank also relies on various internal media such as
the independency and transparency of the entire risk email blast, wallpaper, WhatsApp, and earning on the Go
management process, which allows for consistency (LOG) application to drive awareness on risk management
throughout the risk management implementation. and anti fraud implementation.
The Board of Directors is assisted by risk committees that THE SCOPE AND MAIN FEATURE OF RISK
are responsible to supervise the effectiveness of Enterprise MEASUREMENT SYSTEM
Wide Risk Management (EWRM) implementation. The Risk measurement is carried out for all risk types that are
Risk Management Committee (RMC) evaluates Bank’s inherent to the Bank’s business to identify the risk profile
risk management process, and oversee the overall risk of the Bank.
management frameworks application. In addition to
RMC, other risk related executive committees that are These measurements are supported by infrastructures
in charged for more in-depth discussions on certain (methodology, model, data, and systems etc) that are
risk areas are, the Asset Liability Committee (ALCO) that suited for each risk type, both through qualitative and
manages liquidity and interest rate risks in the banking quantitative approach, and based on references and best
book, the Operational Risk Committee (ORC) that manages practices in the financial and banking industry.
operational risk, and the Credit Policy Committee (CPC)
that discussed credit policies. Several main systems used in support of the Bank’s risk
management processes is discussed more detail in the
The organization structure for risk management function Risk Management Framework and Systems – Technology
implementation is designed in such a way that the Risk and Data section.

Moreover, as explained in Risk Management Focus 2020 types of stress testing that are conducted periodically
section, the Bank continues to develop and implement by the Bank, one of which is the integrated stress
risk-based machine learning model/data robots to testing that is done twice a year based on several level
support of more effective risk management processes. of severity. Integrated stress testing is performed based
on simulations of market wide crisis scenarios that are
RISK INFORMATION REPORTING PROCESS TO forward looking by considering the interaction between
THE BOARD OF COMMISSIONERS AND BOARD the banking system and the economy on a broad scale,
OF DIRECTORS including the impact of the overall changes in market
Overall risk exposures is reported periodically to the conditions.
Board of Directors through the Executive Committee
meetings such the Risk Management Committee (RMC), In addition to market wide crisis, in line with current
Assets & Liabilities Committee (ALCO), Operational Risk best practices, the Bank also considers the impact of
Committee (ORC) and Credit Policy Committee (CPC). idiosyncratic (bank specific) scenarios in its stress testing
In addition, risk reports are submitted periodically to result. An idiosyncratic scenario is a stress condition
the Board of Commissioners through Risk Oversight affecting the Bank due to particular issue specific to the
Committee (KIPER). Bank.
The submitted reports comprise of the following Integrated stress testing result related to capital will be
information: used by the Bank among others to determine the level
a. Risk Appetite Statement dashboard of capital reserves in stress conditions during the annual
b. Overall risk exposure that covers exposures on each capital planning process and to establish the Bank’s
risk type and each type of functional activity. Capital Contingency Plan.
c. Compliance to policies and procedures, and assigned
limit. In connection with liquidity risk, stress testing can be used
d. Realization of risk management implementation to assess liquidity sufficiency and liquid asset reserves on
against the set targets and objectives. hand as well as prevention and resolution steps in the
Bank’s Contingency Funding Plan).
STRESS TESTING IN RISK MANAGEMENT
The Bank performs stress testing periodically to ascertain RISK MANAGEMENT STRATEGY AND
the impact of significant changes in the external MITIGATION PROCESS
conditions on the Bank’s performance, liquidity and The Bank deploys a risk management strategy, among
capitalization. others through policies and procedures, limits setting,
stress testing, hedging, insurance and others by taking
The scope of stress testing covers all types of the main into account adequate risk and returns factor and its
risks, namely credit risk (including wholesale and retail alignment with the Bank’s risk appetite and business
segments), market risk (covering interest rate and strategy.
exchange rate risks) and liquidity risk. There are several

LEVERAGE RATIO
Table 4.a. Disclosure Quantitatif - Leverage Ratio
TOTAL EXPOSURE IN THE LEVERAGE RATIO REPORT FORMAT

in million Rupiah
No. Information Amount

1 Total asset in financial position report in the published financial statement. (gross value before deducted by 293,612,417
allowance to impairment losses).
2 Adjustments to the value of investments in banking, financial institutions, insurance entities, and/or other entities -
that are consolidated based on accounting standard but outside the scope of consolidation based on the provisions
of the Financial Services Authority.
3 "Adjustments to the value of the underlying set of financial assets that have been transferred in asset securitization -
that meet the requirements of sell-off as stipulated in the Financial Services Authority Regulation concerning the
precautionary principle in asset securitization activities for commercial banks.
In the event that the underlying financial asset has been deducted from the total assets on the statement of financial
position, the number in this line is 0 (zero)."
4 Adjustment to the temporary exemptions for current account placement with Bank Indonesia to meet the minimum -
statutory reserve requirements (if any).
5 Adjustment for fiduriary assets recognized as a component of the statement of financial position are based on
financial accounting standards but excluded from the leverage ratio exposure calculation.
6 Adjustments to the purchase or sale value of financial assets on a regular basis using the trading date accounting method. (8,291,314)
7 Adjustments to the value of cash pooling transactions that meet the requirements as regulated in these Financial -
Services Authority Regulations.
8 Adjustments for derivative transaction exposure. 1,290,978
9 Adjustment for securities financial transactions (ex. Reverse Repo Transactions). 197,465
10 Adjustment for Administrative Account Transaction Exposures (ie. Conversion to credit equivalent amounts of 7,890,604
Administrative Account Transaction Exposures).
11 Adjustment of prudential assessment in the form of capital deduction and Allowance of impairment losses. (14,558,267)
12 Other adjustments. 0
13 Total Exposure in Leverage Ratio calculation. 280,141,884
Table 4.b. Disclosure Quantitatif - Leverage Ratio
TOTAL EXPOSURE IN THE LEVERAGE RATIO REPORT FORMAT

in million Rupiah
Period
No. Information
T T-1
Asset Exposure in Statements of Financial Position
1 On balance sheet items excluding derivatives and SFT's, but including collateral (Gross value before 293,612,417 293,599,529
deducted by Allowance of impairment losses)
2 Re-add value for derivative collateral submitted to the counterparty which results in a decrease in - -
total asset exposure in the balance sheet due to the application of financial accounting standards
3 (Deduction of receivables related to CVM given in derivative transactions) - -
4 (Adjustments to the carrying amount of securities received in SFT exposures recognized as assets) (2,305,523) (4,983,843)
5 (Allowance of impairment losses for these assets is in accordance with financial accounting (12,512,633) (11,744,037)
standards)

Period
No. Information
T T-1
6 (Assets that have been calculated as a deduction factor for Tier 1 Capital as referred to in the (11,735,960) (7,568,920)
Financial Services Authority Regulation regarding the obligation to provide minimum capital for
commercial banks)
7 "Total Exposure of assets in the statement of financial position 267,058,301 269,302,729
Sum of lines 1 to 6"
Derivative Transaction Exposures
8 RC value for all derivative transactions, whether there is a variation margin that meets the 1,828,650 1,835,238
requirements or a write-off agreement that meets certain requirements
9 Value added which is PFE for all derivative transactions 861,340 716,143
10 (Exceptions for exposure of derivative transactions settled through central counterparty
transactions (CCP))
11 Adjusted effective notional amount of credit derivatives - -
12 (Adjustments to effective notional values carried out offsetting and reduction of add-ons for credit - -
derivative sales transactions)
13 "Total Derivative Transaction Exposure 2,689,990 2,551,381
Securities Financing Transaction (SFT) Exposures
14 The carrying value of SFT assets is gross 11,159,632 9,519,517
15 (Net value of cash payables and cash receivables) (8,656,643) (4,458,520)
16 Credit Risk due to failure counterparties in relation to SFT assets which refers to the calculation of - -
current exposure as stipulated in the Appendix to this Regulation of the Financial Services Authority
17 Agent SFT Exposure - -
18 "SFT Total Exposures 2,502,989 5,060,997
Administrative Account Transaction (AAT) Exposures
19 "Value of all commitment or contingent liabilities 80,432,699 77,934,347
Gross value before deduction of Allowance of impairment losses "
20 (Adjustments to the commitment or contingent liabilities for the conversion of the value of credit (72,542,095) (70,805,331)
equivalent amounts are then reduced by the allowance for impairment losses)
21 (Allowance of impairment losses of administration account transaction according to financial - -
accounting standard)
22 "Total AAT Exposure 7,890,604 7,129,016
Capital and Total Exposure
23 Tier 1 Capital 38,950,511 37,762,164
24 "Total Exposures 280,141,884 284,044,123
Sum of lines 7, 13, 18, and 22"
Leverage Ratio
25 Value of Leverage Ratio, including the impact of adjustments to temporary exceptions to the 13.90% 13.29%
placement of current accounts with Bank Indonesia in the context of meeting the minimum
statutory reserves (if any)
25a Value of Leverage Ratio, excluding the impact of adjustments to temporary exceptions to the 13.90% 13.29%
placement of current accounts with Bank Indonesia in the context of meeting the minimum
statutory reserve requirements (if any)
26 Minimum Leverage Ratio Value 3% 3%
27 Bearing to the Leverage Ratio vaue N/A N/A
Disclosure of Average Values
28 Average value of the carrying value of SFT assets on a gross basis, after adjustments for sale - -
accounting transactions which are calculated on a net basis (net) with cash liabilities in SFT and
cash receivables in SFT
29 The quarterly end value of the report on the gross carrying value of SFT assets, after adjustments - -
for sale accounting transactions which are calculated on a net basis (net) with cash liabilities in SFT
and cash receivables in SFT

Period
No. Information
T T-1
30 Total Exposure, including the impact of adjustments to the temporary exemption on current 280,141,884 284,044,123
account placements with Bank Indonesia in order to comply with the statutory reserve requirement
(if any), which includes the average value of the gross carrying value of SFT assets as referred to in
line 28
30a Total Exposure, excluding the impact of adjustments to the temporary exemption on current 280,141,884 284,044,123
line 28
31 Leverage Ratio, including the impact of adjustments to the temporary exemption on current 13.90% 13.29%
line 28
31a Leverage Ratio excluding the impact of adjustments to the temporary exemption on current 13.90% 13.29%
line 28
*
T is current quarter period, T-1 is the first period of the previous quarter
The leverage ratio of CIMB Niaga on a consolidated basis in September 2020 (T) is 13.29%, decrease 0.3% compared to June 2020 (T-1). This
decrease was mainly due to the increase in the exposure value of 9.6 trillion, which mainly derived from the increase in the asset exposure
value in the financial position report of 9.2 trillion.
CREDIT RISK
1. Disclosure of Credit Risk Exposure and Implementation portfolios and sectors that could potentially be
of Credit Risk Management affected by COVID-19 in China and several Asian
Credit risk is a risk arising from the failure of debtor countries.
and/or other parties to fulfill their obligations to the b. Establish credit restructuring framework related to
Bank. Included in credit/financing risks are risk due relaxation from OJK, including the FAQ, standard
to debtor/customer failures, risk due to concentrated template form to ensure that restructuring
funds (Credit Concentration/financing Risks),, risk due provided for deserving debtors as stipulated by
to counterparty credit risk, risk due to settlement risk the regulator.
and risk due to country risk. c. Conduct Thematic Portfolio Review and Stress
Test on debtors that are potentially affected by
In 2020, economic conditions are extremely challenging the pandemic.
due to the impact of COVID-19. The weakening d. Close monitoring towards affected debtors,
economic activities, both sectoral and general terms, classifying them into a Watchlist and supported
has adversely affected the financial condition of debtors with improvement in the Bank’s risk infrastructure
and their ability to meet repayment obligation to the especially that of the automated monitoring
Bank. As such, the Bank has undertaken necessary process.
actions to mitigate the rise of credit risk due to the e. Risk appetite adjustment and additional approval
pandemic, in a forward looking mode as follows: level during the pandemic, for affected sectors.
a. Early identification, it conducted before the f. Managing the impact on credit provisioning by
pandemic started in Indonesia, on several conducting among others loss forecasting as
inputs to the business unit.

CIMB Niaga has established credit risk management organization tool in all lines, in order to build and maintain
the Bank’s credit activities in accordance with prudential banking principles, prevailing regulations, and the Bank’s
appetite. In general, working unit that responsible for credit organization including:
1st Line of Defense 2nd Line of Defense 3rd Line of Defense
Credit Unit
Business Unit (Transactional Level) Internal Audit Unit
SKMR (Portfolio Level)
GOVERNANCE In managing risks, the Risk management director heads the

The Board of Commissioners and Board of Directors actively Credit Approver Unit that manages risk at the transactional
perform supervisory roles through periodic evaluations of level for commercial and corporate banking segments; and
credit risk management implementation. To support this, the Risk Management Unit (SKMR) that manages credit
the Bank established Executive Committees both at the risk at the portfolio level. In addition, SKMR is assigned
Board of Commissioners and Board of Directors levels. to facilitate active supervisory function of the Board of
• The Board of Commissioners is assisted by the Risk Commissioners and the Board of Directors on credit risk
Oversight Committee (KIPER) who works side by side among others through:
with the Audit Committee and the Nomination and a. Coordination of the Risk Management Strategy, Risk
Remuneration Committee. Management Policy, Risk Appetite and Risk Limit related
• At the Board of Directors level, the Bank’s risk to credit risk;
management and control including credit risk is the b. Monitoring the implementation of Strategy, Policy,
responsibility of the Risk Management Committee Appetite and Limit related to credit risk;
(KMR) and Credit Policy Committee (KKP) which c. Development and refinement of the Risk Management
specifically conducts discussions, reviews and approvals Framework related to credit risk;
of credit policies. Both committees are directly led by d. Credit model development and validation;
the President Director. e. Reviewing the approved credit proposals.
• At the transactional level, the Bank delegates the
authority on credit approval to the Credit Committee In addition to SKMR, there are other units that are involved
and also in the form of Joint Delegated Authority or in managing credit risk in their respective lines. These are:
Single Limit Holder. The Credit Committee consists of a. The Business Unit, both retail and non-retail, which
Directors and Senior Management whereby levels of prepare credit applications including feasibility
authority tailored to the level of risk and competence of analysis of the prospective customer;
the decision makers. b. For retail credit (consumption), the analysis/review,
• In terms of managing existing debtor’s quality, the Bank approval and administration processes are conducted
also has Asset Quality Committee, which is responsible by Consumer Credit Underwriting Unit, while the
for providing approval and direction for handling or handling of nonperforming loans is conducted by the
resolving non-performing loans. Consumer Collection and Recovery Unit. This unit is
under the Consumer Banking Directorate, but when
The Risk management director is responsible for managing performing its function is restricted by policies, risk
risks at transactional level and portfolio level, including strategies, and credit models set by the SKMR;
those that are related to the credit policies management/ c. The Credit Approver, can be a Committee, a Joint
administration and credit risk exposure limit. Delegated Authority or Single Limit Holder whose
members or individuals are either Director or Senior
Management or other Bank Officials who have
been appointed and are responsible for approving

transactional credit at an authorization level that is To ensure credit risk exposures in accordance with the risk
set according to certain risk and competence levels. appetite, the Bank assigns limits, which among others limits
The credit decision is taken based on feasibility for credit decision making authority which are tailored to
by considering the prudential principles, the risk the decision-making competencies and risk levels.
appetite of the Bank, and efforts to avoid conflicts of
interest; In addition, Bank has adequate policies and methodologies
d. The Credit Administration Unit is responsible for to monitor and manage the concentration of credit
administering credit facility after obtaining approval portfolios with the following details:
from the Credit Committee and has undergone • The Legal Lending Limit (LLL) framework, which is a
binding agreement assisted by Legal Unit. The limit mechanism or maximum percentage for lending
Credit Administration Unit must ensure that all that are permitted against the Bank’s capital based
documentation pertaining to the credit have met all on regulatory requirements as well as more stringent
requirements; internal limitation.
e. The Assurance Testing Unit in Non-Retail Credit • Sector Limit, is a mechanism to determine the
is responsible in performing review and prepare maximum limit of credit exposure for a particular
the report on new and existing customers on the sector by considering the appetite as well as
basis of risk-based sampling on the viability of the the potential of risks of the sector in Indonesia.
initiating process, analysis, approval and accounting Furthermore, periodically the Bank’s credit exposure
of the credit, as well as ensuring that all internal in each sector will be monitored so as not to exceed
and external rules have been met and that the the set limits.
monitoring of debtors are carried out in completely • Risk Posture, which describes the direction of the
and comprehensively. In this case recommendations strategy for credit risk acceptance based on the Bank’s
on improvements to the credit process are provided segmentation; the monitoring of which includes the
from time to time to ensure that improvements are requirements for each business unit to comply with
being carried out holistically; the risk limits in each portfolio.
f. The Non-performing Loan Resolution Unit is in • Exposure Limit Review (ELR), is the review process
charge of executing actions needed to handle non- of the maximum exposure limit that the Bank can
performing loans, such as: collection, restructuring provide for each retail portfolio (consumption).
and litigation efforts. ELR review and approval process is conducted
regularly and periodically (every year/every two
POLICY, PROCEDURE AND ESTABLISHMENT years). Furthermore, credit exposures for each retail
OF LIMIT portfolio are monitored regularly to ensure that they
CIMB Niaga has credit policies as a guidelines for credit do not exceed the approved limits.
process both for conventional and sharia schemes
through the Commercial Credit Principle Policy and THE RISK MANAGEMENT PROCESS THE RISK
Sharia Commercial Financing Principle Policy. The policy is MANAGEMENT PROCESS
operationally elaborated further in the Commercial Credit 1. Credit Risk Measurement
Policy, and the Commercial Sharia Financing Policy as well In the Bank’s business activities, credit risk is assessed
as various more detailed procedures as a guideline for based on the credit worthiness or the customer’s
the Bank in approving d loans to always comply with the assets quality. The criteria currently used by the Bank
prudential principles at all times. In Risk Management Unit in determining credit worthiness are:
(SKMR) there are also Wholesale & Commercial Credit Policy a. Delinquency status, which is one of the
unit that collaborates with business units to periodically considerations in determining collectability status;
review credit policies and procedures. b. Watch List status, the result of early detection (Early
Recognition Watch-List/ERWL) before customers are

categorized as Impaired. A description of ERWL is d) Sector Risk Acceptance Criteria (RAC), a criteria
presented under monitoring and controlling credit used as a pre-screening tool in selecting
risk section below; debtors in certain sectors according to risk
c. Internal ratings: currently the Bank has been appetite.
implemented ICRES (Internal Credit Rating System) e) Thematic Portfolio Review, a review process
for corporate and commercial customer internal for debtors who are exposed to a thematic risk;
rating models, as well as the Centralized Retail in this case, the volatility of macroeconomic
Decision Engine (CRDE) system for internal model indicators. For example, in 2020 special
scoring implementation for retail customers to assessment is performed for debtors that are
improve the quality of the risk measurement indicated to be affected by macroeconomic
process for both new and existing customers. changes or certain risk factors, especially that
of the COVID-19 pandemic.
Furthermore, the credit worthiness and the quality
of credit risk mitigation will serve as the basis for The Bank’s control over transactional
determining credit provision adequacy level. Credit monitoring mechanism result comprises:
risk will realize into credit loss if non-performing (i) adjustment to account planning and
loans cannot be recovered, and as a consequence credit requirements, (ii) early restructuring
the Bank must perform write offs, either in total or in proposals (iii) certain follow-up requests to
portion. customers - according to the Bank’s capacity,
and/or (iv) adjustment of required credit
2. Monitoring and Managing Credit Risk provision amount.
1) At Transactional Level
a) Annual Review, a review mechanism for each 2) At Portfolio Level
credit facility on a regular basis at least once a a) Risk Appetite Statement Monitoring (credit
year to identify whether the customer’s credit risk section), is a monitoring of major credit
worthiness remains similar to the condition risk indicators at bank-wide level in order to
when the credit was approved; ensure compliance with the approved appetite
b) Early Recognition Watch List (ERWL), the and reported to KIPER in monthly basis.
identification of customer’s potential credit b) Risk Profile (credit risk section), which is
risk based on aspects such as: business an overview of risk condition based on the
prospects, financial conditions, and other indicators set by the regulator (Inherent Risk
factors that affect the customer’s repayment and Risk Management Quality).
ability. The outcome of ERWL is the Watch List c) Risk Report (credit risk section), is a report
status for each customer that shows its credit that contains credit portfolios monitoring and
worthiness. Since 2018, the ERWL has not only analysis which include (i) general description of
been implemented or large and medium-sized composition, concentration level, and quality
customers; but has also been applied to small of assets/loan portfolios, (ii) trend movement,
debtors in the SME segment; and (iii) specific areas that require attention
c) Sector Appetite (Cautious), which influences from the Directors. Risk Report is reported
the business process by requiring all credit on monthly basis to the KMR and KIPER in
proposals for sectors with cautious appetite to order to facilitate credit risk management
obtain approval one level above the applicable function by the Board of Directors as well as
JDA with minimum approval at the JDA level A. risk management oversight by the Board of
Special Treatment in the form of pre-clearance Commissioners.
is also carried out for Cautious sectors that are
affected by COVID-19.

d) BMPK Limit Monitoring, Sector Limit CIMB Niaga has implemented an accounting system in
Monitoring and Risk Posture Tracking as accordance with prevailing regulations and manages an
explained in the previous section, in order effective information and communication system in the
to monitor the suitability of conditions and credit risk management process. Monitoring of credit risk
movement of loan portfolio against approved exposures is conducted regularly and corrective actions
limits. are taken immediately so that credit risk is managed in
e) Asset Quality and Provision Forecast, in order accordance with the Bank’s risk tolerance limits. Should
to predict the level and amount of asset quality there be any deviation, the Bank will take the necessary
and credit provision based on historical data. steps to return the risk to an acceptable level through
f) Stress Test (for Credit Risk), which is conducted a process involving senior management or the relevant
at least twice in a year to estimate credit risk executive committee in accordance with the level of the
exposure, as well as potential deterioration in deviation.
credit quality under various stress conditions
or scenarios. Credit risk control system review is conducted by SKMR and
SKAI in accordance with the applicable Risk Management
In general, the purpose of the various methods of Policy. Periodic internal audits have also been conducted
monitoring the credit portfolio above is to capture by Internal Audit and followed up by related units. In
signs of deterioration as early as possible so that addition, to improve the risk control process, the Bank has
the necessary credit risk control could be taken established an anti-fraud unit, which among others aims to
such as: strategies, policies, appetites, or limits foster risk awareness of the Bank’s business processes.
adjustment on credit risk exposure, as well as to
ensure the adequacy of provision and capital to DEFINITION OF MATURED CLAIMS
control credit risk. Mature claims are those that are overdue for more than 90
(ninety) days, both for principal payments and/or interest
In terms of reporting, CIMB Niaga implements the payments.
state-of-the-art Business Intelligence (BI) Tools to
facilitate management in receiving high-level and DEFINITION OF IMPAIRMENT
detailed information related to credit risk indicators A claim that has dropped in value/impaired is determined
in a more effective way. With these tools, the based on the financial assets or groups of financial assets,
process of reporting and monitoring risks can be and only if, there is objective evidence of impairment as a
more efficient, so that risk management decisions result of one or more events that occurred after the initial
and strategies could be determined earlier. recognition of the asset (loss event), which has an impact
on the estimated future cash flows of the financial assets
INTERNAL CONTROL or groups of financial assets that can be estimated reliably.
CIMB Niaga has internal control system for credit risk
management that includes regular monitoring by the Board The criteria adopted by CIMB Niaga to determine objective
of Commissioners and Board of Directors, and a control evidences of impairment are as follows:
culture of control that involves all lines of business. The a. Significant financial difficulties experienced by the
Bank has a system for identifying and assessing credit risk, issuer or borrower.
as well as controlling activities with a clear segregation of b. The occurrence of defaults or delinquent in principal or
functions in managing risks. interest payments.
c. The observable data that indicate a measurable
decrease in the estimated future cash flows of the
group of financial assets since the initial recognition

of the asset, even though the decline has not yet been Calculation method/ECL measurement is as follows:
identified individually in the asset group, including 1. Individual Assessment: calculated based on
deteriorating payment status of borrowers in the group. discounted cash flow and fair value of collateral.
d. The loss of an active market from financial assets due to 2. Collective Assessment: calculated based on
financial difficulties. Probability of Default (PD), Loss Given Default (LGD),
and Exposure at Default (EAD).
APPROACH FOR IMPAIRMENT PROVISION a. PD is calibrated with a period of up to 12 months
In 2020, the approach for impairment provisionis from date of report (stage 1) or over the assets
calculated based on the new accounting standard, lifetime (stages 2 and 3), combined with the
PSAK 71, “Financial Instrument” that replaces PSAK 55, assumed impact of future economy that has a
“Financial Instruments: Recognition and Measurement,” component of credit risk.
by using the terminology “Expected Credit Loss” (ECL). b. LGD is estimated based on historical data of
Based on PSAK 71, the calculation of ECL is divided as the recovery rate as well as accounting for the
follows: recovery of assets from collaterals including
haircuts with assumption on the future economy.
1. Stage 1 c. EAD combines the impact of annulling facilities
- For financial assets that have not had a Significant that commit to repayment of principal
Increase Credit Risk (SICR) since the beginning and interest, amortization and accelerated
of recognition or that have low credit risk on the repayment, along with the assumed impact of
date of reporting. future economy, if relevant. EAD is determined
- The ECL calculation is based on 12 months. by a number of factors including lending limit and
credit conversion factor (CCF).
2. Stage 2
- For financial assets that already have a Significant The methodology for calculation/measurement of
Increase Credit Risk/SICR since the beginning ECL in PSAK 71 has not been applied to sharia-based
of recognition but have not shown objective transactions. This was made clear in ISAK (Interpretation
evidence of the impairment. of Standard Financial Accounting) 102, which is that
- The ECL calculation is based on the lifetime of entities are not allowed to change the prevailing
assets. accounting treatment on impairment (specially for
murabahah receivables), including the methodology for
3. Stage 3 impairment in PSAK 71 that uses expected loss, until
- For financial assets that already shown such time the PSAK will have established the treatment
impairment/payment default (assets that are at for assets impairment that arises from the sharia-based
least 90 days overdue on principal and/or interest transactions.
payment or have certain collectability level).
- The ECL calculation is based on the lifetime of
assets.

QUANTITATIVE DISCLOSURE OF CREDIT RISK
5.a.1. Disclosure of Net Claims Based on Region - Bank Only
Position 31 December 2020

No. Portfolio Category Net Receivables Based on Region
Jabodetabek West Java Central Java East Java Sumatera East Indonesia
(1) (2) (3) (4) (5) (6) (7) (8)
1 Claims on Sovereigns 70,109,223 - - - - -
2 Claims on Public Sector 16,131,015 - - - 15,904 -
Entities
3 Claims on Multilateral - - - - - -
Development Banks and
International Institutions
4 Claims on Banks 8,452,616 200,606 431,849 61,127 796,996 1,064,763
5 Claims Secured by Residential 20,686,894 1,505,358 1,235,998 1,999,693 3,149,022 1,561,594
Properties
6 Claims Secured by Commercial 5,007,274 87,168 138,347 277,694 580,534 267,537
Properties
7 Claims on Emloyees Retiree - - - - - -
8 Claims on Micro, Small 15,877,409 283,272 121,020 149,576 420,315 347,679
Business and Retail Portfolio
9 Claims on Corporate 73,230,364 5,167,871 5,897,142 6,236,200 8,060,616 4,959,518
10 Past Due Loans 1,635,018 80,152 266,977 445,300 301,277 130,890
11 Other Assets 15,459,825 730,692 920,941 724,286 691,393 628,739
Total 226,589,637 8,055,118 9,012,274 9,893,877 14,016,057 8,960,720
5.a.2. Disclosure of Net Claims Based on Region - Bank on Consolidated Basis with Subsidiaries

No. Portfolio Category Net Receivables Based on Region
(1) (2) (3) (4) (5) (6) (7) (8)
1 Claims on Government 70,109,223 - - - - -
2 Claims on Public Sector 16,131,015 - - - 15,904 -
Entities
4 Claims on Banks 8,554,676 200,606 431,849 61,127 796,996 1,064,763
5 Claims Secured by Residential 20,686,894 1,505,358 1,235,998 1,999,693 3,149,022 1,561,594
Properties
6 Claims Secured by Commercial 5,007,274 87,168 138,347 277,694 580,534 267,537
Properties
7 Claims on Employees Retiree - - - - - -
8 Claims on Micro, Small and 18,418,374 283,272 121,020 149,576 420,315 347,679
Retail Portfolios
9 Claims on Corporates 73,388,207 5,167,871 5,897,142 6,236,200 8,060,616 4,959,518
10 Past Due Loans 1,649,211 80,152 266,977 445,300 301,277 130,890
11 Other Assets 15,941,452 730,692 920,941 724,286 691,393 628,739
Total 229,886,326 8,055,118 9,012,274 9,893,877 14,016,057 8,960,720

in million Rupiah

Net Receivables Based on Region
Total Jabodetabek West Java Central Java East Java Sumatera East Indonesia Total
(9) (10) (11) (12) (13) (14) (15) (16)
70,109,223 44,859,482 - - - - - 44,859,482
16,146,919 19,278,714 - - - 9,833 - 19,288,548
- - - - - - - -
11,007,957 6,851,344 252,683 514,621 39,553 956,790 966,547 9,581,538

30,138,560 20,404,645 1,514,550 1,219,425 1,765,550 2,942,437 1,526,771 29,373,378
6,358,554 5,839,742 118,472 372,562 371,288 753,300 216,312 7,671,675
- - - - - - - -
17,199,270 16,799,355 321,285 132,404 167,315 396,750 376,446 18,193,554
103,551,711 84,925,049 5,260,859 9,372,744 11,118,799 9,575,600 5,516,997 125,770,047

2,859,614 1,186,681 110,538 249,327 255,776 466,198 203,262 2,471,782
19,155,875 14,630,997 742,343 1,101,606 813,047 746,087 748,961 18,783,040
276,527,683 214,776,008 8,320,728 12,962,688 14,531,328 15,846,995 9,555,295 275,993,043
in million Rupiah

Net Receivables Based on Region
(9) (10) (11) (12) (13) (14) (15) (16)
70,109,223 44,859,482 - - - - - 44,859,482
16,146,919 19,278,714 - - - 9,833 - 19,288,548
- - - - - - - -
11,110,017 6,875,130 252,683 514,621 39,553 956,790 966,547 9,605,324

30,138,560 20,404,645 1,514,550 1,219,425 1,765,550 2,942,437 1,526,771 29,373,378
6,358,554 5,839,742 118,472 372,562 371,288 753,300 216,312 7,671,675
- - - - - - - -
19,740,235 19,319,774 321,285 132,404 167,315 396,750 376,446 20,713,974
103,709,554 85,103,161 5,260,859 9,372,744 11,118,799 9,575,600 5,516,997 125,948,159

2,873,807 1,199,537 110,538 249,327 255,776 466,198 203,262 2,484,637
19,637,503 14,978,524 742,343 1,101,606 813,047 746,087 748,961 19,130,567
279,824,372 217,858,709 8,320,728 12,962,688 14,531,328 15,846,995 9,555,295 279,075,744

5.b.1. Disclosure of Net Claims by Remaining Term of Contract - Bank Only

Net receivables by Contractual Remaining Maturity
No. Portfolio Category
< 1 year > 1 - 3 years > 3 - 5 years > 5 years
(1) (2) (3) (4) (5) (6)

1 Claims on Government 34,174,105 8,358,390 14,801,647 12,775,081
2 Claims on Public Sector Entities 3,259,581 1,242,792 1,136,385 10,508,160
3 Claims on Multilateral Development Banks and International - - - -
Institutions
4 Claims on Banks 6,658,581 2,431,117 1,145,152 773,108
5 Claims Secured by Residential Properties 141,457 1,238,913 2,331,747 26,426,443
6 Claims Secured by Commercial Properties 252,924 1,703,324 1,953,620 2,448,686
7 Claims on Employee Retiree - - - -
8 Claims on Micro, Small and Retail Portfolios 5,862,585 5,609,651 4,236,876 1,490,159
9 Claims on Corporates 59,678,143 12,969,040 11,772,006 19,132,522
10 Past Due Loans 1,167,866 895,585 119,221 676,942
11 Other Assets 3,659 - - -
Total 111,198,901 34,448,812 37,496,654 74,231,101
5.b.2. Disclosure of Net Claims by Remaining Term of Contract - Bank Consolidated with Subsidiaries

< 1 year > 1 - 3 years > 3 - 5 years > 5 years
(1) (2) (3) (4) (5) (6)

1 Claims on Government 34,174,105 8,358,390 14,801,647 12,775,081
2 Claims on Public Sector Entities 3,259,581 1,242,792 1,136,385 10,508,160
3 Claims on Multilateral Development Banks and International - - - -
Institutions
4 Claims on Banks 6,760,641 2,431,117 1,145,152 773,108
5 Claims Secured by Residential Properties 141,457 1,238,913 2,331,747 26,426,443
6 Claims Secured by Commercial Properties 252,924 1,703,324 1,953,620 2,448,686
8 Claims on Micro, Small and Retail Portfolios 8,403,550 5,609,651 4,236,876 1,490,159
9 Claims on Corporates 59,835,986 12,969,040 11,772,006 19,132,522
10 Past Due Loans 1,182,059 895,585 119,221 676,942
11 Other Assets 3,659 - - -
Total 114,013,962 34,448,812 37,496,654 74,231,101

in million Rupiah

Non Non
Total < 1 year > 1 - 3 years > 3 - 5 years > 5 years Total
Contractual Contractual
(7) (8) (9) (10) (11) (12) (13) (14)
- 70,109,223 37,075,539 1,836,324 4,106,909 1,840,709 - 44,859,482
- 16,146,919 4,745,457 2,269,655 2,699,734 9,573,701 - 19,288,548
- - - - - - - -
- 11,007,957 4,991,419 1,391,355 2,177,048 1,021,716 - 9,581,538

- 30,138,560 204,063 1,285,460 2,388,000 25,495,854 - 29,373,378
- 6,358,554 217,117 1,346,140 2,585,469 3,522,949 - 7,671,675
- - - - - - - -
- 17,199,270 7,040,620 6,188,241 3,486,749 1,477,945 - 18,193,554
- 103,551,711 74,067,997 11,745,169 20,086,775 19,870,106 - 125,770,047
- 2,859,614 1,432,208 456,621 133,996 448,957 - 2,471,782
19,152,216 19,155,875 3,659 - - - 18,779,381 18,783,040
19,152,216 276,527,683 129,778,078 26,518,966 37,664,679 63,251,938 18,779,381 275,993,043
in million Rupiah

Non Non
Total < 1 year > 1 - 3 years > 3 - 5 years > 5 years Total
Contractual Contractual
(7) (8) (9) (10) (11) (12) (13) (14)
- 70,109,223 37,075,539 1,836,324 4,106,909 1,840,709 - 44,859,482
- 16,146,919 4,745,457 2,269,655 2,699,734 9,573,701 - 19,288,548
- - - - - - - -
- 11,110,017 5,015,205 1,391,355 2,177,048 1,021,716 - 9,605,324

- 30,138,560 204,063 1,285,460 2,388,000 25,495,854 - 29,373,378
- 6,358,554 217,117 1,346,140 2,585,469 3,522,949 - 7,671,675
- - - - - - - -
- 19,740,235 9,561,040 6,188,241 3,486,749 1,477,945 - 20,713,974
- 103,709,554 74,246,110 11,745,169 20,086,775 19,870,106 - 125,948,159
- 2,873,807 1,445,063 456,621 133,996 448,957 - 2,484,637
19,633,844 19,637,503 3,659 - - - 19,126,908 19,130,567
19,633,844 279,824,372 132,513,252 26,518,966 37,664,679 63,251,938 19,126,908 279,075,744

5.c.1. Disclosure of Net Claims By Economic Sector - Bank Only
Receivables
From
Receivables Receivables Multilateral
No. Economic Sector From From Public Development
Government Sector Entities Banks and
International
Institutions
(1) (2) (3) (4) (5)
1 Agriculture, Hunting, and Fisheries - - -
2 Mining and Excavation - - -
3 Manufacturing - 729,860 -
4 Electricity, Gas, Steam/Hot and Cold Water - 3,460,835 -
5 Water Management, Waste Water Management, Waste Management and - - -
Recycling
6 Construction - 5,421,219 -
7 Wholesale and retail trading; Car and Motorcycle Reparation and Maintenance - 1,708,358 -
8 Transport and Warehouse - 1,741,657 -
9 Accomodation, food and beverage supply - - -
10 Information and Communication - 0 -
11 Finance and Insurance Activities - 451,736 -
12 Real Estate - - -
13 Profession, Scientific, and Technical Activities - 8,523 -
14 Rental and Leasing Activities without Option Rights, Employment, Travel Agencies, - 601,310 -
and Other Business Support
15 Government Administration, Defence, and Mandatory Social Security - - -
16 Education - - -
17 Human Health Activities and Social Activities - - -
18 Arts, Entertainment, and Recreation - - -
19 Other Services Activities - - -
20 Household as Employer Activities - - -
21 International and Other Extra International Activities - - -
22 Non-Business Activities - - -
23 Others 70,109,223 2,023,421 -
Total 70,109,223 16,146,919 -

in million Rupiah
Receivables
Loan Secured Loan Secured From Micro, Receivables
Receivables Employee/ Past Due
By Residential By Commercial Small, From Other Assets
From Banks Retiree Loan Receivables
Properties Properties and Retail Corporates
Portfolios
(6) (7) (8) (9) (10) (11) (12) (13)

- - 603,960 - 3,204 13,412,143 154,081 -
- - - - - 2,211,396 - -
- - 873,228 - 20,611 27,373,467 520,756 -
- - 12,863 - 551 380,442 - -
- - 1,512 - 500 90,583 - -
- - 63,249 - 1,740 4,325,598 106,047 -

- - 270,697 - 127,996 20,796,498 674,218 -
- - 145,322 - 883 884,510 8,565 -
- - 1,159,764 - 2,578 4,335,046 117,136 -
- - 5,821 - 990 2,332,743 4,527 -
2,886,300 - 25,454 - - 4,562,348 5,364 -
- - 2,127,430 - 2,542 4,770,866 121,563 -
- - 23,720 - 10,064 1,678,237 20,785 -
- - 4,968 - 1,428 1,517,118 13,335 -
- - - - - - - -
- - 8,679 - 1,073 28,999 - -
- - 198,983 - 1,175 322,456 - -
- - 64,549 - - 717,931 - -
- - 6,041 - 1,985,410 246,273 37,270 -
- - - - - 26,937 - -
- - - - - - - -
- 30,138,560 762,050 - 14,459,669 4,094,158 628,080 -
8,121,657 - 266 - 578,854 9,443,962 447,886 19,155,875
11,007,957 30,138,560 6,358,554 - 17,199,270 103,551,711 2,859,614 19,155,875

Receivables
From
International
Institutions
(1) (2) (3) (4) (5)
Recycling
10 Information and Communication - 150,384 -
14 Rental and Leasing Activities without Option Rights, Employment, Travel Agencies, - - -
16 Education - - -
23 Others 44,859,482 2,727,489 -
Total 44,859,482 19,288,548 -

in million Rupiah
Receivables
Portfolios
(6) (7) (8) (9) (10) (11) (12) (13)

- - 1,156,330 - 1,571 14,415,001 268,343 -
- - 216 - 124 1,955,014 - -
- - 1,193,449 - 20,862 35,542,819 743,877 -
- - 15,653 - 535 726,935 11,827 -
- - - - 494 90,078 - -
- - 60,161 - 2,240 4,910,867 108,778 -

- - 385,898 - 110,468 26,226,678 443,057 -
- - 288,472 - 561 1,804,714 13,213 -
- - 1,414,800 - 2,403 4,507,200 21,122 -
- - 6,204 - 985 3,001,707 11,960 -
3,266,982 - 39,939 - - 6,862,122 10,131 -
- - 2,365,556 - 1,081 6,640,216 19,664 -
- - 52,612 - 14,715 2,047,309 25,047 -
- - 6,467 - 2,134 1,578,113 13,741 -
- - - - - - - -
- - 12,352 - 50 34,351 - -
- - 171,092 - 1,436 407,749 - -
- - 69,541 - - 816,872 - -
- - 6,922 - 1,513,367 306,366 26,605 -
- - - - - 24,827 - -
- - - - - - - -
- 29,373,378 426,012 - 15,877,086 3,441,150 752,972 -
6,314,556 - - - 643,443 10,429,959 1,445 18,783,040
9,581,538 29,373,378 7,671,675 - 18,193,554 125,770,047 2,471,782 18,783,040

5.c.2. Disclosure of Net Claims by Economic Sector - Bank on a Consolidated Basis with Subsidiaries
Receivables
From
International
Institutions
(1) (2) (3) (4) (5)
Recycling
10 Information and Communication - 0 -
14 Rental and Leasing Activities without Option Rights, Employment, Travel Agencies, - 601,310 -
16 Education - - -
23 Others 70,109,223 2,023,421 -
Total 70,109,223 16,146,919 -

in million Rupiah
Receivables
Portfolios
(6) (7) (8) (9) (10) (11) (12) (13)

- - 603,960 - 8,436 13,412,143 154,081 -
- - - - 13,330 2,214,741 - -
- - 873,228 - 34,725 27,378,149 520,756 -
- - 12,863 - 1,569 380,442 - -
- - 1,512 - 500 90,583 - -
- - 63,249 - 7,923 4,328,049 106,077 -

- - 270,697 - 152,060 20,800,065 674,785 -
- - 145,322 - 1,873 885,891 8,565 -
- - 1,159,764 - 8,670 4,336,740 118,770 -
- - 5,821 - 1,574 2,332,743 4,527 -
2,886,300 - 25,454 - 7,952 4,562,348 5,364 -
- - 2,127,430 - 18,172 4,772,019 121,749 -
- - 23,720 - 28,061 1,680,922 20,807 -
- - 4,968 - 6,941 1,517,118 14,118 -
- - - - 748 - - -
- - 8,679 - 3,342 30,090 - -
- - 198,983 - 3,084 322,456 - -
- - 64,549 - 929 717,931 - -
- - 6,041 - 2,008,814 247,306 37,280 -
- - - - 1,731 26,937 - -
- - - - - - - -
- 30,138,560 762,050 - 16,850,948 4,228,918 639,043 -
8,223,717 - 266 - 578,854 9,443,962 447,886 19,637,503
11,110,017 30,138,560 6,358,554 - 19,740,235 103,709,554 2,873,807 19,637,503

Receivables
From
International
Institutions
(1) (2) (3) (4) (5)
Recycling
10 Information and Communication - 150,384 -
14 Rental and Leasing Activities without Option Rights, Employment, Travel Agencies, - - -
16 Education - - -
23 Others 44,859,482 2,727,489 -
Total 44,859,482 19,288,548 -

in million Rupiah
Receivables
Portfolios
(6) (7) (8) (9) (10) (11) (12) (13)

- - 1,156,330 - 9,127 14,415,001 268,343 -
- - 216 - 13,824 1,959,031 - -
- - 1,193,449 - 36,266 35,544,211 743,882 -
- - 15,653 - 1,113 726,935 11,827 -
- - - - 494 90,078 - -
- - 60,161 - 12,575 4,910,867 108,778 -

- - 385,898 - 143,634 26,234,198 443,057 -
- - 288,472 - 1,158 1,804,714 13,213 -
- - 1,414,800 - 12,712 4,507,200 21,122 -
- - 6,204 - 1,652 3,001,707 11,960 -
3,266,982 - 39,939 - 9,690 6,862,122 10,131 -
- - 2,365,556 - 13,601 6,642,697 19,690 -
- - 52,612 - 30,820 2,048,432 25,047 -
- - 6,467 - 18,894 1,578,113 13,874 -
- - - - 1,081 - - -
- - 12,352 - 2,669 35,510 - -
- - 171,092 - 5,960 407,749 - -
- - 69,541 - 1,193 816,872 - -
- - 6,922 - 1,519,540 307,545 26,605 -
- - - - 3,595 24,827 - -
- - - - - - - -
- 29,373,378 426,012 - 18,230,929 3,600,392 765,663 -
6,338,342 - - - 643,443 10,429,959 1,445 19,130,567
9,605,324 29,373,378 7,671,675 - 20,713,974 125,948,159 2,484,637 19,130,567

Table 5.d.1 Disclosure of Claims and Allowances by Region - Bank Only

No. Description Region
(1) (2) (3) (4) (5) (6) (7) (8)
1 Loans 227,670,092 7,927,514 9,989,128 10,890,423 13,905,060 9,065,079
2 Impaired Loans (Stage 2 and
Stage 3)
a. Non-Past Due 10,335,965 288,496 1,442,167 1,203,978 268,653 172,550
b. Past Due 3,415,374 298,838 755,146 1,078,675 156,945 497,056
3 Allowance for Impairment 2,421,249 105,169 69,307 78,207 91,801 48,071
Losses - Stage 1
Losses - Stage 2
Losses - Stage 3
6 Write-Off 3,382,903 86,096 173,903 204,772 206,097 9,124
Table 5.d.2. Disclosure of Claims and Allowances By Region - Bank on a consolidated basis with Subsidiaries

No. Description Region
(1) (2) (3) (4) (5) (6) (7) (8)
1 Loans 231,073,134 7,927,514 9,989,128 10,890,423 13,905,060 9,065,079
2 Impaired Loans (Stage 2 and
Stage 3)
a. Non-Past Due 10,343,072 288,496 1,442,167 1,203,978 268,653 172,550
b. Past Due 3,534,201 298,838 755,146 1,078,675 156,945 497,056
Losses - Stage 1
Losses - Stage 2
Losses - Stage 3
6 Write-Off 3,458,519 86,096 173,903 204,772 206,097 9,124

in million Rupiah

Region
(9) (10) (11) (12) (13) (14) (15) (16)
279,447,296 211,198,679 8,091,470 13,172,373 14,959,808 15,668,423 9,601,908 272,692,662
13,711,809 723,707 4,336 206,411 389,978 19,552 176 1,344,160

6,202,035 3,677,157 371,555 489,438 590,465 613,022 284,937 6,026,574
2,813,804 - - - - - - -
3,571,644 - - - - - - -
6,176,637 - - - - - - -
4,062,895 1,611,657 46,247 146,653 62,281 19,799 30,467 1,917,103
in million Rupiah

Region
(9) (10) (11) (12) (13) (14) (15) (16)
282,850,338 214,359,661 8,091,470 13,172,373 14,959,808 15,668,423 9,601,908 275,853,644
13,718,916 723,707 4,336 206,411 389,978 19,552 176 1,344,160

6,320,862 3,698,530 371,555 489,438 590,465 613,022 284,937 6,047,947
2,860,296 - - - - - - -
3,594,354 - - - - - - -
6,214,162 - - - - - - -
4,138,511 1,682,677 46,247 146,653 62,281 30,467 19,799 1,988,123

Table 5.e.1. Disclosure of Claims and Allowances Based on Economic Sector - Bank Only
No. Economic Sector
(1) (2)
1 Agriculture, Forestry, and Fishery
2 Mining and Excavation
3 Manufacturing
4 Electricity, Gas, Steam/Hot Water and Cold Air
5 Water Management, Waste Water Management, Waste Management and Recycling
6 Construction
7 Wholesale and retail trading; Car and Motorcycle Reparation and Maintenance
8 Transport and Warehouse
9 Accomodation, food and beverage supply
10 Information and Communication
11 Finance and Insurance Activities
12 Real Estate
13 Profession, Scientific, and Technical Activities
14 Rental and Leasing Activities without Option Rights, Employment, Travel Agencies, and Other Business Support
15 Government Administration, Defence, and Mandatory Social Security
16 Education
17 Human Health Activities and Social Activities
18 Arts, Entertainment, and Recreation
19 Other Services Activities
20 Household Activities as Employer
21 International and Other Extra International Activities
22 Non-Business Activities
23 Others
Total

in million Rupiah
Impaired Receivables Allowance for Allowance for Allowance for

Receivables
Receivables Impairment Losses Impairment Losses Impairment Losses
Non-Past Due Past Due Written-Off
- Stage 1 - Stage 2 - Stage 3
(3) (4) (5) (6) (7) (8) (9)

13,938,116 125,539 270,027 243,764 14,869 177,031 -
2,045,843 186,844 - 69,510 2,299 55,317 -
31,640,526 3,912,814 702,877 504,654 719,111 1,690,240 -
2,885,283 - - 8,520 - - -
95,155 - - - - - -
9,889,551 213,559 302,917 140,024 156,124 126,269 -
27,751,640 5,657,239 - - - - -
2,318,715 276,367 2,522,402 128,308 131,173 17,098 -
5,665,416 - 40,944 1,290,351 2,171,944 3,035,617 -
2,257,780 - - - - - -
8,117,939 - - - - - -
7,142,689 2,078,533 1,560, 803 109,280 125,329 120,126 -
1,776,824 - - - - - -
2,124,272 - - - - - -
- - - - - - -
38,785 - - - - - -
407,382 - - 134,099 91,417 395,986 -
1,178,661 949,671 145,618 49,316 38,673 449,589 -
2,485,625 - - - - - -
26,973 - - - - - -
- - - - - - -
51,776,040 - - - - - -
105,884,082 311,243 656,447 135,978 120,705 109,364 4,062,895
279,447,296 13,711,809 6,202,036 2,813,804 3,571,644 6,176,637 4,062,895

No. Economic Sector
(1) (2)
3 Manufacturing
6 Construction
12 Real Estate
16 Education
23 Others
Total

in million Rupiah

Receivables
(3) (4) (5) (6) (7) (8) (9)

15,399,175 158,090 469,793 - - - -
1,993,155 152,708 - - - - -
39,057,425 436,826 1,958,224 - - - -
6,767,589 - 34,651 - - - -
68,939 - - - - - -
9,699,104 27,620 168,054 - - - -
30,791,366 193,866 1,326,688 - - - -
1,974,690 3,790 52,323 - - - -
5,889,947 - - - - - -
2,861,964 - - - - - -
10,576,793 - - - - - -
8,888,042 147,314 872,079 - - - -
2,124,250 - - - - - -
1,589,543 - - - - - -
- - - - - - -
46,973 - - - - - -
478,603 - - - - - -
1,214,792 - - - - - -
1,899,762 - - - - - -
26,561 - - - - - -
- - - - - - -
50,918,796 - - - - - -
80,425,192 223,946 1,144,762 - - - 1917103,486
272,692,662 1,344,160 6,026,574 - - - 1,917,103

Table 5.e.2. Disclosure of Claims and Allowances by Economic Sector -

Bank Consolidated with Subsidiaries
No. Economic Sector
(1) (2)
3 Manufacturing
6 Construction
12 Real Estate
16 Education
23 Others
Total

in million Rupiah

Receivables
(3) (4) (5) (6) (7) (8) (9)

13,943,511 125,539 270,027,00 243,764,00 14,869,00 177,031,00 -
2,062,934 186,844 - 69,510,00 2,299,00 55,317,00 -
31,659,764 3,912,814 702,877 504,654,00 719,111,00 1,690,240,00 -
2,886,332 - - 8,520,00 - - -
95,155 - - - - - -
9,898,462 213,559 302,917 140,024,00 156,124,00 126,269,00 -
27,781,664 5,657,239 2,522,402 - - - -
2,321,117 276,367 40,944 128,308,00 131,173,00 17,098,00 -
5,678,118 - - 1,336,843,00 2,194,654,00 3,073,142,00 -
2,258,383 - - - - - -
8,126,139 - - - - - -
7,160,499 2,078,533 1,560,803 109,280,00 125,329,00 120,126,00 -
1,798,134 - - - - - -
2,132,221 - - - - - -
771 - - - - - -
42,216 - - - - - -
409,350 - - 134,099,00 91,417,00 395,986,00 -
1,179,620 949,671 145,618 49,316,00 38,673,00 449,589,00 -
2,510,822 - - - - - -
28,759 - - - - - -
- - - - - - -
54,408,598 - - - - - -
106,467,770 318,350 775,274 135,978,00 120,705,00 109,364,00 4,138,511,00
282,850,338 13,718,916 6,320,863 2,860,296 3,594,354 6,214,162 4,138,511

No. Economic Sector
(1) (2)
3 Manufacturing
6 Construction
12 Real Estate
16 Education
23 Others
Total

in million Rupiah

Receivables
(3) (4) (5) (6) (7) (8) (9)

15,406,927 158,090 469,793
2,011,227 152,708 -
39,074,630 436,826 1,958,224
6,768,182 - 34,651
68,939 - -
9,709,707 27,620 168,054
30,832,912 193,866 1,326,688
1,975,303 3,790 52,323
5,900,523
2,862,648 - -
10,586,735 - -
8,903,414 147,314 872,079
2,141,895 - -
1,606,970 - -
1,109 - -
50,820 - -
483,245 - -
1,216,016 - -
1,907,274 - -
30,249 - -
- - -
53,514,995 - -
80,799,923 223,946 1,144,762 1,988,123
275,853,644 1,344,160 6,026,574 - - - 1,988,123

Table 5.f.1. Disclosure of Details of Movement in Allowance for Impairment Losses - Bank Only
in million Rupiah

No. Description
Stage 1 Stage 2 Stage 3
(1) (2) (3) (4) (5)
1 Beginning balance - Allowance for Impairment Losses 3,461,328 3,964,822 4,316,663
2 Allocation (Recovery) of Impairment Reserves in the current period (Net) - -
2.a. Allocation of Impairment Reserves in current period - 1,293,792 4,853,879

2.b. Recovery of Impairment Reserves in current period (623,394) (358,221) (1,786)
3 Impairment Reserves used to cover write-offs in current period (117,818) - (3,945,077)
4 Other Allocation recovery in current period 93,688 (1,328,749) 952,958
Ending Balance of Allowance of Impairment Losses 2,813,804 3,571,644 6,176,637
Table 5.f.2. Disclosure of Details of Movement in Allowance for Impairment Losses -

in million Rupiah

No. Description
Stage 1 Stage 2 Stage 3
(1) (2) (3) (4) (5)
1 Beginning balance - Allowance for Impairment Losses 3,517,811 3,976,511 4,329,774
2 Allocation (Recovery) of Impairment Reserves in the current period (Net) - - -
2.a. Allocation of Impairment Reserves in current period 8,900 1,307,814 4,954,276
2.b. Recovery of Impairment Reserves in current period (623,394) (358,221) (1,966)
3 Impairment Reserves used to cover write-offs in current period (136,207) - (4,002,303)
4 Other Allocation recovery in current period 93,186 (1,331,749) 934,380
Ending Balance of Allowance of Impairment Losses 2,860,296 3,594,355 6,214,161
DISCLOSURE ON CREDIT RISK STANDARDIZED APPROACH

In regards to capital, CIMB Niaga measures credit risk based on the calculation of Risk-Weighted Assets by using the Credit
Risk Standardized Approach (CRISTA) pursuant to OJK Circular Letter No. 11/SEOJK.03/2018 on the Guidelines to Calculate
Risk-Weighted Assets (RWA) for Credit Risk using the Standardized Approach as amended from OJK Circular Letter No.42/
SEOJK.03/2016 on the same dated 15 August 2018.
In addition, CIMB Niaga has adopted OJK Circular No. 48/SEOJK.03/2017 on the Guidelines for the Calculation of Net Claims
on Derivative Transactions in Calculating Risk Weighted Assets for Credit Risk Using a Standardized Approach (SA-CCR).
RATING POLICY IN CREDIT RISK

RWA CALCULATION
In accordance with the methodology to calculate credit risk by using the standardized approach, in general RWA calculation
is based on ratings issued by external rating agencies.

Based on OJK regulations, credit exposures included in the CIMB Niaga applies a transaction limit, which requires that
calculation of Risk Weighted Assets (RWA) for credit include: transaction agreements with counterparties are made
• Exposure of assets in the balance sheet and liabilities through an internationally recognized master agreement
also contingencies in administrative account such as ISDA (International Swaps and Derivatives
transactions, but excluding trading book position Association). In order to reduce credit risk exposure, the
that has been calculated in the market risk RWA and Bank requires that certain customers or counterparties to
investment which has been calculated as a deduction provide additional collateral in the form of cash or other
from capital. similar instruments through the Credit Support Annex (CSA)
• Exposure that triggers credit risk due to counterparty scheme.
failure, the net claims of which are calculated with the
SA-CCR method. QUALITATIVE DISCLOSURE ON COUNTERPARTY
• Exposure of sales and purchase of financial CREDIT RISK (CCRA)
instruments that may result to credit risk due to Risk Management plays an extremely key role for CIMB
settlement failure. Niaga (Bank) in managing risk to continuously support
Bank’s business activities. To manage the risk arising from
PORTOFOLIO CATEGORY USING the potential default of a counterparty (counterparty
EXTERNAL RATING credit risk), the Bank has put forth a policy and procedure
Based on the standardized approach, RWA calculation for that regulate the risk management of counterparty credit
several portfolio categories are based on external ratings exposure.
and risk weight for some other categories have been
directly determined by regulatory provisions. However, as Banking transaction activities that involve trading and
many of them are unrated, the weighting becomes more investment such as derivatives trading, debt securities,
conservative. foreign exchange swap, settlement transaction can
expose Bank to counterparty credit risk that relates to
RATING AGENCIES settlement, pre-settlement, lending risk, and also credit
CIMB Niaga uses the latest ratings issued by rating agencies issuer risk. Limits on counterparty credit is set for every
that are registered with the Financial Services Authority, counterparty based on an assessment of counterparty’s
OJK. Pursuant to OJK Circular Letter No. 37/SEOJK.03/2016, credit capacity and the Legal Lending Limit in line with
dated 8 September 2016 on Rating and Rating Agencies the Bank’s internal policies.
Acknowledged by the Financial Services Authority, as well
as the OJK official website on 31 December 2019, the rating Counterparty credit risk exposure is calculated as part of
agencies that registered with OJK are Fitch Ratings, Moody’s the calculation of The Bank’s credit Risk Weighted Assets
Investor Service, Standard & Poor’s, PT Fitch Ratings (RWA) using the Standardized Approach, according
Indonesia, and PT Pemeringkat Efek Indonesia. to prevailing rules. In calculating the credit RWA, the
Bank also takes into consideration on the availability of
DISCLOSURE OF COUNTERPARTY CREDIT RISK collaterals, guarantees, assurances and credit insurance
Counterparty credit risk arising from transactions that are as a credit risk mitigation technique.
influenced by volatility in fair value or market value, that are
affected by certain movements of market variables, which
generate an exchange of cash flow or financial instruments,
and is bilateral in nature. Exposures included in this risk are
Over the Counter (OTC) derivative transactions and reverse
repo transactions.

QUANTITATIVE DISCLOSURE OF COUNTERPARTY CREDIT RISK
5.g.1. Disclosure of Net Claims by Portfolio Category and Rating Scale - Bank Only

Net Claims
Ratings Agency Long-Term Rating
Standard and
AAA AA+ to AA- A+ to A- BBB+ to BBB- BB+ to BB-
Poor’s
No. Portfolio Category Fitch Ratings AAA AA+ to AA- A+ to A- BBB+ to BBB- BB+ to BB-
Moody’s Aaa Aa1 to Aa3 A1 to A3 Baa1 to Baa3 Ba1 to Ba3
PT Fitch Ratings AA+(idn) to A+(idn) to. BBB+(idn) to BB+(idn) to
AAA (idn)
Indonesia AA-(idn) A-(idn) BBB-(idn) BB-(idn)
PT Pemeringkat id BBB+ to id id BB+ to id
idAAA idAA+ to idAA- idA+ to id A-
Efek Indonesia BBB- BB-
(1) (2) (3) (4) (5) (6) (7) (8)
1 Claims on Government - 672,301 - - 48,742,546 -
2 Claims on Public Sector - 7,228,008 1,278,317 3,520,075 127,919 -
Entities
4 Claims on Banks - - - - - -
5 Claims Secured by - - - - - -
Residential Properties
Commercial Properties
7 Claims on Employee Retiree - - - - - -
8 Claims on Micro Business, - - - - - -
Small Business, and Retail
Portfolio
9 Claims on Corporates - 1,369,275 1,556,564 2,073,616 565,892 -
10 Past Due Loans - - - - - -
11 Other Assets - - - - - -
Total - 10,826,234 3,990,098 5,988,865 49,439,373 -

in million Rupiah

Net Claims
Short-Term Rating
B+ to B- Below B- A-1 A-2 A-3 Below A-3
B+ to B- Below B- F1+ to F1 F2 F3 Below F3

B1 to B3 Below B3 P-1 P-2 P-3 Below P-3 Unrated Total
B+(idn) to F1+(idn) to
Below B-(idn) F2(idn) F3(idn) Below F3(idn)
B-(idn) F1(idn)
id B+ to id B- Below idB- idA1 idA2 idA3 to id A4 Below idA4
(9) (10) (11) (12) (13) (14) (15) (16)

- - - - - - 20,694,375 70,109,223
- - - - - - 3,992,601 16,146,919
- - - - - - - -
- - - - - - 7,897,901 11,007,957
- - - - - - 30,138,560 30,138,560
- - - - - - 6,358,554 6,358,554
- - - - - - - -
- - - - - - 17,199,270 17,199,270
97,534 - - - - - 97,888,829 103,551,711

- - - - - - 2,859,614 2,859,614
- - - - - - 19,155,875 19,155,875
97,534 - - - - - 206,185,579 276,527,683


Net Claims
Standard and
Poor’s
AAA (idn)
(1) (2) (3) (4) (5) (6) (7) (8)
1 Claims on Government - 1,037,099 - - 20,988,772 -
2 Claims on Public Sector - 5,291,418 - 4,727,410 243,814 78,823
Entities
4 Claims on Banks - 1,049,100 930,141 441,966 279,922 -
Portfolio
9 Claims on Corporates - 2,719,026 636,646 1,274,379 386,256 -
Total - 10,096,644 1,566,787 6,443,755 21,898,764 78,823

in million Rupiah

Net Claims
Short-Term Rating

B-(idn) F1(idn)
(9) (10) (11) (12) (13) (14) (15) (16)

- - - - - - 22,833,610 44,859,482
- - - - - - 8,947,082 19,288,548
- - - - - - - -
- - - - - - 6,880,409 9,581,538
- - - - - - 29,373,378 29,373,378
- - - - - - 7,671,675 7,671,675
- - - - - - - -
- - - - - - 18,193,554 18,193,554
175,906 - - - - - 120,577,834 125,770,047

- - - - - - 2,471,782 2,471,782
- - - - - - 18,783,040 18,783,040
175,906 - - - - - 235,732,363 275,993,043

5.g.2. Disclosure of Net Claims by Portfolio Category and Rating Scale -


Net Claims
Standard and
Poor’s
AAA (idn)
(1) (2) (3) (4) (5) (6) (7) (8)
1 Claims on Government - 672,301 - - 48,742,546 -
2 Claims on Public Sector - 7,228,008 1,278,317 3,520,075 127,919 -
Entities
4 Claims on Banks - 1,556,650 1,155,216 395,174 3,016 -
Portfolio
9 Claims on Corporates - 1,369,275 1,556,564 2,073,616 565,892 -
Total - 10,826,234 3,990,098 5,988,865 49,439,373 -

in million Rupiah

Net Claims
Short-Term Rating

B-(idn) F1(idn)
(9) (10) (11) (12) (13) (14) (15) (16)

- - - - - - 20,694,375 70,109,223
- - - - - - 3,992,601 16,146,919
- - - - - - - -
- - - - - - 7,999,961 11,110,017
- - - - - - 30,138,560 30,138,560
- - - - - - 6,358,554 6,358,554
- - - - - - - -
- - - - - - 19,740,235 19,740,235
97,534 - - - - - 98,046,672 103,709,554

- - - - - - 2,873,807 2,873,807
- - - - - - 19,637,503 19,637,503
97,534 - - - - - 209,482,268 279,824,372


Net Claims
Standard and
Poor’s
AAA (idn)
(1) (2) (3) (4) (5) (6) (7) (8)
1 Claims on Government - 1,037,099 - - 20,988,772 -
2 Claims on Public Sector - 5,291,418 - 4,727,410 243,814 78,823
Entities
4 Claims on Banks - 1,049,100 930,141 441,966 279,922 -
Portfolio
9 Claims on Corporates - 2,719,026 636,646 1,274,379 386,256 -
Total - 10,096,644 1,566,787 6,443,755 21,898,764 78,823

in million Rupiah

Net Claims
Short-Term Rating

B-(idn) F1(idn)
(9) (10) (11) (12) (13) (14) (15) (16)

- - - - - - 22,833,610 44,859,482
- - - - - - 8,947,082 19,288,548
- - - - - - - -
- - - - - - 6,904,195 9,605,324
- - - - - - 29,373,378 29,373,378
- - - - - - 7,671,675 7,671,675
- - - - - - - -
- - - - - - 20,713,974 20,713,974
175,906 - - - - - 120,755,946 125,948,159

- - - - - - 2,484,637 2,484,637
- - - - - - 19,130,567 19,130,567
175,906 - - - - - 238,815,064 279,075,744

DISCLOSURE OF CREDIT RISK MITIGATION UNDER THE STANDARDIZED APPROACH

In accordance with OJK Circular Letter No. 11/SEOJK.03/2018 of 15 August 2018 on Amendments to OJK Circular Letter No.42/
SEOJK.03/2016 on the Guidelines for the Calculation of Risk Weighted Assets (RWA) for Credit Risk by Using the Standardized
Approach, the Bank recognizes collateral, warranty, or credit insurance as credit risk mitigation techniques (MRK). Some of
the MRK techniques used by the Bank according to the OJK Circular Letter are as follows:
1. MRK Method-Collateral
2. MRK method-Warranty, and or
3. MRK method-Warranty or Credit Insurance
The type of financial collateral recognized by the Bank in the Collateral MRK Method refers to the relevant regulatory
requirements.
Though not included in the MRK calculation, the Bank also accepts other types of collateral such as land & buildings, vehicles,
machinery and other collateral/guarantees. CIMB Niaga has clearly governed collateral management in Commercial Credit
Policy. The matters stipulated in the policy include collateral coverage requirement, parties that conduct assessment and
collateral inspection, rules and procedures of internal and external assessment, as well as the frequency of valuations based
on the type of collateral.s
DISCLOSURE OF NET CLAIMS BASED ON RISK

WEIGHT AFTER CREDIT RISK MITIGATION IMPACT
5.h.1. Disclosure of Net Claims Based on Risk Weight after considering Credit Risk Mitigation Impact - Bank Only

Capital
Risk Weighted
No. Portfolio Category Net Claims After Credit Risk Mitigation Impact Expense
Asset (RWA)
(9.9%)
0% 20% 25% 35% 40% 45% 50% 75% 100% 150% Others
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) (14) (15)
A Balance Sheet Exposures
1 Claims on Government 68,264,723 - - - - - - - - - - - -
2 Claims on Public Sector 3,812,595 5,766,334 - - - - 4,668,579 - - - - 3,487,556 345,268

Entities
3 Claims on Multilateral - - - - - - - - - - - - -
4 Claims on Banks 290,721 6,582,659 - - - - 2,642,968 - - - - 2,638,016 261,164
5 Claims Secured by 3 8,597,567 10,538,566 10,988,509 - - - - - - - 8,200,133 811,813

6 Claims Secured from 173 - - - - - - - 6,354,045 - - 6,354,045 629,050

Commercial Property
7 Claims on Employee Retiree - - - - - - - - - - - - -
8 Claims on Micro Business, 74,301 - - - - - - 16,866,281 - - - 12,649,710 1,252,321

Small Business and Retail
Portfolio
9 Claims on Corporates 2,717,279 2,825,839 - - - - 2,073,616 - 88,266,321 97,534 - 90,014,598 8,911,445
10 Past Due Loans 241 43 - - - - - - 474,068 2,385,261 - 4,051,968 401,145
11 Other Assets 4,776,086 - - - - - - - 14,127,690 252,099 - 14,505,839 1,436,078
Total Balance Sheet Exposure 79,936,122 23,772,442 10,538,566 10,988,509 - - 9,385,163 16,866,281 109,222,124 2,734,894 - 141,901,865 14,048,285

in million Rupiah

Capital
Risk Weighted
Net Claims After Credit Risk Mitigation Impact Expense
Asset (RWA)
(9.9%)
0% 20% 25% 35% 40% 45% 50% 75% 100% 150% Others
(16) (17) (18) (19) (20) (21) (22) (23) (24) (25) (26) (27) (28)
44,825,538 - - - - - - - - - - - -
3,036,848 3,884,912 - - - - 10,929,730 - 78,823 - - 6,320,671 625,746
- - - - - - - - - - - - -
43,036 5,268,040 - - - - 3,580,221 - - - - 2,843,718 281,528
146 8,623,951 9,750,616 10,985,649 - - - - - - - 8,007,421 792,735
354 - - - - - - - 7,466,984 - - 7,466,984 739,231
- - - - - - - - - - - - -
77,233 - - - - - - 17,875,506 - - - 13,406,630 1,327,256
4,239,565 3,156,016 - - - - 1,260,379 - 108,877,056 175,906 - 110,402,308 10,929,829
7,547 - - - - - - - 513,902 1,950,332 - 3,439,400 340,501
5,691,444 - - - - - - - 13,041,673 49,924 - 13,116,558 1,298,539
57,921,711 20,932,919 9,750,616 10,985,649 - - 15,770,330 17,875,506 129,978,439 2,176,162 - 165,003,691 16,335,365


Capital
Risk Weighted
Asset (RWA)
(9.9%)
0% 20% 25% 35% 40% 45% 50% 75% 100% 150% Others
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) (14) (15)
B Administratif Exposure on Liabilities Commitments Contingencies in Administrative Account Transactions
1 Claims on Government - - - - - - - - - - - - -
2 Claims on Public Sector 777,977 1,000,000 - - - - 121,435 - - - - 260,717 25,811

Entities
4 Claims on Banks - 14,187 - - - - 12,363 - - - - 9,019 893
5 Claims Secured by - 13,916 - - - - - - - - - 2,783 276

6 Claims Secured from - - - - - - - - 4,337 - - 4,337 429

Commercial Property
8 Claims on Micro Business, 5,096 - - - - - - 251,306 - - - 188,479 18,659

Portfolio
9 Claims on Corporates 69,829 100,000 - - - - - - 5,520,159 - - 5,540,159 548,476
10 Past Due Loans - - - - - - - - - - - - -
Total Administrative Account 852,902 1,128,103 - - - - 133,798 251,306 5,524,496 - - 6,005,495 594,544
Exposure
C Counterparty Credit Risk Exposure
2 Claims on Public Sector - - - - - - - - - - - - -

Entities
4 Claims on Banks - 1,125,271 - - - - 339,788 - - - - 394,948 39,100
5 Claims on Micro Business, - - - - - - - 2,287 - - - 1,715 170

Portfolio
6 Claims on Corporates - - - - - - - - 1,881,133 - - 1,881,133 186,232
7 Weighted Exposure - - - - - - - - - - - 705,111 69,806

from Credit Valuation
Adjustment (CVA risk
weighted assets)
Total Counterparty Credit Risk 1,844,500 1,125,271 - - - - 339,788 2,287 1,881,133 - - 2,982,907 225,502
Exposure
Total Exposure (A+B+C) 82,633,524 26,025,816 10,538,566 10,988,509 - - 9,858,748 17,119,873 116,627,753 2,734,894 - 150,890,267 14,868,330


Capital
Risk Weighted
Asset (RWA)
(9.9%)
0% 20% 25% 35% 40% 45% 50% 75% 100% 150% Others
(16) (17) (18) (19) (20) (21) (22) (23) (24) (25) (26) (27) (28)
3,211 - - - - - - - - - - - -
1,193,546 - - - - - 145,992 - - - - 72,996 7,227
- - - - - - - - - - - - -
- - - - - - 4,985 - - - - 2,493 247
- 13,016 - - - - - - - - - 2,603 258
- - - - - - - - 204,337 - - 204,337 20,229
- - - - - - - - - - - - -
5,157 - - - - - - 228,629 - - - 171,472 16,976
80,346 200,000 - - - - 14,000 - 6,905,329 - - 6,952,329 688,281
- - - - - - - - - - - - -
1,282,260 213,016 - - - - 164,977 228,629 7,109,666 - - 7,406,229 733,217
30,732 - - - - - - - - - - - -
- - - - - - 18,696 - - - - 9,348 925
- - - - - - - - - - - - -
- 355,097 - - - - 330,159 - - - - 236,099 23,374
- - - - - - - 7,029 - - - 5,272 522
- - - - - - - - 861,449 - - 861,449 85,283
- - - - - - - - - - - 383,072 37,924
30,732 355,097 - - - - 348,856 7,029 861,449 - - 1,495,240 110,105
59,234,703 21,501,032 9,750,616 10,985,649 - - 16,284,163 18,111,164 137,949,554 2,176,162 - 173,905,160 17,178,687

5.h.2. Disclosure of Net Claims Based on Risk Weight after considering Credit Risk Mitigation Impact -

Capital
Risk Weighted
Asset (RWA)
(9.9%)
0% 20% 25% 35% 40% 45% 50% 75% 100% 150% Others
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) (14) (15)
A Balance Sheet Exposures
2 Claims on Public Sector 3,812,595 5,766,334 - - - - 4,668,579 - - - 3,487,556 345,268

Entities
4 Claims on Banks 290,721 6,684,719 - - - - 2,642,968 - - - - 2,658,428 263,184
5 Claims Secured by 3 8,597,567 10,538,566 10,988,509 - - - - - - - 8,200,133 811,813

6 Claims Secured from 173 - - - - - - - 6,354,045 - - 6,354,045 629,050

Commercial Property
8 Claims on Micro Business, 74,301 - - - - - - 19,407,245 - - - 14,555,434 1,440,988

Portfolio
9 Claims on Corporates 2,717,279 2,825,839 - - - - 2,073,616 - 88,424,165 97,534 - 90,172,441 8,927,072
10 Past Due Loans 241 43 - - - - - - 474,068 2,399,454 - 4,073,258 403,253
11 Other Assets 4,777,284 - - - - - - - 14,561,175 299,045 - 15,009,742 1,485,964
Total Balance Sheet Exposure 79,937,320 23,874,502 10,538,566 10,988,509 - - 9,385,163 19,407,245 109,813,452 2,796,033 - 144,511,037 14,306,593

in million Rupiah

Capital
Risk Weighted
Asset (RWA)
(9.9%)
0% 20% 25% 35% 40% 45% 50% 75% 100% 150% Others
(16) (17) (18) (19) (20) (21) (22) (23) (24) (25) (26) (27) (28)
44,825,538 - - - - - - - - - - - -
3,036,848 3,884,912 - - - - 10,929,730 - 78,823 - 6,320,671 625,746
- - - - - - - - - - - - -
43,036 5,291,826 - - - - 3,580,221 - - - - 2,848,476 281,999
146 8,623,951 9,750,616 10,985,649 - - - - - - - 8,007,421 792,735
354 - - - - - - - 7,466,984 - - 7,466,984 739,231
- - - - - - - - - - - - -
77,233 - - - - - - 20,395,926 - - - 15,296,944 1,514,397
4,239,565 3,156,016 - - - - 1,260,379 - 109,055,169 175,906 - 110,580,421 10,947,462
7,547 - - - - - - - 513,902 1,963,187 - 3,458,683 342,410
5,693,065 - - - - - - - 13,381,001 56,501 - 13,465,752 1,333,109
57,923,332 20,956,705 9,750,616 10,985,649 - - 15,770,330 20,395,926 130,495,880 2,195,594 - 167,445,353 16,577,090


Capital
Risk Weighted
Asset (RWA)
(9.9%)
0% 20% 25% 35% 40% 45% 50% 75% 100% 150% Others
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) (14) (15)
1 Claims on Government - - - - - - - - - - - - -
2 Claims on Public Sector 777,977 1,000,000 - - - - 121,435 - - - - 260,717 25,811

Entities
4 Claims on Banks - 14,187 - - - - 12,363 - - - - 9,019 893
5 Claims Secured by - 13,916 - - - - - - - - - 2,783 276

6 Claims Secured from - - - - - - - - 4,337 - - 4,337 429

Commercial Property
8 Claims on Micro Business, 5,096 - - - - - - 251,306 - - - 188,479 18,659

Portfolio
9 Claims on Corporates 69,829 100,000 - - - - - - 5,520,159 - - 5,540,159 548,476
10 Past Due Loans - - - - - - - - - - - - -
Total Administrative 852,902 1,128,103 - - - - 133,798 251,306 5,524,496 - - 6,005,495 594,544

Account Exposure
2 Claims on Public Sector - - - - - - - - - - - - -

Entities
4 Claims on Banks - 1,125,271 - - - - 339,788 - - - - 394,948 39,100
5 Claims on Micro Business, - - - - - - - 2,287 - - - 1,715 170

Portfolio
6 Claims on Corporates - - - - - - - - 1,881,133 - - 1,881,133 186,232
7 Weighted Exposure - - - - - - - - - - - 705,111 69,806

from Credit Valuation
Adjustment (CVA risk
weighted assets)
Total Counterparty Credit Risk 1,844,500 1,125,271 - - - - 339,788 2,287 1,881,133 - - 2,982,907 295,308
Exposure
Total Exposure (A+B+C) 82,634,721 26,127,876 10,538,566 10,988,509 - - 9,858,748 19,660,838 117,219,081 2,796,033 - 153,499,438 15,196,444


Capital
Risk Weighted
Asset (RWA)
(9.9%)
0% 20% 25% 35% 40% 45% 50% 75% 100% 150% Others
(16) (17) (18) (19) (20) (21) (22) (23) (24) (25) (26) (27) (28)
3,211 - - - - - - - - - - - -
1,193,546 - - - - - 145,992 - - - - 72,996 7,227
- - - - - - - - - - - - -
- - - - - - 4,985 - - - - 2,493 247
- 13,016 - - - - - - - - - 2,603 258
- - - - - - - - 204,337 - - 204,337 20,229
- - - - - - - - - - - - -
5,157 - - - - - - 228,629 - - - 171,472 16,976
80,346 200,000 - - - - 14,000 - 6,905,329 - - 6,952,329 688,281
- - - - - - - - - - - - -
1,282,260 213,016 - - - - 164,977 228,629 7,109,666 - - 7,406,229 733,217
30,732 - - - - - - - - - - - -
- - - - - - 18,696 - - - - 9,348 925
- - - - - - - - - - - - -
- 355,097 - - - - 330,159 - - - - 236,099 23,374
- - - - - - - 7,029 - - - 5,272 522
- - - - - - - - 861,449 - - 861,449 85,283
- - - - - - - - - - - 383,072 37,924
30,732 355,097 - - - - 348,856 7,029 861,449 - - 1,495,240 148,029
59,236,325 21,524,818 9,750,616 10,985,649 - - 16,284,163 20,631,583 138,466,995 2,195,594 - 176,346,822 17,458,335

5.i.1. Disclosure of Net Claims and Credit Risk Mitigation Method - Bank Only
No. Portfolio Category Portion Secured by

Net Claims
Collateral Guarantee Credit Insurance
(1) (2) (3) (4) (5) (6)
A Balance Sheet Exposure
1 Net Claims on Government 68,264,723 - - -
2 Net Claims on Public Sector Entities 14,247,507 - 3,812,595 -
3 Net Claims on Multilateral Development Banks and - - - -

4 Net Claims on Banks 9,516,348 290,721 - 44,774
5 Claims Secured by Residential Properties 30,124,644 3 - -
6 Claims Secured from Commercial Property 6,354,218 173 - -
8 Claims on Micro Business, Small Business and Retail Portfolio 16,940,582 74,301 - -
9 Claims on Corporates 95,980,590 2,717,279 - -
10 Past Due Loans 2,859,614 241 - 43
11 Other Assets 19,155,875 - - -
Total Balance Sheet Exposure 263,444,101 3,082,718 3,812,595 44,817
B Administrative Exposure on Liabilities Commitments Contingencies in Administrative Account Transactions
1 Claims on Government - - - -
2 Claims on Public Sector Entities 1,899,411 - 777,977 -
3 Claims on Multilateral Development Banks and - - - -

4 Claims on Banks 26,550 - - -
5 Claims Secured by Residential Properties 13,916 - - -
6 Claims Secured from Commercial Property 4,337 - - -
8 Claims on Micro Business, Small Business and Retail 256,401 5,096 - -

Portfolio
9 Claims on Corporates 5,689,989 69,829 - -
10 Past Due Loans - - - -
Total Administrative Account Exposure 7,890,604 74,925 777,977 -
1 Claims on Government 1,844,500 - - -
2 Claims on Public Sector Entities - - - -

4 Claims on Banks 1,465,059 - - -
5 Claims on Micro Business, Small Business and Retail Portfolio 2,287 - - -
6 Claims on Corporates 1,881,133 - - -
Total Counterparty Credit Risk Exposure 5,192,978 - - -
TOTAL (A+B+C) 276,527,683 3,157,643 4,590,572 44,817

in million Rupiah
Part not Portion Secured by

Net Claims Part not Guaranteed
Others Guaranteed Collateral Guarantee Credit Insurance Others
(8) = (3)- (14) = (9)-

(7) (9) (10) (11) (12) (13)
[(4)+(5)+(6)+(7)] [(10)+(11)+(12)+(13)]
- 68,264,723 44,825,538 - - - - 44,825,538
- 10,434,912 17,930,314 - 3,036,848 - - 14,893,466
- - - - - - - -
- 9,180,853 8,891,296 43,036 - 78,011 - 8,770,249
30,124,642 29,360,362 146 - - 29,360,216
- 6,354,045 7,467,338 354 - - - 7,466,984
- - - - - - - -
- 16,866,281 17,952,739 77,233 - - - 17,875,506
- 93,263,311 117,708,922 4,239,565 - 344 - 113,469,013
- 2,859,329 2,471,782 7,547 - - - 2,464,234
- 19,155,875 18,783,040 - - - - 18,783,040
- 256,503,970 265,391,331 4,367,881 3,036,848 78,355 - 257,908,247
- - 3,211 - - - - 3,211
- 1,121,435 1,339,537 - 1,193,546 - - 145,992
- - - - - - - -
- 26,550 4,985 - - - - 4,985
- 13,916 13,016 - - - - 13,016
- 4,337 204,337 - - - - 204,337
- - - - - - - -
- 251,306 233,786 5,157 - - - 228,629
- 5,620,159 7,199,675 80,346 - - - 7,119,329
- - - - - - - -
- 7,037,702 8,998,548 85,503 1,193,546 - - 7,719,499
- 1,844,500 30,732 - - - - 30,732
- - 18,696 - - - - 18,696
- - - - - - - -
- 1,465,059 685,256 - - - - 685,256
- 2,287 7,029 - - - - 7,029
- 1,881,133 861,449 - - - - 861,449
- 5,192,978 1,603,163 - - - - 1,603,163
- 268,734,651 275,993,043 4,453,384 4,230,393 78,355 - 267,230,910

5.i.2. Disclosure of Net Claims and Credit Risk Mitigation Method -

No. Portfolio Category Portion Secured by

Net Claims
Collateral Guarantee Credit Insurance
(1) (2) (3) (4) (5) (6)
A Balance Sheet Exposure
2 Claims on Public Sector Entities 14,247,507 - 3,812,595 -

4 Claims on Banks 9,618,408 290,721 - 44,774
5 Claims Secured by Residential Properties 30,124,644 3 - -
6 Claims Secured from Commercial Property 6,354,218 173 - -
8 Claims on Micro Business, Small Business and Retail Portfolio 19,481,547 74,301 - -
9 Claims on Corporates 96,138,433 2,717,279 - -
10 Past Due Loans 2,873,807 241 - 43
11 Other Assets 19,637,503 - - -
Total Balance Sheet Exposure 266,740,790 3,082,718 3,812,595 44,817
1 Claims on Government - - - -
2 Claims on Public Sector Entities 1,899,411 - 777,977 -

4 Claims on Banks 26,550 - - -
5 Claims Secured by Residential Properties 13,916 - - -
6 Claims Secured from Commercial Property 4,337 - - -
8 Claims on Micro Business, Small Business and Retail 256,401 5,096 - -

Portfolio
9 Claims on Corporates 5,689,989 69,829 - -
10 Past Due Loans - - - -
Total Administrative Account Exposure 7,890,604 74,925 777,977 -
2 Claims on Public Sector Entities - - - -

4 Claims on Banks 1,465,059 - - -
5 Claims on Micro Business, Small Business and Retail Portfolio 2,287 - - -
6 Claims on Corporates 1,881,133 - - -
Total Counterparty Credit Risk Exposure 5,192,978 - - -
TOTAL (A+B+C) 279,824,372 3,157,643 4,590,572 44,817

in million Rupiah
Part not Portion Secured by

Net Claims Part not Guaranteed
Others Guaranteed Collateral Guarantee Credit Insurance Others
(8) = (3)- (14) = (9)-

(7) (9) (10) (11) (12) (13)
[(4)+(5)+(6)+(7)] [(10)+(11)+(12)+(13)]
- 68,264,723 44,825,538 - - - - 44,825,538
- 10,434,912 17,930,314 - 3,036,848 - - 14,893,466
- - - - - - - -
- 9,282,913 8,915,083 43,036 - 78,011 - 8,794,036
30,124,642 29,360,362 146 - - 29,360,216
- 6,354,045 7,467,338 354 - - - 7,466,984
- - - - - - - -
- 19,407,245 20,473,159 77,233 - - - 20,395,926
- 93,421,154 117,887,035 4,239,565 - 344 - 113,647,126
- 2,873,522 2,484,637 7,547 - - - 2,477,090
- 19,637,503 19,130,567 - - - - 19,130,567
- 259,800,659 268,474,032 4,367,881 3,036,848 78,355 - 260,990,949
- - 3,211 - - - - 3,211
- 1,121,435 1,339,537 - 1,193,546 - - 145,992
- - - - - - - -
- 26,550 4,985 - - - - 4,985
- 13,916 13,016 - - - - 13,016
- 4,337 204,337 - - - - 204,337
- - - - - - - -
- 251,306 233,786 5,157 - - - 228,629
- 5,620,159 7,199,675 80,346 - - - 7,119,329
- - - - - - - -
- 7,037,702 8,998,548 85,503 1,193,546 - - 7,719,499
- 1,844,500 30,732 - - - - 30,732
- - 18,696 - - - - 18,696
- - - - - - - -
- 1,465,059 685,256 - - - - 685,256
- 2,287 7,029 - - - - 7,029
- 1,881,133 861,449 - - - - 861,449
- 5,192,978 1,603,163 - - - - 1,603,163
- 272,031,340 279,075,744 4,453,384 4,230,393 78,355 - 270,313,611

5.j.1. Disclosure of RWA Credit Risk under Standard Approach - Bank Only
1. Balance Sheet Asset Exposures, except securitization exposure
in million Rupiah
Position 31 December 2020 Position 31 December 2019

Net Claims RWA before CRM RWA After CRM Net Claims RWA before CRM RWA After CRM
(1) (2) (3) (4) (5) (6) (7) (8)
1. Claims on the 68,264,723 - - 44,825,538 - -

Government
a. Claims on Government of 68,264,723 - - 44,548,798 - -

Indonesia
b. Claims on Governments of Other - - - 276,739 - -

Countries
2. Claims on Public Sector Entities 14, 247,507 5,055,870 3,487,556 17,930,314 7,725,828 6,320,671
3. Claims on Multilateral - - - -
4. Claims on Banks 9,516,348 2,796,788 2,638,016 8,891,296 2,888,183 2,843,718
a. Short-Term Claims 4,888,747 977,749 977,735 3,416,278 683,256 682,951
b. Long-Term Claims 4,627,601 1,819,038 1,660,280 5,475,018 2,204,928 2,160,767
5. Claims Secured by Residential 30,124,644 8,200,133 8,200,133 29,360,362 8,007,451 8,007,421

Properties
6. Claims Secured by Commercial 6,354,218 6,354,218 6,354,045 7,467,338 7,467,338 7,466,984

Properties
7. Claims on Employee Retiree - - - -
8. Claims on Micro Business, Small 16,940,582 12,705,436 12,649,710 17,952,739 13,464,555 13,406,630
9. Claims on Corporates 95,980,590 92, 731,877 90,014,598 117,708,922 114,642,149 110,402,308
10. Past Due Loans 2,859,614 4,052,387 4,051,968 2,471,782 3,450,721 3,439,400
a. Claims Secured by Residential 474,068 474,068 474,068 513,902 513,902 513,902

Properties
b. Other Claims Secured by 2,385,546 3,578,319 3,577,900 1,957,879 2,936,819 2,925,498

Residential Property
11. Other Assets 19,155,875 14,505,839 14,505,839 18,783,040 13,116,558 13,116,558
a. Cash, gold, and commemorative 4,776,086 - - 5,691,444 - -

coins
b. Shareholding (aside from those 3,659 5,489 5,489 3,659 5,489 5,489
that become capital reduction
factors)
1) Temporary shareholding - - - - - -
within the framework of loan
restructuring
2) Shareholding in finance 3,659 5,489 5,489 3,659 5,489 5,489

companies not listed in the
stock exchange
3) Shareholding in finance - - - - - -
companies listed in the stock
exchange
c. Fixed assets and net inventory 6,190,861 6,190,861 6,190,861 5,308,052 5,308,052 5,308,052
d. Foreclosed Collateral 248,440 372,660 372,660 46,265 69,397 69,397
e. Net inter office 65,735 65,735 65,735 - - -
f. Others 7,871,093 7,871,093 7,871,093 7,733,620 7,733,620 7,733,620
Total 263,444,101 146,402,548 141,901,865 265,391,331 170,762,782 165,003,691

2. Off Balance Sheet Commitment/Contingencies Exposure, except securitization exposure.

in million Rupiah

(1) (2) (3) (4) (5) (6) (7) (8)
1. Claims on the
- - - 3,211 - -
Government
a. Claims on Government of
- - - 3,211 - -
Indonesia
b. Claims on Governments of Other
- - - - - -
Countries
2. Claims on Public Sector Entities 1,899,411 465,692 260,717 1,339,537 361,084 72,996
3. Claims on Multilateral
Development Banks and - - - - - -
4. Claims on Banks 26,550 9,019 9,019 4,985 2,493 2,493
a. Short-Term Claims 14,187 2,837 2,837 - - -
b. Long-Term Claims 12,363 6,181 6,181 4,985 2,493 2,493
5. Claims on Secured by Residential
13,916 2,783 2,783 13,016 2,603 2,603
Properties
6. Claims on Secured by Commercial
4,337 4,337 4,337 204,337 204,337 204,337
Properties
7. Claims on Employee/Retiree - - - - - -
8. Claims on Micro Business, Small
256,401 192,301 188,479 233,786 175,340 171,472
9. Claims on Corporates 5,689,989 5,609,989 5,540,159 7,199,675 7,032,675 6,952,329
10. Past Due Loans - - - - - -
a. Claims Secured by Residential
- - - - - -
Properties
b. Other Claims Secured by
- - - - - -
Total 7,890,604 6,284,120 6,005,495 8,998,548 7,778,531 7,406,229
3. Counterparty Credit Risk Exposures
in million Rupiah

(1) (2) (3) (4) (5) (6) (7) (8)
1. Claims on Government 1,831,989 - - - - -
a. Claims on Government of 1,831,989 - - - - -
Indonesia
b. Claims on Governments of Other - - - - - -
Countries
2. Claims on Public Sector Entities - - - - - -
3. Claims on Multilateral - - - - - -
4. Claims on Banks 670,999 134,200 134,200 - - -
b. Long-Term Claims - - - - - -
5. Claims Secured by Residential - - - - - -
Properties
6. Claims Secured by Commercial - - - - - -
Properties
Total 2,502,989 134,200 134,200 - - -

4. Settlement Risk Exposure

The Bank has no exposure to the related disclosures
5.
Securitization Risk Exposure
6. Derivative Exposure
in million Rupiah

(1) (2) (3) (4) (5) (6) (7) (8)
1. Claims on the 12,510 - - 30,732 - -

Government
a. Claims on the Government of 12,510 - - 30,732 - -

Indonesia

Countries
2. Claims on Public Sector Entities - - - 18,696 9,348 9,348
4. Claims on Banks 794,059 260,748 260,748 685,256 236,099 236,099
a. Short-Term Claims 144,141 28,828 28,828 215,206 43,041 43,041
5. Claims on Micro Business, Small 2,287 1,715 1,715 7,029 5,272 5,272
6. Claims on Corporates 1,881,133 1,881,133 1,881,133 861,449 861,449 861,449
7. Weighted Exposure from Credit - 705,111 705,111 - 383,072 383,072

Valuation Adjustment (CVA risk
weighted assets)
Total 2,689,990 2,848,707 2,848,707 1,603,163 1,495,240 1,495,240
7.
Total Credit Risk Calculation (1+2+3+4+5+6)
in million Rupiah
Position 31 December Position 31 December

2020 2019
TOTAL CREDIT RISK RWA (A) 150,890,267 173,905,160
"CREDIT RISK RWA DEDUCTION FACTORS: - -
Difference between PPKA general reserves over productive assets that is
required to be caluculated and 1.25% RWA for Credit Risk"
TOTAL CREDIT RISK RWA (A) - (B) - -
TOTAL CAPITAL DEDUCTION FACTORS - -

5.j.2. Disclosure of RWA Credit Risk under Standard Approach - Bank Consolidated with Subsidiaries
1. Balance Sheet Asset Exposures, except securitization exposure
in million Rupiah

(1) (2) (3) (4) (5) (6) (7) (8)
Claims on the
1. 68,264,723 - - 44,825,538 - -
Government
a. Claims on the Government of

68,264,723 - - 44,548,798 - -
Indonesia

- - - 276,739 - -
Countries
2. Claims on Public Sector Entities 14,247,507 5,055,870 3,487,556 17,930,314 7,725,828 6,320,671
Claims on Multilateral
3. Development Banks and - - - - - -
4. Claims on Banks 9,618,408 2,817,200 2,658,428 8,915,083 2,892,940 2,848,476
a. Short-Term Claims 4,990,807 998,161 998,147 3,440,065 688,013 687,709
b. Long-Term Claims 4,627,601 1,819,038 1,660,280 5,475,018 2,204,928 2,160,767
Claims Secured by Residential

5. 30,124,644 8,200,133 8,200,133 29,360,362 8,007,451 8,007,421
Properties
Claims Secured by Commercial

6. 6,354,218 6,354,218 6,354,045 7,467,338 7,467,338 7,466,984
Properties
Claims on Micro Business, Small

8. 19,481,547 14,611,160 14,555,434 20,473,159 15,354,869 15,296,944
10. Past Due Loans 2,873,807 4,073,676 4,073,258 2,484,637 3,470,004 3,458,683

474,068 474,068 474,068 513,902 513,902 513,902
Properties

2,399,739 3,599,608 3,599,190 1,970,735 2,956,102 2,944,781
11. Other Assets 19,637,503 15,009,742 15,009,742 19,130,567 13,465,752 13,465,752
a. Cash, gold, and commemorative

4,777,284 - - 5,693,065 - -
coins
b. Shareholding (aside from those

that become capital reduction 3,659 5,489 5,489 3,659 5,489 5,489
factors)
1) Temporary shareholding
within the framework of loan - - - - - -
restructuring
2) Shareholding in finance 3,659 5,489 3,659 5,489

companies not listed in the 5,489 5,489
stock exchange
3) Shareholding in finance
companies listed in the stock - - - - - -
exchange
c. Fixed assets and net inventory 6,258,640 6,258,640 6,258,640 5,330,999 5,330,999 5,330,999
d. Foreclosed Collateral 295,386 443,079 443,079 52,842 79,263 79,263
e. Net inter office 65,735 65,735 65,735 - - -
f. Others 8,236,799 8,236,799 8,236,799 8,050,002 8,050,002 8,050,002
Total 266,740,790 149,011,719 144,511,037 268,474,032 173,204,444 167,445,353

2. Off Balance Sheet Commitment/Contigencies Exposure, except securitization exposure

in million Rupiah

(1) (2) (3) (4) (5) (6) (7) (8)
Claims on the
1. - - - 3,211 - -
Government
a. Claims on the Government of
- - - 3,211 - -
Indonesia
- - - - - -
Countries
2. Claims on Public Sector Entities 1,899,411 465,692 260,717 1,339,537 361,084 72,996
Claims on Multilateral
3. Development Banks and - - - - - -
4. Claims on Banks 26,550 9,019 9,019 4,985 2,493 2,493
Claims Secured by Residential
5. 13,916 2,783 2,783 13,016 2,603 2,603
Properties
Claims Secured by Commercial
6. 4,337 4,337 4,337 204,337 204,337 204,337
Properties
Claims on Micro Business, Small
8. 256,401 192,301 188,479 233,786 175,340 171,472
10. Past Due Loans - - - - - -
- - - - - -
Properties
- - - - - -
Total 7,890,604 6,284,120 6,005,495 8,998,548 7,778,531 7,406,229
3. Counterparty Credit Risk Exposures
in million Rupiah

(1) (2) (3) (4) (5) (6) (7) (8)
1. Claims on the 1,831,989 - - - - -

Government
a. Claims on the Government of 1,831,989 - - - - -
Indonesia
Countries
2. Claims on Public Sector Entities - - - - - -
4. Claims on Banks 670,999 134,200 134,200 - - -
b. Long-Term Claims - - - - - -
5. Claims Secured by Residential - - - - - -

Properties
6. Claims Secured by Commercial - - - - - -
Properties
Total 2,502,989 134,200 134,200 - - -

4. Settlement Risk Exposures

5.
Securitization Risk Exposures
6. Derivative Exposure
in million Rupiah

(1) (2) (3) (4) (5) (6) (7) (8)
1. Claims on the 12,510 - - 30,732 - -

Government
a. Claims on the Government of 12,510 - - 30,732 - -

Indonesia

Countries
2. Claims on Public Sector Entities - - - 18,696 9,348 9,348
4. Claims on Banks 794,059 260,748 260,748 685,256 236,099 236,099
a. Short-Term Claims 144,141 28,828 28,828 215,206 43,041 43,041
5. Claims on Micro Business, Small 2,287 1,715 1,715 7,029 5,272 5,272
6. Claims from Corporates 1,881,133 1,881,133 1,881,133 861,449 861,449 861,449
7. Weighted Exposure from Credit - 705,111 705,111 - 383,072 383,072

Valuation Adjustment (CVA risk
weighted assets)
Total 2,689,990 2,848,707 2,848,707 1,603,163 1,495,240 1,495,240
7. Total Credit Risk Calculation (1+2+3+4+5+6)
in million Rupiah
Position 31 Desember Position 31 Desember

2020 2019
TOTAL CREDIT RISK RWA (A) 153,499,438 176,346,822
"CREDIT RISK RWA DEDUCTION FACTORS: (B) - -
Difference between PPKA general reserves over productive assets that is
required to be caluculated and 1.25% RWA for Credit Risk"
TOTAL CREDIT RISK RWA (A) - (B) (C) - -
TOTAL CAPITAL DEDUCTION FACTORS (D) - -

Table 5.k. Counterparty Credit Risk Analysis based on The Approach Used

a b c d e f
No. Alpha used
Potential
Replacement for calculating
future EEPE Net Claims RWA
cost (RC) regulatory
exposure (PFE)
EAD
1 SA-CCR (for derivatives) 1,306,178 615,243 - 1,4 2,689,990 2,143,597
2 Internal Model Method (for - - - - - -
derivatives and SFT)
3 Standard approach for credit - - - - - -
risk mitigation (for SFT)
4 Advance approach for credit - - - - - -
5 VaR for SFT - - - - - -
Total - - - - - 2,143,597

a b c d e f
No. Alpha used
Potential
Replacement for calculating
future EEPE Net Claims RWA
cost (RC) regulatory
exposure (PFE)
EAD
1 SA-CCR (for derivatives) 820,489 324,628 - 1,4 1,603,163 1,112,168
2 Internal Model Method (for - - - - - -
derivatives and SFT)
3 Standard approach for credit - - - - - -
4 Advance approach for credit - - - - - -
5 VaR for SFT - - - - - -
Total - - - - - 1,112,168
The counterparty credit risk with Standard Approach has increased from the previous year due to an increase in exposure to derivative
transactions with Variable Interest Rates.

Table 5.l. Credit valuation adjustment (CVA) capital charge

a b a b
Net Claims RWA Net Claims RWA
Total portfolios based on Advanced CVA capital charge - - - -
1 (i) VaR components (including 3× multiplier) - - - -
2 (ii) Stressed VaR components (including 3× multiplier) - - - -
3 All Portfolio in accordance with Standardised CVA Capital Charge 2,689,990 705,111 1,603,163 383,072
4 Total in accordance with CVA Capital Charge - 705,111 - 705,111
The increase in CVA is in line with the increase in Net Claims from Derivative Transactions calculated using the Standard Approach.
Table 5.m. Disclosure of CCR Exposure based on Portfolio Category and Risk Weight

Risk Weight
a b c d e f g h i
Total Net
Portfolio Category 0% 10% 20% 50% 75% 100% 150% Others
Claims
Indonesia
Claims on the 12,510 - - - - - - - 12,510
Government and
Central Bank
Claims on Public Sector - - - - - - - - -
Entities
Claims on Multilateral - - - - - - - - -
Development Banks
and International
Institutions
Claims on Other Banks - - 454,271 339,788 - - - - 794,059
Claims on securities - - - - - 14,192 - - 14,192
companies
Claims on Corporates - - - - - 1,866,941 - - 1,866,941
Claims on Micro - - - - 2,287 - - - 2,287
Business, Small
Business, and Retail
Portfolio
Other Assets - - - - - - - - -
Total 12,510 - 454,271 339,788 2,287 1,881,133 - - 2,689,990


Risk Weight
a b c d e f g h i
Total Net
Portfolio Category 0% 10% 20% 50% 75% 100% 150% Others
Claims
Indonesia
Claims on the 30,732 - - - - - - - 30,732
Government and
Central Bank
Claims on Public Sector - - - 18,696 - - - - 18,696
Entities
Claims on Multilateral - - - - - - - - -
Development Banks
and International
Institutions
Claims on Other Banks - - 355,097 330,159 - - - - 685,256
Claims on securities - - - - - 5,389 - - 5,389
companies
Claims on Corporates - - - - - 856,061 - - 856,061
Claims on Micro - - - - 7,029 - - - 7,029
Business, Small
Business, and Retail
Portfolio
Other Assets - - - - - - - - -
Total 30,732 - 355,097 348,856 7,029 861,449 - - 1,603,163
The increase in net claims is due to the increase in Claims on Corporates portfolio category which is unrated (100% weighted)
Table 5.n. Net Claims on Credit Derivative

The Bank has no exposure to the related disclosurest
Table 5.o. Securitization Exposure in Banking Book

Table 5.p. Securitization exposure in the Trading Book

Table 5.q. Securitization exposure to the banking book when the bank is the originator or sponsor and its capital
requirements
Table 5.r. Securitization Exposure in the banking book and Capital Requirement - Bank as investor

MARKET RISK
Market risk is the risk due to movements in market 4. Develop, provide feedback and recommendations
variables such as interest rates, exchange rates, and on the methodology of market risk measurement to
option prices that could result in a loss for the Bank. assist Business Units in managing market risk.
Market risks are inherent in the trading of foreign 5. Analyze and submit market risk reports to the
currencies, securities, derivatives, money market Bank’s senior management, including reports on risk
instruments, and others. Market risk comprises interest exposure, capital adequacy and stress testing.
rate risk, exchange rate risk, and option risk in the trading 6. Provide input to the related committees on new
book and the banking book. Interest rate risk in the product proposals that could affect the Bank’s risk
banking book can arise from the different exposures of profile.
the Bank’s assets and liabilities and from interest rates
movements that could affect the income and economic Meanwhile, the Assets and Liabilities Management (ALM)
value of the Bank’s capital. - Finance and Risk Unit are responsible for managing risk
in the banking book. In 2020, the Bank has the framework,
The management of market risk management, particularly methodology, and had enhanced its infrastructures
risks that arise from the trading book is managed by the capacity, and implemented the improved IRBBB system
Market Risk Management (MRM) unit, while risks arising to support a more comprehensive measurement of
from the banking book is managed by the Asset Liabilities interest rate risk in the banking book and to comply with
Management (ALM) - Finance and Risk Unit. regulatory requirements as stipulated in the OJK Circular
Letter No.12/SEOJK.03/2018 on the Implementation
GOVERNANCE of Risk Management and Risk Measurement with the
To create robust and effective market risk governance, Standardized Approach for Interest Rate Risk in the
the Bank implements the three lines of defense strategy Banking Book.
in managing and mitigating market risk.
3RD LINE OF DEFENCE – INTERNAL AUDIT
1 LINE OF DEFENCE – BUSINESS UNIT (BU)
ST
Carried out by Internal Audit that is responsible for
Carried out by the Directorate of Treasury or the performing independent reviews on the adequacy and
appointed Trading Origination Function (TOF), the effectiveness of risk management, as well as the internal
Business Unit is the risk-taking unit that is responsible control over the management of market risk.
for ensuring that the implementation of policies are
proper and consistent and and ensuring the adequacy In addition to the above three lines of defense concept,
of the systems, processes, and resources required in the Board of Directors actively monitors market risk
market risk management process that comprises of management by evaluating the implementation
identification, measurement, monitoring & control and through the Risk Management Committee (RMC). RMC
reporting. is an executive committee responsible for managing the
Bank’s overall risk, including establishing the framework,
2ND LINE OF DEFENCE – RISK MANAGEMENT strategy, and risk appetite. The overall market risk
Carried out by the Risk Management Directorate-Market control factors are also reported to the Risk Oversight
Risk Management Group (MRM), which is an independent Committee (KIPER), as part of the active oversight by the
unit that is responsible for managing and controlling Board of Commissioners.
daily market risks and policy operations. The main duties
and responsibilities of MRM are as follows: POLICIES, PROCEDURES, AND LIMITS SETTING
1. Develop, document, implement,review, and request Market risk management is stipulated in the form of
approval for policies. policies, procedures, risk limits, and other decisions that
2. Review, provide feedback and recommendations relate to the management of market risk. The Bank’s
on the limit structure proposal submitted by the market risk limits and appetite are evaluated periodically
Business Unit (at least once a year). in line with changes in the Bank’s business environment.
3. Monitor limits on utilization and escalate when limits
are exceeded in line with established procedures.

These policies and limits are reviewed periodically to Bank’s activities. The Risk Management Unit (RMU) plays
adjust to the current conditions of the Treasury business a role in conducting the process continuously through
in particular and market conditions as well as internal infrastructure development such that the management
and external regulations in general. Periodically, the risk of market risk can be undertaken effectively in line with
management unit updates market risk policies to ensure the maximum limit of risk that the Bank is willing to
alignment with external regulations, internal policies, tolerate.
and the business strategy of Treasury.
The management of market risk comprises:
For effective risk limit control, the Bank establishes a 1. Management of market risk for trading book
comprehensive limit structure, in accordance with the portfolios.
complexity of the activities, taking into account the Bank’s 2. Management of interest rate risk in the banking book.
business objectives and risk tolerance. Market risk
limits that are applied by the Bank include Value at Risk Market risk identification process is performed among
(VaR), sensitivity (DV01, base DV01, CR01, Vega, NOP), others during the analysis of new products (particularly
trigger loss, and notional size for a particular portfolio. treasury products) through the approval process for
Meanwhile, limits that are applied for the interest rate the new product, which is a key control for the Bank
risk in the Banking Book include among others the to identify inherent market risk to be considered and
Economic Value of Equity (EVE) limit. mitigated before and after the product is launched. To
support a robust market risk identification process , the
THE RISK MANAGEMENT PROCESS Bank has established policy for managing the risk related
In accordance with regulatory requirements, the Bank to products and activities, that governs the proposal,
is required to perform a series of processes to identify, review, and approval process for the Bank’s new products
measure, monitor, and control the risks arising from the and activities.
The framework for market risk management processes is shown below:
Board of Commissioners (KIPER) and BOD (RMC) Active supervision
Risk Identification Risk Measurement

Identification of risk associated with Bank • Risk quantification related to Bank exposure
strategy as well as new products to be launched on review, analysis, control and reporting.
and fund placement/investment decisions • The methodology utilized in measuring risk
(VaR, sensitivity risk, stress test).
Market Risk Management

Framework
Risk Reporting Risk Control and
Risk Reporting and escalation Monitoring
of information to facilitate Continuous risk monitoring on
business and risk decision- market risk profile within the
making risk tolerance limits and business activities that
are in accordance with relevant policies
Policies, Methodologies, Systems, and Internal Control

A. MANAGING MARKET RISK FOR TRADING BOOK Market risks that need to be calculated for capital
PORTFOLIOS charges using the standardized approach are:
Periodically, the Market Risk Management (MRM) 1. The position of financial instruments in the
Unit monitors compliances on exchange rate risk trading book that is exposed to interest rate risk.
and interest rate risk limits. Breaches of these limits 2. The position of foreign currencies in the trading
are reported to the relevant Heads and the Board of and banking books that is exposed to foreign
Directors to be followed up. exchange risk
3. The position of options with their underlying
The Bank’s market risk management process is also interest rates and/or foreign currencies in the
supported by adequate market-risk management trading book.
information systems to derive comprehensive and
integrated market risk reports. The MRM Unit, as To calculate the minimum capital using the
an independent unit, undertakes the market risk standardized approach, the Bank calculates all of
monitoring and reporting. This is also supported the positions of financial instruments in the trading
by sufficient human resources in risk management book that are exposed to interest rate risks such
units, both in terms of quantity and quality. as securities portfolios, as well as derivatives that
include FX Forward, FX Swap, IRS/CCS, IR Future, and
In managing market risk for trading book portfolios, others. While for option positions, the Bank calculates
the Bank internally applies the sensitivity analysis, all option positions in the trading book portfolio with
which is the change in portfolio’s value due to the interest rates and foreign exchange underlying. For
movement of one independent market variable, exchange rate risk, the Bank calculates all on and off-
such as DV01 and the DV01 base for the instrument balance sheet positions, both in the trading book and
portfolios related to interest rates, net open position banking book portfolios.
for foreign exchange, and Vega for option portfolios.
In addition to sensitivity analysis, the Bank uses Value The market risk monitoring process is carried out in
at Risk (VaR) calculation in measuring market risk. two phases, namely the front-end control and the
limit establishment. In the front-end control, the
Portfolios that are included in the Value at Risk (VaR) dealer serves as the primary observer of market risk
measurement comprise securities, foreign exchange, arising from the trading activities as well as managing
and derivatives. The VaR calculation method is the Bank’s assets and liabilities. The dealer must
based on historical simulation, which is reviewed ensure that open trading positions must not exceed
periodically with the assumption that historical/past the limits that have been set by Management.
returns of an asset is used to predict the potential
risks in the future. The Historical Simulation VaR The MRM monitors breaches on trading limits
method does not require distribution of the asset’s on a daily basis. Limit setting serves to manage
returns assumptions. The valuation method on fair the concentration of risk exposure to a particular
value measurement of an instrument is performed position, risk type , instrument type, and/or certain
using the available market price (marked to market) markets. Limits are established based on the Bank’s
or using theoretical price calculations in illiquid risk tolerance by taking into account the profit targets
market conditions (marked to model). from trading activities.
CIMB Niaga uses the VaR calculation to evaluate The strategy adopted by CIMB Niaga in the process
market risk internally on a daily basis with a of market risk management is conservative. This is
confidence level of 99% (ninety nine percent). carried out through hedging, squaring position, back-
to-back, and other strategies for the offsetting of a
To calculate Capital Adequacy Ratio (CAR) for market transaction/position that has market risk exposure
risk, the Bank uses the standardized approach, and can be used for risk transfer processes. The bank
which comprises the calculation of interest rate risk, only enters into market transactions that are aligned
exchange rate risk, and option risk. with its risk appetite and business strategy.

B. MANAGING INTEREST RATE RISK IN THE Non Maturing Deposits (NMD) include Current
BANKING BOOK and Savings accounts, in which the NMD behavior
CIMB Niaga measures and controls the interest rate characteristics are influenced by types of customer
risk in the banking book arising from differences groups, such as Retail and Wholesale. The average
between the time of the interest rate change with the maturity of the re-pricing (repricing maturities) is
cash flow (repricing risk), changes in the correlation of determined based on the analysis of the historical
the interest rate to several yield curves with different balance and sensitivity to pricing interest rates, also
positions that affect the Bank’s activities (basis risk), considering the caps on the proportions and the
changes in interest rate correlation among the term average time period of the core deposit according to
structures (yield curve risk), and interest rates that the OJK Circular Letter on IRRBB.
are related to options embedded in the products
in banking book (option risk). The Bank measures The methodology used to estimate the prepayment
interest rate risk exposures, both from the earning rate of loans is based on the simple average method
and the economic perspective, using several potential of historical monthly prepayments against the total
interest rate scenarios, including stress conditions. value of the portfolio over the past 12 months.
However, prepayment risk from the loan portfolio is
The Bank has policies and procedures for IRRBB, relatively immaterial due to inherent mitigation such
including mitigation strategies to support the as significant penalties.
implementation of interest rate risk management.
ALM Risk performs internal control function over A similar condition also applies for early withdrawal
interest rate risk in the banking book, through of time deposits where there is mitigation to
monitoring the adherence of IRRBB exposures to the minimize the number of early withdrawal rates from
Bank’s limits and risk appetite. time deposits. The impact of early withdrawal is very
minimum on IRRBB because the majority of term
The IRRBB calculation is carried out on a monthly deposits are short tenor (1 month).
basis in accordance to regulations stipulated on
the OJK Circular Letter No.12/SEOJK.03/2018 on the Total ΔEVE calculation is the result of aggregation
Guidelines for the Standardized Approach to Risk among currencies that are included in the category
Measurement of Interest Rate Risk in the Banking of significant currencies. Currently, the Rupiah and
Books of Commercial Banks; sensitivity to IRRBB is U.S Dollar are included in the category of significant
measured by using PVBP/PV01, which is a proxy for currencies.
managing EVE and NII exposures. The interest rate
shock scenarios that are used in the IRRBB calculation BACK-TESTING
using the EVE method comprise of six scenarios, This method is performed by comparing the VaR
namely parallel up, parallel down, steepener, calculation and historical actual losses by using the Model
flattener, short rate up, and short rate down. While Verification Based on Failure Test, by calculating the
the NII calculation uses two scenarios, namely parallel number of observations in which the value of the losses
up and parallel down. exceeds the VaR for an observed portfolio during the
observation period. This model is more historical and non-
In the case where the Bank hedges its IRRBB, this can parametric. If the acceptable error level is breached, then
be done through various mechanisms among others the VaR model may be inaccurate. Back-testing results
by conducting interest rate swap (IRS) transactions, in are also reported periodically to RMC. Validation on the
which case the value and tenor of the risk would be model used for risk assessment is carried out regularly at
similar to those in the banking book. Meanwhile, the least once a year, or in the event of modifications in the
accounting treatment for the transaction refers to the model, due to structural and significant market changes,
prevailing accounting standard. or portfolio composition changes which may cause the
model unable to measure all material market risk factors,
In the calculation of ∆EVE and ∆NII, the commercial or the model has become irrelevant.
margins or spread components have been calculated
in the cash flow and the applied discounted rate is
based on a risk-free curve.

STRESS TESTING Internal Audit conducts reviews on the management

The Bank periodically carries out stress testing to estimate of market risk regularly at least once a year through
its potential losses during stress market conditions to the internal audit process. The review covers the
observe sensitivity of Treasury performance to changes activities of the Market Risk Management Unit and
in risk factors and identify significant impacts on the operational business units that are related to market risk
Bank’s portfolio. management. The review includes:
a. Adequacy of market risk management documentation
In the stress test testing exercise, the risk measurement (including internal models).
system must be flexible enough to facilitate the variety of b. Approval process on significant changes in market
scenarios, including large historical market moves in the risk management.
past. The assumptions made in stress testing must be c. Integrity of market risk management information
carefully developed to examine the Treasury’s portfolio systems.
trend. d. Organization of the Market Risk Management (MRM)
Unit, including the duties and responsibilities,
Stress testing is performed quantitatively, comprising of independence, and adequacy of human resources.
the identification of various possible stress scenarios that e. Integration of market risk measurement into the daily
could adversely impact the Bank, including on its earning risk management process.
and capital. Stress testing is performed on all trading f. The scope of products and/or financial instruments
book portfolios that are exposed to interest rate risk as that are exposed to market risk using internal models.
well as the trading book and banking book portfolios that g. Verification of consistency, accuracy, independence,
are exposed to exchange rate risk by taking into account and reliability of data sources used in internal models.
market risk and liquidity aspects in assumed market h. Accuracy and completeness of data for risk
disturbances. Stress testing scenario incorporates measurement.
parallel as well as non-parallel movements of relevant i. Internal approval process for the utilization models/
risk factors. assessment techniques (valuation).
j. Accuracy of valuation results.
INTERNAL CONTROL k. Accuracy and adequacy of various volatility and
The Bank periodically reviews the adequacy of its policies correlation assumptions.
and procedures. The assessment of policy adequacy and l. Verification of internal validation processes and back-
its implementation is carried out by the Internal Audit testing processes.
Unit (SKAI) as an independent party, the result of which
are subsequently reported to the management and the Internal Audit is required to document all reviews
Audit Committee for further actions. Information related that have been performed. Furthermore, according
to market risk exposures is consolidated and reported by to regulations concerning the implementation of the
the unit in charge of finance and accounting. Bank’s internal audit function, Internal Audit is required
to submit internal audit implementation report to the
Board of Directors and the Board of Commissioners.

Table 6 Disclosure of Market Risk Using the Standard Method
in million Rupiah
Bank Consolidated Bank Consolidated

No. Risk Type
Capital Capital Capital Capital
RWA RWA RWA RWA
Charge Charge Charge Charge
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10)
1 Interest Rate Risk
a. Specific Risk 5,060 63,250 5,111 63,894 18,237 227,968 18,237 227,968
b. General Risk 201,472 2,518,402 201,497 2,518,717 77,870 973,371 77,870 973,371
2 Exchange Risk 55,009 687,614 55,009 687,614 124,342 1,554,278 124,342 1,554,278
3 Equity Risk*) - - - - - - - -
4 Commodity Risk *)
- - - - - - - -
5 Option Risk 21,211 265,134 21,211 265,134 18,700 233,752 18,700 233,752
Total 282,752 3,534,400 282,829 3,535,359 239,149 2,989,368 239,149 2,989,368
*)
for bank that have subsidiaries with the above risks
REPORT OF RISK MANAGEMENT IMPLEMENTATION

FOR INTEREST RATE RISK IN THE BANKING BOOK
Tabel 7.a. Disclosure of Interest Rate Risk in the Banking Book (IRRBB) - Bank Only
RISK CALCULATION REPORT
Name of Bank : PT Bank CIMB Niaga Tbk (Bank Only)

Report Position : December 2020
Currency : IDR and USD
In million Rupiah ∆EVE ∆NII

Period Dec 2020 Dec 2019 Dec 2020 Dec 2019
Parallel up -2,948,533 933,888 553,257 1,580,601
Parallel down 4,356,232 -951,403 -184,966 -1,489,519
Steepener -1,816,977 40,225 - -
Flattener 1,191,193 227,298 - -
Short rate up -518,401 599,967 - -
Short rate down 679,276 -672,215 - -
Negative Maximum Value (absolute) 2,948,533 951,403 184,966 1,489,519
Tier 1 Capital (for ∆EVE) or Projected Income (for ∆NII) 36,889,257 40,190,415 12,085,774 12,798,082
Maximum Value divided by Tier 1 Capital (for ∆EVE) or Projected 7.99% 2.37% 1.53% 11.64%
Income (∆NII)

Tabel 7.b. Disclosure of Interest Rate Risk in the Banking Book (IRRBB) -
Bank on a Consolidated basis with Subsidiaries

Currency : IDR and USD
In million Rupiah ∆EVE ∆NII

Period Dec 2020 Dec 2019 Dec 2020 Dec 2019
Parallel up -3,072,756 868,574 587,217 1,591,219
Parallel down 4,472,242 -890,744 -223,305 -1,504,161
Steepener -1,769,279 69,479 - -
Flattener 1,116,478 183,742 - -
Short rate up -613,260 552,921 - -
Short rate down 765,900 -627,024 - -
Negative Maximum Value (absolute) 3,072,756 890,744 223,305 1,504,161
Tier 1 Capital (for ∆EVE) or Projected Income (for ∆NII) 38,942,564 42,077,692 12,562,490 13,315,082
Maximum Value divided by Tier 1 Capital (for ∆EVE) or Projected 7.89% 2.12% 1.78% 11.30%
Income (∆NII)
The Bank measures and controls interest rate risk in the banking book that arise from repricing risk, basis risk, yield curve risk, and option risk. The Bank measures
interest rate exposure risk from and income and economic perspective under the likelihood and from the potential interest rate scenario, including stress conditions.
The Bank has an IRRBB policy and procedure, including mitigating strategies to support implementation of interest rate risk management. The ALM Risk uses an
internal control function over interest rate risk in the banking book, namely by monitoring the IRRBB exposure that must comply with the Bank’s limit and risk appetite
by using the EVE measuring method. The ALM Finance carries out an NII measuring function based on the Bank’s internal projection.
The IRRBB calculation is carried out monthly by taking into account provisions incorporated within the OJK circular letter No.12/SEOJK.03/2018 on guidelines for risk
measurement using the standard approach for interest rate risk in the banking book for commercial banks; Measuring sensitivity towards IRRBB is carried out by
using the interest rate sensitivity factor, which is a more detailed proxy and technical in managing IRRBB exposure.
The interest rate shock scenario used to measure IRRBB by using the EVE method are 6 scenarios, namely parallel up, parallel down, steepener, flattener, short rate
up and short rate down. Meanwhile, calculating with the NII method uses 2 scenarios, namely parallel up and parallel down.
When the Bank implements interest rate risk management, the Bank has a number of options that includes, the Bank can carry out a natural hedge towards the Bank’s assets
that has a long position through bonds issuance or sell Time Deposit products with a long-term tenor (tenor of 1 year), aside from that, the Bank also conducts hedging over
IRRBB through various mechanism that includes by carrying out interest rate swap (IRS) transactions, wherein the value as well as tenor risk that is transacted is the same
with the value of the exposure’s value in the banking book. Meanwhile, for accounting treatment for these transactions are based on prevailing accounting standards.
In calculating the ∆EVE and ∆NII, the commercial margin or spread components have been calculated in the cashflow and discounted interest rate that is used based
on the risk free curve.
Non Maturing Deposit (NMD) covers Current Account and Savings product, wherein the the NMD’s behavior characteristics are influenced by the customer’s
grouping, such as Retail and Wholesale. Determining the repricing maturities are based on the historical balance and sensitivity analysis over the interest rate pricing
as well as takes into account the caps towards the proportion and towards the average tenor of the core deposit in accordance with the OJK Circular Letter on IRRBB.
The methodology used to estimate the prepayment rate from the loan is based on the simple average method from the historical monthly prepayment towards the
total portfolio value throughout the last 12 months. However, the prepayment risk from the credit portfolio is relatively immaterial as there is mitigation incorporated
such as towards significant penalty fines.
Similarly, there is an Early withdrawal from Time Deposits wherein there is mitigation to minimize the early withdrawal rate from the time deposit. The impact of this
early withdrawal is significantly minimal towards IRRBB as the time deposit is mostly of a short tenor (1 month).
Calculating the total ∆EVE and ∆NII is an aggregate result between the currenty that includes the significant currency category. There is currently Rupiah and U.S.
Dollar currency ncluded in the significant currency category.
Quantitative Analysis
Average repricing maturity tenor applied for Non-Maturing Deposit (NMD) is 1.8 years for Wholesale and 2.5 year for Retail.
The longer repricing maturity tenor that is applied by Non-Maturing Deposit (NMD) is 5 years.

LIQUIDITY RISK
Liquidity risk arises due to the inability of the Bank to meet through approval of the Liquidity Risk Management
its maturing financial obligations from cash flow funding Policy, including the the Contingency Funding Plan.
and/or high-quality liquid assets that can be liquidated and/
or pledged without disrupting the Bank’s financial activities. POLICIES, PROCEDURES, AND LIMIT SETTING
The Bank has Liquidity Risk Management framework CIMB Niaga has adequate policies and procedures for
that comprises the policies, procedures, measurement, liquidity risk management. These policies are developed
and monitoring of risk limits along with the governance by the ALM–Risk unit with the relevant business units,
implementation. The Asset and Liability Management among others Liquidity Risk Management Policy,
(ALM) Risk unit of the Risk Management Directorate Escalation Procedures, Liquidity Contingency Funding
performs control function on liquidity risk management Plan, Liquidity Risk Reporting Procedure and Normal
independently. Liquidity risk management, including the Business Assumptions, Liquidity Modeling, Behavioral
strategy and planning thereof, together with the Treasury Cash Flow, and Regulatory Liquidity Ratios Reporting
Directorate/relevant Business Unit and the Finance Procedures. In line with the liquidity risk policy are the
Directorate as mandated by the Asset Liability Committee three-level structure of risk policy that is designed to
(ALCO). facilitate the effective application of a comprehensive
liquidity risk management framework to distinguish
GOVERNANCE different types of policies, risk limits or Management
The Bank implements liquidity risk management Action Triggers (“MAT”), and procedures or technical
governance align with the Three Lines of Defense guidelines of liquidity risk management. CIMB Niaga
strategy, by involving the relevant business unit, the establishes liquidity risk limits and liquidity risk
risk management unit and the internal audit unit. The parameters following risk appetite level among others
liquidity risk is managed centrally (pooling) through based on liquidity gap analysis under normal and stress
active involvement from the Treasury Money Market conditions, Liquidity Coverage Ratio (LCR) dan Net Stable
group, the Funding unit, and ALM – Finance. The Funding Ratio (NSFR). Risk limits are set following the
independent assessment on the adequacy of policies internal risk tolerance and based on the regulation
and its implementations is performed by Internal Audit with considerations on the Bank’s strategy, historical
Unit, also the assessment results are reported to the experiences, market conditions, and the Bank’s funding
Management and the Audit Committee. capacity.
The Board of Directors through the Asset Liability FUNDING STRATEGY

Committee (ALCO) manages the Bank’s balance sheet The Bank prioritizes third-party funds growth that
by taking into account liquidity risk in accordance with are less costly and stable such as current account and
the approved risk limits and optimizing the Bank’s saving accounts. This strategy is in line with the efforts
performance through its Net Interest Income. The Board to increase the role of digital banking that focuses on
of Directors is responsible for implementing the strategy the convenience of customer portfolios management
and periodically reviews the liquidity risk management within the Bank, in terms of funding, lending, investment,
process through the ALCO meetings. In addition, ALCO is and other financial transactions, such as payment, cash
also responsible for the Bank’s liquidity risk management management, and other services. Such comprehensive
policy endorsement as well as approvals for risk tolerance banking services can be expected to increase number
and other important procedures related to liquidity risk of customers (funding diversification), which will
management that may affect the Bank’s risk profile. consistently reduce the risk of concentrated funds in
The liquidity risk profile is reported to ALCO, Senior large amounts that can be volatile.
Management, and the Regulator periodically and on an
ad-hoc basis if needed. The strategy will gradually increase core funding and fee-
based income from operations and transaction activities,
All liquidity risk management factors are also reported while also simplified in asset and liability management
to the Risk Oversight Committee (KIPER), as part of the and providing the Bank with a solid and sustainable
Board of Commissioners’ active oversight. The active balance sheet structure.
role of the Board of Commissioners is also represented

THE RISK MANAGEMENT PROCESS PROSES management for the Bank under normal conditions and
The Bank manages its liquidity risk through a series of in times of crisis.
process, from identifying, measuring, monitoring to
controlling the Bank’s internal risk, from the internal The bank identifies liquidity risk among others through
exposures both on and off the balance sheet. The the analysis and approval of new products and the
internal liquidity risk factors primarily arise from the periodical reviews of existing products. This step is a
maturity profiles of assets and liabilities, requiring the key control for the Bank to identify inherent liquidity
Bank to consider changes in the behavior maturity, due risk in each of those products, to be considered and
to, either customer needs or product pricing that may mitigated before and after the product is launched. To
trigger early withdrawal of deposits or loan repayment. support an accurate risk identification process, the Bank
External factors are also considered in risk management, has products and activities risk management policy that
such as market liquidity and macro-economic conditions governs the proposal, review, and approval process for
in general. The objective is to maintain optimum liquidity the Bank’s new products and activities.
The liquidity risk management process is depicted below:
Active oversight of the Board of Directors (ALCO) and Board of Commissioners (KIPER)
Risk Identification Risk Measurement and Limit

Identify liquidity risk factors that arise from On • Liquidity Gap under normal condition (BaU)
Balance sheet and Off Balance sheet position, and stress condition
including business line classification (Wholesale, • Liquidity Coverage Ratio (LCR)
SME, Retail), significant exposure on foreign • Net Stable Funding Ratio (NSFR)
currencies, contractual maturity • Early Warning Indicator
and behavioral maturity. • Other liquidity ratios/
indicators
Liquidity Risk
Management Framework
Risk Reporting Risk Control and Mitigation
Timely liquidity risk reporting as Control are applied to ensure
the basis for business decision that risks are managed within
consideration by balancing the limits and escalated according
risk and return target. to procedure. There is a range of strategies
to manage risk exposure to remain within the
Bank’s risk appetite.
Policies and Methodologies, including Contingency Funding Plan,

and Internal Control Systems

Table 8.a. Quantitaive Disclosure of LCR (Individual Bank and Consolidated)
Name of Bank : PT Bank CIMB Niaga Tbk

INDIVIDUAL
No: Component
Value Asset/Liabilities
Value after haircut or
and Commitment and
discount
Contingent
1 Number of data for average calculation 61 point of daily and

month end average
HIGH QUALITY LIQUID ASSET (HQLA)
2 Total High Quality Liquid Asset (HQLA) 91,333,649
CASH OUTFLOWS
3 Individual Deposit and SME Deposit, consist of :
a. Stable Deposits 58,341,177 2,917,059
b. Non-Stable Deposits 22,643,804 2,264,380
4 Wholesale Deposit, consist of :
a. Operational deposits 26,026,869 5,868,625
b. Non Operational Deposit and/or liabilities which are non operational 55,295,662 28,573,597
c. Bond issued (unsecured) 803,508 803,508,20
5 Secured funding 1,969,483 -
6 Additional Requirement Cash Outflow, consist of :
a. Derivative Cash Outflow 13,186,383 13,186,383
b. Cash Outflow due to an increased in liquidity demand - -
c. Cash Outflow due to loss of Funding - -
d. Cash Outflow due to withdrawal from credit facility and liquidity facility 10,766,237 1,233,845
e. Cash Outflow due to contractual obligation on channeling Funds - -
f. Cash Outflow due to Contingency 69,719,702 246,783
g. Contractual cash outflow 491,756 491,756
7 TOTAL CASH OUTFLOWS 55,585,938
CASH INFLOWS
8 Deposit with Secured Lending Collateral 5,118,290 -
9 Inflows from fully Performing Exposures 8,300,326 3,174,297
10 Contractual cash inflow 14,246,409 13,744,021
11 CASH INFLOWS 27,665,026 16,918,318
TOTAL ADJUSTED
VALUE1
12 TOTAL HQLA 91,333,649
13 NET CASH OUTFLOWS 38,667,620
14 LCR (%) 236.20%
¹ Note: 1) Adjusted value was calculated after haircut, run-off rate and inflow rate also limit mazimum for HQLA, such as max. HQLA Level 2B and Level 2. Threshold for
maximum inflow that can be recognized is 75% from outflow also has been considered.

in million Rupiah
CONSOLIDATED
Position 31 December 2019 Position 31 December 2020 Position 31 December 2019
Value Asset/Liabilities Value Asset/Liabilities Value Asset/Liabilities
Value after haircut or Value after haircut or Value after haircut or
and Commitment and and Commitment and and Commitment and
discount discount discount
Contingent Contingent Contingent
65 point of daily and 64 point of daily and 68 point of daily and

month end average month end average month end average

53,204,124 91,365,534 53,435,912

55,214,544 2,760,727,19 58,338,644 2,916,932,19 55,214,112 2,760,705,59
21,822,414 2,182,241,42 22,641,117 2,264,111,67 21,816,710 2,181,670,98

23,692,158 5,294,335 25,741,498 5,798,030 23,369,179 5,214,023
44,506,036 22,650,127 55,230,435 28,537,096 44,639,946 22,700,235
254,461 254,461,54 809,281 809,281 249,982,06 249,982
- - 1,991,666 - - -

10,464,167 10,464,167 13,186,404 13,186,404 10,411,553 10,411,553
- - - - - -
- - - - - -
18,055,918 2,015,458 10,762,530 1,233,486 18,082,023 2,019,719
- - 216,153 216,153 - -
69,089,067 282,935 69,701,500 246,820 69,057,605 282,984
893,968 893,968 491,251 491,251 895,447 895,447
46,798,420 55,699,565 46,935,141

531,695 - 5,104,070 - 541,026 -
8,702,005 3,887,769 8,294,086 3,105,506 8,748,628 3,855,599
11,506,573 11,076,645 14,244,556 13,743,488 11,462,509 11,027,676
20,740,272 14,964,414 27,642,712 16,848,994 20,752,162 14,883,275
TOTAL ADJUSTED TOTAL ADJUSTED TOTAL ADJUSTED
VALUE1 VALUE1 VALUE1
53,204,124 91,365,534 53,435,912
31,834,006 38,850,571 32,051,865
167.13% 235.17% 166.72%

Individual Based Analysis

Bank CIMB Niaga has always maintained LCR above threshold limit and refer to the regulation set by OJK. LCR monitoring is carried out
intensively, both through daily report prepared by Risk Management to the Management as well as monitoring in the ALCO forum. There
were 61 daily observations of LCR figure used for average LCR calculation in this quarter. In Q4 2020, the average of individual LCR figures
have increased compared to the average in Q3 2020. Average LCR for Q4 2029 was at 167.13% while in the Q4 2020 was observed at 236.20%.
The increase in average LCR mostly contributed by higher weighted average value of HQLA by eq. IDR 38.13 Tio which was driven by higher
average of Deposits and lower average of Loans in Q4 2020 compared to Q4 2019. Negative trend for lending activities continued which
allocated to higher HQLA, specifically in form of Government bonds.
Net Cash Outflows within 30 days have increased by eq. IDR 6.83 Tio, mostly contributed by higher deposit Outflow within 30 days which came
from higher Non-Operational Deposit from Corporates and Other entities of eq. IDR 10.57 Tio or eq. IDR 5.88 Tio post-factor and Operational
Deposits from Corporates of eq. IDR 2.29 Tio or eq. IDR 571 Bio post-factor. Retail deposit increased by eq. IDR 4.17 Tio or eq. IDR 247 Bio post-
factor. Additional outflow also came from higher Unsecured debt issuance that matured within 30 days of eq. IDR 549 Bio.
On the other hand, Undrawn committed credit facilities provided to Corporates decreased by eq. IDR 7.07 Tio or eq. IDR 706 Bio whereas from
Cash inflows, there were lower inflows from Corporates of eq. IDR 839 Bio as result of lower lending activities.
Bank continuously strives to develop mobile / internet banking products (OCTO Mobile, OCTO BizChannel, OCTO Clicks etc.) which aim to
increase transactional accounts, one of which is by online opening savings and deposit features to provide customer the ability to securely carry
out banking activities in convenient way. Furthermore, Bank also consistently raise campaigns to offer funding / deposit products variation with
longer tenors to establish stable and long-term deposit growth. The optimum Assets and Liabilities management is carried out by referring
to Liquidity Risk Management framework that has been implemented by Management through Risk Management Working Unit with the
principle of prudence. This is in line with the guidelines that Bank has always maintained, where customer interests and trust are considered
as main asset and priority. Developing superior products and services that can meet the needs of the community continue to be carried out to
serve Bank CIMB Niaga’s aim in achieving top-of-mind awareness in the market. Bank CIMB Niaga also strives to improve and complement its
e-channel features that it makes it easier for customers to independently and securely conduct transactions.

Consolidated Based Analysis

For quarterly consolidated average values, we calculate Bank Only’s average 3-month LCR in the respective quarter and an average of 3
subsidiaries month-end LCR positions. This is due to our subsidiaries have not been able to calculate LCR on a daily basis. Furthermore, in term
of Assets, subsidiaries are relatively less compared to the Bank, thus Consolidated LCR figures are mostly driven by movement from Bank Only
composition.
On a consolidated basis, the average LCR in Q4 2020 was 235.17%, higher by 68.75% compared to the previous quarter Q4 2019 position of
166.72%. Higher LCR was due to the average HQLA in the Q4 2020 increased by eq. IDR 37.93 Tio due to higher Deposits and lower Loans while
average Net Cash Outflow have increased by eq. IDR 6.80 Tio. This mostly came from Bank Only activities. Compared to average individual LCR,
the addition of Subsidiary components makes the average Consolidated LCR lower by 1.03%. The addition of the Subsidiaries components are
not significant as they were relatively small in size when compared to the Bank component.

Table 8.b.1. Quantitative Disclosure of NSFR - Individual Bank
NSFR REPORT
Name of Bank : PT Bank CIMB Niaga Tbk (Individual)

Carrying Value based on Remaining Maturity
No. ASF Component (In Millions Rupiah)
≥ 6 months -
Non-Maturity¹ < 6 months
< 1 year
1 Capital: 42,818,699 - -
2 Capital based on Regulator Requirement : 42,818,699 - -
3 Other Capital Instruments - - -

4 Deposit from Retail and SME 56,949,090 41,634,905 7,457,835
5 Stable deposits 43,829,012 20,160,167 1,763,986
6 Less stable deposits 13,120,079 21,474,737 5,693,848
7 Deposit from Wholesale : 39,899,757 39,234,557 3,092,109

8 Operational deposits 20,765,058 - -
9 Other Deposit 19,134,698 39,234,556 3,092,108
10 Liabilities that have interdependent asset pairs - 10,470,736 -
11 Liabilities and other equity : 402,982 6,908,537 3,544,000
12 NSFR liabilities derivative - - -
13 Equity and other liabilities that do not fall into the above categories 402,982 6,908,537 3,544,000,00
14 Total ASF - - -
RSF Component
15 Total HQLA for the calculation of NSFR - - -
16 Deposits in other financial institutions for operational purposes 2,017,694 - -
17 Loans with Current and Special Performance (performing) - 24,796,749 10,432,358
18 To financial institutions that are guaranteed with Level 1 HQLA - 522,857 -
19 To a guaranteed financial institution not with HQLA Level 1 and a loan to an - 2,365,501 1,007,165
unsecured financial institution
20 to non-financial corporations, retail customers and micro and small business - 18,969,203 6,695,631
customers, the central government, the governments of other countries, Bank
Indonesia, central banks of other countries and public sector entities, including:
21 qualify for a weighted risk of 35% or less, in accordance with SE OJK ATMR for - 11,929 12,334
Credit Risk
22 Unsecured home mortgage loans, which include: - 300,219 296,275
23 qualify for a weighted risk of 35% or less, in accordance with SE OJK ATMR for - 1,506,335 1,489,154
Credit Risk
24 Securities with Current and Undercurrent (performing) categories that are - 1,120,704 931,800
not being pledged, do not default, and are not included as HQLA, including
exchange-traded shares
25 Assets that have interdependent liability pairs - - -
26 Other assets: - 969,502 10,073
27 Physical commodities traded, including gold - - -
28 Cash, securities and other assets recorded as an initial margin for derivative - - -
contracts and cash or other assets that are deposited as default funds at
central counterparty (CCP)
29 NSFR Asset Derivative - - -
30 NSFR liability of derivative before deducting with variation margin - - -
31 All other assets that do not fall into the above categories - 661,246 10,073
32 Administrative Account - - -
33 Total RSF - - -
34 Net Stable Funding Ratio (%) - - -
¹ Components reported in the non-term category are components that do not have a contractual period, including:
*Permanent (perpetual) capital instruments, short positions, open maturity positions, demand deposits, equity that are not included in the HQLA and commodity
categories


Recorded Value Based on Remaining Maturity Ref. No. from
Total Weighted (In Millions Rupiah) Total Weighted NSFR Working
Value ≥ 6 months - Value Paper
≥ 1 year Non-Maturity¹ < 6 months ≥ 1 year
< 1 year
2,603,217 45,421,916 40,349,137 - - 2,060,256 42,409,393
2,603,217 45,421,916 40,349,137 - - 2,060,256 42,409,393 "1.1
1.2"
- - - - - - - 1,3
8,633,512 107,358,818 59,947,426 42,954,777 4,468,295 10,240,900 110,416,387 "2
3"
1,136,409,81 63,601,917 45,235,628 23,609,531 1,995,621 1,282,669 68,581,411 "2.1
3.1"
7,497,102,52 43,756,901 14,711,799 19,345,245 2,472,673 8,958,230 41,834,975 "2.2
3.2"
1,004,803 28,672,199 49,584,255 41,320,734 1,470,015 535,941 29,968,042 4
- 10,382,529 24,824,222 - - - 12,412,111 4,1
1,004,802 18,289,670 24,760,033 41,320,733 1,470,014 535,941 17,555,930 4,2
- - - 8,656,642 - - - 5
7,028,139 9,203,121 621,539 10,750,469 878,000 6,931,104 7,991,644 6
- - - - - 6,1
7,028,138 9,203,121 621,539 10,750,469 878,000,00 6,931,104 7,991,644 6.2 s.d. 6.5
- 190,656,053 190,785,465 7
- 2,410,637 3,695,450 1
- 1,008,847 3,389,585 - - - 1,694,792 2
158,523,647 145,520,271 - 19,879,957 11,575,982 134,411,932 123,684,457 3
- 52,286 - 1,207,930 1,097,593 - 669,590 3.1.1
5,012,665 5,871,073 - 2,639,988 1,093,191 2,986,746 3,929,340 "3.1.2
3.1.3"
121,674,111 114,782,431 - 13,125,745 6,760,783 98,337,053 93,529,759 "3.1.4.2
3.1.5
3.1.6"
220,382 155,380 - 12,365 12,693 185,735 133,257 3.1.4.1
3,927,259 3,636,418 - 327,867 336,478 4,338,902 4,020,239 3.1.7.2

25,185,784 17,868,504 - 1,571,792 1,597,917 26,486,758 18,801,247 3.1.7.1
2,503,446 3,154,181 - 994,270 677,327 2,076,739 2,601,027 3,2
- - - - - - - 4
25,634,821 26,576,339 - 1,901,058 208,969 28,855,187 30,298,530 5
- - - - - - - 5,1
- - - - - - - 5,2
308,255 308,255 - - - 613,489 613,489 5,3

- - - - - - - 5,4
30,024,772 26,268,084 - 1,287,569 208,969 28,855,187 29,685,041 5.5 s.d. 5.12
81,083,036 1,028,254 - - - 79,860,268 893,664 12
- 176,544,350 - - - - 160,266,894 13
- 107,99% - - - - 119,04% 14

Individual Qualitative Analysis

Bank CIMB Niaga has always maintained NSFR figure within the limit set by Regulator (OJK) and refer to the provision set by the Regulator.
NSFR figure in December 2020 was 119.04% or still above the regulator’s limit. NSFR figure in December 2020 increased by 11.05% compared
to December 2019 position which was 107.99%.
Main factors that impact to the NSFR calculations:

The increase in NSFR in December 2020 when compared to December 2019 was due to decrease in the RSF value, while the ASF value remain
stable.
ASF: Individual Deposits increased by eq. IDR 3.06 Trillion or eq. IDR or eq. IDR 3.18 Trillion after weighted. That was due to improvement in
deposit quality where after weighted, Stable Deposit increased by eq. IDR 5.07 Trillion while Non-Stable Deposit increased by eq. IDR 1.89
Trillion. Total Funding from Corporate customers increased by eq. IDR 9.68 Trillion or eq. IDR 1.29 Trillion after weighted. However, the capital
component decreases by eq. IDR 3.1 Trillion due to changes in provision calculation methodology since January 2020 and decrease in current
year profit due to COVID-19 pandemic. In addition, Other Equity and Liabilities decreased by eq. IDR 1.43 Trillion after weighted. So the ASF
value slightly increases by eq. IDR 129 Billion from December 2019 to December 2020.
RSF: There is a shift in most of the Asset components that have a large RSF weight to the Asset components that have a low RSF weight. This is
as a result of a decrease in loan balance and allocated to the component of HQLA. Total Performing Loan disbursed decreased by eq. IDR 27.08
trillion or eq. IDR 21.28 Trillion after weighted. The decrease in loan balance is allocated to HQLA which grows by eq. IDR 29.52 trillion or IDR
1.28 Trillion after weighted. After weighted, the RSF value decreased by eq. IDR 16.28 Trillion.
Factors or conditions that cause an increase:

NSFR increase in December 2020 compared to December 2019 due to RSF components decreased by 9.22% or eq. IDR 16.28 Trillion after
weighted while ASF components slightly increased by 0.07% or eq. IDR 129 Billion after weighted.

Individual Qualitative Analysis

The increase in weighted value of ASF components are mainly due to:
• Deposits from Retail increased by eq. IDR 3.06 Trillion or eq. IDR 3.8 Trillion after weighted which come from Stable Deposits increased by eq.
IDR 5.33 Trillion or 5.07 Trillion after weighted while Less Stable Deposits decreased by 2.26 Trillion or eq. IDR 1.89 Trillion after weighted.
• Increase in Wholesale Deposit by eq. IDR 9.68 Trillion or eq. IDR 1.29 Trillion after weighted which come from Operational Deposits increased
by eq. IDR 4.06 Trillion or eq. IDR 2.03 Trillion after weighted and Non-Operational Deposits increased by eq. IDR 5.62 Trillion or eq. IDR 734
Billion after weighted.
• Capital components decreased by eq. IDR 3.01 Trillion with 100% weight mostly due to decreased in Tier 1 Capital by eq. IDR 2.47 Trillion.
• Other Equity and Liabilities decreased by eq. IDR 1.43 Trillion after weighted due to bucketing displacement of Securities Issued where in >=
6 months until < 1 year bucket decreased by eq. IDR 2.67 Trillion (50% weight) while in < 6 months bucket increased by eq. IDR 3.33 Trillion
(0% weight).
The decrease in weighted value of RSF components are mainly due to:
• Decrease in Loan to Non-FI, Retail and SME customers, Central government, Government of other countries, PSE and others by eq. IDR 26.18
Trillion or eq. IDR 21.26 Trillion after weighted.
• Unsecured financial institutions and other financial institutions decreased by eq. IDR 1.94 Trillion after weighted mostly due to decrease in
> 1 year bucket of eq. IDR 2.03 Trillion with 100% weight.
• Non-HQLA Securities decreased by eq. IDR 808 Billion or eq. IDR 553 Billion after weighted.
• Nostro increased by eq. IDR 1.37 Trillion or eq IDR 686 Billion after 50% weight.
• Reverse Repo outstanding increased by eq. IDR 1.78 Trillion or eq. IDR 617 Billion after weighted.
• Mortgages increased by eq. IDR 1.95 Trillion or eq. IDR 1.32 Trillion after weighted.
Optimum Asset and Liabilities management is carried out by referring to Liquidity Risk Management framework that has been implemented
by management through the Risk Management Work Unit with the principle of prudence.

Table 8.b.2. Quantitative Disclosure of NSFR - Bank with Subsidiaries
NSFR REPORT
Name of Bank : PT Bank CIMB Niaga Tbk (Individual)

Recorded Value Based on Remaining Maturity
No. ASF Component (In Millions Rupiah)
≥ 6 months -
Non-Maturity¹ < 6 months
< 1 year
1 Capital: 43,281,010 - -
2 Capital based on Regulator Requirement : 43,281,010 - -
3 Other Capital Instruments - - -

4 Deposit from Retail and SME: 56,949,090 41,634,905 7,457,835
5 Stable deposits 43,829,012 20,160,168 1,763,987
6 Less stable deposits 13,120,079 21,474,737 5,693,849
7 Deposit from Wholesale: 39,875,971 39,494,557 3,121,655

8 Operational deposits 20,741,271,79 - -
9 Other Deposit 19,134,698,93 39,494,557 3,121,655
10 Liabilities that have interdependent asset pairs - 10,470,737 -
11 Liabilities and other equity : 402,982 6,908,537 3,544,000
12 NSFR liabilities derivative - - -
13 Equity and other liabilities that do not fall into the above categories 402,982 6,908,537 3,544,000
14 Total ASF - - -
RSF Component
15 Total HQLA for the calculation of NSFR - - -
16 Deposits on other financial institutions for operational purposes 2,017,694 - -
17 Loans with Current and Special Performance (performing) - 25,366,132 11,027,132
18 to financial institutions that are guaranteed with Level 1 HQLA - 522,857 -
19 to a guaranteed financial institution not with HQLA Level 1 and a loan to an - 2,247,069 1,007,165
unsecured financial institution
20 "to non-financial corporations, retail customers and micro and small business - 19,657,018 7,290,405
customers, the central government, the governments of other countries, Bank
Indonesia, central banks of other countries and public sector entities, including:
"
21 qualify for a weighted risk of 35% or less, in accordance with SE OJK ATMR for - 11,929 12,334
Credit Risk
22 Unsecured home mortgage loans, which include: - 300,219 296,275
23 Qualify for a weighted risk of 35% or less, in accordance with SE OJK ATMR for - 1,506,335 1,489,154
Credit Risk
24 Securities with Current and Undercurrent (performing) categories that are - 1,120,704 931,800
not being pledged, do not default, and are not included as HQLA, including
exchange-traded shares
25 Assets that have interdependent liability pairs - - -
26 Other assets: - 974,784 14,397
27 Physical commodities traded, including gold - - -
28 Cash, securities and other assets recorded as an initial margin for derivative - - -
contracts and cash or other assets that are deposited as default funds at
central counterparty (CCP)
29 NSFR Asset Derivative - - -
30 NSFR liability of derivative before deducting with variation margin - - -
31 All other assets that do not fall into the above categories - 666,529 14,397
32 Administrative Account - - -
33 Total RSF - - -
34 Net Stable Funding Ratio (%) - - -
¹ Components reported in the non-term category are components that do not have a contractual period, including:
permanent (perpetual) capital instruments, short positions, open maturity positions, demand deposits, equity that are not included in the HQLA and commodity
categories

Recorded Value Based on Remaining Maturity Ref. No. from
Total Weighted (In Millions Rupiah) Total Weighted NSFR Working
Value ≥ 6 months - Value Paper
≥ 1 year Non-Maturity¹ < 6 months ≥ 1 year
< 1 year
2,634,807 45,915,817 40,981,243 - - 2,090,070 43,071,313
2,634,807 45,915,817 40,981,243 - - 2,090,070 43,071,313 "1.1
1.2"
- - - - - - - 1,3
8,633,512 107,358,818 59,947,426 42,954,777 4,468,295 10,240,900 110,416,387 "2
3"
1,136,410 63,601,918 45,235,628 23,609,532 1,995,622 1,282,669 68,581,412 "2.1
3.1"
7,497,103 43,756,901 14,711,799 19,345,245 2,472,673 8,958,230 41,834,975 "2.2
3.2"
1,654,877 29,325,153 49,336,339 41,370,734 1,477,321 1,413,502 30,725,298 4
- 10,370,636 24,576,306 - - - 12,288,153 4,1
1,654,877 18,954,518 24,760,033 41,370,734 1,477,321 1,413,502 18,437,145 4,2
- - - 8,656,643 - - - 5
7,290,752 9,465,734 621,539 10,750,469 878,000 7,529,017 8,589,556 6
- - - - - 6,1
7,290,752 9,465,734 621,539 10,750,469 878,000 7,529,017 8,589,556 6.2 s.d. 6.5
- 192,065,523 192,802,555 7
- 3,288,224,95 3,695,450,02 1
- 1,568,370 3,389,585 - - - 1,694,792 2
139,404,636 128,391,948 - 19,879,957 11,575,982 134,411,932 123,684,457 3
- 535,562 - 1,207,930 1,097,593 - 669,590 3.1.1
3,707,459 4,578,160 - 2,639,988 1,093,191 2,986,746 3,929,340 3.1.2
3.1.3
102,724,671 97,424,778 - 13,125,745 6,760,783 98,337,053 93,529,759 3.1.4.2
3.1.5
3.1.6
187,886 135,493 - 12,365 12,693 185,735 133,257 3.1.4.1
4,193,468 3,894,101 - 327,867 336,478 4,338,902 4,020,239 3.1.7.2

26,122,160 18,609,740 - 1,571,792 1,597,917 26,486,758 18,801,247 3.1.7.1
2,468,993 3,214,114 - 994,270 677,327 2,076,739 2,601,027 3,2
- - - - - - - 4
30,024,772 31,229,404 - 1,901,058 208,969 28,855,187 30,298,530 5
- - - - - - - 5,1
- - - - - - - 5,2
308,255 308,255 - - - 613,489 613,489 5,3

- - - - - - - 5,4
24,020,245 24,663,115 - 1,287,569 208,969 28,855,187 29,685,041 5.5 s.d. 5.12
81,083,036 1,028,254,54 - 79,860,268 - - 893,665 12
- 176,845,731 - - - - 161,212,880 13
- 108,61% - - - - 119,60% 14

Consolidated Qualitative Analysis

The Consolidated NSFR figure is 0.56% higher than the Individual NSFR figure as a result of an increase in the value of the capital component by eq. IDR
662 Billion and additional loan deposits from other banks to subsidiaries in > 1 year bucket amounted eq. IDR 878 Billion after consolidation.
NSFR Consolidated in December 2020 was 119.60% or still above the Regulator limit. NSFR Consolidated figure has increased compared to December
2019 which was at 108.61%. The increase in NSFR figure for December 2020 compared to December 2019 was due to increase in the weighted value of
ASF component by eq. IDR 737 Billion while RSF weighted value decreased by eq. IDR 15.63 Trillion. This resulted in an increase of 10.99%.
Compared to December 2019, increase in ASF was due to an increase in Retail Deposit by eq. IDR 3.18 Trillion after weighted, Wholesale Deposit increased
by eq. IDR 1.40 Trillion after weighted while Capital components decreased by eq. IDR 2.84 Trillion and Other Equity and Liabilities decreased by eq. IDR
1.09 Trillion after weighted.
While for RSF, it was decreased by eq. IDR 15.63 Trillion which was contributed by decrease in Loans that allocated to HQLA. The performing and special
mention Loans have decreased by eq. IDR 27.17 Trillion or eq. IDR 21.33 Trillion after weighted while HQLA increased by eq. IDR 29.51 Trillion or eq. IDR
1.28 Trillion after weighted. Considering the Subsidiary’s asset size is not significant compared to the Bank, in consolidated accounts it has only a small
impact.
Both the Bank and Subsidiaries are supervised separately by Regulator with slightly different parameters. The Bank and Subsidiaries always maintain
compliance and prudence in running existing business.
Table 8.c. Quantitative Disclosure – Encumbered Assets (Encumbrance)
a b c d
in million Rupiah Optional Central
Encumbered Unencumbered Total
bank facilities
Cash and cash equivalents - - 4,605,639 4,605,639
Placements with Bank Indonesia - 18,289,875 - 18,289,875
Marketable Securities (HQLA Level 1) 8,813,772 - 51,470,797 60,284,569
Corporate securities (HQLA Level 2a and 2b) - - 4,016,328 4,016,328
When compared with the position in June 2020, the significant changes are explains as follows:
a. The amount of Securities as the underlying in Repo transactions increased by Rp8.17 trillion which is allocated to cover the decline in Third Party Funds
at the end of December 2020.
b. Total Securities (HQLA Level 1) increased by Rp10.82 trillion and Placements with Bank Indonesia increased by Rp2.10 trillion, which is an allocation of
the decrease in loans.
c. Total Cash and Cash Equivalents increased by eq. Rp678 billion as a form of preparation for customer withdrawal transactions at the end of the year.
Liquidity risk measurement is carried out through several methods, as follows:
1. Liquidity Gap based on normal (business as usual) and stress conditions.

The Bank measures liquidity risk primarily based on cash flow projections on assets and liabilities, including
administrative accounts and commitments (liquidity gap). The projected cash flow is based on maturity profiles both
contractual and behavioral. The measurement also considers the gap in the balance sheet arising from exchange
rates between the Rupiah and foreign currency.

The liquidity risk assessment tools are prepared Liquidity stress testing is conducted based on a scenario that
under two possible scenarios, normal and stressed is extreme but plausible, stemming from either a specific
conditions (crisis). As threshold target that should be (idiosyncratic) factor within the Bank or a market-wide
met, the Bank should be able to cover cash outflows phenomenon. This will influence the mitigation measures
through cash inflows during the upcoming 30-day taken to avert the crisis. An idiosyncratic scenario is where
period (short-term). the Bank is assumed to experience a liquidity crisis, while
the market operates normally. Whereas in the market-
2. Liquidity Coverage Ratio (LCR) wide scenario, the whole financial market is assumed to
LCR is a ratio that reflects the Bank’s short term experience significant stress. These stress tests are carried
liquidity resilience in a crisis condition. The ratio out periodically or as needed, to ensure the Bank’s liquidity
measures the sufficiency of high quality liquid assets position is always managed within its limits.
to cover net cash outflows.
Essentially, the liquidity stress scenario assumes that the
3. Net Stable Funding Ratio (NSFR) Bank will experience an increase of outflows beyond the
NSFR is a measurement tool to ensure that the normal limit, a decrease of inflows due to counterparty
Bank has adequate stable funds to finance its asset defaults, and decreasing portfolio value of the Bank’s liquid
activities, to the extent that such stability could assets due to market risk. These assumptions are regularly
mitigate liquidity risk during crisis over a longer reviewed and approved by management through the ALCO
period time. meeting. The stress test results are discussed in the ALCO
forum, and if those results are below threshold or limit, Bank
4. Other Liquidity Indicators can decide on the required corrective measures.
The Bank has other liquidity indicators as
complementary monitoring tools, such as the ratio In managing liquidity risk, the Bank is supported by ALM-
of liquid assets to total third party funds, interbank Risk systems and a robust infrastructure that can provide
borrowing, ratio of concentrated funds, and others. comprehensive information to enable accurate and quick risk
mitigation responses. The system generates all information
CIMB Niaga monitors liquidity risk exposure that is measured from the core banking system with a high level of quality and
through several aforementioned methods and is monitored integrity.
to comply with the limits that have been established for
both internal use and regulatory authorities. Monitoring is CONTINGENCY FUNDING PLAN
also based on the risk reports that are regularly submitted The Contingency Funding Plan (CFP) is a component of the
to Management. These reports are to monitor the current Bank Liquidity Risk Management Policy, which provides
liquidity condition of the Bank along with an analysis of guideline for procedures and operations during a crisis
the changes in the indicators. In cases where a risk limit is protocol. Periodically, the Bank carries out a CFP Test
breached, the Bank has escalation procedure that is layered to increase risk awareness and the readiness of senior
from senior management to ALCO. Management to act with precision at times of a funding
crisis. The Bank carries out these CFP tests to ascertain
Further, the Bank has an Early Warning System (EWS), which that processes and procedures can proceed as planned
provides Management with early warning in the event of a during a real crisis.
deteriorating situation that could compromise the liquidity
position of the Bank. Essentially, EWS provides information on In a real crisis, the Bank will form the Funding Crisis
indicators that are reported daily, including macro indicators, Management Team (FCMT) that comprises of all Directors
banking and financial system indicators, Bank’s internal and several senior Management personnel. The FCMT will
indicators, and those that are reported based on unusual then coordinate and disseminate the Bank’s responses to
circumstances that can signal harm to the reputation and the crisis to all units of the Bank.
stability of the Bank. The establishment of EWS indicators is
part of the procedures of the Contingency Funding Plan (CFP) The CFP policies are reviewed each year and approved by
that is approved by ALCO. ALCO.

OPERATIONAL RISK
GOVERNANCE • The Bank will only approve new products and

The philosophy of operational risk management is transactions, products and markets in which the Bank
based on the three lines of defense that integrate all of has the expertise and ability to carry out effective and
the activities in operational risk management starting proactive risk management (for example, the ability
from the process of identification to assessment, to identify, measure, manage, monitor, and report on
mitigation and reporting to Senior Management as well the risks and other related risks attached to the new
as the oversight of the Board of Directors and Board of products and transactions). Every new product and
Commissioners. The Board of Commissioners and Board service must be compiled comprehensively and must
of Directors are responsible for developing organisation obtain approval from the Committee at the Board of
culture that is aware of operational risk and foster a Directors level.
strong commitment towards managing operational risk • The Bank evaluates, updates and enhances its policies
in line with the business strategy of the Bank. and procedures on an ongoing basis to support
the operation and risk management of all types of
Overall, the Board of Directors is responsible to ensure products and activities of the Bank.
the right oversight by Management over the operational • The Bank requires that each Operating Unit and/
risk of the Bank. The Board of Directors sets the risk or business activity has comprehensive business
appetite and risk tolerance level in a consistent manner continuity procedures and access to disaster recovery
and in line with the Bank’s objectives and expected risk facilities.
profile. • The Bank provides an adequate resources and
systems withcurrent business activities and future
The Operational Risk Committee (ORC) is appointed by plans.
the Board of Directors (BoD) to assist BoD’s duties related • Risk taking authority is only given to personnel
to managing operational risk. ORC has authority over all who have adequate capabilities and expertise in
aspects of operational risk including the developments of accordance with the risk level.
the Business and Support Units that may have an impact • The Bank has segregated of duties and functions
on the Bank’s operations. based on “Four Eyes Principles” concept to ensure
objectivity and to avoid conflicts of interests.
POLICIES, PROCEDURES, AND LIMIT SETTING
The Bank has policies for operational risk management In supporting the implementation of the Operational
that is applied bank-wide; for daily operational activities Risk Management framework, the Bank has a set of
the Bank has also established operating procedures that operational risk management policies as follows:
governs the flows of operational activities that need to a. Operational Risk Management framework
be carried out by each unit, duties and responsibilities, b. Event Data Management and Operational Risk Loss
delegation and limits of authority, lines of reporting and Policy
escalation, and maker, checker and approval mechanism. c. Risk Control Self-Assessment Policy
d. Control Issue Management Policy
These policies and procedures are reviewed and updated e. New Products and Activities Policy
periodically to build and strengthen the Bank’s risk f. Significant Changes Assessment Process Policy
culture and Good Corporate Governance. g. Anti-Fraud Management Policy
h. Business Continuity Management Policy
The risk appetite for Bank’s operational risk management i. Information Technology Risk Management Policy
comprises of the following: j. Cyber Resilience Policy
• The Bank has risk appetite in accordance with the k. Information Security Policy
prevailing regulations and statutory provisions.
• The Bank will only perform activities on products,
services and locations that have infrastructure with
adequate controls and sufficient level of expertise
and a good understanding of the business in order to
conduct operational risk management.

RISK MANAGEMENT PROCESS Related to the thematic review, this can be done by
The operational risk management is carried out the Bank’s all lines of defense, either individually or
independently by the Operational Risk Management collaboratively by all three, as one of the efforts to
(ORM) that is responsible for establishing the policies of prevent and mitigate operational risk.
operational risk management, including implementing
bankwide’sframework. The Bank also has an independent Operational Risk Management Tools
unit, the Anti-Fraud Management, which is responsible
for as coordinating the implementation of the Strategy a. Loss Event Data Management (LEDM)
and Policy of Anti-Fraud. The process of recording and documenting
operational risk event, including the process of
The operational risk management process start with escalation and analysis of the root cause of event, in
identification, measurement, control and management, the order to improve the mitigation of operational
as well as follow-up and operational risk reporting that risk, including the sharing of lessons learnt in order
embedded in products, activities, processes and main the prevent similar events in the future.
systems that are carried out by all of the Bank’s lines
of defense, primarily the First Line of Defense or the b. Risk & Control Self-Assessment (RCSA)
Business/Support units as the risk-taking units. In every A structured approach that allows the 1st Line of
Business Unit and Support Unit a Risk Control Unit Defense to identify and assess key risks and controls
(RCU) is formed and/or Designated Compliance and in order to plan appropriate corrective actions
Operational Risk Officer (DCORO) is appointed, with the to minimize exposure to existing risks, including
aim of increasing the awareness of risk and accountability ensuring the effectiveness of the controls design
in the management of operational risk. through periodical testing.
IDENTIFYING RISK c. Key Risk Indicators (KRI)

• Identify and define events that have an impact on the Operational risk indicators that are monitored
achievement of a specific objective achievement of periodically with the aim of serving as an early warning
Bank’s business and support function. system for the Business Unit (BU) or Supporting Unit
• Conduct reviews on various sources of risk. (SU) to undertake mitigation on the operational risks
• Establish a comprehensive list of possible scenarios that occured.
for operational risk exposures.
• Sort different types of operational risks according to d. Control Issues Management (CIM)
their categories. A systematic and structured framework that records,
monitors and manages issues on operational
MEASURING RISK controls including the mitigation of operational risk
• Determine the possibilities or opportunities for risk comprehensively.
events in the future.
• Evaluate the impact of the current risk events. e. New Product Approval Process (NPA)
• Determine risk level, whether acceptable or The process of documenting the protocols for
unacceptable. new product and activity that will be implemented
in all business units, including the adequacy of
CONTROLLING AND MANAGING RISK identification process and risk measurement, control
• Prepare for risk mitigation plan and mitigation of risks, before the new product and/
• Review all possibilities that could be a source of or activity is offered to customers.
operational risk mitigation
• Re-evaluate the risks if necessary and perform priority f. Significant Change Assessment Process (SCAP)
adjustments The review process on risk and controls over internal
• Perform periodical review or thematic review to see if processes changes, especially those that have
there is the potential of weakness in control whether significant direct impact to the Bank’s business
by design or implementation continuity, with the aim of optimizing the trade-off
between risk-and-reward and the risk appetite of the
Bank.

g. Operational Risk Scenario Analysis (and Stress CIMB Niaga established BCM frameworks based on
Testing) (6) six pillars, namely:
A process to analyse capital adequacy from the 1. Pillar 1 : Target, Objective and Strategy of business.
standpoint of operational risk under stressed The BCM program is drawn up to support the
conditions. The scenarios are used to test sensitivities vision, mission and business strategy of the Bank.
from the Bank’s operational risk are turned into 2. Pillar 2 : The BCM Process. The formulation,
idiosyncratic scenario and parameter, which are then implementation and development of BCM,
used to measure the impact on the level of capital. comprising of:
a. The initiation program.
h. Anti-Fraud Strategy b. Understanding the bank ; to assist identifying
The anti fraud strategy is classified into 4 (four) pillars process of key products and services, and
of inter-related processes, namely: critical business functions including the
1) Prevention, comprising of Anti-Fraud awareness, supporting resources.
identification of vulnerabilities, Know Your c. Establishing the BCM strategy, including
Employee. ensuring the continuity of Critical Business
2) Detection, various ways and means that are Functions.
aimed at identifying and uncovering fraudulent d. Formulating and implementing BCM. This
activities, which at the minimum comprises of process relates to the development and
the Policies and Mechanism of Whistleblowing, implementation of adequate work plans that
Surprise Audit, Surveillance System. will ensure the continuity of critical activities
3) Investigation, Reporting and Sanctioning, various and crisis management.
ways and means that are aimed at generating e. Training on Maintenance and Review.
information, reporting systems including f. Building the BCM Culture.
sanctioning on fraud that at a minimum comprises
of investigation, reporting and sanctioning. 3. Pillar 3: Infrastructure. A key component in the
4) Monitoring, Evaluating and Follow-up, various formulation and management of the BCM lifecycle
ways and means that are aimed at monitoring program.
and evaluating fraudulent event and the required
follow-up on the basis of the evaluation result 4. Pillar 4 : Resources. The resources component
that at a minimum comprises of monitoring, is to ensure the success and effectiveness of the
evaluation and follow-up. BCM program, including the human resources,
budgeting and systems and technology.
i Business Continuity Management
CIMB Niaga is aware that organizations are can not 5. Pillar 5 : Culture. Putting the emphasis on
be spared from disaster disruptions caused by accountability and resposibility of each staff
nature or man-made disasters such as earthquakes, within the organization in regards of functions and
bombings, fires, floods, power blackouts, technical preparations for implementation, respectively.
glitches, negligences, labor strikes, riots and etc.
These disruptions do not only effect the technological
ability of the Bank but can also affect its operations,
moreover its services to customers. If not resolved
immediately, it can affect other risks such as
reputational risk that could erode customer trust
on the Bank. To mitigate these risks, the Bank has a
Business Continuity Management (BCM).

6. Pillar 6 : Assurance and Compliance. Focus on Change Management, Continuous Improvement, Communication,
Reward, and Training.
Training and skills enhancement in BCM is carried out periodically, to reach mass training capacity and to all staffs
of CIMB Niaga. The training programs rely on technology tools in the form of Gamification, in which training is
provided on line to staff smart phones, mandatorily. The program is introduced as Learning on Go (LoG), in which all
trainings that relate to Risk and Compliance are made compulsory, such as trainings on Operational Risk, Anti Fraud
Management, Anti Money Laundering, Information Security, Compliance, Code of Ethics, and others.
The Bank has also formed the Crisis Management Team (CMT) and Crisis Coodination Team (CCT) to face crisis conditions
with the following organization structure:
CORPORATE RECOVERY
STRUCTURE Crisis Management
Team (CMT)
Crisis Management
Team (CMT)
LOCATION RECOVERY
STRUCTURE Crisis Management
Team (CMT)
Damage Assessment Emergency Response Core Support Team

Team (DAT) Team (ERT) • HR
• SPAPM (admin & infra) • Floor Warden • SPAPM (admin & infra)
• Building Management • Location Incident • Compliance
Representative Coordinator • IT
• SPAPM (admin & infra) • Marketing & Communication
BUSINESS RECOVERY
STRUCTURE Incident Management
Team (IMT)
Group Head/Branch Area
Recovery Team (IMT)

3rd Party Vendor Div. Head/Branch PIC
The management information system on operational risk management is following principles:

a. CIMB Niaga using an information system that meets the requirement for operational risk management effectively. The
system and technology used are in line with the nature of transactions, volume transaction and requirement of the Bank.
b. A communication system that allows for the dissemination of information effectively, including those that cover the
policies and procedures of operational risk management, exposure to operational loss, and operational performance.

c. A management information system that supports the f. In implementing development, procurement and
operational risk management process comprising information technology implementation, the Bank
of the process of identifying, measuring, monitoring, should take precautionary steps to ensure the integrity
and controlling the risk as well as decision making by and security of the systems and the data that they
Management. generate, to support the objectives of the Bank.
d. The Board of Directors along with the Management team g. The Bank should have capacity of system support and
has to allocate optimal resources (funds and personnel) operational that could accommodate all of its business
in order to support the operations, development and activities.
maintenance of the system. h. The Management information system must be able to
e. In using information technology, Bank Management has provide reports and information on operational risk
to rely on sharp analysis, comprehensively, prudently exposures that is comprehensive, accurate and on
and accurately to identify and quantify the risk and time to enable decision making process by Board of
ensure the mitigation of risk exposures. Directors.
START
RCSA KRI LED NPA SCAP
• Assess Key Risk • Determine Attribute • Root Cause Analysis • Review Risk & • Review Risk &
• Assess Key Control & Threshold • Completeness Control Control
• Assess Residual Risk • Determine Owner of Required • Identify Gaps of • Identify Gaps of
• Regular Update the Information Control Design Control Design
Value
Any control weakness Any breach of Amber/ Any control gap Any control gap
Any mitigating action?
identified Red Threshold? design unresolved? design unresolved?
End Yes/No End Yes/No End Yes/No End Yes/No End Yes/No
No No No No No
Yes Yes
Yes Yes Yes
CIM
Approval for Recording

RCSA : Risk Control Self Assessment
KRI : Key Risk Indicator ShARP
LED : Loss Event Database
CIM : Control Issue Management Monitor & Closing
NPA : New Product Approval
SCAP : Significant Changes Assessment Process
ShARP : An Integrated System which cover all END
operational risk modules
INTERNAL CONTROL
In the implementation of an effective internal control system, there is a clear segregation of duties and responsibilities
in order to avoid conflict of interest. Any potential conflict of interest must be identified, mitigated and monitored
independently, by defining clear reporting lines and separation of function from business unit or support unit to unit
that performs controlling function.

The internal control systems support the operational risk A systematic MRTI process is needed to effectively identify
management in the following aspects: technology risk and build an information technology
• Conformity of the internal control system with the risk management system. Mitigating action have to be
type and level of risk that embedded in the business effective and timely as needed. MRTI must be part of
activities of the Bank. every activity on information security management at
• Establishment of authority and responsibility for the Bank and must be seen as an implementation and
compliance, procedures and limits monitoring. activities of the management of IT and information.
• Establishment of clear reporting lines and segregation
of functions between the business/supporting units An assessment of the probability of an event/incident and
and the units are responsible for the control function. its associated impact and consequences is the general
• Organizational structure that clearly illustrates the method to assess and measure technology risk. Other
Bank’s business activities. means include considering causal factors behind the
• Adequacy of procedures to ensure the Bank comply event/incident such as threat, vulnerabilities, exposure
with prevailing regulations and laws. and asset value.
• Effective, independent and objective reviews of the
assessment procedures of the Bank’s operational MRTI is a continuous process, which consists of
activities. established external and internal contexts and narratives,
• Verification and periodic and continuous reviews of assessment and management of risks and the exercise of
Bank’s weaknesses to rectify deviation that occured. controls in accordance with the associated risk and based
on the recommendations and decisions of Management.
An effective internal control system requires the The process involves an analysis of a likely condition and
establishment of appropriate control structures, by the impact as well as the actions that need to be taken
describing control activities at each business level, to manage the risk to a level that is within the Bank’s
including reviews by Senior Management; appropriate risk tolerance. The MRTI process can be applied to all
control measures for different sections or divisions; information systems, whether those that are operational
oversight on compliance with exposure limits and or still under development.
sanctioning for non-compliance; approval and
authorization system; and verification and reconciliation The information technology risk is the risk of loss arising
system. from inadequate processes, human error and the use
of technology. The definition covers operational risk,
In the implementation of an effective internal control compliance risk, and reputational risk as a result of loss/
system, there is a clear segregation of duties and damage resulting from inadequate and/or failure of
responsibilities, as well as the appointment of non- process, human error and/or technology malfunction,
conflicting employees. Any potential conflict of interest but excluding strategic risk.
must be identified, mitigated and independently
monitored. The assessment of risk and the choice of risk mitigation
taken must form a part of the development and
Information Technology Risk Management implementation of every system. The policy governs
The main objective of Information Technology Risk matters that are related to the management of
Management (MRTI) is to protect the information information technology risk including the process of Risk
technology assets as well as CIMB Niaga’s proprietary Assessment (RA). The risk assessment is a systematic
information. MRTI is the Bank’s process that allows process that covers planning, preparation, assessment
for balancing between the operating/economic cost of the technology risk of a system, and the establishment
on those protective measures and the benefits of the of control/mitigation over said risk.
protected information technology system and data
towards achieving the main goals of the Bank.

The IT risk management is carried out by considering the To achieve a condition of cyber resiliency, it is important
followings: for the Bank to be aware of the phases of a cyber-attack.
1. Availability of the Information Technology Risk This is intended to determine the controls that the Bank
Management Policy that is updated periodically. will use to thwart any form of cyber-attack. There are
2. Availability of IT risk library that conforms with current seven phases of a cyber-attack, often called the Cyber Kill
conditions and is constantly updated with the results Chain, as follows:
of the IT risk assessment. 1. Reconnaissance, a reconnaissance process that is
3. Identification of risk is carried out periodically to carried out to obtain a picture of the attack target.
assure that safety threats and weaknesses have the 2. Weaponization, the process of making an ‘exploit’
appropriate mitigating action. that will be used specifically to attack the target that
4. To ensure that every risk that has been identified is has been identified in the previous phase.
properly documented and updated on a timely basis. 3. Delivery, the process of delivering the ‘exploit’ that
5. To ensure the availability of relevant IT controls as has been prepared to attack target.
a means to mitigate risks that have been identified 4. Exploitation, by using the ‘exploit’ that has been
in order to minimize the risk faced by the Bank in prepared beforehand, the attacker starts to carry out
accordance with the set risk appetite/tolerance of the the attack to gain access to the system/application.
Bank. 5. Installation, the process of installing a specific
6. All IT risks and control measures that have been Malware in the attacked system/application .
identified will be documented in the operational risk 6. Command & Control, at this phase the attacker is
management system. ready to take over the entire network of the attack
target (not merely a specific system/application of the
IT risk is one of the major operational risk, which means previous phases).
that the management of IT risks will be consistent and in 7. Actions On Objectives, once the entire network is
line with the Operational Risk Management Framework taken over, the attacker then sets out to achieve the
and Policy. In order to facilitate the management of IT main objectives of this attack, for instance to steal
risk at CIMB Niaga, IT risk is classified into seven main risk data, money and others.
categories, which are Data Management and Governance,
Third Parties, Security, Resilience, Project and SDLC, The Bank has cyber resilience capabilities, which among
Service Management, Governance and Compliance. others comprise of:
1. Anticipation – Readiness to face unexpected events
CYBER RESILIENCE and ensuring the continuity of business functions and
Dynamic advances in technology influences the way the activities.
Bank operates its business. As a bank, CIMB Niaga is 2. Resilience – The ability to continue with business
highly reliant on the use of technology and the Internet functions during unexpected events.
to achieve its business objectives. The use of technology 3. Recovery – The ability to return business functions to
and the Internet by the Bank creates a new risk type that normal during and after an unexpected event.
has to be managed, namely the cyber risk. 4. Evolution – The ability to make adjustments to
business functions or support functions to minimize
The cyber risk itself arises in the form of threat, the impact of an unexpected event.
vulnerability and attack on the computer network,
systems, application and data as a result of their
interconnectivity with the Internet.

To acquire cyber resiliency, the Bank has developed the understanding of business context, critical business
following processes: functions supporting resources and cyber security
1. The process of identifying, classifying and determining risk exposures will enable Bank to determine its focus
priorities over critical business functions, information and priority in ensuring cyber resilience.
assets and related cyber risks. 2. Protection, this phase aims to depict the appropriate
2. The process of detecting cyber threats and protecting control to ensure the continuity of a critical
the Bank from a cyber incident to ensure the safety of infrastructural service.
information assets. 3. Detection, this phase contains activities to identify
3. Consistent monitoring process of cyber event. the possibility of a cyber security incident. In this
4. The process of responsiveness and recovery from a phase, a cyber security incident can be identified
cyber incident. early.
4. Responsive, this phase contains activities that must
The Framework of Cyber Risk Management is divided be taken in the event of a cyber security incident. In
into five phases, as follows: this phase, the impact of a cyber security incident can
1. Identification, this phase aims to build the be mitigated in an integrated manner.
same understanding across the Bank for the 5. Recovery, , this phase contains activities that must be
risk management and cyber security of systems, taken to manage a recovery to a planned service level
functions, assets, personnel and data of the Bank. An such that the service can still function as it should.
QUANTITATIVE DISCLOSURE OF OPERATIONAL RISK
Table 9.a. Disclosure of Operational Risk - Bank only
in million Rupiah
No. Approach Used Gross Income Gross Income

(Average of last Capital Charge RWA (Average of last Capital Charge RWA
3 years)*) 3 years)*)
(1) (2) (3) (4) (5) (6) (7) (8)
1 Basic Indicator 15,447,872 2,317,181 28,964,759 14,807,434 2,221,115 27,763,939
Approach
Total 15,447,872 2,317,181 28,964,759 14,807,434 2,221,115 27,763,939
*)
For banks that use the Basic Indicator Approach in calculating Operational Risk
Table 9.b. Disclosure of Operational Risk - Bank Consolidated with Subsidiary
in million Rupiah
No. Approach Used Gross Income Gross Income

(Average of last Capital Charge RWA (Average of last Capital Charge RWA
3 years)*) 3 years)*)
(1) (2) (3) (4) (5) (6) (7) (8)
1 Basic Indicator 16,111,727 2,416,759 30,209,487 15,472,637 2,320,896 29,011,195
Approach
Total 16,111,727 2,416,759 30,209,487 15,472,637 2,320,896 29,011,195
*)
For banks that use the Basic Indicator Approach in calculating Operational Risk

LEGAL RISK
Legal risk may arise from the legal claims and/or weakness POLICIES, PROCEDURES AND LIMIT SETTING
in the juridical aspect. Weakness in juridical aspect arises The Bank has established the policies and procedures
due to weak contractual agreement by the Bank, due for managing legal risk that serve as the standard
to the absence of and/or changes in the underlying guidelines for legal risk management to provide legal
legislation that renders a contract that bank entered is protection for the Bank’s actions in accordance with
invalid, not aligned with the terms and conditions, also of prevailing regulations, both internal and external. The
a litigation process that arises from a law suit by a third legal risk management policies are communicated to the
party to the Bank or vice versa. employees through e-manual systems and e-mail blasts
the means to enhance the employee’s legal awareness
The Legal Risk Management Unit is responsible for and to ensure the quality of legal opinions, advisory and
managing legal risk, and as such monitors the legal risk the competence of personnel on the legal aspects that
regularly with the duties and responsibilities as follows: relate to the Bank’s activities.
1. Carry out an evaluation on the experience of losses in
the past and or industry experience due to legal risks. RISK MANAGEMENT PROCESS
2. Conduct analysis of legal risk exposure reports. CIMB Niaga ensures that the Bank has adequate
3. Ensure that legal risk management has been processes to identify, measure, monitor, and internal
conducted in accordance with applicable risk control as well the management information system
management policies and procedures. to prevent the possibility of litigation or a lawsuit. The
4. Provide advice to improve legal risk management. process is carried out by the Legal Organization and
5. Evaluate the effectiveness of the legal risk takes the form of action that is designed to prevent and/
management. or minimize the possibility of legal risk.
GOVERNANCE The management of legal risk begins from:

In terms of governance, the Board of Directors and 1. The process of developing a banking product,
the Board of Commissioners carry out active oversight 2. The formulation of policies and/or prior to the
through evaluation and decide the corrective actions execution of a transaction/contract up to the
needed in relation to legal risk. The Bank constantly settlement of the transpired legal case.
ensures adequate legal risk mitigation for all business 3. Post-mortem reviews from a legal standpoint on
activities. a certain product or on the execution of a certain
transaction.
In addition, legal risk profile reports are submitted 4. Handing the legal case by professional and setting
periodically both to the Board of Directors and Board aside provisioning expenses for potential loss (if
of Commissioners. Based on the reported results, the required).
Board of Directors and Board of Commissioners evaluate
and take corrective actions to improve the quality in the INTERNAL CONTROL
implementation of the Bank’s legal risk management. The Bank undertakes a comprehensive internal control
system on the risk management processes through
In principle, legal risk management is consistent with periodic reviews by the legal organization unit that
the Bank’s corporate governance policies and a code of carries out the Legal Quality Assurance function, the Risk
conduct that outlines the values adopted by the Bank Management Unit and Internal Audit Unit.
and sets standards of conduct for all staff in CIMB Niaga.

REPUTATIONAL RISK
Reputational risk arises from declining stakeholder The Bank will prepare proactive actions that have been
confidence in the Bank that results from negative perception drawn up in the procedures such as the standard
that stakeholders may have on the Bank. To avert this, the Frequently Asked Questions (FAQ), Standby Statement as
Bank carries out thorough analyses and evaluations on new preparation and anticipation in responding to the media
as well as existing products and services. The Bank relies or customers inquiries that relate to cases or events that
on the principles of TARIF (Transparency, Accountability, are potentially harmful to the Bank’s reputation.
Responsibility, Independence and Fairness) to guide all of
its business activities not only to protect its reputation, but RISK MANAGEMENT PROCESS
also to forge strong relationships with stakeholder. A key Overall, the Bank continues to instill the importance of
element to protecting reputation is to pay more attention reputational risk management at all organization level,
to frequent customer complaint in order to find innovative through the socialization of the Bank’s vision and values
solutions to problems and deficiencies. (corporate values).
To effectively manage reputational risk, CIMB Niaga As part of the reputational risk management process,
has formed the Sub Directorate of Marketing, Brands & the Bank provides a medium of communication for
Communication, which supported by Corporate Affairs customers who are experiencing an inconvenience
and Customer Experience Resolution to monitor and in their banking transactions with CIMB Niaga. This is
report important issues that have significant impact on demonstrated by the Bank’s commitment to provide
Bank’s reputation. social media services through the CIMB Niaga official
account on Twitter @CIMBNiaga, Facebook ‘CIMB Niaga’,
GOVERNANCE Instagram @CIMB_Niaga, and the CIMB Niaga 14041
The Board of Commissioners and Board of Directors Call Center service which operates 24 hours a day. In
constantly provide oversighton the Bank’s reputational addition to resolving complaints, the Bank also considers
risk management pursuant to their authorities and inputs from customers on how to improve Bank services.
responsibilities, assisted by the unit that is in charge of The Customer Relations Management (CRM) system
managing reputational risk, including the governance of is a bank-wide customer complaint recording system.
reputational risk management that covers: The recorded complaints are immediately referred to
1. Evaluation of current issues, the appropriate parties for the quick response and
2. Information on development in news on the market, resolution by the relevant units. The Bank understands
3. Stakeholder perceptions and publications from mass that customers will feel more appreciated when their
media both reader’s letters and articles, inputs or suggestions are being heard and considered.
4. Customer complaints that have a significant effect on Good recommendations are always welcomed at CIMB
the Bank’s reputation. Niaga and might even have a positive impact on the Bank,
differentiating it from other banks. For every grievance,
As part of the active oversight efforts of the Board of complaint or input, CIMN Niaga has formed competent
Directors, the Bank has also formed the Customer teams in their respective areas that are able to resolve
Experience Committee (CXC) that conducting periodic matters properly and accurately.
monthly oversight on issues related to customer
experience, primarily on how customer complaints In addition, the Bank, through the MBCX Unit, constantly
handling. Reputational risk is also one of the risks that are monitors news and customer complaints that are
discussed in Operational Risk Committee (ORC). conveyed through mass media in order to respond in a
prompt, accurate and responsible manner. To neutralize
POLICIES, PROCEDURES, AND LIMIT SETTING the negative sentiments arising from the news, the MBCX
In controlling reputational risk, CIMB Niaga has policies, Unit put the efforts to add keywords to listening tools that
procedures and mechanisms that improve service are linked directly with the Bank, as well those that are
quality, including the management of complaints from linked to the parent entity as the majority shareholder of
stakeholders (customers and other stakeholders) that the Bank, the Management Board of the parent entity, as
are embedded in the policies. well as with Malaysia as the country and main business
area where the parent entity is domiciled.

INTERNAL CONTROL
CIMB Niaga has adopted an internal control system for the management of reputational risk that includes the periodic
monitoring of customer complaints or negative reporting that may materially impact the Bank’s reputation or its
reputational risk control culture that involves all of the Bank’s business lines.
In addition, risk control is conducted by taking immediate corrective actions so that reputational risk is maintained in
accordance with the Bank’s risk tolerance limits.
STRATEGIC RISK
The business growth of the Bank in the future is closely POLICIES, PROCEDURES, AND LIMIT SETTING
related to its strategic decisions. As such, the Bank CIMB Niaga develops a general policy as the guideline for
always strives to improve its strategic risk management the implementation of the Bank’s strategy and business
quality, In this way, risks that arise from making and focus. In the process of identifying risks and responding
implementing the wrong strategic decisions, as well as to changes in the business environment, both externally
the failure to anticipate business environment changes and internally, the Bank performs regular analysis of
can be minimized or avoided altogether. The Strategy Unit the business environment within the micro- and macro-
manages strategic risk, and is responsible for reporting economic conditions that could affect the Bank’s income
the Bank’s performance to the Board of Commissioners, and business continuity.
the Board of Directors, and the Regulator.
The general policy or strategic direction of the Bank is
GOVERNANCE formulated in the short and medium term perspectives.
The Board of Commissioners and the Board of Directors The Bank’s Business Plan (RBB), for instance, outlines
undertake active oversight and management functions in the business activities of the Bank over the short-term
accordance with their authorities and responsibilities to period (one year) and medium-term period (three years),
determine the direction, strategy and business focus of covering plans to improve business performances,
the Bank. In addition to that, the Board of Commissioners develop new products and activities, network expansion
and the Board of Directors ensure that the Bank carries and the plan realization strategy consistent with the
out its activities in accordance with its risk management target and timeline, as well as ensuring prudential
framework and business plan, with due consideration of principles and risk management.
the risk exposures that the Bank is faced with.
RISK MANAGEMENT PROCESS
The Board of Directors provides general direction to CIMB Niaga continuously ensuring the adequacy of
all units with respect to the respective focuses of each identification, measurement, monitoring and controlling
unit. The Board of Directors and Senior Management strategic risk processes, among others by analyzing the
Team carry out the periodical performance evaluation realization of its business plan as well as the business
on the implementation of the Bank’s strategy, among environment.
others through the monthly Performance Management
Meeting (PMM). At the Board of Commissioners level, The process to measure strategic risk uses several
performance evaluation is also carried out periodically to parameters that include the suitability analyses of Bank’s
ensure that the business decisions taken by the Board of current strategy with existing business environment, the
Directors carry a positive impact on the Bank, are aligned Bank’s position among competitors and Bank’s Business
with the bank’s strategy and effective in creating added Plan (RBB) realization. The Bank constantly monitors its
value for the shareholders. performance and the progress of its business plan.

The Bank has implemented five core pillars of the INTERNAL CONTROL
medium-term strategy as a reference in running its The control over the strategic risk management includes
business, including: the periodic oversight of the Bank’s performance that
1. Focus our strengths, affects the Bank’s income as well as strategic risk control
2. Expanding the CASA franchise, culture involving all business lines of the Bank.
3. Discipline in cost management,
4. Preservation of capital and balanced risk culture, and CIMB Niaga also strives to enhance its controls over
5. Leveraging and developing information technology. strategic risks by establishing the success measure of
strategy based on quantifiable figures.
In addition, to strengthen its business, the Bank will

continue to improve the synergy and consolidation with
its affiliate and subsidiary entities.
COMPLIANCE RISK
Compliance risk management aims to minimize possible The Bank has a Director that is responsible for the
negative impacts resulting from the Bank’s failure to comply compliance function through the Compliance Operating
with regulations. The compliance management is following Unit (SKK). The SKK is an independent unit that carries out
principles: the functions of compliance pursuant to OJK regulations.
1. Compliance starts from the top.
2. Compliance is the responsibility of all parties. To support all operating units in meeting compliance
3. Compliance with prevailing laws and regulations. aspects, the SKK formulates the annual Compliance Plan
4. Competence and integrity. and Program. The realization and achievement of SKK in
5. Stakeholders oriented. the execution of the Compliance Program and Activities
6. Dedication to the Bank. in 2020 are presented in more details in the Section on
7. Problem-solving oriented. the Compliance Operating Unit of this annual report.
The Principles and Policies on Compliance are approved by POLICIES, PROCEDURES AND LIMIT SETTING
the Board of Directors, and the heads of all working units The Bank has the policies and procedures on compliance
are directly responsible for implementing compliance in that comprises the roles and responsibilities of the
their respective units, including ensuring corrective steps Three Lines of Defense in carrying out the management
on non-compliance and the oversight of the execution of of compliance risk. The Bank also carries out periodic
those corrective steps. reviews on the its appetite for compliance risk that is an
integral part of the overall Risk Appetite Statement.
GOVERNANCE
The Board of Commissioners and Board of Directors
undertake active oversight on the management of
compliance risk management to ensure the effectiveness
of compliance risk and support the Compliance Culture.
The Board of Commissioners and the Board of Directors
receive periodic reports on Bank compliance and provide
the necessary direction to support the Compliance
Culture of the Bank.

RISK MANAGEMENT PROCESS INTERNAL CONTROL

The process of compliance risk management of the Bank The Regulator, as an external party, reviews the Bank’s
is carried out by applying the principles and policies of internal control process over the implementation
compliance that is supported by the execution of several of compliance risk management. In addition, other
compliance programs as follows: independent units such as the Risk Management Unit
• Socialization/training programs on external (SKMR) and the Internal Audit Unit (SKAI) also carry out
regulations, including the regulations of stimulus/ reviews on Bank’s internal control process over the
loosening policies related to Covid-19. implementation of compliance risk management.
• Compliance tests on internal rules, new products
and activities to be aligned with statutory rules of the A more detailed description on the Compliance
Regulator. Management Unit (SKK) and the report of the execution
• Activity to monitor the Bank’s commitments to the of SKK duties are presented in the Section on Compliance
Regulator. Management Unit in this Annual Report.
• Activity to self-assess the Bank’s compliance risk.
INTRA-GROUP TRANSACTION RISK

The Intra-Group Transaction Risk may arise from the POLICIES, PROCEDURES AND THE SETTING OF
dependence of one entity, directly or indirectly, to another LIMITS
entity within a financial conglomerate with respect to The Bank has established adequate policies and procedures
the fulfillment of a written contractual or non-written to manage intragroup transaction risk based on prevailing
agreement, either with or without a subsequent transfer of statutory regulations. The policies and procedures are
funds. reviewed periodically to ensure the adequacy.
CIMB Niaga implements intragroup transaction risk RISK MANAGEMENT PROCESS

management for a Financial Conglomerate that currently The Bank has identified, measured, monitored, and
consists only of the Bank and Subsidiary Entities. The controlled the risk on assets and liabilities composition
Governance of Financial Conglomerate assures the as well as on the fairness of transactions among
fairness of transactions among entities of the Financial financial institutions within the financial conglomeration.
Conglomerate to avoid significant dependencies among Periodically, the Risk Management – Finance Unit monitors
entities. In addition, measurement and monitoring the intragroup transactions risk to ensure that limits are
processes are done by among others monitoring certain complied with, such as the Legal Lending Limit and meeting
ratios, such as gearing ratio, and compliance to the Legal the transaction fairness principles. Controls that are carried
Lending Limit rule of related parties and the arm’s length out through the policies and setting of limits are made by
principle. considering the Bank’s risk appetite.
GOVERNANCE The reporting process of intragroup transactions is

As part of active oversight, the Board of Commissioners and supported by adequate Management Information System.
Board of Directors receive periodic reports on intragroup
transactions. The reporting on exposures of intragroup INTERNAL CONTROL
transactions is carried out periodically to ensure intragroup In line with the internal control practices on the other
risk level that can be absorbed on the basis of analysis risks, CIMB Niaga also carries out periodic monitoring and
over the composition of assets and liabilities, as well as evaluation on risk exposures and financial performance
assessment of the intragroup transaction against the of the Bank, including intragroup transactions that are
complexity of the business. subsequently reported to the Board of Directors and Board
of Commissioners along with the report on the follow-up
actions that will be taken.

RATE OF RETURN RISK
Rate of Return Risk is the risk that arises as a result of RISK MANAGEMENT FRAMEWORK
changes in the value of returns and is often fluctuated. The management of rate of return risk is carried out
The returns that are received by the Bank from its by the Group that is responsible for Asset & Liability
financing may not be as expected to the extent that it Management (ALM). Risk monitoring is done periodically,
may impact the Bank’s earning. and should there be an increase or breach in the
limit that may lead to a deteriorating condition, this
The risk on rate of return may also arise from changes will be escalated to related committees such as Risk
in the behavior of third-party-funds customers, caused Management Committee (RMC) and Assets & Liabilities
by changes in expectations of the rate of return received Committee (ALCO) or Pricing Committee.
from the bank. Changes in expectations may be due to
internal factors such as the declining performance of RISK MANAGEMENT PROCESS
the Bank’s financing assets or to external factors when Risk Identification, measurement, and monitoring as
other banks offer higher rate of returns. Such changes in well as the mitigation process of the rate of return is
expectations on rate of return may trigger a transfer of undertaken by ALM Risk as the independent party to the
customer deposits to other banks. risk taking unit. This process is supported by adequate
infrastructure and human resources, which in line with
RISK GOVERNANCE the scope and complexity of the Bank’s and Shariah unit’s
The risk oversight of rate of return by the Board of business environment.
Directors is conducted through the Pricing Committee and
Assets & Liabilities Committee (ALCO). These committees The adequacy of human resources’ quantity and quality
manage the rate of return risk in accordance with the are always considered to support the effective process of
Bank’s risk appetite. Risk limits, policies and procedures risk management. Enhancement in the quality of human
for managing rate of return risk for UUS are following the resources is carried out through adequate training
direction or decision of the Pricing Committee. programs, involving both hard and soft skills.
At the level of the Board of Commissioners, the monitoring RISK CONTROL SYSTEM
on the rate of returns risk is conducted periodically Policies and procedures are reviewed regularly in line
through the Risk Oversight Committee (KIPER). KIPER with prevailing external regulations. The internal risk
evaluates the risk management process and provides control system is carried out by the ALM Risk through
direction on matters that require special attention. Active measurement, monitoring, and reporting. The Internal
oversight by the Board of Commissioners and Board of Audit Unit regularly and independently conduct oversight
Directors on the rate of return risk can be categorized as and audits on the implementation of internal control and
adequate. the adequacy of policies and its application.

INVESTMENT RISK
The financing based on Mudharabah/Musyarakah contract Risk Management Unit (SKMR) monitors UUS portfolio
by UUS CIMB Niaga is only carried out in the form of periodically, including analysis on economic sectors, type of
revenue sharing, in which the investment risk is relatively financing contracts, and others. The monitoring results are
lower than profit/loss sharing based financing. Also, the conveyed to Management through the Risk Management
Bank only applies the Mudharabah/Musyarakah contract Committee. In supporting risk management, human
only to reputable customers. resources are a primary concern. To enhance the quality of
human resources, the Bank carries out training on Sharia
In terms of identification, the risk assessment is conducted Banking continuously.
independently by the reviewer in the parent Bank (four-
eyes principle) and in line with the DBLM (Dual-Banking Internal audit are regularly performed by Internal Audit Unit
Leverage Model). The Bank monitors existing accounts in (SKAI) on sharia banking practices of the Bank including on
UUS on a periodical and continuous basis, among others sharia financin. The audit results are followed up by UUS.
through analysis of Days Past Due, post mortem review, and The results of the supervisory review result of the Sharia
the identification of Early Recognition Watch-List (ERWL). In Supervisory Board (DPS) are submitted to SKAI to improve
addition, close coordination is carried out with the Asset the internal control process over the DPS findings. Reviews
Restructuring & Recovery/ Loan Work Out group to resolve on risk management systems are carried out by SKMR
non-performing financing. Furthermore, stress test that is and SKAI in accordance with prevailing risk management
conducted periodically, also includes Sharia financing to policies. As part of risk identification and mitigation of
anticipate worst-case scenarios from the Bank’s internal financing products, the Risk Management Committee
and external factors. undertakes regular monitoring.
GOVERNANCE RISK – REMUNERATION POLICY
Disclosure of information on Remuneration Policy is explained in the GCG section of this Annual Report.




Supporting
Business Review
Human Resources 433
Operations and Information Technology 449

HUMAN RESOURCES
The COVID-19 pandemic outbreak in 2020 has significantly 1. CAPABILITY SOURCING

affected the way in which people interact and work. Many In order to achieve its business targets, the Bank
companies, including CIMB Niaga need to adapt to a new focuses on attracting talent from the market (talent
set of habits, the ‘New Normal’. magnet), especially those with the ability and
knowledge in sales, data, digital and technology. To
In order to continuously support business growth amid that end, the Bank has implemented several initiatives
the COVID-19 challenges, the Human Resources (HR) unit including:
has implemented various strategic initiatives, including a. Establishing collaboration with more than
process digitalization, online learning, study of new ways 40 universities, training service providers or
of working (Work From Home/Work From Office), and institutions and communities, in order to source
health protocols for employees to be applied both inside qualified talent, especially in sales, data, digital and
and outside the office. technology. These collaborations includes various
programs such as scholarships for employees
The Bank also continues to equip its employees with or best students, apprenticeship programs, the
digital capabilities to improve competitiveness in the face “Kejar Mimpi Talks” program –a discussion forum
of the industrial 4.0 revolution. In line with the above and idea exchange platform between students,
objectives, CIMB Niaga has implemented a strategic HR Bank employees and Kejar Mimpi community, on
plan for 2020 that focuses on the following: career and personal development topics, as well
as financial literacy education and other subjects.

b. Create online content for the “Kejar Mimpi Talks”

program in a podcast so that employees and
TESTIMONY
other society members will be able to follow the
discussions or inspirational stories without any
Participating in the Teller Development space or time limitations.
Program (TDP) - 2020 CIMB Niaga was an c. Strengthen the Bank’s corporate image as well
extraordinary experience and the best thing as employee value proposition in order to attract
that has ever happened during my career the best talent in the market by selecting internal
path. As a New Joiner, I have acquired various brand ambassadors in the Kejar Mimpi Employee
banking knowledge while participating in this Warrior program. The program is expected to be
program. They include grooming, how to able to introduce and build a positive image for
serve customers promptly, how to implement the Bank through inspiring creative content on
CIMB Niaga cross selling products and how to social media.
implement a positive customer experience
to increase customer satisfaction tailored to 2. CAPABILITY BUILDING
their needs. In order to prepare employee capabilities for the
4.0 industrial revolution, the Bank encourages each
The positive learning environment and employee to possess knowledge and skills related to
the support and guidance from the direct 3D (Digital, Data, Design), such as agile methodology,
supervisor has made me even more coding, data analysis, design thinking, and other skills.
convinced that joining the TDP serves as Throughout 2020, the Bank has provided training and
a very valuable opportunity to grow into a knowledge sharing of 3D (Digital, Data, Design) to
person with professional work experience. 29,287 participants (one employee can participate in
I will embrace the opportunity to continue several training modules).
improving my skills and competencies so as
to achieve a bright career in the future The Bank also implements a digital culture through
leadership development that focuses on digital
innovation. The Bank is committed to improving
middle and senior level management’s capability
in leading digital transformation through a Digital
Leadership program, by maximizing technology
to align processes and business goals as well
as establishing an ecosystem that encourage a
innovation.
In addition, to ensure leaderhip continuity within the

organization and business processes, particularly
for critical positions in the organization, the Bank
continues to identify successors as well as the
development plan in a structured and integrated
method.
The development program is set in a Development

Journey, which includes assessment of current
capabilities compared to the required Future
Capability, complemented by a development program
based on the Future Capability Gap to support the
Layla Efani Fauzia Bank’s transformation and digitization.
Teller Development Program batch 64
Teller
KC Jember

3. HIGH PERFORMANCE ORGANIZATION In order to improve an employee’s Learning

The Bank continues to implement a performance Experience, the Bank has begun a learning
management framework to support the Bank’s target methodology study that can provide easier, safer and
and aspiration achievements, starting from the targeted learning using Virtual Reality (VR) technology.
performance planning process through KPI setting, This method is carried out based on a scenario that is
performance monitoring in mid-year performance in accordance with real conditions (real scenario), and
appraisal, coaching for underperformed employees can be done without any necessity for employees to
through performance improvement plans, and year come to the training location.
end performance assessment processes that will be
used as the basis to determine performance-based The Bank also seeks to improve online learning
rewards. through the development of “Learning on the Go
(LoG)”, which offers new features such as easy
In order to establish High Performance Organization, viewing of learning journeys (My Learning Journey/
the Bank also provides project-based or performance- Quick Journey), a list of training modules (Content
based rewards to increase market competitiveness Library), Preview Modules, team member learning
and employee engagement, including incentive monitoring dashboard (Team Monitoring dashboard),
schemes to study for positions in branches by Leaderboard, Achievements, Rating Module; and
applying the hybrid concept hence, employees will a Reward System which can be converted into Poin
feel motivated to achieve targets by taking into Xtra. Throughout 2020, 352,478 employees have
account risk principles and the Bank’s financial participated in e-Learning & the LoG program.
capability.
CONTINUOUS INNOVATIONS
The Bank also conducts studies of organization The Bank continues to encourage innovation as a
effectiveness and efficiency, to ensure a sustainable solution for customers and create customer experiences
organization in the future. by enhancing digital banking capabilities. Responding to
current challenges in HR, the Bank also continues to carry
4. HR DIGITIZATION out various innovations and adaptations, including:
The Bank continues to improve its business processes
in a sustainable and comprehensive manner through 1. Integrated HR System
the development of process automation and system The Bank has developed cloud-based computing
digitization to increase the effectivity, efficiency, and technology (cloud computing) which includes
quality of employee services. organizational mapping, new hire requests,
recruitment processes, performance management,
HR has launched several initiatives including talent management, learning, and other HR processes
the development of integrated cloud-based HR up to termination, to increase effectivity and efficiency
technology (cloud computing); a Robotic Process as well as provide a better employee experience.
Automation (RPA) development to replace manual
repetitive work; development of an interactive report/
dashboard containing statistical data through data
analytics & insight applications, and also studies on
the use of machine learning to assist management in
decision making.

2. HR Dashboard The Health Protocols that have been implemented

The Bank has started the development of an include:
interactive and integrated HR dashboard, containing 1. Complying with government regulations including
statistical data of several HR key indicators, which rules in public areas or transportation, offices or
can be accessed through the Bank’s internal network. other locations, as a preventive and safety action.
HR indicators that are available in the HR dashboard 2. Independent health assessment before attending
include employee demographics, employee turnover, and at the office; and during Work from Home (WFH).
and employee recruitment. HR will continue 3. Paying attention to physical distancing and seating,
developing the HR dashboard automation to cover work arrangements, and the use of personal
other key HR indicators. belongings for dining/worship.
4. Conducting online meetings or meetings through the
3. Robotic Process Automation media provided by the Bank.
In order to achieve higher process efficiency, the 5. Ensuring self-hygiene and personal equipment with a
Bank has developed an HR automation application disinfectant when returning home from work.
through Robotic Process Automation (RPA) for Pre- 6. Understand procedures to manage employees with
Employment Checking. COVID-19 symptoms including for oneself.
4. Forward Way of Working The Bank also carried out several initiatives during the
In the face of the New Normal era, the Bank has COVID-19 pandemic related to prevention, handling,
started a study of FWOW (Forward Way of Working) communication and other employee activities, as follows:
implementation as a permanent solution in work. 1. Issued Guidelines of COVID-19 handling.
2. Implemented body temperature checks at every
The implementation of FWOW will consider employee building entrance.
safety and work flexibility/dynamics, according to the 3. Provided a portable sink.
nature and type of work. 4. Regularly disinfected the workplace.
5. Distributed of masks, hand sanitizer and vitamins.
Regarding the implementation of FWOW, the Bank 6. Installated acrylic dividers, especially for branch
will prepare facilities and infrastructure such as co- offices.
working spaces and virtual collaboration tools, to 7. Made adjustments to the Working Hours Arrangement
enhance employee engagement and productivity. to avoid the accumulation of employees during peak
The Bank has also considered the risks that may arise, hours.
through adjustments to Policies and Procedures. The 8. Implemented WFH Policy for Non-Critical work units
implementation of FWOW is also aimed at providing whose tasks can be accomplished at home.
added value for the Bank, including attracting talent, 9. Distributed additional laptops and Virtual Private
providing motivation for employees, increasing Network (VPN) access to support the WFH process.
employee productivity, and others. 10. Implemented the Split Operation Policy for units
which are deemed critical, to ensure that banking
COVID-19 HANDLING services continue to run normally.
The Bank has made particular efforts to maintain the 11. Issued policy regarding the obligation to report
safety and health of employees during the COVID-19 medical unfit employee.
pandemic and prevent its spread within the Bank, 12. Issued Travel Advice related to official or personal
by implementing health protocols that apply to each trips between cities and between countries.
employee. 13. Socialized through internal communication media
related to:
a. How to prevent the spread of viruses and health
campaigns
b. Guide to COVID-19 handling

In addition, the Bank also strives to increase employee

motivation and engagement while working during
TESTIMONY
the pandemic through various initiatives, including
communication from management, employee surveys,
as well as the “Anti Mati Gaya” (AMG) engagement Being a TCB during these uncertain times
program. The AMG program has 5 main pillars, which means that I am provided with the valuable
are Mental Health, Physical Health, Hobbies, Sharing opportunity to see how the experts in their
Sessions and Competitions & Other Activities. A areas ride this storm from a firsthand point of
complete description of AMG is available in the Employee view. Since the TCB program is designed with
Satisfaction and Engagement section. future leaders in mind, the program is created
to shape and equip us with the necessary
The Bank also provides financial and facility support tools to become impactful decision-makers in
to particular employees in a specific period, including our fields.
phone credit subsidies, additional food, transportation
allowances, and interest rate relaxation for employee Further, I am grateful to be positioned in a
loans. learning environment in which innovation
is not only welcomed but also actively
HR PROFILE encouraged. Through this program, I have
As of 31 December 2020, CIMB Niaga has a total of 12,064 learned how a bank works in a holistic manner
employees. The number of employees is determined with – understanding a bank as an entire machine
the needs of the Bank’s business operations and strategy, with moving parts that are co-dependent
both in terms of quantity and quality. A complete HR on each other, instead of separate singular
profile in 2020 and its comparison with 2019 are listed in gears. I am confident that beginning my
the Company Profile section of this Annual Report. career path as a TCB means that I am starting
with my best foot forward.
RECRUITMENT
In the middle of competition with various companies
in the banking sector, other industries, and start-up
companies, the Bank faces constant challenges in
recruiting the right talent to fit with the corporate values
and required skills. In order to attract the best talent to
support business needs, CIMB NIaga focuses on seeking
quality talent that possesses integrity, adaptability to
change (agile), and superior competencies. To that end,
the Bank implements a comprehensive recruitment
program by prioritizing the principles of openness,
fairness and equality.
Nasya Gwyneth Cahyadi Ng

TCB/Batch 21
Relationship Manager
Corporate Syndication & Asset Distribution

In 2020, the Bank has recruited the best talents aligned b. Junior Management and Entry Level
with the business needs, especially in the field of data i. Using a variety of recruitment methods, such
analysis and digital technology. Each candidate will as recruitment on campus, course institutions,
go through various evaluation processes such as or training service providers, using digital
background checks, educational history, employment platforms for the entire recruitment process
history, financial condition history and potential money including sourcing and job posting connected
laundering (using the Debtor Information System (SID to various job portals and campuses, career
and Bank’s Anti Money Laundering database, social fairs and the Kejar Mimpi application.
media and health checks, to ensure the Bank recruits the ii. Developing external talent through
right talent. scholarship programs and apprenticeship
programs for outstanding students as a fast-
Furthermore, the Bank also uses various assessment track path to becoming Bank employees.
tools for candidate profiling analysis, aligned with the iii. Providing development programs for entry-
competencies, core values and the culture of the Bank. level programs intended for fresh graduates
The Bank recruits highly qualified talent from both to prepare the Bank’s future leaders or specific
internal and external sources. career path specialization.
iv. Collaborating with various universities in
1. Internal Recruitment Indonesia or abroad, training service providers
The Bank owns a “2+3+3 policy” program that allows or institutions, and communities in order to
employees who have a minimum work period of 2 build a student database and provide the best
years and with a minimum work performance score students with opportunities to participate in
that meets the target, to be eligible for transferring to the selection process for entry-level positions
a new placement with a 3-month transition period. at CIMB Niaga.
v. Developing various communication tools
The implementation of the internal employee to strengthen the image of the Bank and
movement program is expected to support the employee value proposition in attracting talent
development of an employee’s career, competency in the market through various online and
and capability, in order to become “agile” talent and offline media, including campaigns through
reduce potential operational risks. Furthermore, the social media, job portals, establishing forums
Bank also implements a structured and integrated for discussions/ seminars/talkshows/lectures
career acceleration program for critical and strategic for Bank employees and external parties in
positions. Positions that cannot be fulfilled internally CIMB Talks or the Kejar Mimpi Talks program,
will be filled from external recruitment. select employee ambassadors to promote
the positive image of the Bank in various
2. External Recruitment offline and online channels, as well as various
The Bank implements external recruitment through activities related to education, philanthropy,
several methods as follow: environment, community development and
a. Senior and Professional Hire, the Bank exercises empowerment in collaboration with the Kejar
external talent mapping and strengthens its Mimpi program.
market intelligence for key and critical positions. vi. Employee referral or recommendation.

CAREER DEVELOPMENT AND TALENT Throughout 2020, the talent management development
MANAGEMENT program has placed 69 employees in the Top Talent and
successor categories, as an effort to increase capabilities
TALENT MANAGEMENT IMPLEMENTATION while accelerating the readiness of these individuals
One of the keys to the employee retention strategy talents to fill key and crucial positions in the organization.
conducted by the Bank is the implementation of a
structured, integrated, and comprehensive talent DEVELOPMENT OF FUTURE LEADERS
management program in order to gain a competitive Responding to dynamic changes in the banking industry,
advantage, strategic goals and future business needs, as the Bank has implemented a Future Leader development
well as in managing and retaining the best talent. program. This integrated development program aims
to build competencies and leadership skills for future
The HR Directorate implements talent management leaders of the Bank, while ensuring the availability and
with determining, measuring, developing, monitoring readiness of the next generation of leaders. This program
and retaining talented employees in accordance with ensures leadership succession can be accomplished
the Bank’s short and long-term Business Plan. The effectively.
implementation of Talent Management is divided into
several parts, including: The Complete Banker
Apart from managing the Bank’s internal talent, the
1. Talent Mapping and Classification talent management program also focuses on developing
The Bank has determined the talent profile or talent future talent from young and potential talent outside the
DNA according to the needs of the organization Bank through the The Complete Banker (TCB) program.
in the short and long term, and this profile serves
as the Bank’s reference in talent mapping. The TCB is one of the Bank’s flagship programs with a duration
Talent mapping process is based on combination of of 24 months, and which aims to build leadership bench-
performance results, potential, and the application of strength and produce competent professional bankers
company values in daily activities. with a broad insight in both the National and Regional
ASEAN banking industry and other business industries.
2. Succession Planning TCB was launched in 2010 and has produced professional
The next process is to identify and nominate talent as bankers with the integrity and character that are in line
successors as well as determine talent readiness level with the Bank’s Core Values, to contribute to the Bank’s
to fill critical positions. goals and strategies achievement.
3. Talent Development Responding to dynamic changes in the business, this

With talent mapping and appointment of successors, program is designed to develop the knowledge and skills
the talent development programs can be carried out of program participants for the ASEAN and local banking
in a specific and structured manner to increase talent industry in general and other industries by providing
capability while accelerating the readiness of talent to experience, exposure, learning and on the job training
fill identified positions. in various functions/business units available in the Bank,
in CIMB Group throughout the ASEAN region, and in
The Bank continues to identify key critical positions as various companies in other industries such as fintech
well as a structured and integrated leadership succession or startups that have become partners of the Bank. In
planning with required competencies development. addition, this program is also expected to be able to hone

and train the program participants in strategic thinking, and community programs such as the “TCB Mengajar”
agility, innovation, problem-solving skills, teamwork program, which is an activity to share knowledge about
and leadership skills. With the variety of abilities and the culture and history of the local community, English,
expertise acquired, TCB graduates are expected to be financial literacy, and awareness to foster the importance
able to become Universal Bankers and Universal Leaders, of saving from an early age, conducted for elementary
ready to fill senior management positions in the next level students in several regions in Indonesia.
7-10 years.
The above-mentioned activities constitute an effort to
Up to December 2020, the Bank has recruited as many as shape the character of future leaders in accordance with
361 well-known university graduates both in Indonesia the Bank’s values and while also supporting sustainable
and abroad to join the TCB program. The graduation ratio economic development. In line with efforts to prepare
of participants during the program is 82%. Participants for the 4.0 Industrial Revolution, since 2019 the Bank
who successfully pass will fill important positions in the has made adjustments to the TCB program curriculum
Business Unit and Business Enabler functions. As of 1 by providing material and exposure to 3D (Digital, Data,
December 2020, TCB graduates have held the following Design)-related skills, such as design thinking and data
positions: analysis. Participants in the Digital TCB program will
be equipped with capabilities that are in line with the
digitalization and Bank transformation, including Digital
TCB 2010 - 2019 2020 2019
Awareness, Design Thinking, and Data Analytics.
Vice President 4 2
Assistant Vice President 30 25 In 2020’s pandemic conditions, the TCB program has
Senior Manager 43 37 adapted again through the implementation of virtual
Manager 65 68 classes without reducing the quality and experience of
Assistant Manager 9 4 participants in the program.
Still in the Education Period 57 52
Total 208 188
COMPETENCY DEVELOPMENT
Note: Not including TCBs that resigned or did not pass from the program.
COMPETENCY DEVELOPMENT PROGRAMS
CIMB Niaga believes that to have a competitive advantage,
In ensuring these young talents receive a structured employees must have the skills and competencies
and sustainable career development program, the Bank needed by the Bank in order to contribute to current
has integrated this program with career development and future business strategies and targets. To that end,
plans, performance management, succession plans and the Bank develops employee competencies through an
retention programs. integrated approach designed to focus on individual
needs, organization needs and the short- and long-term
Since 2017, TCB graduates have received continuous business objectives.
exposure through assignments in various key projects
across functions/units and across countries, including Specifically, the employee competency development
TCB community development activities such as TCB program focuses on the following three areas:
Townhall involving the entire TCB community and the
Bank’s senior leaders, sharing sessions from the Bank’s 1. Experience
leadership team to TCB, sharing sessions from senior TCB Employee competency development carried out
to junior TCB, and team building activities. In addition, through expansion of duties and responsibilities,
the TCB community also provide development focus for job rotation in a structured and integrated
participants through mentoring programs and informal talent development program, and by providing
activities in the arts and sports areas, including in social opportunities for internal movements according to
future career aspirations.

2. Exposure TRAINING AND EDUCATION

The Bank also develops employees by providing CIMB Niaga consistently focuses on developing employee
exposure through coaching, mentoring, sharing competencies through training and education programs,
sessions, networking platforms, assignments in both internally and externally. The Bank translates
various cross-border or cross-functional strategic current challenges and banking industry needs into
projects, and assignments in CIMB Niaga or CIMB materials for the training and education program. The
Group subsidiaries in various countries through program is also designed by taking into account the
the Global Employee Mobility (GEM) program. effectiveness, efficiency, impact, and learning objectives.
Throughout 2020, CIMB Niaga has assigned 36
employees exposure in subsidiaries or the Global This year, as evidence of the Bank’s efforts to improve the
Employee Mobility (GEM) program. In addition, the quality of employee training, the Bank has maintained
Bank also provides opportunities for employees to the ISO 9001: 2015 certification regarding Provision
participate in corporate social activities in support of of Education and Learning Services for the sixth time.
sustainable economic development. In addition, the Bank has also been registered and
recognized as a Job Training Institute for the Payment
3. Education and Management of Rupiah Currency System (Lembaga
The education and training are an integrated Pelatihan Kerja Sistem Pembayaran & Pengelolaan
program designed to develop individual, managerial Uang Rupiah) by Disnakertransgi DKI Jakarta and Bank
and leadership competencies as well as the specific Indonesia.
functional and technical competencies required to
support the primary business goals such as sales, In 2020, CIMB Niaga has organized training and
customer experience, credit, risk management and education programs for 13,676 employees (including
compliance. Every employee has the same opportunity education program participants). In these programs,
to advance and develop according to their potential, each employee has an average number of training
expertise and opportunities available according to days of up to 14 days per employee. CIMB Niaga has 3
the Bank’s needs through various learning channels models of education and training programs, namely the
with internal and external parties within country and academy, coaching-mentoring-sharing sessions, and
abroad to encourage the achievement of optimal online learning.
learning process objectives.
1. Academy
The Learning strategy has been adjusted during the A capacity and competency development program
COVID-19 pandemic by transforming in-class learning with an academic approach. This method integrates
into online learning and e-learning. employee recruitment, training, performance
monitoring and feedback processes. The Bank has
During 2020, learning programs have focused on academy programs for almost all business lines in
the Compulsory Certification Program, Development the banking industry, including: Service Academy,
Program, Acceleration Program, 3D Program (Digital, Sales Academy, Small & Medium Enterprise Academy,
Data, Design), Sales & Credit Program (including Syariah Academy, Leadership Academy, Business
restructuring programs) and Online Learning (Learning Banking Academy, Treasury Academy, Operations
on the Go). Academy, Risk Management Academy, Credit
Academy, and 3D (Data, Digital, Design) Academy.
2. Coaching, Mentoring and Sharing Sessions

The Coaching, Mentoring and Sharing sessions
represent a method of training and education that
has a major impact on an employee’s personal
development, while fostering self-confidence,
optimism and enthusiasm for work. Facilitated by
the Human Resources Directorate, this program can
be implemented formally or informally. Throughout
2020, employees and leaders have actively
participated in various coaching, mentoring and
sharing sessions in the program.
3. Online Learning
With technological advancement, the Bank focuses
TESTIMONY
on developing online learning systems as an
alternative to traditional learning methods. Since
In my opinion, The Complete Banker Program 2018, the Bank has conducted online training and
is designed to empower our fresh graduates education, or e-Learning, through “Learning on the
by providing them with a unique learning Go (LoG)” apps that can be installed on employee
experience that emphasizes both banking devices. Moreover, learning through LoG provides
and digital aspects. This provides TCBians a personalized learning experience according to
with the necessary set of skills required to individual employee needs. The online and digital
become change catalysts across all spectrums learning platforms are expected to provide fun and
of banking services. useful learning experiences to employees as well as
ease in accessing training and education programs
During my tenure, I was provided with ample anytime and anywhere.
opportunities to compete through our
annual digital innovation initiative, as well REALIZATION OF 2020 COMPETENCEY
as the chance to work with CIMB bankers DEVELOPMENT PROGRAMS
across Southeast Asia to learn about the best Discussion on the 2020 competency development
banking practices in different countries. program realization is presented in the Company Profile
section in this Annual Report.
COMPETENCY DEVELOPMENT COSTS

Discussion on the costs of employee competency
development is presented in the Company Profile section
in this Annual Report.
RISK AND COMPLIANCE CULTURE

CIMB Niaga has implemented various initiatives to
develop a culture of risk awareness and compliance as
an implementation of the Bank’s Core Values, especially
the value of integrity, including:
1. Conducting intensive communication through various
media regarding the importance of a culture of risk
awareness and compliance.
2. Building an Anti-Fraud Culture and Awareness in all
employees through training programs, campaigns,
e-mail blasts, internal bulletins, workshops and
sharing sessions.
3. Annual attestation on employee commitment to
implement the Employee Code of Ethics and Conduct.
4. Implementation of risk-based remuneration
provisions in accordance with OJK regulations.
5. Implementation of clear and firm sanctions for
cases related to integrity in the form of termination
of employment (PHK), reporting to the Regulator/
Financial Services Authority (OJK), and legal
proceedings.
Panji Pamungkas 6. Internal and external certification for all employees
TCB/Batch 18 through various learning media both in class and
Business Credit Manager
digitally.
Commercial Banking

7. Encourage the implementation of applicable policies in by 1,042 employees since 2019, the remaining 608
and procedures in a disciplined and consistent employees effectively left the Bank in 2020.
manner.
8. Cooperate with independent third parties in
Turnover 2019 2020
implementing the Whistleblowing Policy to ensure
Employees Joining 2,575 1,616
independence and transparency.
9. Implementing the Know Your Employee policy Employees Laving 2,664* 1,924*
through: including employees leaving who left through the MSS in 2019 (434 employees
*
in 2019 and 608 employees in 2020)

a. Consistently increasing the monitoring function of
direct superiors towards their subordinates.
b. Carrying out prudent principles in employee In order to ensure that the employee turnover rate
selection and recruitment processes by conducting remains in line with the Bank’s strategy and business
background checks on each prospective plan going forward, the Bank has implemented a
employee through validation of educational number of strategic initiatives, including evaluating the
history, employment history, financial condition remuneration system, evaluating job levels, establishing
history (SID Check), examination of potential a clear and transparent career path, and increasing
money laundering (AML Check) which is carried the attractiveness and image of the Bank through
out internally or by using third party services. communication and various programs in accordance
c. Early detection of suspicious transactions on with the employee value proposition.
employee accounts.
d. Conducting an annual update of employee data. EMPLOYEE WELFARE
e. Identifying positions that are classified as high
risk positions for subsequent regular rotation as PERFORMANCE ASSESSMENT
a measure to mitigate potential operational risks The Bank’s performance appraisals follow the Key
arising from the relationships between employees Performance Indicators (KPI) approach, drafted based on
and customers or third parties (vendors). the Bank, related unit and individual performance targets,
and are aligned with the Bank’s goals and strategies while
HR INFORMATION SYSTEM also considering risk and compliance aspects. In addition,
CIMB Niaga focuses on automation and system the performance appraisal also includes competency
digitization as well as improving processes in a assessment that is in line with the Vision, Mission and
sustainable and comprehensive manner to increase the Core Values of the Bank. Perfomance appraisal is carried
effectiveness, efficiency and quality of employee services. out through several stages to ensure that it is given fairly
The implementation of an integrated HR information and objectively, as follows:
technology system based on cloud computing was the 1. Self-assessment by the employee
new breakthrough which began in 2019. The cloud-based 2. Preliminary review by supervisors
system includes operational/transactional modules as 3. Performance validation with related units
well as strategic modules such as Learning Development, 4. Face-to-face performance discussions between
Workforce Management and Planning, Benefits superiors and employees (1-on-1 discussion)
Management, Succession Planning, and other modules.
As part of efforts to enhance the risk and compliance
EMPLOYEE TURNOVER LEVEL culture, CIMB Niaga implements a Demerit Framework
In 2020, the voluntary employee turnover rate was 6.6%, for audit and compliance areas. If an employee is unable
which is one of the lowest in the banking industry, and to meet the indicators set out in the Demerit Framework,
lower than previous years. Continuing with the Mutual then it becomes the reducing factor of performance
Separation Scheme (MSS) that has been participated score. The application of the Demerit Framework aims to

ensure that each employee observes risk and compliance RETENTION AND PROMOTION
aspects in their respective work units so that the Bank In 2020, the Bank continues to develop employee
is protected from all types of risks and sanctions from retention strategies based on job, performance and
regulators. market positioning so that it can provide high-performing
employees effectively. In addition, the Bank periodically
REMUNERATION reviews benefit programs including the lifestyle benefit
Remuneration is an important aspect in attracting, program, a program that focuses on an individual’s
motivating and retaining the best employees. The Bank is unique needs, while still considering several factors such
committed to implementing a competitive remuneration as market conditions, future conditions and the Bank’s
policy according to performance and supporting employee financial performance and long-term strategy.
welfare as the reward for an employee’s contribution.
The Bank emphasizes a dynamic, responsive, risk-based, The Bank also continues to award employees in business
productive and competitive approach while also keeping units and in support functions who excel in their
a close watch on the Bank’s financial performance and respective fields through the Outstanding Performance
capability in its renumeration implementation. Recognition Award (OPeRA) program.
The Bank reviews the remuneration and employee Employee retention strategies are also carried out
welfare system periodically and continuously, by taking through self-development both in terms of technical and
into account the following aspects: leadership competencies, expanding responsibilities,
1. The Bank’s performance and financial condition assignments across units, and key project participation
2. Employee competency and performance as well as placement based positions, performance and
(meritocracy) employee competency. In order to support employee
3. Remuneration practices in the industry (market promotion and career paths, the Bank has prepared an
competitiveness) integrated development program in accordance with the
4. Suitability and merit in accordance with position/job talent management framework.
5. Internal equality
6. Risk level of the position The increase of 3D jobs (Digital, Data, Design) that are
7. The Bank’s long-term strategy supported by development to those adept with 3D
capabilities can be an attraction factor for employees
The Bank provides specific remuneration, both short- who have aspirations for self-development. In addition,
term as well as long-term, for high performing employees. the Bank gives appreciation to outstanding employees
Short-term remuneration is carried out annually by providing scholarships for these employees and for
during annual remuneration reviews, while long-term the employees’ children to increase the level of employee
remuneration is carried out through an effective retention engagement with the organization.
program based on position, performance, employee
competence and competitiveness in the market. The PENSION PREPARATION PROGRAM
remuneration strategy review includes reviewing policies The Bank provides a retirement preparation program
and procedures for implementing benefit programs as for employees and their spouses, with aims to provide
part of the remuneration strategy by considering the risk information on their rights, obligations and procedures for
profile. obtaining retirement benefits as well as post-retirement
entrepreneurial programs. In addition, for employees
participating in the Mutual Separation Scheme (MSS), the
Bank also conducts a preparatory program for personal
financial planning, entrepreneurship and further career
development. During 2020, 189 employees have participated
in the pension preparation program.

EMPLOYEE SATISFACTION AND ENGAGEMENT

In order to increase internal customer satisfaction, the
TESTIMONY
Bank regularly conducts Internal Customer Satisfaction
Surveys (ICSS) organized by the Customer Experience
team. ICSS aims to assess working cooperation levels I joined CIMB Niaga through the TCB
between units within CIMB Niaga as well as response program since I wanted to broaden my work
speed, sense of responsibility, employee knowledge experience and not only be limited to the
level and the escalation process in certain situations, as knowledge from the specified major that I
continuous improvement efforts to improve the internal had after graduating from university.
customer experience. TCB is a well-rounded management program
that will challenge you to step out of your
To increase employee engagement, the Bank undertakes comfort zone.
the following initiatives:
The TCB experience has helped me to be
1. Anti Mati Gaya (AMG) confident in the work I do and become the
The Bank runs the Anti Mati Gaya (AMG) program to better version of myself, especially with the
increase employee motivation and engagement, as motivation and support from my colleagues,
one of the responses to ever-changing conditions and peers and mentors. I believe that CIMB Niaga
situations during the COVID-19 pandemic. will continuously strive to be a strong and well-
rounded bank for its existing and potential
The Bank has carried out various activities and customers in order to prioritize its customer
programs aimed at increasing engagement and experience, especially in a fast-paced industry
collaboration between employees who have with ever-changing technology and demands.
experienced the new way of working (split operations,
WFH or WFO), through the “Anti Mati Gaya – aktif di
rumah dan di kantor bersama CIMB Niaga” (active at
home and at the office with CIMB Niaga) program. In
its implementation, the program has 5 main pillars:
a. Mental Health
The Bank shows concern for employee mental
health through various initiatives such as sharing
sessions with professional psychologists with
different themes every month. In addition, CIMB
Niaga also provides a psychological consultation
forum called AMG Ruang Cerita for all employees
via e-mail or video conference on weekdays.
b. Physical Health
Through this pillar, the Bank provides education
and information on the importance of maintaining
physical health, including thematic and regular
virtual sports competitions.
Jihan Jasmine Lubay

TCB/Batch 17
e-Channel Product Specialist
Transaction Banking

c. Hobbies 5 (five) key aspects in the survey are as follows:

Facilitating employee’s hobby activities through 1. Organizational readiness in the face of the
sharing sessions and tutorials on the topic of COVID-19 pandemic
cooking, book reviews, as well as entertainment 2. Employee’s psychological condition and feeling
activities including establishing a hobby 3. Employee’s activities during the pandemic
community among employees such as cycling, 4. Employee’s view on working from home/office
running, walking, and other sports activities. 5. Flexi Working Arrangement implementation plan
d. Sharing Sessions The results showed that employees have a positive

The sharing of knowledge and skills, which aims view of CIMB Niaga’s efforts in adapting to the
to provide development for employees, such as New Normal through proper policies and regular
in financial management, emotional intelligence, communication. 88% of the employees are optimistic
and digital awareness. about facing the current COVID-19 pandemic,
including in fulfilling their work responsibilities.
e. Competitions & Other Activities
Nurturing understanding between employees INDUSTRIAL RELATIONS
through fun and casual virtual competitions,
such as: Live Quizes, Regular Quizes, video COMMITMENT TO INCREASING PRODUCTIVITY
competitions, and photo competitions through A good and harmonious working relationship between
social media. Management, Employees and Labor Unions is a key
element toward the Bank’s successful progress. Therefore,
2. OPeRA Innovation the Bank is committed to building and maintaining
As part of OPeRa and in line with the Bank’s digital excellent and harmonious Industrial Relations between
strategy and spirit of transformation, CIMB Niaga Employees, the Bank and the Government (tripartite) to
conducted an innovation competition through the be healthy and constructive.
OPeRA Innovation program. The program aims
to foster a culture of innovation and stimulate Increasing the productivity and welfare of employees is
employees to provide ideas to improve business the ultimate goal of Industrial Relations at CIMB Niaga. To
processes. that end, the Bank places the Labor Unions as a partner in
building and maintaining harmonious industrial relations
As part of the implementation, the Bank provides in the work environment through regular and continuous
advice from Subject Matter Experts to help employees communication.
explore their innovative ideas as well as prepare the
presentation of these ideas. In this period, a total In 2020, management and employees represented by
of 292 innovation proposals were submitted by the Labor Unions collaborated in the Collective Labor
individual employees or groups. These proposals Agreement (PKB) socialization for the 2019-2021 period.
were then selected for management presentation as This proves that communication and cooperation
the final session of OPeRA Innovation program. between Management and Labor Unions can produce
positive outcomes for the progress of the Bank in the
3. Employee Survey During Pandemic future.
During the pandemic, the Bank continues to build
effective communication with employees, including The Bank also has a Health, Security and Safety Policy
through employee surveys conducted in April and which is outlined in the Social Responsibility (CSR) section
September 2020. These surveys aimed to understand of this Annual Report.
employee views regarding efforts by CIMB Niaga to
adapt to the conditions of the COVID-19 pandemic.

ACTIVITIES IN INDUSTRIAL RELATIONS HR INFO

The Bank and the Labor Unions conduct regular formal A communication platform for all employees via e-mail
and informal meetings to build and maintain effective consisting of employment related matters, such as HR
and sustainable communication. Throughout 2020, products/systems, regulations, campaigns related to
the Bank and Labor Unions held 5 formal meetings. learning activities, the Bank’s Core Values, and the Bank’s
Through these meetings it is expected that harmonious Corporate Culture.
industrial relations can be created towards a healthy and
constructive work environment. GALERI NEWS
A communication platform via e-mail distributed to all
During the COVID-19 pandemic, the Bank and the employees consisting of the Bank’s internal and external
Worker Unions are both committed to creating a safe activities, CSR activities, awards from external parties,
and comfortable work environment, including efforts to news/information on activities from the Bank’s branch
reduce the spread of COVID-19. offices, information from business or supporting units
about programs or commercial product promos of the
A the end of 2020, there were 4 Labor Unions (SP) at CIMB Bank, information related to developments in the Bank’s
Niaga, comprising Serikat Pekerja Ikatan Komunitas Niaga Information Technology, and other information.
(IKN), Serikat Pekerja Ikatan Karyawan CIMB Niaga (IKCN),
Serikat Kerja Karyawan Bank CIMB Niaga (SKKBCN), and OCTOBUDDY
Serikat Pekerja Bank CIMB Niaga Indonesia (SPBCNI). The A communication platform via Whatsapp messages sent
four Labor Unions have members at the CIMB Niaga head to all employees consisting of HR related information and
office as well as branch offices throughout Indonesia. other information from business units regarding special
programs or Bank commercial product promotions for
INTERNAL COMMUNICATION & EMPLOYEE Bank employees.
INFORMAL ACTIVITIES
The Bank realizes that internal communication plays an DESKTOP/LAPTOP WALLPAPER
important and strategic role in supporting the success of A communication platform on employee desktop/ laptop
the Bank’s programs, activities, and management policies, wallpaper, consisting of HR related information and
along with its function in socializing risk awareness and other information regarding special promotions of Bank
compliance culture, the Bank’s core values and culture, commercial products for Bank employees.
as well as updates on internal and external regulations.
Furthermore, in order to strengthen relations between
CIMB Niaga consistently holds the principles of openness, employees, CIMB Niaga facilitates informal activities
transparency, responsibility, actuality, accuracy, in sports, the arts, social affairs and spirituality.
simplicity, and ease to understand in carrying out These informal activities aim to expedite internal
internal communication hence, employees can receive communication informally. Through these activities,
valid information effectively and efficiently. Several types employees can channel their hobbies and creativity
of media serve as the Bank’s internal communication outside of work, and create a better work-life balance
channels, including: which is expected to eventually increase employee
morale and work productivity in supporting the Bank to
achieve its best performance.

HR PLANS, STRATEGY, AND POLICIES IN 2021 In terms of talent management, the Bank will continue
The Bank believes that HR is the key enabling factor to focus on building internal talent and attracting talent
in the Bank’s transformation strategy. The Bank sets from the market (talent magnet) through various strategic
HR focus and strategic plans for 2021 to overcome programs, including plans to conduct virtual job fairs, and
challenging and complex changes in the future. The focus Hackathon as one of the activities in the virtual job fair. In
and strategic plan is set with consideration of innovation the effort to build internal talent, the Bank will also carry
disruption, the impact of the COVID-19 pandemic, and out pilot implementation of new learning methods using
other developments in the banking industry and macro Virtual Reality (VR) technology and continuing to improve
economic factor. 3D (Digital, Data & Design) capabilities for employees.
The strategic theme of HR in 2021 is to maximize Furthermore, to strengthen a digital culture, the Bank
the value of HR to support business growth. To that will organize a leadership program that focuses on
end, CIMB Niaga through the Human Resources (HR) digital innovation. The Bank will continue to implement
Directorate has designed a strategic plan that focuses the Digital Leadership program for Middle and Senior
on implementing new ways of working, including flexible Management aimed at increasing a leader’s capability to
work arrangements (Forward Way of Working), digitizing lead digital transformation by utilizing technology to align
HR information systems, and continued development of business processes and goals and build an ecosystem
Robotics Process Automation (RPA) to support process that encourages innovation.
efficiency. In addition, the Bank will also continue to
strengthen analytic functions through Big Data and The Bank will also continue to review and improve overall
Machine Learning as a basis for planning and decision organization effectiveness and efficiency in order to build
making, including analysis related to the recruitment a more sustainable organization in the future.
process, talent management, and employee competency
development.

Supporting
Ikhtisar
Business Corporate
Laporan
Governance Corporate
ProfilSocial Analisis
OtherdanCorporate
Pembahasan Consolidated
Manajemen
Review
Utama Manajemen
Report Responsibility
Perusahaan Manajemen
Data Financial
Risiko
Report
OPERATIONS AND
INFORMATION TECHNOLOGY
Throughout 2020, CIMB Niaga’s Operations & Information VISION AND MISSION OF THE OPERATIONS &
Technology Directorate focused on implementing INFORMATION TECHNOLOGY DIRECTORATE
various strategies and policies to anticipate the impact
of the COVID-19 pandemic on the Bank’s operational VISION
processes. CIMB Niaga continues to improve existing To build and transform the Operations and Information
business processes by maximizing the use of information Technology (IT) Directorate to support businesses, and to
technology and developing digital services, to keep pace use quality principles in providing services that are cost
with evolving customer needs and developments in the effective, efficient, reliable, timely and secure.
banking industry.
MISSION
To this end, CIMB Niaga implemented the right strategy 1. Carry out digital transformation initiatives and
in the governance aspects, and carried out continuous solutions.
innovation and improvement of operational processes 2. Centralize processes to support business model
and information technology. CIMB Niaga also designed transformation.
and created the Bank’s core applications which were 3. Increase Information Technology resilience and
carried out in-house. This ensures that CIMB Niaga has security.
the advantage of innovation, speed, and uniqueness over 4. Maintain sustainable cost management.
other banks. 5. Continue to improve people skills.
6. Increase awareness of business controls and risks.

OPERATIONS WORK PROGRAMS IN OPERATIONS

In Operations, CIMB Niaga always ensures that the Work programs and achievements of Operations in 2020
implementation of customer banking transactions is include:
carried out in accordance with the applicable Service Level 1. Optimizing existing systems as well as creating new
Agreement that has been approved by stakeholders, systems to improve work quality by reducing human
supervises the end-of-day reconciliation process, and errors and increasing customer satisfaction with
updates policies and procedures in the context of risk faster processes, through:
management and mitigation. CIMB Niaga also continues a. Implementation of Robotic Process Automation.
to improve its operational processes to become more b. Optimizing the use of Workflow in transaction
effective and efficient, with a more robust business processing.
model. c. Implementing Digital Imaging Solutions.
d. Centralization of processes to increase efficiency
STRATEGY AND POLICY and standardization.
CIMB Niaga implements strategies, policies, and business 2. Improve the quality of Risk & Control in the Operations
support activities towards more efficient and effective unit:
work management, in addition to facilitating the creation a. Constantly review and update the Standard
and innovation of new products, as well as better business Operational Procedures (SOP) and other policy
operational processes and services. During 2020, CIMB documents covering work processes in the
Niaga continued to make various improvements to Operations work unit.
the Bank’s operational processes in order to deliver an b. Implementing Quality Assurance functions
enhanced Customer Experience. In addition, CIMB Niaga in operational activities regularly with on-site
continued to prioritize operational risk management by methods to ensure risk mitigation is relevant to
promoting a culture of risk awareness in carrying out business developments.
tasks and by processing transactions correctly the first c. Exercising routines and disciplined control of
time (Do it Right at The First Time). Operational Risk Management (ORM) including
Risk Control Self-Assessment (RCSA), Control
Furthermore, CIMB Niaga continued to prepare and Issue Management (CIM), Key Risk Indicators (KRI)
develop reliable HR competencies in banking operations and Loss Event Data (LED).
in order to face the challenge of today’s digital era. HR d. Carrying out socialization and knowledge sharing
development is focused on providing comprehension, such as the Business Learning Session (BLS) and
knowledge, and insight into operational work units the Risk Control Unit (RCU) Forum on a regular
through regular Business Learning Sessions, experiencing basis.
sharing forums, active discussions, knowledge sharing e. Optimizing the function of Business Continuity
among employees, and the It’s a Tuesday Thing program. Management as one of the controls for business
continuity when conditions are out of the ordinary,
CIMB Niaga also implemented an operational strategy especially in the face of the COVID-19 pandemic
that includes controlling operational costs to support the that has been with us since March 2020.
Bank’s business performance, including: 3. Developing Human Resources competencies
1. Continuing with the Smart Spending program that a. Carrying out training that supports employee
was implemented in the previous year. This continues competencies including Leadership, 3D Training,
to provide an increase in the cost control culture in all Operational Programs and others.
operational work units. b. Implementing the Operations Development
2. Reviewing the potential for overall cost efficiency Program (ODP) and the IT Development Program
by continuing to implement automation in manual (ITDP).
processes using Robotic Process Automation c. Implementing the academy portal as an integrated
(RPA) technology, as well as carrying out Process education system for personnel in the Operations
Simplification to increase process efficiency. and Information Technology work unit.
d. Adding Business Learning Session (BLS) programs
that are held virtually to ease participation of the
Operational Directorate & IT personnel.

AWARDS short- and long-term horizons through improving the

In the unfavorable global and domestic economic reliability, security and internal capability of IT.
conditions, CIMB Niaga was awarded the Straight
Through Processing Award from the following partners In addition to providing best services, CIMB Niaga also
banks: utilizes IT in order to minimize the business operational
• JP Morgan – The U.S. Dollar Clearing Elite Quality risks faced by the Bank and ensure the effective
Recognition award for Outstanding Achievement of implementation of CIMB Niaga’s risk management
Best-in-class MT103 STP Rate 99.35%. system. As the leader in digital banking, CIMB Niaga has
• BNY Mellon – Recognition of Outstanding Payment the initiative to provide speed, accuracy, convenience,
Formatting and Straight Through Rate. and security for customers in making transactions.
• Citi – US Dollar Payments Straight Through Processing Therefore, through the Bank’s strategic focus and policies
Excellence Award for Commercial Payment STP Rate in the IT sector, effective and well-directed technology
99% and Treasury Payment STP Rate 98%. development tailored to customer needs is able to
provide added value by accelerating the Bank’s business
PLANS, STRATEGY, & POLICIES FOR 2021 growth and maintain CIMB Niaga’s position as the leader
CIMB Niaga has prepared a number of strategic policies in digital banking in Indonesia.
and initiatives to anticipate business challenges in 2021
and provide operational support for the Bank, as follows: STRATEGY AND POLICY
1. Improving the quality of operational processes by CIMB Niaga engages in efficient, timely and cost-effective
making improvements to operational processes that IT development in order to create high-quality, reliable
cause complexity, take a long time, and include many and secure information technology-based banking
manual processes, through initiatives including: products and services, as well as to contribute as a
a. Continue the implementation of the Robotic driving force for business development at the Bank.
Process Automation. With the appropriate optimization and utilization of
b. Increase the use of digital workflows in operational IT, CIMB Niaga is able to conduct management of the
processes. Bank strategically, to develop and provide efficient and
c. Explore the use of Quick Response (QR) technology effective business processes that are aligned with the
in credit document storage management to Bank’s objectives, and to ensure the implementation of a
simplify the credit document inventory process. robust and comprehensive IT risk management process.
d. Continue to centralize processes in order to
increase employee productivity, speed and During 2020, CIMB Niaga implemented the following IT
service standardization. development strategies and policies:
2. Continuing the discipline of cost control in operational 1. Develop and make widespread use of digital banking
work units through continuous Smart Spending services with an emphasis on the Application
implementation. Program Interface (API) and implementation of the
3. Improve operational risk management and control, by cloud ecosystem.
maintaining a balance between services to customers 2. Strengthening IT security capabilities in securing
and compliance with controls based on sound risk confidential data belonging to the Bank by
management implementation. Employee knowledge implementing the Security Incident Management
and skills are continuously being improved by Platform, Endpoint Detection & Response System,
conducting regular Business Learning Sessions (BLS). and Digital Signature for internal processes.
The concept of Know Your Employee is applied to 3. Continue the implementation of automation using
increasing controls to avoid potential internal fraud, robotics in the Information Technology work unit
which is supported by the use of technology to assist and Business Units to support the needs of the latest
reconciliation and analysis processes, in order to business developments.
mitigate operational risk. 4. Implementing the Digital Workflow, a software system
that will help the work process flow of each unit in
INFORMATION TECHNOLOGY Operations to be more systematic and properly
In addition to supporting the Bank’s business processes, monitored.
optimization of IT is also expected to enable accelerated
business growth while accommodating changes for the

5. Increasing security on all IT systems and infrastructure Overcoming the challenge of the banking industry moving
to avoid Cyber Security risks. towards digital banking, CIMB Niaga has prepared several
6. Continue to Up-skill & Re-skill training programs strategic steps, including updating the infrastructure
through the IT Academy to improve the capabilities and implementing microservices and cloud technology
and knowledge of human resources in the architectures. To that end, the Bank has planned to
Technology and Information Systems unit, increase implement innovations based on information technology
understanding of business needs, raise awareness and big data, as well as continue to strengthen the IT
of governance and compliance and be proactive Security infrastructure in securing confidential data.
in providing solutions and innovations to business
units. PRODUCT SUPPORT DEVELOPMENT
In support of the Bank’s competitiveness in fulfilling
INFORMATION TECHNOLOGY WORK PROGRAMS customer needs for reliable banking services, CIMB Niaga
The Bank conducted the following work programs in in 2020 engaged in the following initiatives:
information technology: 1. The rejuvenation of the CIMB Clicks internet banking
1. Continuing with the agile work culture to accelerate system to become OCTO Clicks to suit updated
the system and product development cycle. technology and business model developments.
2. The rejuvenation of CIMB Clicks internet banking 2. Additional features on the OCTO Mobile platform.
system to become OCTO Clicks to suit updated 3. Robotic Process Automation for processing the Credit
technology and business model developments. Moratorium program.
3. Continuing the Digital Enterprise Workflow Initiatives 4. Supporting business development and growth by
(DEWI) for the automation of work processes. upgrading the Core Banking servers so that they
4. Strengthening IT security capabilities and capacities have optimal capabilities in line with the dynamics of
to be more pro-active. business needs.
5. Continue to comply with IT application development 5. Continuously increasing the capacity of storage media
in accordance with the direction of regulators and in in order to support a faster input-output process in
meeting the elements of risk. managing large amounts of data information.
6. Being directly involved in the Bank’s Transformation
Program to support business development and INFORMATION TECHNOLOGY GOVERNANCE
growth in achieving targets in Forward23. IT Governance refers to the management of an IT
7. Continue to improve IT security to anticipate organization in line with the organization’s business
the threats from virus, malware and Cyber Risk strategy and objectives. The implementation of CIMB
challenges. Niaga’s IT Governance is a guideline that leads to
compliance with prevailing rules and regulations, while
DIGITAL BANKING still taking into account the need to achieve the Bank’s
In developing its digital banking capability, CIMB Niaga business plan. The implementation of IT Governance
focuses on optimizing the service aspects of branchless at CIMB Niaga continues to be improved and evaluated
banking, on improving the customer experience and regularly in terms of Policy and Procedure, by adopting
digital sales enablement, as well as on enhancing the the relevant regulations from the Financial Services
capabilities of the mobile banking system. In addition, Authority, Bank Indonesia and the Government, as well
the Bank has also implemented digital banking in terms as International Best Practices to mitigate new risks and
of financial and non-financial transaction services, and threats based on technological developments.
account opening based on mobile applications.

CIMB Niaga’s Information Technology Sub-Directorate acts as a business enabler with an IT work scope that covers
all elements of the Bank’s business in providing an effective, efficient and safe operational system. In order that IT
management can ensure that IT functions are always in the right direction and comply with applicable rules and
regulations, an IT Governance framework is needed as follows:
Bank Principal Policy

Level 1
Bank Principal
Policy • IT Strategy and Organization • IT Continuity
• IT System Development • End User Computing
• IT Operations • Digital Banking
Level 2 • IT Communication Network • IT Managed Service Provider
• Information Security • IT Process, Risk &Compliance
IT Special
Policy
• Standard Operating Procedure (SOP)

• Standard
Level 3
SOP | Standard
• Working Instruction
• Guideline
Level 4
Working Instruction
| ACM | Guideline
In 2020, CIMB Niaga is committed to implementing and respond with the appropriate action. This is also
IT Governance and other supervisory systems by part of the implementation of the Governance Structure,
strengthening IT Security’s capabilities in securing especially in the IT Sub-Directorate.
confidential data belonging to the Bank by implementing
the Security Incident Management Platform, Endpoint HUMAN RESOURCES IN INFORMATION
Detection & Response System and Digital Signatures TECHNOLOGY
for internal processes. The Bank also implements CIMB Niaga continues to improve the competencies of
Digital Workflow, a software system that will help the Human Resources (HR) in the IT field so that they can play
work process flow of each Operational unit to be more a role in the successful planning and management of IT at
systematic and well monitored. Further, CIMB Niaga CIMB Niaga, including providing innovative ideas that are
continues to develop and strengthen its Information in line with digital developments in the banking industry.
Technology infrastructure and security resilience as
well as modernize hardware and software to support The Bank performs assessment of existing IT program
business units in improving the Customer Experience. developers (programmers), mapping their capabilities
with our needs, and performing reskilling and upskilling of
In a regular basis, CIMB Niaga’s holds intensive meetings these developers to ensure the quality and capacity of HR
of the IT Steering Committee (ITSC), one of the Bank’s in the IT sector. CIMB Niaga also organizes IT Development
Executive Committees. The function of the ITSC is to Programs (ITDP) training to recruit young talent from
ensure that all key risk elements have been identified, university graduates and apply agile work practices and use
managed and reported to the Board of Directors for more reliable Technology Tools for Project Management
directions. Through the ITSC, the Board of Directors & Collaboration. In addition, CIMB Niaga also improves
can ensure that all activities are carried out proactively, the capabilities of each HR with training related to cloud
especially in dealing with digital/cyber-attacks. If there is technology and microservices architecture.
an intimidation of digital attacks, the Board of Directors
will immediately get the latest information from the IT
Security Office and Security Incident Response Team

CIMB Niaga also continues the previous education and

training programs, with the obligation to participate in all
TESTIMONY
basic training modules for the Fundamental IT Program
(FIT) consisting of Induction (Anti Money Laundering,
Red Hat is an American multinational software Code of Conduct, Anti-Fraud, IT Security Awareness and
company that provides open source software Operational Risk), IT PDLC (Project Development Life
products to companies. Red Hat has been Cycle), Basic IT (System Security, Networking, Database,
working with CIMB Niaga since 2013. Then, Data Center Operations, Architecture), and Problem
starting in 2016, Red Hat had a strategic bond Solving & Service Excellence.
when CIMB Niaga adopted Red Hat JBoss EAP
for the Go Mobile application to date. AWARDS
In 2020, CIMB Niaga’s achievements in Information
In 2019, Red Hat was entrusted with helping Technology were recognized in a number of awards,
the CIMB Niaga digital transformation team to including:
develop the next generation of CIMB Niaga’s 1. Digital Transformation and Cloud-Native
OCTO Clicks Internet banking products by Development Red Hat APAC Innovation Awards 2020.
involving Red Hat Innovation Labs. Working The award is given for the success of CIMB Niaga
with the CIMB Niaga team was fun and in making innovations utilizing DevOps solutions,
cooperative. From a Red Hat perspective, methodologies and agility.
we look forward to growing our strategic 2. Best Data Technology for Adoption AI 2020 Award
engagement with CIMB Niaga to support its from Big Data Association - Data Gov AI Summit. The
business aspirations for the years to come. award is given for the successful implementation and
utilization of Artificial Intelligence (AI) technology.
3. The Liquidity Risk Technology Implementation of
The Year 2020 - Asian Banker. The award is given
for having succeeded in building and implementing
technology infrastructure in the effective, optimum
and comprehensive management of liquidity risk.
PLANS, STRATEGY AND POLICIES FOR 2021

CIMB Niaga is committed to remaining at the forefront in
the development of banking IT, and especially in digital
banking. In 2021, CIMB Niaga will implement suitable
plans, strategy and policies to promote the creation of a
stable financial system environment enabling sustainable
financial profitability and sound business growth. These
IT missions will emphasize the three key success factors
of Modernization, Automation, and Innovation. These
three factors are supported by internal IT excellence
in encouraging stakeholder engagement, big data and
advanced analysis, organizational capabilities, human
resources and research excellence.
Sandra Arps
Head of Innovation, Open Innovation Labs APAC
Red Hat

Also in 2021, CIMB Niaga will focus on IT development that emphasizes the following aspects:
1. Continuous improvement of Digital Business applications
2. Continue with the digitization of internal processes
3. Building a strong and secure IT infrastructure
4. Encouraging digital adoption by customers
5. Improving customer experience in transactions in the digital era
2019 2020 2021
• Development project to improve • Exploring the technological • Continuous improvement of Digital

the Data Center infrastructure and landscape at CIMB Niaga related Business applications
make it more stable. to applications, infrastructure, • Continue digitizing internal
• Develop Big Data technology to IT service management and the processes
obtain analysis and information organization, as the basis for • Build a strong and secure IT
quickly and accurately. IT capability mapping with the infrastructure
• Develop new Customer operational model/framework • Encourage digital adoption to
Relationship Management to used by leading companies. customers
provide better banking experiences • Implementing the API-First strategy • Improve customer experience in
for customers. to gain a good approach to using a transacting in the digital world
• Renew the CIMB Clicks Internet consistent, clear and adaptable to
system to match new technology. change API.
• Continue Digital Enterprise • Continuing the microservices
Workflow Initiatives to be architecture journey and adopting
automated cloud technology.
• Strengthen IT Security capabilities • Optimizing the automation
so they become more proactive. processes with Robotic Process
Automation (RPA) technology, and
also testing automation.
• Conducting technology-based
research to explore master data
management technologies, artificial
intelligence/machine learning,
cloud usage expansion, cloud
ecosystem & security, Intelligent
Security Operational Center.
• Improving the IT security system
against cyber threats.
• and rejuvenating obsolete systems.



Good Corporate
Governance
Report

Basis and Guidelines in Good 461 Anti Money Laundering and 593
Corporate Governance Counter-Terrorist Financing (AML &
Improvement of 461 CFT)
GCG Quality at CIMB Niaga Public Accountant 599
Achievement in GCG in 2020 463 Risk Management 601
GCG Implementation Stages 463 Internal Control System 605
GCG Milestones of 464 Important Cases 608
CIMB Niaga in 1955-2020 Administrative Sanction 611
GCG Objectives 465 from Relevant Authorities
Structure and Mechanism 465 Anti-Corruption Policy 611
of Bank Governance
Access to Bank Information and Data 612
GCG Implementation 468
Assessment Goods and Services 618
Procurement Policy
General Meeting of Shareholders 472
Employees Code of Ethics & Conduct 620
Board of Commissioners 487
Corporate Culture 623
Independent Commissioners 499
Funding for Social 624
Board of Directors 501 and Political Activities
Performance Assessment on The 511 Transparency of The Bank’s Financial 625
Board of Commissioners and Board and Non-Financial Conditions
of Directors
Shares and Bonds Buyback 626
Policy on The Diversity of The Board 515 of CIMB Niaga
of Commissioners and Board of
Directors Dividend Policy 626
Remuneration Policy 518 Conflict Management Policy 626
(Including Insider Trading)
Board of Commissioners 526
and Board of Directors Meetings Protection of Creditor’s Rights 627
Ultimate and Controlling Shareholder 537 Provision of Funds to Related Parties 627
Affiliation Among Members of The 537 Customer Protection Policy 628
Board of Commissioners, Board Internal Fraud 630
of Directors and The Controlling Whistleblowing System 631
Shareholder Asean Corporate Governance 635
Committees Under 539 Scorecards Implementation
The Board of Commissioners Implementation of Corporate 644
Audit Committee 539 Governance Aspects and Principles
Nomination and 547 in a Public Company Pursuant to OJK
Remuneration Committee Regulation
Risk Oversight Committee 553 Integrated Governance Report 649
Integrated Governance Committee 560 Sharia Business Unit 659
Committees Under 566 Governance Report
The Board of Directors Transparency on 668
Corporate Secretary 574 Bad Corporate Governance Practices
Internal Audit (IA) 577 Declaration of Implementation of 668
Good Corporate Governance
Compliance Unit 588 Principles

Good Corporate Governance (GCG) is a series of At CIMB Niaga, the implementation of GCG is not merely
mechanism or system that guides and controls the Bank the fulfillment of obligation, but represents a commitment
to operate in line with the expectation of stakeholders, towards transparency and accountability in managing
pursuant to prevailing laws and regulations, and adhere the Bank to the public. The development of GCG that is in
to the norms of business ethics that are universally line with best practices and its consistent implementation
recognized and the Bank’s Core Values that are espoused induces the Bank to create values through its business
by every personnel of CIMB Niaga. Such mechanism or attitude and action, provide services that are highly valued,
system influences the establishment and achievement innovative, friendly, efficient and effective, while ensuring
of the Bank’s objective, the monitoring and assessment a control system that can assure accountability that is at
of business risks, maximizes the effort on performance par with the associated business risks.
improvement and the development of the corporate
culture of the Bank.

Furthermore, the development of GCG in a consistent CIMB Niaga is committed to implementing GCG
manner can also create healthy competition and according to best practices that will induce the Bank
maintain the business continuity of the Bank. The to create maximum shareholder value. In addition, the
implementation of GCG becomes the main foundation implementation of GCG principles at the Bank will also
for the Bank’s business activities in order to maximize be a reference in responsible decision making, avoid
the benefit and added value for stakeholders and ensure conflict of interest, optimize performance and increasing
long term sustainability. The perfect implementation of the accountability of the Bank. CIMB Niaga constantly
GCG will assure sustainability of the business that will endeavors to be a bank that applies the best governance
remain solid over the long term, providing adequate to ensure that every program and plan of the Bank will be
protection and fair treatment to all shareholders and realized as expected.
other stakeholders.
BASIS AND GUIDELINES IN GOOD CORPORATE

GOVERNANCE
In the implementation of GCG, CIMB Niaga refers to 3. The Indonesian Corporate Governance Roadmap as
certain prevailing regulations laws and regulations that issued in the OJK press release on 4 February 2014;
serve as the basis for the Bank’s corporate governance. 4. The ASEAN Corporate Governance (CG) Scorecard
They are: issued by the ASEAN Capital Market Forum (ACMF);
1. Republic of Indonesia Laws, particularly those related 5. The General Guidelines on GCG in Indonesia as
to the Capital Market, Limited Liability Company, and issued by the National Committee of Governance
Banking; Policy (KNKG);
2. Regulations and Circular Letters issued by OJK, 6. The Articles of Association and the Resolutions of the
particularly those related to Corporate Governance, General Meeting of Shareholders (GMS) of the Bank;
the Annual Report, Risk Management, and various and
OJK Regulations and Circular Letters related to 7. The Bank’s Corporate Governance Policy.
implementation of corporate governance;
IMPROVEMENT OF
GCG QUALITY AT CIMB NIAGA
CIMB Niaga will continue to make necessary best practices. In the Bank’s continuous efforts to
improvements in the implementation of corporate enhance the quality of its GCG implementation, in 2020
governance principles. By truly understanding the values CIMB Niaga carried out several programs and activities
that are inherent in each of those principles, the Bank will that could increase added value for the Bank. CIMB Niaga
have ensured that the implementation of good corporate has incrementally taken various initiatives to enhance
governance will ultimately lead to added value for all the quality of its GCG implementation aimed at achieving
stakeholders of the Bank. sustainability governance.
The awareness to implement the best corporate Several programs and practices of CIMB Niaga in the
governance has propelled the Bank to implement GCG effort to enhance and develop the corporate governance
programs and activities that are in line with standards implementation especially in response to the impact of
that apply in Indonesia, ASEAN as well as international the COVID-19 in 2020, were as follows:

1. The implementation of a new ways of working 10. To comply with the rules over the health protocols of
(Work From Home-Office), as an adaptation to the COVID-19, the AGM and EGM in 2020 were carried out
widespread of COVID-19 and in preparation to face both physically and on-line through video conference
the New Normal era to ensure the Bank could still and using the e-Proxy system provided by KSEI (eASY.
operate amid the COVID-19 pandemic without risking KSEI) while keep implement the e-Voting method. This
the safety and health of its employees, and increasing to ensure the fulfillment of the rights of shareholders
work productivity. Also, the development of several to attend/be represented and vote in the GMS safely
HR systems such as Y.O.D.A, the Robotic Process and comfortably. The same on-line method was used
Automation (RPA) and the HR Dashboard & Analytic in the Bank’s Annual Public Expose, which was carried
to enhance work efficiency and effectiveness, help out through video conference.
the management in making critical decisions, and 11. Implement the sustainable finance procedure,
provide a better employee experience. especially integrating the aspects of social and
2. Enhancement of the Information Technology system environment including the physical risk and transition
to support and assure the Bank’s operations can risk in the credit analysis process of Corporate
proceed normally and that Bank data and information Banking segment that is further discussed in the
are well protected due to the change in the ways of Bank’s 2020 Sustainability Report; and
working become Work From Home. 12. Updating of Bank policies to align with prevailing
3. Changes in the audit method to remote auditing regulations and the latest condition of the Bank.
including through remote review, data analytics,
conference call and video conferencing. The Internal In the efforts to enhance the quality of its GCG practices,
Audit also reviewed its audit plan quarterly to CIMB Niaga periodically improves its GCG Soft Structure,
ascertain whether the plan is still relevant with the including the followings:
Bank’s development amid COVID-19. 1. The Articles of Association of the Bank that has been
4. The Risk Oversight Committee now requires direct acknowledged by the Minister of Justice and Human
reporting/presentation from the business units that Rights of the Republic of Indonesia based on the letter
represent the Sharia Business Unit and PT CIMB No. AHU-AH.01.03-0213936 on the Receipt of Notice
Niaga Auto Finance (a subsidiary entity) on their on the Amendments of the Articles of Associations of
respective strategies and achievements. This is PT CIMB Niaga Tbk dated 8 May 2020;
deemed necessary by the Risk Oversight Committee 2. The Corporate Charter that was first issued and
to acquire a deeper understanding in terms of risk approved on 25 November 2020;
management on the conditions of these business 3. The Corporate Governance Policy that was first issued
units and their strategies going forward. and approved on 16 September 2020;
5. Signing of the Declaration of Integrity Pact, Code 4. The Policy on the Diversity in the Composition of
of Ethics and Anti-Corruption Commitments by Members of the Board of Commissioners and Board
members of the Board of Commissioners and Board of Directors that has been updated and approved on
of Directors on 9 April 2020. 2 March 2020;
6. Attestation of the Declaration of Integrity Pact, Code 5. The Anti Money Laundering (AML) & Counter-Terrorist
of Ethics and Anti-Corruption Commitments each Financing (CFT) Policy and the Whistleblowing Policy,
year by all employees, both permanent and non- both of which have been updated and approved in
permanent employees. March 2020;
7. Disclosure of the Declaration of Integrity Pact, Code 6. The Policies and Procedures for the Nomination of
of Ethics and Anti-Corruption Commitments by the Members of the Board of Commissioners, Board
Board of Commissioners and Board of Directors on of Directors, Independent Parties, Members of the
the Bank’s website. Committees of the Board of Commissioners and
8. Issuance of the Corporate Governance Policy No. M.12 Succession of Members of the Board of Directors
that consists of the Integrated Governance Policy and Senior Management that have been updated and
of CIMB Niaga Indonesia Financial Conglomerate approved on 26 June 2020;
and Corporate Governance Policy of CIMB Niaga & 7. The Policy on the Fulfillment of Creditors’ Rights
Framework for Subsidiaries. and Policy on Communication with Shareholders/
9. Issuance of the Corporate Charter of the CIMB Investors, both of which have been updated and
Indonesia Financial Conglomerate. approved on 22 September 2020.

ACHIEVEMENT IN GCG IN 2020

CIMB Niaga believes that by implementing the principles of Good Corporate Governance, the bank will be able to
maintain sustainable growth. CIMB Niaga’s commitments towards applying the principles of GCG are evident from
the seriousness with which the Bank carries out improvements and implementation of the Governance structure and
process to constantly yield the best.
Throughout 2020, CIMB Niaga’s commitments towards implementing corporate governance have resulted in very
satisfactory performance that is recognized by external parties for the Bank’s consistency in implementing GCG based
on the highest standards (beyond compliance), including awarded as the Top 3 Indonesia (with the highest score)
and included in ASEAN Asset Class category from the ASEAN Capital Markets Forum for the ASEAN Corporate
Governance Scorecard (ACGS) Award 2019 that was held in 2020, as well as other GCG awards that are described in
the Company Profile Section of this Annual Report.
GCG IMPLEMENTATION STAGES

CIMB Niaga began its GCG implementation since listing its shares in the stock market in 1955 and became a public
company. From here, CIMB Niaga developed the awareness that Good Corporate Governance practices are crucial to
gain the trust of shareholders and other stakeholders and to create a sustainable business.
Thereafter, CIMB Niaga carried out an assessment every year whether a self-assessment or by an independent
institution. These assessments were based on parameters that were deemed relevant for the Bank that is listed on the
Indonesia Stock Exchange. The results of these assessments brought inputs and recommendations that were followed
by the Bank as it continued to make improvements and maximized best practices in GCG, and publicized them through
the Bank’s website, its Annual Report, and press releases, all of which were accessible to stakeholders.

GCG MILESTONES OF
CIMB NIAGA IN 1955-2020
CIMB Niaga is fully committed to being a “Leading ASEAN Company” and achieve its set long-term goal by constantly
making positive contributions to its stakeholders. This strong resolve is carried out by continuously enhancing and
implementing GCG that is based on prevailing standards and best practices of GCG, whether nationally or internationally,
as follows:
1. Signing of Declaration of Integrity Pact, Code of Ethics and Anti-Corruption Commitments by all members of the Board of
Commissioners and Board of Directors.
2. Issued the Corporate Governance Policy that consists of the Integrated Governance Policy of the CIMB Niaga Indonesia Financial
Conglomerat and the Corporate Governance Policy of CIMB Niaga & Framework for Subsidiaries.
3. Issued Corporate Charter of the CIMB Indonesia Financial Conglomerate.
4. Been awarded as Top 3 Indonesia and ASEAN Asset Class category from the ASEAN Capital Markets Forum at the ACGS Award
2020
2019.
5. Implemented new ways of working (Work From Home-Office) in adapting to the COVID-19 pandemic and preparing for the New
Normal era.
6. Enhance information technology systems that support the new ways of working (Work From Home) to operate smoothly and
effectively.
7. Convened AGM, EGM and Annual Public Expose virtually through on-line technology using video conference, e-Voting and e-Proxy.
1 Appointment of one of the Independent Commissioners as Senior Independent Commissioner.
2 The used of independent third party (search firm) for the search process for candidate of the Commissioners and the Directors.
3 Issued the Anti-Corruption Policy.
4 Implemented the orientation program for new members of the Board of Commissioners and the Board of Directors conducted
2019 through e-Learning application (LoG).
5 Developed the ReCoM (Regulatory Commitment Monitoring) system.
6 Succeeded in maintaining 1st position ARA 2019 in the Private Financial Institution category, “The Best Corporate Governance
Overall 2019” and “Top 50 Emiten” for Indonesia Public Companies with Large Capitalization category from IICD. And “TOP GRC”,
“The Most Committed GRC Leader” and “The High Performing Corporate Secretary of GRC” from TOP GRC 2019.
1. Became the first Public Company in Indonesia to carry out e-Voting at the GMS held in 2018.
2. Continuous improvement in GCG implementation, resulted in gaining recognitions and awards from leading independent
institutions, namely “Top 50 ASEAN” and “Top 3 Indonesia” at the ASEAN Corporate Governance Awards 2018 organized by the
ASEAN Corporate Governance and ASEAN Capital Markets Forum (ACMF), as well as “Top 50 and The Best Overall 2018” for the
2018 category of Indonesian Listed Company with Large Capitalization from the Indonesian Institute for Corporate Directorship.
3. Revamped the Bank’s website, particularly regarding GCG and Investor Relations.
4. Adjusted the Good Corporate Governance & Sustainability unit.
5. Renewed the Audit Committee Charter and Integrated Governance Committee Charter, and completed and/or improved internal
policies related to GCG.
1. Established the GCG unit that is responsible for and focuses on improving GCG implementation in the Bank.
2017 2. Appointed PT Deloitte Konsultan Indonesia as an independent party to manage the CIMB Niaga’s Whistleblowing System since
December 2017, enhancing the transparency and professionalism of the whistleblowing system of the Bank.
3. Renewed the Board of Commissioners Charter and Board of Directors Charter.
4. Provided job opportunities for people with disability as employees of the Bank, which is part of CIMB Niaga’s CSR programs.
1. Improved the GCG Charter as outlined in the Corporate Policy Manual.
2016 2. Improved the Policy on Conflict Management that also governs issues on Insider Trading.
3. Assessed the performances of the Board of Commissioners, Board of Directors and Committees under the Board of Commissioners.
1. Developed the Bank’s GCG practices to align with OJK regulations and to manifest GCG in the Bank’s corporate culture of “A Better
CIMB Niaga/ABC.”
2015 2. Issued Invitation to AGM within 28 days prior to the date of the AGM.
3. Implemented the Integrated Governance and Integrated Risk Management by establishing the Integrated Governance Committee
and the Integrated Risk Management Committee.
1. Implemented the ASEAN Corporate Governance Scorecard principles fully, leading to the selection of CIMB Niaga as one of the
two listed companies in Indonesia to receive the “Top 50 Public Listed Companies” in ASEAN based on the ASEAN Corporate
Governance Scorecard in 2015.
2014 2. Disclosed the GMS Agenda and its elucidation.
3. Disclosed the profiles of candidate members of the Board of Commissioners and Board of Directors.
4. Published AGM resolutions on the same day as the AGM.
5. Uploaded the video on AGM resolutions on the Bank’s website on the same day as the AGM.
Aligned and refined the Bank’s GCG practices with the Indonesian Corporate Governance Roadmap issued by the Regulator, and the
2013 principles of the ASEAN Corporate Governance Scorecard, including ensuring that there is a minimum of 1 (one) female Independent
Commissioner on the Board of Commissioners of CIMB Niaga.
Set the infrastructure and implemented GCG (formulated he GCG Charter, the Board of Commissioners Charter, the Board of
2010-2011 Directors Charter, the Committee Charters, the Code of Ethics and Employment Conduct) and gained the recognitions of the IICG,
IICD, and ARA.
2008 Bank Rebranding and Merger
1989 Go Public.
1974 Became a foreign-exchange Bank.
1955 Establishment of the Bank (Incorporated).

GCG OBJECTIVES
Good governance is a key indicator for shareholders to evaluate the performance of the Bank and have a measure of
confidence that the Bank is being managed professionally and that it is able to serve the interest of the shareholders
and other stakeholders, and undertakes its business by complying with the laws and regulations. But more than that,
CIMB implements the principles of GCG consistently and continuously to create added value and maintain the trusts of
its stakeholders.
CIMB Niaga implements GCG by referring to 4 aspects of governance, which are governance commitment, governance
structure, governance process and governance outcome. Through these four aspects, CIMB Niaga believes that the
development of GCG will enable the Bank to achieve both its short-term and long-term goals, as follows:
1. Achieve growth and investment returns that are optimum to create a solid foundation for the Bank to continue
to grow and evolve, thereby creating long-term shareholder value without neglecting the interests of all other
stakeholders;
2. Control and direct good relations among the shareholder, the Board of Commissioners, the Board of Directors and
all of the Bank’s stakeholders;
3. Support the activities of internal control and the development of the Bank;
4. Manage resources more judiciously;
5. Increase accountability to the shareholder and the stakeholder;
6. Foster the corporate culture of the Bank; and
7. Increase Bank competitiveness, the trust of investors and the value of the Bank.
STRUCTURE AND MECHANISM

OF BANK GOVERNANCE
Pursuant to the Law of the Republic of Indonesia No. 40 of 2007 on the Limited Liability Company, the organs of
the Bank Governance comprises of the General Meeting of Shareholders, the Board of Commissioners and the Board
of Directors. Pursuant to the Bank’s Articles of Association and the prevailing laws and regulations, each of those
organs play a key role in the implementing Corporate Governance and carry out the respective functions, duties and
responsibilities in the interest of the Bank in carrying out its business activities.
CIMB Niaga has and implements 4 pillars of Good Corporate Governance/GCG that comprises of governance
commitment, governance structure, governance process and governance outcome.
Good Governance Pillar
Sustainable
Governance Outcome
Governance Structure Governance Process

GMS, Board of Commissioners, Sharia Stakeholders Relations, Policy
Supervisory Board and Board of Directors Formulation and Decision Making
Supporting Organs (Committees of the Board

of Commissioners, Executive Committees,
Special Committees, Corporate Secretary,
Operating Units & Independent Units)
Infrastructures (Regulations and

operational policies of the Bank)
Governance Commitment
Vision, Mission, Core Values, Charter, Code of Ethics and CSR

GOVERNANCE COMMITMENT
To achieve the desired results of GCG implementation on a consistent and continuous basis requires the full commitments
of the Top Management of the Bank and all levels below that will ultimately form as part of the corporate culture. To
ensure the full commitments, CIMB Niaga expresses these commitments in the formulation of the Bank’s vision and
mission statements that are clear and realistic, the core values that represent good morals and positive attitudes,
formulation of the Code of Ethics and Conduct, Charter, implementation of Risk Management and the Whistleblowing
System and the Corporate Social Responsibility.
All of the above are periodically reviewed and updated to align with current best practices, the condition and development
of the Bank’s business environment, and prevailing laws and regulations.
GOVERNANCE STRUCTURE
The Governance Structure of CIMB Niaga comprises of the main organs, which are the General Meeting of Shareholders,
the Board of Commissioners and the Board Directors; and the supporting organs that consist of the Committees of the
Board of Commissioners, Committees of the Board of Directors, the Corporate Secretary, Business Units/Operating
Units and Independent Units. Whereas the Governance infrastructure comprises of among others the Internal Policies
and Regulations of the Bank in carrying out its business.
Corporate Governance Structure of the Bank
MAIN ORGAN
General Meeting of Shareholders
(GMS)
Board of Commissioners (BOC)

Board of Directors (BOD)
& Sharia Supervisory Board
SUPPORTING ORGAN
Executive Committee
BOC Committee
(ExCo)
Special Committee
(SpeCo)
Corporate Secretary
Working Unit
Independent Unit
INFRASTRUCTURE
Regulations and Policies of the Bank in
conducting business

GOVERNANCE PROCESS
CIMB Niaga undertakes the governance process through the procedures and mechanism that are structured and
systematic in order to produce the outcome that fulfils the principles of GCG. The Governance process at CIMB Niaga
is supported by adequate Governance structure and infrastructure to produce an outcome that is in line with the
expectations of stakeholders.
GOVERNANCE OUTCOME
The governance outcome represents the manifestation of the implementation of GCG by the Bank that begins with the
governance commitment and proceeds through an integrated governance structure and governance process.
As a result of the implementation of GCG by the Bank as discussed above, CIMB Niaga has been able to maintain its
existence amid the business competition within the banking industry and the recently challenging condition due to the
COVID-19 pandemic. The Bank also believes that GCG can have a positive influence towards the creation of value and
business sustainability of the Bank over the long term in line with the expectations of the Bank stakeholders.
CIMB Niaga implements all of the principles of Corporate Governance namely Transparency, Accountability,
Responsibility, Independency and Fairness (TARIF), which are practiced through various means, as follows:
Transparency • CIMB Niaga discloses information in an accurate, clear, adequate and timely manner.
• CIMB Niaga upholds information disclosure with strict observance to the principle of bank confidentiality,
official secrecy and the privacy rights pursuant to prevailing laws and regulations.
• CIMB Niaga information disclosure is accessible to all stakeholders in accordance with their rights.
• The policies of CIMB Niaga are documented and communicated to stakeholder in accordance with their
respective rights and prevailing regulations.
Accountability • The Board of Commissioners and Board of Directors have well defined duties, authorities and responsibilities
and carry out the checks and balance system in managing the Bank.
• All members of the Board of Commissioners and Board of Directors have adequate competences, in accordance
with their respective duties and responsibilities as well as understanding of their roles in implementing good
corporate governance.
• Every member of the Board of Directors and all of the personnel below them have clear duties and responsibilities
and in line with the Vision, Mission, Corporate Core Values and strategies of CIMB Niaga.
• CIMB Niaga also has key performance indicators for all management personnel based on parameters that are
agreed upon and consistent with the business targets and strategies of the Bank, as well as the reward and
punishment system.
• The Board of Commissioners and Board of Directors account for their performances to the Shareholders
through the General Meeting of Shareholders.
• Periodically and continuously, CIMB Niaga carries out assessments on the performances of the Board of
Commissioners, Committees of the Board of Commissioners, Board of Directors and the Committees of the
Board of Directors.
Responsibility • CIMB Niaga conducts its business by constantly adhering to the prudent banking principles and pursuant to
prevailing laws and regulations.
• CIMB Niaga manifests its concerns towards the environment and surrounding communities through corporate
social responsibility programs and activities in a fair manner.
• CIMB Niaga always upholds the principle of integrity including by sending anti-gratification statement letter
(Integrity Pact) each year to all vendors and customers of the Bank.
• CIMB Niaga also applies sustainability banking by integrating environmental, economic and social aspects to the
Bank’s business.
Independence • CIMB Niaga conducts its business independently without any interference from Shareholders, the Controlling
Shareholder and any other stakeholders.
• CIMB Niaga avoids conflict of interest at all times.
• Decisions are made objectively and based solely on the Bank’s interest.
Equality and Fairness • CIMB Niaga strives always to consider the interests of all stakeholders based on the principles of equality and
fairness.
• By adhering to the principles of equality and fairness, CIMB Niaga provides equal access to all stakeholders of
the Bank.
• CIMB Niaga provides every opportunity to all shareholders to voice their opinion/question in the General
Meeting of Shareholders.

GCG IMPLEMENTATION
ASSESSMENT
CIMB Niaga consistently strives to improve the quality 3. Governance Outcome
of GCG implementation, as reflected in the increase in The assessment of the Governance outcome aims
governance outcomes each year, including operational at evaluating the quality of the Bank’s outcome,
and financial performance that show sustainable qualitatively as well as quantitatively, which is the
growth as a result of GCG implementation. To maintain result of the proper process of Good Corporate
consistency, the Bank always measures the quality of GCG Governance implementation supported by adequate
implementation, whether carried out by self-assessment Governance structure and infrastructure.
or in collaboration with third party assessor to obtain a
more independent assessment result. ASSESSMENT CRITERIA
Self-assessment is conducted periodically on GCG
SELF-ASSESSMENT principles comprising the following 11 factors of
In support of the quality of GCG implementation, the Bank governance assessment:
performs GCG self-assessment involving the evaluation 1. Implementation of the duties and responsibilities of
by the Board of Commissioners and Independent the Board of Directors.
Parties, the Board of Directors, Executive Officers and 2. Implementation of the duties and responsibilities of
independent functions. CIMB Niaga conducts self- the Board of Commissioners.
assessment on the implementation of Governance 3. Completion and duties execution of the Committees.
principles of Transparency, Accountability, Responsibility, 4. Management of conflict of interest.
Independence, and Fairness and Equality in the Bank’s 5. Implementation of the compliance function.
operational activities, which are carried out every 6. Implementation of the internal audit function.
semester, as stipulated in POJK No. 55/POJK.03/2016 and 7. Implementation of the external audit function.
SEOJK No. 13/POJK.03/2017 concerning Implementation 8. Implementation of risk management including
of Governance for Commercial Banks. internal control system.
9. Provision of funds to related parties and large
PROCEDURES exposures.
The Bank perform a comprehensive and structured 10. Transparency of the Bank’s financial and non-financial
self-assessment integrated into the 3 (three) aspects of conditions, GCG implementation report and internal
Governance, which are: reporting.
11. Bank’s strategic plan.
1. Governance Structure
The assessment of the Governance structure aims at The Bank also consider other information related to
evaluating the adequacy of the Bank’s Governance Governance implementation, outside the above 11
structure and infrastructure. A Governance structure assessment factors.
and infrastructure that are in accordance with
the principles of Good Corporate Governance will The end result of the Bank’s assessment of Governance
produce results that are in line with the expectations implementation is based on the results of questionnaire
of the Bank’s stakeholders. to selected respondents and by factoring-in findings
within the Bank with the questionnaire results. These
2. Governance Process findings are compiled from various units in the Bank,
The assessment of the Governance process aims such as Internal Audit, Anti-Fraud Management, Risk
at evaluating the effectiveness of the Bank’s Management, Human Resources, Compliance and
implementation of the Governance principles. others, and also include findings from regulators.
Alongside an adequate Governance structure and
infrastructure, good Governance processes are
expected to enable the Bank to perform according to
the expectations of stakeholders.

PARTIES CONDUCTING THE ASSESSMENT

The self-assessment of the Governance implementation for Bank-only involves the Board of Commissioners, Board
of Directors, Independent Parties, and Executive Officers of the Bank, to arrive at a comprehensive and well-stricture
evaluation on the effectiveness and quality of the Bank’s Governance systems and outcomes. In the consolidated
Governance assessment, each subsidiary conducts a Governance self-assessment as stipulated by the respective
capital market and financing sector authorities. Results of the subsidiary self-assessment are then consolidated using
an internal methodology based on materiality and significance.
ASSESSMENT RESULT
The result of the GCG self-assessment for Semester I and Semester II 2020, for bank-only and consolidated with
subsidiaries, is as follows:
GCG Implementation Self-Assessment Results

Entity Rank Rank Definition
Bank (Individually) 2 Bank Governance Rating is 2 (GOOD), which reflects that Bank’s Management has adequately
applied the Good Governance principles.
CIMB Niaga Auto Finance 2 CNAF Governance Rating is 2 (GOOD), which reflects that CNAF generally has complied with the
(CNAF) Governance provisions and principles.
CIMB Niaga Sekuritas 3 CNS Governance Rating is 3 (FAIR), which reflects that CNS gradually has complied with the
(CNS) Governance provisions and principles in line with CNS operational activity which is still limited.
Consolidated 2 Consolidated Governance Rating is 2 (GOOD), which reflects that Bank and Subsidiaries,
Management has adequately applied the Good Governance principles.
In 2020, CNAF and CNS also conduct the GCG self-assessment in accordance with OJK Governance provisions related to
its business activities as a Financing Company and Securities Company.
RECOMMENDATIONS AND FOLLOW-UP EXTERNAL ASSESSMENT

In 2020, the self-assessment of CIMB Niaga’s Governance,
for bank-only and in a consolidated manner, achieved ASEAN CORPORATE GOVERNANCE SCORECARD
an overall rating of 2 (Good). This means that, in In recent years, CIMB Niaga has also received assessment
general, the Bank and its subsidiaries are deemed for its Governance implementation in each year based
adequate in applying the principles of Governance, on the ASEAN Corporate Governance Scorecard (ACGC)
despite of a number of weaknesses identified in the criteria, which adopts the Corporate Governance
aspect of Governance. The management of the Bank principles issued by the Organisation for Economic
and its subsidiaries are able implement good corporate Cooperation and Development (OECD). ACGS is an
governance. The Bank and its subsidiaries are committed initiative of the ASEAN Capital Market Forum (ACMF),
to implementing the principles of Governance in their the association of ASEAN capital market authorities, and
activities to achieve business sustainability. supported by the Asian Development Bank (ADB), to
improve the governance practices of listed companies in
From the results of the self-assessment in 2020, the Bank ASEAN and promote these companies as an asset class.
and subsidiaries have identified a number of weaknesses The Bank uses the results of the assessment based on
to be followed-up, including improvement to a number of the ACGS criteria to give confidence and objectivity in the
internal regulations, and strengthening the governance quality of GCG implementation within the Bank.
process in support of a more effective internal control
system.

ASSESSMENT PROCEDURE ASSESSMENT CRITERIA

Assessment of the Corporate Governance implementation The criteria for the ACGS assessment consists of 5
of listed companies were based on a review of publicly (five) aspects, namely Rights of Shareholders, Equitable
available and accessible information in English, and Treatment of Shareholders, Role of Stakeholders,
includes information disclosed in the respective Disclosure and Transparency, and Responsibilities of the
company’s Annual Reports, corporate websites, as well Board.
as announcements and circulars issued.
The assessment methodology consists of 2 (two) levels: The ASEAN Capital Market Forum (ACMF) evaluates
1. Level 1: minimum standard items that are expected through the Domestic Ranking Body (DRB) as the
to be implemented in each ASEAN member countries, representative appointed by the respective regulator
including prevailing laws and regulations as well as in each respective member countries to conduct
the OECD principles. assessment at a national level. In Indonesia, OJK has
2. Level 2: bonus items reflecting practices beyond appointed PT RSM Indonesia Consultant (RSM) in 2016 to
minimum standard expectations, and penalty items act as the DRB for the country. To maintain objectivity of
reflecting of poor governance practices. assessment, the results was also verified by the DRBs of
other ASEAN member countries.
Domestic Assessment
Assessment at respective country ASSESSMENT RESULT
The result of the Bank’s GCG assessment based on ACGS
performed by RSM with a cut-off date of 30 June 2019,
CIMB Niaga achieved a total score of 113.84 which is
higher than the assessment result of the previous period
Peer Review with a score of 109.19. The assessment score places
Assessment made among ASEAN CIMB Niaga in the “Top 3 in Indonesia” and “ASEAN Asset
country members
Class” categories according to the ASEAN Capital Markets
Forum. The score achieved by CIMB Niaga is also the
highest score achieved by any corporations in Indonesia.
Finalization RECOMMENDATION AND FOLLOW-UP

Verification on certain items and final Among the recommendations received by CIMB Niaga
evaluation for “ASEAN Asset Class”, “Top for the Bank’s GCG assessment based on ACGS are:
20 ASEAN” and “Top 3” of respective
countries”
Recommendation Follow-Up
Information disclosure in the minutes of meeting of the AGM In the Annual GMS held in 2020, CIMB Niaga had ensured that the
documenting the availability of opportunity for Shareholders to minutes of meeting of the AGM have properly documented that
submit their questions, the details of questions submitted, and the Shareholders are given the opportunity to submit their questions,
answer given details of the questions asked, and the answers given, including if
there were no question submitted by the Shareholders
Independent Commissioners to have a term of office of 9 (nine) years The Bank has followed-up by issuing a policy for Independent
maximum Commissioners of the Bank to have a term of office of maximum 2
(two) periods and not exceeding 9 (nine) years, consecutively

INDONESIAN INSTITUTE FOR CORPORATE ASSESSMENT CRITERIA

DIRECTORSHIP (IICD) The assessment criteria consist of 5 (five) aspects,
In 2020, CIMB Niaga also conducted another external namely Rights of Shareholders, Equitable Treatment
GCG assessment in collaboration with the Indonesian of Shareholders, Role of Stakeholders, Disclosure and
Institute for Corporate Directorship (IICD). The IICD Transparency, and Responsibilities of the Board.
GCG assessment uses an evaluation method based on
the ACGS parameters issued by the Organization for PARTIES CONDUCTING THE ASSESSMENT
Economic Cooperation and Development (OECD), and An independent GCG expert appointed by the IICD
also considers any cases of corruption involving the performs the assessment. The assessment results, in the
public company. form of a report, are then submitted to the Bank.
PROCEDURE ASSESSMENT RESULT

The Bank’s GCG implementation is evaluated using the The IICD in its ACGS Research Result Report for 2020 for
ACGS parameters based on the Bank’s disclosure of the Bank, based on the Bank’s 2019 Annual Report and
information, including in the official website, the Annual the Bank’s website, give a score of 119.13 to the Bank.
Report, and the Report of Disclosure of Information This places the Bank’s compliance performance in the
to the Indonesian Stock Exchange. The assessment category “Leadership in Corporate Governance.”
methodology is similar to the ACGS with Level 1 of
minimum standards and Level 2 of bonus items and
penalty items.
RECOMMENDATION AND FOLLOW-UP

Recommendations made on the assessment, and the Bank’s subsequent follow-up actions, are:
Recommendation Follow-Up
To encourage all members of the Board of Commissioners and Since the 2019 AGM, All members of the Board of Commissioners,
Board of Directors to attend/participate in the AGM the Sharia Supervisory Board, the Board of Directors and the Audit
Committee of the Bank have attended the AGM, except those that
have resigned or have ended their term of office.
All members of the Nomination and Remuneration Committee to This recommendation is unable to be followed-up by the Bank, as
consist of Independent parties the membership composition of the Nomination and Remuneration
Committee is in compliance with OJK regulations.

GENERAL MEETING OF SHAREHOLDERS
The General Meeting of Shareholders (GMS) is the highest The legal basis for organizing the CIMB Niaga’s GMS
body in CIMB Niaga’s corporate governance structure refers to:
and is the forum for shareholders to make decisions. 1. Law No. 40 of 2007 concerning Limited Liability
The GMS has the authority not granted to the Board of Companies.
Directors and Board of Commissioners as stipulated 2. Financial Services Authority (OJK) Regulation
in applicable laws and regulations, and CIMB Niaga’s concerning the General Meeting of Shareholders of
Articles of Association. Public Companies; and
3. Bank’s Articles of Association.
Shareholders make decisions through the GMS, based on
the Bank’s interests fairly and transparently. The CIMB In addition to the above legal requirements, CIMB Niaga
Niaga GMS consists of an Annual GMS (AGM) held once GMS are also conducted in accordance with the ASEAN
a year, and Extraordinary GMS (EGM) that can be held at Corporate Governance Scorecard provisions.
any time based on needs. Both the AGM and EGM have
the highest authority in the Bank’s corporate governance
structure.
SHAREHOLDERS
Shareholders are individuals or legal entities that legally own Bank shares. Shareholders do not intervene in the
functions, duties and authority of the Board of Commissioners and the Board of Directors.
CIMB Niaga’s Shareholders composition as of 31 December 2020 was as follows:
Shareholders Name Total Shares (Unit) Ownership Percentage (%)

CIMB Group Sdn Bhd 22,991,336,581 91.48
PT Commerce Kapital 255,399,748 1.02
Public (<5%)* 1,884,870,514 7.50
*)
Including Treasury Stocks
RIGHTS, AUTHORITY AND RESPONSIBILITY OF 5. Opportunity to raise questions on every agenda item
THE SHAREHOLDERS and every agenda decision in the GMS;
The Bank’s Shareholders consist of class A shares and 6. Opportunity to vote agree, disagree, or abstain on
class B shares. Both class A and class B shareholders any proposed decision in the GMS agenda; and
have the same rights. Each share has rights of 1 (one) 7. Receive equal treatment from CIMB Niaga.
vote.
In addition, shareholders also have the authority including:
The rights held by shareholders include, among others: (i) to appoint and dismiss members of the Board of
1. Attend the GMS and cast 1 (one) vote; Commissioners and members of the Board of Directors,
2. Opportunity to propose the GMS agenda and (ii) to conduct assessments on the performance of the
candidates of the Board of Commissioners and the Board of Commissioners and the Board of Directors,(iii)
Board of Directors’ members by 1 (one) shareholder temporarily dismiss the members of the Board of
or more representing at least 1/20 (one twentieth) of Directors, (iv) approve amendments and ratification of
the total shares with voting rights; the Bank’s Articles of Association, (v) approve the Annual
3. Opportunity to grant a proxy to another party if Report, (vi) approve the remuneration for the Board of
the shareholder is unable to attend the GMS. The Commissioners and the Board of Directors, as well as
proxy form is available on the Bank’s website (www. (vii) approve the proposed allocation of Bank’s profits,
cimbniaga.co.id); including dividend distribution.
4. Receive and read up the GMS materials no later
than 28 (twenty-eight) days prior to the GMS, so that Shareholders rights, authorities and responsibilities
shareholders are prepared to vote during the GMS are regulated, in details, in CIMB Niaga’s Articles of
resolution process; Association that is accessible through the Bank’s website

(www.cimbniaga.co.id). The Bank also consider the The following is an abbreviated discussion on the
location of GMS ensuring it is easily accessible by the implementation and resolutions of the AGM and EGM
shareholders and/or their proxies and encourages all in 2020, and information on the follow up actions of the
shareholders including institutional shareholders to Bank:
attend the CIMB Niaga’s GMS.
AGM 9 APRIL 2020
GMS OF CIMB NIAGA IN 2020 In 2020, the Bank held 1 (one) AGM on 9 April 2020 which
In 2020, due to the COVID-19 pandemic, the Bank held was convened in accordance with the mechanism set out
the AGM on 9 April 2020 and EGM on 25 September in POJK No. 32/POJK.04/2014 as amended by POJK No.
2020 virtually through video conference that is further 10/POJK.04/2017 and the provisions of the Bank’s Articles
explained below. The resolution of both GMS have been of Association.
reported to OJK and uploaded on the Bank’s website
(www.cimbniaga.co.id), the website of IDX (www.idx.
co.id) and published in the Investor Daily and The Jakarta
Post on the same day.
THE PROCESS OF AGM ON 9 APRIL 2020
Date & Time 9 April 2020 at 14:17 - 15:32 GMT + 7

Location Graha CIMB Niaga – Fl. 15, Fl. 14 and Fl. M
Jl. Jend. Sudirman Kav. 58
Jakarta Selatan 12190
Quorum The AGM (Meeting) was attended by shareholders and representatives/proxies representing
23,940,283,849 shares or 96.0161% of the total shares issued by the Bank (both class A shares
and class B shares), totaling 24,933,620,041 shares (not included Treasury shares with the total
of 197,986,802 shares). Accordingly, the quorum required in Article 13 Paragraphs 13.1 and
13.6 of the Bank’s Articles of Association have been fulfilled and the Meeting is therefore valid
and entitled to make legitimate and binding decisions regarding matters discussed according
to the agenda Meeting.
AGM Chairman Jeffrey Kairupan as Independent Commissioner (Senior).
The Board of Commissioners All members of the Board of Commissioners were attended, whether in person or via video
including the conference, except for Tengku Dato’ Sri Zafrul Abdul Aziz who has resigned effective on 9
President Commissioner in attendance March 2020 after having been officially appointed and taken the position of the Finance
Minister of Malaysia, his resignation of which has been submitted in the AGM on 9 April 2020.
The Board of Directors including the Tigor M. Siahaan as the President Director was attended along with all the other members of
President Director in attendance the Board of Directors either in person or via video conference.
The Sharia Supervisory Board (SSB) in Prof. Dr. M. Quraish Shihab, MA as Chairman of the SSB was attended via video conference.
attendance
The Audit Committee in attendance, Jeffrey Kairupan as Chairman and Zulkifli M. Ali as member was attended whether in person
including the Chairman of Audit or via video conference.
Committee
Chairman of the NRC Committee in Pri Notowidigdo, as the Chairman was attended via video conference.
attendance
Chairman of KIPER in attendance Zulkifli M. Ali as Chairman was attended via video conference.
Chairman of IGC in attendance Jeffrey Kairupan as Chairman was attended via video conference.
Number of shareholders who raised All shareholders were given the opportunity to raise questions and/or opinions on each
questions and/or opinions agenda of the AGM. However, none of the shareholders raised any question or opinion.

IMPLEMENTATION STAGES OF THE AGM ON 9 APRIL 2020
Date of
No Activity Explanation
Implementation
1 Notification of AGM to Regulator 18 February 2020 Submitted to the OJK and PT Indonesia Stock Exchange (IDX) within 5
(five) working days prior to the announcement of the AGM.
2 Announcement of AGM 25 February 2020 1. Conducted within 14 (fourteen) days prior to the invitation of
the AGM, not including the date of the GMS announcement and
invitation.
2. Announced in Indonesian and English in:
a. “Investor Daily” and “The Jakarta Post” newspapers;
b. Bank’s website and IDX’s website
3. Proofs of the announcement were submitted to OJK and IDX on the
same day (hardcopy and e-reporting via SPE-OJK & IDX-Net).
3 Recording Date of List of 10 March 2020 Recorded 1 (one) working day prior to the AGM Invitation
Shareholders entitled to attend the
AGM
4 Invitation with explanation of 11 March 2020 1. Conducted within 28 (twenty-eight) days prior to the AGM
agenda of AGM implementation regardless the date of AGM Invitation and date of
AGM.
2. Announced in Indonesian and English in:
a. “Investor Daily” and “The Jakarta Post” newspapers;
3. Proofs of the announcement were submitted to OJK and IDX on the
same day (hardcopy and e-reporting via SPE-OJK & IDX-Net)
Revision on Invitation to the AGM 13 March 2020 Revision on the year of the AGM was made in Bahasa Indonesia, and
information on agenda 8, specifically point (c) in Bahasa Indonesia and
English, that was publicized through daily the newspapers and on the
Bank’s website on the same date as the invitation to the AGM.
Amendment on Invitation to the 1 April 2020 Revision on information of the AGM’s venue and additional information
AGM to assure the health of Shareholders and prevention of the COVID-19
spread, was made in Bahasa Indonesia and English, publicized through
daily the newspapers and on the Bank’s website on the same date as
the invitation to the AGM.
5 AGM 9 April 2020 Pursuant to the health protocols of COVID-19, the AGM was convened
physically from three separate rooms that are interconnected via
video conference (including the AGM participants who did not attend
physically) enabling all AGM participants to see, hear and follow the
event directly and participated actively in the AGM.
6 Summary of the Minutes 9 April 2020 The publication of resume of the AGM (notarial) contain the voting
(Resolutions) of the AGM results of each agenda was uploaded in Indonesian and English on the
Bank’s website on the same day with the AGM.
14 April 2020 1. Summary of the Minutes (Resolutions) of the AGM was published
within 2 (two) working days after the AGM, in Indonesian and English
in:
a. “Investor Daily” and “The Jakarta Post” newspapers; and
2. Proofs of the publications were submitted to OJK and IDX on the
same day (hardcopy and e-reporting via SPE-OJK & IDX-Net).
7 Revision of the Summary of Minutes 16 April 2020 Revision on the schedule for the distribution of dividends, publicized
(Resolutions) of the AGM through the same newspapers and websites with the Summary of
Minutes (Resolutions) of the AGM.
8 Deed of Minutes of AGM 11 May 2020 Deed of AGM Minutes submitted to OJK within 19 (nineteen) working
days after the AGM (hardcopy and e-reporting via SPE-OJK & IDX-Net).

ONLINE VOTING AND VOTE CALCULATION candidates of the Board of Directors that were proposed
MECHANISM (E-VOTING) for appointment or reappointment in connection with
The AGM decision-making is made by deliberations the end of tenure of the candidates in question.
for consensus. However, to ensure that deliberation
for consensus was reached, while maintaining the Disclosures on the procedures of voting and its tally in
independence and confidentiality of shareholders in the AGM have been stated clearly in the Protocols of
the voting process, the decision-making is conducted Meeting that was publicized/uploaded on the Bank’s
through voting. Voting is conducted by the shareholders website together with the Invitation to the AGM, and
or their proxies directly in confidentiality through the was read by the Corporate Secretary before the start
electronic means (e-voting) using a Smartphone or other of Meeting. In addition to the Protocols of Meeting, the
Mobile Devices (tablets and others), as well via Touch voting procedures were also uploaded onto the website
Screen Monitor provided by the Bank, such that the in the form of an illustrated video.
confidentiality and independency of Shareholder’s votes
are secured. INDEPENDENT PARTY TO CALCULATE VOTES
At the AGM on 9 April 2020, CIMB Niaga has appointed
Voting was carried out on: (i) each agenda of AGM, (ii) independent parties, namely: (i) Notary Ashoya Ratam,
on the respective member candidates of the Board of S.H., M.Kn., as the Public Notary and (ii) PT Bima Registra
Commissioners that were proposed for appointment or as the Share Registrar Bureau in calculating and/or
reappointment in connection with the end of tenure of validating quorum as well as the voting in the AGM.
the candidate in question, and (iii) the respective member
RESOLUTIONS OF THE AGM 9 APRIL 2020

All resolutions have been adopted in: (i) Deed No. 18 dated 9 April 2020 made by and before the Notary Ashoya Ratam
S.H., MKn., Notary in South Jakarta (Notary), (ii) Deed No. 19 dated 9 April 2020, which was made before the Notary
and had received notification from the Minister of Law and Human Rights of the Republic of Indonesia (Menkumham)
based on Letter No. AHU-AH.01.03-0213921 dated 8 May 2020, and (iii) Deed No. 20 dated 9 April 2020, which was made
before the Notary and had received notification from the Minister of Law and Human Rights of the Republic of Indonesia
(Menkumham) based on Letter No. AHU-AH.01.03-0213936 dated 8 May 2020. Details of the AGM resolutions on 9 April
2020 are as follows:
1st Agenda Approval of the Company’s Annual Report and Ratification of the Company’s Consolidated Financial Statements
for the Financial Year ended on 31 December 2019.
Voting Calculation Results Total Majority Votes: 23,938,324,049 shares or 99.9918% (Agree)
Agree Disagree Abstain/No vote*
23,938,178,198 shares or 99.9912% 1,959,800 shares or 0.0082% 145,851 shares or 0.0006%
Meeting Resolutions 1. Approved the Annual Report of the Company for the financial year ended on 31 December 2019;
2. Ratified the Company’s Consolidated Annual Financial Statements for the financial year ended on 31
December 2019 as audited by the Public Accounting Firm Tanudiredja, Wibisana, Rintis & Rekan (member
firm of PricewaterhouseCoopers Global in Indonesia) as stipulated in the report dated 17 February 2020 with
the opinion “the Consolidated Financial Statements presented fairly, in all material respects, the consolidated
financial position of PT Bank CIMB Niaga Tbk and its subsidiaries as of 31 December 2019, and their
consolidated financial performance and cash flows for the year then ended, in accordance with Indonesian
Financial Accounting Standards”.
3. Ratified the annual Supervisory Reports by the Board of Commissioners and the Shariah Supervisory Board
(SSB) for the financial year ended on 31 December 2019; and
4. Granted full release and discharge (volledig acquit et décharge) to the members of the Board of Directors
(BOD) and the Board of Commissioners (BOC) as well as the SSB of the Bank (including the members of the
Board of Commissioners who have resigned in 2019), for their management and supervision performed in
financial year of 2019 provided that the management and supervision are reflected in the Company’s Annual
Report for the financial year ended on 31 December 2019.
Realization Realized in 2020.

2nd Agenda Determination on the Use of the Company’s Profits for the Financial Year ended on 31 December 2019.
Voting Calculation Results Total Majority Votes: 23,940,283,849 shares or 100% (Agree)
Agree Disagree Abstain/No Votes*
23,940,137,998 shares or 99.9994% 0 share or 0% 145,851 shares or 0.0006%
Meeting Resolutions Approved the appropriation of the Company’s Net Profit for the financial year of 2019 in the total amount of
Rp3,480,403,347,581, with the following details:
1. Distribution of cash dividends to a maximum of 40% of the Company’s net profit, or amounted maximum up
to Rp1,392,161,339,032 (gross), with the following schedule:
• Cum Dividend in the Regular and Negotiation Market 20 April 2020

• Ex Dividend in the Regular and Negotiation Market 21 April 2020
• Cum Dividend in the Cash Market 22 April 2020
• Recording date for entitled shareholders 22 April 2020
• Ex Dividend in the Cash Market 23 April 2020
• Dividend Payment for Financial Year of 2019 8 Mei 2020
and approved the delegation of authority to the BOD to determine the procedure for distributing the cash
dividends by taking into account applicable capital market sector regulations.
2. The Company shall not appropriate any net profit for financial year 2019 as statutory reserves, considering
the statutory reserves of the Company has complied with the minimum requirement in accordance with
Article 70 of Law Number 40 Year 2007 concerning Limited Liability Company (UUPT);
3. Booked the remaining net profit for financial year of 2019, after deducting the distribution of dividends, as
retained earnings of Rp2,088,242,008,548 to finance the Company’s business activities.
Realization Realized in 2020
3rd Agenda Appointment of the Company’s Public Accountant and Public Accounting Firm for the Financial Year of 2020 and
the determination of the Honorarium and other Requirements related to the Appointment.
Voting Calculation Results Total Majority Votes: 23,940,283,849 shares or 100% (Agree)
Meeting Resolutions 1. Approved the appointment of Irhoan Tanudiredja and the Public Accounting Firm “Tanudiredja, Wibisana,
Rintis & Rekan” (a member of the PricewaterhouseCoopers Global in Indonesia), respectively as Public
Accountant and Public Accounting Firm registered in OJK, or other Public Accountant from the same Public
Accounting Firm in the absence of the respective person to conduct audit of the Company’s Financial
Statements for financial year of 2020.
2. Approved the delegation of authority to the Board of Commissioners of the Company to appoint another
Public Accountant and Public Accounting Firm, if there is an objection from OJK over the appointment of
“Tanudiredja, Wibisana, Rintis & Partners” Public Accounting Firm or the said Public Accountant Firm
performed a partnership restructuring to become a different Public Accountant Firm.
The following provisions apply to the said delegation of authority:
a. The other Public Accountant Firm appointed by the Board of Commissioners must be one of the Big Four
groups of Public Accounting Firms in Indonesia;
b. The appointment has been recommended by the Audit Committee of the Company;
c. The amount of the honorarium and other terms of appointment for the other Public Accountant Firm must
be determined competitively and fairly; and
d. The appointment of the other Public Accounting Firm should not contradict with the prevailing laws and
regulations.
3. Approved the proposed honorarium of the Public Accounting Firm for the Company’s annual audit in financial
year of 2020 at a maximum of Rp7,800,000,000 (gross – excluding VAT and OPE).
4. Approved the delegation of authority to the Board of Directors of the Company to carry out matters deemed
necessary in connection with the appointment of the Public Accountant and the Public Accounting Firm,
including but not limited to the process of conducting meetings and signing the appointment letter for the
Public Accountant and the Public Accounting Firm.

4th Agenda Changes of Management Composition of the Company.

Voting Calculation Result Agree Disagree Abstain/No Votes*
Jeffrey Kairupan Total Majority Votes: 23,930,810,239 shares or 99.9604% (Agree)
23,930,664,388 shares or 99.9598% 9,473,610 shares or 0.0396% 145,851 shares or 0,0006%
Vera Handajani Total Majority Votes: 2,.937,566,949 shares or 99.9887% (Agree)
Lani Darmawan Total Majority Votes: 23,937,566,949 shares or 99.9887% (Agree)
Pandji P. Djajanegara Total Majority Votes: 23,937,566,949 shares or 99.9887% (Agree)
Fransiska Oei Total Majority Votes: 23,937,566,949 shares or 99.9887% (Agree)
Didi Syafruddin Yahya Total Majority Votes: 23,930,810,239 shares or 99.9604% (Agree)
Glenn M. S. Yusuf Total Majority Votes: 23,930,810,239 shares or 99.9604% (Agree)
Tjioe Mei Tjuen Total Majority Votes: 23,937,566,949 share or 99.9887% (Agree)
Meeting Resolutions 1. Approved the resignation of the followings names:
a. Glenn M. S. Yusuf from his position as Vice President Commissioner of the Company effective on 1
September 2019.
b. RAHARDJA ALIMHAMZAH from his position as Director of the Company effective on 9 April 2020 or from
the closing of the Meeting; and
c. TENGKU DATO’ SRI ZAFRUL TENGKU ABDUL AZIZ from his position as President Commissioner of the
Company effective on 9 March 2020.
2. Approved the reappointment of JEFFREY KAIRUPAN as Independent Commissioner of the Company, with
effective tenure from the closing of this Meeting until the closing of the 4th AGM after the appointment
effective date without prejudice to the right of the GMS to discharge at any time in accordance with the
provisions of Article 119 of the Company Law;
3. Approved the reappointment of VERA HANDAJANI as Director of the Company, with tenure as of the closing
of this Meeting until the closing of the 4th AGM after the appointment effective date without prejudice to the
right of the GMS to discharge at any time in accordance with the provisions of Article 105 of the Company
Law.
4. Approved the reappointment of LANI DARMAWAN as Director of the Company, with tenure as of the closing
of this Meeting until the closing of the 4th AGM after the appointment effective date without prejudice to the
Law.
5. Approved the reappointment of PANDJI P. DJAJANEGARA as Director of the Company, with tenure as of the
closing of this Meeting until the closing of the 4th AGM after the appointment effective date without prejudice
to the right of the GMS to discharge at any time in accordance with the provisions of Article 105 of the
Company Law.
6. Approved the reappointment of FRANSISKA OEI as Director of the Company, with tenure as of the closing of
this Meeting until the closing of the 4th AGM after the appointment effective date without prejudice to the
Law.
7. Terminate with honour DIDI SYAFRUDDIN YAHYA from his position as Commissioner of the Company and at
the same time appoint him as President Commissioner of the Company.
This appointment carries the terms of office starting from obtaining approval from OJK and/or the fulfillment
of the requirements as determined in the approval letter from the OJK (Effective Date) until the closing of the
fourth AGM after the appointment effective date without prejudice to the right of the GMS to discharge at any
time as stipulated in Article 119 of the Company Law.
In the event of OJK does not give such approval, or such requirements as determined by OJK for the
appointment of the person in question is not fulfilled, therefore such appointment becomes null and void
without any GMS approval, as a result of which the person in question shall retain his previous position as
Commissioner of the Company.

8. Approved the appointment of Glenn M. S. Yusuf as Vice President Commissioner (Independent) of the
Company, with effective tenure after obtaining approval from OJK and/or the fulfillment of the requirements
as determined in the approval letter from the OJK (Effective Date) until the closing of the fourth AGM after the
appointment effective date without prejudice to the right of the GMS to discharge at any time as stipulated in
Article 119 of the Company Law.
without any GMS approval.
9. Appointed TJIOE MEI TJUEN as Director of the Company, with effective tenure after obtaining approval from
OJK and/or the fulfillment of the requirements as determined in the approval letter from the OJK (Effective
Date) until the closing of the fourth AGM after the appointment effective date without prejudice to the right
of the GMS to discharge at any time as stipulated in Article 105 of the Company Law. In the event of OJK does
not give such approval, or such requirements as determined by OJK for the appointment of the person in
question is not fulfilled, therefore such appointment becomes null and void without any GMS approval.
Following the above resignation, reappointments and appointments, the composition of the Board of
Commissioners and Board of Directors of the Company is as follows:
President Commissioner : Didi Syafruddin Yahya*
Vice President Commissioner (Independent) : Glenn M. S. Yusuf*
Commissioner : David Richard Thomas
Independent Commissioner : Jeffrey Kairupan
Independent Commissioner : Sri Widowati
BOARD OF DIRECTORS
President Director : Tigor M. Siahaan
Director : Lee Kai Kwong
Director : John Simon
Director : Vera Handajani
Director : Lani Darmawan
Director : Pandji P. Djajanegara
Director, concurrently as Compliance Director : Fransiska Oei
Director : Tjioe Mei Tjuen*
*) Effective upon obtaining OJK approval and/or fulfilled the requirements as determined in the OJK approval.
10. Approved the delegation of authority to the Board of Directors of the Company with substitution rights, to
restate the decisions regarding changes in the composition of members of Board of Commissioners and
Board of Directors of the Company, in a notarial deed and notifying the authorized parties and also to
conduct such necessary actions in accordance with the prevailing laws and regulations.
5th Agenda Determination of the Salary or Honorarium, and other allowances for the Board of Commissioners and the
Sharia Supervisory Board of the Company; and Salary, Allowances and Tantiem/Bonus for the Board of Directors.
Result of Voting Total Majority Votes: 23,940,283,849 share or 100% (Agree)
Calculation
23,940,137,998 share or 99.9994% 0 share or 0% 145,851 share or 0.0006%
Meeting Resolutions 1. Approved and determined the salary or honorarium and other allowances for the Company’s Board of Commissioners
for the financial year of 2020 of a maximum of Rp16,607,850,000 (gross) and delegated the authority to the President
Commissioner to determine the amount of salary or honorarium and other allowances for each member of the
Company’s Board of Commissioners while considering the recommendation of the Nomination and Remuneration
Committee;
2. Approved and determined the salary or honorarium and other allowances for the Company’s SSB for the financial
year of 2020 for a maximum of Rp1,807,666,190 (gross) and delegated the authority to the President Commissioner to
determine the amount of salary or honorarium and other allowances for each member of the Company’s SSB, while
considering the recommendation of the Nomination and Remuneration Committee. Therefore, no members of the
Board of Commissioners (including Independent Commissioners) and SSB received tantiem/bonus;
3. Approved the tantiem/bonus for the financial year of 2019 for a maximum of Rp84,428,008,350 (gross) including
variable remuneration in the form of shares or share-based instruments issued by the Company, and delegated the
authority to the Company’s Board of Commissioners to determine the amount of tantiem/bonus for each member
of the Company’s Board of Directors, while considering the recommendations of the Nomination and Remuneration
Committee.
4. Approved the delegation of authority to the Company’s Board of Commissioners to determine the amount of salary,
holiday allowances and other allowances for the Board of Directors and each member of the Board of Directors
of the Company for the financial year of 2020 after considering the recommendations from the Nomination and
Remuneration Committee.

6th Agenda Approval on the Update of Recovery Plan of the Company.

Result of Voting Total Majority Votes: 23,940,283,849 shares or 100% (Agree)
Calculation
Meeting Resolutions 1. Approved the updates of the Recovery Plan which has been prepared and submitted by the Company to OJK
on 29 November 2019, which includes:
a. Update on the adequacy and feasibility of debt or investment instruments that has capital characteristics
possessed by Systemic Banks through the issuance of the Subordinated Bonds I Phase 1 Bank CIMB Niaga
of 2019; and
b. Update on the trigger level to comply with the prevailing provisions.
2. Approved the delegation of authority to the Board of Commissioners and the Board of Directors of the
Company to perform each and all actions required in connection with the update of the Company’s Recovery
Plan by taking into account the OJK Regulation concerning Recovery Plan for Systemic Bank, as well as other
related regulations.
7th Agenda Approval on Amendments to the Company’s Articles of Association

Results of Voting Total Majority Votes: 23,940,283,849 shares or 100% (Agree)
Calculation
Meeting Resolutions 1. Approved amendments on several articles, namely Article 13, Article 14, Article 15 and Article 17 of the
Company’s Articles of Association;
2. Approved the provision of Power-of-Attorney to the Board of Directors with substitution rights, to reaffirm
the decision to amend the Company’s Articles of Association above, in the notarial deed and to inform the
relevant authorities of said amendments, and in connection with such amendments, to undertake whatever
is required pursuant to the prevailing laws and regulations.
8th Agenda Others:

1. Accountability Report on the Fund Utilization of the Results of Shelf Registration Sukuk Mudharabah I of Bank CIMB
Niaga Phase II Year 2019, Shelf Registration Bond III of Bank CIMB Niaga Phase I Year 2019, and Subordinated Bonds I
of Bank CIMB Niaga Phase I Year 2019;
2. Report of the Sustainable Finance Action Plan (RAKB) of the Company;
3. Report on End of Tenure and Appointment/Reappointment of Audit Committee Members of the Company.
Meeting Resolutions Others:
1. In accordance with POJK No. 30/POJK.04/2015, and the report has been submitted to OJK Capital Market through
letter No. 001/DIR/I/2020 dated 8 January 2020, in the Meeting was reported the accountability of the use of the
proceeds from the Public Offering as of 31 December 2019, whereas the funds obtained respectively from each
of:
- Shelf Registration Sukuk Mudharabah I of Bank CIMB Niaga Phase II Year 2019 in the amount of
Rp1,992,179,036,300 (net);
- Shelf Registration Bond III of Bank CIMB Niaga Phase I Year 2019 in the amount of Rp1,813,966,957,805 (net);
and
- Subordinated Bond I of Bank CIMB Niaga Phase I Year 2019 in the amount of Rp76,930,082,805 (net);
have all been used in accordance with the plan to use the proceeds as disclosed in respective Prospectus.
2. In accordance with POJK No. 51/POJK.03/2017, in the Meeting was reported that the 2020 Sustainable Finance
Action Plan (RAKB) of the Company has been submitted to the OJK Banking Supervisory on 27 November 2019.
The 2020 RAKB consist of the realization of 2020 RAKB and action plans that will be conducted by the Company
in 2020, comprising of (i) development of sustainable products and/or portfolio,, (ii) capacity building program,
(iii) internal adjustments, and (iv) sustainable Corporate Social Responsibility programs.
3. a. With regard to the Audit Committee Charter of the Company, recommendations of the Nomination and
Remuneration Committee of the Company No. 004/NOMREM/KP/III/2020 dated 9 March 2020, and the
end of tenures of several members of the Company’s Audit Committee as of the closing of Meeting, it was
announced to the Meeting the reappointment of a member and the appointment a new member to the
Company’s Audit Committee, as follows:
i. Reappointment of a member of Audit Committee, namely JEFFREY KAIRUPAN, as Chairman and
concurrently as Member;
ii. Appointment of a new member of Audit Committee, namely ENDANG KUSSULANJARI S., as Member.
On 8 April 2020, the Company accepted the resignation of YAP TJAY SOEN as Member of the Audit Committee,
which was reported and accepted by the Board of Commissioners at Board of Commissioners meeting on 9
April 2020.

8th Agenda Others:

1. Accountability Report on the Fund Utilization of the Results of Shelf Registration Sukuk Mudharabah I of Bank CIMB
Niaga Phase II Year 2019, Shelf Registration Bond III of Bank CIMB Niaga Phase I Year 2019, and Subordinated Bonds I
of Bank CIMB Niaga Phase I Year 2019;
2. Report of the Sustainable Finance Action Plan (RAKB) of the Company;
3. Report on End of Tenure and Appointment/Reappointment of Audit Committee Members of the Company.
Meeting Resolutions b. With the reappointment of a Member and appointment of a new Member as well as the resignation of YAP
TJAY SOEN as Member of the Audit Committee, the composition of the Audit Committee was as follows:
i. JEFFREY KAIRUPAN, as Chairman and concurrently as Member;
ii. ENDANG KUSSULANJARI S., as Member.
c. All members of the Audit Committee have effective tenure period since the closing of the Meeting until the
closing of the 4th AGM after the appointment effective date of the member reappointment and new member
appointment without prejudice to the right of the Board of Commissioners to discharge at any time.
Pursuant to Article 13 Item 13.4 of the Company’s Articles of Association: “The shareholders with legal voting rights who are present in the GMS but voted abstain, are
*)
considered to vote the same as the majority votes of voting shareholders with the provision that said abstaining shareholders must follow and honour the resolution
of the GMS.”
EGM 25 SEPTEMBER 2020

In 2020, CIMB Niaga held an EGM on 25 September 2020, pursuant to Regulation of OJK No. 15 and 16/POJK.04/2020,
as follows:
THE PROCESS OF EGM 25 SEPTEMBER 2020
Date & Time 25 September 2020 from 14:35 - 14:50 GMT +7

Location Graha CIMB Niaga – Fl. 15, Fl. 14 and Fl. M.
Jl. Jend. Sudirman Kav. 58
Quorum The EGM (Meeting) was attended by shareholders and representatives/proxies representing
23,930,132,872 shares or approximately 95.22% of the total shares issued by the Bank (not
included Treasury shares).
Accordingly, the quorum (i.e. more than ½ of the total shares issued and fully paid by the
Company with legal voting right) have been fulfilled and the Meeting is entitled to make
legitimate and binding decisions regarding matters discussed according to the Meeting
agenda.
EGM Chairman Sri Widowati as the Independent Commissioner.
Board of Commissioners, including the Didi Syafruddin Yahya as the President Commissioner together with all members of the Board
President Commissioner in attendance of Commissioner were attended, whether in person or via video conference.
Board of Directors, including the Tigor M. Siahaan as the President Director together with all members of the Board of Directors
President Director in attendance were attended, whether in person or via video conference.
Sharia Supervisory Board (SSB) in Prof. Dr. M. Quraish Shihab, MA as Chairman together with all members of SSB were attended
attendance via video conference.
Audit Committee, including the Chairman Jeffrey Kairupan as Chairman and Endang Kussulanjari S. as Member were attended via video
of the committee in attendance conference.
Chairman of Nomination and Sri Widowati as Chairman was attended.
Remuneration Committee in attendance
Chairman of Risk Oversight Committee in Jeffrey Kairupan as Chairman was attended via video conference.
attendance
Chairman of Integrated Governance Sri Widowati as Chairman was attended.
Committee in attendance
Number of shareholders who raised All shareholders were given the opportunity to raise questions and/or opinions on each
questions and/or opinions agenda of the EGM. However, none of the shareholders raised any question or opinion.

IMPLEMENTATION STAGES OF THE EGM ON 25 SEPTEMBER 2020
Date of
No Activity Explanation
Implementation
1 Notification of EGM to 5 August 2020 Submitted to OJK, IDX, and PT Kustodian Sentral Efek Indonesia (KSEI)
Regulator within 5 (five) working days before the EGM Announcement.
2 Announcement of EGM 12 August 2020 1. Conducted within 14 (fourteen) days prior to the invitation of
the EGM, not including the date of the GMS announcement and
invitation.
2. Announced in Bahasa Indonesia and English in:
a. Newspaper “Investor Daily” and “The Jakarta Post”;
b. Websites of the Bank, IDX, and KSEI via eASY.KSEI application (KSEI
website).
3. Proof of announcement submitted to OJK and BEI on the same day
(hardcopy and e-reporting via SPE-OJK & IDXNet).
3 Recording Date of List of 26 September 2020 Recorded 1 (one) working day prior to the EGM Invitation.
Shareholders entitled to attend the
EGM
4 Invitation with explanation of 27 August 2020 1. Conducted within 28 (twenty-eight) days prior to the EGM
agenda of EGM implementation not including the date of EGM Invitation and date of
EGM.
2. Announced in Bahasa Indonesia and English in:
a. Newspaper “Investor Daily” and “The Jakarta Post”;
b. Websites of the Bank, IDX and KSEI;
3. Proof of announcement submitted to OJK and IDX on the same day
(hardcopy and e-reporting via SPE-OJK & IDXNet).
5 EGM 25 September 2020 Pursuant to the health protocols of COVID-19, the EGM was convened
physically from three separate rooms that are interconnected via video
conference (including with those that were not present physically)
enabling all EGM participants to see, hear and follow the proceedings
in real time and participated actively in the EGM, in addition to which an
alternative is provided for proxy voting by electronic means (e-proxy)
through the eASY.KSEI application.
6 Summary of Minutes (Resolutions) 25 September 2020 The publication of resume of the EGM (notarial) contain the voting
of the EGM results of each agenda was uploaded in Bahasa Indonesia and English
on the Bank’s website on the same day with the EGM.
29 September 2020 1. Summary of the Minutes (Resolutions) of the EGM was published
within 2 (two) working days after the EGS, in Bahasa Indonesia and
English in:
a. Newspaper “Investor Daily” and “The Jakarta Post”; and
b. Websites of the Bank and IDX.
2. Proofs of the publications were submitted to OJK and IDX on the
same day (hardcopy dan e-reporting via SPE-OJK & IDXNet).
7 Deed of Minutes of the EGM 19 October 2020 Deed of EGM Minutes submitted to OJK within 16 (sixteen) working days
after the EGM (hardcopy and e-reporting via SPE-OJK & IDXNet).
ONLINE VOTING AND ELECTRONIC VOTE CALCULATION Voting was carried out on the EGM agenda, i.e. the
MECHANISM (E-VOTING) proposed appointment of candidate for member of
The EGM decision-making is made by deliberations Board of Commissioners.
for consensus. If consensus is not reached, then the
decision-making in the EGM is conducted through voting. Disclosures on the procedures of voting and its tally in
Voting is conducted by the shareholders or their proxies the EGM have been stated clearly in the Protocols of
directly in confidentiality, individual (individual voting) Meeting that was publicized/uploaded on the Bank’s
and electronic (e-voting) through the electronic means website together with the Invitation to the EGM, and
(e-voting) using a Smartphone or other Mobile Devices was read by the Corporate Secretary before the start
(tablets and others), as well via Touch Screen Monitor of Meeting. In addition to the Protocols of Meeting, the
provided by the Bank, such that the confidentiality and voting procedures were also uploaded onto the website
independency of Shareholder’s votes are secured. in the form of an illustrated video.

INDEPENDENT PARTY TO CALCULATE VOTES RESOLUTIONS OF THE EGM 25 SEPTEMBER 2020

At the EGM on 25 September 2020, CIMB Niaga has All resolutions have been adopted in : (i) Deed No. 32
appointed independent parties, namely Notary Ashoya dated 25 September 2020 made by and before the
Ratam, S.H., MKn., as the Public Notary and PT Bima Notary Ashoya Ratam S.H., MKn., Notary in South Jakarta
Registra as the Share Registrar Bureau in calculating and/ (Notary), and (ii) Deed No. 33 dated 25 September 2020
or validating quorum as well as the voting in the EGM. which was made before the Notary, with details of the
agenda and their resolutions as follows:
Agenda Change in the Composition of Board of Commissioners of the Company

Result of Voting Total Majority Votes: 23,921,953,962 shares or 99.9658% (Agree)
Calculation
Agree Disagree Abstain/No Votes**
23,921,953,962 shares or 99.9658% 8,178,910 shares or 0.0342% 0 shares or 0%
Meeting Resolutions 1. Appointed DATO’ ABDUL RAHMAN AHMAD as Company’s Commissioner, with the term of office effective
starting from the closing of the Meeting and after obtaining approval from OJK and/or the fulfillment of the
requirements as determined in the approval letter from OJK (Effective Date) until the closing of the fourth
AGM after the appointment effective date without prejudice to the right of the GMS to discharge at any time
as stipulated in Article 119 of the Company Law.
without any GMS approval.
Following the above appointment, composition of the Company’s Board of Commissioners is as follows:
President Commissioner : Didi Syafruddin Yahya
Vice President Commissioner (Independent) : Glenn M. S. Yusuf
Independent Commissioner : Sri Widowati
Commissioner : Dato’ Abdul Rahman Ahmad*
*)
Effective after obtaining approval from OJK and/or the fulfillment of the requirements as determined in the approval letter from the OJK.
restate the decisions regarding changes in the composition of members of Board of Commissioners of the
Company, in a notarial deed and notifying the authorized parties and also to conduct such necessary actions
in accordance with the prevailing laws and regulations.
Pursuant to Article 13 Item 13.4 of the Company’s Articles of Association: “The shareholders with legal voting rights who are present in the GMS but voted abstain, are
**)
considered to vote the same as the majority votes of voting shareholders with the provision that said abstaining shareholders must follow and honour the resolution
of the GMS.”
RESOLUTIONS AND REALIZATIONS OF THE RESOLUTIONS OF AGM 15 APRIL 2019

RESULTS OF THE PREVIOUS YEAR GMS All resolutions have been adopted in: (i) Deed No. 24 dated
In 2019, CIMB Niaga held an AGM on 15 April 2019. 15 April 2019 made by and before the Notary Ashoya
The resolutions of the GMS were reported to OJK and Ratam S.H., MKn., Notary in South Jakarta (Notary), and
announced on the Company’s website (www.cimbniaga. (ii) Deed No. 25 dated 15 April 2019 which was made
co.id), the IDX website (www. idx.co.id) and published in before the Notary, and had received notification from
Bisnis Indonesia and The Jakarta Post on the same day. the Minister of Law and Human Rights of the Republic
The following summarises the resolutions of the AGM in of Indonesia (Menkumham) based on Letter No. AHU-
2019 with information on follow-up actions taken by the AH.01.03-0221467 dated 26 April 2019. Details of the
Bank. resolutions of the AGM 15 April 2019, as follows:

1st Agenda Approval of the Company’s Annual Report, and ratification of the Company’s Consolidated Financial Statements
for the Financial Year ended on 31 December 2018.
Result of Voting Total Majority & Agree Votes= 23,908,685,424 shares or 100%
Calculation
23,900,673,479 share or 99.9665% 0 share or 0% 8,011,945 share or 0.0335%%
Meeting Resolutions 1. Approved the Company’s Annual Report for the financial year ended on 31 December 2018;
2. Ratified the Company’s Consolidated Annual Financial Statements for the financial year ended on 31
December 2018 as audited by the Public Accounting Firm Tanudiredja, Wibisana, Rintis & Rekan (member
firm of PricewaterhouseCoopers Global in Indonesia) as stipulated in the report dated 15 February 2019 with
the opinion “the accompanying Consolidated Financial Statements presented fairly, in all material respects,
the consolidated financial position of PT Bank CIMB Niaga Tbk and its subsidiaries as of 31 December 2018,
and their consolidated financial performance and cash flows for the year ended on that date, in accordance
with Indonesian Financial Accounting Standards”.
3. Ratified the annual Supervisory Reports by the Board of Commissioners and the Shariah Supervisory Board
(SSB) for the financial year ended on 31 December 2018.
4. Granted full release and discharge (volledig acquit et décharge) to the members of the Board of Directors and
the Board of Commissioners as well as the SSB of the Bank for their management and supervision performed
in financial year of 2018 (including the members of the Board of Directors and the Board of Commissioners
who have resigned as resolved in a Extraordinary General Shareholders Meeting (EGMS) on 19 December
2018), provided that the management and supervision are reflected in the Company’s Annual Report for the
financial year ended on 31 December 2018.
2nd Agenda Determination on the Use of the Company’s Profits for the Financial Year ended on 31 December 2018.
Calculation
23,904,021,812 shares or 99.9805% 0 share or 0% 4,663,612 shares or 0.0195%
Meeting Resolutions Approved the appropriation of the Company’s Net Profit (consolidated) for the financial year of 2018 in the total
amount of Rp3,482,427,920,767, with the following descriptions:
1. Distribution of cash dividends to a maximum of 20% of the Company’s net profit, or amounted maximum up
to Rp669,485,584,153 (gross), with the following schedule:
a. Cum Dividend in the Regular and Negotiation Market on 25 April 2019
b. Ex Dividend in the Regular and Negotiation Market on 26 April 2019
c. Cum Dividend in the Cash Market on 29 April 2019
d. Recording date for entitled shareholders on 29 April 2019
e. Ex Dividend in the Cash Market on 30 April 2019
f. Dividend Payment for Financial Year of 2018 on 15 May 2019
and delegated of authority to the Board of Directors to determine the procedure for distributing the cash
dividends by taking into account applicable capital market sector regulations.
2. The Company does not set aside statutory reserve from net profit of the financial year of 2018, since the
Company has fulfilled the minimum mandatory statutory reserve amount in accordance with Article 70 of
Law No. 40 of 2007 concerning Limited Liability Companies (Company Law).
3. Booked the remaining net profit for financial year of 2018, after deducting the distribution of dividends, as
retained earnings to finance the Company’s business activities.
3rd Agenda Appointment of the Company’s Public Accountant and Public Accounting Firm for the Financial Year of 2019
ended on 31 December 2019
Calculation
23,904,022,012 shares or 99.9805% 0 share or 0% 4,663,412 shares or 0.0195%
Meeting Resolutions 1. Approved the reappointment of Angelique Dewi Daryanto, SE., CPA, as Public Accountant, and the Public Accounting
Firm Tanudiredja, Wibisana, Rintis & Rekan (a member of the PricewaterhouseCoopers Global in Indonesia), respectively
as Public Accountant and Public Accounting Firm registered in OJK, or other Public Accountant from the same Public
Accounting Firm in the absence of the respective person to conduct audit of the Company’s Financial Statements for
financial year of 2019.
2. Delegation of authority to the Board of Commissioners of the Company to appoint another Public Accountant and
Public Accounting Firm, if there is an objection from OJK over the appointment of “Tanudiredja, Wibisana, Rintis &
Partners” Public Accounting Firm or the said Public Accountant Firm performed a partnership restructuring to become
a different Public Accountant Firm.

Meeting Resolutions The following provisions apply to the said delegation of authority:
a. The other Public Accountant Firm appointed by the Board of Commissioners must be one of the Big Four groups of
Public Accounting Firms in Indonesia;
b. The appointment has received recommendation from the Audit Committee of the Company;
c. The amount of the honorarium and other terms of appointment for the other Public Accountant Firm must be
determined competitively and fairly; and
d. The appointment of the other Public Accounting Firm should not contradict with the prevailing laws and regulations.
3. Approved the proposed honorarium of the Public Accounting Firm for the Company’s annual audit in financial year of
2019 at a maximum of Rp7,500,000,000 (gross).
4. Delegation of authority to the Board of Directors of the Company to carry out matters deemed necessary in connection
with the appointment of the Public Accountant and the Public Accounting Firm, including but not limited to the process
of conducting meetings and signing the appointment letter for the Public Accountant and the Public Accounting Firm.
4th Agenda Changes of Management Composition of the Company

Result of Voting
Calculation
Didi Syafruddin Yahya Total Majority & Agree Votes = 23,895,830,224 shares or 99.9462%
23,891,166,812 shares or 99.9267% 12,855,200 shares or 0.0538% 4,663,412 shares or 0.0195%
Sri Widowati Total Majority & Agree Votes = 23,895,830,224 shares or 99.9462%
Prof. Dr. M. Quraish Total Majority & Agree Votes = 23,895,830,224 shares or 99.9462%
Shihab, MA
Prof. Dr. Fathurrahman Total Majority & Agree Votes = 23,895,830,224 shares or 99.9462%
Djamil, MA
Dr. Yulizar D. Sanrego M.Ec Total Majority & Agree Votes = 23,895,830,224 shares or 99.9462%
Tigor M. Siahaan Total Majority & Agree Votes = 23,895,830,224 shares or 99.9462%
Meeting Resolutions 1. Approved the appointment of Didi Syafruddin Yahya as Commissioner, and Sri Widowati as Independent
Commissioner, with effective tenure after obtaining approval from OJK and/or the fulfillment of the requirements
as determined in the approval letter from the OJK (Effective Date) until the closing of the fourth AGM after the
appointment effective date without prejudice to the right of the GMS to discharge at any time as stipulated on Article
119 of the Company Law.
In the event of OJK does not give such approval, or such requirements as determined by OJK for the appointment of
the person in question is not fulfilled, therefore such appointment becomes null and void without any GMS approval.
Following the above appointments, the composition of the Board of Commissioners of the Company is as follows:
President Commissioner : Tengku Dato’ Sri Zafrul Tengku Abdul Aziz

Vice President Commissioner : Glenn M. S. Yusuf
Independent Commissioner : Zulkifli M. Ali
Independent Commissioner : Pri Notowidigdo
Commissioner : Didi Syafruddin Yahya*
Independent Commissioner : Sri Widowati*
*)
Effective after obtaining approval from OJK and/or the fulfillment of the requirements as determined in the approval letter from the OJK.
2. Approved the reappointment of all Syariah Supervisory Board (SSB) members namely Prof. Dr. M. Quraish
Shihab, MA as the Chairman, Prof. Dr. Fathurrahman Djamil, MA as a Member, and Dr. Yulizar D. Sanrego,
M.Ec as a Member, effective from the closing of this Meeting until the closing of the fourth AGM without
prejudice to the right of the GMS to discharge at any time in accordance with the rules and regulations.
Therefore, the composition of the SSB of the Company is remain the same.
3. Approved the reappointment of Tigor M. Siahaan as President Director effective since the closing of this
Meeting until the closing of the fourth AGM after the appointment effective date without prejudice to the right
of the GMS to discharge at any time in accordance with the provisions of Article 105 of the Company Law.
Therefore, the composition of the Board of Directors of the Company is remain the same.
restate the decisions regarding changes in the composition of members of Board of Commissioners of the
Company, the reappointment of all members of the SSB of the Company and the reappointment of Tigor M.
Siahaan as the President Director of the Company in a notarial deed and notifying to the authorized parties
and also in conduct such necessary actions in accordance with the prevailing laws and regulations.

5th Agenda Determination on the Salary or Honorarium, Tantiem/Bonus, and other allowances for the Board of
Commissioners, the Board of Directors and the Sharia Supervisory Board of the Company.
Result of Voting Total Majority & Agree Votes = 23,908,685,224 shares or 99.9999%
Calculation
23,904,021,612 shares or 99.9805% 200 shares or 0,0000% 4,663,612 shares or 0.0195%
Meeting Resolutions 1. Approved and determined the salary or honorarium and other allowances for the Company’s Board of
Commissioners for the financial year of 2019 a maximum of Rp20,395,087,249 (gross) and delegated the
authority to the President Commissioner to determine the amount of salary or honorarium and other
allowances for each member of the Company’s Board of Commissioners.
2. Approved and determined the salary or honorarium and other allowances for the Company’s SSB for the
financial year of 2019 a maximum of Rp1,763,666,795 (gross) and delegated the authority to the President
Commissioner to determine the amount of salary or honorarium and other allowances for each member
of the Company’s SSB. Therefore, no members of the Board of Commissioners (including Independent
Commissioners) and SSB received tantiem/bonus.
3. Approved the tantiem/bonus to the Board of Directors for the financial year of 2018 a maximum of
Rp94,447,500,000 (gross) including variable remuneration in the form of shares or share-based instruments
issued by the Company, and delegated the authority to the Company’s Board of Commissioners to determine
the amount of tantiem/bonus for each member of the Company’s Board of Directors.
4. Approved the delegation of authority to the Company’s Board of Commissioners to determine the amount
of salary, holiday allowances and other allowances for the Board of Directors and each member of the Board
of Directors of the Company for the financial year of 2019 after considering recommendations from the
Nomination and Remuneration Committee of the Company.
6th Agenda Approval of Updates on the Company’s Recovery Plan.

Result of Voting Total Majority & Agree Votes = 23,908,685,424 shares or 100%
Calculation
23,904,021,812 shares or 99.9805% 0 share or 0% 4,663,612 shares or 0.0195% 0%
Meeting Resolutions 1. Approved the updates of the Recovery Plan which has been prepared and submitted by the Company to OJK
on 28 November 2018, which includes:
a. Update on the trigger level to comply with the prevailing provisions; and
b. Update on the adequacy and feasibility of debt or investment instruments that has capital characteristics
possessed by Systemic Banks through the issuance of the Subordinated Bonds III Bank CIMB Niaga of
2018.
2. Approved the delegation of authority to the Board of Commissioners and the Board of Directors of the
Company to perform each and all actions required in connection with the update of the Company’s Recovery
Plan by taking into account the OJK Regulation concerning Recovery Plan for Systemic Bank.
7th Agenda Approval of the Company’s Share Buyback

Result of Voting Total Majority & Agree Votes = 23,908,685,424 shares or 100%
Calculation
Agree Disagree Abstain/No Votes *
23,904,021,812 shares or 99.9805% % 4,663,612 shares or 0.0195% 0 share or 0%
Meeting Resolutions 1. Approved the Share Buyback plan from the public shareholders, at the maximum of 20,000,000 shares
with the maximum cost of Rp25,000,000,000 (including transaction costs and tax) with due regard to the
prevailing regulations. The Share Buy Back Plan has obtained the OJK approval through the OJK letter No.
S-19/PB.33/2019 dated 25 March 2019, and will be completed no later than 18 months after the resolution of
this Meeting.
The purpose of the Share Buyback of the Company proceeds is to fulfill POJK No. 45/POJK.03/2015, particularly
to the provision of variable remuneration in the form of shares or share-based instruments issued by the
Company to parties categorized as Material Risk Takers (MRT) of the Company for the period of 3 (three) years
which will be paid in 2019, 2020 and 2021.
2. Approved the delegation of authority to the Company’s Board of Directors to conduct the Share Buyback in
accordance with prevailing regulations.

8th Agenda Others:

1. Accountability Report on the Use of Proceeds from the Public Offering of the Shelf-Registration Bond II Bank
CIMB Niaga Phase IV Year 2018; Shelf-Registration Sukuk Mudharabah Bank CIMB Niaga I Phase I Year 2018;
and Subordinated Bond III Bank CIMB Niaga Year 2018.
2. Sustainable Finance Action Plan Report.
3. Report on Amendment to Indonesian Stock Exchange Regulation No. I-A specifically related to the position of
Independent Director.
Meeting Resolutions Others:
1. According to POJK No. 30/POJK.04/2015, and reported to OJK Capital Market through letter No. 003/DIR/I/2019
dated 10 January 2019 with a copy to IDX and the OJK Banking Supervisory, in the Meeting was reported the
accountability of the use of the proceeds from the Public Offering as of 31 December 2018, whereas the funds
obtained respectively from each of:
a. Shelf-Registration Bond II Bank CIMB Niaga Phase IV Year 2018 in the amount of Rp1,016,523,355,000
(nett);
b. Shelf-Registration Sukuk Mudharabah I Bank CIMB Niaga Phase I Year 2018 in the amount of
Rp993,366,142,421 (net); and
c. Subordinated Bond III Bank CIMB Niaga Year 2018 in the amount of Rp144,480,674,465 (net).
Have all been used in accordance with the plan to use the proceeds as disclosed in respective Prospectus.
2. In accordance with POJK No. 51/POJK.03/2017, in the Meeting was reported regarding Sustainability Finance
Action Plan of the Company Year 2019 – 2023 which has been submitted to the OJK Banking Supervisory on 27
November 2018. The Sustainability Finance Action Plan consist of the short-term (1 (one) year) and the long-
term (5 (five) years) activity plan for the Company’s priorities in implementing Sustainability Finance, while still
taking into account the fulfillment of prudential principles and the implementation of risk management.
3. Following the issuance of Amendment to IDX Regulation Number I-A through the Decision Letter of the BOD of
IDX No. Kep-00183/BEI/12-2018, specifically related to the non-regulation or an Independent Director position
in a Listed Company, in the Meeting was reported the deletion of position title of the Company’s Independent
Director. Therefore, the title as Independent Director for Fransiska Oei, the Compliance Director and
concurrently as the Independent Director as reported at the AGM on 25 April 2017, will be effectively removed
since the closing of this Meeting. However, it shall be reemphasized that all members of the Company’s Board
of Directors are independent from the controlling shareholders, not having any family relationship up to the
second degree with fellow members of the Board of Directors and/or members the Board of Commissioners,
do not held any concurrent positions as members of Board of Directors, as members of other Board of
Commissioners, or as Executive Officers in the Company, or other companies and/or institutions other than
performing functional tasks in non-bank subsidiary companies controlled by the Company, and also do not
become an insider in any capital market supporting institutions or professionals whose services are used by
the Company.
In accordance with the provisions of Article 13 paragraph 13.4 of the Company’s Articles of Association: “ Shareholders of shares with valid voting rights present at the
*)
GMS who are abstain (not voting) shall be deemed to cast the same vote as the majority of the voting, with condition that such shareholders are obliged to abide and
respect to the decisions taken for the relevant agenda of the GMS”.

The Board of Commissioners is a Governance organ The basis for preparing the Board of Commissioners
that has the duties and responsibilities to supervise Charter:
the policies of the management of the Bank in general 1. Law No. 40 of 2007 on the Limited Liability Company;
according to the Articles of Association. The Board of 2. OJK Regulations and OJK Circular Letters on
Commissioners also assures that the Bank conducts its implementation and organisation of Corporate
business in accordance with the established objectives, Governance;
provides advice to the Board of Directors, and ensures 3. Bank’s Articles of Association;
that the Bank implements the principles of Good 4. GCG General Guidelines in Indonesia from the National
Corporate Governance (GCG) at every level of the Committee on Governance Policy (KNKG); and
organization. 5. The ASEAN Corporate Governance Scorecard.
The Board of Commissioners is also responsible On 14 October 2019, the Board of Commissioners Charter
for overseeing several policies with regards to Bank was updated and uploaded onto the Bank’s website
operations in general that relate to the implementation of (www.cimbniaga.co.id). The Board of Commissioners
the business strategy and plan that have been approved Charter sets forth the following matters:
by the Board of Commissioners, and for ensuring 1. Accountability;
compliance with all prevailing laws and regulations. 2. Structure and membership;
In fulfilling its duties and responsibilities, the Board of 3. Requirements and Appointment;
Commissioners must act independently. 4. Duties and Responsibilities;
5. Conflict of Interest;
LEGAL BASIS 6. Transparency;
The legal basis for the establishment and the appointment 7. Work Ethics and Working Hours;
of the Board of Commissioners of CIMB Niaga is pursuant 8. Meetings;
to several regulations, including: 9. Term of office;
1. The Laws of the Republic of Indonesia on the Limited 10. Resignation; and
Liability Company and Banking; 11. Performance Assessment and Accountability.
2. OJK Regulation, OJK Circular Letter, Bank Indonesia
(BI) Regulations, and BI Circular Letter on the MECHANISM OF NOMINATION,
implementation and organisation of Corporate APPOINTMENT, DISMISSAL, REPLACEMENT
Governance; AND/OR RESIGNATION OF MEMBERS OF THE
3. Bank’s Article of Association; and BOARD OF COMMISSIONERS
4. Deed of Shareholders General Meeting Resolution The Bank has and implements the Policy and Procedure
No. 95 dated 27 November 2019 as notified to the for the Nomination, Appointment, Replacement and/or
Minister of Law and Human Rights of the Republic Dismissal of Members of the Board of Commissioners,
of Indonesia (Menkumham RI) through Notification the Board of Directors and Independent Parties as
Receipt Letter No. AHU-AH.01.03-0370172 on 9 Members of Committees Responsible to the Board of
December 2019. Commissioners No. M.04.
BOARD OF COMMISSIONERS’ CHARTER This policy aims to ensure that the implementation of
In discharging its duties and responsibilities, the Board corporate governance and risk management is carried
of Commissioners refers to the Board of Commissioners out well. The policy also serves as a guideline in the
Charter that is regularly evaluated and updated to process of selection, replacement and/or dismissal the
conform to all prevailing rules and regulations in members of the Board of Commissioners, Board of
Indonesia. The Charter contains the binding guidelines Directors and Independent Parties that regulates the
and procedures for each member of the Board of followings:
Commissioners, enabling the Board of Commissioners
to perform its oversight function in efficiently, effectively, 1. Criteria for Members of the Board of Commissioners
transparently, independently and accountably. Candidates for the member of the Board of
Commissioners of CIMB Niaga must at least meet
the integrity, competence and good reputation
requirements, as stipulated in prevailing laws and
regulations.

2. Procedure on the Nomination of Member of the written notification regarding their intention
Board of Commissioners are as follows: to the Bank no later than 90 (ninety) days or 3
a. The Bank can utilize the services of independent (three) months prior to the effective resignation.
and reputable search firms in the selection In the event that written notification is submitted
process for candidates as member of the Board less than 90 (ninety) days or 3 (three) months,
of Commissioners. the effective date of the resignation must be
The appointed third party (search firms) will assist approved by the Board of Commissioners.
in the selection process, including: d. When the position of a member of the Board of
i. Identifying candidates who meet the Commissioners is vacant due to any reason that
requirements; causes the number of the Board of Commissioners
ii. Conducting interviews and selection of to be less than 3 (three), then a GMS must be held
candidates (including conducting background no later than 60 (sixty) calendar days after the
and references checks); vacancy date to fill the vacancy with due regard to
iii. Acting as a liaison between the Board the prevailing laws and regulation.
of Commissioners, the Nomination and e. In the event the position of President
Remuneration Committee, and the candidates Commissioner is vacant and as long as a
during the selection and evaluation process; successor has not been appointed or has not
and assumed their position, then one of the Board of
iv. Providing consultations needed by the Commissioners members, appointed by a Board
Nomination and Remuneration Committee. of Commissioners’ Meeting will carry out the
b. Members of the Board of Directors, the Board of President Commissioner’s obligations, with the
Commissioners and/or the Bank’s Shareholders same authority and responsibility as the President
may propose candidates as members of the Board Commissioner.
of Commissioners to the Bank. The Shareholders
who may propose candidates as members of the STRUCTURE, NUMBER, AND COMPOSITION OF
Board of Commissioners will be 1 (one) or more THE BOARD OF COMMISSIONERS IN 2020
shareholders representing 1/20 (one twentieth) The structure and composition of CIMB Niaga’s Board of
or more of the total shares with voting rights. Commissioners have met all prevailing regulations, as
stipulated in the Board of Commissioners’ Charter, which
3. Appointment Procedures of the Board of include:
Commissioners’ Members are as follows: 1. The total number of CIMB Niaga’s Board of
Appointment of the Board of Commissioners’ Commissioners members is at least 3 (three) persons,
members must obtain GMS approval and have and at most is the same as that of the Board of
passed the Fit and Proper Test in accordance with Directors.
OJK regulations concerning the Fit and Proper 2. The Board of Commissioners of CIMB Niaga is led by
Test, and those concerning the Implementation of a President Commissioner.
Governance for Commercial Banks, as well as meet 3. One or more member may be appointed as Vice
other requirements set by other relevant authorities President Commissioner.
before being effectively declared as a Commissioner. 4. At least 1 (one) member of the Board of Commissioners
must be domiciled in Indonesia, CIMB Niaga has 3
4. Procedure for dismissal, replacement and/ (three) members of the Board of Commissioners
or resignation of the members of the Board of domiciled in Indonesia.
Commissioners 5. 3 (three) out of 6 (six) people or 50% (fifty percent)
a. Proposal of dismissal and/or replacement of of the members of the Board of Commissioners are
the Board of Commissioners’ members shall Independent Commissioners.
be submitted to the GMS and shall observe the 6. 4 (four) out of 6 (six) people or more than 50%
recommendations from the Bank’s Nomination (fifty percent) of the members of the Board of
and Remuneration Committee. Commissioners are Indonesian nationals.
b. Members of the Board of Commissioners may be 7. The replacement and/or appointment of members of
dismissed at any time based on the resolution of the CIMB Niaga’s Board of Commissioners has taken
the GMS by stating the reasons. into account the recommendation from Nomination
c. Members of the Board of Commissioners have and Remuneration Committee and has obtained
the right to resign from their positions by giving approval from the GMS and OJK.

8. All members of the CIMB Niaga’s Board of 2. 50% (fifty percent) of the members of Board of
Commissioners have no family relationship up to the Commissioners are Independent Commissioners,
second degree with fellow members of the Board of namely 3 (three) Independent Commissioners out of a
Commissioners and/or the Board of Directors and total of 6 (six) members of the Board of Commissioners.
the Controlling Shareholders. 3. In terms of expertise, the majority of members of the
9. All members of the Bank’s Board of Commissioners Board of Commissioners have a working experience
have passed the Fit and Proper Test, except for 1 in banking.
(one) person, namely Dato’ Abdul Rahmad Ahmad 4. Appointment of one of the Independent
who still awaits the approval of OJK. Commissioners as Senior Independent Commissioner,
namely Jeffrey Kairupan.
Pursuant to the principles of the ASEAN Corporate
Governance Scorecard, the composition of the Board of In 2020, the number and composition of the Board of
Commissioners also includes: Commissioners of CIMB Niaga changed pursuant to the
1. 1 (one) female member of the Board of Commissioners resolution of the AGM on 9 April 2020 and EGMS on 25
is an Independent Commissioner, namely Sri Widowati. September 2020.
COMPOSITION OF THE BOARD OF COMMISSIONERS IN 2020
No Name Position Term of Office

1. Tengku Dato’ Sri Zafrul Tengku Abdul Aziz *
President Commissioner 2018 - 2022
2. Didi Syafruddin Yahya** President Commissioner 2020 - 2023
3. Glenn M. S. Yusuf*** Vice President Commissioner 2020 - 2024
(Independent)
4. Jeffrey Kairupan Senior Independent Commissioner**** 2020 - 2024
5. Sri Widowati Independent Commissioner 2019 - 2023
6. Dato’ Abdul Rahman Ahmad***** Commissioner 2020 - 2024
7. David Richard Thomas Commissioner 2018 - 2022
8. Zulkifli M. Ali****** Independent Commissioner 2016 - 2020
9. Pri Notowidigdo****** Independent Commissioner 2016 - 2020
*)
Resigned as President Commissioner effective as of 9 March 2020
**)
***)
Appointed as Vice President Commissioner (Independent) in the AGM on 9 April 2020 and effective as of 16 September 2020.
****)
Appointed as Senior Independent Commissioner through the Circular Resolution of the Board of Commissioners of CIMB Niaga No. 014/DEKOM/KP/VI/2019 dated
28 June 2019.
*****)
Appointed as Commissioner in the EGM on 25 September 2020 and effective upon obtaining OJK approval and/or fulfilled the requirements as determined in the
OJK approval.
******)
Term of office as Independent Commissioner ended as of the closing of AGM on 9 April 2020.
TERM OF OFFICE OF THE BOARD OF COMMISSIONERS

1. The term of office as the Board of Commissioners member shall be effective from the date specified in the GMS
appointing them, until the close of the 4th AGM after the date of appointment without prejudice to the right of the
GMS to dismiss them at any time in accordance with the Articles of Association and prevailing regulations.
2. The appointment of Board of Commissioners members becomes effective upon approval from OJK or the fulfilment
of the requirements stipulated in the OJK approval letter related to the Fit and Proper Test, and other relevant
authorities (if any), and has been approved by the shareholders through the GMS.
3. The term of office for the Independent Commissioners is 2 (two) consecutive terms or maximum 9 (nine) years.
4. The position of a member of the Board of Commissioners shall expire in the event of:
a. The term of office expires with the provision in the Bank’s Articles of Association;
b. Resigning in accordance with the prevailing regulations;
c. No longer comply with the law and regulatory requirements;
d. Pass away;
e. Dismissed based on the GMS resolution;

f. Declared bankrupt or placed under supervision based on a court decision;

g. Engaged in a financial crime.
5. The member of the Board of Commissioners who have completed their term of office may be re-appointed after
taking into account the prevailing regulations.
FIT AND PROPER TEST

Based on OJK Regulation No.27/POJK.03/2016 on the Fit and Proper Test for Main Parties of Financial Services
Institutions regulate that candidates member of the Board of Commissioners must obtain approval from OJK before
performing their actions, duties and functions as the member of the Board of Commissioners. Members of the Board
of Commissioners who have passed the Fit and Proper Test without notes and have received approval from the OJK,
indicate that they possess adequate integrity, competence and financial reputation, as shown in the table below:
No Name Position Regulator Basis of Appointment BI/OJK Approval Effective Date Reappointment
1 Didi Syafruddin Yahya President OJK AGM No. SR-188/PB.12/2020 7 July 2020 -
Commissioner 9 April 2020 dated 7 July 2020
2 Glenn M. S. Yusuf Vice President OJK AGM No. SR-308/PB.12/2020 16 September -

Commissioner 9 April 2020 dated 16 September 2020 2020
(Independent)
3 Jeffrey Kairupan Independent OJK AGM No. SR-183/D.03/2016 14 September AGM

Commissioner 15 April 2016 dated 14 September 2016 2016 9 April 2020
4 Sri Widowati Independent OJK AGM No. SR-309/PB.12/2019 20 November -

Commissioner 15 April 2019 dated 20 November 2019 2019
6 Dato’ Abdul Rahman Commissioner OJK EGM - - -

Ahmad* 25 September
2020
7 David Richard Thomas Commissioner OJK AGM No. SR-159/D.03/2014 15 September RUPST
27 March 2014 dated 15 September 2014 2014 24 April 2018
Appointed as Commissioner in the EGM on 25 September 2020 and effective upon obtaining OJK approval and/or fulfilled the requirements as determined in the OJK approval.
*)
DUTIES, RESPONSIBILITIES, AND AUTHORITIES performing the Bank’s internal control functions;
OF THE BOARD OF COMMISSIONERS c. The implementation of the compliance function,
The Board of Commissioners shall act and be responsible and the internal and external audits;
collegially, and is assisted by the Audit Committee, d. The risk management implementation, including
the Risk Oversight Committee, the Nomination and the internal control system;
Remuneration Committee and the Integrated Governance e. The provision of funds to related parties and
Committee in their respective areas. Members of the provision of large funds;
Board of Commissioners must act in good faith, full f. The Bank’s strategic plan;
of responsibility, prudently and independently. The g. The transparency of the Bank’s financial and non-
duties, responsibilities, and authorities of the Board of financial condition;
Commissioners that apply to each member of the Board h. Periodically approve and review the Bank’s Vision,
of Commissioners are as follows: Mission and Core Values.
1. Each member of the Board of Commissioners must 3. The Board of Commissioners shall supervise the
not act individually, and shall act based on a decision management policies, the general management
by the Board of Commissioners. processes and is responsible for this supervision, and
2. The Board of Commissioners must ensure that the shall provide advice to the Board of Directors.
principles of Good Corporate Governance shall apply 4. In performing the supervisory duties as referred to in
to all business activities of the Bank at all levels of the number 2 and 3 above, the Board of Commissioners
organization, at least through: must direct, monitor and evaluate the Bank’s strategic
a. The implementation of the Board of policy implementation pursuant to the regulations.
Commissioners and the Board of Directors duties 5. The BOC shall ensure the harmony of environment,
and responsibilities; economic, social and governance aspects in the
b. The completeness and implementation of the
Committees’ and working units’ duties when

preparation of Bank’s business strategies and Bank’s business.

implementation of business activities by the BOD, as 13. In order to support the effectiveness of its duties and
the form of sustainable banking practices. responsibilities, the Board of Commissioners shall
6. In the event that there is only one member of the establish at least:
Board of Commissioners due to the absence of the a. Audit Committee;
other members, all duties and authorities granted b. Risk Oversight Committee; and
to the President Commissioner, or other members c. Nomination and Remuneration Committee.
of the Board of Commissioners, as described in the 14. The Board of Commissioners shall supervise the
Bank’s Articles of Association will automatically apply established Committees, as referred to in point 13
to him/her. above, so they perform their duties effectively, and
7. The Board of Commissioners are prohibited from shall evaluate and/or assess the performance of
take part in decision-making related to the Bank’s these committees at a minimum at the end of each
operations, except for: financial year.
a. Loan provisions to related parties as regulated in 15. The Board of Commissioners together with the
the OJK regulation regarding Legal Lending Limit President Director approve the annual audit plan
for Commercial Banks; and and budget allocation for the internal audit function
b. Other matters specified in the Bank’s Articles execution and internal audit charter, by considering
of Association or in the prevailing rules and the recommendations of the Audit Committee.
regulations. 16. The Board of Commissioners shall conduct active
8. Decision making by the Board of Commissioners supervision of the Compliance Function by:
as referred to in number (7) above is part of the a. Evaluating the Bank’s Compliance Function at
supervisory functions of the Board of Commissioners least twice a year.
so as not to negate the Board of Directors’ b. Providing recommendations to improve the
responsibility for the management of the Bank. quality of the Bank’s Compliance Function.
9. The Board of Commissioners approves and monitors 17. Based on point 15, the Board of Commissioners shall
the implementation of the Bank’s strategies, the provide recommendations for improving the quality
Business Plan, and several policies in accordance of the Compliance Function to the President Director.
with the prevailing regulations, including the 18. The Board of Commissioners is responsible for
establishment and implementation of strategies ensuring the implementation of Risk Management
related to Anti-Fraud, Anti Money Laundering in accordance with the Bank’s characteristics,
and Counter-Terrorist Financing (AML- CFT), complexity and risk profile by:
Whistleblowing, Integrated Corporate Governance, a. Approving the Risk Management policy including
Related Party Transaction (RPT), Legal Lending Limit Risk Management Strategy and Framework as
(LLL), and other Bank strategies in accordance with determined based on the Bank’s risk appetite and
the prevailing regulations. risk tolerance.
10. Through the Nomination and Remuneration b. Evaluating the Risk Management policies and
Committee, supervises the selection and assessment strategy at least once a year, or more frequently
of candidate members for the Board of Directors and in the event of any changes in factors significantly
the Board of Commissioners without interference. affecting the Bank’s business activities.
11. The Board of Commissioners shall ensure that the 19. In the execution of the internal audit function, the
Board of Directors has taken follow up actions on Board of Commissioners is responsible to:
audit findings and recommendations from the Bank’s a. Ensure that the Board of Directors formulates
Internal Audit, External Auditor, supervision results and maintains an internal audit system that is
from OJK and/or other authorities. adequate, effective and efficient;
12. The Board of Commissioners shall report to OJK b. Evaluate the effectiveness and efficiency of the
within 7 (seven) working days any findings related to: internal control system based on the information
a. Violations of finance and banking laws and
regulations; and
b. Any circumstances or projected circumstances
that may compromise the sustainability of the

received from the Bank’s Internal Audit Unit (IA) at or other premises used or controlled by the Bank,
least once a year; and is entitled to examine all accounts, letters and
c. Appoint an independent quality assurer from other evidence, to audit and verify the cash and other
external parties to undertake reviews on the financial conditions, as well as to know all actions
performance of the Internal Audit Unit by taken by the Board of Directors.
considering the recommendations of the Audit 28. The Board of Commissioners has the right to obtain
Committee. explanations on all matters relating to the operations
20. The Board of Commissioners and the President of the Bank and its subsidiaries, as well as matters
Director are responsible for to ensure that the relating to the Bank’s ethical standards.
implementation of internal audit in the Bank’s 29. The Board of Commissioners shall ensure that the
subsidiaries are carried out using the audit standards Board of Directors possess and implements the
applied to the Bank, with due consideration on Financial Literacy and Financial Inclusion plans.
the size, characteristics, and complexities of the 30. The Board of Commissioners shall prepare a
subsidiaries business. succession plan for the Chief Executive Officer (CEO)/
21. The Board of Commissioners communicates with the President Director and key management to ensure
internal audit function of the Controlling Shareholder the Bank’s sustainable future leadership.
of the Bank so as they will prepare the scope of audit
and executes the internal audit activities with a scope DUTIES AND RESPONSIBILITIES OF THE PRESIDENT
that is adequate for the Bank, with due consideration COMMISSIONER
to prevailing laws and regulations. In addition to the above duties and responsibilities, the
22. The Board of Commissioners and President Director President Commissioner has the following additional
approve the appointment and dismissal of the Chief duties and responsibilities:
Audit Executive, by considering the recommendation 1. Coordinating the implementation of the Board of
of the Audit Committee. Commissioners duties and responsibilities.
23. A member of the Board of Commissioners, appointed 2. May propose to hold a Board of Commissioners’
by the Board of Commissioners must chair the meetings, including the Meetings’ agenda.
GMS. In the event that all members of the Board of 3. To invite and chair the Board of Commissioners’
Commissioners are absent or unable to attend due meetings.
to any reason whatsoever, without any requirement 4. Deliver the BOC supervisory report to obtain approval
to prove to third parties, the President Director shall from the AGM on the Board of Commissioners duties
chair the GMS. and supervision performance.
24. In performing its duties, the Board of Commissioners 5. Ensuring that the responsibilities of the Board of
is entitled to seek the assistance of experts for a Commissioners are discharged in accordance with
limited period of time. procedures.
25. The Board of Commissioners, based on Board of 6. Together with the President Director signing the
Commissioners meeting resolutions, is authorized report on the appointment or dismissal of the
to temporarily dismiss members of the Board of Chief Audit Executive and the report from external
Directors by stating the reasons. In the event that a independent reviews on the performance of the
Board of Directors member is temporarily dismissed, Bank’s Internal Audit Unit, to be submitted to OJK.
the Board of Commissioners must convene a GMS 7. To ensure that the Board of Commissioners’ meetings
within 90 (ninety) days after the date of any dismissal, are effective in that decisions are taken, based on
to revoke or enforce the dismissal decision. sound and well-informed basis, including ensuring
26. The Board of Commissioners may undertake Bank that:
management actions under certain circumstances a. All strategic and critical issues are considered by
and for a certain period of time. In such case, all the Board of Commissioners;
provisions concerning the rights, authority and b. Matters are carefully and thoroughly discussed;
responsibilities of the Board of Directors to the Bank c. All members of the Board of Commissioners are
and third parties will apply. given the opportunity to contribute effectively;
27. The Board of Commissioners is, at all times within
office hours, entitled to enter the buildings, yards,

d. Each Commissioner receives the relevant 10. Perform other responsibilities as assigned by the
information on a timely basis, including being Board of Commissioners, from time to time, and
properly briefed on issues arising at the Board of 11. Conduct a final evaluation on the collegial
Commissioners’ meetings; and performance of the Board of Commissioners and
e. The Board of Commissioners’ meetings come to the Committees as well as individual performance
clear decisions and resolutions are noted. of members of the Board of Commissioners and
8. To ensure that the Board of Commissioners behaves members of the Committees after taking into account
in accordance with the Board of Commissioners the recommendation from the Nomination and
Charter. Remuneration Committee.
9. Lead efforts to address the Board of Commissioners
development requirements.
SEGREGATION OF DUTIES OF THE BOARD OF COMMISSIONERS

Based on their respective competencies and fields, several members of the Board of Commissioners concurrently
serve as Chairman and/or Members of the Committees established to support the Board of Commissioners’ duties and
responsibilities.
Committee Committee Membership by Members of the Board of Commissioners

Audit Committee Jeffrey Kairupan (Chairman and concurrently member)
Risk Oversight Committee 1. Glenn M. S. Yusuf (Chairman and concurrently member)
2. Didi Syafruddin Yahya (Member)
3. David Richard Thomas (Member)
Nomination and Remuneration Committee 1. Sri Widowati (Chairman and concurrently member)
2. Glenn M. S. Yusuf (Member)
3. Didi Syafruddin Yahya (Member)
Integrated Governance Committee Jeffrey Kairupan (Chairman and concurrently member)
INDEPENDENCY OF THE BOARD OF 6. Unless otherwise stipulated in the prevailing laws and
COMMISSIONERS regulations and the Bank’s Article of Association, the
In discharging their duties and responsibilities, members Board of Commissioners has no right to represent
of the Board of Commissioners uphold the principle of the Bank even though authorized by the Board of
independence at all times, prioritizes the interest of the Directors, unless due to the failure of the Board of
Bank before self-interest, and protects oneself against Directors, when the Board of Commissioners shall
the influence of any other party. These commitments are take over the role of the Board of Directors.
in line with the provisions of the Board of Commissioners 7. All members of the Board of Commissioners shall not
Charter, as follows: accept, give or offer anything from/to State Officer
1. The Board of Commissioners and their families and and business partners.
any parties affiliated to them are not allowed to take
loans from the Bank. All members of the Board of Commissioners of the Bank
2. The Board of Commissioners are not allowed to use do not receive shares or bonuses.
information obtained from the Bank for making any
decisions for the benefit of their own, their family and CONCURRENT POSITIONS OF THE BOARD OF
affiliated parties. COMMISSIONERS
3. The Board of Commissioners are not allowed to The Board of Commissioners Charter governs the
accept personal gains or income from the Bank other provisions regarding the concurrent positions of
than remuneration and other facilities as set forth in members of the Board of Commissioners of CIMB Niaga,
the Bank’s policy approved by the GMS. whereby members of the Board of Commissioners may
4. The Board of Commissioners shall prioritize the only hold concurrent positions as:
interests of the Bank by adopting professionalism 1. A member of the Board of Commissioners, Board of
and integrity principles, and shall work and behave to Directors, or Executive Officer of 1 (one) other non-
the highest standard financial institution/company; or
5. The Board of Commissioners are not allowed to
retain and duplicate Bank’s documents and control
the Bank’s assets for personal benefits.

2. A member of the Board of Commissioners, Board that have the potential to create and/or contain a
of Directors, or Executive Officer who carry out conflict of interest that may have significant financial
supervisory functions in 1 (one) non-bank subsidiary and reputational impact on CIMB Niaga, the Board of
controlled by the Bank; Commissioners, and the Board of Directors.
3. A Committee member up to 5 (five) committees in the 2. Should preclude themselves from participating in
Bank or Public Company where the person concerned the assessment process of any activities that may
also serves as the member of the Board of Directors constitute a conflict of interest.
or the Board of Commissioners. 3. May participate in meeting, but are not allowed to
participate in decision making.
Not considered as a concurrent position as stated above,
when: POLICY ON LOANS PROVISION TO THE
1. The non-Independent member of the Board of BOARD OF COMMISSIONERS
Commissioners carry out functional duties for the Members of the Board of Commissioners and their
Bank’s shareholders in the form of legal entities in families and other affiliated parties are not allowed to
their business groups; and/or borrow money from the Bank as stipulated in the Board
2. Members of the Board of Commissioners hold of Commissioners’ Charter.
positions in non-profit organizations or institutions.
BOARD OF COMMISSIONERS SUPERVISION
Provided that the members of the Board of Commissioners FOCUS IN 2020
do not neglect their duties and responsibilities as a Throughout 2020, the meetings of the Board of
member of the Bank’s Board of Commissioners. No Commissioners produced recommendations and
members of CIMB Niaga’s Board of Commissioners have inputs on a number of aspects that support the Bank’s
concurrent positions at the subsidiaries of CIMB Niaga. business. The main focus remained on the achievement
of business targets, risk management, prudent banking,
Information on the concurrent positions for the Board of and compliance with prevailing regulations.
Commissioners members in other agencies/companies/
institutions/organizations for 2020 are available in the The Board of Commissioners also formulates and
Corporate Profile Section of this Annual Report. implements its oversight focus and work plan as the
agreed guideline and basis for the agendas of the Board
CONFLICT OF INTEREST OF THE BOARD OF of Commissioners meetings and joint meetings with the
COMMISSIONERS Board of Directors. The oversight focus of the Board of
During 2020, the Bank ensured that all Board of Commissioners that covers several important aspects in
Commissioners’ members did not have a conflict of 2020 were:
interest or a potential conflict of interest against CIMB 1. Analysed, provided inputs, and together with the
Niaga. All members of the Board of Commissioners must Board of Directors approved the Bank’s Business
avoid potential conflicts of interest and must not place Plan (RBB) as well as reviewed and approved the RBB
themselves in a potential position for conflicts of interest revision for the submission to OJK in the allotted time
in any situation as stated in the Board of Commissioners’ frame.
Charter. 2. The Board of Commissioners was obliged to oversaw
the implementation of RBB that is also reported to
In the event of a conflict of interest, members of the OJK periodically through the RBB realization report.
Board of Commissioners are prohibited from taking 3. The Board of Commissioners also monitored,
actions that could harm or reduce the Bank’s profit and analysed and provided inputs on the strategic plan of
must disclose any potential conflict of interest in each the Bank.
decision taken. The procedures that must be followed by 4. Periodically reviewed the financial performance of the
the Board of Commissioners’ members in the event of a Bank in the meetings of the Board of Commissioners
conflict of interest are as follows: and/or the Committees and also inviting business
1. They are obliged to immediately report in writing to units to present their respective performance.
the Board of Commissioners regarding any matters

5. Pursuant to prevailing regulations, the oversight office have all expired at the AGM on 9 April 2020, and
on risk management is the focus of the Board of (iv) the appointment of a new Director, namely Tjioe
Commissioners, including the self-assessment on Mei Tjuen.
Bank’s soundness ratios using the Risk Based-Bank 13. In terms of Human Resources, the Board of
Rating (RBBR). In 2020, through the Risk Oversight Commissioners through the Nomination and
Committee, the Board of Commissioners oversaw the Remuneration Committee monitored the policies
risk management, assets quality, Bank soundness, on manpower and HR function that contain risk
and the results of stress test as well as reviewed with potential significant impact on the Bank, and
the Bank’s mandatory risk management policies overseen the implementation of risk management on
including the policy on Funding Contingency Planning personnel outsourcing.
and evaluated the risk management policies against 14. Through the Audit Committee, reviewed the Bank’s
the implementation. financial report including the financial statements,
6. Ensured the Board of Directors has followed up on the the accounting treatment in line with prevailing
audit findings and recommendations of the Internal accounting standards, reviewed the adequacy of
Audit Unit, including improvements to audit findings the financial publication and statutory report, and
from the external auditors and the Regulator. evaluated the compliance function of the Bank.
7. Periodically received the Board of Directors Report 15. The oversight function of risk management was
on the Bank’s liquidity in Rupiah and US Dollars to carried out through the Risk Oversight Committee
obtain a clear illustration on the funding and liquidity that provided its recommendation to the Board of
structure, as well as the funding strategy of the Bank. Commissioners in support of the effective discharge
8. Reviewed the: (i) Supervision Report on every half- of the duties and responsibilities of the Board of
year, (ii) GCG Assessment Reports, and (iii) related Commissioners with regards to risk management.
party transaction and approved several internal 16. Oversaw the implementation of the Integrated
policies that required approval of the Board of Governance within the CIMB Indonesia Financial
Commissioners. Conglomerate through the Integrated Governance
9. Received the updated reports on the investment and Committee, including the evaluation on the
progress on operations and information technology implementation of the integrated governance
that were implemented in 2020. through the assessment of the integrated internal
10. Monitored the Bank’s operational risk related to (Non control’s adequacy and the implementation of
Performing Loan – NPL), impaired loans, and fraud. compliance function.
11. Reviewed and approved the updated Recovery Plan 17. Analysed, provided input, and together with the
that has been submitted to OJK in November 2020 Board of Directors approved the Action Plan on
and ensured that the updated plan will be proposed Sustainability Finance (RAKB) of 2021 and the
for shareholders’ approval in the 2021 AGM. realization of RAKB 2020 for submission to OJK.
12. In 2020, the Board of Commissioners approved
the recommendations of the Nomination and RECOMMENDATIONS OF THE BOARD OF
Remuneration Committee for submission to the COMMISSIONERS
GMS on the appointments of members to the The Board of Commissioners carried its supervision
Board of Commissioners and Board of Directors as and provided advisories that are conveyed directly or
follows: (i) Didi Syafruddin Yahya who previously through the Audit Committee, Risk Oversight Committee,
served as Commissioner appointed as President Nomination and Remuneration Committee, and the
Commissioner, (ii) appointments of new members Integrated Governance Committee that are discussed
to the Board of Commissioners, namely Glenn M. S. in the Board of Commissioners meetings. Throughout
Yusuf as Vice President Director (independent) and 2020, some of the more important recommendations by
Dato’ Abdul Rahman Ahmad as Commissioner, (iii) re- the Board of Commissioners are presented as follows:
appointment of Jeffrey Kairupan as an Independent 1. Provided inputs and approved the Bank’s Corporate
Commissioner, and the re-appointment of several Action plan for 2020 including the Annual and
members of the Board of Directors, namely Vera Extraordinary General Meeting of Shareholders
Handajani, Lani Darmawan, Pandji P. Djajanegara as and the issuance of the Shelf Registration Sukuk
Director respectively, and Fransiska Oei as Director, Mudharabah I Phase III of 2020.
concurrently as Compliance Director, whose terms of

2. Approved the revised RBB of 2020, RAKB of 2021 and members of the Board of Commissioners in line with
the realization of RAKB of 2020 as well as the Bank’s current development in the industry and Good Corporate
strategic & business plan of 2021. Governance, the Bank facilitates this competency
3. Reviewed and provided inputs on the Risk Appetite development through various training programs for the
Statement of the Bank. Board of Commissioners. The development programs are
4. Provided inputs on the financial targets of the meant to support the effectiveness of the duties of the
Bank, including Net Interest Margin, NPL and watch Board of Commissioners to achieve sustainable growth
list account, Loan to Deposit Ratio, Asset Quality, and effective management of the Bank as provided for in
productivity and market competition. the Board of Commissioners’ Charter.
5. Provided inputs on increasing the low-cost funds
(CASA) and fee-based income of the Bank by RISK MANAGEMENT CERTIFICATION
increasing Bank’s services to facilitate convenient CIMB Niaga undertakes risk management certification
transactions through Transaction Banking, Value program for members of the Board of Commissioners
Chain and improvements to the Sharia Banking pursuant to the Regulation on the Implementation of
business through dual banking leverage as well as Employment (P2K) on the Implementation of Employee
the continuing development of branchless banking Learning and PBI No. 11/19/PBI/2009 dated 4 June 2009
facilities provided by the Bank to enhance the and its amendment in PBI No. 12/7/PBI/2010 date 19
customer experience in transactions. April 2010 on the Risk Management Certification of
6. Provided inputs and recommendations on cost the Managements and Executives of the Commercial
management efficiency and discipline to continue Bank, members of the Board of Directors and Board of
reducing cost ratio while increasing Bank revenues, Commissioners are required to enroll in the competence
the IT transformation program and the productivity of test/certification programs of the Regulator, namely
both frontline and back office operations, delegation the Risk Management Certification and its Refreshment
of authority on the approval process to expedite program.
customer service.
7. Periodically discussed the macro economic and All members of the Board of Commissioners who served
industrial conditions as well as new banking as of 31 December 2020 have had the Risk Management
regulations, and their impacts on the business of the Certification and/or Refreshment as presented in the
Bank and the follow up actions. Company Profile Section in this Annual Report.
8. Provided recommendations to the Board of
Directors through the committees of the Board TRAINING AND COMPETENCY DEVELOPMENT
of Commissioners as provided for in the Report PROGRAM
of the Implementation of the Duties of the Audit CIMB Niaga is committed to conduct competency
Committee, Risk Oversight Committee, Nomination development and training programs for all members
and Remuneration Committee, and the Integrated of the Board of Commissioners to support their
Governance Committee in the Corporate Governance supervisory function. This commitment is reflected in
Report Section of this Annual Report. the training attended by each member of the Board of
9. Pursuant to the Articles of Association of the Commissioners, which is listed in the Company Profile
Bank, the Board of Commissioners approved the Section of this Annual Report.
recommendation of actions on non-performing loans,
credit restructuring and write-offs above a certain INDUCTION PROGRAM FOR NEW MEMBERS OF
limit as provided for in the Bank’s policy. In addition, THE BOARD OF COMMISSIONERS
the Board of Commissioners gave its approval on Newly appointed members of the Board of Commissioners
credit to the affiliate party of the Bank, in accordance must attend an Induction Program as provided for in
with the prevailing regulatory requirements. the Board of Commissioners’ Charter. The induction
program aims to familiarize the new members of the
DEVELOPMENT PROGRAMS OF THE BOARD Board of Commissioners’ on the Bank’s profile including
OF COMMISSIONERS its characteristics and business processes, enabling them
To accommodate the enhancement of professional to work in line with the other organisations of the Bank.
knowledge, competence and leadership capabilities of

The induction program for new Commissioners takes the PERFORMANCE ASSESSMENT CRITERIA
form of documents prepared by the Corporate Affairs FOR COMMITTEES UNDER THE BOARD OF
unit, including: COMMISSIONERS
1. Bank’s Vision and Mission. The criteria for the performance assessment of the
2. Bank’s Code of Ethics and Conduct. Committees under the Board of Commissioners includes:
3. Bank’s Organizational Structure.
4. Bank’s Articles of Association. 1. Collegial Performance Assessment for the
5. Corporate Policy Manual (GCG Charter). Committees under the Board of Commissioners
6. Board of Commissioners’ Charter and The Committees The assessment criteria comprise of the Committee
under the Board of Commissioners’ Charters. structure, effectiveness of Committee meetings and
7. Regulations related to the Banking and Capital the effectiveness of the execution of Committee
Markets. duties and responsibilities.
8. Bank’s Annual Report.
9. Bank’s Business Plan. 2. Individual Performance Assessment for Each
Members of the Committees under the Board of
To improve the induction program’s quality and Commissioners
effectiveness, the Bank has developed a digital The assessment criteria comprise of the competence
induction program (e-Learning), through the Learning and capability, as well as effectiveness of the members
on the Go (LoG) application, which is accessible to the of the Committee in their duties and responsibilities
Commissioner candidates anywhere at any time. implementation.
In 2020, induction programs were given to 2 (two) new 3. Performance Assessment for the Chairman of the
members of the Board of Commissioners namely Glenn Committees under the Board of Commissioners
M. S. Yusuf dan Dato’ Abdul Rahman Ahmad. The assessment criteria comprise of the effectiveness
in the implementation of duties and responsibilities,
PERFORMANCE ASSESSMENT OF and leadership over the Committee.
COMMITTEES UNDER THE BOARD OF
COMMISSIONERS PARTIES PERFORMING THE PERFORMANCE
ASSESSMENT FOR COMMITTEES UNDER THE
PERFORMANCE ASSESSMENT POLICY AND BOARD OF COMMISSIONERS
PROCEDURE FOR COMMITTEES UNDER THE The parties involved in the performance assessment for
BOARD OF COMMISSIONERS the Committees, Committee members and Committees
The performance assessments of the Committees under Chairman are as follows:
the Board of Commissioners are evaluated each year (at
least once a year), and includes: 1. Collegial Performance Assessment for the
1. Collegial performance assessment for the Committees under the Board of Commissioners
Committees under the Board of Commissioners; The assessment is carried out by each Committee
2. Individual performance assessment for each member on Committee performance.
members of the Committees under the Board of
Commissioners; and 2. Individual Performance Assessment for Each
3. Performance assessment for the Chairman of the Members of the Committees under the Board of
Committees under the Board of Commissioners. Commissioners
Each Committee member provides an assessment for
The final evaluation on the performance of the Committees every other Committee member.
under the Board of Commissioners both collegially and
individually, including that of the Committee Chairman, 3. Performance Assessment for the Chairman of the
are presented by the Nomination and Remuneration Committees under the Board of Commissioners
Committee at the Board of Commissioners meeting. The Each Committee member assess the performance of
results thereof will be followed up for improvement or as the Chairman of their respective Committee.
an action plan (if needed).

PERFORMANCE ASSESSMENT RESULTS FOR THE COMMITTEES UNDER THE BOARD OF COMMISSIONERS IN
2020
The results of the collegial performance assessment for the Committees under the Board of Commissioners are as
follows:
Nomination and Remuneration Integrated Governance

Audit Committee Risk Oversight Committee
Committee Committee
3.8 4.0 4.2 3.4
Meanwhile, the average results of individual performances assessment of the Committee members are as follows:

Committee Committee
3.8 4.1 4.5 3.5
Whereas the performances assessment results of the respective Committee Chairman are as follows:

Committee Committee
4.2 4.2 4.6 3.6
Range of score value:
Range Description
≥ 4.7 Excellent
4.0 - 4.6 Exceptional
3.7 - 3.9 Beyond Expectation
3.0 - 3.6 Meet Expectation
< 3.0 Need Improvement

INDEPENDENT COMMISSIONERS
The OJK Circular Letter No. 13/SEOJK.03/2017 on the NUMBER AND COMPOSITION OF
Implementation of Corporate Governance for Commercial INDEPENDENT COMMISSIONERS
Banks stipulates that the Independent Commissioners As of 31 December 2020, CIMB Niaga has 3 (three)
are the members of the Board of Commissioners who Independent Commissioners from a total of 6 (six)
have no financial, managerial, share ownership and/or members of the Board of Commissioners or equal
familial relationship with other members of the Board of to 50% (fifty percent). The number of Independent
Commissioners, members of the Board of Directors and/ Commissioners of CIMB Niaga has complied with the OJK
or the controlling shareholders, or with companies that Regulation No. 55/POJK.03/2016 on the Implementation
may hinder or inhibit their position to act independently. of Corporate Governance for Commercial Banks that
The Independent Commissioners are responsible for stipulates the number of Independent Commissioners
supervising and also representing the interests of should comprise a minimum of 50% (fifty percent) of the
minority shareholders in accordance with the principles total members of the Board of Commissioners.
of GCG.
All of the Independent Commissioners of CIMB Niaga have passed the fit and proper test and have been approved by
OJK as Independent Commissioners as well as were appointed by the Bank’s GMS. As such, the composition of CIMB
Niaga’s Independent Commissioner is in accordance with the prevailing laws and regulations.
The Bank’s Independent Commissioners are:
Name Term of Office

Glenn M. S. Yusuf Appointed as Vice President Commissioner (Independent) of CIMB Niaga based on the AGM
Resolution on 9 April 2020 and effective since 16 September 2020.
Jeffrey Kairupan Appointed as Independent Commissioner of CIMB Niaga based on the AGM Resolution on 15
April 2016 and effective since 14 September 2016. Reappointed based on the AGM Resolution on
9 April 2020.
Sri Widowati Appointed as Independent Commissioner based on the AGM Resolution on 15 April 2019 and
effective since 20 November 2019.
CRITERIA OF THE INDEPENDENT The provisions referred to above do not apply to

COMMISSIONER former Directors or Executive Officers performing
All Independent Commissioners in CIMB Niaga are supervisory functions.
selected based on criteria set forth in the Board of 2. Has no financial relationship, management
Commissioners’ Charter, as well as the Policies and relationship, shareholding relationship, familial
Procedures for Nomination, Appointment, Replacement relationship with other members of the Board of
and/or Dismissal of the members of the Board of Commissioners, members the Board of Directors
Commissioners, members of the Board of Directors, and and/or the Controlling Shareholders of the Bank.
the Independent Parties as members of the Committees 3. Has no direct or indirect shareholding in the Bank.
under the Board of Commissioners, the criteria of which 4. Has no affiliation with the Bank, other members of
were prepared pursuant to prevailing regulations, as the Board of Commissioners, members of the Board
follows: of Directors, or with the Controlling Shareholders of
1. Not an individual who had been employed or had the Bank.
the authority and responsibility to plan, direct, 5. Is not associated with any business, either directly or
control or supervise the Bank’s activities including indirectly, that is involved with the business activities
former members of the Bank’s Board of Directors or of the Bank.
Executive Officers, or other parties with a relationship 6. Fulfills all other requirements of the Independent
with the Bank, which may affect their ability to act Commissioner as stipulated in prevailing regulations.
independently during the last 1 (one) year, except for 7. The term of office of the Independent Commissioner
re-appointment as an Independent Commissioner of is for a maximum of 2 (two) consecutive terms or a
the Bank for a following period. total of 9 (nine) years.

8. If the Independent Commissioner is serving on the STATEMENTS OF INDEPENDENCE OF THE

Audit Committee, then they may only be reappointed RESPECTIVE INDEPENDENT COMMISSIONER
to the Audit Committee for 1 (one) further term. All Independent Commissioner members fulfill the
9. An Independent Commissioner who serves as a independence aspects as stipulated in Article 25
Committee Chairman may only concurrently serve as paragraph (1) of the OJK Regulation No. 33/POJK.04/2014
a Committee Chairman in one other Committee. on the Board of Directors and Board of Commissioners
of Issuers or Public Listed Companies, as follows:
Fulfillment of Independency Aspects
Glenn M. S. Jeffrey
No Criteria of the Independent Commissioners Sri Widowati
Yusuf Kairupan
1 Not an individual who works or has authority and responsibility to plan, lead, control or √ √ √
oversee the activities of (the Bank) in the last 6 (six) months.
2 Has no direct or indirect shares in the Bank. √ √ √
3 Has no affiliation with the Bank, fellow members of the Board of Commissioners, √ √ √
members of the Board of Directors or the Controlling Shareholders of the Bank.
4 Has no financial relationship, management relationship, shareholding relationship, √ √ √
family relationship with fellow members of the Board of Commissioners, members of
the Board of Directors and/or the Controlling Shareholders of the Bank.
5 Has no direct or indirect business relationship with the business activities of the Bank. √ √ √

BOARD OF DIRECTORS
The Board of Directors is a Governance organ that has full The latest update of the Board of Directors’ Charter was
collegial responsibility for the management of the Bank in on 27 September 2019 and has been uploaded to the
the interest of, and in accordance with the purpose and Bank’s website (www.cimbniaga.co.id). The contents of
objectives of the Bank, as well as to represent the Bank the Board of Directors’ Charter regulate several matters
both inside and outside court, according to the provisions including:
of the Bank’s Articles of Association. Each member 1. Accountability;
of the Board of Directors carries out his/her duties in 2. Structure and Membership;
accordance with their respective duties and authorities, 3. Requirements and Appointment;
with the aim of achieving management effectiveness and 4. Duties, Responsibilities, and Authorities;
maximum results. The Board of Directors of CIMB Niaga 5. Conflicts of Interest;
always upholds professional, objective, strategic thinking 6. Transparency;
and prioritizes the interests of the Bank to increase 7. Work Ethics and Working Hours;
added value for the Bank’s stakeholders and ensure its 8. Meetings;
business sustainability. 9. Term of Office;
10 Resignation; and
LEGAL BASIS 11. Performance Assessment and Accountability.
The legal basis that constitute the reference of the
formation and appointment of the Board of Directors of MECHANISM OF NOMINATION,
CIMB Niaga is as follows: APPOINTMENT, DISMISSAL, REPLACEMENT
1. Laws of the Republic Indonesia concerning the AND/OR RESIGNATION OF MEMBERS OF THE
Limited Liability Company and Banking. BOARD OF DIRECTORS
2. The Bank’s Articles of Association. CIMB Niaga has and implements the Policy and
3. OJK Regulations, Bank Indonesia (BI) Regulations, Procedure for the Nomination, Appointment, Dismissal,
OJK Circular Letters and BI Circular Letters on the Replacement and/or Resignation of Members of the
implementation and organization of Corporate Board of Commissioners, the Board of Directors and
Governance. Independent Parties as the Members of the Committees
4. Deed of the Annual General Meeting of the Responsible to the Board of Commissioners No. M.04.
Shareholders No. 27 dated 17 November 2020, which
was notified to, and acknowledged by the Minister of CIMB Niaga has drafted such policy with the aim
Law and Human Rights of the Republic of Indonesia of ensuring the implementation of good corporate
(Menkumham RI) through Notification Receipt No. governance and risk management as well as to guide the
AHU-AH.01.03-0409518 on 19 November 2020 on process of nomination, replacement and/or termination
amendments to the Bank’s Articles of Association. of members of the Board of Commissioners, Board of
Directors and Independent Parties with the following
BOARD OF DIRECTORS’ CHARTER rules:
In discharging its duties and responsibilities, the Board
of Directors refer to the by Board of Directors’ Charter 1. Criteria for Member of the Board of Directors
that is periodically evaluated and updated based on The candidates for members of the Board of Directors
the prevailing laws and regulations in Indonesia that is of CIMB Niaga must at least meet the requirements
binding upon each member of the Board of Directors. and criteria as stipulated in prevailing laws and
regulations, in terms of integrity, competence,
The basis for preparing the Board of Directors Charter is reputation, domicile, independence and other specific
as follows: requirements and criteria befitting the Director’s area
1. Law of the Republic Indonesia No. 40 of 2007 on the of expertise.
Limited Liability Company. 2. Procedure on the Nomination of Members of the
2. OJK Regulations and OJK Circular Letters on the Board of Directors are as follows:
Implementation and Organization of Corporate a. Prioritized candidates are from the Bank’s internal
Governance. pool of talents who are deemed potential to be
3. Bank’s Articles of Association. nominated as the Bank’s Director,and can also
4. GCG General Guidelines in Indonesia from the come from professionals.
National Committee on Governance Policy (KNKG).
5. The ASEAN Corporate Governance Scorecard.

b. The Bank can utilize the services of an STRUCTURE, NUMBER, AND COMPOSITION
independent and reputable third-party (search OF THE BOARD DIRECTORS IN 2020
firms) that has a good reputation in the process of The structure and composition of CIMB Niaga ‘s Board of
selecting candidates for a Director. The appointed Directors have met all prevailing regulations, as stipulated
third parties (search firms) will assist the selection in the Board of Directors’ Charter which include:
process, including: 1. The total number of CIMB Niaga’s Board of Directors
i. Identifying candidates who meet the consists of more than 3 (three) persons, namely 8
requirements; (eight) persons.
ii. Conducting interviews and selection of 2. The total number of members of the Board of
candidates (including conducting background Directors of CIMB Niaga is more than the number of
and reference checking); the Board of Commissioners of CIMB Niaga.
iii. Acting as a liaison between the Board 3. All members of the Board of Directors of CIMB Niaga
of Commissioners, the Nomination and are domiciled in Jakarta, Indonesia.
Remuneration Committee and the candidates 4. The majority of the Board of Directors members
during the selection and evaluation process; are Indonesian, namely 7 (seven) out of the 8 (eight)
iv. Providing consultations as needed by the members of the Board of Directors.
Nomination and Remuneration Committee. 5. The Board of Directors is led by a President
c. Members of the Board of Directors, Board of Director, who is independent from the CIMB Niaga’s
Commissioners and/or Shareholders of the Bank Controlling Shareholder, fellow members of the
may propose candidates as members of the Board of Directors and members of the Board of
Board of Directors to the Bank. The shareholders Commissioners.
who may propose a candidate for the members 6. The majority of members of the Board of Directors
of the Board of Directors are 1 (one) or more have at least 5 (five) years’ experience in banking
shareholders who represent 1/20 (one twenty) or operations (including but not limited to credit,
more of the total shares with voting rights. funding, treasury, risk management, finance, etc.)
3. Appointment Procedures of Members to the Board of as Executive Officers and do not hold concurrent
Directors are as follows: positions in other banks, companies or institutions.
Appointment of the Board of Directors’ members 7. The replacement and/or appointment of members of
must obtain GMS approval and have passed the the Board of Directors of CIMB Niaga has taken into
Fit and Proper Test from OJK, and/or meet other account the recommendation from the Nomination
requirements as set out by other relevant regulators and Remuneration Committee and has obtained
before being declared effective as a Director. approval from the GMS and OJK.
4. Procedures for Dismissal, Replacement and/or 8. All members of the Board of Directors of CIMB Niaga
Resignation of the members of the Board of Directors have no family relationship up to the second degree
are as follows: with fellow members of the Board of Directors and/
a. Proposal for the dismissal, and/or replacement or Board of Commissioners and the Controlling
of members of the Board of Directors submitted Shareholder.
to the GMS must have been recommended 9. All members of the Board of Directors of CIMB Niaga
by the Bank’s Nomination and Remuneration have passed the Fit and Proper Test.
Committee.
b. Members of the Board of Directors may be In general, the total number of members of the Board
dismissed at any time by resolution of the GMS by of Directors has been determined based on the need
stating the reason for dismissal. to achieve the Bank’s goals and objectives, and has
c. Members of the Board of Directors are entitled been adjusted with the Bank’s conditions including its
to resign from their positions by submitting a characteristics, capacity, and size as well as the diversity
written notification regarding their intentions and of the Board of Directors’ members. The number and
reasons for resignation to the Bank no later than composition of the members of the Board of Directors
90 (ninety) days or 3 (three) months prior to the have also considered the need for effective decision-
effective resignation. making.

COMPOSITION OF THE BOARD OF DIRECTORS IN 2020
No Name Position Term of Office

1 Tigor M. Siahaan President Director 2019 - 2023
2 Lee Kai Kwong Strategy, Finance & SPAPM Director 2019 - 2023
3 John Simon Treasury & Capital Market Director 2018 - 2022
4 Vera Handajani Risk Management Director 2020 - 2024
5 Lani Darmawan Consumer Banking Director 2020 - 2024
6 Pandji P. Djajanegara Sharia Banking Director 2020 - 2024
7 Fransiska Oei Compliance, Corporate Affairs & Legal Director 2020 - 2024
8 Tjioe Mei Tjuen* Operations & Information Technology Director 2020 - 2024
9 Rita Mas ‘Oen** Operations & Information Technology Director 2016 - 2020
10 Megawati Sutanto **
Credit Director 2016 - 2020
11 Hedy Lapian** Human Resources Director 2016 - 2020
12 Rahardja Alimhamzah*** Business Banking Director 2017 - 2021
*)
**)
Term of office as Director ended upon the closing of the AGM on 9 April 2020
***)
Resigned as Director on 21 February 2020 and effective upon the closing of the AGM on 9 April 2020
TERM OF OFFICE OF THE BOARD OF b. Tender resignation in accordance with the

DIRECTORS prevailing regulations;
1. The term of office of members of the Board of c. No longer comply with the law and regulation
Directors shall be effective from the date specified requirements;
in the GMS appointing them, until the close of the d. Passed away; and
4th AGM after the date of the appointment without e. Dismissed based on a resolution of the GMS.
prejudice to the right of the GMS to dismiss them at 6. Members of the Board of Directors who have
any time in accordance with Articles of Association completed their term of office may be re-appointed
and the prevailing regulations. after taking into account the prevailing regulations.
2. In the event of vacancies for the members of the Board
of Directors’ position, where the total members of the FIT AND PROPER TEST
Board of Directors is less than 3 (three) persons, then Pursuant to OJK Regulation No. 27/POJK.03/2016 on
the Bank must organize GMS to fulfill such vacancies. the Fit and Proper Test for Main Parties of the Financial
3. The members of the Board of Directors can be Services Institutions, candidates of Board of Directors
dismissed temporarily by the Board of Commissioners members must obtain approval from OJK before
by mentioning the reason of such dismissal. conducting their act, duties and functions as the Board
4. Such temporary dismissal must be conveyed in of Directors. Board of Directors members who have
written to the concerned Board of Directors members, passed the fit and proper test without comments and
and shall be followed up according to the prevailing have received approval from the OJK, shows that each of
regulations. the Board of Directors members has adequate integrity,
5. The position of a member of the Board of Directors competence and financial reputation, as shown in the
shall end in the event of: table below.
a. The expiry of their term of office in accordance
with the provisions in the Bank’s Article of
Association;

Basis of
No Name Position Regulator BI/OJK Approval Effective Date Reappointment
Appointment
1 Tigor M. Siahaan President OJK AGM No. SR-84/D.03/2015, 1 June 2015 AGM
Director 10 April 2015 dated 19 May 2015 15 April 2019
2 Lee Kai Kwong Director OJK EGM No. SR-98/PB.12/2019, 24 April 2019 -
19 December 2018 dated 24 April 2019
3 John Simon Director OJK AGM No. SR-143/D.03/2014, 29 August AGM
27 March 2014 dated 29 August 2014 2014 24 April 2018
4 Vera Handajani Director BI EGM No. 15/113/GBI/DPIP/ 26 November AGM
26 July 2013 Rahasia, dated 26 2013 9 April 2020
November 2013
5 Lani Darmawan Director OJK AGM No. SR-75/D.03/2016, 3 May 2016 AGM
15 April 2016 dated 3 May 2016 9 April 2020
6 Pandji P. Djajanegara Director OJK AGM No. SR-27/PB.13/2016, 28 September AGM
15 April 2016 dated 4 October 2016 2016 9 April 2020
7 Fransiska Oei Director OJK AGM No. SR-138/D.03/2016, 27 July 2016 AGM
15 April 2016 dated 27 July 2016 9 April 2020
8 Tjioe Mei Tjuen Director OJK AGM SR-358/PB.12/2020 dated 3 November -
9 April 2020 3 November 2020 2020
DUTIES, RESPONSIBILITIES, AND Detailed information on the duties, responsibilities and

AUTHORITIES OF THE BOARD OF DIRECTORS authorities of the Board of Directors are stipulated in the
The Board of Directors have the duties, responsibilities Bank’s Articles of Association and the Board of Directors’
and authorities in managing the Bank for the benefit of Charter which has been uploaded on the CIMB Niaga’s
the Bank and in order to achieve the Bank’s vision and website (www.cimbniaga.co.id).
objectives stipulated in its Articles of Association and
prevailing laws and regulations. The Board of Directors
must implement the principles of Good Corporate SCOPE OF WORK AND RESPOSIBILITIES OF
Governance in every business activities of the Bank at all EACH MEMBER OF THE BOARD OF DIRECTORS
levels of the organization. Pursuant to the resolutions of the AGM on 9 April 2020,
particularly in regards to the changes in the composition
The main duties of the Board of Directors include but of the Board of Commissioners and Board of Directors
not limited to: (i) leading and managing the Bank in of the Bank and according to the Law of the Republic
accordance with the objectives of the Bank, (ii) controlling, Indonesia No. 40 of 2017 on the Limited Liability
maintaining and managing the Bank’s assets for the Company, specifically Article 92 paragraph 6 whereas
Bank’s interests, (iii) creating a structure of the Bank’s in the event the GMS does not stipulate, therefore the
internal control at each level of management and follow delegation of duties and authorities of members of the
up on the findings of the internal audit and external Board of Directors shall be determined by the resolution
audit, as well as the regulator’s recommendations in of the Board of Directors. Based on the Circular
accordance with the policies or advice from the Board Resolution of the Board of Directors of the Bank No. 005/
of Commissioners. The authorities of the Board of SIR/DIR/IV/2020 dated 30 April 2020 (SK Direksi No. 005/
Directors, among others, represents the Bank inside SIR/DIR/IV/2020), all members of the Board of Directors
and outside the Bank, binds the Bank with other parties have unanimously decided the delegation of the main
as well as carry out immediate actions both regarding duties and responsibilities of each member of the Board
management and ownership with certain restrictions as of Directors as follows:
described in the Bank’s Articles of Association.

1. TIGOR M. SIAHAAN – PRESIDENT DIRECTOR e. Ensuring that the activities of Strategic

a. Responsible for overall direction, strategy and Procurement & Administration of Property
management of the organization of the Bank, Management (SPAPM) are carried out responsibly
ensuring that all strategies, activities, programs, and support the Bank’s operations efficiently and
services and governance of the Bank are effectively.
implemented in the interest of shareholders,
customers, employees, and communities. 3. JOHN SIMON –TREASURY & CAPITAL MARKET
b. Provide direction and guidance on the policies of DIRECTOR
supporting elements of the Banking’s operations a. Provide direction, guidance and strategy in
and services, information technology, systems implementing all Treasury and Capital Market
and procedures, legal aspects, financial aspects, activities, including trading, market making, short-
and human resources. term liquidity management to meet growth target,
c. Ensuring the implementation of compliance profitability and a competitive market position.
function at all levels of bank operations as well b. Provide direction, guidance and strategy in
as overall implementation of the Bank’s risk implementing the function of ALCO with other
management in order that the Bank hold high ALCO members to manage liquidity, funding, FTP,
ethical standards, adheres to the principles of asset and liability of the Bank to achieve growth
good corporate governance and the practices of and profitability targets of the Bank.
prudential banking c. Maintain good relations with financial institutions,
d. Provide strategic direction in the management customers, communities, and the government,
and development of human resources to improve to assure longevity of the Bank’s image, identify,
the productivity and quality of the Bank’s human anticipate, and respond quickly to optimally utilize
resource to support achieving the business market opportunities.
targets of the Bank; ensuring and preserving
alignment with prevailing labor regulations and 4. VERA HANDAJANI – RISK MANAGEMENT
Bank’s culture. DIRECTOR
a. Provide strategic direction, guidelines and policies
2. LEE KAI KWONG – STRATEGY, FINANCE & on risk management in accordance with current
SPAPM DIRECTOR business developments, prudential principles,
a. Provide strategic direction, guidance and strategy and on the basis of the Bank’s risk characteristics
on the overall financial activities of the Bank, in order to identify, monitor, control, and mitigate
especially in regards to monitoring and evaluating risks accurately, effectively, and comprehensively.
the performance of the Bank and those of b. Monitor all aspects of the Bank’s second line of
subsidiary entities, including the budgeting and defense in credit risk management and ensure
financial management pursuant to the Bank’s the effective implementation of the Bank’s overall
vision and mission. framework for the management of credit risk.
b. Manage the financial performance, capitalization c. Plan, develop, manage, and direct the
and strategic investments of the Bank to optimize execution of process and strategy, policy, credit
profitability, productivity, and total shareholders’ administration, framework, and methodology of
return. credit management holistically to ensure that the
c. Develop and manage the management Bank’s exposure to credit risk is within the Bank’s
information system, accountancy and Risk Appetite.
performance of the Bank to be reported to the d. Review credit proposal, and as a member of the
regulator and communicated to stakeholders. committee related to credit, maintain the quality
d. Carry out effective supervision and planning of of credit portfolio and ensure that all business
the Bank’s financial management and ensuring activities follow the prevailing regulations, policies
reliable accounting practices in accordance to and procedures.
prevailing the standards.

5. LANI DARMAWAN – CONSUMER BANKING d. To provide information to the community on each

DIRECTOR required information particularly related to the
a. Develop strategy and direct the sales and services condition of the Bank as a public-listed company,
of Consumer Banking products in all branch including maintaining the reputation of the Bank
offices of the Bank throughout Indonesia. and acting as liaison or contact person between
b. Optimize market potential through the the Bank and the regulators and the community.
development of Consumer Banking products that e. Responsible for Corporate Social Responsibility
are competitive and innovative to achieve the activities and the implementation of sustainability
profit target as set out by the Bank, by remain including the sustainable finance of the Bank.
ensuring the precautionary aspects, the overall
implementation of all aspects of the Bank’s risk 8. TJIOE MEI TJUEN – OPERATIONS &
management policy and to reach a banking INFORMATION TECHNOLOGY DIRECTOR
business process that is both efficient and a. Establish the Bank’s long-term strategy of
effective. Operations and Information Technology.
c. Ensure the implementation and execution of b. Direct the Operations & Information Technology
the Bank’s strategy in network and innovative Directorate to undertake effectivity and efficiency
expansion is in development of digital channels in the banking transaction operations with a high
and branches, to remain following the market standard, to reach reliability.
development and technologies demands c. Ensure communications fluency with users of
customer needs, and achievement of a good the operational and information technology
market share with a competitive market. processes as required.
d. Ensure implementation of strategy and
6. PANDJI P. DJAJANEGARA – SHARIA BANKING infrastructure of the Information Technology and
DIRECTOR security systems over operations, transactions,
a. Provide strategic direction that is innovative in data information, and digital channels throughout
implementing the operations of Sharia Banking. all business units are fully deployed to minimize
b. Ensure the availability of policies and procedures Bank risks.
on working, development, marketing, product
sales as well as and to manage the Sharia Banking 9. VACANT – BUSINESS BANKING DIRECTOR
functions including to manage of daily operations, a. Establish the business strategy and provide
business development, customer relations, and strategic direction and guidelines for all segments,
manage working systems and processes. products, and services of Business Banking,
c. Ensure the achievement of profit and business comprising of Financial Institution/Non-Bank
growth in line with the Bank’s objective and the Financial Institution, Corporate, Commercial, and
Sharia Banking principles. SME (Small, Medium, Enterprise).
b. Responsible for achieving the funding and lending
7. FRANSISKA OEI – COMPLIANCE, CORPORATE targets of the Bank and increasing cross-selling
AFFAIRS & LEGAL DIRECTOR between those segments and branch offices.
a. Formulate the strategy on compliance, including c. Determine the direction for products that are
those that relate to the policies and principles of competitive, development of services with
compliance. operational support that can accommodate the
b. Ensure that all internal rules of the Bank (policies, demands of the banking industry and advances in
systems and procedures) are aligned with all technology.
relevant external laws and regulations (Bank
Indonesia, OJK and other institutions/authorities),
including regulations of Capital Market.
c. Responsible for managing the Bank’s legal risk.

INDEPENDENCY OF THE BOARD OF Members of the Board of Directors who are responsible
DIRECTORS for the supervision of the Bank’s subsidiaries, may
CIMB Niaga ensures that none of the members of perform functional duties as a member of the Board
the Board of Directors have financial, management, of Commissioners of non-bank subsidiaries controlled
shareholding, or family relationships with fellow members by the Bank, provided that such concurrent position
of the Board of Directors, members of the Board of does not neglecting the execution of their duties and
Commissioners and/or the Controlling Shareholder of responsibilities as a member of the Board of Directors,
the Bank. As such, all members of the Board of Directors and as such is not categorized as a concurrent position.
of the Bank are independent.
The information on concurrent position of the members
In discharging their duties and responsibilities, the of the Board of Directors at subsidiaries in 2020 are
members of the Board of Directors highly adhere to disclosed in the Company Profile Section of this Annual
the principle of independence and place the interests Report.
of the Bank above their personal interests, and conduct
themselves and their work with a high degree of integrity CONFLICT OF INTEREST OF THE BOARD OF
as stipulated in the Board of Directors’ Charter as follows: DIRECTORS
1. Members of the Board of Directors are prohibited During 2020, the Bank ensured that all Board of Directors
to take advantage of the Bank and/or information members did not have a conflict of interest or a potential
obtained from the Bank for personal, family and/ conflict of interest against CIMB Niaga. This is in line
or other parties’ interests that could harm and/or with the Board of Directors’ Charter, that all members
reduce the profits and reputation of the Bank and its of the Board of Directors must avoid potential conflicts
subsidiary. of interest and must not place themselves in a potential
2. Members of the Board of Directors are prohibited position for conflicts of interest in any situation. In the
from taking and/or receiving personal benefits from event of a conflict of interest, the members of the Board
the Bank other than remuneration and other facilities of Directors are prohibited from taking actions that could
determined by the GMS and/or internal policy. harm or reduce the Bank’s profit and must disclose any
3. Members of the Board of Directors are prohibited potential conflict of interest in each decision taken.
from using individual advisors and/or professional
services as consultants unless fulfilling the following Members of the Board of Directors are not authorized to
requirements: represent the Bank if:
a. The project is specific; 1. There is a case in a Court between the Bank and the
b. Based on a clear contract, which at least covers concerned member of the Board of Directors; and/or
the scope of work, responsibilities and duration 2. The concerning Members of the Board of Directors
of work and fees; have a conflict of interest with the interests of the
c. The Consultant is an Independent Party and has Bank.
the qualifications to work for the specific project.
The Bank has procedures that must be followed by
CONCURRENT POSITIONS OF THE BOARD OF members of the Board of Directors in the event of a
DIRECTORS conflict of interest, namely, each member of the Board
All members of the Board of Directors are prohibited of Directors who is personally in any way directly or
from serving concurrently as members of Board of indirectly has an interest in a transaction, contract or
Commissioners, Board of Directors or as Executive proposed contract, where the Bank is one of the parties,
Officers of other banks, companies, and/or institutions must state the nature of the interests in the Board of
except those permitted by the regulation. This matter Directors meeting and will not be allowed to participate
is in accordance with the provisions of OJK Regulation in voting on matters relating to the proposed transaction
No. 55/POJK.03/2016 concerning the Implementation or contract, unless the Board of Directors determines
of Corporate Governance For Commercial Banks. All otherwise.
members of CIMB Niaga’s Board of Directors have no
concurrent positions other than those permitted under
the prevailing regulations.

PARTICIPATION OF MEMBERS OF THE BOARD OF DIRECTORS IN ASSOCIATIONS/

ORGANIZATIONS
Several members of the Bank’s Board of Directors participate actively in various associations or organizations.
Participation of the Board of Directors in associations/organizations as described in the table below, do not cause the
concerning Director to ignore his or her duties and responsibilities as a member of the Board of Directors of the Bank,
and therefore this is not included in the concurrent position category.
Name Position Position in Associations/Organizations

Tigor M. Siahaan President Director • Deputy Chairman of the Indonesian Bankers Association (2019 - present)
• Chairman of Banking, Financial Services and Taxation Sector of APINDO (2018 -
present)
• Chairman of Malaysia Bilateral Committee of KADIN Indonesia (2016 - present)
• Deputy Chairman of PERBANAS (2016 - present)
• Member of the Board of Trustees of Jakarta International School (JIS) (2014 -
present)
• Mentor at Endeavor Indonesia (2012 - present)
• Member of Young Presidents Organization (YPO) Indonesia (2008 - present)
John Simon Treasury & Capital Market • Member of Association Cambiste Internationale the Financial Markets
Director Association of Indonesia (ACI FMA Indonesia)
• Member of Indonesia Foreign Exchange Market Committee (IFEMC)
Vera Handajani Risk Management Director • First Deputy Chairman of the Board of Management of the Bankers Association
for Risk Management (BARA) (2018-2021)
• Member of the Communication Sector of the Board Management of the
Indonesian Bankers Association (IBI) (2019-2023)
Pandji P. Djajanegara Sharia Banking Director • Member of the ASBISINDO Regulatory Committee (2018-2021)
• Board Member of Organizational Sector of PERBANAS (2016 - 2020)
• Member of Research, Study and Publication (RPP) Sector of the Indonesian
Bankers Association (IBI) (2019 - 2023)
Fransiska Oei Compliance, Corporate Affairs & • Chairman of Communication Forum of Banking Compliance Director (FKDKP)
Legal Director (2019-2022)
• Chairman of Legal Sector of the PERBANAS (2016-2020)
• Chairman of the Legal and Regulation Review Section of PERBANAS (2016 -
2024)
• Trustee Member of the PERBANAS Educational Foundation (2018 - 2023)
• Chairman of Supervisory Board of LAPSPI (2016 - RUA 21 Jan 2021)
• Supervisor of the Alternative Arbitration Settlement Court for the Financial
Services Sector (LAPS SJK) (2020 - 2023)
Tjioe Mei Tjuen Operations & Information • Member of Communication Forum of Banking Operations Directors (FKDOP)
Technology Director (2020 - present)
• Member of iCIO – Indonesia CIO (2016 - present)
POLICY ON LOANS PROVISION TO THE 1. Established the strategic steps to achieve the mission
BOARD OF DIRECTORS of the Bank to provide universal banking services in
The Bank may provide loans to the members of Board Indonesia in an integrated manner that among others
of Directors following the normal pricing policy and include: (i) Focus on core competence, (ii) focus on
conditions, as conducted to the non-related parties of the growing low-cost funds, (iii) increasing efficiency and
Bank. Loans to the members of the Board of Directors discipline in managing cost, (iv) balancing of risk,
will be calculated as the CIMB Niaga’s Legal Lending Limit compliance culture and capital adequacy, and (v)
in accordance with BI Regulation No. 8/13/PBI/2006. This strengthening the use of technology and information.
policy is regulated in the Board of Directors’ Charter. 2. Engaged in syndicated loans by managing credit
risk and improving infrastructure to encourage the
IMPLEMENTATION OF THE DUTIES AND growth of business banking customers.
RESPONSIBILITIES OF THE BOARD OF 3. Enhanced the customer experience, as part of the
DIRECTORS IN 2020 Bank’s efforts at becoming a leader in innovation and
Other than implementing the GMS resolutions that digital banking services.
was conducted in 2020, the execution of the duties and 4. Increased branchless banking deliveries, among
responsibilities of the Board of Directors in 2020 are others through the optimization and addition of the
including the followings: ATM, CRM and CDM equipment and the development

of digital-based products and services such as OCTO for Management and Officers of Commercial Banks.
Clicks, OCTO Mobile, BizChannel, and Bizlite. Members of the Board of Directors and Board of
5. Strengthened IT Security systems in securing the Commissioners are required to take the competence
Bank’s confidential data, enhanced the capabilities test/certification pursuant to the rules of the Regulator,
of the Security Operations Center in monitoring and namely the Risk Management Certification and its
countering cyber crimes. Refreshment programs.
6. Ensured that Business Continuity Management and
Business Continuity Plan are prepared and practiced All members of the Board of Directors as of 31 December
throughout CIMB Niaga’s business lines so that 2020 have had their Risk Management Certificate and/or
the organization can continue to operate in a crisis Refreshment Program as shown in the Company Profile
situation at a certain reasonable level to continue to Section of this Annual Report.
provide banking services.
7. Considered the spreading of COVID-19 since the TRAINING AND COMPETENCY DEVELOPMENT
beginning of 2020 and its impact on all aspects of PROGRAM
humanity including public health, and business All CIMB Niaga’s members of the Board of Directors
continuity in many sectors. The Bank increased its are committed to improve their competences in order
vigilance over (i) protecting employees’ health and to support the implementation of their daily duties
welfare, (ii) maintaining liquidity, (iii) asset quality, and responsibilities. This commitment is reflected in
(iv) cost management, (v) support the government the training attended by each member of the Board of
programs to ensure economic and business Directors in 2020, which are disclosed in the Company
continuity, and (vi) transformation and digitalization. Profile Section of this Annual Report.
8. Continued with the Bank’s transformation program
that has started since 2019. The Bank has carried out INDUCTION PROGRAM FOR NEW MEMBERS OF
a transformation program that is oriented towards THE BOARD OF DIRECTORS
short, medium, and long-term growth by relying The orientation program for new members of the Board
on new technologies, agile development and data of Directors is stipulated in the Board of Directors’
analytics and focusing on the customer experience. Charter. Newly appointed members of the Board of
The transformation program is expected to raise the Directors must participate in an Induction Program in
performance of the Bank to the next level. order to gain an understanding of the Bank so they can
carry out their duties effectively and efficiently.
DEVELOPMENT PROGRAMS OF THE BOARD
OF DIRECTORS The induction program materials are prepared by the
In order to accommodate the enhancement of Corporate Affairs unit, and include:
professional knowledge, competence and leadership of 1. Bank’s Vision and Mission.
members of the Board of Directors to align with the latest 2. Bank’s Code of Ethics and Conduct.
development in the industry and of Good Corporate 3. Bank’s Organizational Structure.
Governance. The programs are meant to support the 4. Bank’s Articles of Association.
duties of the Board of Directors to achieve sustainable 5. Corporate Policy Manual (GCG Charter)
growth and effective management of the Bank as 6. Board of Directors’ Charter and Committees under
stipulated in the Board of Directors Charter. the Board of Directors’ Charter.
7. Regulations related to the Banking and Capital
RISK MANAGEMENT CERTIFICATION Markets.
CIMB Niaga carries out the Risk Management 8. Bank’s Annual Report.
Certification for members of the Board of Directors 9. Bank’s Business Plan.
pursuant to the Employment Regulation (P2K)
concerning Implementation of Employee Learning and
BI Regulation No. 11/19/PBI/2009 dated 4 June 2009 and
its amendment in BI Regulation No. 12/7/PBI/2010 dated
19 April 2010 concerning Risk Management Certification

To improve the quality and effectiveness of the induction programs, the Bank has developed a digital induction program
(e-Learning), through Learning on the Go (LoG) application which is accessible by Director candidate at any time. In
2020, the Orientation Program was carried out by CIMB Niaga for 1 (one) new member of the Board of Directors, namely
Tjioe Mei Tjuen.
PERFORMANCE ASSESSMENT OF COMMITTEES UNDER THE BOARD OF DIRECTORS
PERFORMANCE ASSESSMENT POLICIES AND PROCEDURES FOR THE COMMITTEES UNDER THE BOARD OF
DIRECTORS (EXECUTIVE COMMITTEES)
Criteria and basis for consideration in the performance assessment of the Executive Committees, based on respective
Term of Reference (TOR) are as follows:
1. Number of meetings held;
2. Board of Directors’ attendance;
3. SLA of Minutes of Meeting;
4. Action on Matters Arising; and
5. Distribution of the meeting invitation.
Throughout 2020, the implementation of the duties, responsibilities and discussions of the Executive Committee
meetings were considered well done and effective. The attendance of the Board of Directors in Committee meetings
during 2020, including decisions taken during the discussion of the meeting can also be used as a reference.
PERFORMANCE ASSESSMENT RESULTS OF EXECUTIVE COMMITTEE IN 2020
Executive Committee Score

Risk Management Committee (RMC) 495
Asset & Liability Committee (ALCO) 470
Information Technology Steering Committee (ITSC) 445
Credit Policy Committee (CPC) 460
Performance Rating
1. Excellent > 470 – 500
2. Good 400 - < 470
3. Fair 300 - < 400
4. Poor 200 - < 300
5. Very Poor < 200
The assessments on the performances of the Bank’s Internal Audit Unit and Risk Management Unit are presented in
more details in the Internal Audit Unit and Risk Management Unit report in the Good Corporate Governance Report
Section of this Annual Report.

PERFORMANCE ASSESSMENT ON THE BOARD OF

COMMISSIONERS AND BOARD OF DIRECTORS
BOARD OF COMMISSIONERS’ (INCLUDING b. Effectiveness in the implementation of duties and
THE PRESIDENT COMMISSIONER) responsibilities
c. Leadership
PERFORMANCE ASSESSMENT
The performance of the Board of Commissioners
3. Performance Assessment of the President
including the President Commissioner in carrying out
Commissioner
their functions, duties and responsibilities are regularly
President Commissioner assessment criteria shall
evaluated and reported to the Shareholders.
include:
a. Effectiveness in the implementation of duties and
PERFORMANCE ASSESSMENT POLICIES AND
responsibilities
PROCEDURES FOR BOARD OF COMMISSIONERS b. Leadership
CIMB Niaga assess the performance of the Board
of Commissioners through online survey, and all
PARTIES PERFORMING THE PERFORMANCE
assessment results are confidential and anonymous.
ASSESSMENT FOR BOARD OF COMMISSIONERS
The parties involved in the performance assessment of
The performance assessment of the Board of
the Board of Commissioners are as follow:
Commissioners is conducted annually (at least once a
year), and includes:
1. Collegial Performance Assessment of the Board
1. Collegial performance assessment of the Board of
of Commissioners
Commissioners;
The assessment is carried out by each Commissioner
2. Individual performances assessment of each member
on the overall performance of the Board of
of the Board of Commissioners; and
Commissioners.
3. Performance assessment of the President
Commissioner.
2. Individual Performances Assessment of the
The performance assessment results are expected to
Each Commissioner provides an assessment for each
contribute to the continuous performance of the Board
other Commissioners.
of Commissioners’ performance.
3. Performance Assessment of the President
PERFORMANCE ASSESSMENT CRITERIA FOR
Commissioner
BOARD OF COMMISSIONERS The assessment is carried out by each Commissioners
The criteria applied in the performance assessment on the performance of the President Commissioner.
of the Board of Commissioners (including that of the
President Commissioner) are as follow: The final evaluation of collegial and individual
performance assessment of the Board of Commissioners
1. Collegial Performance Assessment of the Board including the performance assessment of the President
of Commissioners Commissioner are presented by the Nomination and
Collegial assessment criteria shall include: Remuneration Committee in the Board of Commissioners
a. Effectiveness of the Board of Commissioners’ role meeting. President Commissioner may provide feedback
b. Effectiveness in implementation of duties and or improvements on the collegial and individual
responsibilities performance assessment of the Board of Commissioners
c. Effectiveness of the Board of Commissioners’ if deemed necessary.
meetings
d. Implementation of Good Corporate Governance
PERFORMANCE ASSESSMENT RESULTS FOR BOARD
and Sustainability Principles
e. Effectiveness of Risk Management and Internal
OF COMMISSIONERS IN 2020
In 2020, the Board of Commissioners had performed
Control implementation
its supervisory functions well in ensuring that the Bank
performed within the expectations of the shareholders
2. Individual Performances Assessment of Each
and all other stakeholders. In detail, the results of the
Member of the Board of Commissioners
collegial and individual performance assessment of the
Individual assessment criteria shall include:
Board of Commissioners were as follows:
a. Competency and capability
Individual Assessment
Collegial Assessment President Commissioner
(Average)
4.0 4.3 3.7

Pursuant to the commitment of the Bank to implement Good Corporate Governance principles, GCG implementation
was one of the aspects assessed in the collegial performance assessment of the Board of Commissioners. In 2020, the
assessment result of the implementation of GCG by the Board of Commissioners was 4.2.
Scoring Range
Scoring Range Description

> 4.7 Exceptional
4.0 – 4.6 Outstanding
3.7 – 3.9 Exceeded Expectation
3.0 – 3.6 Met Expectation
ASSESSMENT OF GCG IMPLEMENTATION PERFORMANCE ASSESSMENT CRITERIA FOR

ON THE ASPECT OF THE BOARD OF BOARD OF COMMISSIONERS
COMMISSIONERS The performance assessment of the Board of
The assessment on the implementation of GCG by the Commissioners follow the governance system that is
Board of Commissioners is based on provisions of OJK classified into 3 (three) aspects, namely Governance
No. 55/POJK.03/2016 and No. 13/SEOJK.03/2017 that Structure, Governance Process, and Governance
require Commercial Banks to perform self-assessment Outcome.
on Bank Governance.
PERFORMANCE ASSESSMENT PROCEDURES FOR The GCG self-assessment involves the Board of
Commissioners, Independent Parties, Board of Directors,
Executive Officers, and the independent functions,
The performance assessment of the Board of
coordinated by the Compliance Unit.
Commissioners is part in the GCG self-assessment of the
Bank which are conducted periodically in every semester,
in June and December in the current year.
RESULT OF THE PERFORMANCE ASSESSMENT OF THE BOARD OF COMMISSIONERS
Self-Assessment Results
Bank’s Governance Implementation
Description Rating
Duties and Responsibilities Implementation of the Board of Commissioners 2 (GOOD)
RECOMMENDATION AND ACTION PLAN PERFORMANCE ASSESSMENT POLICIES AND

The structure and composition of the members of the PROCEDURES FOR BOARD OF DIRECTORS
Bank’s Board of Commissioners and Committee at CIMB Niaga conducted the performance assessment
the level of the Board of Commissioners, have meet of each member of the Board of Directors, including
the minimum requirement, and equipped with all of the President Director, to monitor the strategy
the infrastructure (charter, guidelines, policies and implementation and performance of the Bank each year.
procedures) to support the implementation of duties and The performance indicators of each member of the Board
responsibilities of the Board of Commissioners. In 2020, of Directors are determined using a Balanced Scorecard
there was a change in the composition of the Board of approach, in which the aspirations and strategic goals of
Commissioners in compliance with OJK regulations and the Bank are translated into Key Performance Indicators
the Board of Commissioners Charter as the working (KPI) in accordance with each member of the Board of
guidelines of the Board of Commissioners is reviewed Directors’ duties and responsibilities, take into account
periodically. During 2020, no recommendations had not the collegial and individual responsibilities for financial
been followed up by the Board of Commissioners. or non-financial. The KPIs set are mutually agreed upon
by the Board of Directors, and with a recommendation
BOARD OF DIRECTORS’ (INCLUDING THE from the Nomination and Remuneration Committee,
PRESIDENT DIRECTOR) PERFORMANCE which approved by the Board of Commissioner. The KPI
are cascaded down to all employees to ensure alignment
ASSESSMENT
The performance of the Board of Directors including with the goals and strategies of the Bank.
the President Director in accomplishing their functions,
duties and responsibilities are regularly evaluated and
reported to the Shareholders.

The individual performances assessment of each PERFORMANCE ASSESSMENT CRITERIA FOR

member of the Board of Directors at the end of the year BOARD OF DIRECTORS
are submitted to the Nomination and Remuneration The criteria applied in the performance assessment of
Committee for their input and recommendations the Board of Directors (including the President Director)
before being submitted for approval by the Board of includes:
Commissioner.
1. Collegial Performance Assessment of the Board
In the past several years, the Bank had also carried out of Directors
collegial performance self-assessment of the Board of Collegial assessment criteria shall include:
Directors using online survey. a. Effectiveness of the Board of Directors’ Role
b. Effectiveness in the Strategy and Management
All results are treated confidentially and anonymously. Implementation of the Bank
The assessment results are discussed in the Board c. Effectiveness of the Board of Directors’ Meetings
of Directors meeting and at the Nomination and d. Implementation of Good Corporate Governance
Remuneration Committee for inputs on continuous and Sustainability Principles
improvements on the Board of Directors performance. e. Effectiveness of Risk Management and Internal
Control Implementation
All performance assessments of the Board of Directors,
both individually and collegially are conducted out at 2. Individual Performances Assessment of the
least once a year. Board of Directors
Components applied in the individual performance
assessment of each Director (including the President
Director) are as follows:
Directorate
Business Unit Business Enabler
Performance Finance &

No Commercial Operations Compliance, Strategic
Parameter Consumer Treasury
President Banking* Sharia Risk and Corporate Procurement Transformation
Banking and Capital
Director (Corporate Banking Management Information Affairs & and Admin & Strategy**
(Retail) Market
and SME) Technology Legal Property
Management**
1 Shared Target - 10% 10% 10% 10% 10% 10% 10% 10% 10%
2 Financial 40% 35% 40% 40% 45% 10% 15% 10% 20% 10%
3 Customer 10% 15% 20% 20% 15% 10% 10% 20% 10% 10%
4 Key Focus Areas 15% - - - - 30% 35% 30% 30% 50%
5 Risk & Compliance 25% 30% 20% 20% 20% 30% 20% 20% 20% 10%
6 Learning & Growth 10% 10% 10% 10% 10% 10% 10% 10% 10% 10%
Note:
*
Business Banking is in charge of the Corporate Banking, Commercial Banking and SME Banking
**
Managed by 1 (one) Director
PARTIES PERFORMING THE PERFORMANCE 2. Individual Performances Assessment of the

ASSESSMENT OF THE BOARD OF DIRECTORS Board of Directors
The parties involved in the performance assessment of The President Director carries out the performances
the Board of Directors are as follow: assessment of each Directors. The individual
assessment results for all Directors (including the
1. Collegial Performance Assessment of the Board President Director) will be discussed in the Nomination
of Directors and Remuneration Committee for input and
Each Directors provides an assessment on the Board recommendation before the results are submitted to
of Director’s collegial performance. The results shall the Board of Commissioner for approval.
be discussed in the Board of Directors’ meeting, with
follow-up improvements or action plans (if necessary).
The President Director/appointed officer, present the
results of the collegial performance assessment of the
Board of Directors, with improvement plan (if any) to
the Board of Commissioners and the Nomination and
Remuneration Committee for input and approval.

PERFORMANCE ASSESSMENT RESULTS FOR BOARD OF DIRECTORS IN 2020

In general, the result of the individual performances assessment of the Board of Directors in 2020 was good, as well as
the result of the collegial performance assessment of the Board of Directors was also good, with a score of 3.8.
In addition, as form of the Bank’s commitment to implement Good Corporate Governance principles, the GCG
implementation was one of the aspects being evaluated in the collegial performance assessment of the Board of
Directors. In 2020, the assessment result for the implementation of GCG by the Board of Directors was 4.0.
Scoring Range
Scoring Range Description

> 4.7 Exceptional
4.0 – 4.6 Outstanding
3.7 – 3.9 Exceeded Expectation
3.0 – 3.6 Met Expectation
ASSESSMENT OF GCG IMPLEMENTATION ON THE ASPECT OF THE BOARD OF DIRECTORS

The assessment on the implementation of GCG by the Board of Directors is based on provisions of OJK No. 55/
POJK.03/2016 and No. 13/SEOJK.03/2017 that require Commercial Banks to perform self-assessment on Bank
Governance.
PERFORMANCE ASSESSMENT PROCEDURES FOR BOARD OF DIRECTORS

The performance assessment of the Board of Directors is inherent in the GCG self-assessment by the Bank which is
conducted periodically in every semester, in June and December in the current year.
ON PERFORMANCE ASSESSMENT CRITERIA FOR BOARD OF DIRECTORS

The performance assessment of the Board of Directors follow the governance system that is classified into 3 (three)
aspects, namely Governance Structure, Governance Process, and Governance Outcome.

The GCG self-assessment involves the Board of Commissioners, Independent Parties, the Board of Directors, Executive
Officers, and the independent functions, coordinated by the Compliance Unit.
RESULTS OF THE PERFORMANCE ASSESSMENT OF THE BOARD OF DIRECTORS
Self-assessment Result
Bank’s Governance Implementation
Description Rating
Duties and Responsibilities Implementation of the Board of Directors 2 (GOOD)
RECOMMENDATION AND ACTION PLAN

The structure and composition of the members of the Board of Directors of the Bank meet the minimum requirement,
and equipped with all of the infrastructure (charter, guidelines, policies and procedures) to support the implementation
of duties and responsibilities of the Board of Directors. The Board of Directors manages the Bank with the authorities
and responsibilities as provided for in the Bank’s Articles of Association and pursuant to prevailing laws and regulations.
The Board of Directors’ Charter, which serves as the working guidelines of the Board of Directors, is reviewed periodically.
The Bank has formed the Executive Committee in order to supports the implementation of the duties and responsibilities
of the Board of Directors. The Board of Directors had followed up the audit findings and the recommendations of the IA,
external auditors, and the results of audit by authorities. In the annual governance report, the members of the Board of
Directors have disclosed all transparency aspects that are mandated by regulations, pertaining to affiliated relationship
and share ownership by the management of the Bank.
In 2020, there was a change in the composition of the Board of Directors in compliance with the provisions of OJK and
the Board of Directors’ Charter as the working guideline of the Board of Directors is reviewed periodically. In 2020, no
recommendations that had not been followed up by the Board of Directors.

POLICY ON THE DIVERSITY OF THE BOARD OF

The diversity in the composition of members of the Board of c. 1 (one) member who has expertise/work experience/
Commissioners and the Board of Directors of CIMB Niaga, education in the field of risk management.
as stipulated in the Appendix of the OJK Circular Letter 2. Nationalities
No. 32/SEOJK.04/2015 on the Guidelines of the Corporate The majority (more than 50% (fifty percent)) of the
Governance for Public Listed Companies, has been members of the Board of Commissioners shall be
accommodated in the Articles of Association of the Bank. Indonesian.
3. Gender
The diversity of the composition of the Board of Pays attention to gender diversity of the members of
Commissioners and the Board of Directors is a the Board of Commissioners.
combination of the required characteristics both 4. Age
collegially and individually, in accordance with the Bank’s Members of the Board of Commissioners shall have
needs. The Bank also appoints members of the Board of diversity in ages.
Commissioners and Board of Directors by considering the 5. Independence
experience and understanding of the banking industry, a. A minimum of 50% (fifty percent) of the Board
integrity, and dedication of each individual. of Commissioners shall be Independent
Commissioners.
This combination should take into account the appropriate b. The term of office of an Independent
expertise, knowledge and experience when distributing Commissioner shall be 2 (two) consecutive terms
the duties and functions to the Board of Commissioners or a maximum of 9 (nine) years.
and Board of Directors, in achieving the objective of the
Bank. Consideration of these characteristics will have an DIVERSITY IN THE COMPOSITION OF THE
impact on the accuracy of the nomination process and BOARD OF DIRECTORS
the appointment of individual members of the Board of The diversity factors in the composition of the members
Commissioners and the Board of Directors or the Board of the Board of Directors include:
of Commissioners and the Board of Directors collegially.
1. Expertise/Experience/Education, shall have at least:
When the diversity in the composition of members of a. 1 (one) member who has expertise/work
the Board of Commissioners and Board of Directors of experience in the banking industry or expertise/
the Bank is appropriate and is in accordance with the work experience/education in the field of
Bank’s needs, it will support the effectiveness of the economy/business,
Board of Commissioners and Board of Directors duties b. 1 (one) member who has expertise/work experience/
and responsibilities implementation, and will support the education in the field of risk management,
achievement of the Bank’s vision and mission to grow c. 1 (one) member who has expertise/work experience/
and develop. The Bank has governed the diversity in the education in the field of finance/accounting.
composition of members of the Board of Commissioners 2. Nationalities
and the Board of Directors in its Policy on the Diversity in the The majority (more than 50% (fifty percent)) of the
Composition of Members of the Board of Commissioners members of the Board of Directors shall be Indonesian.
and the Board of Directors (No. M.07 Version 02.2020). 3. Gender
Pays attention to gender diversity of the members
DIVERSITY IN THE COMPOSITION OF THE of the Board of Directors, with a minimum of 1 (one)
BOARD OF COMMISSIONERS female or male member.
The diversity factors in the composition of the Board of 4. Age
Commissioners includes: Members of the Board of Directors shall have diversity
in ages.
1. Expertise/Experience/Education, shall have at least: 5. Independence
a. 1 (one) member who has expertise/work The President Director shall be independent of the
experience/education in the fields of economy/ Bank’s controlling shareholders.
business/finance, and/or
b. 1 (one) member who has expertise/work
experience/education in the banking industry, and

Diversity Aspects of Members of the Board of Commissioners

Nationality Consists of:
4 (four) members of the Board of Commissioners are Indonesian citizens.
1 (one) member of the Board of Commissioners is a Malaysian citizen.
1 (one) member of the Board of Commissioners is a United States citizen.
Education The level of education of the members of the Board of Commissioners includes Bachelor and Postgraduate degrees
in economics, business management, risk management, and finance.
Work Experience A diverse working experience that includes:
1. Members of the Board of Commissioners and/or Board of Directors and/or Officials or Senior Executives or other
key positions in national and multinational financial and non-financial institutions;
2. Officials or Members/Chairman of Committee/Special Teams or Expert Staff or occupy other important positions
in Government Institutions, such as IBRA, Ministry of Finance and Bank Indonesia;
3. Lecturers and Vice Deans of leading universities both at home and abroad.
Independency 1. There are 3 (three) Independent Commissioners out of 6 (six) members of the Board of Commissioners, or 50%
(fifty percent) of the Board of Commissioners are Independent Commissioners.
2. All Independent Commissioners have served less than 9 (nine) years.
Age The age diversity of members of the Board of Commissioners is in a fairly productive and mature ages, ranging from
51 to 65 years old.
Gender There is 1 (one) female Independent Commissioner.
Diversity Aspects of Members of the Board of Directors

Nationality Consists of:
7 (seven) members of the Board of Directors are Indonesian citizens.
1 (one) member of the Board of Directors is a Malaysian citizen.
Education The level of education comprises of Bachelor’s and Master’s degrees in various academic fields that include
economics, finance, law, commerce, business, accounting, computer science & statistics and others.
Work Experience A diverse range of work experiences, including:
1. Members of the Board of Directors of national and multi-national financial and non-financial institutions.
2. Key positions in national and foreign banks, including, Chief Country Officer, Head of Finance and Planning, Head of
Trading & Structuring, Head of Treasury, Head of Operational Risk, Head of Financial Institutions Credit, Consumer
Banking Country Head, Head of Network, Chief of Sharia Banking, Operations & Technology Head and others.
3. Founder and Senior Partner in a Law Firm.
4. Auditor.
All members of the Board of Directors have working experience in banking.
Independency All members of the Board of Directors are not affiliated with the fellow members of the Board of Directors, members
of the Board of Commissioners and the Ultimate and Controlling Shareholder of the Bank.
Age The age diversity of members of the Board of Directors is in a fairly productive and mature ages, ranging from 49
to 63 years old.
Gender There are 4 (four) female members, of the total 8 (eight) members of the Board of Directors.
ACHIEVEMENT OF THE POLICY ON DIVERSITY IN THE COMPOSITION OF THE BOARD OF

The current compositions of the Bank’s Board of Commissioners (BOC) and Board of Directors (BOD) have fulfilled the
above diversity aspects and are aligned with the Bank’s strategy, vision and mission, as shown in the table below:
Age of the BOC Age of the BOD

(%) (%)
50 50
50 50
51 - 60 years 61 - 70 years 45 - 55 years 56 - 65 years

Gender of the BOC Gender of the BOD

(%) (%)
17
50
83 50
Male Female Male Female
Nationality of the BOC and BOD Education/Skill of the BOC and BOD
11 11
2
1
Indonesian Malaysian USA Bachelor Master
Independency of the BOC Expertise of the Commissioners & Directors

(%)
1 3
1
50
1
1
2
50
Non-independent Commissioner Business Risk Management Economy
Independent Commissioner Management Computer Science Medical
Law

REMUNERATION POLICY
The Bank is committed in implementing a competitive, fair, conditions, industry developments, performance and
risk-based remuneration system based on prevailing laws financial capacity of the Bank. As a result, the main risk
and regulations, while always ensuring that no individual profile has an impact on the implementation of variable
receives compensation below the minimum wages set by remuneration.
the government. Accordingly Bank has established and
implemented the Risk-Based Remuneration Policy No. The Bank’s remuneration policy covers and applies
A.06.02 since October 2017, which was amended on 1 to employees in business, operational and support
December 2018 by adding Sharia principles to the policy. functions, set accordingly with POJK No. 45/
POJK.03/2015, SEOJK No. 40/SEOJK.03/2016, and POJK
The Bank did not use external consultants to prepare No. 59/POJK.03/2017 concerning the Implementation of
its remuneration policy. However, to maintain Governance in Providing Remuneration for Commercial
competitiveness, the Bank performed remuneration Banks and Sharia Business Units, whereby the policy
benchmarking through independent party surveys. The regulates:
Bank’s remuneration policy is based on performance, 1. Prudential principle in the provision of risk-based
competitiveness, fairness and risk-based, in accordance remuneration.
with POJK No. 45/POJK.03/2015 on the Implementation 2. The application of variable remuneration in
of Governance in Providing Remuneration in Commercial accordance with regulatory provisions regarding the
Bank, OJK Circular Letter No. 40/SEOJK.03/2016 implementation of remuneration for Commercial
on Implementation of Governance in Providing Banks and Sharia Business Units.
Remuneration in Commercial Bank as well as POJK No.
59/POJK.03/2017 on Implementation of Governance DETERMINATION OF REMUNERATION BASED
in Providing Remuneration in Sharia Bank and Sharia ON PERFORMANCE AND RISK
Business Unit. CIMB Niaga sets employee performance assessment
using the Key Performance Indicator (KPI) approach. The
OBJECTIVES AND BACKGROUND KPIs are set based on the Bank’s, Directorate’s objective
Employee remuneration policy is an important aspect in and strategy, as well as taking into consideration risk,
attracting, motivating and retaining the best talents at compliance and good corporate governance. The Bank
CIMB Niaga, as part of the effort to ensure the availability conducts periodic evaluations and reviews of performance
of qualified human capital. The Bank sets remuneration achievement that used as a consideration in determining
policies for the Board of Commissioners, the Board remuneration. The Bank has been implementing risk-
of Directors and employees, comprising both the based remuneration with the establishment of Material
mandatory components as well as additional benefits, Risk Taker (MRT), as well as the implementation of a
in accordance with prevailing laws and regulations. deferred payment scheme.
The remuneration policy also take into consideration
of short-term and long-term liquidity requirements, REVIEW AND INDEPENDENCY OF
capital adequacy and strength, financial stability, risk REMUNERATION POLICY IMPLEMENTATION
management effectiveness, as well as potential future CIMB Niaga reviews employee remuneration and benefit
revenues. system by taking into account the following aspects:
1. The Bank’s performance and financial condition
RISK-BASED REMUNERATION POLICY 2. Employee’s competency and performance
CIMB Niaga implements remuneration strategy that (meritocracy)
includes a review of remuneration policies based 3. Peer remuneration practices (market competitiveness)
on performance, risk, and empowerment. The Bank 4. Eligibility and suitability in accordance with the
implements policies and procedures of employee position
benefit program as part of the remuneration strategy 5. Internal equity
by taking risk profile in consideration. The main risk 6. Risk level attached to the position
types in the remuneration policy were adjusted in line 7. The Bank’s long-term strategy
with the annual Bank’s risk profile by reviewing market

To ensure the independency of remuneration for all DETERMINATION OF MATERIAL RISK TAKER
employees, including employees in the control units, The Material Risk Taker (MRT) category is determined as
the Bank ensures that performance evaluations and follow:
remuneration determination are conducted through 1. MRT is determined using qualitative method according
supervision and review up to the Nomination and with the portion of responsibility that affects the main
Remuneration Committee. risk profile as determined based on the Bank’s annual
risk profile evaluation.
The Bank periodically reviews and communicates its 2. MRT category is also determined quantitatively by
Wages Structure and Scale in accordance with the comparing variable remuneration between MRT
Minister of Manpower Regulation No. 1 Year 2017 and non-MRT employees with consideration of
concerning Wages Structure and Scale. In addition, performance and also the level of risk attached to the
the Bank implemented remuneration policy by taking position concerned.
into account POJK No. 45/POJK.03/2015, POJK No.
59/POJK.03/2017 and SEOJK No. 40/SEOJK.03/2016 All members of the Board of Directors as well as any
concerning Implementation of Governance in the employee meeting the above definitions are determined
Provision of Remuneration in Commercial Bank and as MRT, whereby currently there are 11 (eleven)
Sharia Business Unit. individuals in the Bank classified as MRT.
BOARD OF COMMISSIONERS’ REMUNERATION
PROCEDURE FOR DETERMINING THE BOARD OF COMMISSIONERS’ REMUNERATION
GMS decided
Board of Remuneration of the

GMS
Commissioners Board Commissioners
2 3
Board of Commissioners Implemented by the

proposed to GMS Board of Directors
1
Nomination and
Remuneration
The Nomination and

submit recommendations
and proposals to the Board of
Commissioners
The Bank prepares the structure, policies, and amount of remuneration for each member of the Board of Commissioners
after taking into account their duties, authorities, performance, and responsibilities. In addition, the Bank also considers
the remuneration applicable in the similar industries (peers group) and the Bank’s capabilities.
BOARD OF COMMISSIONERS’ REMUNERATION POLICY

The procedures for determining the remuneration for the Board of Commissioners are as follows:
1. The Nomination and Remuneration Committee conducts discussions regarding the Board of Commissioners’
remuneration after taking into account information on the range and remuneration standards with similar industries
(peers group) and the Bank’s capabilities;
2. The Committee provides recommendations for further discussion at the Board of Commissioners’ meeting;

3. The Board of Commissioners studies the recommendations from the Nomination & Remuneration Committee and
proposes to the GMS; and
4. The GMS determines the remuneration for the Board of Commissioners, to be further implemented by the Board of
Directors.
BOARD OF COMMISSIONERS’ REMUNERATION STRUCTURE

The Board of Commissioners’ remuneration structure consists of an honorarium, meeting allowances, position
allowances, transportation allowances, feast day allowances, year-end benefits, and other facilities such as medical,
communication, and club membership. Based on the decision at the 2020 AGM, detailed information for members of
CIMB Niaga’s Board of Commissioners’ remuneration and other facilities is as follows:
1. Remuneration Packages and Other Facilities
Amount Received in 1 Year by Non-Independent Commissioners

Type of Remuneration and Other Facilities 2020 2019
Person Rp (million) Person Rp (million)
Remuneration (salary, routine allowance, tantiem, and other non- 3*) 4,934 4 5,384
natura facilities)
Other natura facilities (housing, transportation, health insurance, etc.)
which:
a. Could be owned - - - -
b. Could not be owned - - - -
Total 3*)
4,934 4 5,384
*)
Including remuneration for Non-Independent Commissioner that are no longer in position.
Amount Received in 1 Year by Independent Commissioners

Remuneration (salary, routine allowance, tantiem, and other non-natu- 5*) 7,892 4 7,082
ra facilities)
which:
Total 5*)
7,892 4 7,082
*) Including remuneration for Independent Commissioner that are no longer in position.
Total Non-Independent Total Independent

Remuneration Per Person Commissioners Commissioners
2020 2019 2020 2019
Above Rp5 billion - - 0 -
Above Rp2 billion up to Rp5 billion 1 - 2 3
Above Rp1 billion up to Rp2 billion 1 3 1 -
Above Rp500 million up to Rp1 billion - - 2 -
Below Rp500 million 1 1 0 1

2. Variable Remuneration for the Board of Commissioners
Amount Received in 1 Year Amount Received in 1 Year

by Non-Independent Commissioners by Independent Commissioners
Variable
Remuneration* 2020 2019 2020 2019
Person Rp (million) Person Rp (million) Person Rp (million) Person Rp (million)
Total Nil Nil Nil Nil Nil Nil Nil Nil
*)
Remuneration based on performance and risk (such as bonuses)
All members of Board of Commissioners (including Independent Commissioners) of CIMB Niaga did not receive any
variable remuneration (shares or bonuses, both based of performance or non-performance as well as shares option).
BOARD OF DIRECTORS’ REMUNERATION
PROCEDURE FOR DETERMINING THE BOARD OF DIRECTORS’ REMUNERATION
proposed to the GMS
5 2
Remuneration of the
Board of Commissioners GMS
Board of Directors
1 4
GMS authorised the Board of
Commissioners with regard to
the Nomination & Remuneration
Committee’s Recommendation
Nomination and
The Nomination and

Remuneration Committee submit
recommendations and proposals
to the Board of Commissioners
CIMB Niaga prepares the structure, policies, and amount of remuneration for each member of the Board of Directors
after taking into account their duties, authorities, performance, and responsibilities. In addition, the Bank also considers
the remuneration applicable in the similar industries (peers group), Bank’s performance, individual performance of
each Board of Directors member, and the Bank’s capabilities.
BOARD OF DIRECTORS’ REMUNERATION POLICY

The procedures for determining the remuneration for the Board of Directors are as follows:
1. The Nomination and Remuneration Committee conducts discussions regarding the Board of Directors’ remuneration after
taking into account information on the range and remuneration standards with similar industries (peers group), Bank’s
performance, each Director’s performance and risk in achieving the predetermined KPIs, and the Bank’s capabilities.
2. The Nomination and Remuneration Committee provides recommendations for further discussion at the Board of
Commissioners’ meeting.
proposes to the GMS.
4. The GMS determines the remuneration for the Board of Directors by granting authority to the Board of Commissioners
to determine the Board of Directors’ remuneration after taking into account the Nomination and Remuneration
Committee’s recommendations, to be further implemented by the Board of Directors.
INDICATORS TO DETERMINE THE BOARD OF DIRECTORS’ REMUNERATION

Indicators for determining the Board of Directors’ remuneration are based on Bank’s performance, which includes
financial performance, the Bank’s soundness level and appropriate risk governance in accordance with regulations.
The remuneration is also determined by considering national economic conditions. The performance indicators are
described in detail in the Performance Assessment on the Board of Commissioners and the Board of Directors section
in this Annual Report.
THE BOARD OF DIRECTORS’ REMUNERATION STRUCTURE

The remuneration structure for Board of Directors consists of salaries, bonuses, transportation allowances, housing
benefits, feast day allowances, year-end benefits, and club membership. Based on the decision at the 2020 AGM,
detailed information for members of CIMB Niaga’s Board of Directors’ remuneration and other facilities is as follows:
Amount Received in 1 Year by the Board of Directors

natura facilities)
which:
Total 12 *)
77,211 11 91,185
*)
Including remuneration for the members of the Board of Directors that are no longer in position.
Total Members of
Remuneration per Person the Board of Directors
2020 2019
Above Rp5 billion 7 10
Above Rp2 billion up to Rp5 billion 4 1
Above Rp1 billion up to Rp2 billion 1 -
Above Rp500 million up to Rp1 billion - -
Below Rp500 million - -
2. Variable Remuneration for the Board of Directors
Amount Received in 1 Year by the Board of Directors

Variable Remuneration **
2020 2019
Total 12*) 50,678 11 72,969
*)
Including remuneration for the members of the Board of Directors that are no longer in position.
**)

SHARIA SUPERVISORY BOARD’S REMUNERATION
PROCEDURE FOR DETERMINING THE SHARIA SUPERVISORY BOARD’S REMUNERATION
GMS decided
Remuneration of the
Board of
GMS Sharia Supervisory
Commissioners
2 3 Board
Board of Commissioners Implemented by the

1 proposed to GMS Board of Directors
Nomination and
Remuneration
Committee
The Nomination and
submit recommendations
and proposals to the Board of
Commissioners
CIMB Niaga prepares the structure, policies, and amount of remuneration for each member of the Sharia Supervisory
Board after taking into account their duties, authorities, performance, and responsibilities. In addition, the Bank also
considers the remuneration applicable in the banking industry (peers group) and the Bank’s capabilities.
SHARIA SUPERVISORY BOARD’S REMUNERATION POLICY

CIMB Niaga implemented the following procedures to determine remuneration for the Sharia Supervisory Board:
1. The Nomination and Remuneration Committee conducts discussions regarding the Sharia Supervisory Board’s
remuneration after taking into account information on the range and remuneration standards with similar industries
(peers group) and the Bank’s capabilities;
2. The Nomination and Remuneration Committee provides recommendations for further discussion at the Board of
Commissioners’ meeting;
proposes to the GMS; and
4. The GMS determines the Sharia Supervisory Board’s remuneration, to be further implemented by the Board of Directors.
SHARIA SUPERVISORY BOARD’S REMUNERATION STRUCTURE

The Sharia Supervisory Board’s remuneration structure consists of honorarium, meeting allowances, holiday allowances,
and year-end benefits. Based on the decision at the 2020 AGM, detailed information regarding remuneration and other
facilities for members of the CIMB Niaga Sharia Supervisory Board are as follows:
Amount Received in 1 Year by the Sharia Supervisory Board

Remuneration (salary, routine allowance, tantiem, and other non- 3 1,698 3 1,643
natura facilities)
which:
Total 3 1,698 3 1,643

Total Members of the Sharia

Remuneration per Person Supervisory Board
2020 2019
Above Rp5 billion - -
Above Rp2 billion up to Rp5 billion - -
Above Rp1 billion up to Rp2 billion - -
Above Rp500 million up to Rp1 billion 1 1
Below Rp500 million 2 2
2. Variable Remuneration for the Sharia Supervisory Board
Amount Received in 1 Year by the Sharia Supervisory Board

Variable Remuneration *
2020 2019
Total Nil Nil Nil Nil
*)
All members of the Sharia Supervisory Board of CIMB Niaga did not receive any variable remuneration (shares or
bonuses both based of performance or non-performance as well as shares option).
EMPLOYEE/MANAGEMENT SHARE OWNERSHIP PROGRAM

In 2020, CIMB Niaga does not have a share ownership program for employees and management. However, information
regarding the share ownership program for employees and management conducted by the Bank in 2018 is as follows:
2020 2019 2018
Number Option Amount Option Number Option Amount Option Number Option Amount
Remarks Option Price
of Shares Price of Shares Price of Shares
Given Executed Given Executed Given Executed Rp (time
Owned Rp (time Owned Rp (time Owned
(shares) (shares) (shares) (shares) (shares) (shares) period)
(shares) period) (shares) period) (shares)
Board of - - - - - - - - - 77,000,000 - 1,391

Directors (3 years)
Board of - - - - - - - - - - -
Commissioners
Executive - - - - - - - - - 40,651,000 - 1,391

Officers (3 years)
Total - - - - - - - - - 117,651,000 - 1,391

(3 years)
HIGHEST AND LOWEST SALARY RATIO

Ratio 2020 2019 2018
The highest and lowest ratio of employees’ salary 121.82 : 1 116.80 : 1 121.15 : 1
The highest and lowest ratio of the Board of Directors’ salary 5.03 : 1 4.31 : 1 4.37 : 1
The highest and lowest ratio of the Board of Commissioners’ salary 1.52 : 1 1.37 : 1 1.50 : 1
The ratio of the highest Board of Directors’ salary and the highest employees’ salary 4.06 : 1 3.97 : 1 3.95 : 1

VARIABLE REMUNERATION FOR EMPLOYEES

Amount Received in 1 year by Employees
Variable Remuneration 2020 2019 2018
Person Rp (million) Person Rp (million) Person Rp (million)
Total 8,045 366,285 8,739 337,940 8,900 294,492
FIXED AND VARIABLE REMUNERATION FOR PARTIES CATEGORIZED MATERIAL RISK TAKERS (MRT)
A. Fixed Remuneration 2020 2019 2018
1. Cash (Rp million) 67,477.01 69,318.82 95,099.63
2. Shares/Instruments based on shares issued by the Bank (shares) - - -
2020 2019 2018

B. Variable Remuneration
Non-deferred Deferred Non-deferred Deferred Non-deferred Deferred
1. Cash (Rp million) 36,681 11,837 34,715 11,456 59,009 6,742
2. Shares/Instruments based - 24,095 - 26,731 - 28,931
on shares issued by the Bank
(shares)
QUANTITATIVE INFORMATION FOR PARTIES CATEGORIZED AS MATERIAL RISK TAKERS (MRT)

2020 2019 2018
Total Reduction during the Report Total Reduction during the Report Total Reduction during the Report
Period Period Period
Type of Variable
Remuneration Remaining Due to Due to Remaining Due to Due to Remaining Due to Due to
Deferred Explicit Implicit Total Deferred Explicit Implicit Total Deferred Explicit Implicit Total
Adjustment Adjustment (A+B) Adjustment Adjustment (A+B) Adjustment Adjustment (A+B)
(A) (B) (A) (B) (A) (B)
1. Cash (Rp million) 17,854 1,620 1,620 15,184 398 - 398 6,742 - - -
2. Shares/ 7,169,778 182,488 Rp5,546 Rp6,669 3,644,522 - - -

Stock-based shares shares shares
instruments (Rp44,901) (Rp1,123) (Rp8,931)
issued by the
10,316,586 691,968
Bank (in shares
shares shares Rp1,600 Rp5,381
and nominal
(Rp34,819) (Rp3,781)
million rupiah
which is a
conversion from
the shares)
Total (Rp million) 52,672 5,401 1,600 7,001 60,085 1,520 5,546 7,066 35,674 - - -
Note: Explicit adjustment was due to malus and cessation of employment (MRT) during the reporting period while the implicit adjustment was caused by decrease in the share price between the date of
grant and the end date of the report.
TOTAL SEVERANCE GRANTED TO EMPLOYEES AFFECTED BY TERMINATION AND TOTAL AMOUNT

PAID
Number of Employees
Severance pay amount paid per person in 1 (one) year
2020 2019 2018
Above Rp1 billion 13 27 6
Above Rp500 million up to Rp1 billion 42 65 10
Below Rp500 million 398 644 366

AND BOARD OF DIRECTORS MEETINGS
PROVISIONS FOR BOARD OF 9. Invitation and material for the Board of Commissioners
COMMISSIONERS’ MEETING AND JOINT meeting must be delivered to the participants of the
MEETING OF BOARD OF COMMISSIONERS Board of Commissioners meeting no later than 5
WITH THE BOARD OF DIRECTORS (five) working days before the meeting is held. In the
1. The Board of Commissioners must prepare a event of an ad-hoc Board of Commissioners meeting,
schedule for the Board of Commissioners meeting the meeting material is delivered to participants of
and the Board of Commissioners’ meeting by inviting the Board of Commissioners meeting at the latest
the Board of Directors (joint meeting of the Board before the meeting is held.
of Commissioners with the Board of Directors) for 10. Invitation to the meeting must be signed by the
the upcoming financial year before the end of the President Commissioner, other members of the
financial year and uploading it to the Bank’s website. Board of Commissioners, or the Corporate Secretary
2. The Board of Commissioners’ Meeting must be by stating the date, time, place, and agenda of the
held periodically at least 1 (once) in 2 (two) months meeting.
or at any time if deemed necessary. Whilst the 11. A member of the Board of Commissioners may only
Board of Commissioners meeting by inviting the be represented by other members of the Board
Board of Directors (joint meeting of the Board of of Commissioners in a meeting based on a special
Commissioners with the Board of Directors) must be Power of Attorney made for the meeting purpose,
held at least 1 (one) time in 4 (four) months. subject to:
3. Meetings may be conducted, among others, by face a. The physical absence can be calculated in the
to face or utilize teleconference technology meeting physical attendance frequency in the meeting;
(hearing and seeing each other between participants b. The physical absence of the person concerned
in the Meeting). does not nullify the right to vote in decision-
4. At least 2 (two) times a year, meeting of the Board making corresponding the granted power, so that
of Commissioners must be attended physically by all the voting rights are considered in the meeting
members of the Board of Commissioners. If a Non- quorum.
Independent Commissioner cannot physically attend 12. The Meeting must be held in the territory of Indonesia
the Meeting, therefore the Meeting may be attended but in case being held outside the territory of
through teleconference or telepresence technology. Indonesia, the decision of the meeting is considered
5. The proposal for holding a meeting may originated valid if attended by all members of the Board of
from the President Commissioner or more than Commissioners or representatives under the special
2 (two) members of the Board of Commissioners, power of attorney.
or a Board of Directors meeting, or on a written 13. The Meeting are valid and have the right to make
application from one shareholders or more who binding decisions if attended/represented by at least
(collectively) have at least 1/10 (one-tenth) part of 2/3 (two thirds) of the total number of the Board of
the total number of shares with valid voting rights Commissioners member.
issued by the Bank in accordance with the Articles of 14. The Meeting decisions are made based on
Association and applicable provisions. deliberation to reach consensus. If a decision based
6. Each member of the Board of Commissioners must on deliberation to reach consensus is not reached,
attend at least 75% (seventy five percent) meeting of then the decision is taken by voting based on than
the Board of Commissioners in a year. 2/3 (two thirds) agreed vote or more from the total
7. Minutes of meeting shall disclose the each member present members of the Board of Commissioners.
of the Board of Commissioners attendance, either 15. Voting is generally done verbally but under certain
physically or via teleconference/telepresence. condition and according to the collective agreement,
Attendance via teleconference/telepresence must voting can be done with a closed letter.
be accompanied by a recording (audio/visual) of the 16. Members of the Board of Commissioners who is
meeting. present at the meeting but not when the decision is
8. Meeting may be attended by the Corporate made for some reason, the voting rights concerned
Secretary or other parties appointed by the Board of are considered as blank.
Commissioners, and may also be attended by other 17. Each present member of the Board of Commissioners
invited parties, both by the Bank internal or external is entitled to cast 1 (one) vote and an additional 1
parties. (one) vote to represent other members of the Board
of Commissioners.

18. The Member of the Board of Commissioners who are 27. Minutes of meetings are valid evidence for members
unable to attend the meeting must inform the reason of the Board of Commissioners and third parties
for his/her absence to the President Commissioner. regarding the decisions resolved at the meeting.
19. The meeting shall be chaired by the President
Commissioner, if the President Commissioner is In 2020, due to the COVID-19 pandemic and the Work
unable to attend, which does not need to be proven to From Home (WFH) way of working, most of the meetings
a third party, then the meeting will be chaired by the of the Board of Commissioners and joint meetings
attending member of the Board of Commissioners between the Board of Commissioners and the Board of
and elected by the Meeting. Directors were held virtually.
20. Minutes of meetings are made by the Corporate
Secretary or other parties appointed by the Board of The schedule of meetings of the Board of Commissioners
Commissioners and documented properly. and the meetings between the Board of Commissioners
21. If a meeting is conducted through teleconference and the Board of Directors (joint meetings) for 2020
technology, must be followed up with the preparation were set at the end of 2019 and uploaded in the Bank’s
of meeting minutes signed by all attending members website.
of the Board of Commissioners.
22. Minutes of Board of Commissioners’ meeting must AGENDA OF THE MEETINGS OF THE BOARD OF
be signed by all attending members of the Board of COMMISSIONERS IN 2020
Commissioners and submitted to all members of the The regular agenda that have been discussed during the
Board of Commissioners. Board of Commissioners meetings each year were as
23. If there is such member of the Board of follows:
Commissioners who have not signed the minutes of 1. Confirmation to obtain approval of the previous
the meeting, the respective party must state a written Board of Commissioners’ Minutes of Meeting;
excuse in separate letter attached to the minutes of 2. Follow-up reports on the previous Board of
the meeting. Commissioners’ Minutes of Meeting and discussion
24. If there are dissenting opinions that occur in a on unresolved issues from the previous Board of
meeting, it must be clearly stated in the minutes of Commissioners’ Meeting;
the meeting along with the reasons for the dissenting 3. Summary of the previous month’s credit proposals;
opinion. 4. Financial Performance Report; and
25. The Board of Commissioners may also take legal and 5. Reports from the Committees under the Board of
binding decisions without holding a meeting of the Commissioners, namely the Audit Committee, Risk
Board of Commissioners, provided that all currently Oversight Committee, Nomination and Remuneration
serving members of the Board of Commissioners Committee, and Integrated Governance Committee.
give their approval by signing the proposed decision
(Circular Resolution). Circular Resolution shall have In addition to the fixed agenda as mentioned above,
the same power as decisions taken legally in a Board Meetings of Board of Commissioners also discussed
of Commissioners’ meeting. other agenda items including the following:
26. In case the minutes of the meeting are made
bilingual, then in the event that there are differences
in interpretation, the Indonesian version applies.
No Date Agenda Attendees

1 28 February 2020 1. Proposal on the Percentage of Net Profit for 2019 dividends 1. Tengku Dato’ Sri Zafrul Tengku Abdul
2. Orion Project 2020 Aziz*
3. Risk Appetite Statement as of January 2020 2. Zulkifli M. Ali**
3. Pri Notowidigdo**
4. Jeffrey Kairupan
5. Sri Widowati
6. David Richard Thomas
7. Didi Syafruddin Yahya***
2 24 April 2020 1. Report of Bank Risks as of March 2020 1. Didi Syafruddin Yahya***
2. Update on COVID-19 2. Glenn M. S. Yusuf****
3. Consolidated Financial Performance as of March 2020 3. Jeffrey Kairupan
4. Update on Quarter 1 Transformation Project Year 2020 4. Sri Widowati
5. Update on Quarter 1 Group Corporate Assurance Division 5. David Richard Thomas
(GCAD) Year 2020


3 28 August 2020 1. Revision of 2020 Bank Business Plan(initial discussion) 1. Didi Syafruddin Yahya***
2. Risk Appetite Statement as of April 2020 2. Glenn M. S. Yusuf****
3. Proposed 2020 Risk Appetite Statement 3. Jeffrey Kairupan
4. Update on COVID-19 4. Sri Widowati
4 26 June 2020 1. Approval of the Revision of 2020 Bank Business Plan 1. Didi Syafruddin Yahya***
2. Risk Appetite Statement as of May 2020 2. Glenn M. S. Yusuf****
3. Update on COVID-19 3. Jeffrey Kairupan
4. Update on Internet Service Disruptions 4. Sri Widowati
5 28 August 2020 1. Update on Transformation Project 1. Didi Syafruddin Yahya***
2. Update on Orion Project 2. Glenn M. S. Yusuf****
3. Update on Treasury & Capital Market 3. Jeffrey Kairupan
4. Risk Appetite Statement as of July 2020 4. Sri Widowati
5. Update on COVID-19 5. David Richard Thomas
6 25 September 2020 1. Risk Appetite Statement as of August 2020 1. Didi Syafruddin Yahya***
2. Update on the Bank Operational Risk Incident 2. Glenn M. S. Yusuf****
3. Update on COVID-19 3. Jeffrey Kairupan
4. Sri Widowati
7 26 November 2020 1. Approval of 2021 Bank Business Plan 1. Didi Syafruddin Yahya***
2. Realization of the 2020 Action Plan on Sustainability Finance 2. Glenn M. S. Yusuf****
(RAKB) and 2021 RAKB 3. Jeffrey Kairupan
3. Update on COVID-19 4. Sri Widowati
4. Risk Appetite Statement as of October 2020 5. David Richard Thomas
5. Summary of Internal Audit as of October 2020
8 17 December 2020 CIMB Niaga’s Forward Strategy 23+ and 2021 Budget. 1. Didi Syafruddin Yahya***
2. Glenn M. S. Yusuf****
3. Jeffrey Kairupan
4. Sri Widowati
*)
Resigned as the President Commissioner effective 9 March 2020
**)
Term of office as Independent Commissioner ended on the closing of AGM on 9 April 2020
***)
Appointed as the President Commissioner in the AGM on 9 April 2020 and effective on 7 July 2020
****)
Appointed as Vice President Commissioner (Independent) in the AGM on 9 April 2020 and effective on 16 September 2020
AGENDA OF JOINT MEETINGS OF THE BOARD OF COMMISSIONERS WITH THE BOARD OF

DIRECTORS IN 2020
No Date Board of Commissioners Board of Directors Agenda
Attendance Attendance
1 28 January 2020 1. Tengku Dato’ Sri Zafrul 1. Tigor M. Siahaan 1. Update on subsidiary (CNAF)
Tengku Abdul Aziz* 2. Rita Mas’Oen** 2. Report on the Realization and Supervision of
2. Zulkifli M. Ali** 3. Megawati Sutanto** the Bank Business Plan for Second Semester
3. Pri Notowidigdo** 4. Vera Handajani of 2019
4. Jeffrey Kairupan 5. John Simon 3. Update on Forward-23 Transformation
5. Sri Widowati 6. Lani Darmawan Project
6. David Richard Thomas 7. Fransiska Oei 4. Results of 2019 Group Corporate Assurance
7. Didi Syafruddin Yahya*** 8. Hedy Lapian** Division (GCAD)
9. Pandji P. Djajanegara 5. Risk Appetite Statement as of December
10. Rahardja Alimhamzah**** 2019 and the Recovery Plan
6. Approval on the Plan for the 2020 Annual
General Meeting of Shareholders (AGM)
2 9 April 2020 1. Zulkifli M. Ali** 1. Tigor M. Siahaan Risk Appetite Statement as of February 2020
2. Pri Notowidigdo** 2. Rita Mas’Oen**
3. Jeffrey Kairupan 3. Megawati Sutanto**
4. Sri Widowati 4. Vera Handajani
5. David Richard Thomas 5. John Simon
6. Didi Syafruddin Yahya*** 6. Lani Darmawan
7. Fransiska Oei
8. Hedy Lapian**
9. Pandji P. Djajanegara
10. Lee Kai Kwong

No Date Board of Commissioners Board of Directors Agenda

Attendance Attendance
3 24 July 2020 1. Didi Syafruddin Yahya*** 1. Tigor M. Siahaan 1. Report on the RBB realization in First
2. Glenn M. S. Yusuf***** 2. Lee Kai Kwong Semester of 2020
3. Jeffrey Kairupan 3. Vera Handajani 2. Approval on the Plan for the 2020
4. Sri Widowati 4. John Simon Extraordinary General Meeting of
5. David Richard Thomas 5. Lani Darmawan Shareholders (EGMS)
6. Fransiska Oei 3. Report on Group Corporate Assurance
7. Pandji P. Djajanegara Division Q2 2020
4. Risk Appetite Statement as of June 2020
5. Risk Escalation Event
6. Update on COVID-19
4 27 October 2020 1. Didi Syafruddin Yahya*** 1. Tigor M. Siahaan 1. 2021 RBB (1st Draft for Discussion)
2. Glenn M. S. Yusuf***** 2. Vera Handajani 2. Update on Bank Recovery Plan
3. Jeffrey Kairupan 3. John Simon 3. Update on Taxation
4. Sri Widowati 4. Lani Darmawan 4. Risk Appetite Statement as of October 2020
5. David Richard Thomas 5. Fransiska Oei 5. Update on COVID-19
6. Pandji P. Djajanegara 6. Progress of Digital Transformation
7. Lee Kai Kwong
*)
Resigned as President Commissioner effective as of 9 March 2020
**)
Term of office ended on the closing of AGM on 9 April 2020
***)
Appointed as the President Commissioner in the AGM on 9 April 2020 and effective as of 7 July 2020
****)
Resigned as Director on 21 February 2020 and effective on the closing of the AGM on 9 April 2020
*****)
FREQUENCY AND ATTENDANCE AT THE BOARD OF COMMISSIONERS’ MEETING IN 2020

Joint Meetings of Board of Commissioners with
Meetings of Board of Commissioners
the Board of Directors
No Name
Attendance Rate of Average Rate Attendance Rate of Average Rate
Frequency Attendance of Attendance Frequency Attendance of Attendance
1 Didi Syafruddin Yahya* 8/8 100% 4/4 100%
2 Glenn M. S. Yusuf** 3/3 100% 1/1 100%
3 Jeffrey Kairupan 8/8 100% 100% 4/4 100% 100%
4 Sri Widowati 8/8 100% 4/4 100%
5 David Richard Thomas 8/8 100% 4/4 100%
*)
Appointed as the President Commissioner in the AGM on 9 April 2020 and effective as of 7 July 2020
**)
PROVISIONS FOR BOARD OF DIRECTORS’ or based on written request from 1 (one) or more
MEETING AND JOINT MEETING OF shareholders who collectively representing 1/10 (one-
BOARD OF DIRECTORS WITH BOARD OF tenth) or more of the total number of shares with valid
COMMISSIONERS voting rights issued by the Bank.
1. The Board of Directors must prepare a schedule for 3. The Board of Directors must hold a Board of Directors
the Board of Directors and the Board of Directors meeting by inviting the Board of Commissioners (Joint
meetings by inviting the Board of Commissioners (Joint meeting of the Board of Directors with the Board of
meeting of the Board of Directors with the Board of Commissioners) periodically at least 1 (one) time in 4
Commissioners) for the following year before the end (four) months or 3 (three) times a year.
of the fiscal year, and uploaded in the Bank’s website. 4. Meetings of the Board of Directors can be held by
2. Meetings of the Board of Directors are held periodically physical presence or by the use of teleconference,
at least 1 (one) time a month or at any time if deemed telepresence or through other electronic media.
necessary, or as a whole at least 12 (twelve) times a year. 5. The minimum annual attendance of the meeting is at
The Board of Directors meeting may be proposed by 1 least 75% (seventy-five percent) which among others
(one) or more members of the Board of Directors or must be attended by all members of the Board of
based on written request of the Board of Commissioners, Directors.

6. Every policy and strategic decision must be decided 16. The Board of Directors meeting is attended by the
through a Board of Directors meeting by taking into Corporate Secretary, and by other parties either internal
account the provisions of the AD and the applicable or external parties of the Bank, if deemed necessary by
laws and regulations. the Board of Directors and is related to the agenda of
7. Invitations and meeting materials must be submitted the meeting.
to meeting participants in accordance with applicable 17. Minutes of meetings are prepared and administered by
regulations. the Corporate Secretary and if the Corporate Secretary is
8. In the event that a meeting is held outside the schedule concurrently held by one of the Directors, then minutes
that has been prepared as referred to above, the of the meeting can be made by Corporate Affairs.
meeting material is delivered to the meeting participants 18. Minutes of Board of Directors’ meetings must be signed
at least before the meeting is held. by all members of the Board of Directors present at the
9. The Board of Directors Meeting is led by the President meeting and distributed to all members of the Board of
Director, in the event the President Director is vacant Directors.
or absent or unable to attend, where it is not necessary 19. Minutes of the Board of Directors’ meeting disclose the
to be proven to the third party, the Board of Directors attendance of each member of the Board of Directors
meeting will be led by the Vice President Director or a whether physically, teleconference or telepresence.
member of the Board of Directors present and elected 20. In the event that a Board of Directors meeting is
by the Directors present in a meeting. conducted through teleconference, telepresence, or
10. The Board of Directors Meeting is lawful and entitled to through other electronic media, then it must be followed
take legal and binding decisions if attended/represented up with the making of minutes of meetings signed by all
by more than 2/3 (two thirds) of the total members of members of the Board of Directors present.
the Board of Directors. 21. Minutes of Board of Directors ‘meeting is the valid
11. Decisions making in the Board of Directors’ Meeting is evidence for members of the Board of Directors and third
conducted based on deliberation to reach consensus. parties regarding decisions taken at Directors’ meetings.
In the event that consensus is not reached, then the 22. If there are dissenting opinions that occur in a Board
decision is taken by voting based on a vote of “agree” at of Directors meeting, it must be clearly stated in the
least 2/3 (two-thirds) of the total members of the Board minutes of the meeting along with the reasons for the
of Directors present at the meeting. dissenting opinion.
12. Each member of the Board of Directors present shall 23. The decision of the Board of Directors meeting by inviting
be entitled to cast 1 (one) vote and an additional 1 (one) the Board of Commissioners must be stated in the minutes
vote for each other member of the Board of Directors of the meeting, signed by all members of the Board of
he she represents. Directors and the Board of Commissioners present, and
13. A member of the Board of Directors may only be submitted to all members of the Board of Directors and
represented by another member of the Board of the Board of Commissioners and the Corporate Secretary.
Directors based on a special Power of Attorney made 24. In the event that there are members of the Board
for the purpose of the meeting, provided that the of Directors and/or members of the Board of
physical absence: Commissioners who have not signed the minutes of
a. Can be calculated in the frequency of physical the meeting above, the relevant party must state the
attendance at meetings of the Board of Directors of reasons in writing in a separate letter attached to the
the Bank; minutes of the meeting.
b. Invalidate the right to vote in decision-making 25. Directors may also adopt valid and binding decisions
according to the power granted so that the voting without holding a Board of Directors meeting, provided
rights are taken into account in the meeting minutes. that all members of the Board of Directors incumbent
14. Members of the Board of Directors who are unable to give their approval by signing the decision letter
attend the Board of Directors’ meeting must submit containing the relevant proposal (Circular Decision).
the reasons for their absence to the President Director 26. Circular Decisions have the same power as decisions
through the Corporate Secretary. taken legally at a Board of Directors meeting.
15. Decisions can be taken through meetings or outside
meetings, which is through the circular of the Board of During 2020, due to COVID-19 and the implementation of
Directors or other acknowledged media, provided that Work From Home (WFH), most of the Board of Directors’
all members of the Board of Directors are required to meetings and joint meetings of the Board of Directors with
sign the circular or media concerned. the Board of Commissioners were held virtually.

The schedule of the Board of Directors’ meeting and the Board of Directors meeting by inviting the Board of Commissioners
(joint meeting of the Board of Directors with the Board of Commissioners) for 2020 was scheduled at the end of 2019 and
uploaded to the Bank’s website.
AGENDA OF THE MEETINGS OF THE BOARD OF DIRECTORS IN 2020

The meetings of the Board of Directors were originally scheduled to be held at the Kalimantan Meeting Room on the
14th Floor of Graha CIMB Niaga, Jl. Jend. Sudirman Kav 58, Jakarta. However, since the implementation of the Work From
Home (WFH) policy due to the COVID-19, the Meetings of the Board of Directors throughout the period 17 March – 31
December 2020 were held through telepresence (video conference). The agendas discussed in the meetings throughout
2020 were as follows:

1 7 January 2020 1. Confirmation on the Minutes of Board of Directors Meetings on 10 December 1. Tigor M. Siahaan
2019, 13 December 2019 and 17 December 2019 2. Megawati Sutanto*
2. Plan for the 2021 Annual General Meeting of Shareholders (AGM) of CIMB 3. Vera Handajani
Niaga 4. John Simon
3. Consolidated Financial Performance as of December 2019 5. Lani Darmawan
6. Fransiska Oei
8. Rahardja Alimhamzah**
9. Lee Kai Kwong
2 22 January 2020 1. Confirmation on the Minutes of Board of Directors Meeting on 7 January 1. Tigor M. Siahaan
2020 2. Rita Mas’Oen*
2. CIMB Niaga Year-end Audit Results as of 31 December 2019 3. Megawati Sutanto*
3. Risk Profile Q4/2019, Risk-Based Bank Rating (RBBR) H2/2019, and Integrated 4. Vera Handajani
Risk Profile H2/2019 5. John Simon
4. Realization and Supervisory Report of the 2019 Bank Business Plan (RBB) 6. Lani Darmawan
Revision and the 2020 RBB Presentation 7. Fransiska Oei
5. Subsidiary Corporate Action 8. Hedy Lapian*
6. HR Update on LoG Mobile and MPP 9. Pandji P. Djajanegara
7. Data Governance Monthly Report 10. Rahardja Alimhamzah**
8. Other 11. Lee Kai Kwong
3 4 February 2020 1. Confirmation on the Minutes of Board of Directors Meeting on 22 January 1. Tigor M. Siahaan
2020 and the Minutes of Joint Meeting of the Board of Directors with the 2. Rita Mas’Oen*
Board of Commissioners on 28 January 2020 3. Megawati Sutanto*
2. Recovery Plan Updates 4. Vera Handajani
3. Cybersecurity Threat & Capability Review 5. John Simon
4. Issuance Proposal of the Shelf Registration Sukuk Mudharabah & the 6. Lani Darmawan
Sustainability/Green Sukuk 7. Fransiska Oei
5. 2019 Learning Budget Realization 8. Hedy Lapian*
6. The Indonesian National Work Competency System (SKKNI) and the Payment 9. Pandji P. Djajanegara
and Management System of Rupiah Currency (SPPUR) 10. Rahardja Alimhamzah**
7. Update on the Impact of Flood, Evacuation and Insurance 11. Lee Kai Kwong
8. Transformation Updates
9. Other
4 18 February 2020 1. Confirmation on the Minutes of Board of Directors Meeting on 4 February 1. Tigor M. Siahaan
2. Executive Committee (EXCO) Performance and Strategy 3. Megawati Sutanto*
3. Approval on External Auditor for the 2020 Financial Year 4. Vera Handajani
4. Corporate PD Model PSAK 71 5. John Simon
5. Subsidiary Corporate Action Updates 6. Lani Darmawan
6. TSO Organisation Structure 7. Fransiska Oei
7. Data Management Monthly Update 8. Hedy Lapian*
8. Corona Virus (COVID-19) Alert Level & Responses 9. Pandji Djajanegara
9. Other 10. Rahardja Alimhamzah**
11. Lee Kai Kwong


5 25 February 2020 1. 2020 Orion Project 1. Tigor M. Siahaan
2. Plan for Dividend Payment FY 2019 2. Rita Mas’Oen*
3. Other 3. Megawati Sutanto*
4. Vera Handajani
5. John Simon
6. Lani Darmawan
7. Fransiska Oei
8. Hedy Lapian*
11. Lee Kai Kwong
6 3 March 2020 1. Confirmation on the Minutes of Board of Directors Meeting on 18 February 1. Tigor M. Siahaan
2. HR Matrix Showcase using Tableau 3. Megawati Sutanto*
3. COC + Callback Centralizations & COE RPA 4. Vera Handajani
4. Business Continuity Management Update 5. Lani Darmawan
5. Family Day at Makassar on 7 March 2020 6. Fransiska Oei
6. SPAPM Sub-Directorate Project Updates 7. Hedy Lapian*
7. BCG Transformation Updates 8. Pandji P. Djajanegara
9. Lee Kai Kwong
7 10 March 2020 1. AML & Compliance Updates 1. Tigor M. Siahaan
2. Consolidated Financial Performance as of February 2020 2. Rita Mas’Oen*
3. 1 Platform Updates – Tax Management 3. Megawati Sutanto*
4. SPAPM Sub-Directorate Updates – Readiness of Thermal Scanner and Space 4. Vera Handajani
for Split Office 5. John Simon
5. Other 6. Lani Darmawan
7. Fransiska Oei
9. Lee Kai Kwong
8 17 March 2020 1. Confirmation on the Minutes of Board of Directors Meeting on 3 March 2020 1. Tigor M. Siahaan
2. 2020 Performance Framework & Work From Home 2. Rita Mas’Oen*
3. Summary of Internal Audit Findings as of February 2020 3. Megawati Sutanto*
4. Data Management Montly Update 4. Vera Handajani
5. Transformation Project Updates 5. John Simon
7. Fransiska Oei
8. Hedy Lapian*
10. Lee Kai Kwong
9 31 March 2020 1. Update on CCAL Directorate – Anti-Corruption Policy & Integrity Pact 1. Tigor M. Siahaan
2. 2020 Additional Capital for Sharia Business Unit 2. Rita Mas’Oen*
3. Credit Restructuring Program (COVID-19 Impacts) 3. Megawati Sutanto*
4. COVID-19 Handling Updates (Business Continuity Management) 4. Vera Handajani
5. Other 5. John Simon
6. Lani Darmawan
7. Fransiska Oei
8. Hedy Lapian*
10. Lee Kai Kwong
10 7 April 2020 1. Confirmation on the Minutes of Board of Directors Meeting on 17 March 1. Tigor M. Siahaan
2. Consolidated Financial Performance as of March 2020 3. Megawati Sutanto*
3. Other 4. Vera Handajani
5. John Simon
6. Lani Darmawan
7. Fransiska Oei
8. Hedy Lapian*
10. Lee Kai Kwong
11 21 April 2020 1. Confirmation on the Minutes of the Board of Directors Meetings on 31 1. Tigor M. Siahaan
March 2020 & 7 April 2020 and the Minutes of Joint Meeting of the Board of 2. Vera Handajani
Directors with the Board of Commissioners on 9 April 2020 3. John Simon
2. 1Q 2020 Internal Audit Results 4. Lani Darmawan
3. RBB Realization Reports - 1st Quarter 2020 5. Fransiska Oei
4. 2020 Performance Framework 6. Pandji P. Djajanegara
5. Data Management Monthly Updates 7. Lee Kai Kwong


12 5 May 2020 1. Confirmation on the Minutes of Board of Directors Meeting on 21 April 2020 1. Tigor M. Siahaan
2. Internal Audit Results as of April 2020 2. Vera Handajani
3. 2020 Risk Appetite Statements 3. John Simon
4. 3D Training Program (Digital, Data, Design) 4. Lani Darmawan
5. R&R COVID-19: Legal Documentation Review 5. Fransiska Oei
6. F23 Transformation: Identifying future opportunities in the new normal era 6. Pandji P. Djajanegara
13 13 May 2020 1. Consolidated Financial Performance as of April 2020 1. Tigor M. Siahaan
2. 2020 RBB Revision 2. Vera Handajani
3. Shelf Registration Sukuk Issuance (Green Sukuk) 3. John Simon
4. Proposed Activities during Idul Fitri Holidays 2020 4. Lani Darmawan
5. Comparison between PC Desktops & Notebook 5. Fransiska Oei
6. Update on the Impact of COVID-19 on All Credit Lines 6. Pandji P. Djajanegara
14 19 Mai 2020 1. Confirmation on the Minutes of Board of Directors Meeting on 5 May 2020 1. Tigor M. Siahaan
2. Activities in Branch Network during Idul Fitri Holiday 2020 2. Vera Handajani
3. Budget for Staff Disaster Relief Due to COVID-19 3. John Simon
4. Data Management Monthly Updates 4. Lani Darmawan
5. Transformation Update – Sales Force Tools (SFT) Demo 5. Fransiska Oei
6. Other 6. Pandji P. Djajanegara
7. Lee Kai Kwong
15 2 June 2020 1. Confirmation on the Minutes of Board of Directors Meetings on 12 May 2020 1. Tigor M. Siahaan
& 19 May 2020 2. Vera Handajani
2. 2020 Mid-Year Senior Leaders Meeting (SLM) 3. John Simon
3. Transformation Project Updates: SME Credit 4. Lani Darmawan
4. Other 5. Fransiska Oei
7. Lee Kai Kwong
16 9 June 2020 1. Consolidated Financial Performance as of May 2020 1. Tigor M. Siahaan
2. Business Continuity Management: COVID-19 Updates 2. Vera Handajani
3. Management Stress Test 3. John Simon
4. Lani Darmawan
5. Fransiska Oei
7. Lee Kai Kwong
17 16 June 2020 1. Confirmation on the Minutes of Board of Directors Meeting on 2 June 2020 1. Tigor M. Siahaan
2. Internal Audit Results as of May 2020 2. Vera Handajani
3. 2020 RBB Revision (Final) 3. John Simon
7. Lee Kai Kwong
18 30 June 2020 1. Follow-up of Senior Leader Meeting (SLM) 1. Tigor M. Siahaan
3. John Simon
4. Lani Darmawan
5. Fransiska Oei
7. Lee Kai Kwong
19 2 July 2020 1. Confirmation on the Minutes of Board of Directors Meetings on 9 June 2020 1. Tigor M. Siahaan
& 16 June 2020 2. Vera Handajani
2. Consolidated Financial Performance as of May 2020 (1st Cut) 3. John Simon
3. Value Driver 4. Lani Darmawan
4. Sharia Non Compliance Risk 5. Fransiska Oei
5. Transformation Project Updates 6. Pandji P. Djajanegara
20 21 July 2020 1. Confirmation on the Minutes of Board of Directors Meetings on 30 June 2020 1. Tigor M. Siahaan
& 7 July 2020 2. Vera Handajani
2. Q2 2020 Internal Audit Summary Update & 3Q 2020 Audit Plan 3. John Simon
3. Report of Realization and Oversight of RBB Amendment 2nd Quarter 2020 4. Lani Darmawan
4. Data Management Monthly Updates 5. Fransiska Oei
5. Proposal on Additional Budget of Disaster Relief for Affected Staffs & Other 6. Pandji P. Djajanegara
Updates from SPAPM Sub-Directorate 7. Lee Kai Kwong
6. Update on TSO & Transformation Project
7. Other (Plan for EGM & Procedures for Providing Interest Subsidies for SME
loans in order to the Implementation of National Economic Recovery Program)


21 4 August 2020 1. Confirmation on the Minutes of Board of Directors Meeting on 21 July 2020 1. Tigor M. Siahaan
2. SME Business Strategy 2. Vera Handajani
3. HR Updates (COVID-19, 2020 Collective Leave & Nomenclature) 3. John Simon
4. 2020 Sharia Survey 4. Lani Darmawan
5. Transformation Project Updates (Consumer & SME Banking) 5. Fransiska Oei
7. Lee Kai Kwong
22 11 August 2020 1. Application to Convert a Giro Account to a Sharia Account without Changing 1. Tigor M. Siahaan
the Account Number 2. Vera Handajani
2. Data Management Monthly Updates 3. John Simon
3. Consolidated Financial Performance as of July 2020 4. Lani Darmawan
4. Proposed Forward-24 (F24) 5. Fransiska Oei
7. Lee Kai Kwong
23 18 August 2020 1. Confirmation on the Minutes of Board of Directors Meeting on 4 August 2020 1. Tigor M. Siahaan
and the Minutes of Joint Meeting of the Board of Directors with the Board of 2. Vera Handajani
Commissioners on 24 July 2020. 3. John Simon
2. Internal Audit Results Updates as of July 2020 & 2020 Mid-year Audit Plan 4. Lani Darmawan
3. External Quality Assurance Review Services for Internal Audit Function 5. Fransiska Oei
4. Audit Plan by PWC for the Financial Year Ending on 31 December 2020 6. Pandji P. Djajanegara
5. Orion Project Updates 7. Lee Kai Kwong
6. New Performance Management Framework
7. Other
24 25 August 2020 1. 1H 2020 Compliance Director Updates 1. Tigor M. Siahaan
2. Q2 2020 Banks Benchmarking 2. Vera Handajani
4. Lani Darmawan
5. Fransiska Oei
7. Lee Kai Kwong
25 1 September 2020 1. Confirmation on the Minutes of Board of Directors Meetings on 11 August 1. Tigor M. Siahaan
2020 & 18 August 2020 2. Vera Handajani
2. 1 Platform (1P) Settlement– Tax Management 3. John Simon
3. Callback Process Improvement 4. Lani Darmawan
4. SPAPM Sub-Directorate Initiatives 5. Fransiska Oei
5. HR Application - Your Own Digital Assistant (Y.O.D.A) 6. Pandji P. Djajanegara
6. Plan for 65 Year Celebration of CIMB Niaga 7. Lee Kai Kwong
7. Other
26 8 September 2020 1. Consolidated Financial Performance as of August 2020 1. Tigor M. Siahaan
2. BMC Competency Survey Results & Talent Management Updates 2. Vera Handajani
3. UUS Spin-off Plan Update 3. John Simon
4. Subsidiary Updates - CIMB Niaga Sekuritas (CNS) 4. Lani Darmawan
7. Lee Kai Kwong
27 15 September 2020 1. Confirmation on the Minutes of Board of Directors Meetings on 25 August 1. Tigor M. Siahaan
2020 and 1 September 2020 2. Vera Handajani
2. Internal Audit Summary as of August 2020 and 2Q 2020 Data Analysis Results 3. John Simon
3. Flexible Working Arrangement 4. Lani Darmawan
4. Sustainability Updates to BMC 5. Fransiska Oei
5. Data Management Monthly Updates 6. Pandji P. Djajanegara
6. Special Asset Management Updates 7. Lee Kai Kwong
7. Other
28 22 September 2020 1. CNAF 2024 Strategic Plan 1. Tigor M.Siahaan
2. Transformation Project Updates 2. Vera Handajani
3. Lani Darmawan
4. Fransiska Oei
6. Lee Kai Kwong
29 29 September 2020 1. Regulatory Compliance Management System (RECOM) 1. Tigor M. Siahaan
3. John Simon
4. Lani Darmawan
5. Fransiska Oei
7. Lee Kai Kwong


30 6 October 2020 1. Confirmation on the Minutes of Board of Directors Meetings on 8 September 1. Tigor M. Siahaan
2020 and 15 September 2020 2. Vera Handajani
2. Consolidated Financial Performance (1st Cut) as of September 2020 3. John Simon
3. Transformation Project Updates 4. Lani Darmawan
7. Lee Kai Kwong
31 13 October 2020 1. Risk Management Updates (2021 Risk Posture & 2021 Management Stress 1. Tigor M. Siahaan
Test) 2. Vera Handajani
2. Tax Management Updates 3. John Simon
4. OJK Exit Meeting Preparation 5. Fransiska Oei
7. Lee Kai Kwong
32 20 Oktober 2020 1. Confirmation on the Minutes of Board of Directors Meetings on 22 1. Tigor M. Siahaan
September 2020, 29 September 2020 and 6 October 2020 2. Vera Handajani
2. Internal Audit Results Summary as of September 2020 3. John Simon
3. Recovery Plan Updates 4. Lani Darmawan
4. Q3 2020 RBB Realization and 2021 RBB 5. Fransiska Oei
7. Lee Kai Kwong
33 3 November 2020 1. Confirmation on the Minutes of Board of Directors Meetings on 13 October 1. Tigor M. Siahaan
2020 and 20 October 2020 2. Lee Kai Kwong
2. Update on Loan Workout, Legal Risk & Business Law 3. John Simon
3. Future Proof Organization 4. Vera Handajani
4. Forward Ways of Working 5. Lani Darmawan
5. 2020 IT Capex & Forecast Updates 6. Pandji P. Djajanegara
8. Tjioe Mei Tjuen***
34 10 November 2020 1. Consolidated Financial Performance as of October 2020 1. Tigor M. Siahaan
2. Tax Management Updates 2. Lee Kai Kwong
4. Vera Handajani
5. Lani Darmawan
7. Fransiska Oei
35 17 November 2020 1. Internal Audit Results Summary as of October 2020 and 2021 Audit Plan 1. Tigor M. Siahaan
2. Realization of the 2020 Sustainable Finance (SF) Action Plan (RAKB) and 2021 2. Lee Kai Kwong
SF Action Plan 3. John Simon
3. Blanket Approval on Physical Records 4. Vera Handajani
4. 2020 Sharia Sustainability Development Goals (SDGs) Initiatives 5. Lani Darmawan
5. 2021 RBB, Business Plan F23+ & 2020 IT Capex 6. Pandji P. Djajanegara
7. Fransiska Oei
36 1 December 2020 1. Confirmation on the Minutes of Board of Directors Meetings on 10 November 1. Tigor M. Siahaan
2020 and 17 November 2020 2. Lee Kai Kwong
2. Subsidiary Updates (CNS) 3. John Simon
3. Forward Ways of Working Strategy Implementation 4. Vera Handajani
4. HR Updates – Impact of the 2020 Omnibus Law 5. Lani Darmawan
5. New way of Learning: Virtual Reality (VR) Program 6. Pandji P. Djajanegara
6. 2021 CAR Target & Capital Triggers 7. Fransiska Oei
7. Transformation Year-end Review 8. Tjioe Mei Tjuen***
8. Others
37 8 December 2020 1. Internal Audit Results Summary as of November 2020 1. Tigor M. Siahaan
2. Consolidated Financial Performance as of November 2020 2. Lee Kai Kwong
3. External Audit Updates for Financial Year Ending on 31 December 2020 3. John Simon
4. Discussion of Plan for Year-end 2020 Thanksgiving 4. Vera Handajani
7. Fransiska Oei


38 15 December 2020 1. Confirmation on the Minutes of Board of Directors Meeting on 1 December 1. Tigor M. Siahaan
2020 2. Lee Kai Kwong
2. Updates on Sub Directorate Operational Accounting Financial System & 3. John Simon
Accounting Control Group 4. Vera Handajani
3. 2021 CIMB Niaga & Directorate Scorecards 5. Lani Darmawan
4. Fitch Rating 2021 Outlook 6. Pandji P. Djajanegara
5. 2021 Risk Posture: Budget Validation (Non Retail) 7. Fransiska Oei
6. e-PRIME Update: Switching Process from Manual to Digital 8. Tjioe Mei Tjuen***
39 22 December 2020 1. 2021 AGM Plan 1. Tigor M. Siahaan
2. 2021 CIMB Niaga & Directorate Scorecards 2. Lee Kai Kwong
3. John Simon
4. Vera Handajani
5. Lani Darmawan
7. Fransiska Oei
*)
Term of office as Director ended as of the closing of AGM on 9 April 2020
**)
Resigned as Director on 21 February 2020 and effective on the closing of AGM on 9 April 2020
***)
AGENDA OF JOINT MEETINGS OF THE BOARD OF DIRECTORS WITH THE BOARD OF COMMISSIONERS IN 2020
No Date Board of Directors Board of Commissioners Attendance Agenda

Attendance
1 28 January 2020 1. Tigor M. Siahaan 1. Tengku Dato’ Sri Zafrul Tengku Abdul Aziz*** 1. Message from the President
2. Rita Mas’Oen* 2. Zulkifli M. Ali* Director
3. Megawati Sutanto* 3. Pri Notowidigdo* 2. Consolidated Financial
4. Vera Handajani 4. Jeffrey Kairupan Performance as of
5. John Simon 5. David Richard Thomas December 2019
6. Lani Darmawan 6. Didi Syafruddin Yahya****
7. Fransiska Oei 7. Sri Widowati
8. Hedy Lapian*
2 9 April 2020 1. Tigor M. Siahaan 1. Zulkifli M. Ali* 1. Message from the President
2. Rita Mas’Oen* 2. Pri Notowidigdo* Director
3. Megawati Sutanto* 3. Jeffrey Kairupan 2. Consolidated Financial
4. Vera Handajani 4. David Richard Thomas Performance as of March
5. John Simon 5. Didi Syafruddin Yahya**** 2020 (1st Cut)
6. Lani Darmawan 6. Sri Widowati
7. Fransiska Oei
8. Hedy Lapian*
9. Pandji Djajanegara
10. Lee Kai Kwong
3 24 July 2020 1. Tigor M. Siahaan 1. Didi Syafruddin Yahya**** 1. Message from the President
2. Lee Kai Kwong 2. Glenn M. S. Yusuf***** Director
3. John Simon 3. Jeffrey Kairupan 2. Consolidated Financial
4. Vera Handajani 4. David Richard Thomas Performance as of June 2020
5. Lani Darmawan 5. Sri Widowati
7. Fransiska Oei
4 27 October 2020 1. Tigor M. Siahaan 1. Didi Syafruddin Yahya**** 1. Message from the President
2. Lee Kai Kwong 2. Glenn M. S. Yusuf***** Director
3. John Simon 3. Jeffrey Kairupan 2. Consolidated Financial
4. Vera Handajani 4. David Richard Thomas Performance as of
5. Lani Darmawan 5. Sri Widowati September 2020
7. Fransiska Oei
*) Term of office ended as of the closing of AGM on 9 April 2020

**) Resigned as Director on 21 February 2020 and effective as of the closing of AGM on 9 April 2020
***) Resigned as President Commissioner effective as of 9 March 2020
****) Appointed as President Commissioner in the AGM on 9 April 2020 and effective as of 7 July 2020
*****) Appointed as Vice President Commissioner (Independent) in the AGM on 9 April 2020 and effective as of 16 September 2020

FREQUENCY AND ATTENDANCES AT THE BOARD OF DIRECTORS’ MEETINGS IN 2020
Joint Meetings of the Board of Directors with the

Meetings of Board of Directors
No Name
Attendance Rate of Average Rate of Attendance Rate of Average Rate of
Frequency Attendance Attendance Frequency Attendance Attendance
1 Tigor M. Siahaan 39/39 100% 4/4 100%
2 Lee Kai Kwong 39/39 100% 3/4 75%
3 John Simon 37/39 95% 4/4 100%
4 Vera Handajani 39/39 100% 4/4 100%
99% 96%
5 Lani Darmawan 39/39 100% 4/4 100%
6 Pandji P. Djajanegara 39/39 100% 4/4 100%
7 Fransiska Oei 39/39 100% 4/4 100%
8 Tjioe Mei Tjuen* 7/7 100% - -
*)
ULTIMATE AND CONTROLLING SHAREHOLDER

Disclosure of information on the Ultimate and Controlling Shareholder is presented in the Company Profile section of
this Annual Report.
AFFILIATION AMONG MEMBERS OF THE BOARD OF

COMMISSIONERS, BOARD OF DIRECTORS AND THE
CONTROLLING SHAREHOLDER
The majority members of the Bank’s Board of Commissioners and Board of Directors have no affiliation, either
familial or financial relationship, with fellow members of the Board of Commissioners, the Board of Directors and the
Controlling Shareholder. However, 50% (fifty percent) of the Non-Independent Commissioners on the Bank’s Board
of Commissioners have financial relationships with the Bank’s Controlling Shareholder. The entire affiliations remain
comply with the applicable regulations. Members of the Board of Commissioners and the Board of Directors of CIMB
Niaga have the integrity and independence, and are free of any conflict of interest that may impair their ability to carry
out their duties in a professional and objective manner.
The affiliation criteria among members of the Board of Commissioners, Board of Directors and the Controlling
Shareholder include:
1. Affiliated relationships between a member of the Board of Directors with other members of the Board of Directors;
2. Affiliated relationships between a member of the Board of Directors with members of the Board of Commissioners;
3. Affiliated relationships between a member of the Board of Directors with the Ultimate and/or Controlling Shareholder;
4. Affiliated relationships between a member of the Board of Commissioners with other members of the Board of
Commissioners; and
5. Affiliated relationships between a member of the Board of Commissioners with the Ultimate and/or Controlling
Shareholder.

AFFILIATED RELATIONSHIPS WITH MEMBERS OF THE BOARD OF DIRECTORS, FELLOW MEMBERS OF THE
BOARD OF COMMISSIONERS AND THE CONTROLLING SHAREHOLDER
Family Relationship with Financial Relationship with

Board of Board of Controlling Board of Board of Controlling
Name Position
Commissioners Directors Shareholder Commissioners Directors Shareholder
Yes No Yes No Yes No Yes No Yes No Yes No
Didi Syafruddin President - √ - √ - √ - √ - √ √ -
Yahya Commissioner
Glenn M. S. Yusuf Vice President - √ - √ - √ - √ - √ - √
Commissioner
(Independent)
Jeffrey Kairupan Independent - √ - √ - √ - √ - √ - √
Commissioner*
Sri Widowati Independent - √ - √ - √ - √ - √ - √
Commissioner
Dato’ Abdul Commissioner - √ - √ - √ - √ - √ √ -
Rahman Ahmad**
David Richard Commissioner - √ - √ - √ - √ - √ √ -
Thomas
*) Appointed as Senior Independent Commissioner through the Circular Resolutions of the Board of Commissioners of CIMB Niaga No. 014/DEKOM/KP/VI/2019 as of 28
June 2019
**)
Appointed at the EGM on 25 September 2020 and effective upon obtaining OJK approval and/or fulfilled the requirements as determined in the OJK approval
BOARD OF DIRECTORS
AFFILIATED RELATIONSHIPS WITH FELLOW MEMBERS OF THE BOARD OF DIRECTORS, MEMBERS OF THE
BOARD OF COMMISSIONERS AND THE CONTROLLING SHAREHOLDER
Family Relationship with Financial Relationship with

Board of Board of Controlling Board of Board of Controlling
Name Position
Commissioners Directors Shareholder Commissioners Directors Shareholder
Yes No Yes No Yes No Yes No Yes No Yes No
Tigor M. Siahaan President - √ - √ - √ - √ - √ - √
Director
Lee Kai Kwong Strategy, - √ - √ - √ - √ - √ - √
Finance
& SPAPM
Director
John Simon Treasury & - √ - √ - √ - √ - √ - √
Capital Market
Director
Vera Handajani Risk - √ - √ - √ - √ - √ - √
Management
Director
Lani Darmawan Consumer - √ - √ - √ - √ - √ - √
Banking
Director
Pandji P. Sharia Banking - √ - √ - √ - √ - √ - √
Djajanegara Director
Fransiska Oei Compliance, - √ - √ - √ - √ - √ - √
Corporate
Affairs & Legal
Director
Tjioe Mei Tjuen* Operations & - √ - √ - √ - √ - √ - √
Information
Technology
Director
*)
Appointed as Director at the AGM on 9 April 2020 and effective as of 3 November 2020

COMMITTEES UNDER
THE BOARD OF COMMISSIONERS
In carrying out its supervision duties, the Board of no financial, management, share ownership and/or
Commissioners is assisted by Committees under the family relationship with other members of the Board
Board of Commissioners, which consist of: of Commissioners, the Board of Directors and/or the
1. Audit Committee Controlling Shareholders, or other forms of relationship
2. Risk Oversight Committee with the Bank that may affect their independence. The
3. Nomination and Remuneration Committee implementation of the duties and responsibilities of
4. Integrated Governance Committee committees under the Board of Commissioners refers
to the respective Committee’s Charter, which is based
All of the committees under the Board of Commissioners on the prevailing regulations in Indonesia as well as best
are chaired by an Independent Commissioner who has practices that are reviewed periodically.
AUDIT COMMITTEE
The Audit Committee is tasked with the duties and AUDIT COMMITTEE CHARTER
responsibilities of assisting the Board of Commissioners The Audit Committee has a working guidelines in the
in reviewing and clarifying financial information, form of the Audit Committee Charter, which regulates
the selection, appointment and supervision of the the following:
independent auditors, evaluating the effectiveness of the 1. Objective
internal audit function and internal control mechanism. 2. Composition, structure, tenure and membership
The Audit Committee also supervises CIMB Niaga’s 3. Membership requirements
compliance with prevailing laws and regulations. 4. Duties and responsibilities
5. Authority
LEGAL BASIS 6. Guidelines, procedures and conduct of meetings
The Audit Committee was established based on the 7. Reporting
following regulations: 8. Handling complaints or reports in connection with
1. Otoritas Jasa Keuangan (OJK) Regulations and suspected violations related to financial reports
OJK Circular Letters concerning Implementation 9. Work ethics and working hours
of Corporate Governance in Commercial Banks,
Establishment and Working Guidelines of Audit Periodically, the Audit Committee Charter is reviewed
Committee, Implementation of Internal Audit and updated to comply with prevailing regulations and
Function in Commercial Banks, Board of Directors Bank’s requirements. The Audit Committee Charter was
and Board of Commissioners of Issuers or Public last updated on 29 May 2019 and has been uploaded to
Company, Compliance Function of Commercial CIMB Niaga’s website.
Banks, Anti-Fraud Strategy of Commercial Banks,
Public Accountant and Public Accounting Firm TERM OF OFFICE
Services in Financial Services Activities, as well as According to prevailing regulation, the term of office of
Affiliated Transactions and Conflict of Interest for the Audit Committee shall not be longer than the term
Certain Transactions. of office of the Board of Commissioners in accordance
2. CIMB Niaga’s Articles of Association concerning the with POJK No. 55/POJK.04/2015 and the Audit Committee
Board of Commissioners duties and authorities. Charter, and can be re-elected for only one subsequent
3. International Professional Practices Framework from period. The term of office of Committee members
the Institute of Internal Auditors. appointed in the middle of the term of office of the Board
4. The Bank’s Corporate Policy Manual. of Commissioners shall end at the same time as the term
of office of the Board of Commissioners.

AUDIT COMMITTEE MEMBERSHIP NUMBER, STRUCTURE AND COMPOSITION

In 2020, CIMB Niaga’s Audit Committee has 3 (three) members consisting of 1 (one) chairman and concurrently member
who is also an Independent Commissioner, and 2 (two) non-Commissioner members from independent party with
competence and qualifications in banking accounting and finance. The membership number, structure and composition
as well as independence of all members of the Audit Committee have met the applicable requirements as stipulated in
the Audit Committee Charter.
AUDIT COMMITTEE MEMBERSHIP IN 2020
January – April 2020
No Name Position in Bank Position in Committee Term of Office

1 Jeffrey Kairupan Independent Commissioner Chairman 2016 - 2020
2 Zulkifli M. Ali* Independent Commissioner Member 2016 - 2020
3 Mawar I. R. Napitupulu* Independent Party Member 2016 - 2020
4 Yap Tjay Soen *
Independent Party Member 2016 - 2020
*)
The term of office as Audit Committee Member ended effectively on the closing of the AGM on 9 April 2020
April - December 2020

1 Jeffrey Kairupan Independent Commissioner Chairman 2020 – 2024
2 Endang Kussulanjari S* Independent Party Member 2020 – 2024
3 Ronald T.A. Kassim** Independent Party Member 2020 – 2024
Appointed as Audit Committee Member effectively since the closing of the AGM on 9 April 2020
*)
**) Appointed as Audit Committee Member effectively as of 20 April 2020
PROFILES OF AUDIT COMMITTEE MEMBERS
JEFFREY KAIRUPAN
AUDIT COMMITTEE CHAIRMAN
First appointed as Chairman of the Audit Committee on 1 January 2019 and subsequently re-appointed
to the same position on 9 April 2020, concurrently serves as Chairman of the Integrated Governance
Committee.
He is currently also serves as an Independent Commissioner of the Bank.
His complete profile is presented in the Board of Commissioners’ Profiles

Legal Basis for Appointment as Audit Committee Chairman
• NRC Recommendation No. 004/NOMREM/KP/III/2020 dated 9 March 2020;
• Circular Resolution of the Board of Commissioners No. 008/DEKOM/KP/IV/2020 dated 9 April 2020;
• Circular Resolution of the Board of Directors No. 003/SIR/DIR/IV/2020 dated 20 April 2020.
ENDANG KUSSULANJARI S.
AUDIT COMMITTEE MEMBER
Appointed as Member of the Audit Committee effective as of 9 April 2020 and concurrently serves as
Member of the Integrated Governance Committee.
Domicile Jakarta
Education
• Master of Arts from University of Colorado Boulder, Colorado – USA (1987)
• Bachelor degree in Economics from Universitas Gadjah Mada, Yogyakarta, Indonesia (1981)

Work Experiences
• Deputy Commissioner AIMRPK OJK (2015 - 2016)
• Deputy Commissioner DKB2 OJK (2014 - 2015)
• Asistant Governor of Bank Indonesia (May - December 2013)
• Head of DPB2 Department of Bank Indonesia (2008 - 2013)
• Senior Main Researcher DPNP Bank Indonesia (April - August 2008)
• Head of Bank Indonesia Yogyakarta Office (2007 - 2008)
• Deputy Director DPB3 Bank Indonesia (2006 - 2007)
• Deputy Director DPMB1 Bank Indonesia (2002 - 2006)
• Deputy Director DPWB1 Bank Indonesia (2001 - 2002)
Concurrent Positions Commissioner of PT Pefindo Biro Kredit (2016 – present)
Share Ownership Nil
No affiliated relations with fellow Committee members, members of the Board of Commissioners, members of the Board of Directors, or the
Ultimate and Controlling Shareholders
Certification Level 5 Risk Management Certification
Legal Basis for Appointment as Audit Committee Member

RONALD T. A. KASIM
AUDIT COMMITTEE MEMBER
Appointed as Member of the Audit Committee effective as of 20 April 2020.

Age/Gender 53/Male
Domicile Jakarta
Education
• Doctor of Philosophy (PhD) in Leadership and Policy Innovation from Universitas Gadjah Mada –
Yogyakarta, Indonesia (2019)
• Master of Business Administration (MBA) – Business Administration & Management from Creighton
University - Omaha, Nebraska, USA (1994)
• Bachelor of Science in Business Administration, majoring in Finance (BSBA) from Creighton University
- Omaha, Nebraska, USA (1992)
Work Experiences
• Country Director of PT Trusting Social Indonesia – Jakarta, Indonesia (2017 - 2019)
• Director of PT Trust Teknologi Finansial (TrustIQ) – Jakarta, Indonesia (2018 - 2019)
• President Director of PT Pefindo Biro Kredit (PBK) – Jakarta, Indonesia (2015 - 2017)
• President Director of PT Pemeringkat Efek Indonesia (PEFINDO) – Jakarta, Indonesia (2010 - 2015)
• Senior Vice President – Strategic Information Management at PT Bank Permata Tbk – Jakarta, Indonesia (2009 - 2010)
• Project Manager – Risk Management Products at Fermat (a business unit of Moody’s Investors Service) – Paris, Dubai, Singapore (2007 - 2009)
• Senior Risk Management Consultant – Banking Risk Product at IPS-Sendero (a business unit of Fiserv, Inc.) – Scottsdale, AZ, USA (2004 - 2007)
• Finance Officer and Head of Financial Strategic Group at First National Capital Markets, Inc. – Omaha, NE, USA (2001 – 2004)
• Lead Financial Analyst of Asset-Liability Management Group at First National Bank of Omaha – Omaha, NE, USA (1999 – 2001)
• Head of Financial Institution Ratings Division at PT Pemeringkat Efek Indonesia (PEFINDO) – Jakarta, Indonesia (1994 – 1998)
Concurrent Positions Chief Advisor at PT Advance Intelligence Indonesia - Jakarta, Indonesia (2019 - present)
Share Ownership Nil
No affiliated relations with fellow Committee members, members of the Board of Commissioners, members of the Board of Directors, or the
Ultimate and Controlling Shareholders
Certification
• Chartered Financial Analyst (CFA)
• Level 4 Risk Management Certification
Legal Basis for Appointment as Audit Committee Member

• NRC Recommendation No. 006/NOMREM/KP/IV/2020 dated 17 April 2020;

TRAINING FOR AUDIT COMMITTEE MEMBERS

Data on training participated by Audit Committee members in 2020 is presented in the Company Profile Section of this
Annual Report.
AUDIT COMMITTEE INDEPENDENCY

All members of the Audit Committee have met all independency criteria and are able to perform their duties
independently, uphold the Bank’s interests and are not influenced by any parties. This is evidenced by the membership
composition that consists of 1 (one) Chairman who is an Independent Commissioner, and 2 (two) non-Commissioner
members from Independent Parties.
In accordance with OJK Regulation No.55/POJK.03/2016 concerning the Implementation of Corporate Governance for
Commercial Banks Article 41 paragraph 4, the Independent Commissioners and Independent Parties who are members
of the Audit Committee account for at least 51% (fifty one percent) of the total Audit Committee members. All members
of CIMB Niaga’s Audit Committee are Independent Commissioner and Independent Parties, thus the composition has
met the independence requirements.
INDEPENDENCY OF AUDIT COMMITTEE MEMBERS AS OF DECEMBER 2020
Jeffrey Endang Ronald

Independency Aspect
Kairupan Kussulanjari S. T. A. Kasim
Has no financial relationship with the Board of Commissioners and Board of Directors Yes Yes Yes
Has no management relationship at the Bank, subsidiaries or affiliate companies of Yes Yes Yes
the Bank
Has no shareholding relationship at the Bank Yes Yes Yes
Has no family relationship with the Board of Commissioners, Board of Directors, Yes Yes Yes
and/or fellow members of Audit Committee
Not serving as an administrator of political parties, officials or government Yes Yes Yes
DUTIES, RESPONSIBILITIES AND AUTHORITIES c. Reviewing the adequacy of the examination

The Audit Committee has the following duties and by Public Accounting Firm by considering all
responsibilities: important risks.
1. Reviewing financial information that will be issued by d. Monitoring and evaluating implementation of
CIMB Niaga to the public and/or authorities, such as the audit services on annual historical financial
financial statements, projections and other reports information by Public Accountant and/or the
related to the Bank’s financial information, including Public Accounting Firm including compliance
evaluating the conformity of financial statements with applicable financial accounting standards,
with prevailing financial accounting standards. adequacy of time for fieldwork, adequacy of
2. Reviewing compliance with laws and regulations sampling tests, and recommendations for
related to Bank activities. improvement given.
3. Providing independent opinion in the event of e. The Audit Committee’s evaluation results on the
differences of opinion between management and Public Accountant implementation duties are to
accountants for the services rendered. be submitted no later than 6 (six) months after
4. Assisting the Board of Commissioners in performing the fiscal year ends.
active supervision on the external auditor’s activities f. Ensuring the coordination if more than one Public
by: Accountant are assigned.
a. Providing recommendations to the Board of 5. Related to functional accountability of Internal Audit
Commissioners regarding the appointment and/ to the Audit Committee, the Audit Committee has the
or replacement of a Public Accountant based following responsibilities:
on and not limited to independency, scope of a. Providing recommendations to the Board of
assignment and fees, expertise, and methods Commissioners concerning the appointment,
used. dismissal, and performance assessment of the
b. Discussing audit plans which include the nature Chief Audit Executive.
and scope of the audit.

b. Reviewing, monitoring and evaluating audit 6. Reviewing and reporting to the Board of
planning and the effectiveness of audit Commissioners regarding complaints relating to the
implementation as well as monitoring the follow accounting process and financial reporting of the
up of audit results in order to assess the adequacy Bank, including if there are allegations of errors in
of internal control, including the adequacy of the the decisions in the Board of Directors meeting or
financial reporting process. deviation in the implementation of the resolutions
c. Assisting the Board of Commissioners to ensure of the Board of Directors meeting. If necessary, the
that the Board of Directors develop and maintain Committee may carry out examinations either by
an adequate, effective and efficient internal the Committee itself or by assignment of a third
control system.   party. The report must be submitted to the Board of
d. Assisting the Board of Commissioners to review Commissioners no later than 2 (two) working days
the effectiveness and efficiency of the internal after the completion of the report.
control system based on information received 7. Reviewing and providing suggestions and
from the Internal Audit at least once a year. recommendations to the Board of Commissioners
e. Providing recommendations to the Board regarding the plans for material affiliated transaction
of Commissioners related to the audit plan and potential conflicts of interest in the Bank
preparation, scope and budget for the Internal submitted by Management to the Audit Committee.
Audit. 8. Assist the Board of Commissioners in carrying out
f. Signing special reports regarding any internal active supervision of the compliance function by:
audit findings that could endanger the Bank’s a. Evaluating the implementation of the Bank’s
business continuity and report the internal audit Compliance Function against the Bank’s internal
implementation and main results to OJK. regulations and laws and regulations relating
g. Providing recommendations to the Board of to the Bank’s activities at least 2 (two) times in 1
Commissioners for approval of the internal audit (one) year.
charter. b. Providing suggestions to improve the quality of
h. Providing recommendations to the Board of the implementation of the Bank’s Compliance
Commissioners on the appointment of an Function.
independent quality reviewer from an external 9. Assisting the Board of Commissioners in carrying
party to conduct a review of the Internal Audit out active supervision of the implementation of anti-
performance. fraud strategies by reviewing the Anti-Fraud Strategy
i. Ensuring Internal Audit communicate with the Implementation Report submitted by the Anti-Fraud
Board of Directors, the Board of Commissioners, Management unit.
the Sharia Supervisory Board, external auditors, 10. Maintain the confidentiality of Bank documents, data
and the Financial Services Authority (OJK). and information.
j. Ensuring that the Internal Audit works 11. The Committee members conduct a collegial
independently. assessment for the performance of Audit Committee
k. Providing recommendations to the Board and individual assessment for performance of each
of Commissioners on the overall annual member and Committee Chairman, with the criteria
remuneration of the Internal Audit as well as and assessment process as set out in the Attachment
performance appreciation. to the Nomination and Remuneration Committee
l. Ensuring that Internal Audit upholds integrity in Charter.
carrying out its duties. 12. The Chairman of the Audit Committee has the duty
m. Assisting the Board of Commissioners to ensure and responsibility to coordinate all activities of the
that internal audit in the subsidiaries is carried Audit Committee to fulfill the objectives of the Audit
out using the Bank’s audit standard. Committee in accordance with its formation, including
n. Reviewing the audit report and ensuring the Board being responsible for the following matters:
of Directors takes the corrective actions needed a. Prepare the annual work plan;
quickly to overcome weaknesses in control, b. Prepare the annual schedule of committee
fraud, issues of compliance with policies, laws meetings;
and regulations, or other problems identified and c. Prepare regular reports on Committee activities
reported by the Internal Audit, external auditors as well as on matters considered of concern to the
and any other recommendations from regulator. Board of Commissioners;

d. Perform a self-assessment on the effectiveness of 2. To communicate directly with Bank employees

Audit Committee’s activities; including Board of Directors and/or Senior Executives/
e. Appoint a non-Commissioner member of Officers and parties who perform the functions of
the Audit Committee or other third party as Internal Audit, Risk Management, and accountants
Committee secretary to record committee related to the duties and responsibilities of the Audit
meetings and prepare the Minutes of Audit Committee.
Committee Meetings. 3. To involve independent parties outside of the Audit
13. Assist the Board of Commissioners to ensure that the Committee to assist in performing their duties (if
Board of Directors implements sustainability in the needed).
Bank. 4. To execute other authorities as delegated by the
Board of Commissioners.
The Audit Committee has the following authority:
1. To have access to the required Bank documents, data
and information regarding employees, funds, assets
and Bank resources.
AUDIT COMMITTEE MEETINGS AND ATTENDANCE

The Audit Committee Charter stipulates that the Audit Committee must hold meetings at least once every 3 (three)
months, and the meetings must be physically attended at least twice a year. Meetings can only be held if attended by
at least 51% (fifty- one percent) of the total members, including Independent Commissioners and Independent Parties.
Throughout 2020, the Audit Committee held 13 (thirteen) meetings, which included ratification of the minutes of
previous meeting, discussion of matters that needed to be followed up from the previous meeting, and other matters
requiring attention.
Table of Meeting Attendance of Audit Committee Members in January – December 2020
Attendance
in Audit Physical Attendance through Rate of Average Rate
Name
Committee Attendance Teleconference or Telepresence Attendance of Attendance
Meetings
Jeffrey Kairupan 13 2 11 100%
Endang Kussulanjari* 10 - 10 100%
Ronald T.A. Kassim** 10 - 10 100% 100%
Zulkifli M. Ali***
3 2 1 100%
Mawar I. R. Napitupulu*** 3 2 1 100%
Yap Tjay Soen ***
3 2 1 100%
*)
Appointed as Audit Committee Member effectively since the closing of the AGM on 9 April 2020
**)
Appointed as Audit Committee Member effectively as of 20 April 2020
***)
The term of office as Audit Committee Member ended effectively since the closing of the AGM on 9 April 2020
During 2020, Audit Committee meetings discussed the Commissioners regarding the appointment of a
following agendas: Public Accountant.
1. Meetings with the Finance Director and Bank’s d. Discussion on recommendations and the
Executives: progress of follow-up on audit results from
a. Review of financial reports, including the external auditors.
presentation and disclosure in the financial e. Discussion on issues related to asset and credit
statements, accounting treatment and policies, quality.
and compliance with generally accepted 2. Meetings with the Chief Audit Executive:
accounting principles. a. Discussion on the audit plan, audit scope
b. Review of financial performance and the and findings, follow-up on audit results
adequacy of published financial statements as recommendations, and the adequacy of the
well as reporting to the authorities. internal control system.
c. Provide recommendations to the Board of b. Internal Audit performance.

3. Meetings with the Compliance Director: 1. Reviewing the accountability and transparency of
a. Discussion on recommendations and progress financial statements.
of follow-up to the audit results from OJK, Bank 2. Reviewing the resilience of the Bank’s compliance and
Indonesia and Bank Negara Malaysia. control structures (including Sustainable Finance).
b. Discussion on identified compliance risks as 3. Conducting studies on the effectiveness of fraud
well as fines paid to Bank Indonesia. In addition, prevention, detection and investigation.
discussion on lessons learned from existing cases. 4. Reviewing the Anti Money Laundering Act.
c. Discussion of new rules and regulations and their 5. Conducting a study on Cyber Security.
effects to the Bank. 6. Reviewing Data Quality.
d. Discussion of the Bank’s sustainable report. 7. Conducting a study on Asset Quality.
4. Meetings with the Anti-Fraud Management (AFM) to 8. Conducting a study on the conditions of economic
discuss the implementation of anti-fraud strategies development including the response to the impact of
through four interrelated anti-fraud pillars, namely the COVID-19 pandemic.
Prevention, Detection, Investigation and Monitoring.
Several fraud prevention programs that have been AUDIT COMMITTEE STATEMENT ON THE
implemented including the Anti-Fraud Campaign EFFECTIVENESS OF INTERNAL CONTROL AND
Weeks, Anti-Fraud Awareness Training and RISK MANAGEMENT
Socialization, and E-learning and certification through The internal control system implemented by CIMB Niaga
applications, conducting investigations of fraud is considered to be effective and adequate, as reflected
cases, and monitoring of sanctions against fraud in the effective implementation of internal control
perpetrators and corrective actions taken by Bank so functions, including internal audit, risk management,
that fraud is not repeated in the future. compliance, finance, and operational controls.
5. Meetings with the Public Accountant to discuss
the audit plan, audit scope, audit findings, WORK PLANS IN 2021
recommendations on audit results, and the submitted For 2021, the Audit Committee has prepared its work
management letter. plans and established its strategic priorities as follow:
6. Meetings with Directors and related work units to 1. Reviewing the accountability and transparency of
ensure the adequacy of the internal control system, financial statements.
including in the management of Non-Performing 2. Conducting a review on the response to the impact of
Loans (NPL), Cyber Security Review, and Sharia the COVID-19 pandemic.
Banking, as well as the status of key projects in 2020. 3. Reviewing the resilience of the Bank’s compliance and
control structure (including Sustainable Finance).
REPORT OF AUDIT COMMITTEE DUTIES 4. Reviewing the effectiveness of fraud prevention,
IMPLEMENTATION IN 2020 detection and investigation.
The implementation of the duties of the Audit 5. Conducting review on data quality and technology
Committee in 2020 includes the following activities and (such as cyber security and IT infrastructure
recommendations made: resilience).
REMUNERATION FOR AUDIT COMMITTEE MEMBERS
1. REMUNERATION PACKAGE AND OTHER FACILITIES RECEIVED
Amount Received in 1 Year by

Audit Committee Members
Types of Remuneration and Other Facilities
2020 2019
Person Rp (Million) Person Rp (Million)
natura facilities)
which:
Total 6*) 5,687 5 9,258
*)
Including remuneration for Committee members that are no longer in position.

Total Audit Committee Members

Remuneration Per Person
2020 2019
2. VARIABLE REMUNERATION FOR AUDIT COMMITTEE MEMBERS

Audit Committee Members
Variable Remuneration
2020 2019
All Audit Committee members of CIMB Niaga did not receive any variable remuneration (shares or bonuses both based
of performance or non-performance as well as shares option).
JEFFREY KAIRUPAN
AUDIT COMMITTEE CHAIRMAN
ENDANG KUSSULANJARI S. RONALD T.A. KASSIM

AUDIT COMMITTEE MEMBER AUDIT COMMITTEE MEMBER

NOMINATION AND REMUNERATION COMMITTEE
The Nomination and Remuneration Committee (NRC) 5. Meeting protocols and procedures
is formed to assist the Board of Commissioners 6. Work ethics and working hour
in discharging its oversight responsibilities on the 7. Working protocols and procedures
implementation of the Bank’s policies on the nomination 8. Reporting
and remuneration of members of the Board of
Commissioners and the Board of Directors, the Sharia The NRC Charter was last updated on 26 June 2020
Supervisory Board, members of the Committees under and had been uploaded to the website of the Bank.
the Board of Commissioners and all employees of the Subsequently, the NRC Charter is reviewed periodically
Bank pursuant to prevailing statutory requirements. to align with prevailing rules and regulations.
LEGAL BASIS TERM OF OFFICE

CIMB Niaga has established the NRC on the basis of the According to applicable provisions, the term of office of
followings: the NRC shall not be longer than the term of office of
1. OJK Regulation and OJK Circular Letter regarding the the Board of Commissioners in accordance with POJK
implementation and organs of Corporate Governance, No. 34/POJK.04/2014 and the NRC Charter, and can be
the Committee of Nomination and Remuneration, the re-elected for only one subsequent period. The term of
Governance of Remuneration, and the Principles of office of Committee members appointed in the middle
Prudence for Commercial Banks that Outsource Part of the term of office of the Board of Commissioners shall
of Their Operations to Other Parties. end at the same time as the term of office of the Board
2. CIMB Niaga’s Articles of Association concerning the of Commissioners.
duties and authorities of the Board of Commissioners.
3. The Corporate Policy Manual. NOMINATION AND REMUNERATION
COMMITTEE MEMBERSHIP NUMBER,
NOMINATION AND REMUNERATION STRUCTURE AND COMPOSITION
COMMITTEE CHARTER The membership and composition, as well as
NRC has a Charter that governs its membership, structure, independency of the NRC members meet the prevailing
authorities, duties and responsibilities, meetings, statutory requirement. In 2020, the membership of
activities and working protocols in discharging its function NRC comprises of 4 (four) members, consists of 1
pursuant to OJK Regulation No. 34/POJK.04/2014. (one) Chairman concurrently as a member who was
an Independent Commissioner, with three other
The NRC Charter comprise of: members who are an Independent Commissioner, a
1. Objective Commissioner, and an Executive Officer in charge of
2. Composition, structure, membership and tenure period Human Resources. Members of the NRC are appointed
3. Membership Requirements by the Board of Directors with the approval of the Board
4. Duties, responsibilities, and authorities of Commissioners, on the recommendation of the NRC.
NOMINATION AND REMUNERATION COMMITTEE MEMBERSHIP IN 2020
January - April 2020

1 Pri Notowidigdo *
Independent Commissioner Chairman 2016 - 2020
2 Didi Syafruddin Yahya President Commissioner Member 2019 - 2023
3 Sri Widowati Independent Commissioner Member 2020 - 2023
4 Joni Raini Chief Human Resources Officer Member 2016 - 2020
*)
The term of office as NRC Member ended effectively on the closing of the AGM on 9 April 2020

April - December 2020

1 Sri Widowati*
Independent Commissioner Chairman 2020 – 2023
2 Didi Syafruddin Yahya President Commissioner Member 2019 – 2023
3 Glenn M. S. Yusuf** Independent Commissioner Member 2020 – 2024
4 Joni Raini*** Chief Human Resources Officer (Executive Officer Member 2020 – 2024
in charge of Human Resources)
Appointed as NRC Chairman effectively since the closing of the AGM on 9 April 2020
*)
**)
Appointed as NRC Member since the closing of the AGM on 9 April 2020 and effectively on 16 September 2020
***)
Reappointed as NRC Member effectively since the closing of the AGM on 9 April 2020
PROFILE OF THE NOMINATION AND REMUNERATION COMMITTEE MEMBERS
SRI WIDOWATI
NOMINATION AND REMUNERATION COMMITTEE CHAIRMAN
Appointed as NRC Chairman since 9 April 2020, after previously serving as a NRC Member since 2
January 2020.
She is currently also serves as an Independent Commissioner of the Bank.
Her complete profile is presented in the Board of Commissioners’ Profiles.

Legal Basis for Appointment as NRC Chairman

NOMINATION AND REMUNERATION COMMITTEE MEMBER
Appointed as a NRC member since 26 November 2019 and concurrently as a member of the Risk
Oversight Committee.
He is currently also serves as the President Commissioner.
His complete profile is presented in the Board of Commissioners’ Profile.

Legal Basis for Appointment as NRC Member
• NRC Recommendation No. 011/NOMREM/KP/XI/2019 dated 26 November 2019;
• Circular Resolution of the Board of Commissioners No. 021/DEKOM/KP/XI/2019 dated 26 November
2019;
• Circular Resolution of the Board of Directors No. 010/SIR/DIR/XI/2019 dated 26 November 2019.
GLENN M. S. YUSUF
Appointed as a NRC Member on 9 April 2020 and effectively on 16 September 2020, concurrently as Risk
Oversight Committee Chairman.
He is currently also serves as the Vice President Commissioner (Independent)

• Circular Resolution of the Board of Commissioners No. 008/DEKOM/KP/IV/2020 dated 9 April 2020; and

JONI RAINI
He is currently also serves as Chief Human Resources Officer (Executive Officer in charge of Human
Resources).
His complete profile is presented in the Senior Executives’ Profile.

Certification Level 4 Risk Management Certification

TRAINING OF THE NOMINATION AND d. Provide recommendations regarding Independent

REMUNERATION COMMITTEE MEMBERS Parties who will serve as members of the Audit
Data on training participated by NRC members in 2020 is Committee, Risk Oversight Committee and
presented in the Company Profile Section in this Annual Integrated Governance Committee.
Report.
2. Related to the remuneration policy:
NOMINATION AND REMUNERATION a. Evaluate the remuneration policy;
COMMITTEE INDEPENDENCY b. Evaluate the alignment of the remuneration policy
The NRC performs its duties, responsibilities and with its implementation;
authorities in a professional and independent manner, c. Provide recommendations to the Board of
without interference from any party, and pursuant to Commissioners regarding:
prevailing laws and regulations. i. Structure, policy and amount of remuneration
for members of the Board of Commissioners,
The members of NRC have met all independence criteria the Sharia Supervisory Board, the Board of
and are able to perform their duties independently, Directors and members of the Committees
uphold the interests of the Bank without influence from under the Board of Commissioners; and
all parties. This is evidenced by the fact that two of the ii. The framework of remuneration policy for
three Commissioners of the Bank who are Committee Executive Officers and employees of the
members are Independent Commissioners. Bank that has been approved by the Board of
Directors.
DUTIES, RESPONSIBILITIES, AND AUTHORITIES
The NRC is in charge, responsible, and authorized to provide 3. The Committee shall ensure that the remuneration
recommendations to the Board of Commissioners as follows: policy takes into account:
a. Financial performance and provisioning
1. Related to the nomination policy: requirements pursuant to prevailing rules and
a. Prepare and provide recommendations regarding regulations;
the system and procedures for nominating b. Individual work performance;
and/or replacing members of the Board of c. Fairness within the peer group;
Commissioners, Board of Directors, and the Sharia d. Consideration of the Bank’s long-term goals and
Supervisory Board to the Board of Commissioners strategies.
to be submitted to the GMS;
b. Provide recommendations regarding candidates 4. In the event that a Committee member has a conflict
for membership on the Board of Commissioners of interest with the proposed recommendation, the
and/or Board of Directors, and/or the Sharia proposal shall disclose the conflict of interest and the
Supervisory Board to the Board of Commissioners considerations underlying the proposal.
to be submitted to the GMS;
c. Evaluate the performance and establish
development programs for the Board of
Commissioners, Board of Directors and the Sharia
Supervisory Board;

NOMINATION AND REMUNERATION COMMITTEE MEETINGS AND ATTENDANCE

The NRC Charter stipulates that NRC Meetings are held in line with the business requirements of the Bank, at least once
every 4 (four) months. Meetings can only be held if attended by at least 51% (fifty one percent) of the total members,
including an Independent Commissioner and the HR Executive Officer.
In 2020, the NRC convened 7 (seven) meetings, with the following attendances:
Table of Meeting Attendance of Nomination and Remuneration Committee Members in January-December 2020
Attendance
Attendance in NRC Physical through Average Rate of
Name Rate of Attendance
Meetings Attendance Teleconference or Attendance
Telepresence
Sri Widowati 7 2 5 100%
Didi Syafruddin Yahya 7 2 5 100%
Glenn M. S. Yusuf* 5 - 5 100% 100%
Joni Raini 7 2 5 100%
Pri Notowidigdo** 2 2 - 100%
Appointed as NRC Member since the closing of the AGM on 9 April 2020 and effective on 16 September 2020
*)
**)
The term of office as NRC Member ended effectively on the closing of the AGM on 9 April 2020
In 2020, the meetings of the NRC discussed the following REPORT OF NOMINATION AND
agendas: REMUNERATION COMMITTEE DUTIES
1. Bank performance in 2019 IMPLEMENTATION IN 2020
2. Achievement of the KPI of the Board of Directors in In 2020, the NRC carried out the activities and provided a
2019 number of recommendations as follows:
3. Result of survey on internal satisfaction in 2019 1. Provided assessments and recommendations for the
4. Talent management and succession plan nomination of Directors, Commissioners, members
5. Result of evaluation on the collective performances of Committees and Independent Parties after
of the Board of Commissioners and the Board of considering the expertise, competence, background
Directors and experience of candidates proposed by the
6. Competency survey result of the Board of Commissioner Shareholders for further discussion at the General
7. 2020 Annual Review Meeting of Shareholders.
8. Remuneration for members of the Board of The Bank has used third-party service (search firm) in
Commissioners, Board of Directors, Committees of the the process of finding new candidate for Director in
Board of Commissioners and the Sharia Supervisory 2020.
Board 2. Provided direction and input on the framework of
9. Nomination of members to the Board of the Key Performance Indicator (KPI) of the Board of
Commissioners, the Board of Directors, Committees Directors in 2020, and key aspects that require the
of the Board of Commissioners including independent attention of the Board of Directors.
parties 3. Provided assessments and recommendations on the
10. Framework for the KPI of the Board of Directors in remuneration review for the Board of Commissioners,
2020 Board of Directors, Committee members and Sharia
11. COVID-19 & Employment Supervisory Board for 2019 so as to continuously
12. Implementation of Sustainability Finance maintain the level of fairness and competitiveness
13. Assessment of the effectiveness of the Board of to create a positive impact on the Bank’s overall
Commissioners and the Board of Directors performance.
14. Forward Ways of Working 4. Provided inputs and recommendations for the bonus
payments and salary increases as well as promotions
for employees in 2020 related to performance
achievements (KPI) in 2019.

5. Discussed and provided inputs on the assessments of the collective performances of the Board of Directors and the
Board of Commissioners, the individual performances of each Commissioner, and the performance of the President
Commissioners and those of the Chairman of the Committees of the Board of Commissioners.
6. Provided evaluation and direction on the KPI performance of the Board of Directors, and inputs to units that have
performed below targets to improve their performances.
7. Implemented the framework for Talent Management that comprises of the identification, development and
evaluation of talents that represents part of the commitments of the Bank towards succession planning especially
for Senior Management.
8. Provided direction and inputs related to the handling of COVID-19 by applying the health protocols and safety at
work to ensure the continuity of Bank’s operations in line with Government policies.
9. Assessed the required competences of the Board of Commissioners and the Board of Directors to minimize the gap
in the level of proficiencies between current members of the Board of Commissioners and the Board of Directors.
EVALUATION OF THE NOMINATION AND REMUNERATION COMMITTEE ON THE

IMPLEMENTATION OF THE BANK’S NOMINATION AND REMUNERATION POLICIES
In 2020, the NRC evaluated and assessed that the Bank has carried out its nomination process in accordance with the
principles of Good Corporate Governance, and that furthermore, the Bank’s remuneration structure and policies have
been carried out in accordance with the remuneration policies applicable to the banking industry, the principles of Good
Corporate Governance, and mindful of the considerations for risk-based remuneration.
WORK PLANS IN 2021

For 2021, the NRC has set forth its working plan that emphasizes the following strategic priorities:
1. Assess and recommend the nomination of members to the Board of Directors, Board of Commissioners, Committees
and/or Independent parties for membership on Committees to be submitted to the Board of Commissioners and
proposed at the GMS.
2. Review and recommend the KPI framework of the Board of Directors.
3. Evaluate the collegial and individual performances of members of the Board of Commissioners, Board of Directors,
and Committees under the Board of Commissioners.
4. Review and recommend the proposal for remuneration to members of the Board of Commissioners, Board of
Directors, Committees under the Board of Commissioners, and the Sharia Supervisory Board, as well as the
framework for the policy on remuneration for all executives and employees of the Bank.
5. Review and evaluate competency development programs for members of the Board of Commissioners, Board of
Directors and the Sharia Supervisory Board.
6. Continue the implementation Talent Management, Succession Plan and Self Development of the Directors and all
employees of the bank.
7. Review the initiatives or proactive and effective ways to create a working structure that is more relevant in post
COVID-19 pandemic.
REMUNERATION FOR NOMINATION AND REMUNERATION COMMITTEE MEMBERS
Amount Received in 1 Year by NRC Members

Types of Remuneration and Other Facilities 2020 2019
Remuneration (salary, routine allowance, tantiem, and other non- 4 7,297 4 4,418
natura facilities)
Other natura facilities (housing, transportation, health insurance, etc.) - - - -
which:
Total 4 7,297 4 4,418

Total NRC Members

2020 2019
2. VARIABLE REMUNERATION FOR NOMINATION AND REMUNERATION COMMITTEE MEMBERS
Amount Received in 1 Year by NRC Members

Variable Remuneration 2020 2019
All Nomination and Remuneration Committee members of CIMB Niaga did not receive any variable remuneration
(shares or bonuses both based of performance or non-performance as well as shares option).
BOARD OF DIRECTORS’ SUCCESSION POLICY

The succession policy for the Board of Directors and/or Senior Management in CIMB Niaga is governed under the Bank
Policy, as follows:
1. The Board of Commissioners, assisted by the NRC, ensure that the Bank adopts a talent management system that is
managed by the HR Directorate, as a tool to identify executive officers who have the potential to become the Bank’s
future leaders, maintaining the business continuity and long-term goals of the Bank.
2. The Human Resources Directorate, together with the Nomination and Remuneration Committee, identify talents
within the Bank and does not rule out potential talents who are professionals from outside the Bank, for the succession
planning of members of the Board of Directors, including the President Director and/or Senior Management.
3. For internal talents within the Bank, the Human Resources Directorate assesses and provides further opportunities
for the self-development of these talented employees, in the form of mandatory training and career development
opportunities, and others.
4. Talented employees who are considered as potential successors to members of the Board of Directors are further
evaluated and must meet the criteria to being candidates for membership on the Board of Directors of the Bank.
SRI WIDOWATI
NOMINATION AND REMUNERATION COMMITTEE CHAIRMAN
DIDI SYAFRUDDIN YAHYA GLENN M. S. YUSUF JONI RAINI

NOMINATION AND REMUNERATION NOMINATION AND REMUNERATION NOMINATION AND REMUNERATION
COMMITTEE MEMBER COMMITTEE MEMBER COMMITTEE MEMBER

RISK OVERSIGHT COMMITTEE
The Risk Oversight Committee (ROC) is formed by and is reviewed periodically to ensure its compliance with all
responsible to the Board of Commissioners, to assist the prevailing regulations and Bank requirements.
duties and responsibilities of the Board of Commissioners
in overseeing the implementation of Risk Management TERM OF OFFICE
by the Bank. According to applicable provisions, the term of office of
members of the ROC shall be no longer than the term
LEGAL BASIS of office of the Board of Commissioners as stipulated in
The ROC is established on the basis of: the Bank’s Articles of Association, and can be re-elected.
1. OJK Regulations and Circular Letters on the The term of office for Committee members who are
Governance Implementation of Commercial Banks appointed in between the terms of office of the Board of
2. The Bank’s Articles of Association Commissioners, shall end at the same time as the term of
3. The Corporate Policy Manual office of the current Board of Commissioners.
RISK OVERSIGHT COMMITTEE CHARTER RISK OVERSIGHT COMMITTEE MEMBERSHIP

CIMB Niaga’s Risk Oversight Committee has a Charter NUMBER, STRUCTURE AND COMPOSITION
that governs its membership, structure, authority, duties The membership, composition and independence of
and responsibilities, meetings, activities and working members of the ROC have met the requirements of
protocols of the Committee in discharging its duties. all prevailing regulations. In 2020, the ROC consisted
of 5 (five) members, 1 (one) who serves as the
The Risk Oversight Committee Charter consists of its: Committee Chairman and concurrently an Independent
1. Objective Commissioner of the Bank, 2 (two) Committee Members
2. Membership (Composition, Membership who are also Commissioners of the Bank, and 2 (two)
Requirements, Independence, Term of Office) non-Commissioner members as Independent Parties
3. Duties and Responsibilities with competencies and qualifications in Finance and Risk
4. Meetings Procedure Management. The ROC members were appointed by
5. Reporting the Board of Directors with the approval of the Board of
Commissioners, and based on the recommendation of
The ROC Charter was last updated on 21 April 2017 and the Nomination and Remuneration Committee.
has been uploaded to CIMB Niaga’s website. The Charter
RISK OVERSIGHT COMMITTEE MEMBERSHIP IN 2020
January – April 2020

1 Zulkifli M. Ali *
Independent Commissioner Chairman 2016 – 2020
2 Didi Syafruddin Yahya Commissioner Member 2019 – 2023
3 David R. Thomas Commissioner Member 2020 – 2022
4 Firmanzah **
Independent Party Member 2020 – 2024
5 Sri Tuti Hadiputranto Independent Party Member 2020 – 2024
*)
The term of office as a ROC Member ended effectively on the closing of the AGM on 9 April 2020
**)
Deceased on 6 February 2021
April – October 2020

1 Jeffrey Kairupan *
Independent Commissioner Chairman 2020 - 2024
2 Glenn M. S. Yusuf** Vice President Commissioner (Independent Commissioner) Member 2020 - 2024
4 David R. Thomas President Commissioner Member 2020 – 2022
5 Firmanzah*** Independent Party Member 2020 – 2024
*)
Served as the ROC Chairman during 17 June – 6 October 2020
**)
Appointed as ROC Member on the closing of the AGM on 9 April 2020 and effective since 16 September 2020
***)

October – December 2020

1 Glenn M. S. Yusuf *
Vice President Commissioner (Independent Chairman 2020 - 2024
Commissioner)
3 David R. Thomas Commissioner Member 2020 – 2022
4 Firmanzah** Independent Party Member 2020 – 2024
*)
Appointed as ROC Chairman effectively since 6 October 2020
**)
PROFILE OF THE RISK OVERSIGHT COMMITTEE MEMBERS
GLENN M. S. YUSUF
RISK OVERSIGHT COMMITTEE CHAIRMAN
Appointed as ROC Chairman effective since 6 October 2020, having been previously a ROC member since
the closing of the AGM on 9 April 2020 and effective on 16 September 2020, concurrently also a member
of the Nomination and Remuneration Committee.
He is currently also serves as the Vice President Commissioner (Independent) of the Bank.
His complete profile is presented in the Board of Commissioners’ Profiles.

Legal Basis for Appointment as ROC Chairman
• NRC Recommendation No. No. 006/NOMREM/KP/IX/2020 dated 25 September 2020;
• Circular Resolution of the Board of Commissioners No. 017/DEKOM/KP/X/2020 dated 2 October 2020;
• Circular Resolution of the Board of Directors No. 008/SIR/DIR/X/2020 dated 6 October 2020.

RISK OVERSIGHT COMMITTEE MEMBER
Appointed as a ROC member effective on 26 November 2019, concurrently also a member of the
Nomination and Remuneration Committee.
He is currently also serves as the President Commissioner of the Bank.

Legal Basis for Appointment as ROC Member
• NRC Recommendation No. 011/NOMREM/KP/XI/2019;
• Circular Resolution of the Board of Commissioners No. 021/DEKOM/KP/XI/2019;
• Circular Resolution of the Board of Directors No. 010/SIR/DIR/XI/2019;
All of the above of which are dated 26 November 2019.
DAVID RICHARD THOMAS

Appointed as a ROC member since November 2014, and reappointed on 15 April 2016 and 9 April 2020.
He is currently also serves as a Commissioner of the Bank.


FIRMANZAH*
Appointed as a ROC member since April 2016, and reappointed on 9 April 2020.
Age/Gender 44/Male
Domicile Jakarta
Education
• PhD in Strategic & International Management from the University of Pau et Pays de l’Adour, France
(2015).
• Master of Philosophy from University of Science and Technology of Lille 1, France (2002).
• MBA from University of Pierre Mendes-Grenoble II, France and Master of Management (2001).
• Economic degree from the University of Indonesia (1998).
Work Experiences
• Commissioner of PT Perusahaan Gas Negara (PGN) (2012 - 2015)
• Special Staff of the President of the Republic of Indonesia for Economy and Development (2012-2014)
• President Commissioner of PT Rajawali Nusantara (RNI) (2012 - 2013)
• Independent Commissioner of CIMB-Asset Principal Indonesia (2012)
• Member of the Advisory Council of the Minister of Fishery and Maritime of the Republic of Indonesia (2012 - 2013)
• Board of Advisors, the Indonesian Center for Public Policy Studies (ICPPS) (2011 - 2012)
• Dean of the Faculty of Economics and Business of the University of Indonesia (2009 - 2012)
• Head of Communication Department, the University of Indonesia (2008 - 2009), and Secretary to the Post Graduate Management Study
Program (PPIM) of the Faculty of Economics and Business of the University of Indonesia (2007 - 2008)
• Secretary to the Department of Management Science of the Faculty of Economics and Business of the University of Indonesia (2005 - 2007)
• Faculty Member and Researcher at the University of Pau et Pays de l’Adour (France) (2004 - 2005)
• Assistant Marketing Manager at PT JasNet (2000 - 2001)
• Consultant and Researcher at the Management Institute of the Faculty of Economics and Business (LM-FEB) of the University of Indonesia
(1999-2000)
• Market Analyst at PT Sewu New York Life (1998-1999)
• Independent Commissioner of PT Bakrie & Brothers (2018 - present)
• Member of the Committee on SMInfra 18 Index at PT Sarana Multi Infrastruktur (SMI) (2015 - present)
• Rector of Universitas Paramadina (2015 - present)
• Senior Lecturer, Faculty of Economics and Business, the University of Indonesia (2010 - present)
• Permanent Teaching Staff at Faculty of Economics and Business, the University of Indonesia (2005 - present)
Share Ownership Nil
No affiliate relationship with fellow Committee members, members of the Board of Commissioners, Board of Directors, or the Ultimate and
Certification -

*)
SRI TUTI HADIPUTRANTO

Appointed as a ROC member since July 2016, and reappointed on 9 April 2020.
Domicile Jakarta
Education
• Law degree from the University of Indonesia (1970).
• Master of Laws from the University of Washington (1981).

Work Experiences
• Co-founder of Hadiputranto, Hadinoto & Partners, the largest Law Firm in Indonesia, a member of the Baker & McKenzie International Law
Firm. Became an International Partner (1989 – 2016).
• A Member of the Board of Commissioners of PT Bursa Efek Indonesia (BEI) 2001 - 2004. In addition, as member of various Committees of BEI
for over a decade, serving last in the Stock Exchange Member Disciplinary Committee.
• President Commissioner of PT Mitra Adiperkasa Tbk (2020 - present)
• Senior Advisor at GT Group (2016 – present)
• President Commissioner of PT Bali Turtle Island Development (2017 - present)
• Independent Commissioner of PT Astra International Tbk. (2018 - present)
• Senior Advisor at PT Morgan Stanley Indonesia (2016 - present)
Share Ownership Nil
No affiliate relationship with fellow Committee members, members of the Board of Commissioners, Board of Directors, or the Ultimate and
Certification -

TRAINING FOR RISK OVERSIGHT COMMITTEE DUTIES, RESPONSIBILITIES AND AUTHORITIES

MEMBERS The main duties, responsibilities and authorities of the
Information of the training programs participated by ROC are to provide recommendations to the Board
members of the Risk Oversight Committee in 2020 is of Commissioners in support of the latter’s duties
presented in the Company Profile Section of this Annual and responsibilities pertaining to the oversight of risk
Report. management at the Bank, namely to:
1. Evaluate the alignment between the policy and
RISK OVERSIGHT COMMITTEE INDEPENDENCY implementation of risk management in the Bank; and
The ROC performs its duties, responsibilities and 2. Monitor and evaluate the performances of the Risk
authorities in a professional and independent manner, Management Committee and the Risk Management
without interference from any party, and pursuant Unit.
to prevailing laws and regulations. The members of
ROC have met all independence criteria and are able RISK OVERSIGHT COMMITTEE MEETINGS AND
to perform their duties independently, uphold the ATTENDANCE
interests of the Bank without influence from any party. The ROC Charter stipulates that the Committee must hold
This is evidenced by membership composition of 1 (one) meetings at least once a month and the meetings must
Chairman who is an Independent Commissioner, 2 (two) be attended in-person at least twice a year. Meetings can
members who are Commissioners of the Bank, and 2 only be held if attended by at least 51% (fifty-one percent)
(two) non-Commissioner from as independent parties. of the total number of members, including an Independent
Commissioner and an Independent Party.
In 2020, the ROC held 12 (twelve) meetings with the

attendance record as follows:

Table of Meeting Attendance of Risk Oversight Members in January - December 2020
Attendance
Attendance in ROC Physical through Average Rate of
Name Rate of Attendance
Meetings Attendance Teleconference or Attendance
Telepresence
Glenn M. S. Yusuf* 4 - 4 100%
Didi Syafruddin Yahya 12 2 10 100%
David R. Thomas 11 1 10 92%
98.7%
Firmanzah **
12 2 10 100%
Sri Tuti Hadiputranto 12 2 10 100%
Zulkifli M. Ali ***
3 2 1 100%
Appointed as a ROC Member on the closing of the AGM on 9 April 2020, effective on 16 September 2020, and subsequently appointed as the ROC Chairman effective on
*)
6 October 2020.
**)
The term of office as a ROC Member ended effectively on the closing of the AGM 9 April 2020.
***)
In 2020, the meetings of the Risk Oversight Committee Credit Policy, Liquidity Risk, and IRRBB.
discussed agendas which include the following: - Review on the implementation of risk
1. Agenda that relates to Risk Management governance: management, including: Market Risk, Strategic
- Monitor and evaluate the Realization of Work Risk, Compliance Risk, and Legal Risk.
Plan 2019 and Work Plan 2020 (Risk Oversight - Discuss monthly Economic Outlook report by
Committee). Bank Economist.
- Monitor and evaluate the Realization of Work - Monitor and discuss impact of COVID-19 on Bank
Plan 2019 and Work Plan 2020 (Risk Management performance.
Committee - RMC). - Discuss Bank capabilities and preparedness on
- Monitor and evaluate the Realization of Work Cyber Security.
Plan 2019 and Work Plan 2020 (Risk Management - Monitor and discuss business plan, strategy and
Unit). account planning for large debtor groups.
- Review and ratify the minutes of the Risk Oversight - Monitor and discuss Credit Assurance Testing
Committee meetings. report.
- Review discussions on the performances of
2. Agenda that relates to Capital and soundness of certain operating units.
Bank: - Monitor the implementation of IFRS9.
- Evaluate the risk management of capital, including
the implementation of Stress Tests (Group-wide, REPORT OF THE RISK OVERSIGHT
Management and Corona Virus) and ICAAP. COMMITTEES DUTIES IMPLEMENTATION IN
- Discuss mandatory reporting to Bank Supervision 2020
which include Risk Profile Report, Bank Soundness The Risk Oversight Committee undertook activities
Report and other reports. throughout 2020 in accordance with its Work Plan,
which is drawn up annually pursuant to the duties and
3. Agenda that relates to the risk profile of the Bank: responsibilities of the ROC as provided for in its Charter.
- Monitor monthly risk management reports (Risk In 2020, there were 26 additional agenda items from the
Appetite Statement/Risk Report) covering several work plan that was set at the beginning of the year, to
aspects of risk management (Credit, Market, ensure that the ROC meetings discuss the most up-to-
Liquidity, Operational and others). date and relevant topics related to the Bank.
- Recommend to the Board of Commissioners on
risk management policies, including: Non-retail

The duties of ROC that were carried out in 2020 involved d. The Credit Assurance Testing assessment results
activities and recommendations that include: presented every 3 months in an effort to improve
the underwriting process.
1. Review and submit recommendations to the Board of
Commissioners on: 4. Evaluate the bank’s strategy and steps with respect
a. Implementation of risk management policies/ to:
frameworks by the Board of Directors, and a. Latest report on the impact of COVID-19 on Bank
b. Bank’s risk appetite setting, including the risk Risk
appetite statement and risk posture. b. Latest report on the effects of implementing IFRS9
in 2020.
2. Evaluate the performances of the Risk Management
Committee and the Risk Management Unit as well RISK OVERSIGHT COMMITTEE ASSESSMENT
as the consistency between the Risk Management ON THE IMPLEMENTATION OF RISK
policies and their implementation by discussing: MANAGEMENT BY THE BANK
a. Risk Management strategies and policies The ROC assessed that the implementation of Risk
for various risk aspects, not only Credit Risk, Management by the Bank in 2020 had actively managed
Operational Risk, Liquidity Risk and Market Risk, the Bank’s Risk Profile through inherent risk monitoring
but also Legal Risk, Compliance Risk, Reputational and thereby strengthened the quality of risk management,
Risk and Information Technology Risk. enhanced Good Corporate Governance through various
b. Risk Management that is related to capital, risk committees, and maximized shareholder value
including Internal Capital Adequacy Assessment by managing capital comprehensively, and ensuring
Process and the implementation of stress tests. profitability and sustainable growth, enabling the Bank
c. Internal reports that include the monitoring results to maintain a sound balance sheet after accounting for
of material & emerging risk, macro-economic all risks.
conditions, the Bank’s financial performance,
and risk indicators to ensure compliance with the WORK PLANS FOR 2021
Bank’s risk appetite. For 2021, the ROC will continue to carry out its main duties
d. Mandatory reports that are submitted to the and responsibilities, namely to support the effectiveness
Bank’s supervisor consisting of the Risk Profile of the Board of Commissioners in discharging its duties
Report, the Risk Based Bank Rating Report and and responsibilities pertaining to risk management. In
other reports to ensure that the information addition to the work plan that have been established based
conveyed to the Bank supervisor accurately on the responsibilities stipulated in the Charter, the ROC
reflect the actual risks faced by the Bank. proactively continues to monitor and raise the latest risk-
related issues so that they remain relevant and up-to-date
3. Monitor the Bank’s credit risk by discussing: with the risks faced by the Bank.
a. Status of asset quality for each loan segment
to ensure each business unit has taken the
necessary measures to maintain and improve the
Bank’s assets quality in line with the established
risk posture and risk appetite.
b. Thematic review of loan portfolios that could be
negatively affected by COVID-19 in 2020.
c. Business plan, strategy and account planning for
Large Group borrowers.

REMUNERATION FOR RISK OVERSIGHT COMMITTEE MEMBERS

Amount Received in 1 Year by ROC Members
natura facilities)
which:
Total 7*) 12,089 6 8,545
*)
Including remuneration for Committee members that are no longer in position..
Total ROC Members

2020 2019
2. VARIABLE REMUNERATION FOR RISK OVERSIGHT COMMITTEE MEMBERS

ROC Members
Variable Remuneration
2020 2019
All Risk Oversight Committee members of CIMB Niaga did not receive any variable remuneration (shares or bonuses
both based of performance or non-performance as well as shares option).
GLENN M. S. YUSUF
RISK OVERSIGHT COMMITTEE CHAIRMAN
DIDI SYAFRUDDIN YAHYA DAVID RICHARD THOMAS

RISK OVERSIGHT COMMITTEE MEMBER RISK OVERSIGHT COMMITTEE MEMBER
FIRMANZAH* SRI TUTI HADIPUTRANTO

RISK OVERSIGHT COMMITTEE MEMBER RISK OVERSIGHT COMMITTEE MEMBER
*) Deceased on 6 February 2021

INTEGRATED GOVERNANCE COMMITTEE
CIMB Niaga as the Main Entity (ME) of the CIMB Indonesia TERM OF OFFICE
Financial Conglomerate (CIFC) has formed the Integrated The prevailing regulations stipulates that the term of office
Governance Committee (IG Committee) to assist the of members of the IG Committee who are Independent
duties of the Board of Commissioners as the Board of Commissioners of the Financial Services Institution (FSI)
Commissioners of ME, especially in the discharge of its of CIFC is 4 (four) years and/or does not exceed the term
function of oversight on the implementation of IG at of office at the FSI of CIFC. Meanwhile, the term of office
CIFC, pursuant to prevailing laws and regulations of members who are Independent Parties and/or other
parties (if any) is 4 (four) years and/or does not exceed
Composition of members of CIFC: the term of office of the Board of Commissioners of ME.
Main Entity : PT Bank CIMB Niaga Tbk (CIMB Niaga)
Members : PT CIMB Niaga Auto Finance (CNAF) INTEGRATED GOVERNANCE COMMITTEE
PT CIMB Niaga Sekuritas (CNS) NUMBER, STRUCTURE, AND COMPOSITION
The membership, composition and independency of IG
LEGAL BASIS Committee members have met the applicable criteria
The establishment of the IG Committee is based on the and conditions and in accordance with the IG Committee
following regulation: Charter. Members of the IG Committee are appointed
1. OJK Regulations and Circular Letters on the by the Board of Directors, with approval of the Board of
implementation of Integrated Governance for the Commissioners based on the recommendation of the
Financial Conglomerate. Nomination and Remuneration Committee, or in certain
2. The Articles of Association of CIMB Niaga regarding cases based on decisions of IG Committee meeting in
the duties and responsibilities of the Board of accordance with Appointment Letter of Financial Services
Commissioners. Institution member of the CIFC.
INTEGRATED GOVERNANCE COMMITTEE In 2020, the IG Committee comprises of 5 (five) members,

CHARTER 1 (one) of who is the Chairman and concurrently member
The IG Committee of CIMB Niaga has a Charter that who is an Independent Commissioner, 1 (one) member
regulates the membership, authorities, duties and who is an Independent Party, 1 (one) member who is
responsibilities, meetings, activities and work procedures member of the Sharia Supervisory Board of ME, and 2
of the IG Committee in carrying out its functions. (two) members who are Independent Commissioners of
the subsidiary entities as representatives of the financial
The IG Committee Charter is reviewed periodically so as to service institution members of CIFC.
comply with the prevailing rules and regulations and Bank’s
need. The IG Committee Charter was last updated on 3
October 2018 and has been uploaded to Bank’s website.
INTEGRATED GOVERNANCE COMMITTEE MEMBERSHIP IN 2020
No Name Position in Bank and in Subsidiaries Position in Term of Office

Committee
1 Jeffrey Kairupan Independent Commissioner of CIMB Niaga Chairman 2020 - 2024
2 Sri Widowati* Independent Commissioner of CIMB Niaga Chairman 2020 - 2023
3 Endang Kussulanjari S Independent Party Member 2020 - 2024
4 Serena K. Ferdinandus Independent Commissioner of CNAF Member 2020 - 2024
5 Yulizar D. Sanrego Member of the Sharia Supervisory Board of CIMB Niaga Member 2019 - 2023
6 Achiran Pandu Djajanto Independent Commissioner of CNS Member 2019 - 2022
*)
Appointed as Chairman of the IG Committee replacing Jeffrey Kairupan for 17 June – 6 October 2020.

PROFILES OF INTEGRATED GOVERNANCE COMMITTEE MEMBERS
JEFFREY KAIRUPAN
INTEGRATED GOVERNANCE COMMITTEE CHAIRMAN
Reappointed as the IG Committee Chairman effective since 6 October 2020 and concurrently as the
Audit Committee Chairman.
He is currently also serves as Independent Commissioner of the Bank.
His complete profile is presented in the Board of Commissioners’ Profiles.

Legal Basis for Appointment as IG Committee Chairman
• NRC Recommendation No. 006/NOMREM/KP/IX/2020 dated 25 September 2020
• Circular Resolution of the Board of Commissioners No. 017/DEKOM/KP/X/2020 dated 2 October 2020
• Circular Resolution of the Board of Directors No. 008/SIR/DIR/X/2020 dated 6 October 2020
ENDANG KUSSULANJARI S.
INTEGRATED GOVERNANCE COMMITTEE MEMBER
Appointed as the IG Committee Member since April 2016 and reappointed on 9 April 2020,
concurrently the Audit Committee Member.
Her complete profile is presented in the Audit Committee’s Profile.

Legal Basis for Appointment as IG Committee Member
• Circular Resolution of the Board of Directors No. 003/SIR/DIR/IV/2020 dated 20 April 2020
YULIZAR D. SANREGO
Appointed as the IG Committee member since March 2015 and reappointed on 15 April 2016 and
15 April 2019.
He is currently also serves as a Member of the Sharia Supervisory Board of the Bank.
His complete profile is presented in the Sharia Supervisory Board’s Profiles.

• Circular Resolution of the Board of Commissioners No. 006/DEKOM/KP/III/2019 dated 15 March 2019;
• Circular Resolution of the Board of Directors No. 004/SIR/DIR/IV/2019 dated 15 April 2019
SERENA K. FERDINANDUS
Appointed as the IG Committee member since March 2015 and reappointed on 15 April 2016 and 9
April 2020.
Domicile Jakarta
Education
Bachelor in Economics from the University of Indonesia (1986).
Work Experiences
• Risk Management Committee member at PT Elnusa Tbk (2016 - 2020)
• Audit Committee member at PT Blue Bird Tbk (2014 – 2020)
• Commissioner at PT Anpa Internasional (2012 - 2018)
• Audit Committee member at PT Elnusa Tbk (2015 - 2016)
• Audit Committee member at PT Chandra Asri Petrochemical Tbk (2009 - 2015)
• Audit Committee member at PT Barito Pacific Tbk (2009 - 2013)
• Senior Vice President Investment Banking Division at PT NC Securities (2002 - 2009)
• Vice President Investment Banking Division and Direct Investment Division at PT Danareksa (Persero) and PT Danareksa Finance (1996 - 2001)
• Manager Audit Division at Ernst & Young, Sarwoko & Sandjaja in Indonesia (1986 - 1995) and Ernst & Young, Dallas.

• Risk Oversight Committee Chairman at PT CIMB Niaga Auto Finance (2020 - present)
• Audit Committee member at PT Elnusa Tbk (2020 - present)
• Independent Commissioner and Audit Committee Chairman at PT CIMB Niaga Auto Finance (2012 - present)
• Chief Audit Executive (Internal Audit & Risk Management Head) at PT Ithaca Resources (2009 - present)
Share Ownership Nil
Not affiliated with fellow members of the Committee, members of the Board of Commissioners, members of the Board of Directors, or the
Ultimate and Controlling Shareholder.
Certification -

ACHIRAN PANDU DJAJANTO

Appointed as the IG Committee member since 7 August 2019.

Age/Gender 62/Male
Domicile Bekasi
Education
• Bachelor of Law from University of Gadjah Mada (1983)
• Magister of Management from Entrepreneur Development Institute (1997)
• Phd in Law from University of Gadjah Mada (2015)
Work Experiences
• Compliance and Risk Management Director of PT Jasa Marga (Persero) Tbk. (2015-2016)
• Expert Staff of the Minister of SOEs for Governance and Synergy (2014- 2015)
• Expert Staff of the Minister of SOEs for Human Resources and Technology (2014–2015)
• Expert Staff of the Minister of SOEs for Corporate Governance (2010 - 2013)
• Head of Legal Division of the Indonesian Bank Restructuring Agency (1998 - 2002)
• Head of the BPR Sub-Directorate of the Directorate General of Financial Institutions DJLK (1994 - 1998)
• Various Positions in Government Agencies since 1983.
Concurrent Positions Independent Commissioner of CNS (2018 - present)
Share Ownership Nil
Not affiliated with fellow members of the Committee, members of the Board of Commissioners, members of the Board of Directors, or the
Ultimate and Controlling Shareholder.
Certification -

• Decision of IGC Meeting on 7 August 2019;
• Decision of Board of Commissioners Meeting on 26 August 2019;
• Circular Resolution of the Board of Directors No. 009/SIR/DIR/IX/2019 dated 2 September 2019
TRAINING FOR INTEGRATED GOVERNANCE INTEGRATED GOVERNANCE COMMITTEE

COMMITTEE MEMBERS INDEPENDENCY
Data on training participated by IG Committee members IG Committee members have met all independency criteria
in 2020 is presented in the Company Profile Section of this and are capable of performing their duties independently,
Annual Report. upholding the Bank’s interest without interference from
any parties. This is evidenced in the minimum membership
requirements for the IG Committee, which is as follows:

1. An Independent Commissioner who serves as a. The integrated compliance function of the

Chairman of another committee at the Main Entity, Integrated Compliance Unit;
acting as Chairman concurrently as a member; b. The integrated internal audit function of
2. An Independent Commissioner who represents, and the Integrated Internal Audit Unit on the
is appointed from the Financial Services Institution implementation of internal audit; and
(FSI) within the Financial Conglomerate, as a member; c. The integrated risk management function for the
3. An independent party, as a member. implementation of integrated risk management
from the Integrated Risk Management Committee
DUTIES, RESPONSIBILITIES, AND AUTHORITIES and/or the Integrated Risk Management Unit,
The duties, responsibilities and authorities of the IG including but not limited to the obligation to apply
Committee include the followings: integrated minimum capital;
1. Evaluating the implementation of IG at least through 8. The Chairman of the Committee shall prepare and
the assessment of the adequacy of internal control submit a report to the Board of Commissioners of EM
and the implementation of the integrated compliance on each implementation of their duties accompanied
function; by recommendations (for approval if necessary).
2. Providing recommendations on the adequacy of
internal control and the implementation of the INTEGRATED GOVERNANCE COMMITTEE
integrated compliance function; MEETINGS AND ATTENDANCE
3. Providing recommendations in the context of The IG Committee Charter stipulates that the IG
implementing improved internal control, application Committee Meetings must hold at least twice a year.
of risk management and the application of good Meetings can only be held if attended by at least 51%
corporate governance; (fifty-one percent) of the total members, including the
4. Providing recommendations to the Board of Independent Commissioners and Independent Parties.
Commissioners of ME for the preparation and
improvement of the IG Guidelines; In 2020, the IG Committee held 2 (two) meetings, on
5. Organizing regular IG Committee meetings; 7 February 2020 and 7 August 2020, which included
6. Obtaining input, suggestions and recommendations ratification of the previous meetings minutes, discussion
from professional parties or other parties outside the regarding issues that needed to be followed-up from
EM, FSI or CIFC related to their duties as members of the previous meeting, and other matters that required
the IG Committee; attention, with attendance levels of the meetings as
7. Authorized to request information in the form of follows:
evaluation results from:
Table Of Meeting Attendance Of Integrated Governance Committee Members In January – December 2020
Attendance
Attendance at
Physical through Average Rate of
Name IG Committee Rate of Attendance
Attendance Teleconference or Attendance
Meetings
Telepresence
Jeffrey Kairupan 1 1 - 100%
Sri Widowati* 1 - 1 100%
Endang Kussulanjari S 2 1 1 100%
91.7%
Serena K. Ferdinandus 2 1 1 100%
Yulizar D. Sanrego 1 - 1 50%
Achiran Pandu Djajanto 2 1 1 100%
*)
Appointed as Chairman of the IG Committee replacing Jeffrey Kairupan for 17 June – 6 October 2020.
The agendas discussed at the IG Committee meetings in Other IG Committee Meeting Agenda besides the
2020, were as follows: Permanent Agenda:
1. IG Committee Meeting on 7 February 2020.
Permanent IG Committee Meeting Agenda: a. Report on Integrated Risk Management in 2nd half-
1. Confirmation on minutes of the previous IG year of 2019.
Committee meeting; b. Report on Integrated Minimum Capital Adequacy
2. Report on the results of follow-up or discussion as of December 2019
of issues that have not been completed from the c. Report on Integrated Internal Audit (including
previous IG Committee meeting. Sharia Audit Update) for 2nd half-year of 2019.

d. Report on Implementation of Integrated EVALUATION OF THE INTEGRATED

Governance in 2nd half-year of 2019. GOVERNANCE COMMITTEE ON THE
e. Report on Compliance of Integrated Governance IMPLEMENTATION OF THE INTEGRATED
in 2nd half-year of 2019. GOVERNANCE BY THE CIMB INDONESIA
2. IG Committee meeting on 7 August 2020 FINANCIAL CONGLOMERATE
a. Report on Integrated Risk Management in 1st half- The IG Committee evaluated the implementation of
year of 2020 Integrated Governance in the CIMB Indonesia Financial
b. Report on Integrated Minimum Capital Adequacy Conglomerate throughout 2020, including the adequacy
as of June 2020 of internal control, risk management, capitalization,
c. Report on Integrated Internal Audit (including and the compliance function on an integrated basis, all
Sharia Audit Update) for 1st half-year of 2020 of which were found to be generally satisfactory and in
d. Report on Implementation of Integrated accordance with the prevailing laws and regulations that
Governance in 1st half-year of 2020 govern the implementation of Integrated Governance by
e. Report on Compliance of Integrated Governance the financial conglomerate in Indonesia, and in proportion
in 1st half-year of 2020 to the size and complexity of the CIMB Indonesia Financial
Conglomerate. This implies that CIFC has implemented
REPORT OF INTEGRATED GOVERNANCE the principles of Integrated Governance comprehensively
COMMITTEE DUTIES IMPLEMENTATION IN 2020 and adequately, except for certain minor issues. These
During 2020, the IG Committee carried out activities that issues are generally insignificant and could be resolved/
focused on evaluating and/or reviewing the following corrected through normal actions either at the ME or the
reports and/or items: FSI members of the CIFC.
1. Report on the Integrated Risk Profile as part of the
Report on Integrated Risk Management. WORK PLANS IN 2021
2. Report on Integrated Minimum Capital Adequacy as Work Plan of the IG Committee for 2021 is as follows:
of December 2019 and June 2020. 1. Review the Integrated Risk Management Report.
3. Report on the Implementation of Integrated 2. Review the Integrated Minimum Tier-1 Capital
Governance in 2nd Half-year 2019 and 1st Half-year Adequacy Report.
2020, including the Integrated Compliance Report. 3. Review the Integrated Internal Audit Report, including
4. Report on the Integrated Internal Audit (Including Sharia Audit.
Sharia) for 2nd Half-year 2019 and 1st Half-year 2020. 4. Review the Integrated Compliance Report.
5. Periodic Self-Assessment Report on the 5. Review the Integrated Risk Profile Report.
Implementation of Integrated Governance for June 6. Review the Implementation of Integrated Governance
and December. Report.
6. Reviewed the Membership of the IG Committee. 7. Review the Integrated Governance Policy and provide
recommendation to the Main Entity’s Board of
Commissioners should any amendment required.
8. Provide report on Self-Assessment of the
Implementation of the Integrated Governance
regularly for the positions of June 2021 and December
2020.
REMUNERATION FOR INTEGRATED GOVERNANCE COMMITTEE MEMBERS
1. Remuneration Package and Other Facilities Received
Amount Received in 1 Year by IGC Members

Remuneration (salary, routine allowance, tantiem, and other non- 6*) 377 5 395
natura facilities)
which:
Total 6*)
377 5 395
*)
Including remuneration for Committee members that are no longer in position.

Total IGC Members

2020 2019
2. Variable Remuneration for Integrated Governance Committee Members
Amount Received in 1 Year by IGC Members

Variable Remuneration 2020 2019
All Integrated Governance Committee members of CIMB Niaga did not receive any variable remuneration (shares or
bonuses both based of performance or non-performance as well as shares option).
JEFFREY KAIRUPAN
INTEGRATED GOVERNANCE COMMITTEE CHAIRMAN
ENDANG KUSSULANJARI S. YULIZAR D. SANREGO

INTEGRATED GOVERNANCE COMMITTEE MEMBER INTEGRATED GOVERNANCE COMMITTEE MEMBER
SERENA K. FERDINANDUS ACHIRAN PANDU DJAJANTO

INTEGRATED GOVERNANCE COMMITTEE MEMBER INTEGRATED GOVERNANCE COMMITTEE MEMBER

COMMITTEES UNDER
THE BOARD OF DIRECTORS
CIMB Niaga has formed committees that are directly update and condition of risk profiles, as well as providing
responsible to the Board of Directors to help and support recommendations and remedial steps.
the duties and responsibilities of the Board of Directors,
namely the Executive Committee. In accordance to the STRUCTURE AND MEMBERSHIP
prevailing regulations, the Bank is required to have 3 Pursuant to the Charter of the Board of Directors of the
(three) Executive Committees that comprise of Risk Bank, the member of RMC should be at least 2/3 (two-
Management Committee, Assets & Liability Committee thirds) of the total members of the Board of Directors,
and IT Steering Committee. However, the Board of plus appointed Executive Officers one level below the
Directors is also authorized to form other Executive Board of Directors.
Committees as needed by the Bank.
Based on the RMC Minutes of Meeting that has been
In line with the complexities development of businesses approved on 28 April 2020, the RMC membership
that required the management and quality enhancement structure has been resolved, which is simultaneously
in the implementation of Good Corporate Governance, recognized as the assignment of the Chairman, Vice
therefore the Board of Directors has formed few other Chairman and Members of the Committee, as mentioned
committees. As of the end of 2020, CIMB Niaga has 4 below.
(four) Executive Committees (called Exco), as follows:
1. Risk Management Committee (RMC) RMC MEMBERSHIP STRUCTURE
2. Asset & Liability Committee (ALCO) Chairman : President Director
3. Information Technology Steering Committee (ITSC) Vice Chairman 1 : Risk Management Director
4. Credit Policy Committee (CPC) Vice Chairman 2 : Strategy, Finance & SPAPM Director
THE COMMITTEES’ POSITION IN THE BANK Members

STRUCTURE 1. Operations & Information Technology Director
The four Executive Committees are directly responsible 2. Treasury & Capital Market Director
to the Board of Directors, as shown in the corporate 3. Consumer Banking Director
governance structure of committees in the section on 4. Compliance, Corporate Affairs & Legal Director
Risk Management of this Annual Report. 5. Sharia Banking Director
6. Chief of Corporate Banking & Financial Institutions
RISK MANAGEMENT COMMITTEE (RMC) 7. Chief Special Asset Officer
8. Chief Audit Executive
MAIN FUNCTION AND AUTHORITY 9. Chief Human Resources Officer
RMC has the main function and authority to provide 10. Advisor SME
recommendations to the President Director in
formulating and perfecting the policies, evaluate the Secretary
Integrated Risk & Basel PMO Head
Profile of the members of RMC
SUKARMAN OMAR
ADVISOR SME
Age/Gender 61/Male
Domicile Jakarta
Appointed as the Advisor SME since 1 February 2020 after previously served as Chief of Micro, Small & Medium Enterprise Banking of
CIMB Niaga since November 2013. Previously, he had served in several positions at Bank Permata since 1986 and lastlyserved as the Head
of SME at Bank Permata. He graduated with a Bachelor degree from Universitas Ryama, Medan.
The profiles of the other RMC members are presented in the Profiles of the Board of Directors and Senior Executives in
the Company Profile section of this Annual Report.

DUTIES AND RESPONSIBILITIES 2. The quorum attendance of the meetings must be 5

1. Formulate and recommend policies and framework (five) members, including 4 (four) Directors and one
of risk management, including the risk management of them being the Chairman or Vice Chairman.
strategy of the Bank and Risk Appetite Statement 3. If the Chairman is absent, the Vice Chairman will lead
(RAS). the meeting.
2. Review the risk exposures and the implementation 4. If both the Chairman and Vice Chairman are absent,
of risk management in the Bank and its subsidiaries, anyone among the Members must be appointed and
both periodically and incidentally as a result of the Chairman chosen must be a Director
changes in the external and internal conditions of the 5. The quorum for the resolution of meetings must
Bank. be approved by more than 50% (fifty percent) of
3. Approve the risk profile report, stress testing including total members who is entitled to cas a vote; with 2
the scenarios and the follow up mitigating action. (two) Directors, one of who is the Chairman or Vice
4. Approve the specific policy on risk management Chairman.
beyond the policies that have been approved by the
other Executive Committees. REALIZATION OF WORK PROGRAM IN 2020
5. Review the capital adequacy of the Bank and its 1. Approval and evaluation of policies related to risk
subsidiary entities. management.
6. Approve the limit portfolio of the Bank/Management 2. Approval of several Basel and IFRS9 models including
Action Trigger (MAT); such as sectorial limit, house their validation for certain business segments.
limit, VaR limit, etc. 3. Approval of the framework for restructuring related
7. Evaluate and approve treasury market risk to the COVID-19 Stimulus.
limit, excess limit of market risk, changes in the 4. Approval of House Limit for several Big Debtors
measurement of market risk and credit risk factor for (>10% Tier-1 Capital).
treasury products. 5. Discussion of monthly risk reports on each type of
8. Receive report of decision taken by other committees risk, raise significant issues and providing direction
that comprise of: ALCO (Asset & Liabilities Committee), for follow up action by the related party.
ORC (Operational Risk Committee) and CPC (Credit 6. Approval and evaluation on risk limits and risk
Policy Committee). appetite.
9. Receive information on the decision made by 7. Approval on the risk profile report and RBBR for
Business Development Committee (BDC) in relation the Bank, Sharia Business Unit, Consolidated and
to new products and activities. Integrated.
10. Supervise the management of asset quality: 8. Approval of scenarios and results of several stress
a. To review that business units have a process tests.
for reviewing asset quality and an early warning 9. Approval of risk assessment results in 2020.
system in the identification, classification,
reporting, and monitoring of every non- WORK PLANS FOR 2021
performing loans according to the prevailing 1. Approval and evaluation of policies related to risk
regulations. management.
b. To review asset quality in line with the overall risk 2. Approval and evaluation on risk limits and risk
appetite of the Bank. appetite.
c. To review and discuss on the portfolio trends and 3. Enhancing the role of Committee in reviewing the
assets quality in order to identify the possibility of implementation of best practices in risk management.
risks appearance. 4. Increasing the effectiveness of meeting by focusing
11. Approve risk model with respect to the capital on key risk issues.
adequacy, reserve requirement and other business 5. Complying with the BI and OJK regulations in risk
uses. management sector.
MEETING, QUORUMS AND RESOLUTIONS CERTIFICATION

1. Meetings are held at least 10 (ten) times a year. Membership to RMC does not require any certain
certification.

ASSET & LIABILITY COMMITTEE (ALCO) The profiles of members of ALCO are presented in the
Profiles of the Board of Directors and Senior Executives
MAIN FUNCTION AND AUTHORITY in Company Profile section of this Annual Report.
ALCO is a supporting committee of the Board of Directors
which duties is to analyze and evaluate the management DUTIES AND RESPONSIBILITIES
of assets and liabilities, and taking decisions with respect
to the formulation of policies, strategies and targets for 1. Balance Sheet and Net Interest Income (NII)
managing assets and liabilities of the Bank, integratedly. a. Examine and analyze the balance sheet of the
In addition, ALCO has the authority over the Sharia Pricing Bank based on business, composition of assets
Committee (the Syariah PC). Syariah PC has the autonomy and liabilities, currency, growth, income and
of deciding on the rate of gross yield distribution, which is margin.
routinely reported to the ALCO meeting. b. Examine the variation that arises between targets
and the actual balance sheet, and how such
STRUCTURE AND MEMBERSHIP variation would impact on funding and lending,
In line with the Charter of the Board of Directors of the balance sheet ratios, and whether the Bank is still
Bank, the membership of ALCO is at least 2/3 (two-thirds) within its risk appetite limits.
of the total members of the Board of Directors, plus c. Examine trends in Net Interest Income (NII) and
appointed Executive Officers one level below the Board Net Interest Margin (NIM), including the projection,
of Directors. variation with NIM targets, and elaborate on
needed actions.
Through the ALCO’s Terms of Reference (ToR) that d. Examine the impact on NII under Base Case
has been renewed on 28 July 2020, the structure of condition and also under Stressed Economic
ALCO membership has been determined (including Scenarios.
the membership structure of Syariah PC), which is e. Examine and ensure that the framework of Fund
simultaneously recognized as the assignment of Transfer Pricing (FTP) is in line with and functions
the Chairman, Vice Chairman and Members of the as a bridge between business lines in designing
Committee, as mentioned below. and implementing FTP, and ensuring consistency
in the performance of the Bank.
ALCO MEMBERSHIP STRUCTURE f. Examine and approve the Pricing that requires
Chairman : President Director the approval from regulator as well as the
Vice Chairman 1 : Strategy, Finance & SPAPM Director Pricing for new and old products to align with the
Vice Chairman 2 : Treasury & Capital Market Director strategic business objectives of the Bank through
a quorum requirement.
Members
1. Risk Management Director 2. Contingency Funding Plans
2. Consumer Banking Director a. Examine Contingency Funding Plan (CFP) as
3. Sharia Banking Director the business operational plan and measure
4. Operations & Information Technology Director the capacity of such plan to ascertain that
5. Compliance, Corporate Affairs & Legal Director management actions are realistic; and
b. Ensure that the Early Warning Indicators are
Secretary relevant with current conditions.
Head of Asset & Liability Management
3. Asset Liability Management
MEMBERSHIP STRUCTURE OF SYARIAH PC a. Examine the framework and policy of Asset
Chairman : Sharia Banking Director and Liability Management to ensure that those
Vice Chairman 1 : Strategy, Finance & SPAPM Director framework and policies are in line with the
Vice Chairman 2 : Treasury & Capital Market Director operational scale and the current and the future
complexities of CIMB Niaga ;
Members b. Uphold the consistency of the practices and
1. Head of Syariah Business Banking policies by the Bank;
2. Head of Syariah Consumer
3. Head of Retail Product & Segment
4. Head of Advisory & Legal
c. Approve the Management Action Trigger (MAT)/ SYARIAH PC

the limit of liquidity and interest rate risk in the 1. The quorum attendance of the meetings at least
Banking Book; of 1/2n+1 or a minimum of 3 (three) members of
d. Establish, monitor, and evaluate protection the Syariah PC which consist of Chairman or Vice
strategy of all entities under CIMB Niaga; Chairman.
e. Examine and ensure that the risk profile of the 2. In the event there is a member of the Syariah PC who
Bank is still within the specified limit of MAT/ cannot attend a meeting, his or her position can be
the limit of liquidity and interest rate risk in the replaced by someone appointed by the said Syariah
Banking Book, including evaluating the result of PC member.
internal stress tests and regulations in all material 3. Resolution of meetings can be made when the
currencies and banking entities within the CIMB meeting’s quorum is fulfilled.
Niaga Group;
f. Examine and approve the parameter models for REALIZATION OF WORK PROGRAMS IN 2020
ALM risk and validation model; and 1. Maintaining optimum composition of balance sheet
g. Identify and evaluate the funding and liquidity and active management of NII that are impacted by
needs, and take appropriate steps for certain the COVID-19 pandemic.
conditions of liquidity and funding. 2. Ensuring the liquidity of the Bank at optimum
level amid uncertainties throughout the COVID-19
4. Syariah PC pandemic period.
a. Determine Gross Yield for the current month 3. Actively maintaining the liquidity ratio - Liquidity
and ensure that Gross Yield is in line with Sharia Coverage Ratio (LCR) and Net Stable Funding Ratio
Compliance; (NSFR) above the requirement of regulator, and
b. Establish or change the level of nisbah (profit implementing an internal incentive scheme through
sharing) if needed; the Fund Transfer Pricing on funding sources that
c. Determine the amount of cost that should be have higher LCR value.
set aside or placed in reserve for the purpose of 4. Ensuring the availability of diversified alternative
profit equalization under the Sharia principles; funding sources, if needed.
d. Determine the amount of hibah (grant), if any, to 5. Monitoring and revising the pricing strategy for
be provided; actively funding by considering the level of funding
e. Undertake activities that have been delegated by needs, condition and competition in the market, and
ALCO from time to time. the maximum level of funding pricing allowed by the
regulator.
MEETINGS, QUORUMS AND RESOLUTIONS
WORK PLANS FOR 2021
ALCO 1. Anticipating policies and decisions on the
1. Meetings are held at least 12 (twelve) times a year. management of ALMA actively due to the impact of
2. The quorum attendance of the meeting is at least 2/3 COVID-19 pandemic.
(two-thirds) of the number of Director members. 2. Ensuring that the liquidity of the Bank is always at
3. Quorum for resolution of meetings is the approval optimum level.
of at least 2/3 (two-thirds) of the number of Director 3. Actively maintaining the liquidity ratio - Liquidity
members present at the meeting. Coverage Ratio (LCR) and Net Stable Funding Ratio
4. Quorum on attendance and resolution of meetings (NSFR) are above the requirement of regulator.
can be delegated to at least 2 (two) out of 3 (three) 4. Ensuring the availability of diversified alternative
members of the Board of Directors as follows: funding sources, if needed.
• Chairman : President Director 5. Managing pricing strategy on active funding.
• Vice Chairman 1 : Strategy, Finance & SPAPM Director
• Vice Chairman 2 : Treasury & Capital Market Director CERTIFICATION
ALCO membership does not require any certification.

INFORMATION TECHNOLOGY STEERING DUTIES AND RESPONSIBILITIES

COMMITTEE (ITSC) The duties and responsibilities of ITSC is to provide
recommendations related to:
MAIN FUNCTION AND AUTHORITY 1. The Strategic Plan for Information Technology (IT)
ITSC is responsible for reviewing and recommending that is in line with the business strategy of the Bank.
policies on the management and development of CIMB Matters that must be considered are:
Niaga’s technology and information system. a. Road map to meet IT’s needs to support the
business strategy of the Bank;
STRUCTURE AND MEMBERSHIP b. Requirement for human resources;
Pursuant to the Charter of the Board of Directors of c. Benefits from the implementation of the IT’s
the Bank, the members of ITSC should be at least 2/3 Strategic Plan; and
(two-thirds) of the number of members of the Board of d. Problems that may be encountered in the
Directors, plus appointed Executive Officers one level implementation of the IT’s Strategic Plan.
below the Board of Directors. 2. Formulating the main IT policies, standards, and
procedures, such as policies on the security of IT and
Through the Term of Reference (ToR) of ITSC that has risk management related to the use of IT by the Bank.
been approved by the ITSC meeting on 14 July 2020, 3. The suitability between the approved IT’s project with
the membership structure of ITSC who also serves or the IT Strategic Plan. The Committee also establishes
recognized as the assignment of the Chairman, Vice the priority status of IT projects that are critical and
Chairman and members of the Committee as shown have significant bearing on the Bank’s operations.
below. 4. The suitability between the IT’s project implementation
with the approved project plan (Project Charter). ITSC
The membership structure of ITSC has been aligned with also completes the recommendation with the analysis
OJK Regulation No. 38/POJK.03/2016 and OJK Circular result of the main IT project. This agenda is also part
Letter No. 21/SEOJK/03/2017 on the Implementation of of the CIC (Capital Investment Committee) agenda.
Risk Management in the Use of Information Technology 5. The suitability between the IT with the requirement
by a Commercial Bank. for the management information system and that of
the Bank’s business activity.
MEMBERSHIP STRUCTURE OF ITSC 6. Effectiveness steps taken to minimize risks towards
Chairman : President Director the Bank’s investment in the IT sector to enable
Vice Chairman 1 : Operation & Information Technology the Bank’s investment in the IT sector gives the
Director contribution to the achievement of the Bank’s
Vice Chairman 2 : Strategy, Finance & SPAPM Director business objective. This agenda is also part of the CIC
(Capital Investment Committee) agenda.
Members 7. Monitoring on the IT’s performance and efforts to
1. Risk Management Director improve IT’s performance.
2. Consumer Banking Director 8. Making efforts to resolve IT issues that cannot be
3. Treasury & Capital Market Director resolved by the respective IT users in an effective,
4. Sharia Banking Director efficient and timely manner.
5. Business Banking Director 9. Ensuring the adequacy and allocation of resources of
6. Compliance, Corporate Affairs & Legal Director the Bank.
7. Chief Human Resource Officer 10. Planning for Strategic Cybersecurity that is in line
8. Chief Audit Executive with the risk appetite of the Bank, followed by a
9. Head of Information Technology (Member comprehensive working plan for technological
concurrently Secretary) operations and risk management.
The profiles of members of ITSC are presented in the MEETINGS, QUORUMS AND RESOLUTIONS
Profiles of the Board of Directors and Senior Executives 1. Meetings are held at least 4 (four) times a year.
in the Company Profile’s section of this Annual Report. 2. Quorum attendance of the meetings must be at least
2/3 (two-thirds) of the total members of the Board of
Directors.

3. Quorum for resolution of meetings is the approval of CREDIT POLICY COMMITTEE (CPC)
more than 2/3 (two-thirds) of the total members of
the Board of Directors present in the meeting. MAIN FUNCTION AND AUTHORITY
The CPC at CIMB Niaga has the role of assisting the Board
REALIZATION OF WORK PROGRAMS IN 2020 of Directors in formulating credit policies, as well as
1. Defining IT Strategic Plan 2021-2023. recommending improvements thereof. In addition, CPC
2. Defining IT Security Roadmap as part of the IT function is also to ensure adherence to the principles of
Strategic Plan 2021-2023. Corporate Governance in the framework of credit policies
3. Defining IT projects in the 2020 annual budget. in the interest of the Bank and its stakeholders.
4. Routinely monitor the progress status of information
technology projects in the 2020 annual budget. STRUCTURE AND MEMBERSHIP
5. Monitoring and consulting on the mitigation of cyber- Pursuant to the Charter of the Board of Directors of the
attacks on the IT system of CIMB Niaga. Bank, the membership of CPC should be at least 2/3
6. Monitoring and consulting on the use of IT budget (two-thirds) of the number of members of the Board of
and capital expenditures. Directors, plus appointed Executive Officers one level
7. Monitoring and consulting on IT issues. below the Board of Directors.
8. Analyzing the alignment between the rules and
regulations of OJK and Bank Indonesia with the Through the Charter of CPC that has been approved
policies and procedures of the Bank. in the CPC meeting on 14 April 2020, the membership
9. Monitoring the follow-up actions on reviews of structure of CPC which also serves or recognized as
baseline technology. the assignment of the Chairman, Vice Chairman and
10. Monitoring the status of obsolete technology. members of the Committee as shown below.
WORK PLANS FOR 2021 The membership structure of CPC has been aligned with
1. Recommend the IT Strategic Plan 2022 – 2024. OJK Regulation No. 42/POJK.03/2017 on the Mandatory
2. Recommend formulation of the main policies, Formulation and Implementation of Bank Credit or
standards and procedures of IT. Financing Policies for a Commercial Bank.
3. Recommend formulation of 2021 budget for IT
projects in line with the Strategic Plan of IT. MEMBERSHIP STRUCTURE OF CPC
4. Recommend the execution of IT projects. Chairman : President Director
5. Recommend the alignment of IT with management Vice Chairman 1 : Risk Management Director
information system requirements and the business Vice Chairman 2 : Consumer Banking Director
activities of the Bank.
6. Review/monitor the use of the IT budget and capital Members
expenditures. 1. Treasury & Capital Market Director
7. Monitor the efficiency of IT service. 2. Operations & Information Technology Director
8. Monitor IT issues. 3. Compliance, Corporate Affairs & Legal Director
9. Recommend analysis of IT resources of the Bank. 4. Strategy, Finance & SPAPM Director
10. Recommend Cybersecurity Strategic Plan and 5. Sharia Banking Director
monitor cyber-attack on the Bank’s system. 6. Chief Special Asset Officer
7. Chief of Corporate Banking & Financial Institution;
CERTIFICATION and Chief of Transaction Banking
ITSC membership does not require any certification. 8. Chief Audit Executive
Secretary
Head of Non-Retail Credit Policy and Assurance Testing
The profiles of members of CPC are presented in the

Profiles of the Board of Directors and Senior Executives
in the Company Profile’s section of this Annual Report.

DUTIES AND RESPONSIBILITIES analyses, loan takeovers, and approval of high

1. Defining the direction of credit policies (including risk risk credit.
acceptance criteria, process and credit approval), 6. Update of Sector Appetite and House Limit Policy
in line with risk appetite of the Bank to propel the 2020.
growth of credit of good quality while keeping to 7. Update of the Policy on the Appointment of a
prudential banking practices. Third Party as a working partner of the Bank
2. Defining and ensuring the consistency of: such as the Public Accounting Firm, Notary Firm,
a. The Bank’s compliance toward credit management Appraisal Firm, and Insurance.
policies and prevailing regulations, especially 8. Alignment of the Policy on the Management
those with significant risk exposures; of Non-Performing Loans related to the
b. Approval for the policies and strategies of credit Management of Foreclosed Collateral Assets and
management of the Bank; and Credit Write-offs related to the Criteria for Book
c. Oversight on the implementation of credit Write-offs/Receivables Write-offs, the Mechanism
policies. for the Execution and Reporting of Book Write-
3. Approval of the criteria for selecting Bank executives offs/Receivables Write-offs.
for membership to the Credit Committee. 9. Update on the Policy of Credit Program and
Account Maintenance, Credit Monitoring and
MEETINGS, QUORUMS AND RESOLUTIONS Reporting.
1. Meetings are held at least 10 (ten) times a year. 10. Alignment of Terms of Reference (TOR) on
2. The meeting is valid and entitled to resolve binding Approval Authority, related among other things
resolution if the meeting are attended by more than to TOR Non Performing Loan (NPL), TOR Board
2/3 (two-thirds) of the members with the provision of Commissioners (BOC) Sub Committee, TOR
that it must include at least 2/3 (two-thirds) of the Joint Delegated Authority (JDA), TOR JDA Banks,
total of the Board of Directors. Delegation of Authority (Carve Out) ECC and TOR
3. Resolutions of meetings must be agreed upon DA SME.
through consensus. 11. Alignment of the Policy on Trade Finance Products,
4. In case where a consensus cannot be reached, the including among other things Preliminary
resolution must be made through voting with more Covenants, Anti Money Laundering, Sight and
than 2/3 (two thirds) of the attending members voting Usance L/C, Domestic L/C, Bank Guarantees,
in favor of the resolution, with the provision that 2/3 Retail Trade Program and the Revamped Factoring
(two thirds) of the consenting votes come from the Facility (into other form of receivables).
Directors. 12. Counterparty Policy related to Counterparty
Category.
REALIZATION OF WORK PROGRAMS IN 2020 13. Definition of Legal Policy & Procedure related to
Update and alignment of the Credit Policy: the Registration of Fiduciary Collateral Object and
the Drafting of Audit Report of the Credit Legal
A. Commercial (Conventional & Sharia) Document.
Updating and alignment of credit policies with external
regulations such as OJK regulation, government B. SME
regulation, and the internal rules of the Bank in line 1. Alignment of the Regulation on the Process
with its risk appetite, as follows: Simplification of Term Loan Reviews as well as
1. Alignment of the Policy on Defining Asset Quality Term Loan Reviews by Portfolio Approach (Loan >
pursuant to OJK Regulation No. 40/POJK.03/2019. Rp10 billion – Rp15 billion).
2. Alignment of the Policy on Credit Concentration 2. Formulation of the Policy and Framework/Action
related to Lending Limit pursuant to OJK Plan on debtors affected by the spreading of
Regulation No. 38/POJK.03/2019. COVID-19 pursuant to OJK Regulation No. 11/
3. Formulation of the Policy and Framework/Action POJK.03/2020 including its amendment, such
Plan on debtors affected by COVID-19 pandemic as definition of debtor criteria, industry sector,
pursuant to OJK Regulation No. 11/POJK.03/2020 restructuring terms and level of approval.
including changes such as definition of debtor 3. Provisions on Back to Back Loan Facility with Cash
criteria, industry sector, restructuring terms and Collateral.
level of approval. 4. Provisions on Foreign Exchange (FX) Facility:
4. Updating of the Principal Credit Policies of the Forward up to one year with minimum Cash
Bank. Collateral at least 100% CRF.
5. Alignment of the Policy on Credit Disbursement, 5. Provisions on Financing: Trade Finance Facility for
which among other things relate to credit the Retail Lending Program of SME.

6. Provisions on Commercial Properties for Platinum management of debtors affected by the spreading
Developers. of COVID-19, and defining the strategy for such
7. Provisions on Frequencies of Business Visits. management, while also identifying the impact on the
8. Provisions on the Usage of IMB Certificate for the Bank’s policies and strategies.
SME Retail Lending Program. 4. Identify new regulations issued by the regulator, and
their impact on the internal policies of the Bank.
C. Consumer
Throughout 2020, CIMB Niaga undertook several CERTIFICATION
alignments on the Policy for retail products to CPC membership does not require any certification.
external policies issued by the regulator, government
regulations and the Bank’s business strategy in line THE PROCEDURE FOR APPOINTMENT AND
with its risk appetite, including in anticipation and TERMINATION OF THE CHAIRMAN OF EXCO
management of the impact of COVID-19 pandemic. All of the Executive Committee of CIMB Niaga is Chaired
by the President Director of the Bank, the appointment
WORK PLANS 2021 and termination as well as his term of office, are defined
1. Evaluate and approve the strategy for credit policy. by the GMS as described in the Board of Directors’ section
2. Monitor the implementation of the credit policy which is a part of the Corporate Governance Report in
to ensure Bank compliance to the credit policy this Annual Report. The membership structure of each
management and prevailing regulations. Committee, including the Committee’s Chairman, is in
3. Identify significant credit issues in the implementation accordance with the description in the respective Exco
of credit policies, especially with regards to the TOR.
FREQUENCY AND ATTENDANCE OF THE DIRECTORS IN THE EXECUTIVE COMMITTEE (EXCO)

MEETINGS IN 2020
Frequency and Number of Attendance
No Name
RMC ALCO* ITSC CPC
1 Tigor M. Siahaan 13 13 4 14
2 Lee Kai Kwong 12 13 4 14
3 John Simon 12 13 4 14
4 Vera Handajani 13 13 4 14
5 Lani Darmawan 13 11 3 13
6 Pandji P. Djajanegara 13 12 4 14
7 Fransiska Oei 13 1 4 14
8 Tjioe Mei Tjuen** 3 3 1 4
*)
Quorum on attendance and resolution of meetings were delegated to at least 2 (two) out of 3 (three) Board of Directors members as follows:
Chairman : President Director
Vice Chairman 1 : Strategy, Finance & SPAPM Director
Vice Chairman 2 : Treasury & Capital Market Director
**)
Effectively served as Director since 3 November 2020.
In addition to Exco, CIMB Niaga also has a Special Committee (called “Speco) that is formed by the respective Directors,
the formation of which is optional and on a need basis, including Operational Risk Committee (ORC), Executive Credit
Committee (ECC), Non-Performing Loan Credit Committee (NPLCC), Asset Quality Committee (AQC) and Customer
Experience Committee (CXC).
The Speco members comprise of 1 (one) Director in charge and one other related Director (if needed) and several
Executive Officers of the Bank who are appointed in the Speco meeting.
The assignment of duties and responsibilities of each Speco is provided for in the Terms of Reference (TOR) of the
respective Committees.

CORPORATE SECRETARY
CIMB Niaga has a Corporate Secretary who is responsible TERM OF OFFICE & DOMICILE
for maintaining the Bank’s image and protecting the She has served as Corporate Secretary since 26
Bank’s interests by establishing good communications September 2016 and is domiciled in Jakarta, Indonesia.
and relationships, and acting as liaison between the Bank
and its Shareholders as well as other Stakeholders. The CORPORATE SECRETARY PROFILE
Corporate Secretary must also ensure the Company’s
compliance with prevailing laws and regulations, FRANSISKA OEI
CORPORATE SECRETARY
regulations and laws, particularly those related to the
capital markets, as part of the Bank’s implementation of Fransiska Oei’s profile are
presented in the Section of
Good Corporate Governance (GCG).
Board of Directors’ Profiles in
this Annual Report.
LEGAL BASIS
The appointment of Fransiska Oei as the Corporate
Secretary of CIMB Niaga is based on Circular Resolution
of the Board of Directors of CIMB Niaga No. 001/SIR/
DIR/IX/2016 dated 21 September 2016 pursuant to OJK
Regulation No. 35/POJK.04/2014 of 8 December 2014 and
the Indonesia Stock Exchange (IDX) Regulation No. I-A of
20 January 2014 and its amendments. The appointment
has been reported to OJK on 23 September 2016 and
announced to the public through SPE OJK or IDXNet
system (e-reporting) on the same day.
ORGANIZATION STRUCTURE OF CORPORATE SECRETARY
Head of Corporate Secretary

Fransiska Oei
Corporate Affairs Community Development
DUTIES AND RESPONSIBILITIES 5. Organizing and attending the meetings of Board

The duties and responsibilities of the Corporate Secretary of Directors, the Board of Directors with the Board
are as follows: of Commissioners, Committees under the Board
1. Keeping abreast of developments and prevailing of Directors, and preparing and administering the
rules and regulations of the Capital Market. minutes of meetings.
2. Providing inputs to the Board of Directors and 6. Submitting reports related to Capital Market
Board of Commissioners of the Bank to comply with regulations, either regular or ad-hoc reports to OJK
regulations issued by OJK, BI, and Capital Market and IDX in a timely manner.
Regulators. 7. Disclosing information to the general public in
3. Organizing and documenting the General Meeting of accordance with prevailing rules and regulations.
Shareholders and Public Expose held by the Bank. 8. Improving and aligning all Corporate Governance
4. Organizing and attending meetings of the Board of implementation practices of the Bank in line with
Commissioners, the Board of Commissioners with the regulations of OJK and the ASEAN Corporate
the Board of Directors, Committees under the Board Governance Scorecard.
of Commissioners, and preparing and administering
the minutes of meetings.

9. Preparing documents and assisting in the Fit & c. OJK Regulation No. 17/POJK.04/2020 concerning
Proper Test process for candidates of the Board of Material Transactions and Change of Business
Commissioners and/or Board of Directors. Activity;
10. Organizing orientation programs for new Directors d. OJK Regulation No. 41/POJK.04/2020 concerning
and/or Commissioners to provide knowledge and the Implementation of the Electronic Public
understanding about the Bank. Offering of Shares, Bonds and/or Sukuk;
11. Administering all original Bank documents including e. OJK Regulation No. 42/POJK.04/2020 concerning
licenses, deeds, certificates, minutes of meetings, and Affiliated Transactions and Conflict of Interest
internal policies. Transactions;
12. Administering and distributing all incoming letters f. OJK Regulation No. 49/POJK.04/2020 concerning
addressed to the Bank for follow-up. the Rating of Bonds and/or Sukuk;
13. Acting as liaison officer between the Bank and g. OJK Circular Letter No. 3/SEOJK.04/2020
shareholders, investors, authorities and other concerning the Unusual Condition as the
stakeholders. Fluctuated Market Condition Significantly within
the Exercise of a Buyback of Shares Issued by the
DUTIES IMPLEMENTATION IN 2020 Issuers or Public Listed Company;
Throughout 2020, the Corporate Secretary has carried out h. Circular Letter of PT Bursa Efek Indonesia No. se-
her duties and responsibilities in line with the provisions 00003/BEI/05-2020 regarding the Implementation
set forth in the function of the Corporate Secretary, as Procedures for the Electronic Public Expose;
follows: i. Regulation of the Indonesian Investment
1. Organizing the 2020 Annual GMS on 9 April 2020 Coordinating Board No. 1 of 2020 concerning
(AGM)and the Extraordinary GMS on 25 September the Implementation Guidelines for the Electronic
2020 (EGM), complying with the COVID-19 protocols Integrated Business Licensing Services.
and OJK Regulations No. 16/POJK.04/2020. Details of 5. Collaborating with the Investor Relations Unit in
the GMS are presented in the Sub-section on GMS organizing the 2020 electronic Public Expose of CIMB
in the Corporate Governance Report Section in this Niaga on 18 November 2020, and quarterly analyst
Annual Report. meetings via conference call and video conferencing.
2. In addition to e-voting, the EGM has also provided an 6. Arranging and attending the Board of Commissioners
alternative for granting authorization electronically meeting once, meetings of the Board of
(e-proxy) through the eASY.KSEI application. Commissioners with or attended by the Board of
3. Constantly updating information in the menu “About Directors 4 (four) times, and arranging meetings of
Us” on the Bank’s website, especially with regards the Committees at Board of Commissioners level
to Corporate Governance and Investor Relations that comprised of: the Audit Committee meetings
to enhance the quality and accessibility on Bank 13 (thirteen) times, the Risk Oversight Committee
information disclosure for all stakeholders. meetings 12 (twelve) times, the Nomination and
4. Keeping abreast of developments in the Capital Remuneration Committee meetings 7 (seven) times
Market especially on prevailing rules and regulations and the Integrated Governance Committee meetings
of the Capital Market, among others ensuring Bank twice; and administering the minutes of meetings
compliance to new regulations that are issued by and attendance records thereof.
OJK, IDX and other relevant regulators of the Capital 7. Arranging and attending the Board of Directors
Market, and conveying the information thereof as meetings 39 (thirty-nine) times and the Board of
well as inputs to the Board of Directors and Board of Directors meetings with or attended by the Board
Commissioners, such as: of Commissioners 4 (four) times, and administering
a. OJK Regulation No. 15/POJK.04/2020 concerning the minutes of meetings and attendance record
the Plan and Implementation of the General thereof; and arranging and attending the meetings
Meeting of Shareholders of Public Listed of the Executive Committees (Exco) of the Board of
Company; Directors.
b. OJK Regulation No. 16/POJK.04/2020 concerning 8. Submitting regular reports and incidental reports to
the Implementation of the Electronic General the Regulator as required by prevailing regulations.
Meeting of Shareholders of Public Listed 9. Disclosing information transparently to the general
Company; public as required by prevailing regulations.

10. Administering, distributing and following up on letters 12. Organizing the orientation program for new
addressed to the Board of Directors and/or Board of members of the Board of Directors and Board of
Commissioners. In 2020, the Bank received a total of Commissioners.
13,665 (thirteen thousand six hundred and sixty-five)
letters that were addressed to the Board of Directors COMPETENCY DEVELOPMENT
and/or Board of Commissioners, some of which were Throughout 2020, the Bank’s Corporate Secretary
also received by OJK, Bank Indonesia, the Indonesia participated in a number of trainings, seminars,
Stock Exchange (IDX), Indonesian Central Securities workshops, and knowledge sharing as part of a
Depository (KSEI), the Association of Private National continuous competence enhancement to support her
Banks (PERBANAS), the State Court of the Republic of in exercising her duties as the Corporate Secretary, the
Indonesia, the National Police Force of the Republic full details of which are presented in the Section on the
of Indonesia, the Directorate General of Taxation and Company Profile in this Annual Report.
other.
11. Preparing documentation and assisting the INFORMATION DISCLOSURE IN 2020
process of Fit and Proper Test for 1 (one) candidate The Corporate Secretary has disseminated information
member of the Board of Directors and 2 (two) to the general public during 2020, through the mass
candidate members of the Board of Commissioner, media, IDX website and CIMB Niaga website in both
consist of 1 (one) candidate for Vice President Bahasa Indonesia and English, and submitted periodic or
Commissioner (Independent) and 1 (one) candidate incidental reports to IDX and OJK as follows:
for Commissioner.
REGULAR REPORTS
Reporting Number
No Type of Reports Addressee
Period of Reports
1 Monthly Report of Securities Holder Register of BNGA OJK & IDX Monthly 12
2 Consolidated Financial Statements of the Bank and its Subsidiaries OJK & IDX Quarterly 4
3 Annual Report OJK & IDX Yearly 1
4 Annual Rating Reports OJK & IDX Yearly 2
5 Report of Foreign Currency Debt OJK Monthly 12
6 Financial Statements of the Controlling Shareholders OJK Half-yearly 2
7 Annual Report of the Controlling Shareholders and its Subsidiaries OJK Yearly 1
8 Related Parties Detail List Report OJK Half-yearly 2
9 Report on the Execution of the Annual Public Expose IDX Yearly 1
10 Report on the Results of Shares Buyback* OJK Half-yearly 2
11 Report on the Information of Material Fact of the COVID-19 Impacts** IDX Monthly 4
The regular report must be submitted every 6 (six) months (at the latest on the 15 of the following month) during the period of the shares buyback for a maximum
*) th
period of 18 (eighteen) months since the date of the GMS Resolution approving the shares buyback.
**)
The regular report must be submitted once a month (at the latest on the 15th of the following month) for the end-of-month pursuant to IDX request. However, this only
applied in the period of May – August 2020 and has been declared over or no longer need to do periodic/regular reports by IDX.
INCIDENTAL REPORTS
Throughout 2020, the Bank carried out information disclosure in the form of incidental reports to Regulators (OJK and/
or IDX) of a total of 71 reports. Details of the Bank’s incidental reports can be seen on the website of CIMB Niaga through
the link https://investor.cimbniaga.co.id/newsroom.html.

INTERNAL AUDIT (IA)
The Internal Audit (IA) is responsible for carrying out The IA of CIMB Niaga has Internal Audit Charter as
internal audit function at CIMB Niaga. As the third line of the guideline for IA that consist of the main principles
defense, the main task of IA is to ensure that the Bank’s of the IA professional practices, vision and mission,
management and operations in accordance with the objectives, structure and position, authority, duties and
prevailing rules and regulations while also to support the responsibilities, function and scope of assignments,
interest and objective of the Bank. IA is also responsible independence and objectivity, professionalism,
to ensuring that internal control processes are adequate impartiality, rights and obligations of the IA Head (the
and carried out accordingly. Chief Audit Executive), and the IA’s code of ethics. The
Internal Audit Charter was last updated on 28 May 2019,
CIMB Niaga’s IA provides assurance, consulting and and was approved by the President Director and the
advisory that are independent and objective that can add Board of Commissioners.
value and improve the Bank’s operations. The IA helps the
Bank to achieve its objectives by evaluating and increasing The Internal Audit Charter defines the rules and
the effectiveness of governance, internal control process guidelines for the audit practices to ensure:
and risk management. Until end of 2020, IA continues to 1. The effectiveness, efficiency and adequacy of the
carry out required innovation in the banking industry and internal control system, risk management and
use of methodology and technology that can enhance governance on a continuous basis.
the effectiveness and efficiency of audit process. 2. The reliability, effectiveness and integrity of the
process and information management system
THE INTERNAL AUDIT CHARTER including the relevance, accuracy, completeness,
The Internal Audit Charter constitutes a compliance to: availability and security of data.
1. OJK Regulation No. 1/POJK.03/2019 on the 3. Compliance towards prevailing laws and regulations.
Implementation of the Function of Internal Audit 4. Quality of the organization performance.
in a Commercial Bank, OJK Regulation No. 56/ 5. Interaction with other governance group is carried
POJK.04/2015 on the Formation and Guidelines out accordingly.
of the Formulation of the Internal Audit Charter, 6. Critical financial information, managerial and
and OJK Regulation No. 18/POJK.03/2014 on the operational of the Bank is accurate, reliable, and
Implementation of the Integrated Governance of a timely.
Financial Conglomerate. 7. Resources are obtained economically, efficiently
2. OJK Circular Letter No. 21/SEOJK.03/2017 on the utilized and adequately protected.
Implementation of Risk Management in the use 8. Programs, plans and targets are well achieved.
of Information Technology by a Commercial Bank, 9. Quality and continuous improvements are inherent
OJK Circular Letter No. 35/SEOJK.03/2017 on the in the control process of CIMB Niaga.
Guidelines on Standard for the Internal Control 10. Opportunities to improve risk management,
System of a Commercial Bank, OJK Circular Letter profitability, and the reputation of CIMB Niaga are
No. 34/SEOJK.03/2016 on the Implementation of Risk identified and stated in the audit.
Management by a Commercial Bank, and OJK Circular
Letter No. 14/SEOJK.07/2014 on the Secrecy and APPOINTMENT AND DISMISSAL OF THE CHIEF
Security of Data and/or Private Information of Bank AUDIT EXECUTIVE
Customers. The Chief Audit Executive is appointed and dismissed by
3. As well as best practices pursuant to the standards of the President Director with the approval of the Board of
IPPF (International Professional Practice Framework) Commissioners and based on recommendation of the
and IIA (The Institute of InternaI Auditor). Audit Committee. The appointment of the Chief Audit
Executive is also reported to the OJK. In 2020, the Chief
Audit Executive of CIMB Niaga is Antonius Pramana
Gunadi, effective on 3 January 2017, based on the Decree
No. 024/HROB/HRS/XII/2016. The appointment has been
reported to the OJK based on Bank’s letter No. 008/DIR/
XII/2016 dated 19 December 2016.

POSITION OF IA IN THE ORGANIZATION

As an independent audit unit, IA reports directly to the President Director, and by matrix to the Board of Commissioners
through the Audit Committee pursuant to OJK Regulation No. 1/POJK.03/2019 dated 28 January 2019, on the
Implementation of the Function of Internal Audit in a Commercial Bank (PFAIB) and OJK Regulation No. 56/POJK.04/2015
dated 29 December 2015, on the Formation and Guidelines of the Formulation of the Internal Audit Charter. The position
of IA in the organization is shown in the following structure:
Board of
President
Commissioners through
Director
Audit Committee
Chief Audit
Executive
TB, Risk
Business Banking & Operation, Professional
Enablers IT Management,
Consumer Banking Syariah, S&D Practices
Treasury & Product
PROFILE & TRAINING OF THE CHIEF AUDIT EXECUTIVE
ANTONIUS PRAMANA GUNADI

CHIEF AUDIT EXECUTIVE
Age/Gender 46/Male
Domicile Jakarta
Legal Basis for Appointment Decree No. 024/HROB/HRS/XII/2016 dated 19 December 2016
Education
• Degree in Accounting from Tarumanagara University (1996)
Work Experiences Certification

• Audit Director at Citibank (2013-2016) • Certified Internal Auditor (CIA)
• Chief Audit Executive at Bank Internasional Indonesia (2010-2013) • Certified Anti Money Laundering Specialist (CAMS)
• Chief of IA at Barclays Indonesia (2009-2010) • Level 4 Certification of Risk Management
• Head of IA at ABN Amro Bank Indonesia (2005-2009)
• Auditor at Ernst & Young Firm(2003-2005) Organization Membership
• Auditor at KPMG Firm (1998-2002) • Bank Internal Auditors Association (IAIB) – Chairman for 2020-2023
• Auditor at the public accounting firm of Coopers & Lybrand • Bank Internal Auditors Association (IAIB) – Head of Membership and
(1996-1998) Organisation Section for 2017-2020
Training of the Chief Audit Executive (Including as Speaker) 2020

Training of the Chief Audit Executive is presented in the Company Profile Section of this Annual Report.
DUTIES AND RESPONSIBILTIES OF IA

The duties and responsibilities of CIMB Niaga’s IA based on the Internal Audit Charter are as follows:
1. Assist the duties of the President Director and Board of Commissioners in carrying out their supervision related to
Bank’s operations from planning, fieldwork and follow up audit findings.
2. Undertake the analysis and evaluation of the financial, accounting, operational and other activities through audit.
3. Identify all possibilities to improve and enhance efficiency in the use of resources and budget.

4. Provide recommendations for improvements and 16. Report to OJK, the results of external reviews that
objective information on all of the audited activities evaluate the working process of IA and its adherence
of management. to PPFAIB and possible improvements thereof.
5. Prepare and implement the annual audit plan based on 17. In the case where implementation of the Integrated
the risk-based audit methodology, comprehensively. Governance and CIMB Niaga’s role as the Main Entity
The annual audit plan and its budget allocation are that already established an IA, the duties of the
approved by the Board of Directors and Board of Integrated IA are carried out by the existing IA with
Commissioners by considering the recommendation the following responsibilities:
of the Audit Committee. a. Able to carry out audits on Financial Services
6. Carry out the audit activities and evaluate the Institutions (FSI) either individually, collectively, or
effectiveness and efficiency of the Bank’s financial, on the basis of the audit report of the FSI.
accounting, operational, human resources, marketing, b. Monitor and evaluate the execution of the
information technology and other activities. Integrated IA in the respective members of CIMB
7. Report periodically to the Board of Directors and Board Indonesia’s Financial Conglomerate, coordinate
of Commissioners through the Audit Committee on with the IAs of all members in the conglomerate in
the objective, authority, and responsibilities as well accordance with their functions, and compile the
as the performances of IA against its planning. The results of the Integrated IA from each member of
report shall also cover significant risk exposures and the financial conglomerate.
control issues. c. Prepare and present the report on the execution
8. Submit the semester report regarding implementation of duties and responsibilities of the Integrated
and audit result to OJK, which consist of summary of IA to the Director responsible for supervising
audit activities and significant audit findings, no later the FSI within the financial conglomerate, the
than one month after the period closed. Compliance Director of the Main Entity and the
9. Monitor the follow-up actions taken on the audit Board of Commissioners of the Main Entity.
findings and recommendations. All significant audit
findings will be classified as “open” until they are CODE OF ETHICS OF THE INTERNAL AUDITORS
resolved. The Chief Audit Executive and all personnel of the IA must
10. Inform the status of improvements taken on the adhere to the Code of Ethics and Conducts of CIMB Niaga
audit findings and recommendations to the Board of and the Code of Ethics of the Internal Auditors of CIMB
Directors, and the Board of Commissioners through Niaga in carrying out their duties and responsibilities.
the Audit Committee. The Code of Ethics of the Internal Auditors of CIMB Niaga
11. Inform the Anti-Fraud Management of any indication has been formulated pursuant to the code of ethics of
of frauds uncovered by the audit team. The Institute of Internal Auditor, as follow:
12. Prepare the success measurements and achievements
of the IA objectives. 1. Integrity
13. Prepare and retain adequate audit working papers as The integrity of the Internal Audit gives rise to the
in line with the required regulations. trust and thereby forms the foundation of confidence
14. Conduct and present the Quality Assurance and for the evaluation that it provides.
Improvement Programs (QAIP) covering all aspects
of IA activities. QAIP includes the evaluation over IA’s 2. Objectivity
adherence to the definition and standards of IA, and The Internal Audit demonstrates a high level of
evaluation on whether the auditors adhere to the professional objectivity in the collection, evaluation,
code of ethics. QAIP also evaluates the effectiveness and communication of the information that it imparts
and efficiency of the audit process and identifies on the audit process and execution. Internal Audit
potential improvements thereof. carries out a balanced assessment on all relevant
15. Report specifically to OJK, any findings by IA that can facts without being influenced by personal interests
significantly disrupt the business continuity of CIMB or those of others.
Niaga. The report should take no later than three
days following the finding.

3. Confidentiality
The Internal Audit assures the confidentiality of the information it obtains and is not authorized to divulge this
information without clear authority, except in the case where the sharing of information/data/documents to outside
parties are fully compatible with Bank policies.
4. Competency
The Internal Audit imparts knowledge, skills and experience that are required to provide the IA services.
Each year, all personnel of CIMB Niaga’s IA are refreshed of the code of ethics, and are required to sign a statement of
adherence to the code of ethics.
HUMAN RESOURCES AND PROFESSION CERTIFICATION

As at 31 December 2020, the number of employees at IA is 115 personnel including the Chief Audit Executive. IA strives
continuously to enhance the skills and competence of its auditors by enlisting them in various training programs,
seminars, workshops and certification training.
With the mandatory Work from Home (WFH) protocol due to the pandemic in 2020, IA had remained active in
undergoing with totaling 104 training programs equivalent to 9,346 hours. The following list describes some of those
training programs:
Name of Training/Workshop/Conference/Seminar Organizer Date and Place

Basic Custody Training - Core Custody & Opr Risk Asosiasi Bank Kustodian Indonesia 13 – 14 February 2020
Online
6-Class of Application on Detective Skills IIA Indonesia 6 – 15 May 2020
Online
Virtual Learning Series: Audit Interviewing Techniques Gartner 13 July 2020
Online
Robotic Innovation CIMB Niaga 31 August 2020
Online
Digital-Data-Design as Key Differentiator CIMB Niaga 30 September 2020
Online
Solving the Audit Skills Mismatch: Getting to Data Driven Insights Gartner 20 October 2020
2020 National IIA Indonesia Conference IIA Indonesia 2 – 3 December 2020
The enhancement of the auditor’s competence whether In addition to participating in training sessions, IA had also
in terms of audit skills or knowledge were also facilitated been required to obtain professional certifications for
through providing ease of access for auditors to participate internal audit such as Qualified Internal Auditor (QIA) and
in online training of international pedigree. IA had also the Risk Management Certification. Other certification
renewed its membership to the Corporate Executive programs that IA had enlisted in comprised of Certified
Board (CEB/Gartner), whereupon IA can have 24-hour Internal Auditor (CIA), Certified Risk Management
access to the CEB website to obtain the latest trends and Assurance (CRMA), Certified Anti Money Laundering
development in internal audit, risk management, and Specialist (CAMS), Certified Information Systems Auditor
benchmarking against best practices in internal audit, (CISA), and Certified Ethical Hacker (CEH).
including the use of CEB tools such as on-line training
and webinars. Throughout 2020, IA actively utilized the
CEB tools, as evidenced by 2,340 document views, 113
active web users, and 7 participations in virtual learning
series.

National Certification
61
36
30
Notes:
SMR Lv 1 : Risk Management Certification level 1
12
7
QIA : Qualified Internal Audit
SMR Lv 1 SMR Lv 2 SMR Lv 3 SMR Lv 4 QIA
International Certification
12
4
3 3 3
2 2 2
1 1 1 1 1 1 1
CISSP FRM CA CSA QRMP ERMCP CIF CRMA CRMP CPA CIA CRISC CAMS COBIT5 CISA CEH
Notes:
CISSP : Certified Information System Security Professional CRMP : Certified Risk Manajemen Professional
FRM : Financial Risk Managert CPA : Certified Public Accountan
CA : Chartered Accountant CIA : Certified Internal Auditor
CSA : Certified Securities Analyst CRISC : Certified in Risk and Information System Controls
QRMP : Qualified Risk Management Professional CAMS : Certified Anti Money Laundering Specialist
ERMCP : Enterprise Risk Management Certified Proffesional COBIT5 : Certified Objective for Information and Related Technology
CIF : Certified Investment Foundation CISA : Certified Information System Auditor
CRMA : Certified in Risk Manajemen Assurance CEH : Certified Ethical Hacker
PARTICIPATION IN PROFESSIONAL ORGANIZATION

IA enlisted its auditors in various professional organizations related to internal audit to broaden the perspectives and
professional competence of the auditors, and to share best practices among Internal audit colleagues. Some of these
professional organizations included the Institute of Internal Auditor (IIA) – Indonesian Chapter, Information Systems
Audit and Control Association (ISACA), the Indonesian Accountant Association (IAI), the Banking Internal Auditors
Association (IAIB). In addition, IA also acted as keynote speakers to various institutions and seminars on the audit
benchmarking practices carried out by the IA of CIMB Niaga.
Participation of IA of CIMB Niaga in external organizations
Name of Organization Position Period

- Chairman
- Head of Communication Section
Banking Internal Auditors Association (IAIB) 2020 - 2023
- Member of Communication Section
- Member of Training, Education and Certification Section
- Head of Membership and Organization 2017 - 2020

Participation of IA of CIMB Niaga as keynote speakers in external seminars/webinars by online
Topics Organizer Date

Data analytics from the perspective of internal auditing Swiss German University Online Lecture 2 April 2020
Remote auditing and keeping your audit effective during COVID-19 IAIB 30 April 2020
Data science IAIB 7 May 2020
From data to insight: Sharing experience generating insight from IIA 13 July 2020
data analytics and visual storytelling
Money laundering detection: sample cases for analytical scenarios IAIB 3 August 2020
Audit data analytic - Inspektorat Jenderal Kementerian 17 September 2020
Perindustrian
- Lembaga Pembiayaan Ekspor Indonesia 14 October 2020
(LPEI)
- OJK 18 November 2020
The effect of Pandemic on Changes in the Work Process and SKK Migas 3 November 2020
Function of Internal Audit
Next Generation Auditors IIA Malaysia 4 November 2020
Internal Audit Journey Bank Mandiri Audit Course 24 November 2020
2020 National IIA Indonesia Conference (as speaker – Agile &
IIA Indonesia 2 – 3 December 2020
Remote Auditing)
BSMR Refreshment GPS Learning 3 December 2020
AUDIT MANAGEMENT INFORMATION SYSTEM IA will continue to carryout improvements in its audit
IA has adopted the audit management information processes, methods, tools as well as the quality and skills
system of “TeamMate” since 2010. TeamMate is used to of its human resources in order to be a trusted business
monitor each phase of the audit process starting from partner that can provide added value to CIMB Niaga.
planning, fieldwork, reporting, and the monitoring of
follow up progress on the audit recommendation, and REPORT ON IA ACTIVITIES IN 2020
documentation of the audit working paper. The use of Throughout 2020, the IA of CIMB Niaga had completed
TeamMate is aimed at improving the effectiveness and 97% of its audit assignments based on the audit plan for
efficiency of IA’s operational activities. the year. The realization of the audits is as follows:
Audit Realization
To date, TeamMate is still used as the Audit Management (%)
Information System that continues to be developed to
support and meet the needs of IA activities. 8
5
AUDIT METHODOLOGY 8
The IA of CIMB Niaga applies the Risk Based Audit

methodology holistically in carrying out its audit works.
10
The risk-based audit starts from the annual audit
plan phase to the audit fieldwork. IA undertakes a
comprehensive evaluation on all risks faced by operating
units at Head Office, Area and Branches. With this 69
comprehensive risk evaluation method, IA can determine

the risk ranking and audit frequency of every business
RBA Thematic Integrated
unit/supporting unit of the Bank.
Consultative Continuous

IA continuously monitors the remediation taken up by 1. Fulfilling the need for the safety of auditors
Management on the audit recommendations. In 2020, Starting from 16 March 2020, IA had fully undertaken
IA provided a total of 1,118 audit recommendations, the Work from Home protocol for all auditors to
of which 324 audit recommendations had not been ensure the safety of the team. IA endeavored to find
yet due as of 31 December 2020. All of the due audit ways to carry out effective audits remotely while
recommendations have been followed up on time. postponing audits that require travelling and meeting
face-to-face with auditees, except for audits that were
Audit Recommendation
required by regulators. Currently, IA has adapted to
1,157 the virtual working environment, relying as much
as possible on the use of data and technology, and
the application of virtual meeting platforms. To
794
keep the productivity of auditors and protect data
confidentiality, every auditor has been equipped
Solved with the required infrastructures, such as computer
In Progress laptops, VPN (to ensure system accessibility for all
324
auditors), and virtual meetings through the Webex
application. IA has also succeeded in managing the
2019 2020 team remotely and virtually by monitoring their work
progress on a daily, weekly and monthly basis.
In addition to undertaking routine audit assignments, IA 2. Carrying Out the Audit Plan
also undertook the following activities: All physical visits to the auditees had been barred
1. Continuing with the roles of IA in providing since 16 March 2020. All audit processes were then
consultative review and advisory to business units taken up through remote viewing, data analytics,
and supporting units. telephone and video conference.
2. Undertaking internal reviews on quality assurance &
improvement program (QAIP) of CIMB Niaga’s IA. 3. Renewing the Audit Plan
3. Continuing to enhance the cooperation with all IA had reviewed its audit plan by evaluating the
business units and supporting units in enhancing risk associated with COVID-19. In response to the
the performance of CIMB Niaga through good pandemic, IA undertook a “Crash Program” to review
governance, risk management and internal control and prioritize audits in critical and high-risk areas
through the role of IA as a trusted business partner. three months in advance on a continuous basis during
4. Continuing with the reviews on the prevailing policies the running year, with the following considerations:
and procedures of IA in order to be constantly abreast - Risks that arose from COVID-19 and of split
of, and in line with, the current profession standards. operation.
- The potential of irregularities that may contravene
KEY INITIATIVES IN 2020 with prevailing rules and regulations stemming
In 2020, IA took several initiatives on a continuous basis. from COVID-19 related protocols.
These initiatives were aimed at supporting the IA in - Reviewing whether the risks from “business as
achieving its objective of becoming World Class Internal usual” are still relevant or even critical in the current
Audit and a Trusted Business Partner. condition.
Amid the COVID-19 pandemic in 2020, CAE and Audit Throughout the COVID-19 pandemic, IA had reviewed
Management had considered various options that would its quarterly audit plans to ensure that they remain
enable the continuity of audits. IA focused on finding relevant with the development of the Bank amid
alternatives to the conventional method of face-to-face COVID-19. This periodical reviews will be submitted
auditing, replacing it with remote auditing. To this end, to the Audit Committee and Management.
IA made several adjustments to adapt with the prevailing
conditions, with a focus on the followings:

4. Monitoring the Impact on the Bank’s Business No. Type of Alert Parameter 2019 Parameter 2020
Operations 1 CIF 17 17
IA continued to discuss with Management as
2 Deposit 81 96
part of its “Business Monitoring” on the impact of
3 Credit & Collateral 81 109
COVID-19. The results of business monitoring are
4 Credit Card 16 18
used as feedbacks on the evaluation of the audit plan
adjustments and to determine the focus on risks that 5 Forex 2 -*
are the main concerns for the audit fieldwork. 6 Fraud Detection 34 31
Total 231 271
Several key initiatives by IA in 2020 included the *
In re-development phase
followings:
1. Development of Data Analytics Throughout 2020, IA had informed Management on

IA continued to improve and develop Data Analytics a number of operational lapses that had an effect
in line with so-called industry 4.0 revolution that on profitability as well as findings that prevented
is dominated by the rapid development of digital potential losses from lapses that had been identified
equipment, and the propensity for the individual early by IA.
evolvement to become “3D (Digital, Data, Disruption)
Ready.” To achieve this, Data Analytics continued to 2. Visualisation
enhance the knowledge and skills of the auditors IA continued to develop its visualisation on the
through several training programs such as SQL results of data analytics, with the aim of presenting
Server, ACL, Tableu, Phyton/R, and Data Science these results to the stakeholders with more clarity,
& Machine Learning. Not only that, Management structured and easy to understand format. The data
also supported the enhancement of Data Analytics presentation could be in the form of diagrams, maps,
through investments in both Hardwares and charts or other infographics. This data visualisation
Softwares. Also in 2020, the Data Analytics team could present the relations or trends between existing
provided the opportunity for other members of IA to variables/parameters. As such, visualisation can help
familiarize themselves with Data Analytics through Management make effective decisions on issues that
the Data Analytics attachment program. need expedient follow-ups. This visualization uses the
Tableau dashboard. In 2020, improvements had been
The development by Data Analytics is also done made on the interface and menu arrangement on IA’s
through periodical assessments on existing alert/ Tableau Dashboard within the Tableau server.
scenarios in order to more effectively detect sooner
any irregularities or indication of irregularities that 3. Thematic Audit
could arise and take remedial actions. Improvements IA continued to carry out audit using Thematic
and enhancements on Data Analytics are also carried approach, focusing on certain areas/processes/
out in line with the development of the IA organization products. Through this Thematic Audit, auditors
as well as the growth of the Bank’s business and can identify the root of the problem and provide
operations. From these assessments, the number comprehensive and effective recommendations that
of parameters that resulted from the Data Analytics can be implemented bankwide.
increased by 17% from 231 parameters in 2019 to
271 parameters in 2020 as follows:

547 hours
4. Guest Auditor Program
In 2020, IA had included two guest auditors in this 433 hours
program. The aim of the program is to facilitate

the sharing of best practises, providing greater
understanding to the guest auditors on the audit
process and control framework, which could
eventually be used and implemented in the respective
business unit/supporting unit and to provide the guest
184 307
auditors an understanding of the internal control meetings meetings
framework, risk identification and control definition, 2019 2020

as well as an understanding of the importance of the
auditor’s work in helping Management to carry out
the strategy and achieving the objectives of the Bank. 6. Combine Assurance Audit
In 2020, IA carried out the combined assurance with
5. Business Monitoring other assurance functions, such as the Compliance
Business Monitoring constitutes a non-audit activity and Risk Management team with the aim that the
by IA by engaging in continuous communication with various assurance functions can work together to
Management. The activity is carried out routinely and schedule their audits collectively so as not to disrupt
not involving audit. Business Monitoring benefits the operations of the auditees with repetitive audits,
both sides, whether IA or Management, among other while still ensuring that the functions of assurances
things as follows: can proceed effectively and efficiently. In 2020, IA
• Fostering strong working relations with business had carried out several assignments on combined
unit/supporting unit assurances with the teams of Compliance and RCU.
• Having a greater understanding on the activities
and operations of the business units/supporting 7. Attachment Program
units The Attachment Program is where an auditor is
• Obtaining latest information on changes in attached to an on the job assignment in a business
business strategy, process, risk and controls unit/supporting unit/operations with the aim of
• A medium for sharing key audit issues and equipping the auditor with a greater understanding
changes in audit methods of the business process including the risk and control
• A medium for networking between auditor and elements. Throughout 2020, IA had enlisted 10
Head of business/support unit. auditors in this program.
In 2020, IA undertook 307 meetings with Management. The benefits of the attachment program are as
follows:
• Increasing the auditor’s understanding of the
business process as well as risk and control
elements of the unit in question.
• Increasing the auditor’s understanding of the role
of a certain job including the challenges faced by
the job.
• Providing feedbacks to Management on how to
improve controls, mitigation and increase work
and business efficiency and effectiveness.

Re-Open Rate
8. Demerit Audit Rating (%)
Since 2017, IA has developed the framework for 5
Demerit from the results of audit implemented on
the evaluation of Management performance. The
use of Demerit is aimed at increasing the awareness 3 3
of all parties at CIMB Niaga to collectively improve

the Bank’s internal controls in order to achieve the
Bank’s objectives. The Demerit Audit is applied in
two parameters, namely the Audit Rating and Late 0
Remediation Rate.
2017 2018 2019 2020
Since the implementation of Demerit Audit, the ratio

of Late Remediation has improved, with a decrease
from 15% (in 2016) to 0.5% (in 2017), 0.1% (in 2018) 10. Competency Framework and Learning Journey
and 0% in both 2019 and 2020. This decreasing As part of the commitment to enhance the quality
indicate the significant improvements being made in of auditors, IA undertook a comprehensive review
the control environment and the timely remediation on the existing competency model in order to align
of the audit recommendation. it with the evolvement of the organization and
profession, including the core competency of CIMB
Late Remediation
(%)
Niaga, while also designing the learning journey for
14 auditors. In this digital era, IA also gives its support to
all of its members to acquire the Digital-Data-Design
(3D) Talent. With its competency model and learning
journey, IA can devise a more structured and targeted
development programs for auditors, improving their
quality and accountability of their assignments.
0.5 0.1 0.0 0.0

EVALUATION OF IA PERFORMANCE
The evaluation on IA performance is carried out through
2016 2017 2018 2019 2020 the dissemination of questionnaires to auditees following
the audit process and evaluation by the Audit Committee.
These questionnaires cover several evaluation aspects,
9. High Risk Validation including that of the audit management, audit execution
IA has also continued with its high-risk validation, in and presentation of the audit findings. As independent
order to ensure that all of the audit recommendations unit, the evaluation of the IA performance was
have been remediated on a timely and continuous assessed directly by the Audit Committee which covers
basis, so as not to incur repeat audit findings in several aspects, namely the quality of the audit report,
the future. If in the validation process a repeated presentation skills and performance of IA.
finding does occur, the recommendation will be
“Re-open” and Management has to follow through The scoring for the evaluation on IA performance by
again on the “Re-open” recommendation. From the the Audit Committee ranges from 1 (very poor) to
results of validation undertaken in 2020, the ratio of 5 (exceptional). The score of the evaluation by the
sustainable audit remediation indicated an improving Audit Committee on IA performance in 2020 was 4.46,
trend, wherein the 2020 ratio was 0%, down from 3% increasing from that of the previous year of 4.09, and
in both 2018 and 2019. indicating the improved performance of IA over that of
the previous year.
In addition to this, in 2020, PT Deloitte Konsultan

Indonesia undertook a Quality Assurance Review on
the activities of CIMB Niaga’s IA, with result “Generally
Conform” with Bank Indonesia Regulation No. 1/6/

PBI/1999, OJK Regulation No. 1/POJK.03/2019, OJK 6. Undertaking the mandatory pre and post
Regulation No. 38/POJK.03/2016 including OJK Circular implementation review on the E-Banking Project for
Letter No. 21/SEOJK.03/2017 and IPPF. both new and upgrading projects.
7. Reviewing data and technology including the reviews
IA will continue to carry out improvements in its audit on information security, cyber security, IT governance
processes, methods, tools as well as the quality and skills and data governance.
of its human resources in order to be a trusted business 8. Continuing the attachment program initiative.
partner that can provide added value to CIMB Niaga. 9. Continuing the guest auditor program initiative.
10. Continuing combined assurance initiative.
WORK PLAN 2021 11. Planning for the agile audit concept in future audits.
Going forward, IA will continue to improve the auditors’ 12. Preparing for the plan to use machine learning and
competence, develop methodologies and technology, robotic process automation in several years to come.
and optimize the audit tools and their uses in order to 13. Continuing with business monitoring in order for
execute the audit plan. IA’s work plan for 2021 includes IA to be constantly abreast of developments and
the following strategic priorities: changes in business, processes, and issues faced by
1. Optimising data analytics and visualisation to support management as well as aligning the focus of audits
all of the audit processes as well continuous auditing. with those changes.
2. Responding to the effects of the COVID-19 pandemic, 14. Continuing with the roles of IA in providing
audit will focus on credit quality, recovery and consultative review and advisory to business units
restructuring process, quality of operational activities, and supporting units.
and business continuity plan. 15. Continuing to enhance the cooperation with all
3. Focusing on organization resilience of all main business units and supporting units in enhancing
business lines of CIMB Niaga. the performance of CIMB Niaga through good
4. Continuing with the implementation of layered audits governance, risk management and internal control
on CIMB Niaga branch units, in both data analytics through the role of IA as a Business Partner.
and area audits, thematic audits for several processes 16. Continuing with the reviews on the prevailing policies
and products whether in credit or operations, such and procedures of IA in order to be constantly abreast
that the scope of audits on branch units will be of, and in line with, the current profession standards.
enhanced. 17. Enhancing the competence of auditors continuously
5. Ensuring that the management and operations of to provide added value to business units as well as
CIMB Niaga proceeds in accordance with prevailing supporting units and support all members of IA to
laws and regulations, such as reviewing the practices become 3D Talent.
of AML (Anti Money Laundering) and CFT (Counter-
Terrorist Financing) in all business lines and
supporting units and auditing on the quality of data
used in regulatory reporting.

COMPLIANCE UNIT
CIMB Niaga has a Director in charge of the compliance function, and has established an independent Compliance
Unit (CU) directly under the Compliance Director. The Head of Compliance Management is in charge of CIMB Niaga’s
CU, which carries out the compliance function as a key element toward improving the implementation of Corporate
Governance.
The role and function of the Compliance Unit at the Bank represent one of the preventive measures taken to mitigate the
compliance risk in the Bank’s business activities. The compliance function ensures that all policies, provisions, systems
and procedures, as well as activites of the Bank, are in accordance with the provisions of the Otoritas Jasa Keuangan
(OJK) and the prevailing laws and regulations.
LEGAL BASIS
The establishment of the Bank’s CU refers to the respective POJK and SEOJK on Implementation of Governance in
Commercial Banks, Integrated Governance, Assessment of Bank’ Soundness, and Implementation of Compliance
Function in Commercial Banks.
APPOINTMENT AND DISMISSAL OF HEAD OF COMPLIANCE MANAGEMENT

The Head of Compliance Management is appointed and dismissed based on a decision of the Board of Directors, duly
reported to the OJK.
PROFILE & TRAINING OF THE HEAD OF COMPLIANCE MANAGEMENT
LISTON SIAHAAN
HEAD OF COMPLIANCE MANAGEMENT
Age/Gender 52/Male
Domicile Jakarta
Legal Basis for Appointment SK No.253/HRPA/HRS/XI/2013 dated 1 November 2013
Education
• Bachelor degree from Institut Teknologi Bandung (1992)
• Master degree in Management from Prasetya Mulya Business School (1996)

• Head of Compliance Management, CIMB Niaga • Level 2 Compliance Certification
• Risk Management Group Head at Bank Niaga • Level 4 Risk Management Certification (BSMR)
• Indonesian Banking Restructuring Agency (BPPN)
• PT Pefindo (Credit Rating Agency)
Training of Head of Compliance in 2020
No. Training/Workshop/Conference/Seminar Organizer Date and Place

10 July 2020
1 Workshop Foreign Currency Exchange (LLD) & Forex Transactions CIMB Niaga
online
19 May 2020
2 Holistic Leadership Immersion Webinar Batch II OJK
online
11 August 2020
3 Material Transaction and Affiliated Transaction OJK
online
Socialization and Dissemination of Regulations and Policies for Industry Players in 8 September 2020
4 OJK-IDX
Indonesia Capital Market online
Invitation to a Hearing on RPOJK on Supervision of Market Conduct in the 1 October 2020
5 OJK
Financial Services Sector (RPOJK MC) online
RCU Leadership Training 17 November 2020
6 CIMB Niaga
Tema : Working Virtually online
16-18 November 2020
7 GRC Summit 2020 MetricStream
online

COMPLIANCE PRINCIPLE DUTIES AND RESPONSIBILITIES OF THE

OJK Regulation No.46/POJK.03/2017 dated 12 July 2017 COMPLIANCE UNIT
concerning Implementation of Compliance Function 1. Establishing compliance policies and procedures and
for Commercial Banks, explained the need for the performing periodic reviews or updates.
implementation of the compliance function for the 2. Establishing a compliance program to support
Bank, given the increasingly complex business activities the development of a Compliance Culture in all of
of banks in line with the development of information the Bank’s business activities at every level of the
technology, globalization and the integration of financial organization.
markets today. The Compliance Function serves as one of 3. Identifying, measuring, monitoring and controlling the
the key factors in the implementation of Governance and Compliance Risk in accordance with the requirements
CIMB Niaga is committed to complying with the laws and for implementation of Risk Management in
regulations, through its compliance risk management on Commercial Banks and Sharia Business Units (UUS).
the basis of the following compliance principles: 4. Assessing and evaluating the effectiveness, adequacy
1. Compliance starts at the top; and conformity of CIMB Niaga’s policies, guidelines,
2. Compliance is the responsibility of all parties; systems and procedures based on the regulatory
3. Compliance is conducted to comply with laws and requirements. In addition, the Compliance Unit also
regulations; reviews compliance aspects in the other working
4. Compliance is implemented with competence and units.
integrity in accordance with its responsibility; 5. Conducting review and providing recommendations
5. Oriented to stakeholders; for updating and refining current policies, guidelines,
6. Dedicated to the Bank; and systems and procedures of the Bank in accordance
7. Oriented to problem solving. with the requirements from authorities, including
Sharia Principles for the UUS.
COMPLIANCE FUNCTION AT THE BANK 6. Acting as the Bank’s liaison officer when dealing
The Compliance function at the Bank is designed and with the regulators, particularly regarding the
implemented towards: implementation of compliance and regulatory audit.
1. Realizing the implementation of compliance culture 7. Reporting the implementation of CIMB Niaga’s
at all levels of the Bank’s organization and business compliance function and compliance status to the
activities; Board of Directors and Board of Commissioners
2. Managing the compliance risks faced by the Bank; through the Compliance Director.
3. Ensuring that the policies, provisions, systems and 8. Providing input/clarification regarding questions
procedures as well as activities carried out by the Bank from business units related to the implementation of
are in accordance with the provisions of the OJK as well as BI/OJK regulations
prevailing laws and legislation, including Sharia Principles 9. Preparing training/socialization programs regarding
for Sharia Banks and Sharia Business Units; and external regulations for business/working units in the
4. Ensuring the Bank’s compliance with commitments Bank.
made by the Bank to the OJK and/or other authorized 10. Perform other tasks related to the Compliance
supervisory authorities. Function.
ORGANIZATIONAL STRUCTURE OF COMPLIANCE UNIT
Compliance, Corporate
Affairs & Legal Director
Head of Compliance
Management
Credit Compliance Non Credit Compliance Quality

Advisory Compliance Advisory Assurance

HUMAN RESOURCES AND PROFESSIONAL • Check the compliance implementation in the

CERTIFICATIONS business/work units.
As of 31 December 2020, the Compliance Unit has • Monitoring the follow-up of the Bank’s
29 personnel, including the Head of Compliance commitment to the authorities and monitoring
Management. All personnel at the Compliance Unit have the compliance status at the Bank.
been equipped with Compliance and Risk Management • Monitoring of compliance implementation
certifications. through the Regulatory Commitment (ReCoM)
monitoring application and its further
Personnel at the Compliance Unit also attended various development.
training sessions and seminars during 2020 in support
of its role and function, including: Driving the Fourth 4. Programs and Activities in Compliance Status Report
Industrial Revolution, Leading in Digital Age, Fintech • Measurement of compliance risk and compliance
Foundation, Digital-Data-Design as Key Differentiator, risk management analysis in the Bank Soundness
Sustainability Finance Procedure, Robotic Innovation, Report.
RCU Leadership & Forum, The Cooler Earth Sustainability • Periodic reports of compliance status to the
Summit 2020. Board of Directors, Board of Commissioners and
authorized authorities.
Apart from personnel in the CU itself, according to the
compliance framework, the Bank also has employees 5. Activities in Integrated Compliance
whose jobs are directly related to compliance risk • Reporting Integrated Compliance over the
management in the work unit. This work unit is on the implementation of compliance in the CIMB
first line (work unit) and is called the Risk Control Unit Indonesia Financial Conglomerate periodically
(RCU). Up to the present time, 6 employees of the Risk to the Board of Directors and Board of
Control Unit (RCU) have participated and awarded the Commissioners of the Bank as the Main Entity.
Compliance certification. • Perform alignment of the framework for
compliance with the Compliance Unit(s) of
COMPLIANCE UNIT WORK PLAN FOR 2020 Financial Services Institution (FSI) member of CIMB
1. Programs and Activities in the Socialization of Indonesia Financial Conglomerate, to support the
Provisions creation of a culture of compliance and minimize
• Update the database of banking regulations and compliance risk exposure in each FSI.
other related guidelines.
• Socialize and organize training on regulations and 6. KPI related to Compliance in each Work Unit
compliance aspect to employees of the Bank. Prepare the Directorate KPI results related to
Compliance and the KPI for Head of RCU in 2020.
2. Programs and Activities in Compliance Testing
• Compliance testing on new product/activity plans COMPLIANCE INDICATORS 2020
and new policies/procedures and its amendments. 1. Minimum Capital Adequacy Ratio/CAR (for Credit
• Advisory, including recommendation/opinion Risk, Market Risk and Operational Risk) was 21.24%,
from the Compliance Unit in response to requests meeting the regulatory minimum limit.
for advice from other business/work units related 2. There was no breach/violation for Legal Lending Limit
to compliance aspects. (LLL) requirements.
3. Net Non-Performing Loan (NPL) was 1.42%, meeting
3. Programs and Activities in Monitoring Compliance the regulatory maximum limit of 5%.
Implementation 4. Minimum Rupiah Statutory Reserve for Daily and
• Improvements to the RCU framework and RCU Daily + Average positions were 2.36% and 3.16%,
competency through discussion and training. respectively, meeting the regulatory minimum limit
• The RCU to submit results of RCSA self- of 3% and 6%.
assessment to CU, and CU to review such RCSA
self-assessment reports.

5. Minimum Foreign Exchange Statutory Reserve for • Regulatory Audit Follow Up Module to monitor
Daily and Daily + Average positions were 4.05% and compliance with regulatory audit commitments.
4.05%, respectively, meeting the regulatory minimum • Regulatory Data Request Module to monitor
limit of 3% and 8%. compliance with requests from regulators.
6. Liquidity Coverage Ratio (LCR) was 245.65%, meeting • New Regulation Follow Up Module and Regulation
the regulatory minimum limit of 100%. Update Memo Module to monitor follow-up
7. Net Stable Funding Ratio (NSFR) was 119.04%, actions concerning new regulations.
meeting the regulatory minimum limit of 100%. • Periodic Off-Line Report Module to monitor the
8. Net Open Position (on and off-balance sheet) was completion of off-line periodic reports.
1.77%, meeting the regulatory maximum limit of 20%. • Frequently Asked Question (FAQ) Module,
9. The commitment to follow-up the regulator’s audit a database of information to questions on
results was completed as scheduled. regulations.
• Policy Review Module, to monitor the compliance
IMPLEMENTATION OF DUTIES OF THE testing on policies/procedures.
COMPLIANCE UNIT IN 2020 • Unit Self-Testing/RCSA Module, a further
a. Compliance Awareness Program development of the ReCoM to automate the RCSA
The CU conducted regulations socialization through self-assessment process by work units.
Compliance News e-mail blast, and also administered
and updated the banking regulation database in d. Compliance Monitoring
the Bank’s internal web-based system, namely The CU monitored the implementation of compliance
the e-Manual. Socialization was conducted using in business units through the RCSA (Risk Control
electronic-based communication media and self- Self- Assessment) performed by each RCU/DCORO
learning applications, such as: (Risk Control Unit/Designated Compliance &
• RCU Forum Operational Risk Officer) as well as the results from
• Bi-Weekly Meeting Compliance Management other independent units (including the Internal Audit
• Socialization of new regulations, and workshops unit and Risk Management unit) as well as results of
and refresher courses on compliance aspects examination by regulators. In addition, CU conducted
• Compliance certification a Compliance Management Services Survey to
• Formulating the compliance learning module internal and external parties.
accessible through the Learning on the Go (LoG)
application e. Compliance Review
The Compliance function conducts compliance
b. Compliance Testing and Compliance Advisory reviews (unit review, periodic review and thematic
The CU conducted compliance testing on new review) in the work unit. The review is conducted to
internal policies and new products and/or activities verify the work unit’s self-assessment process for RCSA
in order to comply with the regulatory requirements. and assess whether there are compliance issues in
CU also provided opinion/advice to business units the work unit. In addition, CU conducts a compliance
regarding the prudential principles and compliance review on the implementation of the RCSA self-
with external regulations. assessment in work units. Throughout 2020, CU has
conducted a compliance review of 29 work units.
c. Implementation and Development of ReCoM System
Starting from 2019, CU has developed the ReCoM f. Supervision by Regulators
(Regulatory Commitment Monitoring) application, The CU coordinates all regulatory audit activities at
which aims to record and monitor fulfillment of CIMB Niaga. Throughout 2020, CU has coordinated
commitments and follow-up reporting to regulators the audit activities of OJK Conventional Supervisor
for all work units (bank-wide), while also continually and OJK Capital Market. Based on the Bank’s
developing and improving its function as needed. monitoring, the Bank’s commitment to the results of
Currently, the ReCoM application consists of the the regulatory audit that is due has been followed up
following modules. by the Bank according to the fulfillment time target,
and there is no commitment to follow-up audit with
“overdue” status to the regulator.

g. Compliance Report
CU submits compliance reports and Bank compliance activities reports to authorized internal parties and regulators
in accordance with the provisions.
Compliance Activity 2020

Socialization of New Regulations 155 regulations
Training 5,333 participants in various training/socialization sessions.
Compliance Testing 476 new policies/procedures and new product/activity (including PIR activity changes) were tested.
COMPLIANCE UNIT WORK PLAN FOR 2021 c. CU to review such RCSA self-assessment reports,
1. Programs and Activities in the Dissemination of including to check the compliance implementation
Provisions at work units.
a. Update the database of banking regulations and d. Monitoring the follow-up of the Bank’s
other related provisions. commitment to the authorities
b. Socialization and training on external regulations, e. Monitoring the compliance status of member
conducted through online meetings or via other entities in the CIMB Niaga Indonesia Financial
electronic communication media. Conglomerate (KKCI).
f. Monitoring of compliance implementation
2. Training programs for RCU and DCORO through the Regulatory Commitment Monitoring
CU will collaborate closely with RCU to improve the (ReCoM) application, and further development of
competences of RCU and monitor the implementation ReCoM to automate processes in the compliance
of compliance in the work units. This will be conducted framework.
through regular RCU Forum.
5. Programs and Activities in Compliance Reporting and
3. Programs and Activities in Compliance Testing KPI
a. Compliance testing on plans for new products/ a. Self-assessment of compliance risk profile for the
activities and new policies/procedures, including Bank Soundness Report.
changes thereto. b. Periodic Compliance Status reports to the Board
b. Providing recommendation/opinion by the of Directors, the Board of Commissioners, and
Compliance Unit on request for advice by other OJK.
work units related to the fulfillment of compliance c. Formulation of KPIs related to compliance aspects
aspects. for Directorate and Work Unit, as well as KPIs for
the RCU.
4. Programs and Activities in Monitoring Compliance
Implementation 6. Activities in Integrated Compliance Function
a. Improvement of RCU roles, function and a. Perform periodic Integrated Compliance
competences in the framework, through reporting on the implementation of compliance
discussion/forum and training. in KKCI to the Board of Directors and Board of
b. The RCU to submit results of RCSA self-assessment Commissioners of the Bank as the Main Entity.
to CU b. Aligning the compliance framework with the
Compliance functions of KKCI member entities.

ANTI MONEY LAUNDERING AND

COUNTER-TERRORIST FINANCING (AML & CFT)
As a Bank with a network that extends broadly throughout CIMB Niaga’s undertaking of the AML & CFT programs
Indonesia and a diverse range of products and services, is pursuant to prevailing laws and regulations including
CIMB Niaga could be vulnerable to crimes involving the Laws on the Criminal Acts of Money Laundering No.
money laundering and terrorism funding. As such, the 8 of 2010, Laws on the Prevention and Eradication of the
Bank is committed to mitigating this risk and undertake Criminal Acts of Terrorist Financing No. 9 of 2013, OJK
various prevention measures, by implementing the Anti Regulation No. 12/POJK.01/2017 on the Implementation
Money Laundering and Counter-Terrorist Financing of AML & CFT that has been amended OJK Regulation No.
(AML & CFT) programs effectively. These efforts are 23/POJK.01/2019, SEOJK No. 32/SEOJK.03/2017 on the
carried out through the use of risk-based approach in its implementation of the AML/CFT programs in the financial
implementation, in order to measure the AML & CFT risks services sector and OJK Circular No. 47/SEOJK.04/2017
at the customer level (customer risk rating) as well as that on the Implementation of Anti Money Laundering and
of bankwide (Bank AML risk rating). Terrorist Financing Prevention in the Capital Markets
Sector, as well as pursuant to best international practices.
In implementing the AML & CFT programs, CIMB Niaga
has formed the AML Unit as a special working unit that CIMB Niaga also commits fully in fulfilling the requirements
reports directly to the Compliance in carrying out the of other OJK regulations and circular letters pertaining
AML & CFT programs at the Bank. to the Implementation of the AML-CFT Programs and
Guidelines on the immediate Blocking on the Customers
AML & CFT POLICIES Funds in the Financial Services Sector whose identities
The implementation of the AML & CFT programs are listed in the List of Suspected Terrorists and Terrorist
constitutes the commitments of the Board of Directors Organizations as well as the Register of the Proliferation
and Board of Commissioners of CIMB Niaga to instill a of Weapons of Mass Destruction.
Risk Culture at all levels of the Bank’s organization, and
to prevent the use of Bank’s products, services and PROCEDURE FOR THE APPOINTMENT AND
e-channel outlets for purposes of money laundering and DISMISSAL OF THE HEAD OF AML
terrorism funding. The Head of AML is appointed and dismissed based on
the decision of the Board of Directors and is reported to
OJK.
PROFILE & TRAINING OF THE HEAD OF AML
ENTIN ROSTINI
HEAD OF ANTI MONEY LAUNDERING (AML)
Domicile Jakarta
Legal Basis for Appointment Decree No. 00083/HROB/HR/III/2017
Education
• Degree in Economic, Accountancy Major, from Padjadjaran University, Bandung (1988)
• Magister of Management from Gadjah Mada University, Yogyakarta (2005)
• Senior Vice President – AML Head at Bank Danamon Indonesia (2009 – 2016) • Level 4 Risk Management Certification
• Vice President – Head of Compliance at China Trust Bank Indonesia (2009 – • Level 2 Compliance Certification
2009)
• Assistant Vice President, Head of International Banking & Operation Organization Membership
Compliance at BII (2007 – 2009) Communication Forum of Bank Compliance Director (FKDKP) and
• Assistant Vice President, Head of BII Pension Fund at BII (2005- 2009) National Bank Association (PERBANAS)since 2009.
• Assistant Vice President, Head of Domestic Payment Center Central
Processing Center at BII (2003 – 2006)
• Senior Manager, Head of Treasury and Capital Market at BII (1998 – 2003)
• Internal Audit at BII (1989 – 1998)

Training of Head of AML in 2020
No Training/Workshop/Conference/Seminar Organizer Time and Place

1 Digital & Holistic Leadership Immersion - Webinar OJK 8-9 April 2020
Online
2 Webinar GRC Integrated in Digital Era: Opportunities & OJK 28 July 2020
Challenges Online
3 US Sanctions and Export Controls Compliance for Non-US Banks Steptoe 12 August 2020
Online
4 Vulnerability of Money Laundering and Terrorist Financing as Communication Forum of 19 August 2020
Impacted by the COVID-19 Crisis Banking Director of Compliance Online
(FKDKP)
5 Webinar/Workshop on the Understanding of Regulations FKDKP 22 September 2020
Related to the Reporting of the Personal Savings Guarantee Online
Data (Single Customer View)-PLPS No.05 of 2019
6 FGD NRA Level of Threat of ML/TF/PF in 2020 Center for Reporting and 23 October 2020
Analysis of Financial Transaction Online
(PPATK)
7 Banking Readiness for Regional Election 2020 FKDKP 6 November 2020
Online
8 Wells Fargo Webinar on Current Risks to Business Emails and Wells Fargo 10 November 2020
Updates from PPATK and OJK Online
9 The Role of PJK in Preventing TPPU Through In-depth OJK 12 November 2020
Understanding of Corruption as the Source of TPPU Crime Act Online
of High Risk
10 RCU Leadership Training CIMB Niaga 17 November 2020
Online
11 Dissemination of Virtual Financial Integrity Rating on Money PPATK 25 - 26 November 2020
Laundering and Terrorist Financing (FIR on ML/TF) to Online
Commercial Banks in 2020
12 Dissemination of Policies on the Regulation on Capitalizing on PPATK 10 December 2020
the Application of Politically Exposed Person Online
ORGANIZATION STRUCTURE OF AML & CFT AML UNIT
Affairs & Legal Director
Head of AML
Consultant
AML Business AML System & AML Testing &

AML Analyst
Alignment & Awareness Reporting Quality Assurance
DUTIES AND RESPONSIBILITIES OF THE AML UNIT

The AML Unit has the following duties and responsibilities:
1. Planand develop the strategy for the AML & CFT programs implementation to identify the AML & CFT risks, measure
and manage these risks for their mitigation.
2. Formulate the AML & CFT Policies and Procedures of the Bank’s in line with the prevailing laws and regulations, as
well as best practices that will guide employees in carrying out the business and operations of the bank.

3. Evaluate and maintain against the possibility that IMPLEMENTATION OF AML & CFT PROGRAMS
the Bank’s policies and procedures on products, IN 2020
services and delivery channels being used as a In implementing the AML & CFT programs, the Bank has
medium for money laundering, terrorism funding, set up 3 (three) lines of defense, as follows:
and proliferation.
4. Prepare the information system that supports the 1. First Line of Defense
implementation of AML & CFT programs in identifying The first line of defense is carried out by the Business
customers, classifying customers according to their Unit/Branch Office that operates the Bank’s daily
risk profiles, monitoring transaction and ensuring the business activities as the front-liners. In every
result of screening against the AML watch-list. Business Unit/Branch Office, there is someone who is
5. Identify AML & CFT risks on the basis of NRA, SRA and responsible for the AML & CFT programs, designated
the five risk factor parameters, namely the profiles of as the Local AML. He or she is also given access to the
customers, businesses, countries and geographies, information system used in the management of AML
choice of banking products and types of businesses & CFT.
that are vulnerable to money laundering.
6. Measure the AML & CFT risks and mitigating those 2. Second Line of Defense
risks through the Risk Control Self-Assessment (RCSA) The second line of defense is an oversight function
mechanism, in order to minimize the potential of that ensures the first line of defense is on top of the
money laundering in the business units or branch situation. The AML & CFT Unit that acts as the second
offices. line of defense, prepares the strategy and steps
7. Map these risks bank-wide and undertake needed to take, and the system in use to strengthen
assessments and validation at branch offices or the implementation of the AML & CFT programs.
business units from time to time, both offsite and
onsite. 3. Third Line of Defense
8. Increase AML awareness within the Bank’s first line of The third line of defense is an oversight function
defense in the implementation of AML & CFT. on implementation of the AML & CFT programs by
9. Ensure that the Bank responds and fulfills to request the first and second lines of defense. The internal
for information from the authorities as provided for in auditors, external auditors and the Board of
the prevailing laws and regulations related to money Commissioners carry out this function to ensure that
laundering, terrorism funding and proliferation. the first two lines of defense are working effectively.
10. Provide services and information in the form of
advisory and recommendations to business units and The implementation of AML & CFT programs that are
branch offices with regards to AML and TFP. actively supervised by the Board of Directors and Board
11. Undertake the reporting process of LTKM, LTKT, of Commissioners of CIMB Niaga is as follows:
IFTI, SIPESAT as well as other reports pursuant to
prevailing laws and regulations in an accurate and 1. Establishment of a special organization, the Anti
timely manner. Money Laundering (AML) Unit, to implement the
12. Undertake the monitoring of the implementation AML & CFT programs
of AML & CFT at business units and branch offices In carrying out its function, the AML unit reports and
through the Testing and Quality Assurance method on is directly responsible to the Compliance Director.
the implementation of Risk Control Self-Assessment The staffs of AML unit possess adequate banking
(RCSA) and provide ratings for business units and knowledge and experience on the evaluation and
branch offices as a means to make improvements mitigation of risks related to the implementation
going forward. of the AML & CFT programs. All of the staffs have
13. Carry out updates on the information system to participated in training and certification programs on
always be aligned with advances in technology, compliance. 6 (six) additional staffs was joined in 2020,
transactions, products, services and latest activities. increased from 23 staff to 29 staff. In addition, in view
of the large scale of the Bank, a DCORO and the Local
AML Team are located at every Branch Office and
Business Unitto ensure the implementation of AML
& CFT in their respective branch or unit. As at year-
end 2020, the total number of employees assigned to
Local AML Team amounted to 6,144 employees.

2. Risk-based AML & CFT policies and procedures of, h. The administration of CDD document and other
in accordance with the complexity of the Bank’s documents related to AML & CFT.
business, involving the followings relevant i. Follow-up on results of evaluation and the
provisions: reporting on AML & CFT risk exposures to senior
a. Customer Due Diligence (CDD) in the context management, committee and regulator.
of Customer Identification and Customer Data j. Internal Control, encompassing:
Updates, including the classification of the 1) Preparing the process and control as
customer’s risk profile on the potential for money guidelines for business units to ensure
laundering and terrorism financing, identifying compliance and understanding of the AML &
the Beneficial Owner and screening of customer CFT programs. The controls are described in
data against the Anti Money Laundering Watchlist AML & CFT policies and procedures (SOPs).
(AML Screening) database. The realization of data 2) Testing and quality assurance process to
updating in 2020 reached 78,216 CIF (89,90%) out ensure that Branch Office and Business Unit
of a total of 87,000 CIF. have implemented AML & CFT in line with
b. The AML & CFT risks are measured through the prevailing Policies and Procedures.
indicators/parameters of the Risk Based Approach 3) Evaluation on risk indicators based on
(RBA), which comprises of the Customer Risk appropriate risk considerations and
Rating and the Bank AML Risk Rating. methodology as well as the documentation.
c. The AML & CFT risks are controlled and managed
through Customer Due Diligence (CDD) process 3. Management Information System in the
or Enhanced Due Diligence (EDD) to ascertain the Implementation of AML & CFT
profile of the customer and analyze whether the For the purpose of monitoring the profile and
transactions match with the customer’s profile, transaction of the customer, CIMB Niaga has used an
as well as through the socialization of the policies application system that can identify and determine
and procedures, training of all employees of the the degree of risk ascribed to the customer, analyze,
Bank, and evaluation on the implementation monitor and prepare a report on the characteristics
of AML & CFT at Branch Office through the Risk of the transactions of the customer, including
Control Self-Assessment (RCSA). the identification of suspicious transactions. This
d. Continuous monitoring and analysis to identify application is able to comprehensively monitor all of
correlation between customer transaction the customer transactions in the Bank, including those
and customer profile, including the closure of of credit cards, wealth management and custody.
accounts and refusal to carry out the transactions The application is equipped with parameters and
in the interest of AML & CFT enforcement. thresholds, all of which are continuously evaluated
e. Identification and evaluation of the risk of in line with the evolvement in the modus operandi
potential money laundering and terrorism of money laundering and terrorism funding. The
financing through the Bank’s products, services application is also able to carry out the screening
and e-channel deliveries. process of the watch list and the reporting of LTKM,
f. Identification and Reporting of Suspicious LTKT, LTKL & Sipesat. The Bank will continue to expand
Financial (LTKM), Cash Financial Transaction the use of the application with additional functions
(LTKT), Foreign Financial Transactions (LTKL) and that are designed to increase the effectiveness and
the Integrated Service User System (SIPESAT) to efficiency of the system.
the PPATK.
g. Procedure for screening new employees and
monitoring of employee’s financial transaction as
part on implementing the Know Your Employee
(KYE).

4. Screening of the Watch-List Throughout 2020, assessments had been carried out
The Bank carries out screening on every account on 125 branch offices and 14 business units, from
opening to ascertain if there are business connections which inputs were provided to all branch offices and
between the customer and those listed on the watch business units for improvements going forward.
list issued by the authorities as well as the watch lists
that are commonly referred to as part of international 6. Internal Control to Evaluate the Adequacy and
best practices, including The Office of Foreign Assets Effectiveness of the AML & CFT Programs
Control (OFAC) List, United Nations (UN) List, List of To ensure that the AML & CFT programs are
Alleged Terrorists and Terrorist Organisations (DTTOT) implemented in accordance with the policies that have
and Proliferation List, Politically Exposed Peoples been set, a self-assessment procedure is required
(PEP) and adverse news. The Bank subscribes to the of every branch office, which included the Risk Self-
watch-list database of Thomson Reuters-Worldcheck. Assessment method.
The Bank also carries out repeat screening of all
existing customers every time there is an update or 7. Compliance Test and Advisory related to AML &
addition to the watch-list. CFT
Throughout 2020, the AML Unit conducted 454
5. AML & CFT Risk Assessment reviews on the policies, procedures, products/
The Bank has developed a risk-based method to activities/channels to ensure full compliance towards
approach the measurement of risks related to AML the prevailing laws and regulations related to AML
& CFT at the customer level (customer risk rating) as & CFT. In addition, the AML Unit gave 454 opinions
well as at the bank-wide level (Bank AML risk rating): to the business and other working units on various
questions and issues related to the implementation
a. Customer AML Risk Rating (CRR), is a measure of AML & CFT.
of the AML & CFT risk that is inherent in every
customer by using indicators that cover customer 8. Training (Certification) of AML & CFT to Employees
identity/profile, geographic factors/countries or Training on AML & CFT are mandatory for all employees
businesses, products/services/channels that are on a periodical basis. These trainings are conducted in
used by customers and the type of business that classrooms as well as through e-learning. The number
is classified as Low, Medium and High. of employees that had participated in AML & CFT
training in 2020 is 18,209 staff including on-line training
The Risk Profile of CIMB Niaga in 2020: through Learning on the Go (LoG) application.
No Customer Risk Total % AML Training

1 Low Risk 51 0.00%
17,857 18,209
2 Medium Risk 5,125,712 95.72%
3 High Risk 229,072 4.28%
12,274
b. Bank AML Risk Rating (BARR), is a measure of the

AML & CFT risk at CIMB Niaga that is determined
based on the inherent risk as well as the level of risk
management and control over AML & CFT at the
Bank. Based on the Bank’s evaluation, the overall
AML & CFT Compliance Risk Profile as of the end of 2018 2019 2020
the 2nd semester of 2020 was “Low-Moderate”.
9. Reporting and Data Submission to Regulator/Law

Enforcement
The reporting to PPATK in the implementation of AML
& CFT has been carried out by the AML unit at the
head office, as follows:

Reported data to PPATK in 2020

919,496
640,258
491,564
444,692 445,992 422,791 2018
2019
109,702 103,570 2020

88,097
1,219 2,347 4,034
LTKM LTKT LTKL SIPESAT
Number of Correspondence with the Regulator in 2020
Agency Total Data Request

PPATK/BNN/KPK 317
Investigation 42
10. Improvements Initiatives in 2020

In 2020, in the efforts to enhance the implementation of AML & CFT, AML Unit took several initiatives as follows:
a. Improvement of the AML system that used to generate more added value in the implementation of AML & CFT
programs of the Bank.
b. Alignment of the policies of AML & CFT as well as SOP in line with prevailing regulations.
c. Alignment of the policies and implementation of AML & CFT with those of the CIMB Group.
d. Assessment of the implementation of AML & CFT at business units/branch offices as well as subsidiaries deemed
to have higher risks.
e. Determination of the measurement method for AML & CFT risks and the evaluation process of the inherent risk
mitigation.
f. Updates of customer data in line with the type of risk of the respective customer.
g. Addition of special learning modules for front-liners in Learning on the Go (LoG) as a means for the Bank to
provide online training related to AML & CFT to all employees.
AML & CFT PLANS IN 2021

For 2021, CIMB Niaga has a working plan in support of the implementation of AML & CFT as follows:
a. Undertake the development of the AML system with respect to the planned implementation of Go AML
b. Undertake the development of the AML system with respect to the need for improvement in the quality of LTKM
reporting in either Artificial Intelligence or Robotic applications.
c. Aligning the policies and procedures of AML & CFT to be in line with prevailing regulations as well as with policies of
the CIMB Group.
d. Assessing AML & CFT implementations at business units/branch offices and subsidiary operations that are deemed
to have higher risks.
e. Undertake the development of the AML system with respect to the registration and approval for an account opening
and data updates based on trigger events (such as opening additional accounts).
f. Apply the AML & CFT programs in every new product development or new activities including those that rely on the
enhancement of e-channel deliveries.

PUBLIC ACCOUNTANT
CIMB Niaga implements the External Audit function as Audit Committee’s evaluation of the potential risk of
an independent oversight of financial aspects through using the services of the same PAF in a row for a fairly
the implementation of Audit on the Financial Statements long period of time.
by Public Accountants (PA) and Public Accounting Firm
(PAF). Audit of the Bank’s Financial Statements is carried In 2020, the appointment of Drs. Irhoan Tanudiredja,
out to ensure that the financial information referred to is CPA, as PA for the first time, replacing the previous PA,
prepared and presented in a quality manner, and to form along with PAF Tanudiredja, Wibisana, Rintis & Rekan
and express an opinion on the fairness of the Financial (a member firm of PricewaterhouseCoopers Global
Statements. Network), was approved by the OJK through Letter S-106/
PM.22/2018 dated 15 January 2018.
The PA and PAF that conduct the audit on the Bank’s
Financial Statements for financial year 2020 were EFFECTIVENESS OF AUDIT BY PUBLIC
appointed in Annual GMS based on the recommendation ACCOUNTANT
from the Board of Commissioners and the Audit The provision of quality financial information is part
Committee, pursuant to POJK No. 13/POJK.03/2017 of the implementation of GCG principles as well as the
dated 27 March 2017 regarding Procedures for Using prevailing laws and regulations, which require that an
the Services of Public Accountants and Public Accountant audit of the Bank’s Financial Statements is performed by
Firms in Financial Services Activities. The selection an independent party, namely the PA and PAF, with the
process followed the established mechanism for the audit report is then submitted to the OJK.
procurement of goods and services to guarantee the
independence and quality of work of the designated PA To ensure the effectiveness of the implementation of
and PAF. the audit function, the Audit Committee evaluates the
implementation of the audit by the appointed PA and/or PAF,
POLICY FOR APPOINTMENT OF PUBLIC and the results of the evaluation are submitted to the OJK.
ACCOUNTANT
Pursuant to the provisions of POJK No. 6/POJK.03/2015 SUPERVISION AND COMMUNICATION
on Transparency and Publication of Bank Reports, an BETWEEN PUBLIC ACCOUNTANT AND THE
audit of CIMB Niaga’s Financial Statements for financial BANK
year 2020 was performed by an independent, competent, The Bank strives at all times to improve communication
professional and objective Public Accountant, registered with PA to ensure that the audit process is in accordance
with the OJK, in accordance with the Professional with the Professional Accountant Standards and the
Standards of Public Accountant as well as the pre- audit scope has been determined and completed on
determined work agreement and scope of audit. time, resulting in regular meetings to discuss a number of
significant issues. The designated PA must communicate
The Annual GMS on 9 April 2020 approved the plans for the audit on the Bank’s Financial Statements
appointment of Drs. Irhoan Tanudiredja, CPA, and the to the Audit Committee and submit the audit plan along
Public Accounting Firm of Tanudiredja, Wibisana, Rintis with the audit methodology and audit samples to be
& Rekan (a member firm of PricewaterhouseCoopers used, to Internal Audit.
Global Network), respectively, as PA and PAF registered
with the OJK. The Audit Committee and Internal Audit also continue to
supervise and ensure the smoothness and conformity
PERIOD OF SERVICE OF PUBLIC ACCOUNTANT of the external audit process with applicable regulations
AND PUBLIC ACCOUNTING FIRM as well as evaluating the quality of the audit process.
Pursuant to POJK No. 13/POJK.03/2017 dated 27 March The monitoring of the performance of PA and/or PAF
2017 regarding Procedures for Using the Services of is discussed with the Board of Directors through Audit
Public Accountants and Public Accounting Firms in Committee meetings attended by Internal Audit and
Financial Services Activities, the use of audit services on related Directors. The meetings also discussed the
historical financial information from the same PA must be follow-up of audit findings by PA and/or PAF, so that the
no longer than 3 (three) consecutive financial reporting coordination carried out could provide comprehensive
years, whereas the use of PAF services depends on the and optimal audit results.

NAMES, PERIODS AND FEES FOR PUBLIC ACCOUNTING FIRMS AND PUBLIC ACCOUNTANTS
CONDUCTING THE AUDIT ON THE BANK’S ANNUAL FINANCIAL STATEMENTS IN THE LAST 5
(FIVE) YEARS
Accountant Name PAF

Year Public Accounting Firm PA Period Fee (Rp) PAF License
(Partner-in-charge) Period
2020 KAP Tanudiredja, Irhoan Tanudiredja, CPA KEP-241/KM.1/2015
1 Rp9,396,000,000
Wibisana, Rintis & Rekan
2019 KAP Tanudiredja, Angelique Dewi Daryanto,
Rp13,938,500,000
Wibisana, Rintis & Rekan S.E., CPA
5 3 Rp15,037,000,000
Rp8,299,494,000
2016 KAP Tanudiredja, Drs. Muhammad Jusuf
2 Rp12,680,700,000
Wibisana, Rintis & Rekan Wibisana, M.Ec., CPA
FEES FOR OTHER SERVICES PROVIDED BY THE PUBLIC ACCOUNTING FIRM AND PUBLIC
ACCOUNTANT OTHER THAN THE AUDIT ON THE LAST ANNUAL FINANCIAL STATEMENTS IN 2020
In 2020, no fees were rendered to the Tanudiredja, Wibisana, Rintis & Rekan Public Accounting Firm for non-audit
services.

RISK MANAGEMENT
OVERVIEW OF RISK MANAGEMENT SYSTEM appropriate risk management policies and procedures to
AT CIMB NIAGA keep risk levels within defined limits as well as maintaining
CIMB Niaga implements risk management align with adequate human and technological resources. EWRM
Enterprise Wide Risk Management (EWRM) framework. implementation is also supported by the existence of a
This framework provides the basis for a risk management Risk Management Unit that acts independently from the
process that is proactive and forward looking to ensure risk-taking units.
healthy and sustainable business growth; maximizing
shareholder value; and manage capital comprehensively. The process of risk identification and measurement as
Within the EWRM framework, risk is managed in an well as the types of risks faced by the Bank are further
integrated manner by aligning risk appetite with business explained in the Risk Management section of this Annual
strategy. Report.
One of the main components of the EWRM framework RISK MANAGEMENT UNIT
is the implementation of strong Bank management
governance that functions to improve four eyes principle RISK MANAGEMENT ORGANIZATION STRUCTURE
mechanism as well as transparency in the entire risk The Risk Management (SKMR) function in the Bank is
management process. In addition, risk management has conducted by the Risk Management Unit (RMU), which
been made to be an integral part of the Bank’s culture, is led by Risk Management Director. The Bank’s Risk
operational activities and decision-making processes. At Management Unit structure is further explained in the
the daily risk management operational level, the Bank Risk Management section in this Annual Report.
applies the concept of three lines of defense by involving
all levels in the organization, starting from the Board of PROFILES OF RISK MANAGEMENT UNIT HEAD
Directors, senior management and all employees. The legal basis and mechanism of appointment and
dismissal of the Head of Risk Management Unit held
To ensure that the Bank can obtain an optimal level of by Risk Management Director as disclosed in the Board
risk adjusted return, risk discussion becomes the main of Directors’ discussion which is part of the Corporate
and fundamental issue in the business planning process, Governance Report Section in this Annual Report.
including in the formulation of risk appetite, risk posture
and new products/activities, to ensure the alignment VERA HANDAJANI
RISK MANAGEMENT
of strategy, growth, operational plans, capital and risk. DIRECTOR
In this regard, the Bank optimizes its risk management
function to support and provide analysis or information Complete profile presented
that can be used as a basis for making business decisions in the Board of Directors’
Profiles
related to pricing, resource allocation and other business
decisions. In this way, the Bank is expected to be able to
maintain the trust of customers, shareholders and other
stakeholders.
CIMB Niaga’s EWRM risk management process includes

KOEI HWEI LIEN
risk identification considered significant in the Bank’s HEAD OF RETAIL CREDIT RISK MANAGEMENT
business activities as well the capital requirement level. Complete profile presented in the Senior Executive’s Profiles
Risk Measurement and risk aggregation are performed
JULIUS WIANTARA TJHIOE
with an adequate methodology, while risk management, HEAD OF OPERATIONAL RISK MANAGEMENT (ORM)
risk control and risk reporting are performed continuously Complete profile presented in the Senior Executive’s Profiles
to evaluate and manage risks, as well as to ensure that
risk exposures are appropriate with the Bank’s risk DIVA MAHDI
HEAD OF MARKET RISK MANAGEMENT & MODEL VALIDATION
appetite. Complete profile presented in the Senior Executive’s Profiles
The implementation of EWRM is an ongoing initiative

and is supported by an adequate risk management
infrastructure. This includes developing and updating

YULIUS SETIAWAN TJAHJADI YAPETER

HEAD OF RISK ANALYTICS & INFRASTRUTURE HEAD OF WHOLESALE BANKING CREDIT
Complete profile presented in the Senior Executive’s Profiles Complete profile presented in the Senior Executive’s Profiles
WAHDINIE MUSMAR HENRY SAWALI

HEAD OF NON-RETAIL CREDIT POLICY AND ASSURANCE TESTING HEAD OF COMMERCIAL BANKING AND SME CREDIT
SANDI MARUTO HADI SOEDARSO

HEAD OF ALM RISK HEAD OF CREDIT RELATED RCU
CERTIFICATIONS OF RISK MANAGEMENT UNIT HEAD
Name Certification
Vera Handajani Certification is presented in the Board of Directors’ Profiles
Risk Management Director
Koei Hwei Lien Level 4 Risk Management Certification
Head of Retail Credit Risk Management
Julius Wiantara Tjhioe Level 4 Risk Management Certification
Head of Operational Risk Management (ORM)
Diva Mahdi Level 4 Risk Management Certification
Head of Market Risk Management & Model Validation
Yulius Setiawan - Certified Financial Risk Manager (FRM)
Head of Risk Analytics & Infrastructure - Certification in Risk Management Assurance (CRMA)
- Certified Internal Auditor (CIA)
- Level 4 Risk Management Certification
Wahdinie Musmar Level 4 Risk Management Certification
Head of Non-Retail Credit Policy and Assurance Testing
Sandi Maruto - Certified Financial Risk Manager (FRM)
Head of ALM Risk - Level 4 Risk Management Certification
Tjahjadi Yapeter Level 4 Risk Management Certification
Head of Wholesale Banking Credit
Henry Sawali - Level 4 Risk Management Certification
Head of Commercial Banking and SME Credit - Senior Credit Workshop – Omega Certification
- Minimizing Problem Loans - Omega Certification
- Credit Risk Module Certification
- Foreign Exchange & Treasury Certification
Hadi Soedarso - Level 4 Risk Management Certification
Head of Credit Related RCU - Level 1 Compliance Certification
- Diploma in Credit from The Chartered Institute of Bankers in Scotland, in
association with Omega Performance.
- Omega Certification & Certified Trainer for Omega Training module : Business
Lending Fundamental (BLF), Financial Accounting for Lenders (FAL), Commercial
Loan to Business (CLB) & Minimizing Problem Loan (MPL).
- Basic Knowledge in Pension Funds Certification issued by Pension Fund
Professionals Certification Institute (MUDP)
RISK MANAGEMENT UNIT DUTIES AND 5. Conduct periodic reviews of the Risk Management
RESPONSIBILITY process.
1. Monitor risk management strategy implementation 6. Review proposed new activities and/or products
recommended by the Risk Management Committee proposed or developed by particular unit. The review
and approved by the Board of Directors. is focused primarily on aspects of the Bank’s ability to
2. Provide input to the Board of Directors, on developing conduct the new activities and/or products, including
Risk Management policies. the systems and procedures used and their impact
3. Monitor position or overall risk exposure (composite), on overall risk exposure.
for each risk type, and each functional activity type. 7. Provide recommendations related to the amount or
4. Perform stress testing to determine the impact of maximum risk exposure that the Bank can have to
significant changes in external performance, liquidity the RTU and to the Risk Management Committee, in
and capital conditions. accordance with their respective authorities.

8. Evaluate model accuracy and validity of the data used 13. Carry out duties as an Integrated Risk Management
to measure risk in the event that the Bank uses the Work Unit in the context of implementing integrated
model for internal purposes. Risk Management.
9. Prepare and submit risk profile reports to the Board 14. Providing input to the Integrated Risk Management
of Directors, the Risk Management Committee and Committee, in order to formulate and improve
the Sharia Supervisory Board (for UUS Risk Profiles) Integrated Risk Management Policies.
on a regular basis or at least quarterly. 15. Prepare and submit Integrated Risk Profile reports
10. Monitor risk management policies implementation regularly to the Integrated Risk Management
including developing procedures for risk identification, Committee.
measurement, monitoring and control methods. 16. Provide information to the Integrated Risk
11. Review proposed new strategic business lines Management Committee on issues that need to be
and may have a significant effect on Financial followed up regarding the results of the evaluation of
Conglomerate Risk exposure. the application of Integrated Risk Management.
12. Conduct independent studies in the credit
underwriting process including post-mortem reviews.
COMPETENCY DEVELOPMENT PROGRAM AND PROFESSIONAL CERTIFICATION FOR RISK MANAGEMENT

UNIT MEMBERS
In 2020, the Risk Management Unit (RMU) comprised of 308 employees. A variety of training programs have been
organized in support of competence development of RMU personnel, including:
Name of Training Program/Workshop/Conferences/

No Organizer Date & Venue
Seminar
1 PROJECT TRANSFORMATION LEADERSHIP Deloitte & Electric 8 12 & 20 February 2020
Jakarta
2 Anti Fraud Awareness CIMB Niaga 29 February, 12 August,
18 September, 16 October,
4 November
Online
3 Mastering & Enhancing Presentation With Infographic Executrain 17 June 2020
Online
4 Design Thinking CIAS (Corporate Innovation Asia) 8 July 2020
Online
5 Centre of Applied Data Science (CADS) Level 4 CADS 9 September 2020
Online
6 Digital-Data-Design as Key Diffrentiator VP AdTech and PromoTech Gojek 30 September 2020
Online
7 Agile Scrum Foundation For Risk Management Trainocate 7, 23 October & 9 November 2020
Online
8 Advanced Corporate Credit - Warning Signals Fitch Learning 2 November 2020
Online
9 Certified Python Programmer for Data Science I Train 30 November 2020
Online
10 Problem Credits: Early Warning Signs and Restructuring Moody’s Analytics 8 December 2020
Online
RISK MANAGEMENT CERTIFICATION

The number of Bank personnel who obtained Risk Management Certification (RMC) is presented in the following table:
Total personnel with RMC

Mandatory RMC
Level (mandatory & non-mandatory)
Passed Not Yet Passed % Passed %
1 1,675 46 97% 2,591 155%
2 585 29 95% 1,200 205%
3 257 9 96% 419 163%
4 98 1 99% 114 116%
5 8 0 100% 10 125%
Total 2,623 85 96% 4,334 165%

BOARD OF DIRECTORS’ PERFORMANCE A more detailed discussion on the various risk types and
ASSESSMENT OF RISK MANAGEMENT UNIT efforts of the Bank in risk management can be found in
CIMB Niaga continuously reviews the effectiveness of the Risk Management section of this Annual Report.
RMU’s performance. The assessment of the effectiveness
of RMU’s performance can be seen from the indicators of RISK MANAGEMENT SYSTEM EFFECTIVENESS
asset quality and losses due to operational risk, among STUDY RESULT
others. Although the Bank is still experiencing challenges The risk management processes in the Bank is evaluated
in 2020, in connection with the COVID-19 pandemic, by the Risk Management Committee (RMC) that is
overall risk indicators are still at a manageable level, which responsible for the implementation of the overall risk
reflects on the proper execution of RMU’s performance. management framework. Chaired by the President
Director, the committee consists of all members of the
In 2020, operational risk is still within the range of the Board of Directors and a number of executive officers.
Bank’s pre-determined risk appetite. In addition, the
Bank has completed several initiatives for the review, In RMC meetings, in addition to comprehensive
improvement, and development of infrastructure such discussions on monthly risk exposure reports, other
as systems, methodologies and human resources, to specific matters are also discussed, such as discussion
support healthier business growth of the Bank going of the risk appetite monitoring dashboard, which
forward. serves as a traffic light related to risk-taking activities
carried out by the Bank, the implementation of Internal
RISK MANAGEMENT Capital Adequacy Assessment Process (ICAAP) to assess
CIMB Niaga implements an Enterprise Wide Risk the Bank’s capital adequacy in relation to its risk level,
Management (EWRM) framework in risk management approval of policies and procedures, implementation of
that is proactive and forward looking. The EWRM integrated risk management, approval of risk limits and
framework refers to and is in line with the scope of risk approval of models and methodologies used in the risk
management determined by regulators, namely: (i) Active measurement process.
supervision of the Board of Commissioners and Board
of Directors; (ii) Adequacy of risk management policies In addition to the RMC, there are several other Executive
and procedures as well as risk limit setting; (iii) Adequacy Committees related to risk management to discuss
of risk identification, measuring, monitoring and control certain risks in more depth, such as the Asset Liability
processes, as well as risk management information Committee (ALCO), the Operational Risk Committee
system; and (iv) Comprehensive internal control system. (ORC), the Credit Policy Committee (CPC), and the IT
Steering Committee (ITSC).
Risk management begins with the risk identification
stage, which aims to determine the material risks to In 2020, CIMB Niaga’s evaluation on risk management
products and activities to be measured further so that process has been effective. All decisions made by these
the Bank can determine the level of risk faced. Next, committees are properly documented. In addition, the
the Bank determines which risks will be taken, avoided, Board of Commissioners also conducts evaluation of the
transferred or managed by considering the risk impact implementation of risk management strategies through
and cost and benefit of the Bank’s products or activities. the Risk Oversight Committee (ROC). Several matters
related to the implementation of risk management
CIMB Niaga continues to ensure a process for reporting require approval from the Board of Commissioners,
and reviewing the effectiveness of the Bank’s risk including: approval of risk management policies,
management system. In addition, the Bank continues to determination of the Risk Appetite Statement and
strive to implement a risk management process based direction on risk levels that may be taken by business
on prudential principles and establishes a risk culture, units in the year concerned.
risk management infrastructure and good corporate
governance.

INTERNAL CONTROL SYSTEM
The internal control system is a control mechanism 2. Information Objective

that is applied by the Bank on a continuous basis. An To provide information that is accurate,
effective internal control system is a key element and comprehensive, on-time and relevant for the purpose
the foundation for a safe and sound banking operations, of informed decision making that is appropriate and
enabling the Board of Commissioners and the Board accountable, comprising of both financial and non-
of Directors to safeguard the Bank’s assets, ensuring financial reporting for internal and external parties.
reliable management and financial reports, enhancing
the Bank’s compliance to prevailing laws and regulations, 3. Operational Objective
as well as reducing the risk of loss, fraud, or violation To increase the effectiveness and efficiency in the
of the prudential aspects, while also increasing the use of the Bank’s assets and other resources, and
effectiveness of the organization as well cost efficiency. to protect the Bank from the risk of losses including
from fraudulent activities.
As a process that is carried out at all levels of the
organization, the internal control system is inherently 4. Risk Culture Objective
applied within the strategies of all working units and is To identify weaknesses and detect frauds early and
designed to identify the possibilities of any event that reevaluate the merits of the Bank’s internal policies
may have an effect on the Bank, and to mitigate risks to and procedures on a continuous basis.
remain within the Bank’s tolerable risk appetite, in order
to provide reasonable assurances for the Bank to achieve IMPLEMENTION OF INTERNAL CONTROL
its objectives. SYSTEM, FINANCIAL AND OPERATIONAL
IN LINE WITH COSO - INTERNAL CONTROL
BASIS OF IMPLEMENTATION FRAMEWORK
The implementation of the internal control system at The implementation of the Bank’s internal control system
CIMB Niaga is carried out pursuant to the OJK Circular is pursuant to COSO (Committee of the Sponsoring
Letter No. 35/SEOJK.03/2017 on the Guidelines for the Organizations of the Treadway Commission) - Internal
Internal Control Standard of a Commercial Bank. The Control Integrated Framework, in formulating the
main objective of the internal control system, in addition framework of internal control that ensures adequate
to the efforts in support of achieving the Bank’s vision and control over operational as well as financial aspects,
mission, is also to increase stakeholder value, minimize financial reporting, operational effectiveness and
risk of loss, and ensure compliance to prevailing laws efficiency, and compliance towards prevailing laws and
and regulations. CIMB Niaga implements the Internal regulations.
Control System as a key component of supervision over
the Bank’s management, and a measure for the sound FINANCIAL AND OPERATIONAL CONTROL
and controlled operations of the Bank. The Bank’s internal control is applied to two aspects,
namely the operational control and financial control.
THE PURPOSE OF IMPLEMENTING THE The Bank’s operational control incudes:

INTERNAL CONTROL SYSTEM 1. A review by the Board of Directors by requesting for
CIMB Niaga undertakes an effective internal control explanation and the operational performance report
system with the following objectives: of the Bank such that the Directors could detect
weaknesses in the controls, faults in the financial
1. Compliance Objective reporting, and even frauds.
To ensure that all business activities of the Bank are 2. A review of the risk profile reporting by the Risk
carried out within prevailing laws and regulations, Management Unit, and analysis of the operational
including those issued by the Government, the data by the Internal Audit.
Banking Regulatory Authority, the Capital Market 3. A review of Bank’s work plan and budget realization.
Authority, as well as the Banks internal policies, rules 4. Undertake control over information technology that
and procedures. encompasses control over operational database and
applications.
5. Documentation of all policies, procedures and work
standards.

Meanwhile, the Bank undertakes financial control in the ALIGNMENT OF INTERNAL CONTROL WITH THE
followings: COSO FRAMEWORK
1. Implement segregation of duties such that every CIMB Niaga carries out the internal control system on the
person in their respective positions will not have the operational and financial reporting of the Bank pursuant
opportunity to hide mistakes and or frauds in the to the international standards COSO – Internal Control
exercise of their duties. Integrated Framework. COSO states that internal control
2. All policies, procedures, operational systems and is a system or process that is carried out by the Board of
accounting standards are updated regularly to reflect Commissioners, Directors, Management and employees
current and actual operations. of a company, to provide adequate assurances for
3. Approval for expense disbursement and its realization. achieving the control goals.
4. Control over customer accounts and Bank’s account.
5. Control over transaction records in the Bank’s ledger. The COSO – Internal Control Framework, is comprised of
6. Control over physical assets, comprising of among five components, which are:
other things safeguarding assets, record keeping 1. Control Environment
and documentation, as well as access restriction to 2. Risk Assessment
application programs. 3. Control Activities
4. Information and Communication
5. Monitoring
Throughout 2020, CIMB Niaga had implemented the COSO-based internal control system as follows:
The Internal Control Component Based on COSO Implementation of Internal Control System at CIMB Niaga
Control Environment The Board of Commissioners, through the committees that have
The control environment forms the basis for all internal control been formed periodically, evaluates the control environment and
components. makes independent assessments that are conveyed to the Board of
Directors, for subsequent follow ups.
The control environment factors comprise of integrity, ethical values,
competency of people and entities, management philosophy and
style, and the ways in which Management exercises authority and
responsibility as well as organizes and develops people, the attention
and direction from the Commissioners.
Risk Assessment The Board of Directors has put in place procedures to anticipate,
A mechanism that is designed to identify, analyze, and manage risks identify and response to events and challenges that could compromise
that pertain to the various activities where the organization operates. the achievement of goals. The Board of Commissioners through the
Risk Monitoring Committee ensures that the Board of Directors has
carried out risk management effectively.
Control Activities The policies and procedures have been set for both the main business
These are activities of the policies and procedures adopted by units and supporting business units, and have been approved by the
Management to help ensure that goals are achieved. Board of Directors, which are periodically reviewed and renewed by the
Risk Management Unit.
The Compliance Unit is responsible for disseminating information

on the prevailing banking regulations, undertakes due diligence over
compliance towards new rules, as well as on recommendations for
new products or new activities, implements the Anti-Money Laundering
and Counter-Terrorist Financing, and monitors compliance through
designated officers in other operating units that are verified by
Independent Units that constitute the second and third line of defense.
The Compliance Unit submits regular compliance reports to the Board
of Commissioners, Directors and Regulators.
Bank officials review the status and effectiveness of controls periodically,

carry out adequate job delegation, and undertake routine verification
on the accuracy of data and due diligences on plans in response to
emergency situations.

The Internal Control Component Based on COSO Implementation of Internal Control System at CIMB Niaga
Information and Communication A procedure is at hand to collect data from information technology that
A system that allows individuals or entities to obtain and share can result in the reporting of business activities, financial condition,
information needed to carry out, manage and control operations. risk management implementation and the fulfillment of conditions
that allow the Board of Directors and Board of Commissioners to carry
out their duties.
Monitoring The Board of Directors, Bank executives and the Internal Audit
The implementation of the internal control system shall be undertake continuous monitoring of the effectiveness of the entire
monitored to ensure its effectiveness. internal control activities.
The monitoring of primary risks has been prioritized and is part of daily
activities, including the periodical reviews. The Board of Directors and
the Bank executive are committed to the efforts and have followed up
the findings and recommendations of the Internal Audit.
In its internal control system framework, CIMB Niaga The Board of Commissioners, assisted by the Audit
adopts the Three Lines of Defense concept, which Committee, is responsible for supervising and ensuring
constitutes the implementation of the control strategy that internal control is broadly undertaken, including the
within the monitoring system of COSO – Internal Control policies of the Board of Directors on the internal control.
Framework that is fully described in the Section on Risk The internal control system is designed to manage and
Management of this annual report. control risks effectively, and not to eliminate the risks.
This statement on internal control describes the key
STATEMENT OF ADEQUATE INTERNAL elements used to achieve the purpose of the Bank’s
CONTROL internal control, as follows:
The internal control system is a process that is carried out 1. Operations are carried out effectively and efficiently;
by the Board of Directors and all of the Bank’s executives 2. Financial reporting that is reliable and accurate;
that provide the instruction, guidelines and supervision; 3. Compliance towards prevailing laws and regulations;
the Executive Committee; The Internal Audit; as well as all and
employees. Both the Board of Commissioners and Board 4. Safeguarding the Bank’s assets.
of Directors commit to ensure that Good Corporate
Governance is implemented as the foundation for EVALUATION ON THE EFFECTIVENESS OF
achieving the goal of protecting and increasing the value INTERNAL CONTROL
of the Bank. One of the best implementations of Good Throughout the year 2020, CIMB Niaga carried out
Corporate Governance is to ensure that internal control its internal control system in line with the principles
is adequately carried out. The Board of Directors is of control and, in general, the quality of the internal
responsible for implementing internal control effectively control system being applied is considered sound. Issues
to enable the Bank to achieve its goal. pertaining to the adequacy of internal control have been
reported to the Board of Directors, and follow-up steps
have been taken to mitigate risks. Reports have also
been submitted to the Board of Commissioners through
Committees at the Board of Commissioners level.

IMPORTANT CASES
Throughout 2020, the Bank had to deal with a number of important cases both civil and criminal cases. In the civil cases,
the Bank was a Defendant; whereas in the criminal cases the Bank was a Reported Party, with details of the cases as
follows (excluding Sharia cases, which disclosed in the Sharia Business Unit Governance Report):
Total
Legal Issues Civil Cases Criminal Cases
2020 2019 2020 2019
Total Cases 220 269 11 13
Settled Cases (final and legally binding) 66 77 - 8
Cases in the Settlement Process (as of December) 154 192 11 5
IMPORTANT CASES INVOLVING THE BANK

Cases with a value of over Rp10 billion, with the quantitative risk information faced by the Bank, in 2020 included:
Risk Bank’s
Imposed
No Case Subject Status Encountered Management Case Value
Sanctions
by the Bank Efforts
1 Lawsuit No 253/ Customer’s Appeal to the Loss of The bank has NA Material:
PDT.G/2016/PN.Jkt.Ut internal High Court of collateral submitted a Rp291,500,000,000
between shareholder DKI Jakarta counter Appeal
conflict that supports its Immaterial:
JMS (Plaintiff I) (inheritance position Rp300,000,000,000
RVS (Plaintiff II) dispute)
AJS (Plaintiff III)
and
Bank (Defendant X)
2 Lawsuit No. 176/ Granting Appeal to Compensation The bank has NA Material:
PDT.G/2017/PN.DPK of rights to the Supreme for the value submitted a Rp2,100,000,000,000
shareholders Court of the of the lawsuit counter Appeal
between to buy back Republic of to be paid that supports its Immaterial:
shares Indonesia with other position Rp2,200,000,000,000
SA (Plaintiff I) Defendants
SP (Plaintiff II)
BUG (Plaintiff III)
SBP (Plaintiff IV)
SPP (Plaintiff V)
and
Bank (Defendant II)

3 Lawsuit No. 572/ Cancellation Appeal to Compensation Maximum NA Material:
PDT.G/2018/PN.Jkt.Sel of Credit the Supreme for the value effort has been Rp34,818,314,000
Agreement Court of the of the lawsuit made to reach
between Addendum Republic of an amicable Immaterial:
Indonesia settlement Rp50,000,000,000
BKPL (Plaintiff) between the
parties. The
and bank is currently
waiting for the
Bank (Defendant) lawsuit to be
revoked.

Risk Bank’s
Imposed
Sanctions
by the Bank Efforts
4 Lawsuit No. 109/ Debtor was Appeal to the Compensation The Bank has NA Material:
PDT.G/2019/PN.Jkt.Tim in default High Court of for the value won the lawsuit Rp11,400,000,000
and filed a DKI Jakarta of the lawsuit and the Plaintiff
between lawsuit for has submitted Immaterial:
cancellation an Appeal. Rp -
DJ (Plaintiff) of the auction Until now there
execution has been no
and memory of
appeal nor
Bank (Defendant) release of
notification of
appeal
5 Lawsuit No. 359/ Debtor Appeal to the Compensation The bank has NA Material:
Pdt.G/2019/PN.Jkt.Sel defaulted High Court of for the value submitted a Rp110,000,000,000
and filed a DKI Jakarta of the lawsuit counter Appeal
between lawsuit for the that supports Immaterial:
cancellation its position and Rp100,000,000,000
IH (Plaintiff I) of the auction is currently
IRMAS (Plaintiff II) execution awaiting a
verdict.
and
Bank (Defendant I)
6 Lawsuit No. 134/ Claims from Appeal to Compensation The Bank NA Material:
PDT.G/2019/PN.Dpk customers the Supreme for the value is currently Rp114,769,504.954
regarding Court of the of the lawsuit awaiting a
between withdrawal of Republic of to be paid Cassation Immaterial:
deposits. Indonesia with other verdict Rp150,000,000,000
HM (Plaintiff) defendants
and
Bank (Defendant I)
7 Lawsuit No. 902/ Lawsuit In the District Compensation The bank NA Material and
PDT.G/2019/PN.Jkt.Sel regarding the Court of for the value is currently Immaterial:
cancellation Jakarta Selatan of the lawsuit awaiting a Court Rp100,000,000,000
between of a debtor’s verdict
collateral
IB (Plaintiff) auction
and
Bank (Defendant I)
8 Lawsuit No. 16/ Debtor Appeal in the Compensation The Bank NA Material and
PDT.G/2020/PN.Skh defaulted High Court of for the value has won the Immaterial:
and filed a Semarang of the lawsuit lawsuit at the Rp60,000,000,000
between lawsuit for the to be paid District Court of
cancellation with other Sukoharjo.
SCG (Plaintiff) of the auction. defendants The Plaintiff
The Plaintiff has submitted
and felt that he was an appeal of
under threat, this decision.
Bank (Defendant I) intimidation The appeal is
and pressure currently ongoing
from at the High Court
Defendant I of Semarang.

Risk Bank’s
Imposed
Sanctions
by the Bank Efforts
9 Lawsuit No. 855/ A lawsuit In the District Compensation The trial process NA Material:
PDT.G/2020/PN.Jkt.Sel related to the Court of for the value is currently Rp15,000,000,000
cancellation of Jakarta Selatan of the lawsuit ongoing in the
between Cessie to be paid District Court of Immaterial:
with other Jakarta Selatan Rp10,000,000,000
KIL (Plaintiff) Defendants
and
Bank (Defendant I)
MATERIAL CASES INVOLVING INCUMBENT MEMBERS OF THE BOARD OF DIRECTORS AND THE
During 2020, no members of the Bank’s Board of Directors and/or Board of Commissioners were involved in civil and/
or criminal cases and/or disputes.
MATERIAL CASES INVOLVING SUBSIDIARIES

In 2020, legal issues faced by the Subsidiaries consisted of civil and criminal cases, as follows:
Total
Subsidiary Legal Issues Civil Cases Criminal Cases
2020 2019 2020 2019
CIMB Niaga Auto Finance (CNAF) Total Cases 13 30 6 107
Settled Cases (final and legally binding) 3 22 3 44
Cases in the Settlement Process (as of 10 8 3 63
December)
CIMB Niaga Sekuritas (CNS) Total Cases - - - -
Settled Cases final and legally binding) - - - -
Cases in the Settlement Process (as of - - - -
December)
MATERIAL CASES INVOLVING INCUMBENT MEMBERS OF BOARD OF COMMISSIONERS AND THE

BOARD OF DIRECTORS
During 2020, no members of CNAF’s Board of Directors and/or Board of Commissioners were involved in civil and/or
criminal cases and/or disputes.
IMPACT OF LEGAL ISSUES FOR THE BANK AND ITS SUBSIDIARIES

Litigation involving the Bank in 2020 did not materially affect the status, position and/or business continuity of the Bank
and its subsidiaries.

ADMINISTRATIVE SANCTION
FROM RELEVANT AUTHORITIES
Throughout 2020, there were no material administrative sanctions that affected the continuity of the Bank’s business,
nor were there any administrative sanction imposed on members of the Board of Directors and Board of Commissioners
by the regulators.
ANTI-CORRUPTION POLICY
PROGRAMS AND PROCEDURES TRAINING/SOCIALISATION ON ANTI-

CIMB Niaga has an Anti-Corruption Policy No. M.11 to CORRUPTION
complement all other policies related to the prevention CIMB Niaga constantly strives to increase the awareness
of corruption and as part of the Bank’s commitment in of all Bank levels in the prevention and avoidance of
supporting anti-corruption practices, including the Code corruption practices, including by socialization through
of Ethics and Conduct and the Anti-Fraud Policy. blast email on Anti-Corruption and the Anti-Corruption
Policy, socialization on the prohibition to receive or
The Anti-Corruption Policy of CIMB Niaga regulates the give gratification, and anti-fraud awareness campaign
programs and procedures, as follows: to all employees, as well as regular reminders on anti-
1. The Bank’s principles in supporting anti-corruption gratification to the Bank’s relations through mails,
practices; e-mails, website, social media of the Bank and national
2. The commitments to anti-corruption in the Bank; daily newspaper.
3. The responsible parties;
4. The corruption prevention programs, include: As part of the Banks’ commitments in supporting anti-
a. Implementation of awareness programs; fraud and anti-corruption, on 9 April 2020 the members
b. Know Your Customers (KYC) and Know Your of the Board of Commissioners and Board of Directors of
Employee (KYE); CIMB Niaga have signed the Declaration of Integrity Pact,
c. Anti-Gratification Letters to the Bank’s Business Code of Ethics and Anti-Corruption Commitments as well
Relations. as made a Director’s testimony on the commitment to
5. The prohibition to give and/or receive gratification anti-fraud, bribery & corruption. These two items have
and political donation; also been presented to the public through the CIMB
6. Sanctions; Niaga website. The commitments have subsequently
7. Documentation and Reporting. been followed up at all levels of the organization through
the mandatory attestation of the Declaration of Integrity
Pact and Code of Ethics & Anti-Corruption Commitments
by all employees, both permanent and non-permanent
employees.
CIMB Niaga also provides a Whistleblowing System

channels as a reporting tool for employees and
external parties which is explained in more detail in the
Whistleblowing System section in this Annual Report.

ACCESS TO
BANK INFORMATION AND DATA
CIMB Niaga will always commit towards transparency 3. Providing transparency on the Bank’s financial and
that constitutes as one of the elements of Good non-financial information, as well as Bank strategy.
Corporate Governance. The Bank provides convenient 4. Communicating the Bank’s performance to external
access to pertinent data and information on the Bank’s parties such as investors, securities analysts and
performance for all stakeholders. All of this information, other capital market community.
whether financial or non-financial, is accessible via 5. Maintaining good relationship and serving as liaison
communication conduits such as press releases and public officer between the Bank and its stakeholders by
expose. The Bank actively disseminates information in managing the communication and correspondence
both printed and electronic media, including its official with investors, securities analysts, securities firms
website that is accessible in the Indonesian language and and rating agencies.
English. 6. Ensuring the Bank and customer information
confidentiality as is appropriate and not using such
To obtain further information, the Bank has several information for own or others benefits.
number of contact points that can be accessed, including: 7. Coordinating the production, publication and
• Contact Center: 14041 or +6221-2997-8888 (from distribution of the Annual Report to all stakeholders.
overseas) 8. Providing the data and information of the Bank’s
• Preferred Assistance: 1500 800 (for CIMB Preferred performance on the website in both the Indonesian
customers) language and English, which provide a broader and
• Email: 14041@cimbniaga.co.id more convenient access to the public to obtain the
• Business Banking Contact Center: 14042 or following information:
+6221-8065-5111 (from overseas) a. Monthly and quarterly reports, liquidity capital
• Website: www.cimbniaga.co.id, ratio (LCR) and net stable funding ratio (NSFR),
• Investors can reach the Bank’s Investor Relations quantitative risk exposures, disclosure on capital
services directly through the webpage: https:// adequacy as well as the financial statements of
investor.cimbniaga.co.id or email: investor.relations@ the parent entity pursuant to OJK requirements
cimbniaga.co.id that apply to banks in Indonesia.
b. Quarterly consolidated financial statements and
INVESTOR RELATIONS the audited financial statements pursuant to OJK
CIMB Niaga has an Investor Relations unit that is requirements for publicly listed companies as well
responsible for managing relationships and interactions as for presentation material in Analyst Meetings.
with financial community. By providing relevant, accurate c. The Annual Report that contains a comprehensive
and timely information to all stakeholders, the Bank report for the general public and stakeholders
aims to assist investors to make informed decisions on on the performance, business results and other
their investments, while also addressing the perceptions activities of the Bank.
and expectations of investors with regards to strategy,
performance and financial condition of the Bank. ACTIVITIES OF INVESTOR RELATIONS
Throughout the year 2020, the activities and interactions
The duties and responsibilities of Investor Relations are of Investor Relations with investors, securities analysts,
as follows: and other capital market community, include:
1. Developing the communication strategy pertaining
mainly to investors, securities analysts, fund
managers, securities firms, rating agencies and the
general capital market community.
2. Preparing presentation materials on the Bank’s
financial performance for use in analyst meeting,
public expose, and teleconference in the interest of
transparency.

1. Organized 4 (four) analyst meeting in a year
Date Topic Description

19 February 2020 CIMB Niaga 4Q19 Results Conference Call
8 May 2020 CIMB Niaga 1Q20 Results Conference Call
30 July 2020 CIMB Niaga 2Q20 Results Conference Call
6 November 2020 CIMB Niaga 3Q20 Results Video Conference Call
2. Interactions and discussion with investors and securities analysts through teleconferencing as well as in-house
meetings, as follows:
Type of Meeting Number of Meeting Security Analysts/Investor

Bilateral Meeting 5 11
Group Meeting 1 8
Teleconferencing 3 27
Total 9 46
3. Organized the Annual Review with national and international credit rating agencies:
Date Rating Agency

13 April 2020 Fitch
4 September 2020 Pefindo
24 November 2020 Moody’s
4. The Bank’s Annual Public Expose for 2020 was held on 18 November 2020 carried out on-line through video
conference using the Webex Event platform. In this Public Expose, the Bank’s Board of Directors presented the
operational and financial performance, as well as the strategy of the Bank to the general public, media, securities
analysts, investors and potential investors.
SOCIAL MEDIA FACEBOOK

CIMB Niaga maintains and manages 5 (five) social media
accounts, which are:
1. Facebook : CIMB Niaga
2. Instagram : @cimb_niaga
3. Twitter : @CIMBNiaga
4. Youtube : CIMB Niaga
5. LinkedIn : CIMB Niaga
These accounts serve for delivering information on the

Bank’s activities including brands, product promotions,
tips and other information. In addition, 3 (three) of the
5 (five) accounts respond to fans/followers inquiries,
whether as Bank’s customers or non-customers. The
Bank also uses social media to convey information on
the Bank’s activities, as well as to help customers with
problems that they may encounter in their banking
transactions.

INSTAGRAM YOUTUBE
LINKEDIN
TWITTER
INTERNAL COMMUNICATION
CIMB Niaga also maintains its internal communication, providing information to employees as one of the Bank’s
stakeholders through internal communication’s various channels, i.e. email blasts (Gallery News & HR Info), e-Portrait
digital magazine, and wallpaper on desktop or laptop. Employees can easily access the available information using
various platforms such as computer and smartphone. Throughout 2020, the e-Portrait site was visited around 6,700
times by employees via handheld or computer. In addition, all employees also received update through email blast and
wallpaper on daily basis.

GALLERY NEWS
WALLPAPER
HR INFO
PRESS RELEASES
Engaging and maintaining good relations with the
mass media through various activities, including the
distribution of press releases, which constitutes as one of
the Bank’s priorities. CIMB Niaga believes that the mass
media has a significant role in reporting the journey,
growth and achievements of CIMB Niaga.
PRESS RELEASES 2020
No. Titles Dates

JANUARY
1 CIMB Niaga Instils Financial Literacy to Students via AMDB 23
2 CIMB Niaga Launches Latest Innovation, VCN and BizChannel@CIMB Mobile for Corporate Customers 30
FEBRUARY
3 Collaboration of Visa, CIMB Niaga and Tokopedia Offers Credit Card Billing Payment Services 3
4 Welcoming 65 Years of Services in Indonesia, CIMB Niaga Unveils Special Offerings 4
5 CIMB Niaga Offers Discount Promo and Cashback 65% on XTRA XPO 2020 8
6 Completely digital CIMB Niaga Opens the Digital Lounge @Campus at the Faculty of Economics and Business of UGM,
17
Yogyakarta
7 CIMB Niaga Reports Increasing Consolidated Net Profit of 12.4% to IDR3.9 Trilion 19
8 CIMB Niaga Sharia Books Increasing Profit of 63.7% to IDR1.1 Trillion in 2019 28
MARCH
9 Supporting the National QRIS Week, CIMB Niaga Expedites Non-cash Transaction 13
10 CIMB Niaga Ready to Serve Customers with Comprehensive Digital Banking 22
11 Stay at Home. Remain Productive with CIMB Clicks 27
12 CIMB Niaga Syariah Supports DT Peduli in Collection of Zakat, Sedekah, and Wakaf Using QR Code 31
APRIL
13 CIMB Niaga Expedites Banking Transaction of Corporate Customers Through Bizchannel@CIMB 3
14 Promoting Non-cash Transaction, CIMB Niaga Offers Top-Up Promo on GoPay 8
15 AGM of CIMB Niaga Approves the Annual Report and Consolidated Financial Statements for Fiscal Year 2019 9
16 Initiating SolidLawanCOVID, CIMB Niaga Implores the Public to Help Others 16
17 CIMB Niaga Distributes protective health gear (APD) to University of Indonesia Hospital and Marinir Hospital 21

No. Titles Dates

18 Welcoming Ramadhan, CIMB Niaga Syariah Facilitates ZIS Payment Digitally 23
19 CIMB Niaga Offers Convenience to Fulfill the Needs of Customer during Ramadhan 27
MAY
20 Introducing OCTO Mobile, CIMB Niaga Unveils Transformation Towards the Complete Digital Bank ] 4
21 CIMB Niaga Reports Consolidated Net Profit Growth 11.8% Y-o-Y to IDR1.1 Trillion for First Quarter of 2020 8
22 CIMB Niaga Expedites Customer Investments via OCTO Mobile 18
JUNE
23 CIMB Niaga Aligns Branch Office Operations 10
24 Implementing Corporate Governance Pursuant to ASEAN Standards, CIMB Niaga Earns the ASEAN Corporate Governance
11
Scorecard Award
25 Presenting #KejarMimpi Online Festival, CIMB Niaga Implores Indonesia’s Youth to Prepare for The New Culture 12
26 Introducing OCTO Clicks, CIMB Niaga Completes the Digital Experience of Its Internet Banking 29
27 CIMB Niaga Syariah and YPI Al-Azhar Offer the Edu Xtra Financing Program 30
JULY
28 CIMB Niaga Syariah Donates an Ambulance for Communities of West Bandung 10
29 Appreciating Customers, CIMB Niaga Unveils the Festival Xtra Step Up Savers Program 21
30 For a Safe and Healthy Transaction in the New Normal Era, CIMB Niaga Encourages the Public to Use the Scan QRIS
22
OCTO Mobile
31 Welcoming Idul Adha, CIMB Niaga Syariah Facilitates Healthy and Safe Payment for Qurban Through Digital Transaction 28
32 CIMB Niaga Earns ‘The Most Helpful Bank during COVID-19 in Indonesia’ Award from The Asian Banker 29
33 CIMB Niaga Reports Consolidated Net Profit of IDR1.7 Trillion for First Semester of 2020 30
AUGUST
34 Practical and Convenient, CIMB Niaga Encourages Public to Use OCTO Mobile for Healthy and Safe Transaction 6
35 OCTO Mobile Provides Solution for Healthy and Safe Out-of-Home Shopping 13
36 #KejarMimpi On-line Leaders Camp Declares ‘Pantang Menyerah’ Spirit Amid Pandemic 16
37 Pay Property Tax via OCTO Mobile, Accessible from Anywhere 18
38 Convenient and Beneficial, Transfer Funds via OCTO Mobile is the Solution 27
SEPTEMBER
39 Increasing Financial Literacy Among Students, CIMB Niaga Unveils AMDB and TDB Program via Digital 1
40 With OCTO Mobile, CIMB Niaga’s Customers Can Invest in Sukuk Ritel 013 from Smartphone 2
41 Celebrating National Customer Day (Harpelnas), CIMB Niaga Offers Attractive Programs as Appreciation to Customers 4
42 CIMB Niaga, Accor, and Mastercard Introduces the CIMB Niaga ‘ALL Accor Live Limitless’ Credit Card 9
43 OCTO Clicks CIMB Niaga Expedites Customer for Mass Transfer Up To 100 Receiving Accounts 10
44 Quality Family Time, The Formula for Family Success in Times of Pandemic 13
45 CIMB Niaga Earns Three Awards in the 2020 Asian Banking and Finance Award 14
46 CIMB Niaga and Visa Present the CIMB Niaga Visa Travel Card 16
47 In Sinergy with Bogor Institute of Agriculture (IPB), CIMB Niaga Syariah Supports the “Tri Dharma” Development of Higher
17
Learning Institutions
48 OCTO Clicks Helps Customers Maintain Financial Health Through Personal Financial Management 18
49 CIMB Niaga Earns the 2020 Anugerah Inovasi Indonesia Main Award 21
50 Strengthening the Digitalization of Banking, CIMB Niaga has Developed API 23
51 CIMB Niaga Motivates Youth to be the Catalysts for Change 24
52 The EGMS of CIMB Niaga Approves the Appointment of Dato’ Abdul Rahman Ahmad as Commissioner 25
53 Celebrating 65th Anniversary, CIMB Niaga Exclaims the Spirit of Giving Service to Indonesia 26
54 Spreading the Joy of 65 Years, CIMB Niaga Shares Inspirations # KejarMimpi Goes to Orphanage Mandalika 2020 28

No. Titles Dates

55 CIMB Niaga, The First Bank to Facilitate Payment via WeChat Pay in Indonesia 29
OCTOBER
56 OCTO Mobile CIMB Niaga Expedites Top-Up e-Wallet 1
57 CIMB Niaga Provides Convenience for Public to Invest in ORI 018 via OCTO Mobile 7
58 CIMB Niaga Earns The 2020 Liquidity Risk Technology Implementation of the Year Award from The Asian Banker 8
59 OCTO Mobile, the Digital Banking that Can ‘Do Many, Do Any’ 9
60 Scan QRIS OCTO Mobile Adds Value to Merchants and Customers 16
61 CIMB Niaga Improves Services to SME Customers Digitally 20
62 OCTO Mobile Offers Customer-Oriented Transaction Through a Complete Single Device Service 22
63 CIMB Niaga Distributes Scholarship Program for the Period of 2020-2022 23
64 CIMB Niaga Strengthens Safety Features of OCTO Mobile for Customers’ Peace of Mind 27
65 CIMB Niaga Syariah Drives Digital Transaction Through Haya Online Fest 2020 30
NOVEMBER
66 CIMB Niaga Reports Consolidated Net Profit of IDR1.9 Trillion for First Nine Months of 2020 6
67 Supporting Health Protocols, CIMB Niaga’s OCTO Vending Machines Dispense Protective Masks and Other Health Items 12
68 CIMB Niaga Holds Annual Public Expose for 2020 18
69 With Scan QRIS OCTO Mobile, Transactions Can be Converted to Installment Payments of 0% 27
70 Drive Financing, CIMB Niaga Syariah Optimizes the Motor X-TRA Program 30
DECEMBER
71 CIMB Niaga Syariah Strengthens Collaboration, Generating the Customer Spirit to Fight Pandemic 7
72 CIMB Niaga Syariah Partners with Cicilsewa, Introducing the SEWA X-TRA Program 8
73 Supporting Customers’ Year-end Transactions, CIMB Niaga Optimizes the Scan QRIS OCTO Mobile 20
74 Provide Convenience for Customers, CIMB Niaga Provide ATM Drive Thru at Rest Area KM 164, Cipali Toll Road 23
75 CIMB Niaga Optimizes Digital Banking to Serve Customers at Year-end. 28

GOODS AND SERVICES

PROCUREMENT POLICY
The Bank has a Goods and Services Procurement Policy 5. Labor and Human Rights, Vendors shall:
that was last updated in 2017. The policy is also supported a. Ensure that they have complied with all applicable
by Standard Operating Procedures (SOP) for Goods and labor laws and regulation;
Services Procurement that was approved in 2018 and still b. Ensure equal opportunity and treatment of their
valid as a reference. The goods and services procurement employees;
policy and SOP have become the main reference for all c. Respect the dignity and personal rights of their
procurement activities for goods and/or services carried employees;
out by the working units in the Bank, either Conventional d. Refrain from employing or forcing anyone to work
or Sharia Business Units. against their will.
BASIC PRINCIPLES OF GOODS AND SERVICES 6. Confidentiality and Protection of Bank and
PROCUREMENT Customer Data, Vendors shall:
1. Obtaining reliable and excellent supplier of goods a. Maintain the confidentiality of all data or
and/or services of the Bank effectively and efficiently. information received from the Bank, or known
2. Creating a fair, orderly and controlled competition by the Vendors, during and after the cooperation
climate by increasing transparency in the selection of ends, as stated in the cooperation agreement.
the goods and/or services suppliers. Vendors may not share such data and information
3. Selecting vendors based on GCG and Sustainability with third parties unless there is an official written
principles. agreement from the Bank;
4. Complying with the applicable taxation provisions b. Comply with all applicable laws, rules and
for every procurement of goods and/or services by regulations concerning confidentiality, banking
the Bank with vendors supplying the goods and/or confidentiality and protection of customers’
services. personal data;
c. In conditions where confidential Bank data or
VENDOR’S CODE OF ETHICS information must be known by the Vendors or
CIMB Niaga has established the requirements in a code other external parties, the Vendors must sign a
of ethics that must be met by the Vendors. Vendors must Confidentiality Agreement (NDA” – Non-Disclosure
comply with the Bank’s particular provisions as stated in Agreement) to protect the Bank’s information and
the cooperation agreement, including: interests as well as the its customers’ information
and interests with reference to the Information
1. Legal Compliance Security and Data Classification Policy. In cases
In compliance with prevailing laws and regulations; involving confidential or sensitive Information,
Data and Documents (IDD) that will be delivered
2. Corruption, Bribery or Illegal Payment to outside parties, it is mandatory to obtain
Vendors may not be involved in any form of evaluations and recommendations from the Legal
corruption or fraud or bribery, including payments or team and/or the BISO (BANK Information Security
other forms of benefits provided to any government Officer).
officials, civil servants or political parties for the
purpose of improperly influencing the decision 7. Employee Health and Safety
making; a. Vendors shall take all reasonable steps to ensure
the provision of comfortable and safe working
3. Gifts and Entertainment environment for their employees;
Vendors are prohibited from offering or giving gifts or b. Vendors shall take the necessary prevention
entertainment to Bank employees; measures against accidents or diseases in the
working environment.
4. Conflict of Interest
Vendors must provide information regarding any
potential conflict of interest, for example family
relationship, partnership, or relationship with Bank
employees;

8. Environmental Protection VENDOR DUE DILIGENCE

a. Vendors shall comply with all applicable In 2020, CIMB Niaga conducted a due diligence on the
environmental laws and regulations; vendors involved in the procurement of goods and
b. Vendors shall strive to minimize environmental services for the Bank, an annual evaluation process
pollution and to continually work to protect the comprising of:
environment from all types of pollution, as well 1. Vendor evaluation is the process of implementing
as from the destruction of the natural carbon due diligence on the existence and condition of a
deposits, habitat and ecosystems. prospective Vendor, which is conducted at the first
time the Bank intends to use the vendor services.
9. Fair Competition
a. Vendors may not discuss prices, procedures for 2. The Vendor Selection team conducts the following
distribution, product development, and plans or steps in Vendor evaluation:
activities carried out by the Vendor with other a. Receiving the proposal for New Vendor
competing Vendors; submission, which is done in writing using the
b. Vendors must comply with all applicable laws and form of a New Vendor Submission Form that has
regulations related to competition or anti-trust. been approved by the D2 Work Unit Officer who
submitted the proposal.
Vendors found to be in violation of the Vendor’s Code of b. Contacting the prospective Vendor to complete
Ethics will be placed on a Vendor Blacklist, and may face related documents and provide forms that must
termination of the ongoing cooperation. be completed, comprising:
i. Vendor Code of Ethics;
ELECTRONIC PROCUREMENT OF GOODS AND/ ii. List of Information from Vendor/Prospective
OR SERVICES (E-PROCUREMENT) Vendor containing a Sustainability Due
CIMB Niaga implements the electronic procurement Diligence (SDD) questionnaire, related to
process for goods and/or services through a web/ sustainability both from an economic, social
internet-based system by utilizing communication and and environmental perspective, as well as a
information technology facilities. This online service can statement of whether there is a relationship
be accessed by Vendors of goods and/or services for with the Bank’s employees;
vendor registration, tender/bidding, and goods and/or iii. Declaration related to company establishment
service billing processes. deed in the form of share ownership structure
and company board of directors;
The objectives of the e-procurement process are: iv. Statement of the appointment of a PIC to work
1. Increased transparency and accountability; with the Bank;
2. Increased efficiency of the procurement process; v. Declaration regarding any involvement in a
3. Facilitating the monitoring and audit process; litigation case.
4. Meeting the need for real-time information access as c. Request information of client(s) that have
well as equal information for all vendors involved in cooperated, or is currently cooperating, with the
the procurement process. Prospective Vendor.
3. Periodic assessments of Vendors providing goods
and/or services. The Partner Selection team will
make documentation of the results of the Vendor’s
performance appraisal carried out in random by
the team that carries out the procurement of goods
and/or services and the user’s work unit, using the
Vendor’s annual assessment form.
4. Evaluation of Vendor for the user in a project work,
can be followed up by providing an assessment of the
results of Vendor performance for each project that
has been completed.

EMPLOYEES CODE OF
ETHICS & CONDUCT
The Code of Ethics & Conduct serves as the guideline for 3. Competence
all employees of CIMB Niaga in accomplishing their daily Each employee must apply and develop his/her
tasks and activities as well as in dealing with customers, knowledge and skills that required to maintain the
suppliers and colleagues. The implementation of level of professionalism, including to upgrade and
Employees Code of Ethics & Conduct is one of the Bank’s refresh the skills and qualifications that are needed
commitments of corporate governance principles to consistently.
achieve Vision and Mission of the Bank.
4. Conflict of Interest
The Code of Ethics and Conduct sets forth standard Each employee must avoid any situation or condition
for ethical business and personal conduct and part of that could engender conflict of interest. If there are
the culture of the Bank in the implementation of Good circumstances that may affect the objectiveness of
Corporate Governance (GCG). The Code of Ethics and the employee’s state of mind, he/she should report
Conduct of CIMB Niaga is the foundation of employee’s this to the Bank.
attitudes and actions to work professionally and ethically
following the basic principles refer to the vision, mission 5. Fairness
and core values of the Bank, as well as the prevailing Each employee must act in accountable manner and
internal and external regulations. espouse the culture of fairness and transparency in
every interaction with all stakeholders. Employee
THE CODE OF ETHICS & CONDUCT PURPOSE is required to act fairly and in accordance with the
The purposes of the Code of Ethics & Conduct are as business ethics as well as the prevailing laws and
follows: regulations, whether in terms of the internal policies
• Guide the formulation of policies, procedures and of the Bank or those of regulators. In addition,
management practices of the Bank. employee is prohibited from acting in contravention
• Define the rules of norms, action and responsibility to prevailing laws and regulations.
of employee and those working on behalf and in the
name of the Bank to work professionally and ethically. 6. Mutual Respect
• Serve as the basic guideline for the attitude and The Bank shall treat each employee with fairness,
behavior at work and decision-making. respect and appreciation. It therefore expects all
• Provide for an understanding of employee norms employees to behave honestly, to uphold integrity
in engaging cordially with the Bank, colleagues, and be respectful of one another in order to maintain
customers, regulators, suppliers and public. good relations.
• Ensure common and consistent attitude and conduct
of employees in their daily operational activities. Those 6 (six) ethical principles shall serve as the basis for
every employee to interact professionally in carrying out
THE CODE OF ETHICS & CONDUCT their daily tasks.
PRINCIPLES/CONTENTS
CIMB Niaga’s Code of Ethics & Conduct describes 6 (six) In addition, the contents of the Code of Ethics & Conduct
ethical principles comprising as follows: of CIMB Niaga also govern as the guideline and reference
that each employee must adhere to in his/her interactions
1. Integrity with all stakeholders. The main provisions of the Code of
Each employee has to preserve integrity by being Ethics & Conduct are as follows:
honest, respectful of one another, and professional. 1. Anti-bribery and corruption;
2. Prohibition to conduct insider trading;
2. Confidentiality 3. Anti-fraud;
Each employee must protect the confidentiality 4. Provision in managing conflicts of interests;
of information entrusted to him/her, including 5. Provision on no gift policy;
customer’s data and information only for the purpose 6. Provision on external employment and financial
intended by the Bank. The disclosure of information interest;
can only be done in line with the policies of the Bank 7. Provision on whistleblowing;
and pursuant to prevailing laws and regulations.

8. Provision on the custody and confidentiality of THE CODE OF ETHICS & CONDUCT
customers, Bank and other stakeholders’ data; DISSEMINATION/SOCIALIZATION
9. Provision on the use of Bank assets; The Code of Ethics & Conduct of CIMB Niaga is
10. Provision on the use of social media; continuously communicated and disseminated to the
11. Prohibition on personal dealings with customer; Board of Commissioners and its committees, the Board
12. Provision on customer complaints handling; of Directors and its Senior Executive subordinates, as well
13. Compliance and reporting to regulators; as all employees of the Bank, to increase the awareness
14. Provision on anti-money laundering policy; and understanding in order to implement behaviour in
15. Provision on anti-competition policy; accordance with the core values of the Bank.
16. Provision on Sustainability culture;
17. Provision on Corporate Social Responsibility culture. The Bank periodically conducts socialization through
various media. Each year, all employees are required
STATEMENT OF THE CODE OF ETHICS & to attest to their commitments in applying the Code
CONDUCT APPLIES TO ALL LEVELS OF THE of Ethics & Conduct. To increase the understanding of
ORGANIZATION employees of the Code of Ethics & Conduct, the Bank has
The Code of Ethics & Conduct of CIMB Niaga serves as the made online guidelines and learning materials through
standard bearer of behavior that must be adhered to by all the Learning on the Go (LoG) application. In addition, the
CIMB Niaga employees in carrying out business activities, Code of Ethics & Conduct of CIMB Niaga is also uploaded
including when interacting with all stakeholders. As such, on the internal web of the Bank (e-Manual) to make it
the Bank expects all personnel to abide by the Code of easily accessible by employees.
Ethics & Conduct including members of the Board of
Directors and Board of Commissioners. THE CODE OF ETHICS & CONDUCT
MONITORING
All employees of CIMB Niaga are obligated to learn and CIMB Niaga continuously monitors the implementation
fully understand the contents of the policy and make of the Code of Ethics & Conduct and strictly imposes
an attestation each year. The application of the Code sanctions to employees breaching the provisions. CIMB
of Ethics & Conduct become the responsibility of all Niaga provides 2 (two) reporting channels:
employees at all levels of the organization, and one of the 1. Communication channels managed internally by
commitments of the Bank in the implementation of Good CIMB Niaga through:
Corporate Governance to achieve its vision and mission. a. Email: ayo.lapor@cimbniaga.co.id
b. Phone & SMS: 087829652767 (0878 AYO LAPOR)
On 9 April 2020, the members of the Board of 2. Communication channels managed by PT Deloitte
Commissioners and Board of Directors of CIMB Niaga Advis Indonesia as the independent third party
have signed the Declaration of Integrity Pact, Code of assigned to manage the Bank’s whistleblowing
Ethics & Anti-Corruption Commitments. The declaration reports, through:
has been disclosed to the public through the CIMB a. Website: https://ayolapor.tipoffs.info
Niaga’s website. Subsequently, the commitment has b. Email: ayolapor@tipoffs.info
been followed up at all levels of the organization through c. Phone: 14031
the mandatory attestation of the Declaration of Integrity d. SMS & WA: +62 822 11356363
Pact, Code of Ethics & Anti-Corruption Commitments e. Facsimile: +62 21 2856 5231
by all employees, both permanent and non-permanent f. Mail: Ayo Lapor PO BOX 3331 JKP 10033
employees.

POLICY ON DISCIPLINE ENFORCEMENT AND For the violations of Code of Ethics and Conduct,
SANCTIONS IMPOSED FOR VIOLATIONS sanctions that can be imposed are as follows:
The provisions of the sanctions to be imposed for 1. Coaching
violations conducted by employee is governed in the 2. Reprimand Letter
Disciplinary Enforcement and Sanctions for Breach 3. First Warning Letter (SP 1)
Policy No. A.11.02. This policy also defines among other 4. Second Warning Letter (SP 2)
things the roles and responsibilities of direct supervisors 5. Third Warning Letter (SP 3)
and unit heads, the duties and responsibilities of 6. Termination of Employment
relevant units in handling the violations, and the duties
and responsibilities of the Disciplinary Committee in DATA ON EMPLOYEE VIOLATIONS IN 2020
determining either the coaching or sanctioning for
employees who commit violations. Category and Number of Violations in 2020
In 2020, there were 228 employees who received
Coaching or sanction imposed to the employee are sanctions, as follows:
adjusted based on the severity of the violation, starting
166
from a reprimand, written warning letter, to termination
of employment. To assure objectivity, sanctions for
each level of severity is determined by the Disciplinary
Committee based on the prevailing rules.
29
15 18
Fraud Indiscipline Negligence Non Compliance
Trend of Code of Ethics & Conduct Implementation in 2019 and 2020
=
166 166
49
29
18
2019
10 15
1
2020
Fraud Indiscipline Negligence Non-Compliance
Number & Type of Sanctions on Employee Transgression in 2019 and 2020
87
77
69
50
45
33
29
19 22
15 2019
2 5
1 0 2020
Termination of First Warning Second Warning Third Warning Reprimand Letter Blacklist Coaching
Employment Letter Letter Letter

CORPORATE CULTURE
Corporate culture is the shared principles, values, beliefs Throughout 2020, by implementing a culture of
and norms that characterize the company/bank and responsiveness to change (Agility) during pandemic, the
provides general frame of reference for employees in process of implementing CIMB Niaga’s Core Values is
their conduct and interactions within the company. carried out through a variety of virtual activities, including:
CIMB Niaga emphasizes the importance of internalizing • Organizing corporate culture orientation programs
the Bank’s Core Values as a basic principle in interacting for new employees directly (before the pandemic)
with fellow employees and customers as well as being and through virtual media. Internalization of the
the basis for behavior in the workplace. CIMB Niaga also Bank’s Core Values and Corporate Culture is launched
consistently upholds and implements the Bank’s Core through digitization and gamification, which is
Values at all levels of the organization. CIMB Niaga’s Core accessible from gadgets through the Learning on the
Values are known as “CHIDA”, which consists of: Go (LOG) apps, so that the process of internalizing the
Bank’s culture and core values is no longer bound by
Customer Obsessed time and place.
We are here for our customers, to ensure they’re happy
and satisfied. • Carrying out Corporate Culture campaigns through
activities with particular themes related to the
High Performance implementation of the Bank’s corporate culture,
We always strive to go above and beyond in everything launched virtually every week through a program
we do. called Anti Mati Gaya (AMG). In its implementation,
the AMG program consist of five pillars, namely:
Integrity
We’re always honest, responsible and accountable in 1. Mental Health
everything we do. Be vigilant, be alert, be thorough. The Bank put attention to mental health of
employees through various initiatives such as
Diversity and Inclusion organizing sharing sessions with professional
We believe everyone has something to contribute, psychologists with different theme every
regardless of race, gender or opinions. month. In addition, CIMB Niaga also provides a
psychological consultation platform called the
Agility ‘AMG Ruang Cerita’ for all employees, which can
We must respond quickly to change and be problem be accessed via email or video conference on
solvers. workdays.
The five Core Values of the Bank are manifested through 2. Physical Health
the 3 (three) Critical Behaviors that must be carried out Through this pillar, the Bank provides education
consistently by every employee, in their daily work and and information on the importance of maintaining
interactions, namely: employees’ physical health, including inviting
employees to compete in regular, thematic virtual
1. Go the extra-mile to delight customers. sports activities.
2. Respect each other, engage openly and work
together. 3. Hobbies
3. Recognise each other’s efforts and always back Facilitating employee’s hobby and activities in
each other up. the form of sharing sessions and tutorials on
various topics include cooking, book review, as
CIMB Niaga believes that the 3 (three) Critical Behaviors well as entertainment activities and organize
above can be the main catalyst in accelerating the Bank hobby community among employees such as
towards a better path, supporting excellent customer cycling, running, healthy walking, and other sports
service and increasing effectiveness of cooperation activities.
between employees to create synergy between
individuals, units or functions.

4. Sharing Session • Facilitating employees’ ideas through the OPeRA

The sharing of knowledge and skills, aims to Innovation. Through this program, CIMB Niaga foster
provide development for employees such as in a culture of innovation and continuous improvement
financial management, emotional intelligence, to the employees, while still paying attention to the
and digital awareness. 5 (Five) Core Values of the Bank and the 3 (Three)
Critical Behaviors, in designing their ideas. OPeRA
5. Competitions and Other Activities Innovation is a regular competition followed by
Build affection among employees through virtual development activities for employees to gather
competitions that are casual and fun, including: innovative ideas and initiatives that have a positive
Live Quiz, Regular Quiz, video competitions, and impact on the Bank’s operations and improve service
photo competitions through social media. quality to customers.
In addition, CIMB Niaga intensively and continuously

The AMG program is designed based on employees’ carries out initiatives to improve risk awareness culture
feedback, aims to increase awareness of the Bank’s and compliance through various programs such as
Corporate Culture and Core Values as well as to campaigns, Communication through various media,
increase engagement and collaboration among joint discussion program discussing risk and compliance
employees. related issues including discussion of case studies, as well
as internal and external certification for all employees
through various learning media such as in classroom,
digital, and other learning media.
FUNDING FOR SOCIAL

AND POLITICAL ACTIVITIES
CIMB Niaga provides funds in support of social activities In the political realms, the Bank did not provide funding
through the Corporate Social and Responsibility (CSR) for political activities or political parties throughout the
programs. Through the CSR programs and activities, year of 2020. The Bank openly allows employees to
CIMB Niaga aim to contribute in creating positive impact express their aspirations in political events. However, the
on the environment and social aspects of communities in Code of Ethics and Conduct of the Bank, as well as the
which the Bank operates, sustainably over the long term. Bank Employment Policies on Extracurricular Activities
A detailed narrative on the CSR activities of the Bank in Related to Political Organizations or Political Activities
2020 is provided in the “Corporate Social Responsibility’ regulates restrictions regarding the involvement of the
section and the 2020 Sustainability Report as an integral Bank and its employees in political activities to avoid
part of this Annual Report. conflict of interests, including but not limited to the
prohibition of the Bank to make political donations. This
policy is adopted in order to maintain the independency
and professionalism of the Bank and its employees.

TRANSPARENCY OF THE BANK’S FINANCIAL AND

NON-FINANCIAL CONDITIONS
The Bank meets the obligation governing transparency the Bank has accordingly submitted its Annual
and publication of its financial and non-financial Reports to OJK and its shareholders.
conditions stipulated in prevailing rules and regulations, e. The Annual Reports (financial and non-financial)
through the submission and publication of information and Monthly Published Financial Reports,
in the printed media and on the Bank’s website. Quarterly Published Financial Reports, Annual
Published Financial Reports and Consolidated
TRANSPARENCY OF THE BANK’S FINANCIAL Published Financial Reports have been published
CONDITIONS on the Bank’s website (www. cimbniaga.co.id) and
1. Monthly Financial Reports have been submitted to published in Indonesian language newspapers
regulators in accordance with stipulated provisions with national circulation.
and due dates. The Monthly Financial Reports were 4. The Quarterly and Annual Published Risk Exposure
also published in the Bank’s website as required. and Capital Reports have been made public in
2. Quarterly Financial Reports have been submitted to accordance with OJK Regulation, through the Bank’s
regulators in accordance with stipulated provisions website.
and due dates. The Quarterly Financial Reports
were also published in the Bank’s website as well as TRANSPARENCY OF THE BANK’S NON-
in Indonesian language newspapers with national FINANCIAL CONDITIONS
circulation, even though based on POJK No.37/ CIMB Niaga’s Non-Financial transparency information
POJK.03/2019, publication in newspapers is no longer includes the following:
a mandatory requirement. 1. Information on Corporate Governance, including the
3. CIMB Niaga’s Annual Report was prepared and Annual Report, Corporate Governance, Corporate
presented according to all applicable provisions, Vision, Mission and Values, Composition and
submitted to regulators, rating agencies, banking Profiles of the Board of Commissioners, Sharia
development institutions, research institutions and Supervisory Board, Board of Directors, and Board
financial magazines, and published in the Banks’ website. of Commissioners Committees, as well as internal
a. Financial highlights including stock highlights, policies pertaining to Corporate Governance including
report from the Board of Commissioners, report the Articles of Association and Committee Charters,
from the Board of Directors, company profile, are also published on CIMB Niaga’s website.
management analysis and discussion on business 2. Information on Bank’s products and services, including
and financial performance, corporate governance the office network, are published in the Annual
and corporate social responsibility. Report as well as in leaflets, brochures and other
b. Annual Financial Statements that have been printed materials available in each branch office, or
audited by Public Accountant and Public in the form of electronic information on CIMB Niaga’s
Accountant Firm registered with OJK. The Annual website, or via the Bank’s hotline service, providing
Financial Statements is prepared for 1 (one) customers, investors and the general public with easy
Financial Year and is presented with a comparison access to information on the Bank’s products and
to the previous 2 (two) financial years. services.
c. Statement of responsibility of the Board of 3. Information on Procedures for Complaint Submission
Commissioners and Board of Directors for the and publication reports published on CIMB Niaga’s
accuracy of the contents of the Annual Report. website in compliance with consumer protection
The statement was stated in a statement page regulations.
bearing the signature of all members of the Board 4. Information on ownership structure in the Annual
of Commissioners and Board of Directors. Report and CIMB Niaga’s website.
d. In accordance with OJK Regulation No. 37/ 5. Important and relevant material information or
POJK.03/2019 dated 19 December 2019 facts regarding events, incidents or facts that
on Transparency and Publication of Bank may influence the decisions of interested parties
Reports, which replaced OJK Regulation No. 32/ regarding such information or facts, are published to
POJK.03/2016 dated 8 August 2016 on Amendment the general public via the websites of CIMB Niaga and
to OJK Regulation No. 6/POJK.03/2015 and OJK the Indonesia Stock Exchange.
Regulation No. 29/POJK.04/2016 concerning 6. Other information for the purposes of information
Annual Reports of Issuers or Public Companies, disclosure, financial education, and public service.

SHARES AND BONDS BUYBACK

OF CIMB NIAGA
In 2020, the Bank conducted a share buyback of 2019, the Bank conducted a share buyback of 3,724,900
3,486,600 (full amount) shares at an average price per (full amount) shares at an average price per share of
share of Rp684.51 (full amount), for a total proceeds of Rp1,057.52 (full amount), for a total proceeds of Rp3,954
Rp2,387 million (including commission fees and taxes). million (including commission fees and taxes). For the
The Bank planned to transfer the shares acquired from buyback of shares in 2019, the Bank has granted shares
the share buyback to certain management and staff from treasury shares to its employees amounted to
personnel that met the criteria of Material Risk Taker 1,241,633 (full amount) shares during 2020.
(MRT) as established by the Bank in accordance with
the provisions of POJK No. 45/POJK.03/2015 regarding During 2019 and 2020, the Bank did not conduct any
Implementation of Governance in the Provision of buyback of bonds that were previously issued by the
Remuneration in Commercial Banks. Meanwhile, in Bank.
DIVIDEND POLICY
Further information related to Dividend Policy is available in the Management Discussion and Analysis section of this
Annual Report.
CONFLICT MANAGEMENT POLICY

(INCLUDING INSIDER TRADING)
Conflict Management Policy aims to establish policies, This Blackout period must be announced to all
identify, avoid, and manage any potential conflicts of employees by the Control Room of the Bank (Corporate
interest that may arise within the Bank or the CIMB Affairs Group), and conveyed to the Control Room of
Group as a result of the activity by a business unit of the CIMB Group. Any employee or Management who
the Bank that receives information about the Bank, the wants to trade the Securities of the Bank and those
Bank’s customers, or the CIMB Group. of the CIMB Group (outside of the Blackout period) is
required to obtain prior written approval from the Bank’s
The Bank has this policy to regulate the trading Control Room (Corporate Affairs Unit) no later than 2
procedures on the securities of the Bank and those of (two) working days prior to the planned transaction, and
the CIMB Group and to reaffirm the prohibition of Insider from the CIMB Group Control Room by completing the
Trading in the private securities trading by the employees employee transaction request form.
and management (in this case the members of the Board
of Directors and Board of Commissioners). Specifically, Also, if an employee and/or Management has conducted
for certain periods, this Policy also regulates the Blackout a transaction, a notification to the Bank’s Control Room
period in which all employees and Management are (Corporate Affairs unit) is required no later than 2 (two)
prohibited from conducting any transaction of the Bank’s working days after the transaction occurred. This policy
Securities. is expected to mitigate the use of insider information for
the personal interest of employees and/or Management
(insiders).

PROTECTION OF CREDITOR’S RIGHTS
In the efforts to ensure the rights of creditors and maintain relevant information according to their needs, enabling
the trust of creditors, CIMB Niaga has established Policy the respective parties to make informed decision based
of Fulfilment of Creditor Rights No. M.05 that is used as on fair, reasonable and accurate considerations.
the guidelines when receiving loans from creditors, and
had been uploaded in the Bank’s website.
Furthermore, CIMB Niaga also assures that the creditor’s
CIMB Niaga applies a transparent and honest information rights are carried out properly, as provided for in
disclosure system on an equal treatment basis for all the agreement signed by the concerned parties, and
creditors without any discrimination to protect the endeavors to meet the Bank’s obligation as agreed upon
creditor’s rights. With this transparent disclosure, all on timely basis to avoid delays or negligence that could
creditors and business partners of the Bank can obtain the result in financial losses to the parties thereof.
PROVISION OF FUNDS
TO RELATED PARTIES
POLICY in the Audit Committee Charter. Further, the Bank shall
The provision of funds to related parties of the Bank report such transactions to the OJK and conduct an
(Commissioners, Directors, Executive Officers, and other information disclosure to the public, as regulated by POJK
related or affiliated parties of the Bank) shall be conducted No. 42/POJK.04/2020 regarding Affiliated and Conflict
on an arm’s length basis with regard to applicable credit of Interest Transactions and POJK No. 17/POJK.04/2020
policies and procedures, including the Commercial Credit regarding Material Transaction and Change of Business
Policy and the Consumer Credit Policy. Activity.
PROCEDURES Throughout 2020, there were no violations or excess of

The provision of funds to related parties shall require the Legal Lending Limit (LLL) in the provision of funds to
prior approval of the Board of Commissioners of the Bank. the Bank’s related parties.
This refers to OJK Regulation (POJK) No.32/POJK.03/2018
regarding Legal Lending Limit and Provision of Large DISCLOSURE
Funds for Commercial Banks as well as to the Bank’s Throughout 2020, the Bank did not engage in any
internal policies. material transactions with affiliated parties with a
potential conflict of interest. Detailed information on the
Material transactions with affiliated parties, as well as provision of funds to related party regarding the nature
transactions with the potential to cause a conflict of of relation, type of transaction and value of transaction,
interest with the Bank, shall also require the approval have been disclosed in the Notes of the Consolidated
of the Board of Commissioners, after first receiving a Financial Statements, which is part of this Annual Report.
recommendation from the Audit Committee as stipulated

CUSTOMER PROTECTION
POLICY
Pursuant to OJK Regulation No. 1/POJK.07/2013 on the developed to measure the customer satisfaction on
Consumer Protection in the Financial Services Sector, CIMB Niaga’s internal processes, enriching the Voice-
OJK Regulation No. 18/POJK.07/2018 on Consumer of-Customer (VoC), and to amplify customer insights
Complaints Handling in the Financial Services Sector, holistically. As a manifestation of Bank’s focus on
and OJK Circular Letter No. 17/SEOJK.07/2018 on customer protection, the NPS surveys have consistently
the Guidelines for the Implementation of Consumer shown improving results from 2017 until 2020, indicating
Complaints Handling in the Financial Services Sector, the increasing satisfaction of customers over the Bank’s
CIMB Niaga constantly endeavors to protect the interest products and services.
of customers and provide the best banking services.
CIMB Niaga continues to apply various improvements
At CIMB Niaga, customers are the Bank’s first priority in providing differentiated and exceptional banking
and an integral part of the Bank’s policy. As such, CIMB experience. In 2020, a new feature was introduced to
Niaga strives continuously to enhance the customer the Customer Relationship Management (CRM) system, a
experience. To that end, the bank has elevated the role service module platform than provides seamless, end-to-
of its Customer Care Unit (CCU), which is responsible to end service to both individual and corporate customers.
respond to customer complaints on the Bank’s products The platform enables front-liners to understand the
and services. The CCU has consistently improved the customer’s profile better with the availability of more
quality in resolving customer complaints through comprehensive information, helping them to serve the
periodical evaluation, and thereby enhanced and customers better in more personalized ways. This system
expedited the management of customer complaints. In will be enhanced continuously, in line with the dynamic
2020, the Bank resolved 94% of all customer complaints in needs of the customer.
within the timeline. CIMB Niaga also actively participated
in the Banking Mediation Working Group in cooperation The passion of CIMB Niaga to adopt a bank-wide
with Bank Indonesia and OJK as well as with other banks customer-oriented culture does not stop with the
to undertake an education program for bank customers, process improvements or system developments. In 2020,
in the form of seminars and other forums. CIMB also strengthened its Customer Obsession culture
through a series of training, consistent communications,
In addition to that, the Bank operates a Customer and recognitions for employees who place the customer
Experience Unit as a special working unit that manages in their hearts in every activity. Through the internalization
the customer experience. In 2020, Customer Experience of this Customer Obsession culture, the Bank expects
focused on creating the framework for continuous to enhance the service experience that is felt by the
improvements through a measurement of Net Promoter customers, thereby increasing their satisfaction and
Score (NPS) as a key metric that represents the voice loyalty towards the CIMB Niaga brand.
of customer. This framework has been consistently
Net Promotor Score (NPS) Results
Year NPS Score

2020 +24%
2019 +18%
2018 +16%
2017 +5%

Total Complaints and Resolutions Percentage
Year Total Complaints Resolved Complaints Resolutions Percentage

2020 56,318 55,507 99%
2019 64,615 64,050 99%
2018 61,628 60,470 98%
Complaints Type, Number and Resolutions
2020 2019 2018

Type of Complaints
Total Complaints Resolved Complaints Total Complaints Resolved Complaints Total Complaints Resolved Complaints
Financial 42,205 41,522 48,627 64,615 48,790 48,426
Non-Financial 14,113 13,985 15,988 15,646 12,838 12,044
- Quality of Service 146 140 458 349 300 168
- Others 13,967 13,845 15,530 15,646 12,538 11,876
Total 56,318 55,507 64,615 15,646 61,628 60,470
COMPLAINTS HANDLING IN 2020

Pursuant to OJK Circular Letter No. 17/SEOJK.07/2018 on the Guidelines for the Implementation of Consumer Complaints
Handling in the Financial Services Sector, the Bank published the complaints handled by the Bank at least once a year
in the Bank’s Annual Report and website, as shown in the following table.
Resolved In Process Unresolved Total

Type of Financial Transaction
Total % Total % Total % Complaints
Bancassurance 18 90.00% 2 10.00% - 0.00% 20

Deposit 119 95.97% 5 4.03% - 0.00% 124
Direct Debit 56 93.33% 4 6.67% - 0.00% 60
Electronic Banking 24,264 98.82% 290 1.18% - 0.00% 24,554
ATM/Debit Card/ATM Machine 28,346 98.62% 396 1.38% - 0.00% 28,742
Credit Card 1,050 98.41% 17 1.59% - 0.00% 1,067
Clearing (Transfer)/Remittance 33 84.62% 6 15.38% - 0.00% 39
Unsecured Loan 166 96.51% 6 3.49% - 0.00% 172
Vehicle Loan/Financing 9 100.00% - 0.00% - 0.00% 9
Working Capital Loan/Financing - 0.00% - 0.00% - 0.00% -
Home/Apartment Mortgage/ 105 84.00% 20 16.00% - 0.00% 125
Financing
Other Funding 117 95.90% 5 4.10% - 0.00% 122
Savings 1,213 97.35% 33 2.65% - 0.00% 1,246
Trade Finance/Letter of Credit - 0.00% - 0.00% - 0.00% -
Mutual Funds 6 35.29% 11 64.71% - 0.00% 17
Wealth Management 5 23.81% 16 76.19% - 0.00% 21
Total 55,507 98.56% 811 1.44% - 0.00% 56,318

INTERNAL FRAUD
ANTI-FRAUD POLICY During the COVID-19 pandemic, all anti-fraud awareness

CIMB Niaga’s Anti-Fraud Policy is part of the Bank’s risk training programs and sharing sessions were conducted
management and internal control system with regard to virtually using the Webex application, as well as internal
the development of a compliance culture and the creation digital communication media, in the form of email blasts,
of risk awareness on the potential and consequences of digital magazine e-Portrait, and interfaces on computer
fraud at all levels within the organization. With reference monitors or wallpapers for socialization and campaign.
to POJK No. 39/POJK.03/2019 on Implementation of
Anti-Fraud Strategy for Commercial Banks, CIMB Niaga’s ANTI-FRAUD AWARENESS TRAINING
Anti-Fraud Policy regulates the framework, governance On an ongoing basis, CIMB Niaga also held mandatory
and implementation of the anti-fraud strategy, and Anti-Fraud Awareness training for new and existing
represents the Bank’s strategy for controlling fraud employees aimed at increasing employee knowledge
by taking into account the characteristics and scope of about the prevention and consequences of fraud. During
potential fraud and has been implemented in the fraud 2020, the anti-fraud training program is implemented
control system. The Anti-Fraud Policy has been covered using 3 methods, namely:
in the section on Risk Management in this Annual Report. • Anti-fraud awareness training program that aims to
provide a general understanding of fraud risks and
In 2020, as part of efforts to increase awareness of the their prevention as well as to grow and enhance
risk of fraud as well as the implementation of active the implementation of an anti-fraud culture for all
supervision by the Board of Directors and Board of employees and leaders under the Directorate of Risk
Commissioners, the Board of Directors and Board of Management, Sharia, Finance & SPAPM
Commissioners have signed the Integrity Pact, the • Refreshment & sharing session in anti fraud
Code of Conduct, and the Anti-Corruption Commitment awareness which aims to remind the importance of
statements on 9 April 2020, subsequently published for maintaining integrity and group discussions on the
public access in CIMB Niaga’s website. implementation of control, a culture of integrity and
speak up for employees who are under the Consumer
Further, all employees, both permanent employees and Banking Directorate.
non-permanent employees, are also required to annually • Fraud Precaution for Business Banking in the form
attest to the Integrity Pact, Code of Conduct and Anti- of training and debriefing for Business Banking
Corruption Commitment. In addition, CIMB Niaga also employees related to techniques for detecting fraud
holds several activities and programs related to anti- documents in the credit process (applied skills).
fraud awareness including the following:
• Tone from the Top - in the form of active participation Throughout 2020, 3,554 employees have participated
from the Board of Directors with attendance at in face-to-face as well as virtual sessions of anti-fraud
the socialization program of anti-fraud awareness awareness training.
and speak-up culture during mandatory training
Number of employees participated in the
programs, sharing sessions, and other anti-fraud
anti-fraud awareness mandatory training
campaigns.
4,212
• Mandatory training provided on an ongoing basis
3,554
for all employees, both new and existing employees,
either in face-to-face sessions, virtual meetings or 2,829
e-Learning platform.
• Training and sharing sessions initiated by Business/
Supporting Units and HR Learning.
• Anti-fraud awareness dissemination to internal
employees through internal communication media
via HR Info email blast, E-Portrait digital magazine, as 2018 2019 2020
well as desktop wallpaper on employee PCs/laptops.
• Education for the customers on anti-fraud awareness,
conveyed through social media and email blasts to These activities and programs are expected to increase
customers, to remind them to be cautious in carrying anti-fraud awareness, Speak Up and compliance culture
out their transactions. at all levels of the Bank’s organization. Likewise with the

Speak Up culture, where several fraud cases that occurred in 2020 were a follow-up to reports submitted through the
media whistleblowing system and several employees have been subject to sanctions related to cases reported through
the whistleblowing system.
The following table provides information regarding data on fraud violations with a nominal value exceeding
Rp100,000,000 (one hundred million Rupiah) committed by management, as well as permanent and non-permanent
employees. The related nominal does not take into account the recovery obtained in the effort to save the Bank’s assets.
DATA OF INTERNAL FRAUD EXCEEDING RP100 MILLION
Total Cases Commited by

Board of Commissioners and
Internal Fraud Case Permanent Employees Non-Permanent Employees
Board of Directors
2020 2019 2020 2019 2020 2019
Resolved - - 3 4 - -
In the process of Internal resolution - - 3 - - -
Unresolved - - - - - -
Has been followed up in Legal - - - 1 - -
Process
Total Fraud - - 6 5 - -
WHISTLEBLOWING SYSTEM
CIMB Niaga is fully committed to implement the and in all aspects of its business activities. The
principles of Good Corporate Governance (GCG) in Whistleblowing System (WBS) policy of CIMB Niaga are
all aspects of its operations in order to realize and pursuant to OJK Regulation No. 39/POJK.03/2019 on the
achieve the Bank’s vision and mission. As part of this Implementation of Anti-Fraud Strategy by a Commercial
commitment, the implementation of the Whistleblowing Bank.
System of CIMB Niaga is a key element in the protection
and enhancement of the Bank’s transparency as well as The Bank has, since 4 December 2017, appointed
to counter practices that could damage the operations PT Deloitte Advis Indonesia (a.k.a PT Deloitte Konsultan
and reputation of the Bank. Indonesia) as the third party to handle the whistleblowing
reports. The appointment of a third party in the
CIMB Niaga has established and implemented policy on Whistleblowing System of CIMB Niaga is to ensure that
whistleblowing system since 2011, and has continuously reports on irregular activities are handled professionally
made improvements in both its reporting mechanism as and independently, enabling all parties, whether
well as awareness for the reporting medium. CIMB Niaga internal or external, to submit their reports freely and
undertakes the policy on whistleblowing comprehensively comfortably, without any hesitation.

MECHANISM OF THE WHISTLEBLOWING SYSTEM AT CIMB NIAGA – DELOITTE
WHISTLE BLOWER INDEPENDENT CIMB NIAGA

& PROFESIONAL
THIRD PARTY
1. Type of Violation: 1. Receives the report from the 1. Receives the report from
a. Fraud Indications whistleblower Deloitte
b. Anti Money Laundering 2. Confirms with the 2. Ascertain the validity of the
c. Code of Ethics whistleblower whether to report
2. Include evidence (if exists) disclose his/her identity to 3. All communications with the
3. The whistleblower has the right CIMB Niaga or not. whistleblower is carried out
whether to disclose his/her 3. Sends the report to CIMB Niaga through DELOITTE, except
identity or not to CIMB Niaga WITHOUT the identity of the where the whistleblower
whistleblower, UNLESS he/she chooses to disclose his/her
chooses to disclose identity to identity
CIMB Niaga 4. Follow-up on the report by
4. Liaises the communication investigating the allegation
between CIMB Niaga and the further
whistleblower in the case where 5. Present the result of the
identity is not disclosed. investigation (Proven/Not
Proven) to the whistleblower
through Deloitte
WHISTLEBLOWING REPORTING CHANNEL PT Deloitte Advis Indonesia. Whereas reports that are
CIMB Niaga’s Whistleblowing System provides 2 (two) received through the phone/SMS to 087829652767 (0878
channels both for internal and external parties to submit AYO LAPOR) or allegations that are conveyed directly to
the whistleblowing report: Bank Officers/Regulators will also be registered in the
1. Communication channels managed internally by E-mail managed by PT Deloitte Advis Indonesia. This is
CIMB Niaga: aimed to maintain a centralized administration system
a. E-mail : ayo.lapor@cimbniaga.co.id while also maintanaining the confidentiality principle of
b. Phone or SMS : 087829652767 the whistleblower.
(0878 AYO LAPOR)
2. Communication channels managed by PT Deloitte WHISTLEBLOWER PROTECTION
Advis Indonesia: CIMB Niaga extends the rights of the whistleblower by not
a. Website : https://ayolapor.tipoffs.info requiring them to disclose his/her identity or to provide
b. E-mail : ayolapor@tipoffs.info evidence for the allegations. However, whistleblowers
c. Phone : 14031 are encouraged to submit data, information or an early
d. SMS & WA : +62 822 11356363 indication about the violation. Each whistleblower are
e. Facsimile : +62 21 2856 5231 required to have a strong reasons for their allegation
f. Mail : Ayo Lapor PO BOX 3331 or potential allegation, and should always file their
JKP 10033 whistleblowing report in good faith.
To optimize the function of the Whistleblowing System, The Bank assures protection of the whistleblower by
all reports submitted to our internal e-Mail will be guarantees the confidentiality of the whistleblower’s
automatically forwarded to the e-Mail managed by identity, and protects the whistleblower at the time

of reporting and throughout the investigation by the PERSONS IN CHARGE OF WHISTLEBLOWING

investigation unit, as stipulated for in the internal policies Based on the internal policies of the Bank, the persons
of the Bank. To ensure the confidentiality, for those appointed to manage whistleblowing include:
whistleblowers who choose to disclose their name/
identity/e-Mail/telephone number, PT Deloitte Advis 1. The person in charge of Whistleblowing System of
Indonesia could only disclose such information only at CIMB Niaga is the Compliance Director with the main
the discretion of the whistleblower. duties and responsibilities of supervising the process
of the whistleblowing reports handling to ensure
WHISTLEBLOWING REPORT HANDLING the compliance with the relevant procedures and
Every information submitted by the whistleblower regulations.
shall be treated as confidential information. The
Whistleblowing Officer will analyse all received reports 2. The Whistleblowing Coordinator of CIMB Niaga
in accordance with the basic principles of whistleblowing is the Anti-Fraud Management unit, in which the
management. For the reports discloses the identity and D-1 Officer in charge of Anti-Fraud Management is
contact number of the whistleblower, when deemed also appointed as coordinator of the whistleblowing
necessary, the Whistleblowing Officer could contact the handling at CIMB Niaga.
whistleblower to obtain more information pertinent to
the allegation. However, in the event the whistleblower 3. The Whistleblowing Coordinator Unit comprises
chooses not to disclose his/her contact number/email, of D-1 officers in charge of Anti-Fraud Management
whenever the Bank should require more information (AFM), Anti Money Laundering (AML) and Human
from the whistleblower, the Bank shall contact the Resources (HR) in line with the scope/type of reports
whistleblower through PT Deloitte Advis Indonesia. within the Whistleblowing System.
Type of violations that are covered within the scope of The Whistleblowing Coordinator Unit has the
the whistleblowing policy are concerning to fraud, money authority to approve or decide whether the report
laundering and human resources. If the initial information can proceed into investigation, is invalid, be closed
is deemed sufficient to warrant an investigation, steps or re-opened should there additional information on
will be taken to ascertain the validity or invalidity of the the report is discovered.
report. However, if the report falls outside of the scope
of the whistleblowing system mentioned above, the 4. The Whistleblowing Officers are employees from
Whistleblowing Officer will then simply refer the matter the AFM, AML and HR units who has been appointed
to the relevant parties or unit for further follow-up. to manage the whistleblowing reports related to
the respective categories. The main duties and
The whistleblower will receive updates on the status responsibilities of the Whistleblowing Officer are to
of investigation from PT Deloitte Advis Indonesia. The analyse the reports before presenting them to the
Whistleblowing Officer shall carry out the administration Whistleblowing Coordinator Unit for the follow-up
of the whistleblower’s report. In the context of supervision, actions that needs to be undertaken and to ensure the
including that of the proceeding investigation, administration of data pertaining to the most recent
Whistleblowing Coordinator/Officer of CIMB Niaga status of the report. With respect to the Whistleblowing
periodically reports the result of the investigation to the Officer from the Anti-Fraud Management unit and
Director in charge of the Whistleblowing System, which in accordance with the function of the Anti-Fraud
is the Compliance Director with copies to the Director in Management unit as coordinator, the Whistleblowing
charge of Risk Management and the Director in charge of Officer from Anti-Fraud Management also serves as
Human Resources/Chief Human Resources Officer, Chief the Whistleblowing Officer of CIMB Niaga to assist
Audit Executive and all members of the Whistleblowing the duties of the Whistleblowing Coordinator of CIMB
Coordinator Unit. Furthermore, in performing the Board Niaga.
of Commissioners oversight function, the whistleblowing
reports will be reported to the Audit Committeeon a 5. The Chief Audit Executive (CAE) undertakes the role
quarterly basis. of an independent supervisor with respect to the
governance of the Whistleblowing System management.

NUMBER OF WHISTLEBLOWING REPORTS IN 2020 AND 2019
Numbers
Status of Whistleblowing (WB) Reports
2020 2019
WB reports not investigated (Pre-CLOSED) 95 74
WB reports investigated 43 55
a. WB reports - investigated and concluded 41 45
(CLOSED)
b. WB reports under ongoing investigation 2 10
(OPEN)
WB reports pending due to data completeness 0 2
Total reports received 138 131
WB reports found to be PROVEN based on the investigation 22 21
WB reports found to be PROVEN based on the investigation related to Fraud 12 5
Percentage of WB reports that have been investigated out of total reports received 30% 34%
Percentage of WB reports that have been investigated out of the total reports valid for 95% 82%
investigation (as per end of December)
FOLLOW UP SANCTIONS ON VIOLATION

CIMB Niaga takes corrective measures on violations by applying sanctions on errant employees on the basis of the
cases that have been reported through the Whistleblowing System. In 2020, there were 29 employees who had received
sanctions, compared to 28 employees on 2019, with the following details:
11 12
8
7
6
5
4
2 2019
1 1
2020
Reprimand First Warning Second Warning Third Warning Termination of

Letter Letter Letter Letter Employment

ASEAN CORPORATE GOVERNANCE

SCORECARDS IMPLEMENTATION
No. Criteria Page
Principle A: Rights Of Shareholders
A.1 Basic Shareholder Rights
A.1.1 Does the company pay (interim and final/annual) dividends in an aquitable and timely manner; that is, 252 & 626
all shareholders are treated equally and paid within 30 days after being (i) declared for interim dividends
and (ii) approved by annual general meeting (AGM) for final dividends?
A.2 Right to participate in decisions concerning fundamental corporate changes
Do shareholders have the right to participate in:
A.2.1 Amendments to the company’s constitution? 472
A.2.2 The authorization of additional shares? 472
A.2.3 The transfer of all or substantially all assets, which in effect results in the sale of the company? 472
A.3 Right to participate effectively in and vote in general shareholder meeting and should be informed of the
rules, including voting procedures that govern general shareholder meetings
A.3.1 Do shareholders have the opportunity, evidenced by an agenda item, to approve remuneration (fees, 472 & 478
allowances, benefit-in-kind and other emoluments) or any increases in remuneration for the non-
executive directors/commissioners?
A.3.2 Does the company provide non-controlling shareholders a right to nominate candidates for board of 472, 488 & 502
directors/commissioners?
A.3.3 Does the company allows shareholders to elect directors/commissioners individually? 475-482
A.3.4 Does the company disclose the voting procedures used before the start of meeting? 475 & 481
A.3.5 Do the minutes of the most recent AGM record that the shareholders were given the opportunity to ask 473 & 480
questions and the questions raised by shareholders and answers given recorded?
A.3.6 Does the company disclose the voting results including approving, dissenting, and abstaining votes for 475-480
all resolutions/each agenda item for the most recent AGM?
A.3.7 Does the company disclose the list of board members who attended the most recent AGM? 473
A.3.8 Does the company disclose that all board members and the CEO (if he is not a board member) attended 473
the most recent AGM?
A.3.9 Does the company allow voting in absentia? 475 & 481
A.3.10 Did the company vote by poll (as opposed to by show of hands) for all resolutions at the most recent 475-480
AGM?
A.3.11 Does the company disclose that it has appointed an independent party (scrutineers/inspectors) to count 475 & 482
and/or validate the votes at the AGM?
A.3.12 Does the company make publicly available by the next working day the result of the votes taken during 474 & 481
the most recent AGM/EGM for all resolutions?
A.3.13 Does the company provide at least 21 days notice for all AGM and EGMs? 474 & 481
A.3.14 Does the company provide the rationale and explanation for each agenda item which require 474 & 481
shareholders’ approval in the notice of AGM/circulars and/or the accompanying statement?
A.3.15 Does the company give the opportunity for shareholder to place item/s on the agenda of AGM? 472
A.4 Markets for corporate control should be allowed to function in an efficient and transparent
manner
A.4.1 In cases of mergers, acquisitions and/or takeovers requiring shareholders’ approval, does the board of 261
directors/commissioners of the company appoint an independent party to evaluate the fairness of the
transaction price?
A.5 The exercise of ownership rights by all shareholders, including institutional investors, should be
facilitated
A.5.1 Does the company disclose its practices to encourage shareholders to engage the company beyond 472-486 & 612-617
AGMS?
Principle B: Equitable Treatment of Shareholders
B.1 Shares and Voting Rights
B.1.1 Does the company’s ordinary or common shares have one vote for one share? 472
B.1.2 Where the company has more than one class of shares, does the company publicise the voting rights 472
attached to each class of shares (e.g. through the company website reports/the stock exchange/the
regulator’s website)?

No. Criteria Page

B.2 Notice of AGM
B.2.1 Does each resolution in the most recent AGM deal with only one item, i.e., there is no bundling of 473-480
several items into the same resolution?
B.2.2 Are the company’s notice of the most recent AGM/circulars fully translated into English and published on 474
the same date as the local - language version?
Does the notice of AGM/circulars have the following details:
B.2.3 Are the profiles of directors/commissioners (at least age, academic qualification, date of appointment, 474
experience, and directorships in other listed companies) in seeking election/re-election included?
B.2.4 Are the auditors seeking appointment/re-appointment clearly identified? 474 & 476
B.2.5 Were the proxy documents made easily available? 472-473
B.3 Insider trading and abusive self-dealing should be prohibited.
B.3.1 Does the company have policies and/or rules prohibiting directors/commissioners and employees to 124 & 626
benefit from knowledge which is not generally available to the market?
B.3.2 Are the directors/commissioners required to report their dealings in company shares within 3 business 124 & 626
days?
B.4 Related party transactions by directors and key executive
B.4.1 Does the company have a policy requiring directors/commissioners to disclose their interest in 494, 507, 620 & 626
transactions and any other conflicts of interest?
B.4.2 Does the company have a policy requiring a committee of independent directors/commissioners 542-543 & 627
to review material RPTs to determine whether they are in the best interests of the company and
shareholders?
B.4.3 Does the company have a policy requiring board members (directors/commissioners) to abstain from 494 & 507
participating in the board discussion on a particular agenda when they are conflicted?
B.4.4 Does the company have policies on loans to directors and commissioners either forbidding this practice 494, 507 & 627
or ensuring that they are being conducted at arm’s length basis and at market rates?
B.5 Protecting minority shareholders from abusive actions
B.5.1 Does the company disclose that RPTs are conducted in such a way to ensure that they are fair and at 259 & 627
arms’ length?
B.5.2 In case of related party transactions requiring shareholders’ approval, is the decision made by 259 & 627
disinterested shareholders?
Principle C: Role of Stakeholders
C.1 The rights of stakeholders that are established by law or through mutual agreements are to be
respected.
Does the company disclose a policy and practices that address:
C.1.1 The existence and scope of the company’s efforts to address customers’ welfare? 628-629, 683-686 &
698-701
C.1.2 Supplier/contractor selection procedures? 618-619
C.1.3 The company’s efforts to ensure that its value chain is environmentally friendly or is consistent with 618-619, 687-692 &
promoting sustainable development? 2020 Sustainability
Report
C.1.4 The company’s efforts to interact with the communities in which they operate? 702-707
C.1.5 The company’s anti-corruption programmes and procedures? 611 & 679-682
C.1.6 How creditors’ rights are safeguarded? 627
C.1.7 Does the company have a separate report/section that discusses its efforts on environment/economy 2020 Sustainability
and social issues? Report
C.2 Where stakeholder interests are protected by law, stakeholders should have the opportunity to
obtain effective redress for violation of their rights.
C.2.1 Does the company provide contact details via the company’s website or Annual Report which 79, 134, 135-137,
stakeholders (e.g. customers, suppliers, general public etc.) can use to voice their concerns and/or 612-614 & 673-707
complaints for possible violation of their rights?

No. Criteria Page

C.3 Mechanisms for employee participation should be permitted to develop.
C.3.1 Does the company explicitly disclose the policies and practices on health, safety and welfare for its 433-448 & 693-697
employees?
C.3.2 Does the company explicitly disclose the policies and practices on training and development 118-120 & 433-448
programmes for its employees?
C.3.3 Does the company have a reward/compensation policy that accounts for the performance of the 443-444 & 518-525
company beyond short-term financial measures?
C.4 Stakeholders including individual employee and their representative bodies, should be able to
freely communicate their concerns about illegal or unethical practices to the board and their
rights should not be compromised for doing this
C.4.1 Does the company have a whistleblowing policy which includes procedures for complaints by employees 79, 134, 135-137
and other stakeholders concerning alleged illegal and unethical behaviour and provide contact details & 631-634
via the company’s website or annual report
C.4.2 Does the company have a policy or procedures to protect an employee/person who reveals alleged 631-634
illegal/unethical behaviour from retaliation?
Principle D: Disclosure And Transparency
D.1 Transparent Ownership Structure
D.1.1 Does the information on shareholdings reveal the identity of beneficial owners, holding 5% shareholding 128 & 121-125
or more?
D.1.2 Does the company disclose the direct and indirect (deemed) shareholdings of major and/or substantial 128
shareholders?
D.1.3 Does the company disclose the direct and indirect (deemed) shareholdings of directors (commissioners)? 123-124
D.1.4 Does the company disclose the direct and indirect (deemed) shareholdings of senior management? 125
D.1.5 Does the company disclose details of the parent/holding company, subsidiaries, associates, joint 128-132
ventures and special purpose enterprises/vehicles (SPEs)/(SPVs)?
D.2 Quality of Annual Report
Does the company’s annual report disclose the following items:
D.2.1 Corporate Objectives 82 & 250-251
D.2.2 Financial Performance indicators 12-13, 17-23 & 203-234
D.2.3 Non-Financial Performance indicators 13, 30-33 & 160-202
D.2.4 Dividend Policy 252 & 626
D.2.5 Biographical details (at least age, academic qualifications, date of first appointment, relevant experience, 94-105
D.2.6 Attendance details of each director/commissioner in all directors/commissioners meetings held during 526-537
the year
D.2.7 Total remuneration of each member of the board of directors/commissioners 518-525
Corporate Governance Confirmation Statement
D.2.8 Does the Annual Report contain a statement confirming the company’s full compliance with the code of 668
corporate governance and where there is non-compliance, identify and explain reasons for each such
issue?
D.3 Disclosure of Related Party Transactions (RPTs)
D.3.1 Does the company disclose its policy covering the review and approval of material RPTs? 259 & 627
D.3.2 Does the company disclose the name, relationship, nature and value for each material RPTs? 259 & 627
D.4 Directors and Commissioners dealings in the shares of the company
D.4.1 Does the company disclose trading in the company’s shares by insiders? 124-125 & 626
D.5 External Auditor and Auditor Report
Where the same audit firm is engaged for both audit and non-audit services
D.5.1 Are the audit and non-audit fees disclosed? 599-600

No. Criteria Page

D.5.2 Does the non-audit fee exceed the audit fees? 599-600
D.6 Medium of Communications
Does the company use the following modes of communication?
D.6.1 Quarterly Reporting 612-617 & 625
D.6.2 Company Website 135-137 & 625
D.6.3 Analyst’s briefing 612-617 & 625
D.6.4 Media briefings/press conferences 612-617
D.7 Timely filing/release of annual/financial reports
D.7.1 Are the audited annual financial report/statement released within 120 days from the financial year end? Consolidated Financial
Report p. 2-4
D.7.2 Is the annual report released within 120 days from the financial year end? 72-73
D.7.3 Is the statement that the Annual Financial Report has been presented correctly and fairly, confirmed by Consolidated Financial
the Board of Commissioners or the Board of Directors and/or related officials of the company. Report p. 2-4
D.8 Company Website
Does the company have a website disclosing up-to-date information on the following:
D.8.1 Financial statements/reports (latest quarterly)) 135-137
D.8.2 Materials provided in briefings to analysts and media 135-137
D.8.3 Downloadable Annual Report 135-137
D.8.4 Notice of AGM and/or EGM 135-137
D.8.5 Minutes of AGM and/or EGM 135-137
D.8.6 Company’s constitution (company’s by-laws, memorandum and association) 135-137
D.9 Investor Relations
D.9.1 The company discloses detailed information about company contacts (telephone, fax and email) from a 79, 134 & 612-617
department/officer is responsible for investor relations activities.
Principle E: Responsibilities of the Board
E.1 Board Duties and Responsibilities
Clearly defined board responsibilities and corporate governance policy
E.1.1 Does the company disclose its corporate governance policy/board charter? 461-462, 487 & 501
E.1.2 Are the types of decisions requiring board of directors/commissioners’ approval disclosed? 490-496 & 504-509
E.1.3 Are the roles and responsibilities of the board of directors/commissioners clearly stated? 490- 493 & 504-506
Corporate Vision/Mission
E.1.4 Does the company have an updated vision and mission statement? 82
E.1.5 Does the board of directors play a leading role in the process of developing and reviewing the 82 & 504
company’s strategy at least annually?
E.1.6 Does the board of directors have a process to review, monitor and oversee the implementation of the 82 & 504
corporate strategy?
E.2 Board Structure
Code of Ethics or Conduct
E.2.1 Are the details of the code of ethics or conduct disclosed? 620-622
E.2.2 Are all directors/commissioners, senior management and employees required to comply with the 620-622
code/s?
E.2.3 Does the company have a process to implement and monitor compliance with the code/s of ethics or 620-622
conduct?
Board Structure & Composition
E.2.4 Do independent directors/commissioners make up at least 50% of the board of directors/ 488-489 & 499-500
commissioners?

No. Criteria Page

E.2.5 Does the company have a term limit of nine years or less or 2 terms of five years1) each for its 489 & 499
independent directors/commissioners?
E.2.6 Has the company set a limit of five board seats that an individual independent/non-executive director/ 493-494, 499-500 & 507
commissioner may hold simultaneously?
E.2.7 Does the company have any executive directors who serve on more than two boards of listed 94-104, 493-494 & 507
companies outside of the group?
Nomination Committee (NC)
E.2.8 Does the company have a Nominating Committee? 547-552
E.2.9 Is the Nominating Committee comprised of a majority of independent directors/commissioners? 547-552
E.2.10 Is the chairman of the Nominating Committee an independent director/commissioner? 547-552
E.2.11 Does the company disclose the terms of reference/governance structure/charter of the Nominating 547
Committee?
E.2.12 Is the meeting attendance of the Nominating Committee disclosed and if so, did the Nominating 550
Committee meet at least twice during the year?
Remuneration Committee (RC)/Compensation Committee
E.2.13 Does the company have a Remuneration Committee? 547-552
E.2.14 Is the Remuneration Committee comprised of a majority of independent directors/commissioners? 547-552
E.2.15 Is the chairman of the Remuneration Committee an independent director/commissioner? 547-552
E.2.16 Does the company disclose the terms of reference/governance structure/charter of the Remuneration 547
Committee?
E.2.17 Is the meeting attendance of the Remuneration Committee disclosed and, if so, did the Remuneration 550
Committee meet at least twice during the year?
Audit Committee (AC)
E.2.18 Does the company have an Audit Committee? 539-546
E.2.19 Is the Audit Committee comprised entirely of non-executive directors/commissioners with a majority of 539-546
independent directors/commissioners?
E.2.20 Is the chairman of the Audit Committee an independent director/commissioner? 539-546
E.2.21 Does the company disclose the terms of reference/governance structure/charter of the Audit 539
Committee?
E.2.22 Does at least one of the independent directors/commissioners of the committee have accounting 539-546
expertise (accounting qualification or experience)?
E.2.23 Is the meeting attendance of the Audit Committee disclosed and, if so, did the Audit Committee meet at 544
least four times during the year?
E.2.24 Does the Audit Committee have primary responsibility for recommendation on the appointment, and 542-544
removal of the external auditor?
E.3 Board Processes
Board Meetings and Attendance
E.3.1 Are the board of directors meeting scheduled before the start of financial year? 527 & 531
E.3.2 Does the board of directors/commissioners meet at least six times during the year? 526-537
E.3.3. Has each of the directors/commissioners attended at least 75% of all the board meetings held during 529 & 537
the year?
E.3.4 Does the company require a minimum quorum of at least 2/3 for board decisions? 526 & 530
E.3.5 Did the non-executive directors/commissioners of the company meet separately at least once during the 527-528
year without any executives present?
Access to Information
E.3.6 Are board papers for board of directors/commissioners meetings provided to the board at least five 526
business days in advance of the board meeting?
E.3.7 Does the company secretary play a significant role in supporting the board in discharging its 574-576
responsibilities?

No. Criteria Page

E.3.8 Is the company secretary trained in legal, accountancy or company secretarial practices and has kept 574-576, 148 & 144
abreast on relevant developments?
Board Appointment and Re-Election
E.3.9 Does the company disclose the criteria used in selecting new directors/commissioners? 487-488 & 501-502
E.3.10 Did the company describe the process followed in appointing new directors/commissioners? 487-488 & 501-502
E.3.11 Are all directors/commissioners subject to re-election every 3 years; or 5 years for listed companies in 489-490 & 503
countries whose legislation prescribes a term of 5 years2) each?
Remuneration Matters
E.3.12 Does the company disclose its remuneration (fees, allowances, benefit-in-kind and other emoluments) 518-525
policy/practices (i.e. the use of short term and long term incentives and performance measures) for its
executive directors and CEO?
E.3.13 Is there disclosure of the fee structure for non-executive directors/commissioners? 518-525
E.3.14 Do the shareholders or the Board of Directors approve the remuneration of the executive directors and/ 518-525
or the senior executives?
E.3.15 Does the company have measurable standards to align the performance-based remuneration of the 518-525
executive directors and senior executive with long-term interests of the company, such as claw back
provision and deferred bonuses?
Internal Audit
E.3.16 Does the company have a separate internal audit function? 577-587
E.3.17 Is the head of internal audit identified or, if outsourced, is the name of the external firm disclosed? 577-587
E.3.18 Does the appointment and removal of the internal auditor require the approval of the Audit Committee? 577-587
Risk Oversight
E.3.19 Does the company establish a sound internal control procedures/risk management framework and 286-428, 545 & 601-607
periodically review the effectiveness of that framework?
E.3.20 Does the Annual Report/Annual CG Report disclose that the board of directors/commissioners has 286-428, 545 & 601-607
conducted a review of the company’s material controls (including operational, financial and compliance
controls) and risk management systems?
E.3.21 Does the company disclose the key risks to which the company is materially exposed to (i.e. financial, 286-428, 545 & 601-607
operational including IT, environmental, social, economic)?
E.3.22 Does the Annual Report/Annual CG Report contain a statement from the board of directors/ 545 & 558
commissioners or Audit Committee commenting on the adequacy of the company’s internal controls/
risk management systems?
E.4 People on the Board
Board Chairman
E.4.1 Do different persons assume the roles of chairman and CEO? 94 & 98
E.4.2 Is the chairman an independent director/commissioner? -
E.4.3 Is any of the directors a former CEO of the company in the past 2 years? 98-103
E.4.4 Are the roles and responsibilities of the chairman disclosed? 492-493
Lead Independent Director
E.4.5 If the Chairman is not independent, has the Board appointed a Lead/Senior Independent Director and 95 & 488-489
has his/her role been defined?
Skills and Competencies
E.4.6 Does at least one non-executive director/commissioner have prior working experience in the major 98-103
sector that the company is operating in?
E.5 Board Performance Directors Development
E.5.1 Does the company have orientation programmes for new directors/commissioners? 496-497 & 509-510

No. Criteria Page

E.5.2 Does the company have a policy that encourages directors/commissioners to attend on-going or 496-497 & 509-510
continuous professional education programmes?
CEO/Executive Management Appointments and Performance
E.5.3 Does the company disclose the process on how the board of directors/commissioners plans for the 552
succession of the CEO/Managing Director/President and key management?
E.5.4 Does the board of directors/commissioners conduct an annual performance assessment of the CEO/ 512-514
Managing Director/President?
Board Appraisal
E.5.5 Did the company conduct an annual performance assessment of the board of directors/commissioners 511-514
and disclose the criteria and process followed for the assessment?
Director Appraisal
E.5.6 Did the company conduct an annual performance assessment of the individual directors/commissioners 511-514
and disclose the criteria and process followed for the assessment?
Committee Appraisal
E.5.7 Did the company conduct an annual performance assessment of the board committees and disclose the 497-498
criteria and process followed for the assessment?
LEVEL 2 - BONUS ITEMS
(B)A. Rights of Shareholders
(B)A.1 Right to participate effectively in and vote in general shareholders meeting and should be
informed of the rules, including voting procedures, that govern general shareholders meeting
(B)A.1.1 Does the company practice secure electronic voting in absentia at the general meetings of shareholders? 475 & 481
(B)B. Equitable Treatment of Shareholders
(B)B.1 Notice of AGM
(B)B.1.1 Does the company release its notice of AGM (with detailed agendas and explanatory circulars), as 474 & 481
announced to the Exchange, at least 28 days before the date of the meeting?
(B)C Role of Stakeholder
(B)C.1 The rights of stakeholders that are established by law or through mutual agreement are to be
respected
(B)C.1.1 Does the company adopt an internationally recognised reporting framework for sustainability (i.e.GRI, 2020 Sustainability
Integrated Reporting, SASB)? Report
(B)D Disclosure and Transparency

(B)D.1 Quality of Annual Report
(B)D.1.1 Are the audited annual financial report/statement released within 60 days from the financial year end? Consolidated Financial
Report p. 2-4
(B)D.1.2 Does the company disclose details of remuneration of the CEO? -
(B)E Responsibilities of The Board
(B)E.1 Board Competencies and Diversity
(B)E.1.1 Does the company have at least one female independent director/commissioner? 96, 488-489, 499-500 &
516-517
(B)E.1.2 Does the company have a policy and disclose measurable objectives for implementing its board diversity 516-517
and report on progress in achieving its objectives?
(B)E.2 Board Structure
(B)E.2.1 Is the Nominating Committee comprise entirely of independent directors/commissioners? -
(B)E.2.2 Does the Nominating Committee undertake the process of identifying the quality of directors aligned 547-551
with the company’s strategic directions?
(B)E.3 Board Appointments and Re-Election
(B)E.3.1 Does the company use professional search firms or other external sources of candidates (such as 488, 502 & 551
director databases set up by director or shareholder bodies) when searching for candidates to the board
of directors/commissioners?

No. Criteria Page

(B)E.4 Board Appointments and Re-Election
(B)E.4.1 Do independent non-executive directors/commissioners make up more than 50% of the board of -
directors/commissioners for a company with independent chairman?
(B)E.5 Risk Oversight
(B)E.5.1 Does the board describe its governance process around IT issues including disruption, cyber security, 449-455
disaster recovery, to ensure that all key risks are identified, managed and reported to the board?
(B)E.6 Board Performance
(B)E.6.1 Does the company have a separate board level Risk Committee? 553-559
LEVEL 2 - PENALTY ITEMS
(P)A. Rights Of Shareholders
(P)A.1 Basic Shareholder Right
(P)A.1.1 Did the company fail or neglect to offer equal treatment for share repurchases to all shareholders? -
(P)A.2 Shareholders, including institutional shareholders, should be allowed to consult with each
other on issues concerning their basic shareholder rights as defined in the Principles, subject to
exceptions to prevent abuse.
(P)A.2.1 Is there evidence of barriers that prevent shareholders from communicating or consulting with other -
shareholders?
(P)A.3 Right to participate effectively in and vote in general shareholders meeting and should be
informed of the rules, including voting procedures, that govern general shareholders meeting
(P)A.3.1 Did the company include any additional and unannounced agenda item into the notice of AGM/EGM? -
(P)A.3.2 Did the Chairman of the Board, Audit Committee Chairman and CEO attend the most recent AGM? -
(P)A.4 Capital structures and arrangements that enable certain shareholders to obtain a degree of control
disproportionate to their equity ownership should be disclosed
(P)A.4.1 Shareholders Agreement? -
(P)A.4.2 Voting Cap? -
(P)A.4.3 Multiple Voting Rights? -
(P)A.5 Capital structures and arrangements that enable certain shareholders to obtain a degree of control
disproportionate to their equity ownership should be disclosed.
(P)A.5.1 Is a pyramid ownership structure and/or cross holding structure apparent? -
(P)B Equitable Treatment of Shareholders
(P)B.1 Insider trading and abusive self-dealing should be prohibited
(P)B.1.1 Has there been any conviction of insider trading involving directors/commissioners, management and -
employees in the past three years?
(P)B.2 Protecting minority shareholders from abusive action
(P)B.2.1 Has there been any cases of non compliance with the laws, rules and regulations pertaining to material -
related party transactions in the past three years?
(P)B.2.2 Were there any RPTs that can be classified as financial assistance (i.e not conducted at arms length) -
toentities other than wholly-owned subsidiary companies?
(P)C Role 0f Stakeholders
(P)C.1 The rights of stakeholders that are established by law or through mutual agreements are to be
respected
(P)C.1.1 Have there been any violations of any laws pertaining to labour/employment/consumer/insolvency/ -
commercial/competition or environmental issues?

No. Criteria Page

(P)C.2 Where stakeholders participate in the corporate governance process, they should have access to
relevant, sufficient and reliable information on a timely and regular basis
(P)C.2.1 Has the company faced any sanctions by regulators for failure to make announcements within the -
requisite time period for material events?
(P)D Disclosure and Transparency
(P)D.1 Sanctions from regulator on financial reports
(P)D.1.1 Did the company receive a “qualified opinion” in its external audit report? -
(P)D.1.2 Did the company receive an “adverse opinion” in its external audit report? -
(P)D.1.3 Did the company receive a “disclaimer opinion” in its external audit report? -
(P)D.1.4 Has the company in the past year revised its financial statements for reasons other than changes in -
accounting policies?
(P)E Responsibilities of The Board
(P)E.1 Compliance with listing rules, regulations and applicable laws
(P)E.1.1 Is there any evidence that the company has not complied with any listing rules and regulations over the -
past year apart from disclosure rules?
(P)E.1.2 Have there been any instances where non-executive directors/commissioner have resigned and raised -
any issues of governance-related concerns?
(P)E.2 Board Structure
(P)E.2.1 Does the Company have any independent directors/commissioners who have served for more than nine -
years or two terms of five years1) each (which ever is higher) in the same capacity?
(P)E.2.2 Did the company fail to identify who are the independent director(s)/commissioner(s)? -
(P)E.2.3 Does the company have any independent directors/non-executive/commissioners who serve on a total -
of more than five boards of publicly-listed companies?
(P)E.3 External Audit
(P)E.3.1 Is any of the directors or senior management a former employee or partner of the current external -
auditor (in the past 2 years)?
(P)E.4 Board Structure and Composition
(P)E.4.1 Has the chairman been the company CEO in the last three years? -
(P)E.4.2 Do independent non-executive directors/commissioners receive options, performance shares or -
bonuses?

IMPLEMENTATION OF CORPORATE GOVERNANCE

ASPECTS AND PRINCIPLES IN A PUBLIC COMPANY
PURSUANT TO OJK REGULATION
In the interest of enhancing the implementation of Good Corporate Governance in Public Companies, OJK has issued
Regulation No. 21/POJK.04/2015 on the Implementation of Corporate Governance Guidelines for Public Companies and
Circular Letter No. 32/SEOJK.04/2015 on the Corporate Governance Guidelines for Public Companies. The regulation
contains 5 (five) aspects, 8 (eight) principles, and 25 (twenty-five) recommendations on governance recommended by
OJK.
CIMB Niaga applies those aspects, principles and recommendations, using the “comply or explain” approach as follows:

Aspect Principle Recommendation Explanation

Public Principle 1: 1.1 The Public company Comply
Company Improve the has technical voting
Relationship Management procedure either As an effort to improve independence, freedom and confidentiality of
with Value of the open or closed shareholders in the voting process, CIMB Niaga has policy to conduct voting
Shareholders General Meeting that promotes in the GMS in a closed and electronic manner (e-voting) for each agenda of
in ensuring the of Shareholders independency the GMS. This policy is set out in the GMS Rules.
Right of the (GMS) and the interest of
Shareholders shareholders. Voting in the AGM and EGMS were carried out in a closed and electronic
manner, through touch screen devices provided by CIMB Niaga, smartphones
and other mobile devices (tablets, ipad, etc.) owned by the Shareholders
or their proxies. This made CIMB Niaga the first public listed company in
Indonesia to hold voting for shareholders electronically (e-voting). Since
2020, the Bank has implemented e-Proxy, whereby shareholders who could
not or chose not to attend the meeting can exercise their voting rights by
giving their proxies through electronic (e-Proxy), using Electronic General
Meeting System (eASY.KSEI) provided by KSEI.
The vote counting and results are ascertained by independent parties,

namely the Shares Registrar, PT Bima Registra, and Notary Ashoya Ratam,
SH. Therefore, the independence and interests of the shareholders are
protected in the voting process.
The GMS Rules have been uploaded on the Bank’s website 28 (twenty eight)
days before the GMS and distributed to shareholders when entering the
GMS room, and read out by the Corporate Secretary before the GMS begins.
1.2 All members of the Comply
Board of Directors
and the Board of All members of the Board of Directors and Board of Commissioners of
Commissioners CIMB Niaga were present in the AGM on 9 April 2020, except for Tengku
are present at the Dato’ Sri Zafrul Abdul Aziz, the President Commissioner who had tendered
Annual GMS. his resignation on 9 March 2020, having been appointed as the Minister of
Finance of Malaysia and officially assumed his new post effectively on 10
March 2020. The attending members of the Board of Directors and Board
of Commissioners were able to represent the Bank in informing all of the
meeting agendas to the shareholders, for the AGM to proceed without a
hitch.
1.3 Summary of GMS Comply
minutes is available
on the public CIMB Niaga uploaded the summary of the GMS minutes on the same day
company’s website after the adjournment of the GMS on the CIMB Niaga’s website (www.
at least for 1 (one) cimbniaga.co.id). The summary of the minutes of the GMS since 2013 up to
year. the present day are available on the Bank’s website, both in Bahasa
Indonesia and English.


Public Principle 2: 2.1 The Public Comply
Company Improving the Company has a
Relationship Communication communication CIMB Niaga has the Policy on Communication with Shareholders or Investors
with Quality of policy with the No. M.02 that has been uploaded on the CIMB Niaga website (www.
Shareholders the Public shareholders or cimbniaga.co.id).
in ensuring the Company with investors.
Right of the Shareholders or The communication carried out by the Bank are through the implementation
Shareholders Investors of the GMS, Public Expose, Analyst Presentation, Annual Rating Review,
publication of Monthly, Quarterly and Annual Financial Reports, as well as
conducting accurate and timely disclosure of information. CIMB Niaga also
provides information on head office and branch location address, e-mail
addresses and telephone numbers both on the website and the Annual
Report, access to Social Media (Facebook, Twitter, Instagram, LinkedIn)
and Contact Center as a means for shareholders and investors to easily
communicate with Bank.
2.2 The Public company Comply
discloses its
communication Policy of Communication with Shareholders or Investors of CIMB Niaga No.
policy with the M.02 has been uploaded to the CIMB Niaga’s website (www.cimbniaga.co.id).
shareholders or
investors on the
website.
Board of Principle 3: 3.1 Determination of the Comply
Commissioners Strengthen the number of Board
Function and Board of of Commissioners’ CIMB Niaga has a Policy and Procedure for the Nomination, Appointment,
Role Commissioners members shall Replacement and/or Dismissal of Members of the Board of Commissioners,
Membership and consider the the Board of Directors and the Committees under the Board of Commissioners
Composition condition of the as a guideline for the Nomination and Remuneration Committee in the
Public Company. nomination process of the members of the Board of Commissioners of CIMB
Niaga by considering the needs, conditions and abilities of the Bank.
As of December 2020, the Board of Commissioners of the Bank consists of

6 (six) people, where 3 of them (50%) were Independent Commissioners.
Total members of the Board of Commissioners does not exceed the total
members of the Board of Directors.
3.2 Determination on Comply
the composition
of the members The Board of Commissioners of CIMB Niaga has a diverse backgrounds in
of the Board of terms of expertise/education, knowledge, experience and citizenship that
Commissioners aims to support the development of the Bank’s business. This shown in the
considers the profiles of each member of the Board of Commissioners.
diversity, expertise,
knowledge and
experience required.


Principle 4: 4.1 The Board of Comply
The Function and Commissioners has
Role of the Board a self-assessment The performance assessment policies of the Board of Commissioners
of Directors policy to evaluate its and the Committees under the Board of Commissioners are set out in the
in Enhancing performance. Appendix of the Nomination and Remuneration Committee Charter, which
the Quality of can be accessed through the CIMB Niaga’s website (www.cimbniaga.co.id).
the Discharge
of Duties and 4.2 The self-assessment Comply
Responsibilities policy on the Board
by the Board of of Commissioners The performance assessment policy of the Board of Commissioners is set out
Commissioners. performance is in the Appendix of the Nomination and Remuneration Committee Charter,
disclosed in the and the results of the assessment is disclosed in the Corporate Governance
Annual Report of the Report Section of this Annual Report.
Public Company.
4.3 The Board of Comply
Commissioners
has a policy related The Board of Commissioners of the CIMB Niaga’s Charter (point XI.4) has
to resignation stipulated that members of the Board of Commissioners who are involved in
of the Board of financial crimes and/or other criminal offenses are required to resign from
Commissioner’s their positions.
members if such
member is involved
in financial crimes.
Commissioners or
the Nomination The succession policy has been stipulated in the Nomination and
and Remuneration Remuneration Committee Charter and the Policy and Procedure for the
Committee shall Nomination, Appointment, Replacement and/or Dismissal of the Members
prepare the of the Board of Commissioners, the Board of Directors and Committees
succession policy under the Board of Commissioners as well as disclosed in the Nomination
in the nomination and Remuneration Committee’s Report in this Annual Report.
process of the
Board of Directors’
members.
Board of Principle 5: 5.1 Determination Comply
Directors Strengthen of the number of
Function and the Board Board of Directors’ CIMB Niaga has a Policy and Procedure for the Nomination, Appointment,
Role of Directors members shall Replacement and/or Dismissal of Members of the Board of Commissioners,
Membership and considers the Public the Board of Directors and the Committees under the Board of
Composition Company condition Commissioners as a guideline for the Nomination and Remuneration
and effectiveness of Committee in the nomination process of the members of the Board of
decision making. Directors of CIMB Niaga by considering financial condition and ability of
the Bank as well as organizational needs and complexity of the Bank as the
second largest private bank in Indonesia.
As of December 2020, the Board of Directors of the Bank consists of 8 (eight)

people. The total members of the Board of Directors is more than the total
members of the Board of Commissioners.
5.2 Determination on Comply
the composition of
the members of the The Board of Directors of CIMB Niaga has a diverse background in terms of
Board of Directors’ expertise/education, knowledge and experience. This shown in the profiles
considers the of each member of the Board of Directors. The diversity and number of
diversity, expertise, Board of Directors are required in order to provide the best possible solution
knowledge, and for the Bank, according to the Bank’s needs, size and business complexity.
experience required.
5.3 Members of the Comply
Board of Directors
responsible for The Strategy, Finance & SPAPM Director of CIMB Niaga who is in charge of
accounting or accounting and finance is Mr. Lee Kai Kwong.
finance have He holds a Bachelor of Science (Fin) from the University of Pennsylvania,
accounting expertise USA and previously served as Senior Managing Director - Regional Head of
and/or knowledge. Consumer Business Planning & Analysis at CIMB Bank Malaysia, and has held
various positions in the field of Finance.
Mr. Lee Kai Kwong meets the criteria of having expertise and/or knowledge
in accounting and/or finance.


Principle 6: 6.1 The Board of Comply
Improve the Directors has a self-
Quality of assessment policy The performance assessment policies of the Board of Directors is set out
the Board to evaluate its own in the Appendix of the Nomination and Remuneration Committee Charter,
of Directors performance. which can be accessed through the CIMB Niaga’s website (www.cimbniaga.
Duties and co.id).
Responsibilities
performance 6.2 The self-assessment Comply
policy on the
Board of Directors The performance assessment policy of the Board of Directors is set out in the
performance is Appendix of the Nomination and Remuneration Committee Charter, and the
disclosed in the results of the assessment is disclosed in the Corporate Governance Report
Annual Report of the Section of this Annual Report.
Public Company.
Directors has a
policy related to The Board of Directors Charter of the CIMB Niaga (point XI.4) has stipulated
resignation of the that members of the Board of Directors who are involved in financial crimes
Board of Directors’ and/or other criminal offenses are required to resign from their positions.
members if such
member is involved
in financial crimes.
Stakeholders Principle 7: 7.1 The Public company Comply
Participation Improving has a policy to
Corporate prevent insider To prevent Insider Trading, CIMB Niaga has Conflict Management Policy that
Governance trading. has been uploaded to the CIMB Niaga’s website (www.cimbniaga.co.id).
through
Stakeholders This policy establishes the rules, identify, reduce and manage any potential
Participation conflicts of interest that may arise within the Bank as a result of activities
carried out by the Bank’s business units that enable them to obtain
information about the Bank, Bank’s customers and the CIMB Group.
7.2 The Public Company Comply
has an anti-
corruption and CIMB Niaga has Anti-Corruption Policy No. M.11 and Anti- Fraud Policy No.
anti-fraud policy. E.07 uploaded to the CIMB Niaga’s website (www.cimbniaga.co.id).
The Anti-Corruption Policy is intended to provide information and guidance

for those working for and on behalf of the Bank, on how to recognize, raise
concern and deal with corruption issues.
The Anti-Fraud Policy regulates the framework, governance and

implementation of anti-fraud strategy which are implemented through 4
pillars namely prevention, detection, investigation and supervision.
Further explanation regarding the Anti-Corruption Policy and Anti-Fraud

Policy is disclosed in this Annual Report.
has a suppliers or
vendors selection CIMB Niaga has a Goods and Services Procurement Policy No. E.04.A.06
and capability and Goods and Services Procurement Procedure No. E.04.A.06.P.01 which
improvement policy. has been uploaded to the CIMB Niaga’s website (www.cimbniaga.co.id) and
disclosed further in this Annual Report.
The CIMB Niaga Code of Ethics & Conduct also regulates relationships with
suppliers, vendors and consultants (partners) in collaboration with the Bank,
including objective evaluations, prohibitions on receiving compensation
from partners, partner compliance with the Bank’s Code of Ethics & Conduct
and consultation and lobbying with partners.


has a policy on
the fulfillment of CIMB Niaga has a Policy of the Fulfillment of Creditor Rights No. M.05 which
creditor’s rights. has been uploaded on the CIMB Niaga’s website (www.cimbniaga.co.id) and
disclosed further in this Annual Report.
This policy regulates that CIMB Niaga shall apply and respect to the rights
of creditors through equal treatment to all creditors, exercising their rights
and obligations in a timely manner with no hidden information by the Bank.
has a whistleblowing
system policy. CIMB Niaga has a Whistleblowing Policy No. E.08 which has been uploaded
on the CIMB Niaga’s website (www.cimbniaga.co.id) and disclosed further in
this Annual Report.
has a long-term
incentive policy CIMB Niaga has a Risk-based Remuneration Policy which stipulated a long-
for the Board of term incentive policy for the Board of Directors and employees considered
Directors and as Material Risk Taker (MRT).
employees.
Further explanation regarding the Remuneration Policy is disclosed in this
Annual Report.
Information Principle 8: 8.1 The Public Company Comply
Disclosure Improvement on benefits from the
the Information use of broader In addition to website, CIMB Niaga also utilizes other information technology
Disclosure information such as phone banking, radio, printed media and social media (such as
technology other Instagram, Facebook, Twitter, LinkedIn, and YouTube) as media channels for
than Website information disclosure.
as information
disclosure channel. Further information disclosed in the Information and Corporate Data Access
report in this Annual Report.
8.2 The Annual Report Comply
of the Public
Company discloses CIMB Niaga has no shareholders own 5% of the shares other than Ultimate
share ownership Shareholders (CIMB Group) as disclosed in the Corporate Profile section in
of at least 5% (five this Annual Report.
percent), other
than disclosure
of ultimate
shareholders of the
Public Company
through major
and controlling
shareholders.


INTEGRATED
GOVERNANCE REPORT
The OJK issued OJK Regulation No. 18/POJK.03/2014 Financial Conglomerate is expected to induce financial
dated 18 November 2014 and OJK Circular Letter No. system stability and sustainability, so as to increase
15/SEOJK.03/2015 dated 25 May 2015 concerning competitiveness in the financial services industry.
Implementation of the Integrated Governance (IG) for the
Financial Conglomerate, and POJK No. 45/POJK.03/2020 STRUCTURE OF THE FINANCIAL
of 16 October 2020 concerning Financial Conglomerate. CONGLOMERATE
These regulations govern the establishment of the The membership composition of the CIMB Indonesia
Financial Conglomerate, appointment of the Main Entity Financial Conglomerate has been reported to OJK
(ME) in a Financial Conglomerate, and implementation through CIMB Niaga letter No. 050/FO/KP/19 dated 24
of IG in a comprehensive and effective manner, and the April 2019, as follows:
requirement to formulate the Corporate Charter of the Main Entity : PT Bank CIMB Niaga Tbk. (CIMB Niaga)
Main Entity. Members : PT CIMB Niaga Auto Finance (CNAF)
PT CIMB Niaga Sekuritas (CNS)
The Implementation of Good Corporate Governance
in the business activity of the Financial Conglomerate SHAREHOLDING STRUCTURE
will improve its performance and compliance with all The current shareholding structure of the CIMB Indonesia
prevailing laws and regulations, as well as prevailing Financial Conglomerate is shown below.
ethical norms of the financial services industry. The
implementation of Integrated Governance in the
Financial Conglomerate
Main Entity Public
Subsidiaries CIMB Group Sdn Bhd
92.50%*
7.50%
99.93% 94.78%
*)
Including PT Commerce Kapital 1.02%.
MANAGEMENT STRUCTURE
Pursuant to OJK Regulation No. 18/POJK.03/2014 concerning Implementation of the Integrated Governance for the
Financial Conglomerate, the management structure in CIMB Indonesia Financial Conglomerate is as follows:
Internal Audit Risk Management

Entity IG Committee * Compliance Function
Function Function
CIMB Niaga √ √ √ √
CIMB Niaga Auto Finance (CNAF) - √ √ √
CIMB Niaga Sekuritas (CNS) - √ √ √
The IG Committee is in the Main Entity. However, the Committee consists also of representatives (Independent Commissioners) of each of the member entities of the
*)
Financial Conglomerate.

MAIN ENTITY: CIMB NIAGA DUTIES AND RESPONSIBILITIES OF THE BOARD OF

DIRECTORS OF THE MAIN ENTITY
BOARD OF COMMISSIONERS, SHARIA 1. Ensuring the IG implementation in the CIMB Indonesia
SUPERVISORY BOARD AND BOARD OF DIRECTORS Financial Conglomerate;
OF THE MAIN ENTITY 2. Preparing the IG Charter for approval by the Board of
The compositions of the Board of Commissioners, the Commissioners of ME;
Sharia Supervisory Board and the Board of Directors 3. Preparing the Implementation Guidelines needed to
of CIMB Niaga as the Main Entity are presented in the support the IG Charter implementation including, but
Company Profile Section of this Annual Report. not limited to:
a. Integrated Risk Management Guidelines;
DUTIES AND RESPONSIBILITIES OF THE BOARD OF b. Integrated Compliance Guidelines; and
COMMISSIONERS OF THE MAIN ENTITY c. Integrated Internal Audit Guidelines.
Overseeing the implementation of the Integrated 4. Directing, monitoring, and evaluating the
Corporate Governance by: implementation of the IG Charter;
1. Approving the IG Charter prepared by the Board of 5. Following up the Board of Commissioners of ME
Directors of ME; direction and advice to improve the IG Charter and its
2. Overseeing the Governance implementation of implementation;
each member of the CIMB Indonesia Financial 6. Ensuring the audit findings and recommendations
Conglomerate in accordance with the IG Charter; from the Integrated Internal Audit, External Audit, and
3. Overseeing implementation of the duties and supervision results from OJK and/or other authorities
responsibilities of the Board of Directors of ME, and have been followed up by FSI in the CIMB Indonesia
provide direction or advice to the Board of Directors Financial Conglomerate;
of ME on implementing the IG Charter; 7. Reporting the IG self-assessment (semi-annually) and
4. Evaluating the IG Charter and implementation the IG Annual Report;
guidelines; 8. Appointing an organizational unit within the ME to be
5. Providing direction for the improvement of the IG responsible for coordinating the IG implementation
Charter and implementation guidelines; in the CIMB Indonesia Financial Conglomerate.
6. Submitting the IG Committee recommendations
to the Board of Directors of EU regarding the IG MEMBERS:
implementation by members of the CIMB Indonesia
Financial Conglomerate; CIMB NIAGA AUTO FINANCE (CNAF)
7. Establishing an IGC to support the effectiveness of IG The compositions of the Board of Commissioners and
implementation in a separate section; Board of Directors of CNAF are presented in the Company
8. Convening regular meetings at least 1 (one) time per Profile Section of this Annual Report.
semester.
CIMB NIAGA SEKURITAS (CNS)
DUTIES AND RESPONSIBILITIES OF SHARIA The compositions of the Board of Commissioners and
SUPERVISORY BOARD OF THE MAIN ENTITY Board of Directors of CNS are presented in the Company
1. Ensuring the IG implementation does not conflict Profile Section of this Annual Report.
with Sharia principles;
2. Oversee FSI activities to comply with Sharia principles.

Duties and Responsibilities of Members of the CIMB Indonesia Financial Conglomerate

Board of Commissioners Board of Directors
1. Provide recommendations and approval regarding the Governance The Board of Directors must ensure the IG implementation by CIMB
Policy prepared by the Board of Directors and ensure the Indonesia Financial Conglomerate members, with the responsibilities
Governance Policy is in accordance with IG Charter; as follows:
2. Supervise the IG implementation, with the duties and responsibilities 1. Prepare the Governance Policy aligned with IG Charter;
as follows: 2. Prepare the necessary policies and procedures for the IG
a. Supervise Governance implementation in accordance with the IG implementation, aligned with the Main Entity procedures
Charter and Governance Policy; 3. Provide sufficient resources;
b. Follow up the IG Committee recommendations related to IG 4. Guide, monitor and evaluate the Governance Policy implementation
implementation and improvements of Governance Policy; including reporting;
c. Supervise the implementation of the Board of Directors 5. Follow up on the directions and advice from the Board of
duties and responsibilities, and also provide directions or Commissioners in order to improve the Governance Policies, IG
recommendations to the Board of Directors regarding the and Governance implementation based on the IG Committee
implementation of Governance Policy; recommendations; and
d. Evaluate and approve the Governance Policy; 6. Report the assessment and implementation of Governance to the
e. Establish the Governance Committee by considering the ME in accordance with the prevailing procedures.
characteristic and scale of business;
f. The Board of Commissioners discusses the recommendations
from the IG Committee in the Board of Commissioners and
Board of Directors meetings in order to provide direction and
advice.
THE CORPORATE CHARTER INTEGRATED INTERNAL AUDIT UNIT (IIA)

As the Main Entity, CIMB Niaga has formulated The IIA was established in CIMB Indonesia Financial
the Corporate Charter of CIMB Indonesia Financial Conglomerate to support the proper implementation
Conglomerate pursuant to OJK Regulation No. 45/ of Integrated Governance (IG). The IIA has formulated
POJK.03/2020 concerning Financial Conglomerate that the Integrated Internal Audit Policy and Integrated
has been approved by the Board of Directors of CIMB Internal Audit Guidelines as the basis for the workings
Niaga and the Board or Directors of the Financial Services of the respective Internal Audit units at the Main Entity
Institutions as member of the CIMB Indonesia Financial (ME) and at each Financial Services Institution (FSI) as
Conglomerate on 25 November 2020. The Corporate members of CIMB Indonesia Financial Conglomerate,
Charter has been submitted to OJK on 27 November in implementing integrated supervision and monitoring
2020. functions to improve the quality of the implementation
of Integrated Internal Audit governance.
THE INTEGRATED GOVERNANCE (IG)
COMMITTEE DUTIES AND RESPONSIBILITIES OF IIA
The establishment of the Committee on Integrated 1. Monitoring and evaluating the implementation
Governance is not merely to comply with prevailing of integrated audit in each member of the CIMB
statutes, but is part of the commitments of CIMB Niaga Indonesia Financial Conglomerate;
in implementing Good Corporate Governance in a 2. Coordinating all IIA in the CIMB Indonesia Financial
professional and sustainable manner. The IGC helps Conglomerate members in accordance with their
the effective discharge of the duties of the Board of respective functions;
Commissioners of the Main Entity in overseeing the 3. Compiling the results of integrated audit from
implementation of an integrated governance within each member of the CIMB Indonesia Financial
the CIMB Indonesia Financial Conglomerate. The Conglomerate;
detailed information on IG Committee is presented in 4. Preparing and submitting the report on
the IG Committee discussion as part of the Corporate implementation of integrated audit duties and
Governance Report Section in this Annual Report. responsibilities to the appointed Director to conduct
supervision of the FSIs in the CIMB Indonesia Financial
Conglomerate, the Compliance Director of ME, and
the Board of Commissioners of ME.

Organizational Structure of IIA in CIMB Indonesia Financial Conglomerate
Board of
Commissioners Recommendation
President Director
Recommendation
Integrated Governance
Other Directors Chief Audit Executive
Committee
Integrated Internal
Integrated Internal
Audit Report
Audit Report
Integrated Internal
Audit Unit
Coordination
Internal Audit Internal Audit
In conducting its duties, the IIA of CIMB Indonesia Financial 1. Aligned the internal audit policies and procedures
Conglomerate can conduct audits on members of the with the Internal Audit (IA) of CIMB Niaga.
CIMB Indonesia Financial Conglomerate, both through 2. Conducted routine meetings of the Heads of IA from
joint audits, or based on Internal Audit reports from CIMB Indonesia Financial Conglomerate members.
the respective CIMB Indonesia Financial Conglomerate 3. Periodically monitored the CIMB Indonesia Financial
members. Conglomerate members IA plans and audit results.
INTEGRATED AUDIT IMPLEMENTATION IN 2020 INTEGRATED COMPLIANCE UNIT (ICU)

During 2020, IIA monitored and reported the Pursuant to the provisions of OJK Regulation No.
implementation of integrated internal audit to the 18/POJK.03/2014 regarding the Implementation of
Head of Internal Audit ME, the Director charged with Integrated Governance in Financial Conglomerates, CIMB
supervision of the FSIs in the CIMB Indonesia Financial Niaga’s Compliance Unit (CU) also serves as the Integrated
Conglomerate, the Compliance Director of ME, and the Compliance Unit (ICU) and supervises the compliance
Board of Commissioners of ME on a regular basis. IIA function in CIMB Indonesia Financial Conglomerate,
strive to ensure that integrated internal audit has been in coordination with the CUs of the subsidiaries. CIMB
implemented as expected by OJK through the following Niaga’s CU is an independent unit that is separate from
initiatives, among others: the operational units in the ME.

Organizational Structure of ICU in CIMB Indonesia Financial Conglomerate
Board of
Commissioners Recommendation
President Director
Recommendation
Integrated Compliance Integrated Governance
Director
Director Committee
Integrated
Compliance Report
Integrated
Compliance Unit
Coordination
Compliance Unit Compliance Unit
ICU DUTIES AND RESPONSIBILITIES 2. The ICU prepares and submits:

1. Monitoring or evaluating the implementation of a. Quarterly Integrated Compliance Report to the
Integrated Compliance in each member of the CIMB ME Director in charge of compliance function;
Indonesia Financial Conglomerate; b. Self-assessment report on the application of IG
2. Coordinating with other CUs in the CIMB Indonesia at CIMB Indonesia Financial Conglomerate on a
Financial Conglomerate members in accordance with semester basis to the IG Committee and the OJK;
their functions; c. Annual reporting on the implementation of IG to
3. Compiling the Integrated Compliance implementation OJK and publication of such report in the Bank’s
results from each member of the CIMB Indonesia Annual Report/website.
Financial Conglomerate; 3. The ME Compliance Director submits the Integrated
4. Preparing and reporting the Integrated Compliance Compliance Report on a semester basis to the Board
duties and responsibilities implementation report to of Directors and the Board of Commissioners of ME;
the Compliance Director of the ME; 4. Aligning the compliance frameworks between ICU
5. Establishing policies as guidelines for Integrated and each CU in members of the CIMB Indonesia
Compliance functions and forwarding these policies Financial Conglomerate;
to other Financial Services Institution members of the 5. Updating of internal policies and developing a number of
Financial Conglomerate. procedures that are used as references in implementing
the compliance function in an integrated manner;
IMPLEMENTATION OF INTEGRATED COMPLIANCE 6. Conducting regular coordination meetings with each
ACTIVITIES IN 2020 CU in members of the CIMB Indonesia Financial
1. Every CU in the CIMB Indonesia Financial Conglomerate and monitoring corrective actions on
Conglomerate prepares and submits a periodic compliance issues faced by each member of the CIMB
Compliance Report to the ICU; Indonesia Financial Conglomerate, including fulfillment
of follow-up actions on the audit findings of Regulator;

7. The ME and members of the CIMB Indonesia Financial Conglomerate conduct their own assessment of the
Implementation of Compliance Risk Management in accordance with internal regulations and methodologies.
Compliance Risk Profile Self-Assessment Rating Explanation

Bank CIMB Niaga 2/Low Moderate Taking into account the business activities carried out by the Bank, the possibility
of losses faced from Compliance Risk is classified as low during a certain period
of time in the future. The quality of the implementation of Composite Compliance
Risk management is moderate. In the event of a minor weakness, the weakness
can be resolved in the normal business activities.
CIMB Niaga Auto-Finance 2/Low Moderate Taking into account the business activities carried out by CNAF, the possibility of
(CNAF) losses faced from Compliance Risk is classified as low during a certain period of
time in the future. The quality of the implementation of Composite Compliance
Risk management is moderate. In the event of a minor weakness, the weakness
can be resolved in the normal business activities.
CIMB Niaga Sekuritas (CNS) 3/Moderate Taking into account that CNS business activities and organization have just
started this year, the possible losses faced from Compliance Risk are moderate
for a certain period of time in the future. The quality of the implementation of
composite Risk Management is moderate. The minimum requirements have
been met, and there are a number of weaknesses that receive the management’s
attention for improvement.
CONSOLIDATED/ 2/Low Moderate Taking into account the business activities carried out by the Financial
INTEGRATED Conglomerate, the possibility of losses faced from Compliance Risk is low during
a certain period of time in the future. The quality of the implementation of
Composite Compliance Risk management is moderate. In the event that there are
minor weaknesses, these weaknesses need management attention.
INTEGRATED RISK MANAGEMENT

Referring to POJK No. 17/POJK.03/2014 on Implementation of Integrated Risk Management for Financial Conglomerates,
the Main Entity (ME) is required to establish an Integrated Risk Management Committee (IRMC) and an Integrated
Risk Management Work Unit (IRMU) to implement comprehensive and effective integrated risk management. The
implementation of integrated risk management is carried out by taking into account the characteristics and business
complexity of each member of the CIMB Indonesia Financial Conglomerate. The process of monitoring and evaluating
the risk exposure of the CIMB Indonesia Financial Conglomerate is carried out through the IRMC and reported to the
Risk Management Committee (RMC) of the ME.
IRMC membership comprises of Risk Management Director and several related senior executives of the ME, as well
as the Directors in charge of risk management function at the respective FSI members of CIMB Indonesia Financial
Conglomerate.
In 2020, there were no changes in the membership composition of IRMC from that in the previous year, namely PT Bank
CIMB Niaga Tbk as ME and 2 (two) subsidiary entities, PT CIMB Niaga Finance dan PT CIMB Niaga Sekuritas, comprising
the CIMB Indonesia Financial Conglomerate.
IRMC MEMBERSHIP COMPOSITION IN 2020
Name Position IRMC Position

Vera Handajani Risk Management Director - CIMB Niaga Chairman
Julius W. Tjhioe Head of Operational Risk Management - CIMB Niaga Deputy Chairman I
Yulius Setiawan Head of Risk Analytics & Infrastructure - CIMB Niaga Deputy Chairman II
Antonius Herdaru Director - CIMB Niaga Finance Member
Harry M. Supoyo President Director - CIMB Niaga Sekuritas Member
Sandi Maruto Head of ALM Risk - CIMB Niaga Member
Koei Hwei Lien Head of Retail Credit Risk Management - CIMB Niaga Member
Diva Mahdi Head of Market Risk Management & Model Validation - CIMB Niaga Member
Nanang N. Sumirat Integrated Risk Management & Basel PMO Head - CIMB Niaga Secretary

Indonesia Financial Conglomerate. The authority and

DUTIES AND RESPONSIBILITIES OF IRMC
responsibilities of IRMU include, among others:
1. Provide recommendations to the ME Board of
Directors of the ME in the formulation of a Risk 1. Provide input to the ME IRMC and RMC, among others
Management Policy, including Integrated Risk in the development and implementation of Integrated
Management, Integrated Risk Management Risk Management policies and procedures.
Procedure, as well as improvement or enhancement 2. Provide information to the IRMC on issues that
of these policies and procedures based on the need to be followed up, including if there is an
evaluation of the implementation of integrated risk exceedance or a significant incident occurring in each
management. of the FSI members of the CIMB Indonesia Financial
2. Review and coordinate the evaluation result of Conglomerate that may affect the CIMB Indonesia
the integrated risk management implementation Financial Conglomerate as a whole.
including integrated risk profile reports or other 3. Perform risk monitoring at the CIMB Indonesia
reports generated from the integrated risk Financial Conglomerate based on the results of the
management information system. risk profile assessment of each FSI member of CIMB
Indonesia Financial Conglomerate as well as the
Regulation for the IRMC work guidelines are further integrated risk profile.
stipulated in the IRMC Term of Reference (TOR). 4. Develop and review the accuracy of the risk profile
assessment methodology on a regular basis or at any
ACTIVITY REPORT OF INTEGRATED RISK time in the event of changes in relevant regulations.
MANAGEMENT IN 2020 5. Prepare and submit the integrated risk profile and
In 2020, the following activities in integrated risk minimum capital adequacy reports on a regular basis
management have been conducted: to the Risk Management Director, the IRMC and the
1. The IRMU of ME coordinates the submission RMC at the Bank as the ME, prior to submission to the
of Integrated Risk Profile Reports from each regulator.
IRMU member of the CIMB Indonesia Financial
Conglomerate to the regulator on a semester basis. The IRMU carries out a monitoring process on the
2. The IRMU, together with the Finance Unit, submitted integrated risk management implementation. The
the Minimum Capital Adequacy Requirement Report monitoring process result regarding risk exposure are
every semester to regulators. Prior to this, the report then reported and evaluated by the IRMC and reported
is submitted to the IRMC for recommendations, to the RMC of the ME in line with efforts by the IRMU
before approved by the RMC of the ME. to comply with regulatory requirements regarding the
3. Coordinated the integrated risk management implementation of risk management, during 2020 the
implementation by the ME to FSI members of the following initiatives have been implemented:
CIMB Indonesia Financial Conglomerate, carried out 1. Periodic review of risk management policies and
on a regular basis with the IRMU of each FSI member procedures that serve as guidelines and references in
of the CIMB Indonesia Financial Conglomerate. the implementation of integrated risk management.
4. Submission of the results of the Integrated Risk 2. Review of the methodology used in the risk profile
Profile Report to all IRMC members to obtain self-assessment process of each FSI member of the
recommendations before approved by the RMC of CIMB Indonesia Financial Conglomerate (at least once
the ME. a year).
5. There are no significant incidents that occur in each 3. Prepare and submit the integrated risk profile and
of the FSI members of CIMB Indonesia Financial minimum capital requirement report on a regular
Conglomerate that could affect the overall risk profile basis to the IRMC and the RMC at the ME, for
of CIMB Indonesia Financial Conglomerate. subsequent submission to the regulators.
4. Conduct an annual risk assessment as part of the
INTEGRATED RISK MANAGEMENT UNIT robust ICAAP (Internal Capital Adequacy Assessment
(IRMU) Process) of the Bank. The annual risk assessment is
In performing their duties, CIMB Niaga’s IRMC is conducted by involving all units in the Bank and its
supported by the IRMU, which coordinate the risk subsidiaries, with the aim of calculating the capital
management work unit of each FSI member of the CIMB requirements for risks outside of Pillar I that cannot
be quantified.

Organizational Structure of IRMU in CIMB Indonesia Financial Conglomerate
Board of
Commissioners
President Director
Recommendation
Risk Management Integrated Risk
Other Directors
Director Management Committee
Integrated Risk
Profile Report
Integrated Risk
Management Unit Integrated Risk
Profile Report
Coordination
Risk Management Unit Risk Management Unit
5. Encourage the availability of risk reports, policies Intragroup transaction risk may arise from, among
and procedures and limits on CIMB Niaga Sekuritas, others:
as the newest subsidiary, which are aligned with the 1. Cross ownership among FSIs in a financial
implementation of risk management in the ME. conglomerate.
2. Centralized short-term liquidity management.
Further information on the implementation of integrated 3. Collateral, loans, and commitments provided or
risk management is presented in the Risk Management obtained by a FSI from another FSI in a financial
Report section of this Annual Report. conglomerate.
4. Exposures to the ultimate shareholders, including
INTRAGROUP TRANSACTIONS POLICY loan and off-balance sheet exposures such as
Intragroup transaction risk is one of the risks related to collateral and commitments.
Integrated Risk Management implementation that must 5. Purchase or sale of assets to other FSIs in a financial
be managed. Intragroup transaction risk arises due to the conglomerate.
dependence of an entity, either directly or indirectly, to 6. Transfer of risk through reinsurance.
another entity within a financial conglomerate, in order 7. Transactions to transfer third party risk exposures
to meet written and unwritten agreements, whether between FSIs in a financial conglomerate.
followed by a transfer of funds and/or not followed by a 8. Business cooperation or cross-selling in the form of
transfer of funds. incentives or fees between FSIs.

In the context of active supervision, the Board of profile reporting. Until the end of 2020, the risk profile of
Commissioners and the Board of Directors receive regular intragroup transactions was still considered low, where the
reports regarding intragroup transactions. Adequate significance of intragroup transactions to the total assets
policies and procedures for managing intragroup of the CIMB Indonesia Financial Conglomerate was still
transactions have been compiled at each of the FSI. At the insignificant.
ME, these policies include Risk Management Policy, Policy
regarding Legal Lending Limit (LLL), and Subsidiary Equity
IG IMPLEMENTATION ASSESSMENT REPORT
Participation Policy. Clarity of authority and responsibility
has also been properly regulated under the authority of
METHOD OF IG IMPLEMENTATION ASSESSMENT
the Director of Finance & SPAPM.
In accordance with SEOJK No. 15/SEOJK.03/2015 on
Implementation of Integrated Governance for Financial
In the intragroup transaction risk management
Conglomerates, self-assessment of the implementation
process, the ME has identified, measured, monitored
of IG is conducted every semester, involving the
and controlled the risk of composition and fairness of
evaluation of 3 (three) aspects of IG (Structure, Process
transactions between members of the CIMB Indonesia
and Outcome) on the 7 (seven) IG Implementation
Financial Conglomeration. On a regular basis, the Finance
Evaluation Criteria, as follow:
Unit and the IRMU monitor the risk of composition
1. Implementation of duties and responsibilities of ME’s
of intragroup transactions to ensure compliance with
Board of Directors;
limits, such as LLL, as well as the principle of fairness of
2. Implementation of duties and responsibilities of ME’s
transactions.
Board of Commissioners;
3. Duties and responsibilities of IG Committee;
The dependence between FSI members of the CIMB
4. Duties and responsibilities of ICU;
Indonesia Financial Conglomeration is still considered
5. Duties and responsibilities of IIAU;
very low or limited, which can be seen from, among
6. Implementation of Integrated Risk Management; and
others, the absence of centralized liquidity management,
7. Formulation and implementation of IG Guidelines, as
non-binding intragroup support, the very low level of
well as observance of other information related to IG.
transaction operations in which one company acts
with or on behalf of another company in the CIMB
Assessment on the implementation of IG is performed
Indonesia Financial Conglomerate, and the immaterial
with due consideration to the significance and materiality
amounts in intragroup asset purchase or sale. In
of each criteria in the IG assessment, and the impact of
terms of documentation and transaction fairness, the
the strengths and weaknesses of IG implementation
documentation of the intragroup transaction agreement
in Financial Conglomerates. The self-assessment of IG
is very adequate and all transactions are carried out
implementation is performed by members of the IG
based on the arm’s length principle and in accordance
Committee and the IRM Committee, by evaluating the
with applicable regulations. The exposure to controlling
adequacy of structure, process and outcome of each
shareholders to total capital and exposure arising from
respective assessment criteria.
the placement of customer assets with other companies
in the CIMB Indonesia Financial Conglomerate is also
Further, in the self-assessment of IG implementation, the
insignificant.
Bank as ME also considers data and other information
obtained from other work units such as Risk Management,
In addition, the implementation of an independent review
Internal Audit Unit, Corporate Affairs, Human Resources,
is carried out by Internal Audit unit in accordance with the
and Anti-Fraud Management, as well as work units in the
business scale and complexity of the intragroup transaction.
Bank’s subsidiaries, which are used as a validating factor
in the assessment on the implementation of IG at CIMB
The risk of intragroup transactions within the CIMB
Indonesia Financial Conglomerate.
Indonesia Financial Conglomerate is identified, managed
and reported regularly together with the integrated risk

IG IMPLEMENTATION ASSESSMENT RESULT

The result of the IG implementation assessment for the period of Semester I and II of 2020, is as follows:
Result of Assessment on Implementation of Integrated Governance

Rating Rating Definition
2 (GOOD) The Financial Conglomerate is considered to have implemented IG that is generally good, as reflected in the
adequate fulfillment of the application of IG principles.
CIMB Indonesia Financial Conglomerate is considered to have implemented IG, which is generally good on the 7 IG
assessment factors. This is reflected in the adequate fulfillment of the three aspects of IG, namely structure, process
and outcome. The completeness and effectiveness of the implementation of adequate IG structure and infrastructure
resulted in outcomes for the implementation of IG, which were generally good in the CIMB Indonesia Financial
Conglomerate. This can be seen, among others, through the implementation of the duties and functions of IG Committee
and IRM Committee supported by the implementation of the ICU function, the IIA function and the IRMU function, as
well as the alignment of the framework in implementing internal control systems, risk management and compliance.
CIMB Indonesia Financial Conglomerate conducts a self- assessment of the effectiveness of IG principles every semester
and identifies weaknesses in the implementation of the IG processes. These are generally less significant and can
be resolved by normal business actions by the ME and/or Financial Services Institution members of CIMB Indonesia

SHARIA BUSINESS UNIT

GOVERNANCE REPORT
IMPLEMENTATION OF SHARIA GOVERNANCE LEGAL BASIS
POLICY 1. Republic of Indonesia Laws regarding Limited Liability
The Sharia financial industry has shown quite a Companies and Sharia Banking.
remarkable development in Indonesia over the past 2. Financial Services Authority (OJK) and Bank Indonesia
several decades. A number of achievements have been Regulations, OJK and Bank Indonesia Circular Letter
accomplished that is evident from the variety of products, related to Sharia Commercial Banks and Sharia
the adequate regulatory frameworks, and the growing Business Units.
number of customers and businesses that are active in 3. Articles of Association of CIMB Niaga.
the sharia financial industry.
GCG PRINCIPLES
With the community’s growing demand for sharia-based CIMB Niaga’s SBU is committed to improving the GCG
financial products and services, more and more financial implementation related to the success and sustainability
institutions are providing financing and financial services of its sharia business. The sharia-based financial business
based on the Sharia principles. To satisfy this demand, management is expected to make a positive contribution
CIMB Niaga has established a Sharia Business Unit (SBU) to all stakeholders. CIMB Niaga’s SBU business activities
that offers many Sharia financial products and services is based on five key foundations, namely:
as an effort to meet the needs of the community and 1. Transparency: Transparency in presenting material
develop the Islamic economy in Indonesia. and relevant information, and transparency in the
decision-making process.
CIMB Niaga SBU is fully committed to be a Commercial 2. Accountability: Clarity and accuracy in presenting
Bank that is based on the sharia principles and is constantly information regarding the management of the Bank
true to its beliefs, while give benefit for all stakeholders. that runs effectively in accordance with the objectives.
Being a financial intermediary institution that raise 3. Responsibility: Consistent Bank management in
funds as savings from the public and redistribute in into accordance with all prevailing rules and regulations
financing, CIMB Niaga SBU has become a significant part and the principles of sound SBU management.
of the engine of economic growth. 4. Professionalism: Being competent, being able to act
objectively and free from influence/pressure from
CIMB Niaga SBU continues to improve the quality of its any party and having high commitment in developing
services, products and operations, including its Sharia the Sharia business.
Governance that encompasses the implementation of 5. Fairness: Fairness and equality in fulfilling the rights
Good Corporate Governance (GCG) and its compliance and interests of stakeholders in accordance with
with Sharia principles. prevailing rules and regulations.
SHARIA GCG SELF ASSESSMENT

The self-assessment on the implementation of GCG is carried out by the Bank to measure the results of GCG
implementation of the past one year as stipulated by the regulator. The assessment is regularly conducted by sends
out questionnaire to respondents which include the Sharia Supervisory Board, the Board of Directors and Executive
Officers. In 2020, the results of the GCG self-sssessment of CIMB Niaga’s SBU are as follows:

Factor Weight Rating Score

Execution of Duties and Responsibilities of the SBU Director 35% 1.22 0.40
Execution of Duties and Responsibilities of the Sharia Supervisory Board (SSB) 20% 1.25 0.25
Execution of Sharia Principles in Funding and Financing Activities as well as Services 10% 2.56 0.24
Financing to Core Customers and Funding from Core Customers 10% 2.29 0.23
Transparency of Financial and Non-financial Conditions, Report of GCG Implementation 25% 1.70 0.42
and Internal Reporting
Composite Index 100% 1.54
Description:
Composite Index Attribute

Composite Index >1.5 Very Good
1.5 ≤ Composite Index < 2.5 Good
2.5 ≤ Composite Index < 3.5 Fair
3.5 ≤ Composite Index < 4.5 Poor
4.5 ≤ Composite Index ≤ 5 Very Poor
STRUCTURE AND MECHANISM OF THE The SSB members are appointed and approved by the
SHARIA GOVERNANCE OF CIMB NIAGA SBU General Meeting of Shareholders (GMS) after obtaining
recommendations from the National Sharia Council –
GCG STRUCTURE OF CIMB NIAGA SBU Majelis Ulama Indonesia (DSN-MUI) and obtaining the Fit
CIMB Niaga SBU’s GCG structure consists of the SSB and and Proper Test approval from OJK.
SBU Directors who establish several Groups for carrying
out CIMB Niaga SBU business operations as stated in the SSB CHARTER
Bank’s Organizational Structure in this Annual Report. CIMB Niaga SBU has the SSB Charter that is periodically
The Bank’s SBU Sharia governance bodies carry out reviewed and updated with improvements as well as
their duties and responsibilities in accordance with their to align with the laws and regulations prevailing in
respective functions. Indonesia. This Charter serves as the SSB guidelines,
standards and code of ethics to enable the SSB to perform
SHARIA GOVERNANCE MECHANISM its daily functions, duties and responsibilities, and quality
CIMB Niaga’s commitments to implementing Sharia standards for the management and administration of the
Governance in the SBU are observed in daily business SSB, SBU and other related parties. The SSB Charter was
operations. All SBU bodies and their supporting units will last updated in 2018.
respect their respective functions and roles in accordance
with the relevant regulations and policies, and are The SSB Charter governs the following:
expected to increase sharia governance implementation 1. Purpose
on an ongoing basis from year to year. 2. Duties and Responsibilities
3. Membership
SHARIA SUPERVISORY BOARD (SSB) 4. Work Mechanism and Plan
The Sharia Supervisory Board (SSB) is charged with 5. Work Ethics and Working Hours
providing advice and recommendations to the Board 6. Remunerations and Benefits
of Directors and overseeing the Bank activities in 7. Meetings and Minutes of Meetings
accordance with Sharia Principles. In carrying out their 8. Assessment and Accountability of Performance
duties, SSB has the authority to supervise, monitor, 9. Units that Support SSB Duties and Responsibilities
provide sharia opinions, approve and closely monitor all 10. Reporting
SBU activities in accordance with the Sharia Principles.

CRITERIA FOR SSB d. Have never been convicted for committing a

Based on the Bank’s SSB Charter, SSB members must crime that was detrimental to the state finances
meet the following requirements: and/or related to the financial sector;
1. Integrity that at least to include: e. Have never been a member of the Board of
a. Having a good character and morals; Directors and/or Board of Commissioners who
b. Capable to take legal actions; during their tenure:
c. Having a commitment to fully comply and i. Have failed to organize an Annual GMS;
implement with professionalism the SSB Charter, ii. Have had their accountability disapproved
Sharia banking provisions, and all prevailing laws by the GMS or have failed to provide
and regulations; accountability as a member of the Board of
d. Having commitment to the development of a Directors and/or Board of Commissioners to
sound and solid Sharia banking; the GMS;
e. Not being listed in the List of Not Passed the Fit iii. Have caused a company that has obtained
and Proper Test as governed by the OJK provisions the permit, approval or registration from OJK
on Fit and Proper Test. to fail to submit the Annual Report and/or
f. Have never committed fraud, embezzlement, Financial Report to the OJK.
and/or irregularities in the banking sector, finance
sector, and other business sector, and has never STRUCTURE, COMPOSITION AND TERM OF OFFICE
been convicted of a crime committed (proven by OF SSB MEMBERS
a personal statement). As stipulated in the SSB Charter, the minimum number
2. Competence, at least having knowledge and of SSB members is 2 (two) persons with a maximum of 3
experience of Sharia Mu’amalah and knowledge in (three) persons, led by a Chairman appointed from one
banking and/or finance in general. of the SSB members.
3. Reputation, at least within the last 5 (five) years prior
to being nominated and during their tenure: The Bank’s SSB members have the ability to carry out
a. Not being included in the Black List and OJK list of their mandated duties and responsibilities, and have
non-performing loans; adequate understanding and competence to carry out
b. Have never been declared bankrupt; their duties and responsibilities properly, and encourage
c. Have never served as a shareholder, member of a the SBU of CIMB Niaga performance improvement.
Board of Commissioners, or a member of a Board
of Directors of a Company and/or a member of The term of office of the SSB member is stipulated in the
the management of a business entity that has SSB Charter and shall be effective from the date specified
been found guilty of causing a company and/or at the GMS appointing them until the close of the 4th GMS
business entity to be declared bankrupt; after the date of their appointment without prejudice
to the right of the GMS to dismiss them at any time in
accordance with the Articles of Association and prevailing
regulations, and can be reappointed with due regard to
the applicable provisions.

COMPOSITION OF THE SHARIA SUPERVISORY BOARD IN 2020
Term of Office
No Name Position GMS Latest Re- Term of

BI/OJK Approval
Appointment appointment Office
Chairman
Prof. Dr. M. Quraish Shihab, AGM No. 11/260/DPbS dated AGM
1 concurrently 2019-2022
MA 23 April 2008 11 February 2009 15 April 2019
Member
Prof. Dr. Fathurrahman EGM No. 11/260/DPbS dated AGM 2019-2022
2 Member
Djamil, MA 19 December 2008 11 February 2009 15 April 2019
Dr. Yulizar Djamaluddin AGM No. 15/825/DPbS dated AGM 2019-2022
3 Member
Sanrego, M.Ec 28 March 2013 10 June 2013 15 April 2019
FIT AND PROPER TEST

The SSB Charter stipulates that members of SSB are appointed by the General Meeting of Shareholders (GMS) and are
only effective when the appointment has been approved by OJK as stipulated in PBI No. 11 of 2009 concerning Sharia
Commercial Banks, and OJK Regulation No. 27/POJK.03/2016 concerning Fit and Proper Test for Key Parties in Financial
Services Institutions stipulates that prospective members of SSB must obtain approval from OJK before carrying out any
actions, duties, and functions on the Sharia Supervisory Board.
All members of the SSB of CIMB Niaga SBU have passed the fit and proper test, without qualification, and have been
approved by OJK, indicating that all members of the SSB have the integrity, competence and impeccable financial
reputation.
SHARES OWNERSHIP
No members of the SSB of the Bank have shares in the Bank, other financial institutions or other companies.
CONCURRENT POSITIONS OF SSB MEMBERS

Based on BI Regulation No.11/10/PBI/2009 regarding Sharia Business Units article 11 paragraph 3, SSB members
can hold concurrent positions as SSB members at most in 4 (four) other Sharia financial institutions, which has been
stipulated also in the Bank SSB Charter. The concurrent positions of members of the Bank’s SSB have met the above
requirements.
Information on the concurrent positions of members of the SSB of CIMB Niaga are available in each SSB member’s
profiles in the Company Profile Section of this Annual Report.
DUTIES AND RESPONSIBILITIES OF THE SSB

The SSB has the duties and responsibilities to provide advice and recommendations to the Director in charge of the SBU,
and to oversee SBU activities in accordance with Sharia Principles. The scope of SSB’s oversight over the SBU includes:
1. Assessing and ensuring compliance with Sharia Principles regarding the Sharia operational and product guidelines
issued by the Bank;
2. Overseeing the Bank’s process of new product development that relates to Sharia in accordance with the DSN-MUI
fatwa;
3. Providing Sharia opinions regarding new Sharia related products and/or restructured financing with reference to
DSN-MUI fatwa and provisions governing the implementation of Sharia Principles and business activities of the SBU;
4. Requesting a fatwa from DSN-MUI for the Bank’s new Sharia-related products that do not yet have a fatwa;
5. Periodically reviewing the compliance with Sharia Principles concerning the mechanism for fund raising and fund
disbursement and SBU services;
6. Requesting data and information related to Sharia aspects from the Bank’s operating units that perform and/or
relate to Sharia activities in the context of conducting their duties; and
7. Performing duties and responsibilities in accordance with the principles of Good Corporate Governance.

CONFLICT OF INTEREST MANAGEMENT IN THE SSB 5. SSB members who resign before their terms of office
The SSB Charter regulates conflict of interest pursuant to expire, accountability can still be requested for the
OJK Regulation No.55/POJK.03/2016 Chapter X Article 63 execution of their duties from their last accountability
that stipulates if there is a conflict of interest, members up to the effective date of resignation, at the following
are not allowed to take action that may result in a loss for Annual GMS.
the Bank or reduce the Bank’s profit and must disclose 6. Dismissal and/or resignation of SSB members must
the conflict of interest in every decision. be reported to OJK no later than 10 (ten) calendar
days from the effective dismissal and/or resignation.
The procedures that must be followed by members of
the SSB in the event of a conflict of interest are as follows: PERFORMANCE ASSESSMENT OF THE SSB
1. They are obligated to immediately report in writing Assessment on the performance of the SSB duties and
to the Board of Commissioners of all matters responsibilities is reported in the AGM, and is regulated
that have the potential to create and/or contain as follows:
conflicts of interest that have significant financial 1. At the beginning of the year, SSB and Sharia Banking
and reputational impact on the Bank, the Board of Director establish Work Plans and Key Performance
Commissioners, the SSB and the Board of Directors. Indicator (KPI) to be approved by the Board of
2. Not permitted to participate in the process of Commissioners;
evaluating any activities that have potential conflict of 2. The assessment and measurement over the
interest. performance of members of the SSB is based on the
3. Allowed to attend meetings, but are not allowed to results of the execution of their duties against the
participate in decision-making. realization and achievement of the Work Plan;
3. Assessment on the SSB performance is carried out as
RESIGNATION AND DISMISSAL OF SSB MEMBERS follows:
The SSB Charter governs the procedure of resignation a. The assessment covers a period of 1 (one) year;
and dismissal of members as follows: b. In the first stage, members of the SSB perform
1. A member of SSB has the right to resign from their self-assessments (towards the achievement of
position through written notification regarding KPIs and other metrics);
their intention to the Bank prior to the resignation c. In the second stage, the Nomination and
becoming effective. Remuneration Committee discusses the SSB
2. The Bank is required to hold a GMS at the latest 90 performance self-assessment results to be used as
(ninety) days after receipt of the written notice for recommendation to the Board of Commissioners and
resignation from the SSB member. to be determined by the AGM.
3. The Bank is required to disclose information to 4. Report on the performance assessment and
the public and report it to OJK no later than 2 (two) accountability of the SSB against the realization
working days after receipt of the written notice for of the Bank’s Work Plan is submitted to the Sharia
resignation of the SSB member. Banking Director to be approved and submitted to
4. If the resignation results in the number of SSB the Nomination and Remuneration Committee and
members being less than the minimum number as the Board of Commissioners through the Nomination
stipulated in the prevailing laws and regulations, the and Remuneration Committee Secretary with a
Bank is required to appoint new SSB members in copy to the Corporate Secretary of the Bank which
accordance with the procedures for appointing SSB is conducted twice a year (June and December) no
members. later than 2 (two) months after the reporting month
to be subsequently set forth in the Annual Report,
and submitted at the GMS for submission to the
authorities according to the prevailing laws and
regulations.

MEETINGS OF THE SSB

The CIMB Niaga SSB meetings are held at least once a month, and attended by all members of SSB and the Sharia Banking
Director with the main topics being strategic and operational policies and decision-making, oversight functions, and
advice or recommendations on sharia banking matters to the Board of Directors and SBU Management, in accordance
with Sharia principles. All decisions that are documented in the minutes of meetings represent the consensus of
meetings and the decision-making process could also involve the DSN – MUI, if necessary.
In 2020, due to the COVID-19 and the Work From Home (WFH) implementation, most of the meetings of the SSB were
held virtually. SSB held 12 (twelve) regular meetings with attendance as shown in the following table:
Average Rate of
Name Attendance Frequency Rate of Attendance
Attendance
Prof. Dr. M. Quraish Shihab, MA 12 100%
Prof. Dr. Fathurrahman Djamil, MA 12 100% 97%
Dr. Yulizar Djamaludin Sanrego, M.Ec 11 91.67%
In addition to the regular meetings, there were also exit-meeting reviews on Sharia compliance, as well as sharing
sessions and consultations between SBU and SSB as follows:
Date Topic
23 January 2020 Exit Meeting Review on Sharia Compliance of iB Commercial Financing & SME Financing, Jakarta Area
18 May 2020 Exit Meeting Review on Sharia Compliance of iB Mortgage Financing, Balikpapan Area
16 June 2020 Exit Meeting Review on Sharia Compliance of iB Linkage Financing, Balikpapan & Mataram Areas
29 September 2020 Exit Meeting Review on Sharia Compliance of iB Current Account Financing Product
1 October 2020 Continuation of Exit Meeting Review on Sharia Compliance of iB Current Account Financing Product
12 November 2020 Exit Meeting Review on Sharia Compliance of iB Xtra Dana
12 November 2020 Exit Meeting Review Kepatuhan Syariah Produk Xtra Dana iB
ACTIVITIES OF THE SHARIA SUPERVISORY BOARD IN 2020

The SSB submits its Oversight Report to the Management of CIMB Niaga once in every 6 (six) months. The Oversight
Report is then forwarded to OJK by Management.
In 2020, reporting by SSB to OJK is as follows:
Period Reference Date

Semester I 056/PD/UUS/VIII/2020 7 August 2020
Semester II 008/PD/UUS/II/2021 8 February 2021
Throughout 2020, SSB has realized the following work programs:

1. Convened 12 (twelve) regular meetings to discuss new products, features, programs, operational guidelines,
financing/funding models, financing proposals, risk profile, financial performance, benevolence funds and ZIS, and
others.
2. Attended Ijtima Sanawi/Annual Meeting of the Supervisory Boards of Sharia Financial Institution, the Sharia Banking
Sector, 2020 that was organized by DSN-MUI.
3. Convened Coordination Meeting with the Risk Management Director, Compliance Director and the Internal Audit.

4. Reviewed Sharia compliance through financial sampling, funding and services transaction sampling tests for iB
Mortgage Financing, Fund Raising and Services at Sharia branch and Office Channeling, iB Linkage Financing, iB
Current Account Financing, iB Xtra Dana Product, Commercial Banking and SME financing in the Jakarta area.
5. Conducted 7 (seven) meetings to discuss the Sharia compliance review results with related units.
6. Submitted the SSB Oversight Report for the periods of:
a. Semester II of 2019 submitted in February 2020;
b. Semester I of 2020 submitted in August 2020.
7. Contributed to Sharia GCG through the 2020 GCG Self-Assessment in accordance with the applicable provisions.
8. Discussed and formulated the IG Committee membership with all SSB affiliated companies in the CIMB Indonesia
9. Actively contributed to the IG Committee Membership in accordance with the applicable provisions.
SHARIA BANKING DIRECTOR

The CIMB Niaga SBU is led by the Sharia Banking Director who is fully responsible for the implementation of sharia
business management based on the prudential principles and sharia principles. In 2020, the Sharia Banking Director
is Pandji P. Djajanegara, who was appointed through the AGM Resolution dated 15 April 2016 and approved by OJK
through Letter No.SR-27/PB.13/2016 dated 4 October 2016.
PROFILE OF THE SHARIA BANKING DIRECTOR
1. Having good integrity, competence and financial

PANDJI P. DJAJANEGARA reputation as required by prevailing regulations;
SHARIA BANKING DIRECTOR
2. Having a commitment to the development of sound
Complete profile is presented Sharia banking operations;
in the Board of Directors’
3. Having sufficient knowledge and understanding of
Profiles in this Annual Report.
Sharia banking operations;
4. Having knowledge and expertise of banking
operations, Sharia banking, finance or Sharia finance;
5. Has the ability to carry out strategic management in
the framework of developing a sound and resilient
SBU.
CRITERIA Detailed information related to Sharia Banking Director

The criteria for the Sharia Banking Director is based on is available in Board of Directors Sub-section in Good
Bank Indonesia Regulation (PBI) No. 11/10/PBI/2009 Corporate Governance Report Section of this Annual
concerning Sharia Business Units, PBI No. 14/6/PBI/2012 Report.
concerning the Fit and Proper Test for Sharia Banks and
Sharia Business Units, and BI Circular No. 14/25/DPbS
concerning the Fit and Proper Test for Sharia Banks and
Sharia Business Units. The criteria that must be met by
candidates for Sharia Banking Director, includes:
LIST OF CONSULTANTS AND ADVISORS
No Consultant Service
1 Karimsyah LawFirm Law & Legal MMIA Consultants
2 EY (Persek PSS Consult) Tax Consultants & IMBT Accounting Treatment

INTERNAL FRAUD & SETTLEMENT EFFORTS

In 2020, there were no internal fraud of more than Rp100,000,000.00 (one hundred million Rupiah) as reported by the
Internal Audit and Anti-Fraud Management.
Total Cases Commited by

Board of Commissioners Non-Permanent
Internal Fraud Case Permanent Employees
and Board of Directors Employees
2020 2019 2020 2019 2020 2019
Resolved - - 1 1 - -
In the process of Internal resolution - - - - - -
Unresolved - - - - - -
Has been followed up in Legal Process - - - - - -
Total Fraud - - 1 1 - -
LEGAL ISSUES (CIVIL AND CRIMINAL) AND SETTLEMENT EFFORTS

In 2020, the legal issues faced by the SBU of CIMB Niaga involve only civil suits and not criminal charges as the following
table shows:
Criminal (Bank as Reported) Civil (Bank as Defendant)

Legal Issues
2020 2019 2020 2019
Settled Cases (final and legally binding) - - 1 2
In the Settlement Process - - 7 4
Total Cases - - 8 6
TRANSPARENCY OF FINANCIAL AND NON-FINANCIAL CONDITIONS

Transparency of financial and non-financial conditions of the SBU was carried out together with the Bank as described
in the Corporate Governance Report Section on this Annual Report.
NON HALAL REVENUE AND UTILIZATION

In 2020, no Non-halal revenue was generated.
DONATIONS FOR SOCIAL ACTIVITIES

In 2020, CIMB Niaga SBU collaborated with humanitarian social institutions, religious institutions and educational
institutions to organize 227 (two hundred and twenty-seven) programs with a total funding of Rp6,775,975,628. The
funds were distributed to 5 (five) donation categories, as follows:
Distribution Sector Number of Activities Donation (Rp)

Economic Empowerment 11 235,770,000
Education 49 1,467,817,500
Infrastructure 64 1,425,145,000
Health 20 1,505,646,128
Social 83 2,141,597,000
Total 227 6,775,975,628

Several featured programs in collaboration with partner institutions were divided into five areas of Qardhul Hasan Fund
distribution in 2020, which included:
Economic Empowerment
• Working capital aid program for the SME business – Bintaro Tangerang in cooperation with Masjid Raya Bintaro Jaya
Foundation
• Bunda Mart program to provide working capital aid for several SME in Surabaya, in cooperation with Yatim Mandiri
Surabaya Foundation
• Program to provide equipment for a small business that produces honey dates pie in Surabaya, in cooperation with
DT Peduli
Education
• Scholarship program for school-age children and learning facilities for children of waste collector in Aceh, in
cooperation with the Organization of the Educational Garden for Smart Children of Waste Collector
• Scholarship program for under-privileged girl students of Islamic school in Banjarmasin, in cooperation with the
Ponpes Darul Hijrah Putri Martapura of South Kalimantan
• Scholarship program for under-privileged university students in Padang, in cooperation with the Muhammadiyah
University, Padang
• Donation of the Holy book of Al Qur’an for several Pesantren (Islamic school) in the Bantung area, in cooperation
with the Indonesian Associate of Publisher, West Java chapter.
Infrastructure
• Construction of a bore well in the Dologan Village, Boyolali, in cooperation with the Aksi Cepat tanggap (ACT).
• Development of the Miftahul Hidayah Mosque in the Kampar Riau area, in cooperation with Ponpes Islamic Center Al
Hidayah Kampar.
• Renovation of dilapidated houses for families living below the poverty line in the West Bandung area, in cooperation with
Rumah Zakat Indonesia.
Health
• Maintenance of halfway houses of Sasana Marsudi Husada in the Jakarta area, in cooperation with the Indonesian
Cancer Foundation
• Health care program for retired CIMB Niaga employees in cooperation with the Family Association of CIMB Niaga
Retirees
• Donation of ambulance for emergency responses in and around Solo in cooperation with the Indonesian Red Cross
Foundation of Surakarta, and the donation of another ambulance for community health care services in Puncak Sari
Village in cooperation with the village institution.
Social
• Donation of staple goods and cash for communities impacted by COVID-19 in cooperation with social foundations
such as Al Azhar Peduli, DT Peduli, Asbisindo, Badan Wakaf Al Quran and Baznas.
• Relief aids for the flood disaster in Jabodetabek in cooperation with several social foundations such as IZI and PPPA
Daarul Quran Nusantara.
• Donation of sewing machines and working capital for a home-scale convection business of the Pondok Pesantren
Bani Sawiyah Foundation in Bandung area.
• Provision of 98 goats to 25 CIMB Niaga Sharia branch offices, the meat of which was distributed to members of the
surrounding communities.

TRANSPARENCY ON
BAD CORPORATE GOVERNANCE PRACTICES
In line with CIMB Niaga’s commitment to implement Good Corporate Governance, up to the end of 2020, CIMB Niaga
has not performed any actions or policies related to the practice of Bad Corporate Governance, described as follow:
No. Description Practice

1 Being reported as a Company that pollutes the environment Nil
2 Significant legal proceeding currently involving the company, subsidiaries, members of the Board of Directors and/or Nil
members of the Board of Commissioners that are not disclosed in the Annual Report
3 Non-compliance in meeting tax liabilities Nil
4 Mismatch between the presentation of the Annual Report and the Financial Statements with applicable regulations Nil
and the Financial Accounting Standards
5 Labor and employment cases Nil
6 No disclosure of operating segments in the Financial Statements Nil
7 Discrepancies between hardcopy and softcopy of the Annual Report Nil
DECLARATION OF IMPLEMENTATION OF
GOOD CORPORATE GOVERNANCE PRINCIPLES
All CIMB Niaga management and employees, declare that in carrying out its business activities, the principles of Good
Corporate Governance have been implemented and no material violations of applicable laws and regulations have been
committed. Further, CIMB Niaga always implements the principles of Governance in accordance with the principles of
the ASEAN Corporate Governance Scorecard. CIMB Niaga is committed to continuously improving its Good Corporate
Governance practices in a transparent, accountable, responsible, and independent manner, with due observance to
equality, fairness and sustainability in striving to achieve the targeted Bank Business Plan.
Didi Syafruddin Yahya Tigor M. Siahaan

President Commissioner President Director




Corporate
Social
Responsibility
The Governance of Social Responsibility 674
towards Fair Business Practices
on Human Rights
on the Environment
Corporate Social Responsibility on the Practice of 693
Employment, Occupational Health, and Safety
towards Consumers
Corporate Social Resposibility 702
for Social and Community Development

CORPORATE SOCIAL
RESPONSIBILITY
CIMB Niaga is fully aware that the success of business The implementation of CSR by CIMB Niaga has a clear
performance does not depend on the Bank’s goal, which is to make a positive contribution towards
Management and operation performance alone, but is advancing social conditions and communities by
also highly dependent on support from the communities undertaking effective programs with gradual long-
in which the Bank operates, where business and social term benefits. The Bank develops these programs on a
interactions occur constantly between the Bank and continuous basis with the aim of achieving the CSR goals
the communities. As such, CIMB Niaga places great that are ideal, objective and well targeted.
importance on the implementation of Corporate
Social Responsibility (CSR), as an activity that builds The CSR activities of CIMB Niaga throughout 2020 were
harmonious and mutually beneficial relationships with undertaken by adjusting and adapting to the COVID-19
the environment, communities, the general public and pandemic situation. CSR activities that involve the general
other stakeholders whether local, national or global. In public such as financial literacy and inclusion were carried
addition, CSR also aims to support the Bank to achieve out online and broadcast in animated educational video
its sustainable finance mission, which is to conduct on health protocols. This program consisted of the AMDB
sustainable business activities that result in continuous (Let’s Save and Share) and TDB (Tour de Bank) programs
and integrated growth. that are targeted at students.
CIMB Niaga showed innovation in the Community Link

Program that has also been delivered online.

THE GOVERNANCE OF
SOCIAL RESPONSIBILITY
COMMITMENTS AND POLICIES ON SOCIAL RESPONSIBILITY
The business continuity of CIMB Niaga is strongly tied to the realization of stakeholders’ expectations. As such, a
harmonious relationship between CIMB Niaga and its stakeholders should enhance the performance of the Bank. To
that end, CIMB Niaga carries out its commitments and policies on CSR activities that support the Bank in achieving its
sustainable finance vision and mission.
VISION
SUSTAINABLE FINANCE
To be the Leading ASEAN Company that embraces the harmony of economic, social and environmental aspects
MISSION
SUSTAINABLE FINANCE
Conduct sustainable business activities that result in continuous and integrated growth
The Bank’s Sustainable Finance Vision and Mission received the approval of the Board of Directors on 4 September 2018
and the Board of Commissioners on 21 November 2018. These Vision and Mission statements will be reviewed annually
to ensure their relevance to the Bank’s latest developments and condition. The Management last reviewed the Vision
and Mission statements on 3 October 2020.
The scope of CIMB Niaga’s CSR programs is classified into four main focuses in accordance with the Sustainable Finance
Vison and Mission, which are:
Development and
Education Empowerment Philanthropy Environment
CIMB Niaga has also set several Sustainable Development Goals (SDGs) as its key priorities to support the Sustainable
Development Goals achievement in Indonesia, as follows:
Impact
Direct
Indirect
Impact
CIMB Niaga is committed to undertaking its CSR programs transparently and in line with prevailing code of ethics and to
be responsible for the outcome of the CSR programs on the communities and the environment. In formulating the CSR
programs, the Bank takes into account the expectations of stakeholders, while consistently adhering to prevailing laws
as well as national and international norms.

CIMB Niaga undertakes its CSR programs as part of the 2. Ensuring the CSR programs implementation is in
Bank’s support towards several rules and regulations, accordance with the Sustainable Finance Vision
including: and Mission as well as the main focus set by the
1. President Regulation No. 59 of 2017 on the Management.
Implementation to Achieve the Sustainable 3. Managing the Bank’s CSR budget.
Development Goals. 4. Encouraging CSR behavior and culture in CIMB Niaga,
2. OJK Regulations and OJK Circular Letters on financial including through employee volunteer activities.
literacy, education and inclusion for the communities. 5. Managing the Bank’s reputational risk.
3. The Decree of the President of the Republic of
Indonesia on the National Financial Inclusivity Each Community Development Specialist is responsible
Strategy year 2020. for implementing CSR activities for each focus, namely
4. OJK Regulation No. 51/POJK.03/2017 on the Education, Development & Empowerment, Environment,
Implementation of Sustainable Finance by Financial and Philanthropy. The Community Development Group also
Institutions, Issuers, and Public Listed Companies. plays a role in encouraging the social responsibility behavior
The commitments to undertake CSR activities that of all CIMB Niaga’s employee, such as by collaborating
support the implementation of Sustainable Finance with other units to implement the CSR programs, inviting
and SDGs are stated in the Sustainable Finance Action employees to become volunteers, and implementing CSR
Plan (RAKB). programs that involve the communities where CIMB Niaga
branches operate.
THE CSR ORGANIZATION
CIMB Niaga undertakes initiatives, programs, and METHODOLOGY AND SCOPE OF DUE
social responsibility activities through the Community DILIGENCE ON THE SOCIAL, ECONOMIC
Development Group under the Corporate Secretary Sub- AND ENVIRONMENTAL IMPACT FROM THE
directorate and supervised by the Director of Compliance, BUSINESS ACTIVITIES OF THE BANK
Corporate Affairs & Legal. CIMB Niaga carries out regular due diligence to identify
positive impacts that need to be enhanced and negative
impacts that must be reduced or eliminated in the
Affairs & Legal Director decisions and/or activities of the Bank on environmental,
social and economic aspects.
Due diligence is carried out based on CIMB Niaga’s

Head of Corporate
Secretary materiality topics. To determine the material topics,
a Focus Group Discussion (FGD) was organized on 5
October 2020 via conference call and a stakeholder survey
Community on 2-15 November 2020. The survey was conducted by
Development Group distributing questionnaires. A total of 892 respondents
Head
participated in the survey.
Based on the surveyed material topics, CIMB Niaga then

identified significant impacts from the business activities
Community Community
of the Bank, both direct and indirect, and identified
Development Specialist Development Specialist
what stakeholders expect of the Bank’s CSR activities.
A comprehensive discussion on the material topics and
the impact thereof are presented in the CIMB Niaga 2020
The Community Development Group Head has the Sustainability Report that is published separately, but at
following key duties: the same time as this Annual Report.
1. Planning and coordinating the CSR programs
implementation.

In addition, the Community Development Group also KEY STAKEHOLDERS THAT ARE IMPACTED
reviewed all regulations related to CSR, to ensure that BY OR HAVE AN INFLUENCE ON THE
the Bank’s CSR programs can be carried out for the OPERATIONS OF THE BANK
benefit of stakeholders while adhering to prevailing laws CIMB Niaga has mapped stakeholders that are either
and regulations. As of year-end 2020, CIMB Niaga had impacted by or have an influence on the operations of the
not received any claims due to violation of regulations Bank. The mapping is based on several aspects, namely
pertaining to CSR activities. economic, social, environmental and governance, while
at the same time an identification of material topics is
The results of the due diligence and reviews are used carried out. The table of stakeholders, identification of
to form subsequent CSR programs by paying attention material topics and the impact thereof, are presented
to stakeholder needs and the business strategy of the comprehensively in the Bank’s Sustainability Report of 2020.
Bank. The formulation takes into account the potential
for a successful program as well as the risk of failure. Briefly, information regarding stakeholders that have
Thereafter, CSR activities are drawn up on the basis of significant correlations with the Bank’s operations as well
the results of the due diligence and reviews, with due as the strategies and working programs that have been
considerations for the positive and negative impacts of conducted as part of the Bank’s efforts to engage actively
each program. with stakeholders, is presented below:
Stakeholders Identification Basis Potential Impact or Engagement

Shareholders Economic, ownership and legal 1. Improvement of Bank Performance.
relations 2. Well maintained share value.
Local Communities Social relations and 1. Implementation of CSR programs and activities.
responsibility 2. Increasing the potential for cooperation in CSR programs.
3. Increasing education and effective financial literacy awareness.
Employees and Unions Legal relations and stakeholders 1. Employee rights.
that help the Bank in achieving 2. Increasing the effectiveness of Management-Employee Relations.
its goals
Regulators Legal relations and the interests 1. Compliance with all prevailing laws and regulations.
of Financial Services Institutions 2. Good Corporate Governance.
3. Support for Regulator’s policies through CSR programs.
Customers Economic relations 1. Increasing intensity of education on the Bank’s products and services,
especially to new customers and those who have no access to financial
system.
2. Enhancement of banking facilities and accesses as well as transaction
security.
3. Transparent information on Bank services.
Suppliers Economic and legal relations Transparent processes in the procurement of goods and services.
SOCIAL, ECONOMIC, AND ENVIRONMENTAL ISSUES RELATED TO BANK OPERATIONS’ IMPACT

As a financial institution, primarily engaged in banking, CIMB Niaga carries out business activities that generate and distribute
public funds while also providing other financial services, with the objective to support the national economy and social
welfare. In general, the Bank’s activities have a direct impact on economic and social issues, and indirectly on environmental
issues. The impact of Bank operations on social and economic issues includes among others rising social welfare from savings
and borrowing activities that nevertheless carry risks from potential money laundering, fraud, or cyber-crime. Meanwhile,
environmental risks include provision of loans to business activities that may not be environmentally friendly or could even
damage the environment.
In determining the social, economic, and environmental issues that may be impacted from Bank operations, the Bank carries
out periodic Focus Group Discussions (FGD) that involve internal and external stakeholders. Key issues that are identified
from the FGD are then pinpointed as topics of materiality that need to be managed by the Bank. From the FGD that was
carried out in 2020, the Bank identified six key issues that are deemed to have the highest impact, which are:

No Material Topics - High the concerns over environmental issues, and the scale of
1. Technology
priority in developing communication with various strategic
partners. The process of stakeholder involvement also
2. Health, Safety and Wellbeing
constitutes the Bank’s efforts to meet the expectations of
3. Sustainable Finance
every stakeholder by utilizing the Bank’s resources, in the
4. Customer Experience
right manner, with accountability, and pursuant to prevailing
5. Governance laws and regulations. Such involvement is also a way to
6. Financial Literacy, Inclusion, and Empowerment ensure harmonious relationships between the Bank and its
stakeholders. The mechanism for stakeholder involvements
FORMULATION OF THE SCOPE OF SOCIAL in the formulation of the Bank’s CSR strategy is carried out
RESPONSIBILITY FROM THE STANDPOINT OF through regular meetings, surveys to the community, and
COMPLIANCE OR BEYOND COMPLIANCE training activities.
The formulation of the scope of CIMB Niaga’s CSR is
carried out pursuant to the Republic of Indonesia Law As such, these CSR activities can ultimately benefit the Bank,
No. 40 of 2007 on Limited Liability Companies, Article 1, the stakeholders, sustainable development, and can mitigate
Item 3, namely the Corporate Social and Environmental negative impacts arising from decisions and actions of the
Responsibility (CSR). At CIMB Niaga, CSR activities are Bank.
carried out through transparent and ethical means while
also respecting human rights and taking into account CSR PROGRAMS THAT EXCEED MINIMUM
stakeholder expectations. Moreover, the CSR activities of STATUTORY REQUIREMENTS AND THE
the Bank are those beyond compliance, while complying RELEVANCE TO THE BUSINESS OF THE BANK
with international norms and practices such as the In the Laws that govern the requirements of CSR
International Labor Organization and the United Nations implementation, it is not explicitly stated what kind of
Guiding Principles on Business and Human Rights. CSR activities that the company must carry out. Each
company can carry out its CSR activities in accordance
THE STRATEGY AND WORK PROGRAM OF THE with the needs of stakeholders and relevance to its
BANK IN MANAGING SOCIAL, ECONOMIC business.
AND ENVIRONMENTAL ISSUES IN 2020
CIMB Niaga endeavors to carry out its CSR programs in To that end, CIMB Niaga aligns its CSR activities to
synergy with the business strategy. The Bank strives to its business strategy and initiatives. They include the
integrate CSR activities into its business focus while managing bamboo conservation program, the capacity building and
economic, social and environmental issues. This strategy is empowerment of disabled people, scholarship programs,
executed through the implementation of work programs and implementing a sustainability culture. Other CSR
that are evaluated periodically. activities that fulfill the obligation as a banking institution
include carrying out financial literacy and inclusion
The strategy and work program of the Bank in managing programs. CIMB Niaga also conducts CSR programs,
social, economic and environmental issues is carried out namely providing “Rumah Kita” shelter, in cooperation
based on four key focuses of the Bank’s CSR programs, namely with the Embassy of the Republic of Indonesia (KBRI) for
education, community development and empowerment, the Kingdom of Malaysia in Kuala Lumpur. Rumah Kita
philanthropy, and the environment. The Bank formulates is a shelter for Indonesian citizens (WNI)/Indonesian
this strategy and work program by engaging stakeholders Migrant Workers (PMI) in Malaysia, who need protection
that are impacted from, or have an influence on, Bank from KBRI due to certain reasons. Moreover, during the
operations; namely the communities, customers, partners, COVID-19 pandemic, the Bank is taking part in social
and employees. responsibility through a financing restructuring program
for affected customers.
The aim of engaging the stakeholders is to align the Bank’s
business strategy with the needs of stakeholders in that they CIMB Niaga, through the Community Development
may directly benefit from the Bank’s CSR activities and at Group, coordinates and ensures the execution of its
the same time, the CSR programs can truly be worthwhile CSR programs are in line with the plan that has been
activities. The involvement of stakeholders is carried out formulated, and has been approved by the Board of
by taking into account the social responsibility of the Bank, Directors. The realization of these programs is regularly

reported to the Director of Compliance, Corporate Affairs & Legal, who is responsible for the Community Development
Group. CSR programs and activities that support sustainable finance are also regularly reported to the Board of
Commissioners and Board of Directors, including the plans, output and outcomes achieved by each CSR activity. The
reporting and involvement of the Board of Commissioners and Board of Directors in the Bank’s CSR programs is aimed
at obtaining their input and evaluations so that the Bank’s CSR activities can continue to provide maximum impact for
the Bank, its stakeholders, and towards the sustainable development goals.
LINA
Student’s Parents of Gilang Kencana
Panjang Wetan 01 Elementary School, Pekalongan
This event is very useful for children since it improves their knowledge concerning banks
and now they are very excited to save in Tabungan SIMPEL. Thank you. CIMB Niaga is the
best.
The Bank measures the output and outcomes of its CSR activities through various approaches involving stakeholders,
including surveys on the participants or beneficiaries of the CSR activities, reports from third parties that assist the
implementation of CSR activities in CIMB Niaga, and others.
CSR FINANCING AND BUDGETING IN 2020

The total CSR budget for 2020 was Rp25.4 billion, with a realization of Rp28.05 billion for education, community
development and empowerment, philanthropy and environmental programs. The budget was proposed and reported
by the Community Development Group to the Board of Directors for evaluation and approval. The CSR budget is
allocated based on the CSR program plans that have been prepared and discussed with the other operating units that
are involved, and take into account the Bank’s financial capabilities.
CSR Budget Realization
in million Rupiah
Lines of Activity 2020 2019 2018

Environment 820 994 307
Occupational Health and Safety Practices: 467 1,334 1,970
- Disabled People 467 1,334 1,970
Social and Community Development: 21,747 22,116 13,756
- Education 10,146 17,236 8,980
- Community Development and Empowerment 4,390 3,218 2,252
- Philanthropy 7,211 1,662 2,524
Others 5,013 4,507 3,056
Total 28,046 28,951 19,089
In addition, in 2020 the CIMB Niaga Sharia Unit collected Qordhul Hasan totaling Rp9.98 billion and distributed Rp6.76
billion for Social/Donation in various sectors and Rp9.62 billion for public interest, so the total distribution in 2020
amounted to Rp16.4 billion.
Realization of Qordhul Hasan Fund
in million Rupiah
2020 2019 2018

Qordhul Hasan 16,400 14,397 14,832

CORPORATE SOCIAL RESPONSIBILITY

TOWARDS FAIR BUSINESS PRACTICES
COMMITMENTS AND POLICIES ON CSR CIMB Niaga together with its Management and
RELATED TO FAIR BUSINESS PRACTICES employees, without exception, are committed to
CIMB Niaga is committed to implementing the principles complying with the prevailing laws and regulations,
of Good Corporate Governance in all of its business and undertake periodic reviews on all regulations that
operations, and applies the policy of carrying out fair relate to fair business practices. The methodology and
business practices. The Bank has a number of policies scope of due diligence on the Bank’s CSR towards fair
that govern its fair business practices, including among business practices includes the Whistleblowing System, a
others its internal control policies, whistleblowing system, reporting medium for both internal and external parties.
the Code of Ethics and Conduct, and the Anti-Corruption CIMB Niaga’s Whistleblowing System is described in
policy that encompasses gratification. These policies are more detail in the Section on Whistleblowing System in
primarily designed to prevent conflict of interest and this Annual Report.
promote sound business activities.
The Bank also ensures compliance to the Code of
The scope of the Bank’s CSR towards fair business Ethics and Conduct through the obligation of annual
practices comprises prevention of conflict of interest, attestation to the Integrity Pact, and Code of Ethics and
implementation of anti-corruption, fair competition, and Commitments to Anti-Corruption. Routinely, twice a
prevention of insider activity. year, the Bank sends anti-gratification letters to business
partners, customers, CSR partners and others.
BANK POLICY ON FAIR COMPETITION
To ensure that CIMB Niaga’s operational activities comply The Community Development Group carries out
with all regulations on fair competition, the Bank’s Code due diligence and reviews on fair business practice
of Ethics and Conduct also regulates anti-competitive regulations, and the results thereof are used to discuss,
policies. The policy prohibits CIMB Niaga employees formulate and recognize the CSR programs and the
from discussing or entering into agreements with associated key stakeholders. The process will also involve
competitors or suppliers, or engaging in any way that other operating units, where relevant and needed.
violates competition rules. All CIMB Niaga employees Such an approach ensures that all decisions can be
must comply with the prevailing business competition implemented effectively and should lead to a positive
laws and regulations as well as the Bank’s own rules on and fair process throughout the entire value chain.
business competition.
CIMB Niaga is aware that there are significant impacts or
The Bank has a legal manual on Intellectual Property risks, either directly or indirectly, that are associated with
Rights of 2018. This policy is aimed at protecting the the violation of fair business practices. The direct impacts
intellectual property rights of CIMB Niaga, resolving would include the loss of customer trust in the Bank and
violations of intellectual property rights by third parties, of non-compliance to the prevailing regulations, while
creating controls and accountability, as well as avoiding the Bank’s financial performance or even its business
unauthorized changes. Conversely, the Bank is also continuity could be compromised as a result of the
committed to respecting the intellectual property rights indirect impacts. For the customers, as a stakeholder, the
of third parties. possible impact could include potential economic loss.
As part of the Bank’s efforts to negate violations, CIMB
The Bank’s Code of Ethics and Conduct sets out the Niaga implements its code of ethics and policies tightly,
prohibition on using Bank funds, assets or attributes for which includes the undertaking of the Bank’s CSR on fair
political activities, wearing political parties’ attributes, and business practices that is relevant to the business of the
campaigning within the Bank’s premises. Also, the Bank’s Bank. These CSR activities include a fair and appropriate
Anti-Corruption policy stipulates that the Bank shall reward and punishment system, as well as providing
not provide funding for political activities or to political learning opportunities and career development for
parties. The Bank is also not affiliated with or supports all employees in accordance with the Bank’s internal
any political parties. policies. CIMB Niaga also takes decisive action for any
violation of the Bank’s Code of Ethics and Conduct by
imposing sanctions in accordance with Bank policies and
applicable regulations.

Key issues in the Bank’s CSR on fair business practices fraud and the consequences thereof. The efforts toward
that are relevant to its business include customer this goal have been clearly manifested by the strong
experience. The Bank is obliged to ensure that all of its commitments of Management to exemplify the Tone
customers, without exception, receive the best service from the Top, that there is zero tolerance to fraud at
and experience and reliable banking transactions that CIMB Niaga. The Bank will act decisively by terminating
meet their needs. The risks that may arise in connection the employment of fraudsters and pressing criminal
with fair banking practices are legal and reputational charges against the perpetrator.
risks if a customer decides to submit a complaint and
claim losses with a lawsuit. On the customer’s side, the The Bank periodically disseminates information on
risk may be financial loss from a banking transaction that the prohibition of receiving or granting of gratification
fails to meet expectations. By adhering to all prevailing through e-mail blasts, anti-fraud training and campaigns.
laws and regulations, CIMB Niaga constantly protects the The Bank has also made available its whistleblowing
expectation of customers as to the role of the Bank in system, a reporting medium for employees as well as
managing the issues of fair business practices, among external parties. The CIMB Niaga Whistleblowing System
others by providing banking services in a professional, is further explained in the Section on the Whistleblowing
fair and transparent manner. System in this Annual Report.
BANK POLICIES AND EFFORTS AT CIMB Niaga also has a Code of Ethics and Conduct No.
ANTI-CORRUPTION A.07.01 of 2019, a guideline for all CIMB Niaga employees
CIMB Niaga has and implements the Anti-Corruption in interacting professionally when carrying out their work
Policy No. M.11 of 2019 as one of the Bank’s efforts to with high integrity, which includes the followings:
prevent corruption, and constitutes one of the Bank’s 1. Anti-bribery and corruption;
commitments to support anti-corruption practices. 2. Prohibition to conduct insider trading;
The provisions of this policy include the principles of 3. Anti-fraud;
anti-corruption, commitments to anti-corruption, the 4. Provisions on managing conflicts of interest;
responsible parties, programs to prevent corruption, 5. Provisions on no gift policy;
prohibition on gratification and political contributions, 6. Provisions on external employment and financial
and sanctions on violation of regulations, documentation interest;
and reporting. 7. Provision on whistleblowing;
8. Provisions on confidentiality;
CIMB Niaga also applies the Anti-Fraud Policy No. E.07 9. Provision for the use of Bank’s assets;
of 2012, which was updated in 2020, and serves as the 10. Provisions for the use of social media;
guidelines for the Bank in implementing anti-fraud 11. Prohibition on personal dealings with customers;
pursuant to OJK Regulation No. 39/POJK.03/2019 on 12. Provisions for customer complaints handling;
the Implementation of the Anti-Fraud Strategy for 13. Compliance and reporting to regulators;
Commercial Banks. The implementation of the anti-fraud 14. Provision on anti-money laundering activities;
strategy forms part of the Bank’s internal control system 15. Provision on the anti-competition rule;
in instilling the values of working culture of integrity, 16. Provision on sustainability culture;
compliance, and risk awareness towards the potential of 17. Provision on corporate social responsibility culture.

FORMULATION OF THE SCOPE OF ACTIVITIES PLAN OF ACTIVITIES FOR CSR ON FAIR

RELATED TO CSR TOWARDS FAIR BUSINESS BUSINESS PRACTICES
PRACTICES CIMB Niaga plans to achieve the targets set by the Bank in
The formulation of the scope of social responsibility 2020 for its CSR on fair business practices, including the
activities relating to fair business practices comprises of implementation of no violation to the Code of Ethics and
the prevention of conflicting interests, implementation Conduct. To that end, CIMB Niaga periodically undertakes
of the Whistleblowing System, Code of Ethics & Conduct, the socialization of the Bank’s Code of Ethics and Conduct
prohibition of insider activity, relationships with business as a reminder for all employees to make the Code their
partners, competitive practices, and relationships with main guidance. In line with the Anti-Corruption Policy,
other organizations. the Bank also distributes the anti-gratification letters
to business partners at least twice a year. The Board of
EFFORTS TO PROMOTE FAIR BUSINESS Directors is engaged in giving input to the activities plan
PRACTICES IN THE VALUE CHAIN of the Bank, adding to the credibility of the Bank’s CSR
Throughout 2020, CIMB Niaga undertook various initiatives and reports.
campaigns on anti-gratification, anti-corruption and anti-
fraud, not only among all employees of the Bank, but IMPLEMENTATION OF INITIATIVES FOR CSR
also to customers, as part of the Bank’s commitment to ACTIVITIES ON FAIR BUSINESS PRACTICES IN
promoting fair business practices throughout the value 2020
chain. The campaign is done, among others, through The Bank has made efforts to mitigate the impact of
anti-gratification letters which are sent out at least twice its decisions and/or business activities through fair
a year, the Annual Report, agreements between the Bank business practices in its value chain, among others by
and customers as well as business partners, content in disseminating information periodically on the availability
social media accounts of the Bank (Twitter, Facebook, of the Whistleblowing System to all stakeholders,
Instagram, e-mail and WhatsApp), and more importantly campaigning the Code of Ethics and Conduct among all
through the Whistleblowing System. Through this employees of the Bank, ensuring the distribution of the
medium, customers, business partners and even the anti-gratification letters to business partners, and making
public can submit reports on any subject or treatment sure of the availability of information on the Bank’s
that they consider inappropriate. The Bank ensures products and/or services with transparent information
that every report will be followed up as warranted such on the benefit, cost and risk of each Bank product and/
that the whistleblower will receive a fair, objective and or service. The Bank ensures that such information
accurate response on the matter. All of this represents has been presented to the customer and/or potential
the efforts of the Bank to ensure fair treatment in customer through its marketing activities, at the time the
providing service excellence to all of its customers and Bank enters into an agreement with the customer and/or
business partners. potential customer, and if there are changes made to the
products and/or services.
PROCEDURE AND MECHANISM FOR
COMPLAINTS AND REPORTING ON Throughout 2020, a number of the main programs that
VIOLATION OF FAIR BUSINESS PRACTICES were carried out by CIMB Niaga with respect to CSR
To ensure that all complaints are handled properly, CIMB on fair business practices, included the signing of the
Niaga has a Whistleblowing System, a reporting medium declaration of the Integrity Pact, Code of Ethics and the
for employees and external parties, managed by a Commitments to Anti-Corruption by members of the
third party, namely PT Deloitte Advis Indonesia. Further Board of Directors and Board of Commissioners on 9
explanation regarding the Whistleblowing System is April 2020. The declaration has been disclosed to the
available in the Section on the Whistleblowing System of public through the official website of CIMB Niaga, while
this Annual Report. training on anti-fraud and campaigning on anti-fraud
awareness were carried out among employees of the
Bank through internal communications media such as
the HR Info e-mail blast, E-Portrait digital magazine, and
through wallpaper on employee PCs/laptops. Meanwhile,
education to customers on anti-fraud awareness was
also carried out through social media and the e-mail blast

to warn them of the need to be careful with their banking AWARDS RECEIVED FROM THE INITIAVES OF
transactions. All of the main programs were executed as CSR ON FAIR BUSNESS PRACTICES
planned and on target. These programs are expected to The Bank’s commitments to implement social
increase the implementation of fair business practices by responsibility towards fair business practices have
the Bank. The execution of the main programs involved increased the trust of stakeholders in the Bank. CIMB
active participation of members of the Board of Directors Niaga garnered the award for The Top 3 Indonesia and
as the implementation of Tone from the Top on the ASEAN Asset Class Category from the ASEAN Capital
commitments of the Bank towards zero tolerance to Markets Forum for its consistent implementation of GCG
fraud. based on the ASEAN Corporate Governance Scorecard
standard. However, the Bank has not been certified for
In terms of the environment, the Bank undertook fair business practices.
a Sustainability Due Diligence on prospective non-
individual suppliers, business partners, CSR partners and The implementation of GCG as the foundation for
debtors. This due diligence can prevent the Bank from implementing CSR on fair business practices has been
entering into business collaboration with a party that the guidelines for CIMB Niaga to create benefits to
has social and environmental issues. Alternatively, the stakeholders, including the shareholders. The direct
Sustainability Due Diligence could increase awareness benefits to the Bank are the increasing trust that
among prospective suppliers, business partners, customers and investors place in the Bank, whereas
CSR partners and corporate debtors to participate in the indirect benefits are the increasing sustainability
maintaining the quality of environment. performance of the Bank, from economic, social and
environmental standpoints.
CIMB Niaga engages stakeholders to be involved
in decision making and also carries out reviews on EXPENSES FOR CSR ON FAIR BUSINESS
the policies and campaigns of anti-fraud. In 2020, PRACTICES
the efforts to engage stakeholders are expected to All CSR programs and/or activities related to fair business
increase the credibility of the Bank while meeting the practices are disseminated via the Bank’s existing
needs of stakeholders. Meanwhile, the socialization of facilities and technology, including e-mails and the
whistleblowing was carried out among employees as well website. As such, the Bank does not incur any expense
as to customers and business partners and the general for implementing CSR in this area.
public. All CSR activities and programs on fair business
practices were undertaken by CIMB Niaga to create a fair
and reliable standard of operations.
IMPACT AND ACHIEVEMENT OF ACTIVITIES IN

SUPPORT OF IMPLEMENTING FAIR BUSINESS
PRACTICES
As the impact and achievements of the Bank’s initiatives
in implementing fair business practices, the Bank has
been able to suppress the number of fraud cases every
year, while at the same time, whistleblowing reports are
still being received. This encouraging progress reflects
the increasing anti-fraud awareness as well as the sense
of belonging among CIMB Niaga’s employees towards
the continuity of the Bank’s sound business operations.


ON HUMAN RIGHTS
COMMITMENTS AND POLICIES OF CSR ON FORMULATION OF THE SCOPE OF CSR
HUMAN RIGHTS ACTIVITIES PERTAINING TO HUMAN RIGHTS
CIMB Niaga recognizes and is fully committed to upholding CIMB Niaga is engaged in banking, which has no
Human Rights. The scope the Bank’s social responsibility significant human rights issues that relate directly to the
towards Human Rights comprises non-discriminatory Bank’s activities. However, on the basis of due diligence
treatment, the right to form a union, regulated working by the Bank, there are several human rights issues that
hours, leave permit for emergency situations, and the are relevant to the Bank’s activities, such as on matters
right to worship, all of which is stipulated in the Bank’s of employment and customer service, including the
Collective Working Agreement and internal policies. confidentiality of customer data.
Pursuant to regulations in the Banking Act and other The scope of the Bank’s CSR activities that relate to
relevant laws and regulations, the recognition of Human Human Rights, namely on matters of employment
Rights is also underlined by the protection accorded comprises non-discriminatory treatments, recognition
to the security of all customer data, as provided for by and assurance for the union, regulated working hours,
the Bank’s Policy on Customer Protection and the Policy annual leave, maternity/miscarriage or menstrual leave,
on Security of Information and Data Classification. pilgrimage leave and leave for certain other purposes.
The policies must be implemented strictly and with no
tolerance, in order to meet the expectations and keep RELATED ISSUES AND RISKS RELEVANT
the trust of stakeholders. Furthermore, all security TO HUMAN RIGHTS
officers of CIMB Niaga are trained to observe and ensure Although there are no significant human rights issues
all aspects of human rights when dealing with securities that relate directly to the Bank’s activities, any violation
issues at the Bank. In terms of employment, CIMB Niaga of human rights will have a negative impact, on both
affords equal rights and opportunities to every person at the Bank and its stakeholders. The risks facing the
work without prejudice to ethnicity, religion, race, gender Bank and its stakeholders from any violation of human
and stereotype, including in the practice of personnel rights mainly pertain to law enforcement, whether civil,
recruitment, with due regards for the requirements of criminal or industrial relations. Other risks may include
the vacant positions and qualifications needed to fill risk of material and non-material losses with regards to a
those positions. reputational loss suffered by the Bank.
By applying good Human Rights policies, significant CIMB Niaga continues to meet stakeholder expectations
positive impact, directly or indirectly, can be expected by complying with all prevailing laws and regulations
from the Bank’s decisions and actions, which may include on human rights, such as providing professional, fair
among others the creation of a conducive working and transparent banking services, maintaining a good
environment that would support the performance of reputation, and business continuity.
employees and that of the Bank, and generate customer
satisfaction that would lead to customer loyalty towards THE MECHANISM AND PROCEDURES FOR
the CIMB Niaga brand. COMPLAINTS OVER VIOLATION OR HUMAN
RIGHTS CONFLICT
The approach to identify and formulate the CSR programs The Bank has a complaint reporting and resolution
and key stakeholders related to human rights is carried mechanism, including those of issues over human rights,
out through regular internal discussions on Human namely the CIMB Niaga Whistleblowing System that is
Rights. In addition, the Bank also evaluates the reviews on managed by an independent party. All complaints are
the prevailing laws and regulations on Human Rights by, followed up immediately based on the urgency of each
among others, the Directorate of Human Resources and case. CIMB Niaga, as a leading bank, is highly committed
the Compliance Unit. As for the implementation of due to Good Corporate Governance. Such a commitment has
diligence, CIMB Niaga performs regular reviews based on a direct and indirect impact on instilling a compliance
on the prevailing laws and regulations on Human Rights. culture within the Bank, thus mitigating the risk of human
By year-end 2020 there were no results in any violation of rights violations.
human rights statutes by CIMB Niaga.

Further details on the Whistleblowing System are INITIATIVES ON CSR ACTIVITIES THAT
presented in the Section on the Whistleblowing System SUPPORT HUMAN RIGHTS
in this Annual Report. The main CSR activities/programs that relate to Human
Rights are a manifestation of the involvement of
INVOLVEMENT OF MANAGEMENT AND stakeholders, such as employees, customers and the
RELEVANT STAKEHOLDERS public. These activities also represent the Bank’s efforts
The Management of CIMB Niaga is active in making to create mutual benefits with stakeholders such that any
decisions, carrying out reviews and engaging in CSR impact from human rights issues that may arise could
activities. In addition, the Bank also endeavors to involve be reduced. As a result, the Bank’s scope of influence
other stakeholders to enhance the Bank’s credibility on issues related to Human Rights will not only affect
while meeting stakeholder needs. These efforts include internal stakeholders, but external stakeholders as well.
the reviews and approvals of the Board of Directors
on employment policies, the effectiveness of the In order to mitigate the negative impact arising from
Whistleblowing System, based on reports submitted by Human Rights abuses, CIMB Niaga undertakes several
the Anti-Fraud Management Unit, and others. initiatives on CSR activities as follows:
The appointment of an independent party, PT Deloitte 1. Efforts to reduce the negative impact of Human
Advis Indonesia, is another example of the engagement Rights abuses on employees
of relevant stakeholders by CIMB Niaga to ensure the
effectiveness of the Whistleblowing System in preventing a. Freedom of Association
human rights violations. The entire implementation of CIMB Niaga guarantees the right of employees
CSR that relates to human rights constitutes the core to associate and gather, including establishing a
value of CIMB Niaga’s social responsibility towards union, pursuant to article 28 of the Constitution
human rights, in accordance with the expectations and of Republic of Indonesia and Presidential Decree
needs of stakeholders, and the benefits thereof for the No.83 of 1998 regarding the Ratification of
Bank. ILO Convention No.87 of 1948 concerning the
Freedom of Association and Protection of Rights
PLANS FOR CSR ACTIVITIES THAT RELATE TO to Form an Organization.
HUMAN RIGHTS
CIMB Niaga constantly strives to be free of any human At the end of 2020, there were four unions in CIMB
rights violations and is fully committed to adhering to Niaga, including Serikat Pekerja Ikatan Komunitas
various regulations on human rights, whether those that Niaga (IKN), Serikat Pekerja Ikatan Karyawan CIMB
apply to employees, or customers as part of the Bank’s Niaga (IKCN), Serikat Kerja Karyawan Bank CIMB
CSR activities. Niaga (SKKBCN), and Serikat Pekerja Bank CIMB
Niaga Indonesia (SPBCNI). The four unions have
The CSR activities are aimed at ensuring that the members from both the CIMB Niaga head office
Bank’s working process has taken into account the and branches throughout Indonesia. CIMB Niaga
implementation of human rights, among others the also provides opportunities for the management
cost allocation for employee activities. The upholding of and/or members of the unions to carry out their
human rights is also evident in the freedom of employees activities within working hours agreed by both
to form a union and to carryout meetings with the union parties. CIMB Niaga provides a place for the
to discuss matters that constitute the needs and interests unions to be used for secretariat activities, and
of employees. other facilities to support the unions’ activities.

b. Working Hours e. Leave Allowance

CIMB Niaga applies work time regulations in To support employee productivity as well as
accordance with article 77 of the Manpower Law to ensure their rights, CIMB Niaga applies a
No. 13 of 2003, which is eight hours a day and progressive annual leave allowance based on
40 hours a week, excluding break time. Working work tenure and rank. Annual leave is set at a
hour provisions are stipulated in the CIMB Niaga minimum of 12 days and a maximum of 25 days,
Collective Labor Agreement (CLA), article 17. For and is stipulated in the CIMB Niaga CLA Article
employees who, due to the nature of their work 20.9. In addition to annual leave, CIMB Niaga also
are required to be present at all times for the arranges special leave such as pilgrimage leave,
benefit of the Bank or the public, their working unpaid leave, as well as menstrual, maternity and
hours are arranged in shifts. The division of miscarriage leave for female employees. CIMB
shift working hours is adjusted according to the Niaga grants 3 (three) days paid leave to male
working conditions at the head office or branches, employees whose legitimate wives are giving
taking into account other applicable regulations. birth or have suffered a miscarriage.
Determination of working time shall ensure that In addition, CIMB Niaga also grants paid leave
CIMB Niaga is free from forced employment for employees with the following conditions,
practices, because the employees shall have such as legal marriages, baptisms/circumcisions
normal working hours and sufficient break time. of legitimate children, bereavements, and
Due to the establishment of strict employment emergencies. This is regulated in the CIMB Niaga
regulations, from the time CIMB Niaga was CLA, specifically article 24.
established up to now, there have been no reports
of forced employment cases in CIMB Niaga. f. Facilities for Disabled Employees
To ensure equal implementation of human
c. Equality in the Recruitment Process rights, since 2013 CIMB Niaga has implemented
CIMB Niaga has Policy No. A.02.01 regarding disability-friendly services, pursuant to OJK
Human Resources Fulfilment sub-chapter Regulation No.1/POJK.07/2013 on Consumer
Recruitment and Selection. This policy ensures Protection in the Financial Services Sector,
recruitment and selection processes that which requires the financial service industry to
are objective, accountable, and based on the provide special facilities for disabled people. As
competence of the candidates, while taking into of 31 December 2020, the Bank has 9 disabled
account the needs of positions available at the employees who serve in the Bank’s Contact
Bank. As such, equality in the recruitment process Center. The Bank ensures the same treatment for
is assured. disabled employees as that of other employees,
and the availability of facilities and infrastructures
d. Underage Employees that can support the disabled employees to carry
As a company that abides by regulations, CIMB out their work.
Niaga ensures the Bank does not employ
underage employees or child labor. Through one 2. Fulfillment and efforts to minimize the Human
of its recruitment criteria which is based on the Rights impact for customers
competence and qualification of the candidates
in line with the required qualification of the job, a. Banking Hall
in addition to merit-based selection, the Bank Respect for human rights for customers is
is ensuring that it does not recruit underage implemented by providing equal services to
employees. The same rules apply to all Bank all customers regardless of ethnicity, religious,
subsidiaries, and the Bank also encourages its race, social status, gender, and other physical
business partners to follow the same. conditions. Exceeding what is required, several
branch offices of CIMB Niaga provide special
toilet facilities and wheelchair access, as well as
assistance services for customers with special
needs.

b. Contact Center and Website IMPACT OF ACTIVITIES AND ACHIEVEMENTS

The Bank provides contact center facilities OF CSR ON HUMAN RIGHTS
for customers to obtain their rights regarding As of year-end 2020, there were no human rights
information on the products and services offered, violation reports, either from employees or customers.
as well as a medium for customer complaints and This achievement shows that the Bank’s activities are
grievances. already in line with the policy practices on human rights
consideration and testify directly to the implementation of
CIMB Niaga’s contact center can be accessed 24 social responsibility that is beyond compliance. Furthermore,
hours, on 14041, 14042 or +6221-2997888, +6221- the achievement also shows that the Bank’s services to
80655111 from overseas. Also, CIMB Niaga provides customers as well as its policies on employment have been
other communication channels for customers, carried out well, respecting their human rights.
including the website www.cimbniaga.co.id, e-mail
14041@cimbniaga.co.id, Live Chat, and social Respect for human rights underscores CIMB Niaga’s care
media accounts: Facebook: CIMB Niaga, Twitter: @ and support of activities based on business ethics, and
cimbniaga, Instagram: cimb_niaga good governance that benefits all stakeholders, including
the shareholders. Overall, CSR activities that respect human
c. Whistleblowing System rights will also support the Sustainable Development Goals,
Since 2011, CIMB Niaga has operated a specifically the goal of peace (Goal no. 16) and reducing
Whistleblowing System, a channel that allows inequity (Goal no.10).
employees, customers and other third parties to
report when they know, see, or find indications In addition, the Bank constantly strives to carry out its
of fraud violations or actual fraud that could policies and practices of social responsibilities consistently.
potentially harm the Bank, customers or other As a company that engages in banking, issues on human
third parties, both financially and non-financially. rights are centered more towards issues of employment.
Further details on the Whistleblowing System are The CSR activities that relate to human rights comprise of
presented in the Section on the Whistleblowing non-discriminatory practices, recognition and assurance for
System in this Annual Report. Unions, working hours, annual leave, pilgrimage leave and
work leave.
d. Human Rights Training for Security Personnel
As of 31 December 2020, CIMB Niaga employed With regards to human rights, the emphasis on issues that
1,066 outsourced security personnel. All security are relevant to the business of the Bank lies in employment
personnel have obtained training certification. issues.
The training materials include human rights and
an understanding of how to handle various cases RECOGNITION FOR INITIATIVES ON CSR
while still paying attention to human rights. Thus, RELATED TO HUMAN RIGHTS
security personnel of the Bank have received In 2020, the Bank had not received any award that
training on respecting and implementing human specifically relates to Human Rights.
rights.
COST OF CSR RELATED TO HUMAN RIGHTS
All of the above constitute the efforts of the Bank, by All CSR programs and/or activities that relate to human
relying on its influence, to prevent human rights abuses. rights are carried out using the existing facilities and
The scope of the Bank’s influence reaches employees, technology owned by the Bank, such as e-mail and
customers, and vendors that supply Security Personnel. websites, Contact Centers, and the Whistleblowing System.
As such, there are no specific costs incurred by the Bank
from its implementation of CSR related to human rights.
CIMB Niaga hopes that its CSR activities can reduce the
negative impact of the deviant behavior that does not
support human rights.


ON THE ENVIRONMENT
COMMITMENTS AND POLICIES ON CSR CIMB Niaga has issued its Policy and Procedure on
RELATED TO THE ENVIRONMENT Sustainability as well as the Policy and Procedure for
The environment is another aspect that CIMB Niaga Sustainable Finance. These policies and procedures
focuses on and which is in line with sustainability and the among others ensure that the Bank is not involved with
implementation of sustainable finance by CIMB Niaga. non-individual business partners, including customers,
The Bank realizes that the environment is a factor that partners, vendors, CSR beneficiaries, and subsidiary
influences business continuity. Environmental damage, entities, whose business activities are included in the
whether land, water or air, will have significant impact Exclusion List. The Bank also carries out Sustainability
as a risk factor to human life. In addition, deteriorating Due Diligence on prospective business partners, as
ecological balance causes climate change and global well as the Enhanced Sustainability Due Diligence on
warming. This could invariably affect the continuity of prospective debtors that failed the Sustainability Due
CIMB Niaga’s business. As such, CIMB Niaga is passionate Diligence and/or prospective debtors that have a high
about engaging in CSR activities on the environment sustainability risk. These policies of Exclusion List,
and strives to be in the forefront in its initiatives for Sustainability Due Diligence and Enhanced Sustainability
sustainable finance. Due Diligence ensure that the Bank is not involved with
business partners who may have a negative impact on
To that end, CIMB Niaga has and implements several environmental and/or social aspects. Furthermore,
policies that include the Green Office Policy that is part of such policies underline the Bank’s commitments to
the Bank’s Smart Spending Policy, which constitutes the ensuring that improvements are being affected on the
Bank’s initial steps to becoming part of the future green environment on a continuous basis.
banking industry. The Green Office Policy consists of three
main activities to reduce the use of energy resources and METHOD AND SCOPE OF DUE DILLIGENCE ON
other natural resources. They are the recycle program, THE IMPACT OF BANK’S ACTIVITIES ON THE
the paper efficiency program (less use of paper), and the ENVIRONMENT
energy-saving program. To identify and avoid business relations with those that
may have adverse impact on social and/or environmental
CIMB Niaga encourages debtors to care for the aspects, CIMB Niaga carries out Sustainability Due
environment by contributing towards the improvement Diligence. The scope of this due diligence covers non-
of environmental quality. This is shown by implementing individual business relations, including customers,
the loan provision policy, as provided for by the Bank’s partners, vendors, CSR fund recipients, and subsidiary
Commercial Loan Policy, which among others requires entities. The due diligence results are used to determine
debtors to submit the Environmental Impact Analysis whether the Bank will engage in business relations with
(AMDAL) or Environmental Management Efforts (UKL) those parties. Another due diligence method that the
- Environment Monitoring Efforts (UPL), in accordance Bank applies to ascertain environmental impacts is by
with prevailing regulations, and the latest information conducting calculation of carbon emissions from the
on Company Performance Rating in Environmental Bank’s operational activities, namely the use of electricity
Management (PROPER), especially for large scale and oil fuel. In addition to monitoring and calculating
debtors in certain business fields. The Bank also checks carbon emissions, the Bank identifies energy-saving
the AMDAL to determine the debtor’s environment programs/activities so as to maximize carbon emission
commitment. The documents and checks are required reductions.
for submission prior to applying for a loan from the Bank.
The approach to recognize and formulate CSR programs,
and the key stakeholders related to CSR on the
environment is carried out by discussing the results of
the due diligence and reviews on regulations relevant to
the environment by the Community Development Group
together with the GCG & Sustainability Group.

ENVIRONMENTAL ISSUES AND RISKS Further details on the Whistleblowing System are
RELEVANT TO CIMB NIAGA presented in the Section on The Whistleblowing System
CIMB Niaga is committed to continuously suppressing in this Annual Report. Throughout 2020, CIMB Niaga did
the negative impact of the Bank’s operations on the not receive any reports on environmental issues.
environment. This is carried out by formulating policies
that minimize negative impact on the environment. CSR PLAN ON THE ENVIRONMENT
CIMB Niaga involves the Community Development Group
Although CIMB Niaga’s banking activities are not linked under the responsibility of the Director of Compliance,
directly to the environment, the Bank’s day-to-day Corporate Affairs and Legal to carry out reviews on the
service operations nevertheless use non-renewable policies and programs of CSR related to the environment
and renewable sources of energy such as electricity in 2020. The Bank endeavors also to actively involve
energy, paper and water. These are natural resources other stakeholders that could be expected to increase
derived from the environment. The use of these the quality of the Bank’s CSR activities.
resources produce waste (for example, electronics and
paper waste) and leave carbon footprints that, however Management has targeted for CIMB Niaga to undertake
relatively small the amount, can be an environmental several CSR programs on the environment in 2020,
issue in the long run that exposes the Bank to risk related among others the Preservation and Conservation of
to the environment. Bamboo, the Green Office initiatives, and weighing
social and/or environmental aspects in its dealings with
Furthermore, the Bank could also be exposed to potential business relations.
indirect environmental issues. For example, a debtor
that borrows from the Bank causes an environmental All of the Bank’s environmental CSR initiatives are
disaster. This has the potential of increasing reputational mainly geared towards reducing negative impacts on
risk for the Bank, as well as credit risk if the debtor fails to the environment, such as energy efficiency measures
repay its debt due to the disaster. On the debtor’s side, that in some small way support the reduction of green-
the disaster damages reputation and threatens business house gasses that lead to climate change, and in planting
continuity. bamboo that increases the water absorption of the land,
reduces air run-off, protects land from degradation and
CIMB Niaga endeavors to fulfil stakeholder expectations more.
by addressing these direct and indirect environmental
issues, namely by reducing carbon emissions from Bank With the Bank’s commitments to implementing
operations through the efficient use of energy. The bank sustainability principles, the employees of CIMB Niaga
has also taken the initiative of not doing any business are galvanized to undertake the Green Office initiative
with entities that are known to impact negatively on the that indirectly benefits the environment. In addition,
environment. in selecting entities to cooperate with or to lend to,
the Bank will ensure that it will not do business with
MECHANISM AND PROCEDURES FOR vendors, or provide loans to debtors, who have issues
RESOVING GRIEVANCES AND CONFLICTS with the environment, as will have been verified by the
RELATED TO THE ENVIRONMENT Sustainability Due Diligence.
CIMB Niaga has the Whistleblowing System as a
reporting medium for both Bank employees and external As such, it can be surmised that the scope of the Bank’s
parties, which is managed by an independent third party, influence on the interest of stakeholders towards the
PT Deloitte Advis Indonesia. The Bank ensures that all environment extends to employees, business partners,
grievances and/or conflicts that are reported through customers, and the general public.
this system, including those that involve environmental
issues, will be resolved properly.

IMPLEMENTATION OF INITIATIVES ON CSR PROGRAMS RELATED TO THE ENVIRONMENT

In 2020, the Management of CIMB Niaga focuses on and has targeted specific CSR programs that relate to the
environment, as follows:
PRESERVATION AND CONSERVATION OF BAMBOO

CIMB Niaga consistently carries out the CSR program on environment in the form of the preservation and conservation
of Bamboo in several areas across Indonesia.
PUJI SUMEDI
Program Manager
KEHATI Foundation
The collaboration between CIMB Niaga and the KEHATI Foundation through the
Bamboo program in Ngada was carried out by Yayasan Bambu Lestari (YBL), which
is a non-profit foundation in the bamboo sector and which builds a sustainable
bamboo management system to support the bamboo industry managed by local
people. Our hopes for CIMB Niaga include continuously raising the awareness of
utilizing biological resources growing near Bamboo plants such as coffee/food/
traditional herbal medicine to improve the community’s economy.
The Implementation in the field was carried out in 2. Social and economic impact
cooperation with an independent partner, namely The conservation of bamboo not only provides
Yayasan Keanekaragaman Hayati (KEHATI). In 2020, CIMB for ecological benefits, but can also benefit local
Niaga carried out the Bamboo Conservation Program communities, such as farmers, indirectly. Local
by transplanting 5,000 Bamboo Betung seedlings in a communities around the bamboo conservation area
gigantic nursery field in the District of Ngada, Flores, NTT. are invited to participate actively in this program.
The bamboo was taken from a seedling program using This is done through capacity building programs
the cocoon system that began in 2016. In addition, CIMB that are provided to farmers. The capacity building
Niaga organized on-line training for 50 women in a forest covers the cultivation stage up to the post-harvesting
preservation area (Special Purpose Forest Area), the Rarung stage. Not only does this program increase the
Forest in Lombok with the theme of Utilizing Waste and awareness of local communities on the importance
Derivative Products of Bamboo. of environmental conservation, but it also opens up
business opportunities for them.
The impact of the CSR program in environmental
conservation is as follows: The other social and economic impact is the
establishment of a village cooperative that now helps
1. Ecological impact the farmers in trading other commodities, including
Ecologically, planting a bamboo acreage has a wild coffee, honey, staple goods, banana chips, and
positive environmental impact, namely that of shredded papaya.
improving groundwater absorption, reducing water
run-off, reducing land degradation, and increasing TOWARDS THE GREEN OFFICE
biodiversity both above and below ground level. The Management and employees of CIMB Niaga have
In addition, bamboo has the potential to be a good adopted a green initiative in their daily office activities. The
carbon sink and sequestration. Thus, the bamboo Bank has officially launched its Green Office policy as a
acreage can form into a whole sustainable ecosystem way to participate in the preservation of the environment
in and of itself. through saving the use of paper, water and energy.
The use of less energy contributes to less emission of
greenhouse gasses that cause climate change, while also
increasing cost efficiency for the Bank.

1. Recycling program branch offices and increase the use of on-line public
CIMB Niaga has long carried out responsible waste transporation. This program not only reduces carbon
sorting by providing special waste bins in the Bank’s emissions but also that of air pollution that harms the
premises in accordance with the designated wastes environment.
of either organic, plastic or paper. This waste-sorting
program is carried out in collaboration with third CONSIDERATIONS OF ENVIRONMENTAL AND/
parties. Before the pandemic, the Bank also carried OR SOCIAL ASPECTS IN THE BANK’S BUSINESS
out a waste management initiative towards ensuring RELATIONS WITH OTHER PARTIES
that no waste from the activities shall end up in the CIMB Niaga considers all aspects of the environment
ultimate garbage disposal facility, or in other words, in the process of lending to prospective debtors, in
Zero Waste to Landfills. addition to economic considerations. The Bank carries
out Sustainability Due Diligence on prospective business
2. Paper efficiency program relations as a means to ensure that the Bank is not
In the paper efficiency program, the Bank has involved in a business relationship that has a negative
optimized the use of the Multi-Function Printer to impact on the environment and/or social aspect.
scan, fax or e-mail directly without the need to print
or reproduce documents through photocopies; This policy will hopefully increase the awareness of
implemented e-statements/e-billing to customers; stakeholders, namely debtors and other business
optimized digital banking; reducing the use of paper relations, on the importance of environmental aspects in
to print or photocopy internal documents, meeting business, leading to a reduction in the negative impact
materials, brochures, news and magazines for on the environment. The policy is also in line with the
internal communication, and replacing them with the Bank’s commitments to participate in the achievement of
use of scanners, e-mails, and internal websites; made Sustainable Development Goals.
use of both sides of paper; and resorted to electronic
means to create and send internal memos utilizing In its lending process, as provided for in the Bank’s
e-mail. Commercial Credit Policy, there are several requirements
that have to be met by the (prospective) debtors as part
3. Energy savings program of the Bank’s consideration. These are:
The Bank has also applied automatic lights-out during 1. One of the data and documents required for
lunch breaks and after office hours, automatic air- submission with the loan proposal is the AMDAL
conditioning shut down after office hours; the use of analysis documents or Environmental Management
energy-saving features such as screen savers or power Efforts (UKL) – Environment Monitoring Efforts (UPL), in
save modes on computer equipment; and optimizing accordance with prevailing regulations, and the latest
the use of teleconference/video conferencing for updated information regarding PROPER, specifically
meetings with participants in far-off locations. for (prospective) large-scale debtors in certain lines of
business.
Over the past several years, the Bank has calculated 2. Part of the credit checking process that is carried out by
the amount of carbon emissions and energy the Bank relates to AMDAL (if the (prospective) debtor
consumption from the use of electricity, fuel business is environmentally related). The objective is to
consumption in the use of power generators and ensure the (prospective) debtor’s commitment to the
operational vehicles for Bank’s operations. environment.
3. One of Bank’s criteria in assessing the parameters of
4. Optimal use of operational vehicles program the business of (prospective) debtors is their efforts in
As part of the Bank’s initiatives to reduce carbon managing the environment, especially for (prospective)
emissions, particularly from the use of fuel, CIMB large-scale debtors with a significant impact on the
Niaga has reduced the use of operational vehicles and environment.
optimized shuttle cars to transport people between

4. The assessment of the asset quality of (prospective) when it is established (10 years old) is approximately
debtors with businesses and/or activities that require equivalent to 824 tons of CO2. Thus, it is estimated that
an AMDAL assessment, should also take into account CIMB Niaga bamboo potential carbon absorption, which
the PROPER assessment results issued by the Ministry is calculated in 2020 to reach more than 800 tons of CO2
for the Environment and Forestry (KLHK). equivalent or accumulatively starting 2019, will be able to
make a positive contribution to climate change mitigation
IMPACT FROM THE ACTIVITIES AND actions in the form of carbon absorption reaching nearly
ACHIEVEMENTS OF THE CSR ACTIVITIES 1,600 tons of CO2. This achievement is an encouragement
RELATED TO THE ENVIRONMENT for CIMB Niaga to consistently run its CSR program for
The environmental activities of CIMB Niaga’s CSR environmental preservation.
programs, namely the bamboo preservation and
conservation which started in 2012, succeeded in Furthermore, the Bank continues to encourage, and
planting 30,400 bamboo plants across various regions in together with debtors implement the principles of
Indonesia and provided social and economic benefits in sustainability. Some of the achievements of debtors
the form of capacity building of no less than 296 bamboo that relate to sustainability, for example, the Bank has a
farmers. sustainable finance oil palm plantation portfolio almost
amounting to Rp7.5 trillion, whose debtors have obtained/
The bamboo planted through CIMB Niaga’s CSR program in process of obtaining their Indonesian Sustainable Palm
is analyzed for its carbon absorption potential through Oil (ISPO) certifications and/or the Roundtable Sustainable
various methods. Sampling of Tabah bamboo (Gigantochloa Palm Oil (RSPO) certification. The Bank also encourages
nigrociliata (Buese) Kurz) in Gianyar and Tabanan, Bali was these debtors to commit to the policies of No-Deforestation,
carried out in 2019. Samples of Tabah bamboo were then No-Peat, No-Exploitation (N-DPE policy) and encourage
analyzed for C-organic content. The results of the analysis debtors to include the role of oil palm farmers in the supply
showed that the total area (13.4 ha) of Tabah bamboo chain of oil palm plantation companies so as to create
was measured to have a carbon absorption potential of an environmentally friendly and sustainable ecosystem.
up to 759 tonnes of CO2. Analysis of the potential carbon Oil palm plantation debtor data shows that there are 62
absorption was also carried out on Betung bamboos corporate and commercial debtors who have obtained
(Dendrocalamus asper) which were grown in the Ngada, ISPO and/or RSPO certification, and 23 debtors are in the
Nusa Tenggara Timur (NTT) using a sinusoidal equation certification process.
model (Maulana 2011). The result of analysis in 2020 shows
that the potential for carbon absorption from 10 thousand With respect to the Green Office program, the Bank has
Betung bamboos in the nursery carried out by CIMB Niaga recorded the efficient use of paper at the Head Office as follows:
Volume of Paper Use and Procurement Value
Description Unit 2020 2019 2018

Volume used at Head Office Ream 18,406 32,545 35,095
Kg* 46,015 81,363 87,737
Cost of paper procurement Rp million 776.69 1,263.32 1,361.38
*
Conversion of unit ream of paper to kg unit (1 ream = 2.5 kg)

In addition, the use of e-statements resulted in a saving of more than 8,500 reams of paper (equivalent weight
21 thousand kg). This means more efficient operational costs as well as improved productivity through the use of digital-
based banking processes.
The calculation of carbon emissions from the Bank’s operations are as follows:
Calculation of Carbon Emission and Use of Energy, Fuel and Water
Description Unit 2020 2019 2018

Energy Consumption Value
Electricity* kWh 39,004,317 24,346,913 4,702,403
GJ 140,415.55 87,648.89 16,928.65
Fuel Liter (L) 492,193 1,391,041 -
GJ 16,383.20 46,288.39 -
Carbon Emission Value** Tonnes CO2 eq 33,880.84 23,779.37 3,941.61
Water Consumption Value m3 136,905 192,340 -
*)
Electricity consumption data for 2020 comes from almost all CIMB Niaga offices in Indonesia, while in 2019 it reached almost 90% and in 2018 came from ± 25% of
the Bank’s branch offices. Electricity consumption data in 2019 for almost all Bank branch offices will be 40,315,088 kWh or 145,134.32 GJ.
The emission conversion factor for fuel follows the method of the Ministry of Environment and Forestry (2012); The emission conversion factor for electricity used in
**)
the calculation is 8.38 x 10-4 tonnes CO2eq/kWh equivalent and is a modification of the method of the Ministry of Energy and Mineral Resources (2016). The value of
2019 Carbon Emissions when calculating the additional electricity consumption will be 37,160.69 tonnes CO2eq. An “-” indicates that data is not yet available at the
time of the reporting year.
Based on the number of digital banking transactions In 2020, the Bank earned several awards in the area
during 2020, it can be assumed that CIMB Niaga has of environment, namely the IDX Channel Anugerah
supported greenhouse gas (GHG) emission reduction by Inovasi Indonesia – the Main Award in the Category of
more than 20 thousand tonnes CO2eq. This calculation Sustainability on the Innovative Conservation of Bamboo
is based on the assumption that every digital banking and the Indonesia Green Award of 2020 – in the Category
transaction can mitigate one kilometer trip. of Developing Bio-diversity.
Those achievements provide benefits to the Bank, either CIMB Niaga’s accomplishments in its environment-
directly or indirectly, such as safeguarding reputation risk oriented CSR activities support the Sustainability
and mitigating the credit risk of the Bank, which ultimately Development Goals on managing climate change (Goal
influences the Bank’s positive performance. This is also no. 13) and preserving land ecosystem (Goal no. 15).
one of the Bank’s accountabilities to shareholders.
COST OF CSR RELATED TO THE ENVIRONMENT
CERTIFICATION AND AWARDS In 2020, CIMB Niaga spent a total of Rp820 million on
IN ENVIRONMENTAL INITIATIVES environmental conservation initiatives. The CSR fund is
The Graha CIMB Niaga Building - Jakarta, in which the in line with the allocation of budget that had been set
head office of CIMB Niaga, is certified as a Platinum - mainly for the bamboo preservation and conservation
Green Building by the Building & Construction Authority program. CIMB Niaga hopes that its environmental CSR
(BCA) of Singapore. This certification not only benefits expenditure can have a positive impact, such as the
the Bank but also all stakeholders, especially in terms reduction of green-house gas emissions (GHG).
of environmental conservation for future generations.
In addition, building managers have received ISO50001:
2018 regarding the Energy Management System.

CORPORATE SOCIAL RESPONSIBILITY ON THE

PRACTICE OF EMPLOYMENT, OCCUPATIONAL
HEALTH, AND SAFETY
COMMITMENTS AND POLICIES ON CSR ON THE management system that is integrated with the Bank’s
PRACTICE OF EMPLOYMENT, OCCUPATIONAL management system. All of the Bank’s obligations are
HEALTH, AND SAFETY in line with the rights of the employees contained
For CIMB Niaga, employees are the main assets of the in the CLA, which includes all employees having the
Bank. Therefore, in the practice of employment, the right to obtain protection for occupational safety
Bank strives constantly to fulfil the rights of employees and health, morals and decency, and treatment in
in accordance with the prevailing laws and regulations, accordance with human dignity, prevailing legal
which in this case is the Republic of Indonesia Law No. provisions, and religious norms.
13 2003 on Manpower. In addition to the employment
aspect, the Bank is committed to maintaining the CIMB Niaga’s CLA also regulates policies that support
Occupational Health and Safety (OHS) for employees women’s work participation, including menstrual
as stipulated in the Republic of Indonesia Law No. 1 leave facilities, maternity leave and miscarriage leave
1970 concerning Occupational Safety and Health, and for female employees, providing opportunities for
Minister of Manpower Regulation No. 5 1996 concerning nursing babies, and others.
Occupational Safety and Health Management Systems.
These regulations form the basis of the Bank’s policies 2. Personnel Policy No. A.11.01 – Managing Employee
on establishing industrial relations with employees. Safety and Security Risks
This Personnel Policy regulates in more detail on the
CIMB Niaga provides a decent, safe, and conducive work management of employee safety and security risks
environment for its employees, without discriminating that includes the aspects of prevention, control and
rights and obligations in the workplace. Also, CIMB Niaga recovery in the event of an emergency/disaster. In
creates a harmonious working relationship between each of these aspects, the steps that must be taken
the Bank and all employees. This is all in line with the are outlined in general, both by the Bank and/or
main principles and prerequisites in achieving the Bank’s employees if there is an emergency/disaster. This
vision, mission, and sustainable business growth. policy is drawn up with the aim of being a guideline
in managing work safety and security risks related to
CIMB Niaga maintains policies that govern the practices human resources to create a safe working place and
of OHS to improve employee productivity and quality of minimize the potential for losses and/or risks at work.
life. The policies on these practices are provided for in
the following documents: 3. Personnel Policy No. A.02.01 - Recruitment and
Selection
1. Collective Labor Agreement (CLA) This Policy regulates the objective selection process, in
The responsibilities of the Bank towards the accordance with prevailing standards. Equal treatment
employment and OHS of its employees are partly is applied to all candidate employees, regardless of
contained in the Collective Labor Agreement (CLA) ethnicity, race, religion, gender or physical condition. In
that states the Bank’s obligations to employees, the recruitment process, the Bank upholds competency
including paying attention to ensuring employee identification in accordance with the Bank’s needs.
safety and health as well as providing decent It is also in line with CIMB Niaga’s Code of Ethics and
wages by taking into account the condition of the Conduct that stipulates the obligation to always uphold
Indonesian and global economy, the performance diversity and provide equal employment opportunities
and capabilities of the Bank, and the performance of for all employees based on their competencies. The
employees. In addition, the Bank is also required to Bank does not tolerate any discrimination based on
undertake efforts on occupational safety and health, gender, age, ethnicity, religion, race and inter-group
and implement an occupational safety and health harassment, nor physical abuse in any form.

CIMB Niaga is also committed to respecting the rights EMPLOYMENT AND OHS ISSUES AND RISKS
of employees to special social facilities, such as facilities RELEVANT TO CIMB NIAGA
needed by disabled employees, nursing rooms and Issues related to corporate social responsibility activities
others. in the employment and OHS sectors include the aspects
of employment, including gender equality in employment
METHOD AND SCOPE OF DUE DILLIGENCE ON opportunities, equality in education and training programs,
THE SOCIAL IMPACT OF BANK ACTIVITIES employee remuneration and welfare, promotion, freedom
As an institution that is committed to implementing of association, and occupational health and safety. All of
good corporate governance, CIMB Niaga constantly these issues and risks have been anticipated with a variety of
reviews and ensures its compliance to prevailing rules related policies, which have been implemented to reduce the
and regulations on employment. To that end, CIMB negative impacts that may occur.
Niaga carries out due diligence on its CSR related to
employment through an Employee Engagement Survey Employment risks that may arise from bank operations
(EES) that is conducted once every two years, Annual include employee turnover rates and productivity. These risks
Internal Customer Satisfaction Survey (ICSS), and by have a direct or indirect impact on the Bank’s operations, so
evaluating complaints received through CIMB Niaga’s there is a need to conduct regular reviews of all employment
Whistleblowing System, particularly employment issue related regulations. For employees, employment risks that
complaints. may arise include remuneration that can have an impact on
employee welfare. To meet stakeholder expectations, the
The results of the surveys and evaluations allow the working units under the Directorate of Human Resources
Bank to identify CSR programs related to employment as periodically reviews the employment policies. This process is
well as the relevant key stakeholders, and are useful for carried out to ensure that CIMB Niaga always complies with
the Bank and the stakeholders in reducing any negative all existing regulations and laws.
impact that potentially arises from the Bank’s activities.
The results of surveys and evaluations that have been PLAN FOR CSR RELATED
carried out indicate that the Bank’s activities have had TO EMPLOYMENT AND OHS
greater positive impact than negative impact. A significant CIMB Niaga involves stakeholders directly in supporting
positive impact is an increase in employee welfare, while the realization of a safe and conducive work culture in
a negative impact that must continue to be minimized is the Bank’s operations. The implementation of the CSR
the higher consumptive behavior. programs that relate to employment is carried out by the
working units under the Directorate of Human Resources
CIMB Niaga will continue to conduct its banking activities which report to the Chief of Human Resources Officer.
on the basis of good work ethics, and increase education Management conducts periodic reviews to ensure that
so that the positive impact from the Bank’s activities can the CSR employment programs and implementation
be utilized optimally, both to meet current and future are in line with targets, and simultaneously reduce the
needs. negative impact of Bank operations on employment.

IMPLEMENTATION OF INITIATIVES IN CSR PROGRAMS RELATED TO EMPLOYMENT AND OHS

Throughout 2020, CIMB Niaga carried out several CSR programs related to employment and OHS in line with the plan
that has been set by the Management, which include:
1. Gender Equality and Employment opportunities

Carrying out best practice on employment is one of the main priorities of CIMB Niaga. Welfare at work and a
harmonious working relationship between the Bank and its employees constitutes the most important principle
to achieve the vision, mission and sustainable growth of the Bank. CIMB Niaga does not discriminate against
background, gender, age, ethnicity, religion, race or any other differentiating factor.
In its recruitment of employees, the Bank carries out a process that is transparent and free from Corruption,
Collusion and Nepotism practices. In 2020, CIMB Niaga had 12,064 employees, consisting of 6,238 female employees
(52%) and 5,826 male employees (48%). This employee composition shows that CIMB Niaga upholds the principle of
gender equality.
The commitment to equality is not only manifested by the above statistics, but also by providing opportunities to
the best candidates among those with physical disabilities to work and flourish. In 2020, CIMB Niaga has disabled
employees, as follows:
Type of Disability Number of Employee Job Location

Orthopedically handicapped 5 Contact Center Yogyakarta
Deaf 4 Contact Center Yogyakarta
2. Education and/or Training The Bank has determined the remuneration

CIMB Niaga provides similar opportunities for all standards and ensures that the remuneration
employees to develop their potential and enhance system applied follows statutory provisions for the
their ability to develop their respective careers. Provincial Minimum Wage (UMP) levels determined
During 2020, the Bank conducted 1,600,274 training by the Government based on respective working
hours (internal and external training) attended by areas. Besides providing adequate remuneration,
384,549 employees, or an average training time of 4.2 CIMB Niaga also considers employee welfare by
hours per employee/module. providing several facilities such as health insurance,
transportation benefits, leave and year-end benefits,
3. Employee Remuneration and Welfare overtime benefits, uniforms, and so on. Like
CIMB Niaga understands that compensation remuneration, facilities provided to employees are
and benefits provided to employees affects the adjusted to their positions, years of service, and
employees’ performance productivity and turnover others.
rates. Therefore, the Bank always pays attention to
employee welfare by trying to facilitate their needs in 4. Work Facilities and Safety
the hope of establishing a relationship of mutual need, As part of the commitments of the Bank towards OHS
so that employees and the Bank shall work together of its employees, the policies on OHS are contained
to achieve the same goals. In providing remuneration in the CLA between the Bank and employees. CIMB
to each employee, CIMB Niaga applies the principle Niaga applies an OHS management system that is
of equality, that is, there are no differences in gender, integrated into the Bank’s management system and is
ethnicity or other backgrounds, but it is based on in accordance with the prevailing laws and regulations.
position level, performance, years of service, and the The OHS policies and facilities implemented in the
results of individual performance assessment. Bank include:

a. Employees are aware of the procedures for In addition to impacting the Bank and employees, the
surviving in an emergency. CSR programs that relate to employment and OHS also
b. Availability of information on important contacts benefit other stakeholders, such as the shareholders.
such as fire departments (113 or 1131) and the The implementation of CSR on employment and OHS
police (110). has been proven to improve employee productivity,
c. The obligation to wear an identity card in the and thereby increase Bank performance both financially
working areas. and non-financially. To that end, it is expected that the
d. The obligation to identify unknown guests in the investment value of shareholders will be well maintained.
Bank’s area.
e. Provision of health facilities, life insurance for As a Bank that is known for its commitment to
employees. implementing CSR programs related to employment
f. The obligation to maintain cleanliness in the and OHS, such commitment will influence customers,
working environment as a preventive measure vendors and others with whom the Bank engages in
for disease transmission (for example: wearing a business relations to respect or at least conform with the
mask, using antiseptics provided, washing dishes). Bank’s CSR programs in employment and OHS.
g. The obligation to manage and maintain a safe and
healthy working environment. MECHANISM FOR RESOLVING GRIEVANCES
h. The obligation to ensure employee safety and AND CONFLICTS RELATED TO EMPLOYMENT
security at the events held. AND OHS
i. Implementing a clean desk policy. CIMB Niaga has a Whistleblowing System, a reporting
j. Prohibition of smoking in the workplace. medium for employees and external parties. To ensure
that all grievances, including those that relate to
5. Accident at Work employment issues, are handled independently, the
As of year-end 2020, there had been no fatal work- Bank’s Whistleblowing System is managed by a third
related accidents at CIMB Niaga. The Bank is fully party, namely PT Deloitte Advis Indonesia.
committed to implementing its policies on health and
work safety and to provide the best working facilities Throughout 2020, CIMB Niaga received a total of 35
for its employees. The Bank will continue to adopt grievance reports, lower than 44 grievances that were
the zero accident target without tolerance for work- reported in 2019. All of these reports were followed up
related accidents. This target not only applies to the fairly and independently.
Bank’s employees, but also to customers that are
transacting their business in Bank premises. More details on the Bank’s Whistleblowing System are
presented in the Section on the Whistleblowing System
All of the Bank’s CSR activities that relate to employment of this Annual Report.
and OHS represent one of the efforts of the Bank to reduce
the negative impact of Bank operations, particularly on
employment. By implementing these CSR programs, the
Bank can mitigate employment-related risks that may
arise from Bank operations, including employee rate of
turnover and rate of productivity.

IMPACT AND ACHIEVEMENT OF ACTIVITIES IN EMPLOYMENT AND OHS

The outcome of the Bank’s CSR on employment and OHS can be seen from the results of the Internal Customer
Satisfaction Survey (ICSS), an annual survey that aims to measure the level of service, support and cooperation among
and between the Bank’s working units that have been engaged with one another over the previous one-year period.
In 2020, ICCS scored 3.07, slightly above the Bank’s target of 3.00. The score indicates that the Bank’s working units
cooperated well with one another, and provided the best service and support to one another, thus creating a conducive
working climate that supports increasing productivity.
In 2020, CIMB Niaga received the award for being The Most Helpful Bank During COVID-19 in Indonesia and 10th Most
Helpful Banks During COVID-19 in Asia Pacific from The Asian Banker. With respect to employment, the Bank has the
ISO 9001:2015 certification. These accomplishments speak of the benefits enjoyed by stakeholders, both internally and
externally, in ensuring a working environment that is healthy, safe, and conducive.
The impact of CSR activities on employment and OHS, whether direct or indirect, is reflected, among others, in the level
of productivity of employees that correlates with the performance of the Bank, the employee voluntary turnover rate
that is maintained at 6.6%, one of the lowest in national banking industry and lower then previous years. In addition, the
personnel cost was also well maintained.
COST OF CSR ON EMPLOYMENT

In 2020, CIMB Niaga spent a total of Rp467 million on CSR activities related to employment and OHS, primarily allocated
to developing the competence of disabled employees. The Bank believes that its investment in these activities will have
a positive impact, especially on improving the effectiveness of employee performance, which should impact positively
on the Bank’s performance and customer satisfaction.


TOWARDS CONSUMERS
COMMITMENTS AND POLICIES ON SOCIAL Furthermore, pursuant to OJK Regulation
RESPONSIBILITY TOWARDS CONSUMERS No. 7/POJK.07/2016 on Increasing the Financial Literacy
CIMB Niaga protects its reputation by reaffirming and Inclusion in the Financial Services Sector for
the Bank’s commitments towards service excellence Consumers and/or Communities, and OJK Circular
and customer satisfaction. For over six decades since Letter No. 30/SEOJK.07/2017 on the Implementation of
established, the Bank has consistently enhanced its Activities to Increase Financial Literacy in the Financial
banking service quality as a key factor in maintaining Services Sector, the Bank is expected to play an active role
customer loyalty and business continuity. Understanding in conducting financial literacy education to the public.
customer needs and emphasizing premium services are During the COVID-19 pandemic, in accordance with
the best ways to ensure sustainable long-term growth. OJK regulation No. 11/POJK.03/2020 regarding National
Economic Stimulus, the Bank provided relaxation
The Bank is committed to consistently protecting the programs in the form of financing restructuring for
interests of consumers by adapting to market needs and affected customers, so as the customers can maintain
demands, as manifested through a series of Bank policies their business continuity.
that cover product development, product safety, and the
management of customer complaints. In carrying out METHOD AND SCOPE OF DUE DILLIGENCE
the Bank’s corporate responsibilities to consumers, the In order to ensure customer satisfaction, CIMB Niaga
Bank established and implements Policy on Customer undertakes due diligence through the annual surveys
Protection and Policy on Provision of Information/Data/ of Net Promoter Scores (NPS) to ascertain the level
Documents to External Parties, which is pursuant to of customer loyalty and satisfaction over the Bank’s
prevailing laws and regulations in Indonesia, namely: products, delivery channels and service quality. The
1. OJK Regulation No. 1/POJK.07/2013 on Consumer due diligence process aims to identify the positive and
Protection in the Financial Services Sector. negative impacts of products and services provided by
2. OJK Regulation No. 18/POJK.07/2018 on Consumer the Bank to its customers. The due diligence results are
Complaint Services in the Financial Services Sector. then followed up, especially in response to pertinent
3. OJK Regulation No. 31/POJK.07/2020 on the Provision issues regarding customers as Bank’s consumers.
of Consumer and Public Services in the Financial
Services Sector by OJK. ISSUES AND RISKS RELATED TO CONSUMERS
4. BI Regulation (PBI) No. 7/6/PBI/2005 on the THAT ARE RELEVANT TO THE BANK
Transparency of Information on Banking Products A major impact of the Bank’s activities on consumers
and Use of Customer Private Data. is the level of customer satisfaction. To prevent a
5. BI Regulation No. 22/20/PBI/2020 on the Protection negative impact on customers, the Bank has reviewed
of Bank Indonesia Consumers. all regulations that pertain to customer protection and
customer service, including the confidentiality of data
FORMULATION OF SCOPE AND COVERAGE and ensuring Bank compliance to prevailing regulations.
OF CORPORATE SOCIAL RESPONSIBILITIES
TOWARD CONSUMERS Important issues in CSR that are relevant to Bank
The main scope of corporate social responsibility to activities include customer service, including data
consumers is in the handling of complaints from Bank confidentiality. The Bank must ensure service excellence,
customers, in which the Bank provides a Contact Center and still comply with all prevailing laws and regulations,
facility that can be accessed 24 hours a day by customers. especially assuring the confidentiality of customer data.
Also, the Bank provides a customer service counter at
every branch office. Poor customer service can cause reputational risk for
the Bank; whereas services that do not comply with
regulations will pose operational risks and legal risks for
the Bank. As for the stakeholders, especially customers,

the risks that may arise include the risk of customer appreciation for every employee that puts the customer
dissatisfaction over the Bank’s services, risk of personal in his or her heart in every activity.
data leaked, and even up to the risk of financial loss.
CIMB Niaga endeavors to generate benefits, either directly
By complying with all prevailing laws and regulations on or indirectly, from its CSR activities related to consumers,
customer protection and customer service, including the including benefits accorded to the shareholders from
security of customers, CIMB Niaga continues to preserve increased investor confidence.
stakeholder expectations of the Bank by providing service
excellence in a professional, fair and transparent manner; All of the Bank’s consumer-oriented CSR programs
with impeccable business reputation, and demonstrating involve customers as the key stakeholder. The Bank, as
its commitment to complying with all regulations. a financial institution, must protect the confidentiality
of customer data and fulfil customer rights. The Board
CIMB Niaga’s Customer Care Unit (CCU), which is of Directors of CIMB Niaga recognizes the importance
responsible for handling customer complaints over of CSR towards the consumers, and is always involved
Bank products and services, constantly monitors the in it, whether to evaluate the CSR consumer programs
quality assurance over service excellence to customers. or participate directly in the programs. During the
CRU consistently improves the quality of resolutions celebration of National Consumer Day, for instance, all
over customer complaints, through periodic evaluations Directors were directly greeting the customers.
of corrective actions, and the acceleration of customer
complaints resolutions. The Bank also has a Customer As a Bank that focuses on customer service, such focus
Experience Unit, a special unit that manages customer sends a strong message of what the Bank expects
experiences when carrying out their banking transactions from its employees, and all other supporting elements,
with the Bank. These two operating units are responsible to always deliver the best services to customers,
to the Director of Consumer Banking. including protecting the rights of customers, such as the
confidentiality of customer data.
PLAN AND EXECUTION OF THE INITIATIVES
ON CSR PROGRAMS RELATED TO CONSUMERS MECHANISM AND PROCEDURES FOR
In 2020, the CSR activities that relate to consumers that CUSTOMER COMPLAINTS
have been set and approved by the Board of Directors In the CSR program related to consumers, CIMB Niaga
included among others active participation in the encourages the involvement of customers by welcoming
Banking Mediation Working Group in cooperation with their inquiries and requests, inputs or complaints, so that
Bank Indonesia and the OJK, as well as other banks, to the Bank may undertake improvements and enhance the
undertake the customer education program in the form quality of its services. To that end, the Bank facilitates
of banking seminars and other activities. In addition, the various service delivery channels through Branch Offices,
Bank’s commitments towards service excellence were Digital Lounges, 24/7 Contact Centers, official website,
manifested by introducing new features in its Customer email 14041@cimbniaga.co.id, Live Chat, as well as social
Relationship Management (CRM), which is a service media such as the CIMB Niaga Facebook, Twitter, and
module that serves as a service platform for end-to-end Instagram accounts.
services for both individual and corporate customers. The
system provides more in-depth information on customer In addition, CIMB Niaga also facilitates a channel for
profiles that enable Bank frontliners to understand complaints and a mechanism for the resolutions
their customers better and provide more personalized thereof, including complaints over the Bank’s customer
services. From the perspectives of human resources, service that can be conveyed either verbally or in writing
CIMB Niaga also focuses on internalizing the culture of through a variety of channels provided by the Bank
Customer Obsession to instill the spirit of serving the – from branch offices and Digital Lounges to Contact
customer from the heart in every employee, and to place Centers with the phone access numbers of 14041, 14042,
the customer as the priority in their daily activities. This or +6221-2997888, +6221-80655111 (from overseas);
Customer Obsession culture is instilled through a series the electronic mail address of 14041@cimbniaga.co.id;
of training, consistent communication, and recognition of through the social media accounts of CIMB Niaga, official

website, or CIMB Niaga’s Customer Resolution Unit and parties. Efforts to ensure data confidentiality were
Customer Care via the Integrated Consumer Services carried out by enhancing the quality of technology
System of the Financial Services Sector. All complaints to improve data security, and ensuring that only
are immediately followed up in accordance with the authorized personnel can have access to customer
Service Level Agreement (SLA) on complaints resolution data, with strict authorization stages. Following this
set by the Regulator. procedure, the customers have felt more secure and
their trust in the Bank has increased, to the extent that
The Bank also maintains a Whistleblowing System that is no complaints on customer data confidentiality have
managed by an independent party. This Whistleblowing since been filed. In addition to customers, CIMB Niaga
System provides two reporting channels, one each for is also committed to protecting the data security of
the Bank’s employees and for external parties such its business partners, including vendors. Their data
as customers, business partners and the community. is stored in a database that can only be accessed by
Further details on the Whistleblowing System are authorized personnel. As of year-end 2020, there
presented in the Section on The Whistleblowing System were no complaints on data confidentiality.
of this Annual Report.
3. Financial Literacy Program
IMPACT AND ACHIEVEMENT OF CSR CIMB Niaga carries out financial literacy activities,
ACTIVITIES ON CONSUMERS especially for high school and college students. The
CIMB Niaga continues to provide service excellence to its financial literacy program is an obligation for all banks,
customers. Several impacts and achievements of the CSR including CIMB Niaga, and is provided to increase
activities on consumers are as follows: public awareness on the importance of managing
financials – especially those living in remote areas.
1. Customer Satisfaction Survey The financial literacy program is beneficial to these
The score of the NPS survey in 2020 shows an stakeholders, as it will help them to improve their
improvement from +18% in 2019 to +24%. The improving welfare through better financial management, for
score indicates the increasing satisfaction that customers example through digital banking facilities. Details on
ascribe to the Bank’s products and services. the financial literacy programs are disclosed further in
the Section on CSR related to Social and Community
2. Customer Data Confidentiality Development.
CIMB is committed to ensuring the confidentiality of
customer data so as not to be misused by irresponsible
DWI CAHYANTI
Student
SMA Kartika Wijaya Surabaya
I am very grateful for this program which helps students to understand good and
wise financial literacy, particularly in the midst of the COVID-19 pandemic we need
to manage our finances seamlessly. We were given an understanding of what
financial literacy should be like to allow us to manage finances properly, then there
were also quizzes concerning the background, benefits, and goals of Bank CIMB
Niaga.
Hopefully in the future, CIMB Niaga can continue to organize useful financial
literacy activities and teach a large number of students to manage their finances
wisely. Not only students, maybe all school members could participate in financial
literacy socialization activities to improve their social life. Hopefully CIMB Niaga will
be successful in the future with various programs being launched.

4. Dissemination of Comprehensive Information on is a qualitative impact of the CSR program towards

Banking Products and Services consumers, where the level of customer complaints
CIMB Niaga is obliged to provide and/or disseminate resolution has been maintained at 99%.
information on the Bank’s products and/or services
based on the actual benefits, costs and risks of every AWARDS AND CERTIFICATIONS
product and/or service. Such information must be In 2020, CIMB Niaga earned the Satisfaction, Loyalty &
provided by CIMB Niaga at the time of marketing, Engagement Award in several categories simultaneously,
when the Bank is about to enter into an agreement namely First Rank - Customer Knowledge for Commercial
with the customer or prospective customer, or if Banks (BUKU-4), Second Rank -Customer Influence for
there are changes to the product and/or service after Commercial Banks (BUKU-4), Second Rank - Engagement
they have been or are being used by the customer. for Commercials Bank (BUKU-4), Fifth Rank - SLE Index
The purpose of such information is to ascertain that 2020 for Commercial Banks (BUKU-4). The Bank also
all banking products and/or services are understood earned the Awards of The Best in Building Digital
by customers, and that all information is known Transformation for the category of National Bank
by customers before they decide to enter into a (BUKU-4) and The Best Bank in Mortgage 2020 for the
transaction. Should there be questions about the category of BUKU-4 banks. These awards proved that the
products and/or services, CIMB Niaga provides 24- Bank is perpetually committed to enhancing its prime
hour service through the Contact Center 14041, services to all customers.
14042, or +6221-2997888, +6221-80655111 (from
overseas). As such, the benefits and risks of all In 2020, the Bank has yet to acquire a certification in the
products and/or services that are marketed by the area of consumers.
Bank are known to customers to enable them to
make the right decisions. COST OF CSR ON CONSUMER
The Bank did not incur specific costs with regards to its CSR
The impact of the CSR program on consumers is readily activities for consumers. All of the programs and/or activities
seen in the result of the NPS Survey, which has improved of the CSR toward consumers were carried out using the
from that of the previous year, as well as from the stable facilities and technology of the Bank such as e-mail, website,
financial performance of the Bank. In addition, there contact center and the Whistleblowing System.


FOR SOCIAL AND COMMUNITY DEVELOPMENT
COMMITMENTS AND POLICIES OF CSR FOR KEY ISSUES AND STAKEHOLDERS RELEVANT
SOCIAL AND COMMUNITY DEVELOPMENT TO CIMB NIAGA
CIMB Niaga has the commitment and policy to The speed with which technology has evolved in the
empower communities sustainably. This commitment is banking sector has created many issues and new social
manifested through the Bank’s Policy on Corporate Social risks. These issues and risks include data security and
Responsibility No. M.09. the use of technology that may not be understood by
all customers. These issues also constitute a direct and
COVERAGE AND SCOPE OF CSR FOR SOCIAL indirect impact from the Bank’s strategy to develop digital
AND COMMUNITY DEVELOPMENT technology in order to provide services to customers and
Based on this policy, CIMB Niaga formulates programs the public.
and implements CSR activities that will have a positive
impact on improving the standard of living and welfare To mitigate the risks that may arise, CIMB Niaga carries
of communities, with the scope of the CSR for social out regular reviews on the prevailing relevant regulations,
and community development specifically aimed at and ensures its compliance thereof. CIMB Niaga also
communities in which the Bank operates, and more conducts CSR activities related to social and community
generally for the people of Indonesia. development, especially those of financial inclusion and
financial literacy. As such, CIMB Niaga acts as a financial
METHOD AND SCOPE OF DUE DILIGENCE institution that provides services according to stakeholder
CIMB Niaga’s CSR activities are carried out on the expectations, including providing innovative, safe, trusted
basis of four focus areas: education, development & products and services that provide convenience for the
empowerment, philanthropy, and environment. To customer and public.
ensure these activities run well and meet the needs and
expectations of the stakeholders, CIMB Niaga undertakes SOCIAL AND ECONOMIC RISKS RELATED TO
due diligence through an internal evaluation, by the BUSINESS ACTIVITIES OF THE BANK THAT
Community Development Group. Results of the due COULD AFFECT THE BANK OR STAKEHOLDERS
diligence are submitted to the Director of Compliance, The potential risks that the Bank may face from the
Corporate Affairs and Legal, as a form of the programs’ above issues include complaints from customers who
accountability. The applied method for the due diligence are unable to use digital banking services. While the
is through the reporting of the activities and the realized potential risk to customers may arise from the failure
cost against the planned programs and approved budget. to use banking services and thereby disrupting their
financial transactions.
The internal evaluation by the Community Development
Group is also used as the approach to identify and PLAN AND EXECUTION OF THE INITIATIVES
formulate the CSR program, and key stakeholders FOR CSR PROGRAMS FOR SOCIAL AND
that are relevant to the CSR on social and community COMMUNITY DEVELOPMENT IN 2020
development. Throughout 2020, the implementation of the CSR
activities has been in accordance with the plans reviewed
The Community Development Group, assisted by other and established by Management. The brand positioning
relevant working units, also carries out reviews on of CIMB Niaga, #KejarMimpi, is used as a platform for
regulations pertaining to the impact of social issues the execution of the CSR activities that create long-term
and their relevance to the stakeholders. Throughout value for the communities. The activities include:
the implementation of the CSR activities for social and
community development, the Bank ensures that it always EDUCATIONAL
complies with the relevant regulations such that the Bank CIMB Niaga believes that a good education can lead to a
has never received complaints or grievances related to better life. As such, CIMB Niaga continues to contribute to
the matter. increasing the quality of education in Indonesia, which is
manifested through two main activities, namely:

1. Scholarship Program
Since 2006, CIMB Niaga has consistently supported education through the scholarship program. To date, the
program has given scholarships to 1,077 students from senior high school level (SMA) to post-graduate degree (S2)
programs in Indonesia and abroad.
In 2020, the Scholarship Program was earned by 50 students in 15 Universities across Indonesia.
LASYA SALSABILA AZARINE

Student
Padjadjaran University, Bandung
In 2019, I was selected as a CIMB Niaga scholarship recipient for a 2-year period. As
a scholarship recipient, I received various funding for self-development, received
training such as preparation to join the workforce, and also to manage finances
properly. We are also involved in webinars, visiting children in the region, as well as
the KejarMimpi community brand ambassador program.
The programs held are very helpful for my experience and knowledge to prepare
for the ready-for-work generation. I hope that in the future CIMB Niaga will continue
to be one of the best banks in Indonesia and can develop its network and impact on
education in Indonesia.
2. Financial Literacy and Education Program

The financinal and banking literacy and education program is the implementation of an appeal from Bank Indonesia
and OJK to provide a better understanding of banking to the community. CIMB Niaga took up the request through
the programs Ayo Menabung dan Berbagi (AMDB) and Tour de Bank (TDB) for elementary to high-school students,
to provide a better understanding of banking to the public, including that of digital technology in banking services.
Since their inception in 2011, the AMDB and Tour de Bank programs have reached a total of 58,947 students in
536 schools. Due to the COVID-19 pandemic, the Bank has taken the initiative to modify these programs, including
broadening #KejarMimpi Goes to School with #KejarMimpi Goes to Orphanage, bringing the literacy and inclusion
program to orphans. Also, innovative changes were made to AMDB and Tour de Bank by running online programs
that students can access through their smartphones, laptops or computers. This enabled the students to participate
in the programs safely without having to interact in person, and more flexibly from anywhere, anytime.
Throughout 2020, the AMDB program reached a total of 7,451 students from 69 schools in 31 cities, whereas Tour
de Bank reached a total of 2,960 students from 52 schools in 23 cities across Indonesia. Meanwhile, #KejarMimpi
Goes to Orphanage had reached 330 orphans in 7 orphanages in 7 cities. The SimPel Savings that was opened by
students from the AMDB and Tour de Bank programs in 2020 amounted to 5,821 accounts.
Based on pre- and post-test, the financial literacy and education program by the Bank resulted in an increase of
understanding from the participating students by 11% in the Tour de Bank program and 7% in the AMDB program.
3. Education for Empowerment

CIMB Niaga has a program called #KejarMimpi Leaders Camp, an event that presents inspirational speakers
for Indonesia’s young generation, especially college students. Those inspirational speakers include members of

CIMB Niaga Board of Directors, CIMB Niaga Brand Ambassadors and local inspirational figures who will share the
story in reaching their dreams, and workshops with exciting and relevant topics for participants to pursue their
respective dreams.
In 2020, #KejarMimpi Leaders Camp was carried out twice with live presentations on Instagram KejarMimpi.id, to a
total 34,274 viewers.
4. Training and empowering disabled people

CIMB Niaga is committed to giving more attention to disabled people. In addition to having several disabled
employees, in 2020 CIMB Niaga cooperated with the Dwituna Rawinala Foundation and ThisAble Enterprise to
organize several training programs for disable people. These training programs include skills to make handicrafts
from beads, produce salted eggs, musical instrument training, training in cleaning services, business enterprise,
business using the e-commerce platform, and others; participated by 308 people with disabilities. From the training,
73 participants were able to find jobs and 18 disable people started their own businesses.
ULVIANA SAFITRI
Account Executive
Thisable Enterprise
I am an Account Executive at Thisable Enterprise. Thisable Enterprise itself was

established in 2011 and our focus is to empower people with disabilities to be
economically independent and to create programs that suit the needs of disabilities
and the labor market as well. In the midst of the COVID-19 pandemic, Thisable
Enterprise is looking for alternative ways to stay focused on our vision and mission,
by among others conducting online training or learning.
This time CIMB Niaga and Thisable Enterprise succeeded in providing opportunities
for 25 people with disabilities throughout Indonesia to participate in this program
through “Empowering Friends with Disabilities through Online Learning”. My hope
is CIMB Niaga in the future can continue to conduct this program, particularly the
program for people with disabilities in Indonesia so that they can also develop and
help Indonesia’s economic growth.
COMMUNITY DEVELOPMENT
CIMB Niaga’s CSR activities focus on empowering communities and reducing the negative impact that may arise from
the Bank’s operations, encompassing:
1. Community Link
Since 2018, CIMB Niaga has undertaken the Community Link Program, a program that intends to increase collaboration
in organizing social responsibility activities between the Bank, customers, employees, and communities. This
program invites the active involvement of Bank customers and employees to send their ideas on CSR activities that
can provide added value to the communities in which the Bank operates. This program consists of two categories,
namely #JadiNyata - selected ideas from customers, and #JadiPeduli - selected ideas from employees.
Ideas selected from each category will be realized through the Bank’s social responsibility activities, in collaboration
with the customers, employees and/or the local communities.

PUTRI AGUSTINA
Winner of the Community Link Program 2019 #Jadinyata
Digitalization of the Volunteer Platform
ID Volunteering
I was selected as the winner of the Community Link #JadiNyata 2019 and received
cash gifts and mentorship during the implementation of social ideas in 2020. The
program turned what was only an idea into something ‘real’ with a positive impact
on society. The mentoring provided additional insights and usefulness into the
ideas that have been manifested. Hopefully CIMB Niaga will continue to embrace
more young adults to realize their dreams and make the world a better place.
The Community Link Program #JadiNyata in 2020 was participated in by 324 participants. Through a process of jury
selection, CIMB Niaga announced three winners in the competition of the Social Community Link Program Idea,
#JadiNyata 2020, who were:
1) Nur Rahmi Yanti with the social idea of “Sorghum For The Future”
The idea is to increase the welfare of farmers, realizing food security and stability in the production of agricultural
produce in order to increase the local food supply through the innovative Sorghum Village that is oriented on
education, tourism and the sorghum processing industry.
2) Nicky Claraentia Pratiwi with the social idea of “Understanding the Business Value and Maximizing Digital
Content Performance and Strategy for Empowering Disabled People in Eastern Indonesia.”
Nicky wants to increase the capacity of disabled people in Eastern Indonesia in digital entrepreneurship through
online training programs, mentoring, and internship opportunities. The goal is to equip disabled people to
capitalize on opportunities to become entrepreneurs by using digital technology.
3) Agus Irawan Saputra with the social idea of “Biogas from Cow Dung to Meet the Demand for Energy that Has
Become Rarer and More Expensive.”
Borne out of a concern over the scarcity of the 3kg LPG and the disturbing sights of cow dung in Banyuasin,
Palembang, Agus wants to apply his chemical engineering know-how to create biogas from cow dung to provide
easily available and affordable cooking gas for the community.
The Community Link Program 2020 #JadiPeduli, was participated in by 59 branch offices. Due to the COVID-19
pandemic, all activities were conducted online, adopting the AMDB and Tour de Bank concept.
2. Women Empowerment
In 2020, CIMB Niaga also cooperated with the KEHATI Foundation to provide online training to 50 women in the
Special Purpose Rarung Forest in Lombok under the theme of Benefitting from Waste and Derivative Bamboo
Products. Several training modules were given, namely the Technology for Making Soap from Charcoal and Tea
from the Tabah Bamboo Leaves, Technology for Making Charcoal and Bamboo Vinegar, and others. The training is
expected to empower these women to increase the income of their families.

3. Philanthropy In addition, CIMB Niaga also conducts a CSR program,

Through philanthropy, CIMB Niaga provided aid and namely providing “Rumah Kita” shelter, in cooperation
donations to support and increase the welfare of with the Embassy of the Republic of Indonesia (KBRI) for
communities. Some of the philanthropic activities in the Kingdom of Malaysia in Kuala Lumpur. Rumah Kita is
2020 were as follows: a shelter for Indonesian citizens (WNI)/Indonesian Migrant
Workers (PMI) in Malaysia, who need protection from KBRI
due to certain reasons.
No. Type of Donation Total Donation (Rp)
1 Humanitarian Donation 79,000,000
CIMB Niaga always seeks the involvement of all
2 COVID-19 Pandemic Donation 7,038,841,486 stakeholders in the execution of several CSR programs
3 Religious Donation 92,950,000 for social and community development, including the
Total 7,210,791,486 provincial government, academic institutions, local
communities, and the Board of Directors and Board of
Commissioners of the Bank. The involvement of these key
As part of the Bank’s care towards the containment of stakeholders was carried out through the participatory
the COVID-19 pandemic in 2020, the Bank donated 4,500 mechanism in the activities that are organised by the
protective gear, 3,000 shoe protectors, and 400 N95 masks Bank. Such involvement creates a common benefit from
to several COVID-19 designated hospitals in Jakarta. the CSR activities on social and community development
for the Bank and its stakeholders.
The total donation by the Bank reached 6,779 beneficiaries,
including natural disasters donation, religious donation All of the Bank’s CSR activities on social and community
and COVID-19 containment donation. development are aimed at reducing the negative social
impact of the Bank’s business, while increasing the
independence of the communities that benefit from the
Bank’s CSR activities, as explained in the respective activities.
MAYOR ONO JONO

Division Head of Health Facility
RS. Marinir Cilandak, South Jakarta
At the Marine Hospital, we are serving a large number of COVID-19 patients. I would
like to thank CIMB Niaga for assisting us so much so far. We are very touched and
impressed by CIMB Niaga. In the future, I hope by CIMB Niaga can collaborate again
with the donations that have been given.
CIMB Niaga continuously strives to increase its performance to provide the most benefits to stakeholders. The Bank
believes that its business growth has to be followed by improvements in the welfare and living standards of the
surrounding communities, socially and economically. As such, a harmonious and cooperative relationship will exist
between the Bank and the communities.
MECHSANISM AND PROCEDURES TO RESOLVE COMPLAINTS AND CONFLICTS FOR SOCIAL AND
COMMUNITY DEVELOPMENT
Throughout 2020, CIMB Niaga did not receive any complaint or grievance report related to issues of social and community
development. CIMB Niaga has a Whistleblowing System, a reporting channel for both internal employees and external

parties, managed by a third party, namely PT Deloitte had been given free access to learning about social
Advis Indonesia. Through the Whistleblowing System, the issues, from the module to the online test.
Bank ensures that all reports from the Bank’s employees 2. Zela Zeftiani built a drying house for coffee beans,
and external parties, including those that relate to social by purchasing several pulpers, hullers, roasters and
and community development issues are handled properly. grinder equipment for processing coffee beans for
Further explanation on the Whistleblowing System is the communities of Suko Pangkat Village with their
available in the Section on the Whistleblowing System of potentially significant coffee plantation. The impact of
this Annual Report. this program was (a) the increase of the coffee beans
selling price by Rp500 per kilogram, (b) the elimination
IMPACT/BENEFIT FROM ACTIVITIES AND of transportation costs that had previously been Rp1.4
ACHIEVEMENTS OF CSR FOR SOCIAL AND million per harvest, and (c) activation of Bumdes in
COMMUNITY DERVELOPMENT the management of the drying house.
CIMB Niaga’s CSR activities for Social and Community 3. Danty Oktiana Prastiwi focused on managing organic
Development start from the initiatives that are discussed waste that was subsequently processed into Black
internally beforehand. As such, the CSR activities can be Soldier Flies (BSF). In time, there will be plenty who
directed towards their purpose and targeted to create a will get involved in the program: Pesantren Bahrul
positive image of the Bank in the eyes of stakeholders Maghfiroh, small convenience outlets, fruit stores
including the general public. and markets in and around Malang. Throughout
the program, the impact that was created was the
When communities have felt the positive impact from processing of nearly one ton of organic waste per
the execution of the Bank’s CSR programs, they will month, producing BSF larva of around 200 kg per
have been made aware of the presence of CIMB Niaga month and BSF fertilizer of more than 800 kg.
as a Bank that cares about social and community issues.
On that basis, CIMB Niaga will have gained the trust of These accomplishments were made by CIMB Niaga with the
stakeholders including the communities, especially in the excellent cooperation of all stakeholders that were involved.
Bank’s products and services. The benefits were felt, either directly or indirectly, by
stakeholders including the shareholders. The direct benefit
Throughout 2020, CIMB Niaga accomplished several was the increasing trust of the communities towards CIMB
milestones in its CSR activities for social and community Niaga, and indirectly will strengthen the sustainability of the
development. Some of these milestones included posting Bank in the long run. Several CSR activities for social and
a score of 4.28 (out of a scale of 5) in the survey on community development by the Bank also provided direct
benefits received by participants of the financial literacy and indirect benefits to the Sustainable Development Goals,
programs. Such a score indicates that participants especially with regards to Goal no. 4 (ensuring inclusive and
were generally satisfied with the way the program was equitable quality education and promote lifelong learning
delivered by CIMB Niaga. opportunities for all).
Furthermore, the results of implementing the three best AWARDS AND CERTIFICATIONS
social ideas of the Community Link Program of 2019 In 2020, there were no awards and certifications received
produced a number of accomplishments in 2020, as by the Bank on its CSR activities for social and community
follows: development.
1. Putri Agustina through IDVolunteering platform
succeeded in creating a website for developing the COST OF CSR FOR SOCIAL AND COMMUNITY
skills of volunteers up to the point of evaluation. The DEVELOPMENT
impact to date was that a total of 1,360 volunteers CIMB Niaga spent a total of Rp21,747 million throughout
2020 for its CSR activities for social and community
development. The amount of funds was in accordance
with the allocated budget for the program that was set
by the Bank.

Other
Corporate
Data
Office Network Addresses 709

OFFICE NETWORK
ADDRESSES
HEAD OFFICE FUNCTIONAL OFFICE OF KFNO Telesales
Bancassurance Sunlife Menara Sunlife
NON-OPERATIONAL 12th Floor,
Graha CIMB Niaga Jl. Dr. Ide Anak Agung gde Agung Blok
Jl. Jend. Sudirman Kav. 58 Jakarta 12190 KFNO Ambasador - Personal Loan 6.3, Jakarta 12950
Telp. : (021) 250 5151 - 5252- 5353 Rusun Hunian dan Non Hunian,
Fax. : (021) 250 5205 Mal & Apartemen Ambasador No. R 12 A,
Telex : 60876 nagaho ia, Lantai Dasar
KFNO Telesales
60877 nagaho ia Bancassurance Citywalk
Jl. Prof. Dr. Satrio Rt. 08 Rw. 03
Web : www.cimbniaga.com Gedung Citywalk (Infomedia) Sudirman
Kel. Karet Kuningan, Kec. Setiabudi,
E-mail : corporate.secretary Lantai 3,
Jakarta Selatan
@cimbniaga.co.id Jl. KH Mas Mansyur Kav 121, Jakarta 10220
Telex : 60875, 60876, 60877
KFNO Tebet - Asset Restructuring KFNO Collection & Recovery
Swift : BNIDJA
& Recovery (ARR) Ruko Apartemen Baverly Blok
Jl. Prof. Dr. Supomo No. 47, Kel. Tebet Barat, A-1, Jl. HR Muhammad 49-55,
Kec. Tebet, Jakarta Selatan Kel. Sonokwijenan,
Kec. Sukomanunggal, Surabaya
KFNO Area Jawa Timur - Human
Resources (HR) KFNO Sales Center Credit Card
Jl. Panglima Sudirman No. 74, Menara Imperium
Surabaya 60271 Menara Imperium LG19 B1 No B2 Jl. Rasuna
Said DKI Jakarta
KFNO Team Collection Personal
Loan KFNO Telesales Consumer
Gedung Graha Infomedia Mampang 4th Floor, Lending Puri Indah Financial
Jl. Mampang Prapatan Raya Kav. 28
Mampang, Jakarta Selatan 12760
Tower
Gedung Puri Indah Financial Tower 21th Floor
dan 23, Jl. Puri Indah Raya Blok T No.8, RT.1/
KFNO Credit Card Collection RW.2, Kembangan Sel. Kembangan, Kota
Surabaya Jakarta Barat, 11610
Jl. Stasiun Kota No.60 A-B, Surabaya 60161
KFNO Strategic Procurement &
KFNO Team Collection dan Admin Property Management
Recovery (SPAPM) Puri Indah Financial
Jl. Sultan Agung No.55 J Kec. gajah Mungkur,
Semarang 50232
Tower
Gedung Puri Indah Financial Tower 25th Floor
dan 26, Jl. Puri Indah Raya Blok T No.8, RT.1/
KFO Energy Building - Marketing RW.2, Kembangan Sel. Kembangan, Kota
Corporate Banking Group Energy Buildng Jakarta Barat, 11610
Lt.18,
Jl. Jend. Sudirman Kav.52-53 lot 11A, SCBD
KFNO HR Learning &
Development Dynaplast
Gedung Dynaplast 3rd,5th & 6th Floor,
KFNO Card National Sales – Jl. M.H. Thamrin No 1, Lippo Karawaci,
Makassar Ruko Ruby, Tangerang 15811
Jl Raya Boulevard 1 No14,
Makassar
KFNO Collection & Recovery
Makassar Perintis Kemerdekaan
Jl. Perintis kemerdekaan Km 9,Tamalanrea
Jaya, Makassar

BRANCH OFFICE Kebon Sirih Lapangan Roos

Jl. Kebon Sirih No.33 Jakarta 10340 Jl. Lapangan Ros Raya II No.8 Kec. Tebet
CENTRAL JAKARTA Kel. Tebet Timur RT 005/RW 01
Menteng Jakarta Selatan 12820
Sentral Senayan II Jl. HOS Tjokroaminoto No. 81,
Gedung Sentral Senayan II GF Unit No.201 D Jakarta Pusat 10310 L’Avenue
Jl. Asia Afrika No.8 Senayan Gedung L’Avenue, Jl. Raya Pasar Minggu
Jakarta Pusat 10270 Wahid Hasyim Kav 16, Kel. Pancoran, Kec. Pancoran,
Jl. Wahid Hasyim No. 177 A-B Jakarta 10250 Jakarta 12780
Senayan City
Mall senayan city unit 6-04, lantai 6 Cideng Mall Ambassador
Jl. Asia Afrika Jl. Cideng Barat No.61 - 61A, Jakarta 10150 Ruko mall ambasador no.12a
Jakarta Pusat 12190 Jl. Satrio Rt 08/03 Jakarta 12950
Roxy Mas
Citywalk Komp. Roxy Mas Blok B 1 No.4, Ciputra World Mall
Jl. KH Mas Mansyur No. 24 A Kav. 121 Jl. KH. Hasyim Ashari No.125, Ciputra World Mall Ciputra World
Jakarta Pusat 10220 Jakarta Pusat 10150 (Lotte Avenue Shopping) Lantai 2F
Wisma Keiai Metro Tanah Abang Gatot Subroto

Wisma Keiai, Ground Floor Banking Center Lantai 7 unit 20 Berita Satu Plaza (d/h Citra Graha)
Jl. Jend. Sudirman Kav. 3, Jakarta 10220 Pusat Pertokoan PGMTA Jakarta 10240 lt. Dasar Jl. Gatot Subroto Kav.35-36
Jakarta 12950
Plaza Sinar Mas Land
Plaza Sinar Mas Land Tower 3 GF SOUTH JAKARTA Bellagio
Jl. MH Thamrin No.51, Jakarta 10350 The Bellagio Boutique Mall
Kawasan Mega Kuningan Barat IX Lt. G
Graha CIMB Niaga
No. OG-10 Setiabudi Jakarta 12950
Grand Indonesia Jl. Jend. Sudirman Kav. 58
Grand Indonesia Shopping Town Lt.5 Jakarta Selatan 12190
Jl. MH Thamrin No.1, Jakarta 10310 Kuningan Plaza
Kuningan Plaza South Tower Suite 101
Graha CIMB Niaga Jl. HR Rasuna Said Kav. C11-14
Plaza Indonesia Graha CIMB Niaga Jl. Jend. Sudirman Kav. 58
Jl. MH Thamrin Kav 28-30 Unit L5 E16A/E 17 Jakarta Selatan 12190
(Plaza Indonesia Retail Extention)
Kota Kasablanka
Jakarta 10350 Mall Ratu Plaza Mall Kota Kasablanka LG 100
Jl. Jend. Sudirman kav 9. Lt. Ground unit G
Jl Casablanca Raya Kav 88
Pejompongan Jakarta 12190
Jl. Penjernihan No.1 No.1A/A dan 1A/B
Kel. Bendungan Hilir Kec. Tanah Abang Stock Exchange Building Tempo Scan
Jakarta Pusat 10210 Gd. BEJ Tower 2 GF Suite G 03-04
Tempo Scan Tower Lt.2
Jl. Jend. Sudirman Kav.52-53 Jakarta 12190
Jl. HR Rasuna Said Kav.3-4
Cempaka Putih 68 Jakarta Selatan 12950
Jl. Letjend. Suprapto No. 68 BEJ
Jakarta Pusat 10520 Gd. BEJ Tower 2 GF Suite G 03-04
Setiabudi
Jl. Jend. Sudirman Kav.52-53 Jakarta 12190
Setiabudi Building Ii Lt. 1 Ruang 101b
Jayakarta Jl. Hr Rasuna Said Kav. 62 Kuningan
Jl. Pangeran Jayakarta 117 Blok A6 - 7 Pacific Place Jakarta 12950
Jakarta Pusat 10730 Mall Pacific Place Lt.3 unit 3-21 SCBD
Jl. Jend Sudirman Kav.52-53 Jakarta 12920
Pondok Indah Icon
Pintu Air Pondok Indah Office Park Gedung A
Jl. Pintu Air Raya no. 7 Blok A2 - 3 Millennium Centennial Center Unit GF 01 & 101 Jl. Metro Pondok Indah
Jakarta Pusat 10710 Jl. Jend Sudirman Kav. 25, Jakarta 12920 Sektor 3 Pondok Indah
Gajah Mada Wisma Metropolitan
Jl. Gajah Mada No. 18 Jakarta 10130 Wisma Metropolitan II Jl. Jend. Sudirman Metro Pondok Indah
Kav. 29-30 Jakarta 12920 Jl. Metro Duta Niaga Pondok Indah Plaza I
Sangaji Blok II UA Kav. 67-69 Jakarta 12310
Jl. AM Sangaji Raya No.17 Blok C-D Petojo, Menara Satrio
Jakarta Pusat 10130 Menara Standard Chartered Unit GF 3-5 Wisma Pondok Indah
Jl. Prof Dr. Satrio Kav. 164 Karet Semanggi Wisma Pondok Indah I Lt. Dasar suite G01
Suryopranoto Setiabudi Jakarta Selatan 12930 Jl. Sultan Iskandar Muda Kav. V - TA
Jl. Suryopranoto no.1 - 9 Komp. Delta Pondok Indah, Jakarta Selatan 12310
Building Blok A no. 18 Jakarta Pusat 10160 Universitas Atmajaya
Kampus Atmajaya Lt. Dasar gedung Van Lith Pondok Indah Plaza 3
Cikini Jl. Jend. Sudirman No. 51 Jakarta 12930 Pondok Indah Plaza 3
Jl. Cikini Raya No. 71A Jakarta 10330 Komp. Pertokoan Pondok Indah Plaza 3
Tebet Blok C 6-7 Jl. Tb Simatupang
Gambir Jl. Prof Dr Soepomo 47, Kec. Tebet, Jakarta Selatan 12310
Jl. Kwitang No.17-18 Gambir Jakarta 10110 Kel. Tebet Barat, Jakarta Selatan 12810

Mall Gandaria City WEST JAKARTA Citra Garden 1

Mall Gandaria City, LG Floor, Unit L-52d Perum. Citra Garden I Blok I 1 No.15
Jl. Sultan Iskandar Muda Daan Mogot Kalideres Jakarta Barat 11840
Kebayoran Lama Utara Jl. Daan Mogot No. 6 E & F
Jakarta Selatan 12240 Jakarta Barat 11510 Taman Duta Mas
Taman Duta Mas Blok D9A
Sultan Iskandar Muda Green Ville Jl. Pangeran Tubagus Angke
Jl. Sultan Iskandarmuda No.35 F Komp. Green Ville Blok AX No.16 Kel. Jelambar Baru Kec. Grogol Petamburan
Jakarta Selatan 12240 Jakarta Barat 11510 Jakarta 11460
Arcadia Simatupang Wisma Slipi Sawah Besar

Perkantoran Hijau Arcadia Tower E Gedung Wisma Slipi 1st Floor, Jl. S. Wiryopranoto no. 9 Jakarta Barat 11160
Ground Floor Jl. TB Simatupang Kav. 88 Jl. Letjend. S. Parman Kav.12
Jakarta 12520 Jakarta Barat 11480 Lindeteves Trade Center
Gedung Lindeteves Trade Center GF-2,
PIM 2 Central Park Blok Ra 38&39, Jl. Hayam Wuruk No.127
Mall Pondok Indah 2 GF unit No. G33D Ruko Garden Shopping Arcade Blok C 9 AH.
Jl. Metro Pondok Indah Jakarta 12310 Jl. S. Parman Kav.25 Jakarta 11470 Kota
Jl. Kopi No.12 Jakarta Barat 11230
South Quarter Mall Taman Anggrek
South Quarter Dome LG Floor 21-23 Mal Taman Anggrek GF LOT VII Mangga Besar
Jl. RA Kartini Kav. 8, Cilandak Barat, Jl. S. Parman Kav.21 Jakarta Barat 11470 Jl. Mangga Besar Raya No.84
Jakarta Selatan 12430 Jakarta Barat 11180
Tanjung Duren
Sentraya Jl. Tanjung Duren Raya no.129 Lokasari
Menara Sentraya, Jl. Iskandarsyah II No.2, Jakarta Barat 11470 Jl. Mangga Besar Raya 81
Kebayoran Baru, Jakarta 12160 Komp. THR Lokasari Plaza Blok B 53
Telp. : (021) 2700555 Jakarta Barat 11180
Fax. : (021) 2700207
Central Park Mall
Central Park Mall LG Unit L-218
Jl. S. Parman Kav. 28 Jakarta 11470 Hayam Wuruk
Permata Hijau Jl. Hayam Wuruk No. 87 Jakarta 11150
Jl. Komp.Permata Hijau Blok D No. 30
RT 15/RW 12 Jakarta Selatan 12210
Tomang Tol
Jl. Taman Kedoya Baru No.8 Kedoya Selatan Karang Anyar
Jakarta Barat 11520 Jl. Karang Anyar no. 55 Blok A1 12A
Fatmawati 20 Jakarta Pusat 11150
Jl. RS. Fatmawati No. 20 RT.001/03
Kel. Cipete Selatan Kec. Cilandak
Green Garden
Komp. Ruko Green Garden Blok I-9 no.11 Pintu Kecil
Kec. Kebon Jeruk Kel. Kedoya Utara Jl. Pintu Kecil no. 28 - 29 Jakarta Barat 11230
Jakarta Barat 11520
Melawai
Jl. Melawai Raya No.50 Jakarta 12130
Jembatan Lima
Telp. : (021) 2700250
Puri Indah Jl. KH. M. Mansyur 79 - 79A Jakarta 11250
Komp. Ruko Sentra Niaga Puri Indah Blok T1
Fax. : (021) 2700248
No.26 - 27 Jakarta Barat 11610 Tomang Raya
Gedung Rabana GF & 1
Warung Buncit
Jl. Mampang Prapatan No. 101 Jakarta 12790
AKR Tower Jl. Tomang Raya No.48 A Jakarta Barat 11430
AKR Tower, Gallery West Lt Ground.
Jl Panjang No 5, Kebon Jeruk,
Kemang Raya 1 Jakarta Barat 11530
Jl. Kemang Raya no. 1 Bangka
JAKARTA UTARA
Mampang Prapatan Jakarta 12730
Kebon Jeruk Intercon Kelapa Gading TN
Komp. Intercon Plaza Blok F 12 - 12A Jl. Bulevard Raya Blok TN II No. 1-4
Kemang Raya 47 (DL @ Home) Jl. Meruya Ilir Jakarta Barat 11630 Kelapa Gading Jakarta Utara 14240
Jl. Kemang Raya No. 47-D Jakarta 12730
Lippo Mall Puri Mall Kelapa Gading
Pasar Minggu Lippo Mall Puri, Unit GF-12, Puri Indah CBD, Mal Kelapa Gading 1 Unit G-178
Jl. Pasar Minggu Km.19 No.98 C Jl. Puri Indah Raya Blok U1, Jakarta Barat Kelapa Gading Jakarta Utara 14240
Taman Palem Kelapa Gading LB
Panglima Polim Perumahan Taman Palem Lestari Jl. Boulevard Raya LB 3 No. 34-36
Jl. Panglima Polim Raya No.81, Blok D1 No. 2 Kec. Cengkareng Kelapa Gading 14240
Kebayoran Baru Kelurahan Cengkareng Barat
Jakarta Barat 11730
Bintaro Sektor I Bukit Gading Indah
Jl. Bukit Gading Raya Blok G/28
Jl. Bintaro Raya Blok E 15-16 City Resort Kelapa Gading Barat Jakarta Utara 14240
Bintaro Jaya Sektor I Jakarta 12320 Jl. Lingkar Luar Kamal Raya
Komp. City Resort Residences Blok D No.2
Kel. Cengkareng Timur Kec. Cengkareng
Mal Artha Gading
Jl. Artha Gading Selatan No. 1 UG Floor
Jakarta 11730
Kel. Kelapa Gading Barat Kec. Kelapa Gading
Jakarta Utara 14240

Sunter Kalimalang Kota Baru Parahyangan

Jl. Sunter Paradise Blok F 20 No. 1-2 Jl. Tarum Barat Blok Q No. 2 Kalimalang Bumi Paranggelung - Businees & Office Park,
Sunter, Jakarta Utara 14350 Jakarta 13450 Jalan Panyawangan Kav. 6 A Nomor 5A-B,
Kota Baru Parahyangan, Padalarang
Tanjung Priok Matraman Bandung 40553
Jl. Enggano Blok C Kav.11-I Kel. Tanjung Priok Jl. Matraman Raya No. 140
Kec. Tanjung Priok, Jakarta Utara 14320 Jakarta Timur 13140 Lembong
Jl. Lembong No. 7 Bandung 40111
Pluit Jatinegara
Jl. Pluit Sakti Raya No.113-115 Komplek Bonagabe Blok A3-A4 Rajawali
Jakarta Utara 14450 Jl. Raya Jatinegara Timur No. 101 Jl. Rajawali Barat no.65 Kel. Maleber
Jakarta Timur 13430 Kec. Andir Bandung 40184
Jembatan Dua
Kompleks Robinson-Jembatan Dua Rawamangun Pratama Sumber Sari
Jl. Jembatan Dua Raya Blok BJ - BL No.82 Gedung Pratama Jl. Pemuda No. 296 Jl. Soekarno Hatta No. 132 A Bandung 40222
Jakarta Utara 14450 Rawamangun Jakarta 13220
Kopo Bihbul
Muara Karang Pulo Gadung Jl. Kopo Bihbul No. 94 Bandung 40228
Jl. Muara Karang Raya No.35-37 Jl. Rawa Terate II Gd. Poliklinik
Jakarta Utara 14450 PT GIEP Kawasan Industri Pulogadung Lingkar Selatan
Jakarta Timur 13930 Jl. Peta No. 65 Bandung 40243
Pantai Indah Kapuk
Rukan Exlusive Bukit Golf Mediterania Rawamangun Arion Pajajaran
Blok A No.30 Kec. Penjaringan Arion Mall Ruang G 15 Jl. Pemuda Kav. 3-4 Jl. Pajajaran No. 85 Kel. Arjuna Kec. Cicendo
Kel. Kamal Muara Pantai Indah Kapuk Jakarta Timur 13220 Bandung 40173
Jakarta Utara 14460
Pasar Induk Cipinang Buah Batu
PIK Avenue Komplek Pasar Beras Cipinang Jl. Buah Batu No.143
Pik Avenue Mall 3 Floor,
rd
Blok HA.15-16 Cipinang Jakarta Timur 13230 Bandung 40265
Jl. Pantai Indah Kapuk Boulevard,
Jakarta Utara 14460
Ahmad Yani
WEST JAVA Jl. Terusan Jakarta B1 no. 77 H
Teluk Gong Komp. Lucky Plaza Bandung 40292
Komp. Duta Harapan Indah
BANDUNG
Jl. Kapuk Muara Blok D No.3
Jakarta Utara 14460
Astana Anyar
Asia Afrika Jl. Astana Anyar No.115 Kec. Astanaanyar
Wisma CIMB Niaga Kel. Cibabat Bandung 40241
Mal Emporium Pluit Jl. Jend Gatot Subroto No.2 Bandung 40262
Jl. Pluit Selatan Raya Kawasan CBD Pluit Blok
S-6 Lantai UG Kel. Pluit Kec. Penjaringan
Jakarta Utara 14440 Setiabudi SUMEDANG
Jl. Setiabudi no.57 Kec. Sukasari
Gunung Sahari 42
Kel. Gegerkalong Bandung 40153 Abdurachman
Jl. Mayor Abdurachman No. 63
Jl. Gunung Sahari Raya No. 42E
Jakarta Pusat 14410 Lembang Sumedang 45322
Jl. Raya Lembang No. 274 Lembang
Bandung 40391
Ancol
Jl. Lodan Raya No.1 AM Ancol Barat
GARUT
Jakarta Barat 14430 Dago
Jl. Ir. H. Juanda No. 165 Kel. Lebak Siliwangi Ahmad Yani
Kec. Coblong Bandung 40115 Jl. Jend. Ahmad Yani No. 29 Garut 44117
Mangga Dua Rutex
Ruko Textile Blok C6 No. 3
Jl. Arteri Mangga Dua Jakarta Utara 14430
Merdeka CIMAHI
Jl. Merdeka no.52 Bandung 40117
EAST JAKARTA Raya Tagog
Riau Jl. Raya Tagog No. 256, Cimahi 40525
Pasar Induk Kramat Jati Jl. RE Martadinata No. 134 Bandung 40113
Ruko Pasar Induk Kramat Jati Jl. Raya Bogor Borma Dakota
Uniko D2 No.17 & 18 Jakarta Timur 13510 Otista Jl. Dakota Raya No.109 Kel. Sukaraja
Jl. Otto Iskandar Dinata No. 102 Kec. Cicendo, Bandung 40175
Cibubur Indah Bandung 40181
Cibubur Indah Blok B No. 1
Jl. Raya Lapangan Tembak 21 Jakarta 13720 ITB CIANJUR
Gedung CRCS GF Fl, Kampus ITB,
Jakarta Garden City Jl. Ganesha No. 10, Bandung
Cokroaminoto
Komp. Rukan The Avenue No.8-025,
Jl. HOS Cokroaminoto No.102
Perumahan Jakarta Garden City, Raya Kel. Muka Kec. Cianjur, Cianjur 43215
Cakung-Cilincing Km 05, Jakarta Timur

PURWAKARTA Suryakencana Samsung

Jl. Suryakencana No. 196 A Bogor 16131 Samsung Electronic Indonesia
Veteran Jl. Jababeka Raya Blok F 29-33 Cikarang
Jl. Vetaran No. 83 Plaza Niaga Sentul Bekasi 17520
Purwakarta 41115 Plaza Niaga Sentul 1 Blok A No.1 Sentul City
Kemang Pratama
Cibubur Kota Wisata Ruko Kemang Pratama Blok MM-21F
CIREBON Kota Wisata Cibubur Boulevard Jl. Kemang Pratama Rawalumbu
Kota Wisata Komp. Ruko Sentra Eropa Bekasi 17116
Balong Indah Plaza Type ruko Travalgar Square blok SE G
Balong Indah Plaza Jl. Pekiringan no.166 No.1 & 2 Kel. Ciangsana Kec. Gunung Putri Summarecon
Cirebon 45111 Bogor 16968 Komplek Graha Boulevar Summarecon
Bekasi, Blok GB/B-5, Kel. Harapanmulya,
AEON Mall Sentul Kec. Medan Satria, Bekasi, Jawa Barat 17143
Kuningan
Jl. Siliwangi No. 92 Kel. Purwawinangun Aeon Mall Sentul, Unit B1-20, Jl. MH.
Kec. Kuningan Cirebon 45512 Thamrin, Citaringgul, Kec. Babakan Madang, Juanda
Bogor, Jawa Barat 16810 Jl. Ir. H. Juanda No. 137 Bekasi 17140
Siliwangi
Jl. Siliwangi No. 110 Cirebon 45123 Bekasi Barat
DEPOK Jl. KH. Noer Ali No.12-12A
Kel. Kayuringin Jaya Bekasi Barat 17144
Yos Sudarso
Jl. Yos Sudarso No. 26 Cirebon 45111 Cinere
Jl. Raya Cinere No. 3 H - 3 I Kec. Limo
Kab. Bogor Ds. Cinere, Depok 16514 KARAWANG
SUKABUMI
Margonda Tuparev
Jl. Margonda raya no. 243 Depok 16423 Jl. Tuparev No.150 Kel. Nagasari
Martadinata Kec. Karawang Kab. Karawang
JL. RE. Martadinata No. 72 Sukabumi 43112
FISIP UI Jawa Barat 41312
Universitas Indonesia FISIP,
Jl. Margonda Raya, Pondok Cina,
TASIKMALAYA Kecamatan Beji, Jawa Barat 16424 BANTEN
Yudanegara
Jl. Yudanegara No. 61 Tasikmalaya 46121
Cilegon
BEKASI City Square
Ruko Cilegon City Square, Blok A Kav.
HZ Mustofa Pondok Gede No. 9 & 10, Kec. Cibeber, Kel. Kedaleman,
Jl. HZ Mustofa No. 282 Tasikmalaya 46110 Cilegon 42400
Ruko Pondok Gede Blok H 11-12
Jl Raya Pondok Gede No.1 Bekasi 17411
BOGOR Cibubur Citra Grand TANGERANG

Citra Grand Cibubur Blok R1/06 Bogor 17435
Padjajaran Tangerang City
Jl. Pajajaran No. 33 Bogor 16128
Lippo Cikarang Office Sudirman One Blok H 12,
Gd Menara Pacific lantai dasar Jl Jend. Sudirman No 1, Tangerang 15117
V Point Ruko V Point Jl. MH Thamrin Lippo Cikarang Bekasi 17550
Jl. Pajajaran No. 1 ZA & ZB Kec. Bogor Timur Kondominium Golf Karawaci
Kel. Sukasari Bogor 16142
Mega Mall Cikarang Kondominium Golf Karawaci,
Ruko Mega Mall Blok B I Cibitung Center Jl. Jend Sudirman BLVD 2890,
Botani Square Kawasan Industri Cibitung Bekasi 17520 Lippo Karawaci, Tangerang
Botani Square Mall GF Fl,
Jalan Raya Pajajaran, Tegallega, LG Cirarab
Jababeka
Bogor Tengah, Kota Bogor, Jawa Barat 16127 Jl. Tabri No. 1 Desa Cirarab Bitung
Jl. Niaga Raya Unit 2O & 2P
Tangerang 15820
Capitol Business Park Desa Pasir Sari
Kec. Cikarang Selatan Kab. Bekasi
Cibinong - Mayor Oking Jawa Barat 17550 Pinangsia
Jl. Mayor Oking no.27 Blok A 4-6 Cibinong Ruko Pinangsia Blok B 1
Bogor 16900
LG Cibitung Jl. Imam Bonjol Karawaci Tangerang 15139
Kawasan Industri MM2100
Cisalak Jl. Jawa Blok G Ganda Mekar Cikarang Barat Supermall Karawaci
Jl. Raya Jakarta Bogor Km 31 5 RT 01/06 Bekasi 17520 Supermall Karawaci Lt. FF.
Cisalak Pasar Depok 16953 Jl. Boulevard Diponegoro 105 Curug
Cikarang Hankook Ds. Bencongan Tangerang 15811
Cileungsi Jl. Kenari Raya Blok G3 No.1 Delta Silicon 5.
Jl. Raya Narogong Cileungsi Ruko Griya Lippo Cikarang 17550 Daan Mogot
Kenari Mas Blok I No. 20-21 Cileungsi 16820 Jl. Daan Mogot No. 58 Tangerang 15111
Juanda
Jl. Ir. H. Juanda No. 12 Bogor 16121

Taman Cibodas CENTRAL JAVA PATI

Duta Mas Plaza BlokA 33
Jl. Raya Gatot Subroto Km 4 SEMARANG Sudirman
Perum. Taman Cibodas Tangerang 15138 Jl. Jend. Sudirman 89 Kel. Patilor
Kec. Pati, Pati 59117
Kisamaun Pemuda 102
Jl. Kisamaun No.40-42 Jl. Pemuda 102-104 Semarang 50133
Tangerang 12160 DEMAK
Gatot Subroto
Gading Serpong Kawasan Industri Candi
Jl Gatot Subroto Blok F1 / Viii Bintoro
Jl. Gading Serpong Boulevard Ba 02 Ruko Bintoro No. 13 Kel. Bintoro
No.28&29, Gading Serpong Semarang 50181
Kec. Demak 59511
Tangerang 15810 (SIP: Surat Ijin Penempatan)
Kaligawe
Green Office Park Jl. Raya Kaligawe Km 4 No. B11
Green Office Park 1, GF Fl, Semarang 50111
MAGELANG
Jl. BSD Grand Boulevard,
BSD Green Office Park BSD City, Mataram
Desa Sampora, Kecamatan Cisauk, Jl. M.T. Haryono 627 Kel. Sarirejo Rejotumoto
Semarang 50124 Jl. Tidar Rejotumoto No. 16 Magelang 56151
Tangerang, 15345
Siliwangi
SOUTH TANGERANG Jl. Jend. Sudirman No. 138, Kel. Cabean, PURWOREJO
Kec. Semarang Barat, Semarang 50141
Alam Sutera Icon Sudirman
Paragon Mall Jl. Jend. Sudirman No.37 Purbalingga
Synergi Building (formerly Alam Sutera
Mall Paragon, Jalan Pemuda 118 Unit 3F-01, Kec. Purbalingga Kel. Purbalingga Kulon,
Office Tower) LG and UG
Semarang 50132 Purbalingga 53312
Jl. Jalur Sutera Barat Kav.17 Alam Sutera
Serpong - Tangerang 15325
Gajah Mada
Bintaro Griya Niaga Jl. Gajahmada No.184 Kec. Semarang Timur TEMANGGUNG
Griya Niaga II Jl. Wahid Hasyim Blok B-IV Kel. Pekunden Semarang 50139
No.3 Bintaro Jaya Sektor VII
Tangerang 15224 Candi KLATEN
Jl. Sultan Agung No. 121 Semarang 50235
Ciledug Pemuda
Perum Pondok lestari Blok A I No. 37 Ungaran Jl. Pemuda No. 234 Kab. Klaten
Jl. Raya Cileduk Tangerang 15157 Jl. Gatot Subroto No. 106 D Semarang 50517 Kec. Klaten Tengah Ds. Tonggalan
Klaten 57411
Ciputat Cendrawasih
Jl. Dewi Sartika No.25A-25C Ciputat Jl. Cendrawasih Kompleks Pertokoan
Tangerang 15411 Jurnatan B No.1 Semarang 50137 TEGAL
ITC BSD Gang Besen Sudirman

Ruko ITC BSD No. 26 & 27 Jl. Gang Besen 95 C Semarang 50137 Jl. Jend Sudirman No.34 Kel. Pekauman,
Jl. Pahlawan Seribu Kec. Serpong Kec. Tegal Barat, Tegal 52113
Kel. Lengkong Wetan Tangerang 15322
Gayam Sari
Jl. Brigjen Sudiarto Kav. 5-6 Ruko Gayam Sari Slawi
WTC Serpong Semarang 50167 Jl. Mayjen Sutoyo 14 Kel. Kagog
Ruko WTC Matahari Serpong No.5879 Kec. Slawi Wetan, Slawi 52411
Jl. Raya Serpong No.39 Serpong
Tentrem Mall
Tangerang 15326
Tentrem Mall Semarang, Purwokerto
Jl. Gajahmada No.123, Pekunden, Sudirman 605
Pasar Modern BSD Kec. Semarang Tengah, Kota Semarang, Jl. Jend. Sudirman 605 Purwokerto 53114
Ruko Golden Madrid Blok C No.7 Jawa Tengah 50134
Bumi Serpong Damai Tangerang 15318
CILACAP
AEON Mall KUDUS
Aeon Mall Lt. Dasar Unit G-52, Sudirman
Grand Boulevard Bsd City, Tangerang 15345 Jl. Jend Sudirman No. 20 Kel. Sidanegara
Agil Kusumadya
Jl. Agil Kusumadya No. 5 A Kudus 59343 Kec. Cilacap Tengah Cilacap 53223
Pamulang Permai
Jl. Surya Kencana No.9, Pamulang 15417
Ahmad Yani
Jl. A. Yani No. 31, Kudus 59317 PEKALONGAN
Hayam Wuruk
Jl. Hayam Wuruk No. 3 Pekalongan 51119

KEBUMEN Palur EAST JAVA

Jl. Raya Palur KM 7 No. 8A Kel. Ngringo
Pahlawan Kec. Jaten Karanganyar Solo 57771 SURABAYA
Jl. Pahlawan No.120 Kab. Kebumen
Kel. Kebumen Kec. Kebumen Solo Baru Mulyosari
Kebumen 54311 Jl. Raya Solo Baru AB No. 4 Jl. Raya Mulyosari No. 166 Surabaya 60112
Kel. Langen Harjo. Kec. Grogol Sukoharjo
Gombong Jawa Tengah 57552
Pakuwon City
Jl. Yos Sudarso No.182 Pakuwon Town Square
Kompleks Pasar Wonokriyo Blok A No.27 (PATOS) Blok AA 02-002 Pakuwon City
Kel. Wonokriyo Kec. Gombong 54412 D.I YOGYAKARTA Kel. Kejawan Putih Tambak Kec. Mulyorejo
Surabaya 60112
KOTA JOGJA
JEPARA Kapas Krampung
Sudirman 50 Jl. Kapas Krampung No. 71-A Kel. Rangkah
Diponegoro Jl. Jend. Sudirman No. 50 Yogyakarta 55233 Kec. Tambak Sari Surabaya 60135
Jl. Diponegoro No. 91, Jepara 59211
Gejayan Manyar Kertoardjo
Jl. Gejayan No. 26a Yogyakarta 55221 Jl. Manyar Kertoarjo V No. 75-77 Kel. Mojo
WONOSOBO Kec. Gubeng Surabaya 60285
Parang Tritis
Sudirman Jl. Parangtritis 115 D Kel. Mergangsang Kembang Jepun
Jl. Jend. Sudirman 93, Salatiga 50711 Kec. Brontokusuman Yogyakarta 55153 Jl. Kembang Jepun No.129
Surabaya 60161
Atmajaya
PURBALINGGA Jl. Babarsari 44 Perak
Yogyakarta (Kerjasama) 55281 Jl. Perak Barat 121 Kec. Krembangan
Sudirman Kel. Perak Barat Surabaya 60177
Jl. Jend. Sudirman No.37 Purbalingga Sanata Darma
Kec. Purbalingga Kel. Purbalingga Kulon, Jln Affandi (Gejayan) Mrican Pasar Atom
Purbalingga 53312 Tromol Pos 29 Kel. Catur Tunggal Pasar Atom Tahap Iv G.07-08
Kec. Depok-Sleman Yogyakarta 55002 Surabaya 60161
SALATIGA Sudirman 13 Pakuwon City Mall

Jl. Jend. Sudirman 13 Pakuwon City Mall,
Sudirman Jl. Raya Laguna Kjw Putih Tambak No.2,
Jl. Jend. Sudirman 93, Salatiga 50711 RS Panti Rapih Kejawaan Putih Tamba, Kec. Mulyorejo,
Jl. Cik Ditiro No. 30 Yogyakarta 55223 Kota Surabaya, Jawa Timur 60112

SOLO Universitas Sanata Pahingan
Kampus Univ. Sanata Dharma Pahingan Sudirman
Slamet Riyadi 8 Yogyakarta 55282 Jl. Jend. Sudirman No. 59-61 Surabaya 60271
Jl. Slamet Riyadi No. 8 Solo 57111
UGM Tunjungan
Manahan Universitas Gajah Mada, Gedung FEB, Jl. Tunjungan No. 47 Kec. Genteng
Jl. L.U. Adisutipto No. 21 Kel. Manahan Jl. Sosio Humaniora No.1, Bulaksumur Kel. Genteng Rt / Rw 01 / X Surabaya 60275
Kec. Banjarsari Solo 57139 Yogyakarta 55281
Pucang Anom
Paragon Mall Malioboro Mall Yogyakarta Jl. Pucang Anom No. 27 Kel. Kertajaya
Solo Paragon Lt. FF. Jl. Yosodipuro No.133, Mal Malioboro Jogja Kec. Gubeng Surabaya 60282
Jawa Tengah 57131 Jl. Malioboro No. 52-58, Suryatmajan,
Kec. Danurejan, Kota Yogyakarta, Klampis
DIY Yogyakarta 55213
Slamet Riyadi 136 Jl. Klampis Jaya No. 27E Kel. Klampis Ngasem
Jl. Slamet Riyadi 136 Solo 57131 Kec. Sukolilo Surabaya 60117

Kartasura SLEMAN Manyar Mega Indah

Jl. Ruko Kartasura Blok B 3-4 Pertokoan Manyar Mega Indah
Kartasura 57168 Godean Jl. Ngagel Jaya Selatan G-3 Surabaya 60283
Jl. Godean KM 4, Desa Nogotirto,
ATMI Kec. Gamping, Kab. Sleman, Tidar
Yogyakarta 55592 Jl. Tidar 23-25 Surabaya 60251
ATMI Jl. Mojo No. 1 Karangasem Laweyan
Solo 57142
UAJ Mrican Bukit Darmo
Universitas Atmajaya
Mesen Square Ruko Office Park II, Jl. Bukit Darmo Golf
Jl Demangan Baru No.29 A Blok B2 No 09, Surabaya 60226
Ruko Messen Square No.3-4
Kab. Sleman,
Jl. Urip Sumohardjo Kel. Purwodiningkatan
Yogyakarta 55281
Kec. Jebres Solo 57128 Sungkono
Jl. Mayjen Sungkono No 93 Surabaya 60187

MALANG BONDOWOSO NGAWI
Basuki Rachmad Sudirman Sultan Agung

Jl. Basuki Rachmad No. 26-28 Jl. Panglima Besar Sudirman 46 Kel. Dabasah Jl. Raya Sultan Agung No.98 Kel. Ketanggi
Kel. Kauman Kec. Klojen Malang 65119 Kec. Kota Bondowoso 68211 Kec. Ngawi, Ngawi 63211
Ahmad Yani
Jl. A. Yani No. 18-E Kec. Blimbing BANYUWANGI PONOROGO
Kel. Blimbing Malang 65125
Sudirman Gajah Mada
Galunggung Jl. Pb Sudirman 23-25 Banyuwangi 68416 Jl. Gajah Mada No 11 Kel. Kepatihan
Jl. Galunggung No. 58 Kec. Klojen Kec. Ponorogo, Ponorogo 63416
Kel. Gadingkasri Malang 65116 Genteng
Jl. Raya Gajah Mada No. 96, Genteng Kulon,
ITN Kec. Genteng, Banyuwangi 68465 BLITAR
Jl Bendungan Sigura-gura No. 2
Malang, 65145 Merdeka
SITUBONDO Jl. Merdeka No. 111
Merdeka Kel. Kepanjenkidul Kec. Kepanjenkidul
JL. Merdeka Timur No.4 Kel. Kidul Dalam Sepudi Blitar 66112
Kec. Klojen Malang 65119 Jl. Sepudi No 15 A, Situbondo 68322
Kepanjen SIDOARJO
Jl. A. Yani No.6 Kel. Kepanjen Kec. Kepanjen JOMBANG
Kepanjen Malang 65163 Ahmad Yani
Ahmad Yani Jl. A. Yani No. 40 C Kel. Sidokumpul
Jl. A. Yani no. 36 Kec. Jombang Kel. Jombang, Kec. Sidoarjo Sidoarjo 61212
GRESIK Jombang 61400
Kartini BALI
Jl. R.A. Kartini No. 236 Kav. 2 & 3 MOJOKERTO
Kel. Sidomoro Kec. Kebomas Gresik 61122
DENPASAR
Mojopahit
Jl. Mojopahit No. 256 Kel. Mentian Mall Galeria
LAMONGAN Kec. Prajurit Kulon, Mojokerto 61323 Mal Bali Galeria Lantai 2A 08
Jl. By Pass Ngurah Rai Simp. Dewa Ruci
Lamongrejo Denpasar 80361
Jl. Lamongrejo No. 68 Lamongan PROBOLINGGO
Kel. Sidokumpul Kec. Lamongan 62213
Thamrin
Sutomo Jl. MH. Thamrin No 77 Denpasar 80119
Jl. Dr. Sutomo Plaza Blok B no 9-10
JEMBER Probolinggo 67211 Dewi Sartika
Jl. Dewi Sartika Blok I F-G
Diponegoro Komp. Duta Plaza Kel. Desa Dauh Puri Klod
Jl. Diponegoro No. 36, Jember 68111 PASURUAN Kec. Denpasar Barat Denpasar 80114
Pasar Besar Kuta Graha

KEDIRI Jl. Raya Pasar Besar Blok A -1 Kel. Mayangan Jl. By Pass Ngurah Rai No 88 Kuta Denpasar
Kec. Purworejo Pasuruan 67112 80361
Diponegoro
Jl. Diponegoro No. 16 Kel. Balowerti Nusa Dua
Kec. Kota, Kediri 64121 LUMAJANG Komplek Pertokoan Tragia Blok E III No 29
Nusa Dua Denpasar 80363
Sudirman
MADIUN Jl. Panglima Sudirman Pasar Plaza Ruko Sanur
Blok A - 11 Kel. Tompokersan Komplek Pertokoan Sanur Raya
Pahlawan Kec. Lumajang 67311 Jl By Pass Ngurah Rai 29-30 Kel. Sanur
Jl. Pahlawan No. 56, Madiun 63121 Kec. Denpasar Selatan Sanur Denpasar
80228
TULUNGAGUNG
BOJONEGORO Melati
Jl. Melati No. 29 Denpasar Kel. Dangin Puri
Sudirman
Kaja Kec. Denpasar Utara Denpasar 80233
Gajah Mada Jl. Panglima Sudirman No.79 Kel. Kepatihan
Jl. Gajahmada No. 99 Bojonegoro 62115 Kec. Tulungagung Tulungagung 66219
Gatot Subroto
Jl. Gatot Subroto No.330 Kel. Tonja,
Kec. Denpasar Timur Denpasar 80111

Singaraja Juanda Jelutung

Jl. Ahmad Yani No.55 Singaraja Kel. Kaliuntu Jl. Ir. H. Juanda No. 29A, Kec. Medan Polonia, Jl. Hayam Wuruk No. 29 – 30 Jambi
Kec. Buleleng Singaraja 81116 Kel. Sukadamai, Medan 20152 36136
Ubud Gatot Subroto

Jl. Raya Andong, Desa Peliatan, Kec. Ubud, Jl. Gatot Subroto 187-AB Medan 20112 KEPULAUAN RIAU
Kab. Gianyar 80571
Iskandar Muda BATAM
Jl. Iskandar Muda 127 Medan 20154
NORTH SUMATERA Sei Panas
Komp. Executive Center Blok I No. 1 ABC
MEDAN DELI SERDANG Jl. Laksamana Bintan Sei Panas Batam 29432
Bukit Barisan Cemara Asri Batu Aji

Jl. Pos (formerly Bukit Barisan) No. 07 Jl. Cemara Boulevard No. G1-11 dan G1-11A Jl. Komplek Cipta Agung No. 5
Medan 20111 Komplek Cemara Asri, Kel. Sempali, (Batu Aji) Batam 29433
Kec. Percut Sei Tuan, Kab. Deli Serdang
20371
M Yamin Batamindo
Jl. Prof. HM. Yamin SH 80 Medan 20231 Plaza Batamindo 1st Floor, No. A1-3.
Jl. Rasamala 20 Muka Kuning Sei Beduk.
Gajah Mada PEMATANG SIANTAR Batam 29433
Jl. Gajah Mada No. 11 Medan 20153
Merdeka Nagoya
Jl. Merdeka 5 Pematang, Siantar 21117 Kompleks Lumbung Rezeki Blok G 6 7 8
Marelan
Jl. Marelan Raya No. 8 Pasar IV Jl. Sultan A. Rahman Batam 29422
Kec. Medan Marelan Perdagangan
Kel. Rengas Pulau, Marelan Medan 20255 Jl. SM Raja 608 Perdagangan I Kab. Adhya Building
Simalungun Kec. Bandar Kel. Perdagangan I Adhya Building Batam
Pematang Siantar 21184 Komp. Ruko Permata Niaga Batam 29462
Sutomo Ujung
Jl. Sutomo Ujung 247-249 Kel. Durian
Kec. Medan Timur Medan 20235 Tebing Tinggi Botania
Jl. Sudirman 175-BC Tebing Tinggi 20611 Komp. Pertokoan Botania Blok A2 No.1
Yos Sudarso Kel. Berlian Kec. Batam Kota Riau 29464
Jl. Yos Sudarso 225-J Kel. Pulo Brayan Kota
Kec. Medan Barat Medan 20116 RANTAU PRAPAT Penuin Centre
Penuin Centre Blok F No.11 Batam 29411
Centre Point Ahmad Yani
Centre Point Lt. 1, Jl. Jawa No. 8, Medan, Jl. Ahmad Yani No.73 C-D Labuhan Batu
Sumatera Utara, 20231 Rantau Prapat 21412 TANJUNG PINANG
Podomoro City Deli Park Merdeka

Deli Park Podomoro City, L3A-19, BINJAI Jl. Merdeka No 11 Kel. Tanjungpinang Kota
Jl. Guru Patimpus No.1, Medan 20111 Kec. Tanjungpinang Kota
Sudirman Tanjung Pinang 29111
Pemuda Jl. Jend Sudirman No.348-350 Binjai 20711
Jl. Pemuda No.14-AB Medan 20117 Kijang
Jl. Hang Lekir
AR Hakim WEST SUMATERA (Hang Jebat) RT/RW 001/01 Kp. Pisang Kijang
Jl. Ar. Hakim 70-72 Medan 20216 Kelurahan Kijang Kota
Kecamatan Bintan Timur Tanjung Pinang
Sudirman 29151
Bandung Jl. Jend. Sudirman No.16. kel. Sawahan
Jl. Bandung 42-44 Medan 20212 Kec. Padang Timur Padang
Sumatera Barat 25112
Asia RIAU
Jl. Asia No. 108 Medan 20214 Pondok
Jl. Pondok No.82 g Kel. Imam Bonjol DUMAI
KS Tubun Kec. Padang Selatan, Padang 25211
Jl. Aip II Ks. Tubun 1-3 Medan 20111 Sultan Syarif Qasim
M Yamin Jl. Sultan Syarif Qasim no.177
Jl. Moh. Yamin No.148, Kel. Olo Kec.Dumai Timur Kel. Bintan Dumai 28811
Icon
Gedung Wisma Global Jl. Listrik/Jl. Imam Kec. Padang Barat, Padang 25112
Bonjol/Jl.Mayjend Sutoyo Siswomiharjo
Medan 20112 PEKANBARU
JAMBI
Polonia Duri
Hotel Polonia Jl. Sudirman 14 Medan 20152 Sutomo Jl. Hangtuah No. 692 Kec. Mandau
Jl. Dr. Sutomo No.31 Jambi 36113 Kel. Air Jamban Duri Pekanbaru 28884

Sudirman EAST KALIMANTAN KETAPANG

Jl. Jend. Sudirman 163-165 Pekanbaru 28112
BALIKPAPAN MT Haryono
Tuanku Tambusai Jl. Letnan Jendral M.T. Haryono No.138
Jl. Tuanku Tambusai 320-H Kec. Tampan Ahmad Yani A Kel. Tengah Kab. Ketapang Kecamatan
Kel. Labuh Baru Pekanbaru 28291 Jl. Jend. Ahmad Yani No. 83 Delta Pawan Ketapang Kalimantan Barat
Kel. Gunung Sari Ilir Kec. Balikpapan Tengah 78812
Riau Balikpapan 76121
Ruko Jl. Riau No.20 b Pekanbaru 28292
Ruko Baru NORTH KALIMANTAN
Panam Komp. Balikpapan Baru Blok B2 No.2
Komp. Metropolitan Blok C No.116 Jl. MT. Haryono Komp. Bpp. Baru Kel. Damai Karang Anyar
Jl. HR Subrantas Panam Pekanbaru 28294 Kec. Balikpapan Selatan Balikpapan 76114 Jl. Mulawarman 32-34,
Kel. Karang Anyar, Kec. Tarakan Barat,
MT Haryono Tarakan, Kalimantan Utara 77111
KEPULAUAN BANGKA BELITUNG Ruko Jl. MT Haryono 10 I - 10 J, Kel. Damai,
Kec Balikpapan Selatan, Balikpapan 76114
Masjid Jamik SOUTH-EAST SULAWESI
Jl. Masjid Jamik Kel. Masjid Jamik
Kec. Rangkui Pangkal Pinang Bangka 33132 SAMARINDA KENDARI
KH Khalid Mandonga
SOUTH SUMATERA Jl. KH. Khalid No. 32, Samarinda 75111 Jl. Drs. Hj. Abdullah Silondae Kel. Mandonga
Kec. Mandonga Kendari,
PALEMBANG Simpang Merak Sulawesi Tenggara 93111
Komplek Ruko Simpang Merak
Sudirman Jl. S. Parman Blok C-24 Samarinda 75117
Jl. Jend. Sudirman No. 132 B Kec. Ilri Timur I NORTH SULAWESI
Kel. 20 Ilir I Palembang 30129 Bung Tomo
Jl. Bung Tomo Rt 13 MANADO
Kolonel Atmo Samarinda 75132
Jl. Kolonel Atmo No.591 Palembang 30125 Walanda Maramis
Jl. Walanda Maramis No.137 Manado 95122
Mesjid Lama SOUTH KALIMANTAN
Jl. Mesjid Lama No.110-111 Palembang Mega Mas
30125 BANJARMASIN Jl. Pierre Tendean Kawasan Ruko Mega Mas
Blok 1c No.5-6, Manado 95111
Icon Mall Pangeran Samudera
Palembang Icon Mall, L1-06, Jl. Pangeran Samudera No.26 Sam Ratulangi
Jl. POM IX RT 30, RW 09, Kec. Ilir Barat Banjarmasin 70111 Jl. Sam Ratulangi No. 205
Palembang 30137 Manado 95113
Ahmad Yani 56
Jl. A. Yani Km. 2,5 No 56
LAMPUNG Banjarmasin 70233 SOUTH SULAWESI
Malahayati MAKASSAR
Jl. Laks. Malahayati No. 34-40 BANJAR BARU
Lampung 35224
Ahmad Yani
Ahmad Yani Mitramas Jl. Ahmad Yani No. 33 Makassar 90174
Tanjung Karang KCP Banjarbaru Jl. A. Yani Km 35,
Jl. Jendral Sudirman No.7C-7D, RT 005 RW 001 Kel. guntung Paikat,
Bandar Lampung 35118 Kec. Banjarbaru Selatan Banjar Baru 70713 Bandang
Jl. Bandang No. 10-12 Makassar 90155
WEST KALIMANTAN Trans Studio

CENTRAL KALIMANTAN Mall Trans Studio Makassar, LG B - 05,
Jln HM DG Patompo Metro Tanjung Bunga,
Murjani PONTIANAK Makassar 90224
Jl. Dr. Murjani No.9, RT 1, RW 7,
Kel. Pahandut, Kec. Pahandut, Tanjungpura Sam Ratulangi
Palangkaraya, 73112 Jl. Tanjungpura Pontianak 78117 Jl. Dr. Sam Ratulangi No.110 Makassar 90125
Sultan Abdurrahman Panakukang

Jl. Sultan Abdurrahman No. 2-3, Kel. Jl. Raya Boulevard Ruko Rubby No.2
Akcaya, Kec. Pontianak Selatan, Pontianak Panakukang Makassar 90231
Kalimantan Barat 78121

MALUKU SHARIA BRANCHES SOLO

AMBON HEAD OFFICE Slamet Riyadi 136 (Co-Location)
Jl. Slamet Riyadi 136, Solo 57131
Sam Ratulangi Jakarta - Menara Sudirman
Jl. Sam Ratulangi No. 89 Kel. Gd. Menara Sudirman, Jl. Jend. Sudirman
Honipopu Kec. Sirimau Ambon 96127 Kav. 60 - Jakarta Selatan 12190 YOGYAKARTA
Sudirman (Co-Location)
PAPUA JAKARTA Jl. Jend. Sudirman No.50 Yogyakarta 55233
JAYAPURA Kemenag Jakarta Timur

Jl. Terusan I Gusti Ngurah Rai, Pondok Kopi, SURABAYA
Pasifik Permai Jakarta Timur 13340
Komp. Jayapura Pasifik Permai D9 - 10 Darmo (Co-Location)
Kel. Bhayangkara Kec. Jayapura Utara Sentraya (Co-Location) Jl. Raya Darmo No. 28 Surabaya 60264
Jayapura 99112 Menara Sentraya Jl. Iskandarsyah II No. 2
MALANG
MIMIKA
BOGOR Soekarno Hatta
Kuala Kencana Jl. Soekarno Hatta No.2-2A, Kel. Jatimulyo,
Kuala Kencana Center Suite 103 Timika Juanda (Co-Location) Kec. Lowokwaru, Malang 65142
Papua 99920 KCS Bogor
Jl. Ir. H. Juanda No. 12 Bogor 16121
Budi Utomo BALI
Jl. Budi Utomo No.99B, RT 9, RW, Kel. Inauga,
Kec. Wania, Mimika, 99910
TANGERANG Thamrin (Co-Location)
Jl. MH Thamrin No.77, Denpasar 80119
Ridge Camp Serpong (Co-Location)
Plaza Agawaa Ogom 3rd Floor, Ridge Camp,
Jl. Gading Serpong Boulevard Ba 02
Tembagapura, Timika, 99967
No.28&29 Gading Serpong, Tangerang,
Banten 15810
MATARAM
Tembagapura II
Family Shoping Mile 68 Tembagapura Kuta Mandalika
Timika - Papua 99930 Jl. Pariwisata Kuta, Baturiti Kuta, Kec Pujut,
BANDUNG Kab. Lombok Tengah,
Nusa Tenggara Barat, 83573
Tembagapura I
Single Shoping Mile 68 Tembagapura Timika
Lembong (Co-Location)
Jl. Lembong No. 7 Bandung 40111
- Papua 99930
MAKASSAR
Kemenag Kota
Kantor Kementerian Agama Kota Bandung
WEST NUSA TENGGARA Jl Soekarno Hatta No.498 Batununggal,
Achmad Yani
Jl. Achmad Yani 37 C - D Makassar 90174
Bandung Kidul, Kota Bandung 40266
MATARAM
Kemenag Kabupaten
Pejanggik Jl. Adipati Agung No 42 Baleendah
BANJARMASIN
Ruko Jl. Pejanggik Cakaranegara, Kabupaten Bandung 40258
Mataram 83239 Ahmad Yani (Co-Location)
Jl. A Yani Km 2,5 No 56 Banjarmasin 70233
CIREBON
EAST NUSA TENGGARA
Siliwangi (Co-Locate) SAMARINDA
KUPANG Jl. Siliwangi No. 110 Cirebon 45123
Juanda
Lalamentik Jl. Ir. H. Juanda No.216C, Samarinda 75124
Jl. Wj Lalamentik Kupang 85111 SEMARANG

Pemuda 21B
Jl. Pemuda No. 21b Semarang 50139

JAMBI MOBILE BRANCHES Mobile Cash - Yogyakarta 1

Jl. Jend. Sudirman No. 50 Yogyakarta 55233
Hayam Wuruk (Co-Location) Mobile Cash - Pusat
Jl. Hayam Wuruk No. 29 – 30, Jambi 36136 Niaga Tower Graha Cimb Niaga Mobile Cash - Yogyakarta 2
Jl. Jend. Sudirman Kav. 58 Jl. Jend. Sudirman No. 50 Yogyakarta 55233
LAMPUNG Mobile Cash - Surabaya 1
Mobile Cash - Pusat 2 Jl. Raya Darmo No. 26 Surabaya 60264
Kelapa Gading TN
Hasanudin
Jl. Hasanudin No.90E, Bandar Lampung
Jl. Bulevard Raya Blok TN II No. 1-4 Mobile Cash - Surabaya 2
Kelapa Gading Jakarta Utara 14240 Jl. Raya Darmo No. 26 Surabaya 60264
35224

Mobile Cash - Tebet 1 Mobile Cash - Malang 1
Jl. Prof Dr Soepomo 47, Kec. Tebet,
LHOKSEUMAWE Kel. Tebet Barat, Jakarta Selatan 12810
Jl. Basuki Rachmad No. 26-28 Kel. Kauman
Kec. Klojen Malang 65119

Suka Ramai Mobile Cash - Tebet 2
Jl. Suka Ramai No.24, Lhokseumawe 24314 Mobile Cash - Malang 2
Jl. Prof Dr Soepomo 47, Kec. Tebet, Jl. Basuki Rachmad No. 26-28 Kel. Kauman
Kel. Tebet Barat, Jakarta Selatan 12810 Kec. Klojen Malang 65119
BANDA ACEH Mobile Cash - Sawah Besar 2 Mobile Cash – Denpasar

Jl. S. Wiryopranoto no. 9 Jakarta Barat 11160 Jl. MH. Thamrin No 77 Denpasar 80119
Peunayong
Jl. Sri Ratu Safiatuddin No.33-35-37 Mobile Cash - Daan Mogot
Kel. Peunayong Kec. Kuta Alam
Mobile Cash – Medan
Jl. Daan Mogot No.95 C Kec. Kebon Jeruk Jl. Pos (d/h Bukit Barisan) No. 07 Medan
Banda Aceh 23122 Kel. Duri Jakarta Barat 11510 20111
Mobile Cash – Bandung Mobile Cash – Padang

PALEMBANG Wisma CIMB Niaga Jl. Jend. Sudirman No.16. kel. Sawahan
Jl. Jend Gatot Subroto No.2 Bandung 40262 Kec. Padang Timur Padang - Sumatera Barat
Letkol Iskandar 25112
Jl Letkol Iskandar 24 Ili Palembang 30121 Mobile Cash - Bandung 2
Wisma CIMB Niaga Mobile Cash – Batam
Jl. Jend Gatot Subroto No.2 Bandung 40262 Komp. Executive Center Blok I No. 1 ABC
PEKANBARU Jl. Laksamana Bintan Sei Panas
Mobile Cash – Cirebon Batam 29432
Sudirman Jl. Yos Sudarso No.26 Cirebon 45111
Jl. Jend. Sudirman No. 255 Cd, Mobile Cash – Pekanbaru
Pekanbaru 28112 Mobile Cash - Bogor Pajajaran Jl. Jend. Sudirman 163-165 Pekanbaru 28112
Jl. Pajajaran No. 33 Bogor 16128
Mobile Cash – Palembang
PADANG Mobile Cash - Bekasi Cikarang Jl. Jend. Sudirman No. 132 B Kec. Ilri Timur I
Gd Menara Pacific Lantai Dasar Kel. 20 Ilir I Palembang 30129
Jl. MH Thamrin Lippo Cikarang Bekasi 17550
Sudirman (Co-Location)
Jl. Jend. Sudirman No.16 Padang 25112 Mobile Cash – Lampung
Mobile Cash - Bintaro Griya Niaga Jl. Laks. Malahayati No. 34-40 Lampung
Griya Niaga II 35224
Jl. Wahid Hasyim Blok B-IV No. 3
MEDAN Bintaro Jaya Sektor VII Tangerang 15224 Mobile Cash – Samarinda
Jl. KH. Khalid No.32 Samarinda 75111
Gatot Subroto (Co-Location) Mobile Cash - Alam Sutera Icon
Jl. Gatot Subroto 187 A-B Medan 20112
Synergi Building Mobile Cash – Pontianak
(D/H Alam Sutera Office Tower) Lg Dan Ug Jl. Tanjungpura Pontianak 78117
Jl. Jalur Sutera Barat Kav.17 Alam Sutera
BATAM Serpong - Tangerang 15325
Mobile Cash – Makassar
Jl. Ahmad Yani No. 33 Makassar 90174
Mahkota Raya Mobile Cash – Solo
Ruko Mahkota Raya Blok C No. 12B & 15, Jl. Slamet Riyadi No. 8 Solo 57111
Batam Center – Batam 29461
Mobile Cash - Mataram
Jl. Pejanggik No. 107 A – 107 B, Cakranegara,
Mobile Cash - Semarang 1 Kota Mataram, Nusa Tenggara Barat, 83239
Jl. pemuda 102-104 Semarang 50133
Mobile Cash - Semarang 2

Jl. pemuda 102-104 Semarang 50133
Mobile Cash – Solo

Jl. Slamet Riyadi No. 8 Solo 57111


Consolidated
Financial
Statements
Consolidated Financial Statements 723

PT BANK CIMB NIAGA Tbk

DAN ENTITAS ANAK/AND SUBSIDIARIES
LAPORAN KEUANGAN KONSOLIDASIAN/
CONSOLIDATED FINANCIAL STATEMENTS
31 DESEMBER 2020, 2019, DAN 2018,

SERTA UNTUK TAHUN-TAHUN YANG BERAKHIR
31 DESEMBER 2020, 2019, DAN 2018/
31 DECEMBER 2020, 2019, AND 2018
AND FOR THE YEARS ENDED
31 DECEMBER 2020, 2019, AND 2018




LAPORAN POSISI KEUANGAN KONSOLIDASIAN CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

31 DESEMBER 2020, 2019, DAN 2018 31 DECEMBER 2020, 2019, AND 2018
(Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain) (Expressed in millions of Rupiah, unless otherwise stated)
Catatan/ December December

Notes 2020 2019 2018
ASET ASSETS
Kas 2e,2f,2i,4 4,777,284 5,693,065 4,293,370 Cash
Giro pada Bank Indonesia 2e,2f,2j,5 6,221,892 11,395,695 10,435,254 Current accounts with Bank Indonesia
Giro pada bank lain 3,697,487 2,162,195 3,093,901 Current accounts with other banks
Dikurangi: Cadangan kerugian Less: Allowance for
penurunan nilai - - - impairment losses
2e,2f,2h,2j,2ai,6,49 3,697,487 2,162,195 3,093,901
Penempatan pada bank lain Placement with other banks

dan Bank Indonesia 13,342,250 12,133,873 9,240,574 and Bank Indonesia
penurunan nilai (8,100) (29,143) (13,299) impairment losses
2e,2f,2h,2k,7 13,334,150 12,104,730 9,227,275
Efek-efek 9,326,501 12,000,711 10,715,002 Marketable securities

2e,2f,2h,2l,8 9,310,186 11,962,665 10,676,225
Obligasi Pemerintah 2e,2f,2l,9 55,828,799 22,160,303 23,999,772 Government Bonds
Efek-efek yang dibeli dengan janji Securities purchased under

dijual kembali 2f,2m,10 2,305,523 522,857 593,593 resale agreements
Tagihan derivatif 2e,2f,2n,11 1,359,286 725,478 1,084,759 Derivative receivables
Kredit yang diberikan Loans

Pihak berelasi 2f,2ai,12,49 221,400 232,557 296,480 Related parties
Pihak ketiga 2e,2f,2o,12 171,448,991 190,750,561 185,966,151 Third parties
171,670,391 190,983,118 186,262,631
penurunan nilai (11,818,607) (5,984,978) (5,951,354) impairment losses
2e,2f,2h,2o,2ai,12,49 159,851,784 184,998,140 180,311,277
Piutang pembiayaan konsumen 3,084,202 3,254,233 2,199,800 Consumer financing receivables

2f,2h,2p,13 2,977,849 3,179,370 2,052,802
Piutang sewa pembiayaan - 180 5,106 Financing lease receivables

penurunan nilai - (180) (3,926) impairment losses
2f,2h,2q,14 - - 1,180
Catatan atas laporan keuangan konsolidasian merupakan bagian yang tidak The accompanying notes form an integral part
terpisahkan dari laporan keuangan konsolidasian. of these consolidated financial statements.
Halaman – 1/1 – Page

CIMB NIAGA ANNUAL REPORT 2020

Catatan/ October December

Notes 2020 2019 2018
ASET (lanjutan) ASSETS (continued)
Tagihan akseptasi 2,153,756 3,767,071 4,462,483 Acceptance receivables

penurunan nilai (131,091) - - impairment losses
2e,2f,2h,2r,15 2,022,665 3,767,071 4,462,483
Penyertaan 4,214 4,214 4,214 Investments

penurunan nilai (555) (555) (555) impairment losses
2f,2h,2s,16 3,659 3,659 3,659
Aset tetap 9,427,365 8,222,562 8,220,380 Fixed assets

Dikurangi: Akumulasi penyusutan (2,437,644) (1,974,281) (2,767,098) Less: Accumulated depreciation
2x,2t,17 6,989,721 6,248,281 5,453,282
Aset takberwujud 3,377,482 3,105,497 2,817,351 Intangible assets

Dikurangi: Akumulasi amortisasi (1,612,272) (1,401,448) (1,221,073) Less: Accumulated amortisation
2u,18 1,765,210 1,704,049 1,596,278
Aset yang diambil alih 437,558 180,861 385,240 Foreclosed assets

2h,2v,19 294,080 51,103 207,760
Uang muka pajak 2af,31a 1,930,704 1,644,089 1,892,270 Prepaid taxes

Pendapatan bunga yang masih akan diterima 2e,2f,20 2,501,602 1,239,731 1,257,224 Accrued interest income
Beban dibayar dimuka 2w,2ai,21,49 1,024,632 1,373,464 1,294,384 Prepaid expenses
Aset pajak tangguhan - bersih 2af,31d 738,427 18,458 99,863 Deferred tax assets - net
Aset lain-lain 4,452,978 3,954,380 5,185,188 Other assets
2f,2h,2w,2x,2ai,22,49 4,008,665 3,512,824 4,744,887
JUMLAH ASET 280,943,605 274,467,227 266,781,498 TOTAL ASSETS



Notes 2020 2019 2018
LIABILITAS DAN EKUITAS LIABILITIES AND EQUITY
LIABILITAS LIABILITIES
Liabilitas segera 2f,2y,23 3,636,684 1,781,962 2,240,191 Obligations due immediately
Simpanan dari nasabah Deposits from customers
Giro Demand deposits
Pihak berelasi 2e,2ai,24,49 138,388 75,132 83,253 Related parties
Pihak ketiga 2e,2f,2z,24 55,724,159 48,868,781 45,773,898 Third parties
55,862,547 48,943,913 45,857,151
Tabungan Saving deposits
67,861,369 59,316,069 54,495,883
Deposito berjangka Time deposits
83,805,508 87,340,318 90,397,184
Jumlah simpanan dari nasabah 207,529,424 195,600,300 190,750,218 Total deposits from customers
Simpanan dari bank lain Deposits from other banks

Giro dan tabungan 2e,2f,2z,2ai,27,49 1,313,817 1,099,645 1,439,890 Demand and saving deposits
Inter-bank call money dan Inter-bank call money and
deposito berjangka 2e,2f,2z,28 1,587,739 264,941 1,488,803 time deposits
2,901,556 1,364,586 2,928,693
Efek-efek yang dijual dengan janji Securities sold under

dibeli kembali 2f,2m,10 8,656,643 10,470,737 11,940,900 repurchase agreement
Liabilitas derivatif 2e,2f,2n,2ai,11,49 738,351 474,915 684,269 Derivative payables
Liabilitas akseptasi 2e,2f,2r,15 2,153,756 3,767,071 4,462,483 Acceptance payables
Efek-efek yang diterbitkan 2f,2aa,29 6,565,604 7,503,112 5,269,757 Marketable securities issued
Pinjaman yang diterima 2e,2f,2ai,2ab,30 933,433 2,647,013 2,195,916 Borrowings
Utang pajak 2af,31b Taxes payable
- Pajak penghasilan badan induk perusahaan 74,259 171,824 203,066 Corporate income taxes of parent company -
- Pajak lain-lain 226,933 326,717 258,075 Other taxes -
301,192 498,541 461,141
Liabilitas pajak tangguhan - bersih 2af,31d - 73,238 - Deferred tax liabilities - net
Beban yang masih harus dibayar Accruals and other
dan liabilitas lain-lain liabilities
- Beban yang masih harus dibayar 2f,32a 3,314,704 3,002,769 2,665,340 Accruals -
- Liabilitas lain-lain 2f,32b 1,836,689 1,035,915 929,398 Other liabilities -
5,151,393 4,038,684 3,594,738
Liabilitas imbalan kerja 2ag,45 1,098,334 1,131,727 930,196 Employee benefit obligations
Pinjaman subordinasi 2f,2ab,33 224,184 1,821,175 1,742,417 Subordinated loans
JUMLAH LIABILITAS 239,890,554 231,173,061 227,200,919 TOTAL LIABILITIES



Notes 2020 2019 2018
EKUITAS EQUITY
Ekuitas diatribusikan kepada Equity attributable to
pemilik entitas induk owners of the parent
Modal saham biasa Share capital
Modal dasar 71.853.936 Authorised capital 71,853,936
saham biasa kelas A, dengan class A ordinary shares with
nilai nominal Rp 5.000 (nilai penuh) par value of Rp 5,000 (full
per saham dan 50.814.606.400 amount) per share, and
saham biasa kelas B, 50,814,606,400 class B
dengan nilai nominal Rp 50 ordinary shares with par value
(nilai penuh) per saham of Rp 50 (full amount) per share
Modal ditempatkan dan disetor penuh Issued and fully paid
71.853.936 lembar saham biasa kelas A dan 71,853,936 class A ordinary shares
25.059.752.907 lembar saham biasa kelas B and 25,059,752,907 class B ordinary shares
pada tanggal 31 Desember 2020, 2019 dan 2018 34 1,612,257 1,612,257 1,612,257 as at 31 December 2020, 2019 and 2018
Tambahan modal disetor 2c,34 7,033,450 7,033,450 7,033,450 Additional paid in capital
Transaksi dengan kepentingan nonpengendali (35,723) (35,723) (35,723) Transactions with non-controlling interest
Saham treasuri 2aj, 34 (253,832) (253,279) (250,321) Treasury shares
Cadangan kompensasi berbasis saham 96,430 95,520 86,453 Share-based compensation reserve
Selisih penilaian kembali aset tetap 2t,17 3,515,604 3,520,447 3,077,883 Reserve on revaluation of fixed assets
Keuntungan/(kerugian) yang belum direalisasi Unrealised gains/(losses) of marketable securities and
atas efek-efek dan obligasi pemerintah dalam kelompok government bonds on fair value through
nilai wajar melalui penghasilan komprehensif lain 2l 1,145,286 (138,554) (436,355) other comprehensive income
Cadangan umum dan wajib 35 351,538 351,538 351,538 General and statutory reserve
Saldo laba 27,573,929 31,093,235 28,140,392 Retained earnings
41,038,939 43,278,891 39,579,574
Kepentingan nonpengendali 2c,50 14,112 15,275 1,005 Non-controlling interest
Jumlah ekuitas 41,053,051 43,294,166 39,580,579 Total equity
JUMLAH LIABILITAS TOTAL LIABILITIES
DAN EKUITAS 280,943,605 274,467,227 266,781,498 AND EQUITY

LAPORAN LABA RUGI DAN PENGHASILAN CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND
KOMPREHENSIF LAIN KONSOLIDASIAN OTHER COMPREHENSIVE INCOME
UNTUK TAHUN-TAHUN YANG BERAKHIR FOR THE YEARS ENDED
Catatan/
Notes 2020 2019 2018
PENDAPATAN DAN BEBAN INCOME AND EXPENSES
OPERASIONAL FROM OPERATIONS
Pendapatan bunga 2ac,2ai,36,49 17,248,452 18,396,236 18,346,593 Interest income

Pendapatan syariah 2ac,2ai,36,49 3,454,647 3,293,250 1,946,654 Sharia income
Beban bunga 2ac,2ai,37,49 (6,212,158) (7,050,137) (7,256,236) Interest expense

Beban syariah 2ac,2ai,37,62 (2,020,423) (2,071,331) (1,025,280) Sharia expense
Pendapatan bunga dan syariah - bersih 12,470,518 12,568,018 12,011,731 Net interest and sharia income
Pendapatan operasional lainnya: Other operating income:

Provisi dan komisi lainnya 2ad,38 1,738,053 2,206,680 2,151,855 Other fees and commissions
(Kerugian)/keuntungan transaksi mata uang asing 2e (178,063) 2,937 38,323 Foreign exchange (losses)/gains
Lain-lain 381,596 1,083,002 724,472 Others
Jumlah pendapatan operasional Total other operating
lainnya 1,941,586 3,292,619 2,914,650 income
Kerugian penurunan nilai atas aset keuangan Impairment losses on financial
dan nonkeuangan - bersih 2h,39 (5,403,886) (3,256,619) (3,029,532) and non-financial assets - net
Keuntungan dari instrumen keuangan Gains from trading
yang diperdagangkan - bersih 2n,2l,40 1,140,561 586,536 802,607 financial instruments - net
Keuntungan dari penjualan efek-efek - bersih 2l,41 805,860 377,557 99,015 Gains from sale of marketable securities - net
Beban operasional lainnya: Other operating expenses:
Beban tenaga kerja 2ae,42 (4,270,770) (4,623,722) (4,001,791) Personnel expenses
Beban umum dan administrasi 2ae,43 (3,626,589) (3,828,664) (3,708,500) General and administrative expenses
Lain-lain (203,425) (181,978) (293,837) Others
Jumlah beban operasional lainnya (8,100,784) (8,634,364) (8,004,128) Total other operating expenses
LABA OPERASIONAL BERSIH 2,853,855 4,933,747 4,794,343 NET OPERATING INCOME
PENDAPATAN BUKAN OPERASIONAL INCOME FROM NON OPERATIONS

Pendapatan bukan operasional - bersih 44 93,565 20,150 56,475 Non operating income - net
LABA SEBELUM PAJAK INCOME BEFORE

PENGHASILAN 2,947,420 4,953,897 4,850,818 INCOME TAX
BEBAN PAJAK PENGHASILAN 2af,31c (936,166) (1,310,962) (1,368,390) INCOME TAX EXPENSE
LABA BERSIH 2,011,254 3,642,935 3,482,428 NET INCOME

LAPORAN LABA RUGI DAN PENGHASILAN CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND
KOMPREHENSIF LAIN KONSOLIDASIAN OTHER COMPREHENSIVE INCOME
Catatan/ 10 Bulan/ 9 Bulan/

Notes 2020 2019 2018
Laba bersih 2,011,254 3,642,935 3,482,428 Net income
Penghasilan komprehensif lain: Other comprehensive income:
Pos-pos yang tidak akan direklasifikasi ke laba rugi Items that will not be reclassified to profit or loss
Pengukuran kembali atas program imbalan pasti Remeasurement of post employment
keuntungan/(kerugian) aktuarial 2ag (555) 5,565 243,638 benefits obligation actuarial gains/(losses)
Selisih penilaian kembali aset tetap 2t,17 (4,843) 490,097 - Reserve on revaluation of fixed assets
(5,398) 495,662 243,638
Pajak penghasilan terkait pos-pos yang tidak Income tax relating to item that will not be
akan direklasifikasi ke laba rugi 31d 111 (48,924) (60,909) reclassified to profit or loss
(5,287) 446,738 182,729
Item that will be reclassified subsequently to
Pos-pos yang akan direklasifikasi ke laba rugi profit or loss
Keuntungan yang belum direalisasi atas perubahan nilai Unrealised gains from changes in fair value of marketable
wajar dari efek-efek dan obligasi pemerintah dalam securities and government bonds on fair value through
kelompok nilai wajar melalui penghasilan komprehensif lain 2l,8,9 1,604,114 351,428 (553,597) other comprehensive income
Penyesuaian reklasifikasi atas Reclassification adjustment on (losses)/gains
(kerugian)/keuntungan yang termasuk dalam laba rugi (34,280) 45,640 (62,639) which already included in profit or loss
1,569,834 397,068 (616,236)
Pajak penghasilan terkait pos-pos yang Income tax relating to item that will be
akan direklasifikasi ke laba rugi 31d (285,994) (99,267) 154,059 reclassified to profit or loss
1,283,840 297,801 (462,177)
PENGHASILAN KOMPREHENSIF LAIN - OTHER COMPREHENSIVE INCOME -
SETELAH PAJAK 1,278,553 744,539 (279,448) NET OF TAX
JUMLAH PENGHASILAN KOMPREHENSIF 3,289,807 4,387,474 3,202,980 TOTAL COMPREHENSIVE INCOME
Laba bersih yang dapat diatribusikan

kepada: Net income attributable to:
Pemilik entitas induk 2,012,401 3,645,154 3,482,304 Equity holders of the parent
Kepentingan nonpengendali 50b (1,147) (2,219) 124 Non-controlling interest
2,011,254 3,642,935 3,482,428
Jumlah penghasilan komprehensif yang Total comprehensive income

dapat diatribusikan kepada: attributable to:
Pemilik entitas induk 3,290,954 4,389,693 3,202,856 Equity holders of the parent
Kepentingan nonpengendali 50b (1,147) (2,219) 124 Non-controlling interest
3,289,807 4,387,474 3,202,980
LABA PER SAHAM EARNINGS PER SHARE

(dalam nilai penuh Rupiah (expressed in Rupiah full
per saham) 2ah,47 amount per share)
Dasar 80.72 146.21 139.67 Basic
Dilusian 80.72 146.21 139.67 Diluted

LAPORAN PERUBAHAN EKUITAS KONSOLIDASIAN CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

Diatribusikan kepada pemilik entitas induk/Attributable to equity holders of the parent
(Kerugian)/
keuntungan yang
belum direalisasi atas
efek-efek dan obligasi
pemerintah diukur
pada nilai wajar
melalui penghasilan
komprehensif lain
setelah pajak/ Saldo laba yang
Unrealised telah ditentukan
gains/(losses) on fair penggunaannya -
Transaksi dengan Cadangan Selisih penilaian value through other cadangan umum
kepentingan non kompensasi kembali aset comprehensive dan wajib/ Saldo laba yang
Tambahan modal pengendali/ berbasis saham/ tetap/ income marketable Appropriated belum ditentukan Kepentingan
disetor/ Transaction with Share based Reserve on securities and retained earnings penggunaannya/ nonpengendali/
Catatan/ Modal saham/ Additional paid in non-controlling compensation revaluation of government bonds Saham treasuri/ - general and Unappropriated Non-controlling Jumlah ekuitas/
Notes Share capital capital interest reserve fixed assets net of tax Treasury shares statutory reserve retained earnings Jumlah/ Total interest Total equity
Saldo 1 Januari 2020 1,612,257 7,033,450 (35,723) 95,520 3,520,447 (138,554) (253,279) 351,538 31,093,235 43,278,891 15,275 43,294,166 Balance as at 1 January 2020
Implementasi penerapan PSAK 71, setelah pajak - - - - - - - - (4,139,102) (4,139,102) - (4,139,102) SFAS 71 implementation, net of tax
Saldo awal yang disajikan kembali setelah Restated beginning balance
dampak penerapan PSAK 71 1,612,257 7,033,450 (35,723) 95,520 3,520,447 (138,554) (253,279) 351,538 26,954,133 39,139,789 15,275 39,155,064 after impact of SFAS 71 implementation
Jumlah laba komprehensif Total comprehensive income
periode berjalan: for the current period:
- Laba bersih - - - - - - - - 2,012,401 2,012,401 (1,147) 2,011,254 Net income -
- Penghasilan komprehensif lain *) 2l,2af,8,9,31d,45,50 - - - - (4,843) 1,283,840 - - (444) 1,278,553 - 1,278,553 Other comprehensive income*) -
- - - - (4,843) 1,283,840 - - 2,011,957 3,290,954 (1,147) 3,289,807
Transaksi dengan pemilik dalam Transaction with owners in their
kapasitasnya sebagai pemilik: capacity as owners:
- Pembagian dividen tunai atas laba bersih Distribution of cash dividend -
tahun buku 2019 35 - - - - - - - - (1,392,161) (1,392,161) (16) (1,392,177) on 2019 financial year net income
- Saham treasuri 2j,34 - - - - - - (553) - - (553) - (553) Treasury shares -
- Cadangan kompensasi berbasis saham - - - 910 - - - - - 910 - 910 Shared based compensation reserve -
- - - 910 - - (553) - (1,392,161) (1,391,804) (16) (1,391,820)
Saldo 31 Desember 2020 1,612,257 7,033,450 (35,723) 96,430 3,515,604 1,145,286 (253,832) 351,538 27,573,929 41,038,939 14,112 41,053,051 Balance as at 31 December 2020
*) Termasuk di dalam saldo laba untuk tahun-tahun yang berakhir 31 Desember 2020, 2019, dan 2018 adalah Included in retained earnings for the years ended 31 December 2020, 2019, and 2018 are the *)
pengukuran kembali atas program imbalan pasti setelah pajak remeasurement of post employment benefits obligation net of tax

Catatan atas laporan keuangan konsolidasian merupakan bagian yang tidak The accompanying notes form an integral part of these consolidated financial statements.
terpisahkan dari laporan keuangan konsolidasian.


Transaksi (Kerugian)/keuntungan yang Saldo laba yang

dengan belum direalisasi atas efek- telah ditentukan
kepentingan Cadangan efek dan obligasi pemerintah penggunaannya -
non kompensasi Selisih penilaian dalam kelompok tersedia cadangan umum
pengendali/ berbasis kembali aset untuk dijual setelah pajak/ dan wajib/ Saldo laba yang
Tambahan Transaction saham/ tetap/ Unrealised gains/(losses) on Appropriated belum ditentukan
modal disetor/ with non- Share based Reserve on available-for-sale retained earnings penggunaannya/ Kepentingan
Catatan/ Modal saham/ Additional controlling compensation revaluation of marketable securities and Saham treasuri/ - general and Unappropriated nonpengendali/ Non- Jumlah ekuitas/ Total
Notes Share capital paid in capital interest reserve fixed assets government bonds net of tax Treasury shares statutory reserve retained earnings Jumlah/ Total controlling interest equity
Saldo 1 Januari 2019 1,612,257 7,033,450 (35,723) 86,453 3,077,883 (436,355) (250,321) 351,538 28,140,392 39,579,574 1,005 39,580,579 Balance as at 1 January 2019
tahun berjalan: for the current year:
- Laba bersih - - - - - - - - 3,645,154 3,645,154 (2,219) 3,642,935 Net income -
- Penghasilan komprehensif lain *) 2l,2ae,8,9,31d,45,50 - - - - 442,564 297,801 - - 4,174 744,539 - 744,539 Other comprehensive income*) -
- - - - 442,564 297,801 - - 3,649,328 4,389,693 (2,219) 4,387,474
tahun buku 2018 35 - - - - - - - - (696,485) (696,485) (11) (696,496) on 2018 financial year net income
- Saham treasuri 2ai,34 - - - - - - (2,958) - - (2,958) - (2,958) Treasury shares -
- Cadangan kompensasi berbasis saham - - - 9,067 - - - - - 9,067 - 9,067 Shared based compensation reserve -
- Modal saham 2d,50 - - - - - - - - - - 16,500 16,500 Share capital -
- - - 9,067 - - (2,958) - (696,485) (690,376) 16,489 (673,887)
Saldo 31 Desember 2019 1,612,257 7,033,450 (35,723) 95,520 3,520,447 (138,554) (253,279) 351,538 31,093,235 43,278,891 15,275 43,294,166 Balance as at 31 December 2019


(Kerugian)/keuntungan yang
belum direalisasi atas efek-efek Saldo laba yang telah
dan obligasi pemerintah dalam ditentukan
Transaksi dengan Cadangan kelompok tersedia untuk dijual penggunaannya -
kepentingan non kompensasi Selisih penilaian setelah pajak/ cadangan umum dan Saldo laba yang belum
Tambahan pengendali/ berbasis saham/ kembali aset tetap/ Unrealised (losses)/gains on wajib/ ditentukan
modal disetor/ Transaction with Share based Reserve on available-for-sale marketable Appropriated retained penggunaannya/ Kepentingan
Catatan/ Modal saham/ Additional paid non-controlling compensation revaluation of fixed securities and government Saham treasuri/ earnings - general and Unappropriated retained nonpengendali/ Non-
Notes Share capital in capital interest reserve assets bonds net of tax Treasury shares statutory reserve earnings Jumlah/ Total controlling interest Jumlah ekuitas/ Total equity
Saldo 1 Januari 2018 1,612,257 7,033,450 (35,723) 57,011 3,077,883 25,822 (242,902) 351,538 25,070,779 36,950,115 881 36,950,996 Balance as at 1 January 2018
tahun berjalan: for the current year:
- Laba bersih - - - - - - - - 3,482,304 3,482,304 124 3,482,428 Net income -
*)
- Penghasilan komprehensif lain 2l,2ae,8,9,31d,45,50 - - - - - (462,177) - - 182,729 (279,448) - (279,448) Other comprehensive income*) -
- - - - - (462,177) - - 3,665,033 3,202,856 124 3,202,980
tahun buku 2017 35 - - - - - - - - (595,420) (595,420) - (595,420) on 2017 financial year net income
- Saham treasuri 2ai,34 - - - - - - (7,419) - - (7,419) - (7,419) Treasury shares -
- Cadangan kompensasi berbasis saham - - - 29,442 - - - - - 29,442 - 29,442 Shared based compensation reserve -
- - - 29,442 - - (7,419) - (595,420) (573,397) - (573,397)
Saldo 31 Desember 2018 1,612,257 7,033,450 (35,723) 86,453 3,077,883 (436,355) (250,321) 351,538 28,140,392 39,579,574 1,005 39,580,579 Balance as at 31 December 2018


LAPORAN ARUS KAS KONSOLIDASIAN CONSOLIDATED STATEMENTS OF CASH FLOWS


Notes 2020 2019 2018
Arus kas dari aktivitas operasi Cash flow from operating activities
Pendapatan bunga, provisi, dan komisi yang diterima 21,173,373 23,903,812 22,213,875 Receipt of interest, fees, and commissions income
Bunga, provisi, dan komisi yang dibayar (7,365,060) (8,420,115) (7,311,760) Payments of interest, fees, and commissions
Penghasilan operasional lainnya yang diterima 381,598 1,083,001 724,471 Other operating income received
Keuntungan transaksi mata uang asing Gains of foreign exchange
dan derivatif - bersih 236,246 1,107,182 (99,500) and derivatives transactions - net
Beban operasional lainnya yang dibayar (6,358,745) (6,206,264) (9,638,983) Other operating expense paid
Pendapatan bukan operasional - bersih (156,016) 40,207 58,832 Non operating income - net
Arus kas sebelum perubahan dalam Cash flow before changes in
aset dan liabilitas operasi 7,911,396 11,507,823 5,946,935 operating assets and liabilities
Perubahan dalam aset dan liabilitas: Changes in assets and liabilities :
Penurunan/(kenaikan) aset: Decrease/(increase) in assets:
Efek-efek dan Obligasi Pemerintah Fair value through profit or loss marketable securities
untuk tujuan diukur pada nilai wajar melalui laba rugi (4,111,287) (943,180) 2,394,084 and Government Bonds
Efek-efek yang dibeli dengan janji dijual kembali (1,782,666) 70,736 (593,593) Securities purchased under resale agreements
Kredit yang diberikan 15,509,561 (8,040,870) (8,861,562) Loans
Tagihan akseptasi 1,744,406 695,412 (277,518) Acceptance receivables
Piutang pembiayaan konsumen dan sewa pembiayaan 201,701 (1,049,507) 1,524,785 Consumer financing receivables and lease receivables
Aset lain-lain dan beban dibayar dimuka - - - Other assets and prepaid expenses
Kenaikan/(penurunan) liabilitas: Increase/(decrease) in liabilities:
Simpanan nasabah 11,929,124 4,850,082 1,433,022 Deposits from customers
Simpanan dari bank lain 1,536,970 (1,564,107) (3,955,642) Deposits from other banks
Efek-efek yang dijual dengan janji dibeli kembali (1,814,094) (1,470,163) 2,562,197 Securities sold under repurchase agreement
Liabilitas akseptasi (1,613,315) (695,412) 277,518 Acceptance payables
Utang pajak (197,349) (12,045) 28,039 Taxes payable
Pajak penghasilan yang dibayar selama
periode berjalan 31c (689,519) (1,277,823) (1,227,781) Income tax paid during the period
Kas bersih yang diperoleh dari/(digunakan untuk) Net cash provided by/(used in)
aktivitas investasi 28,624,928 2,070,946 (749,516) investing activities
Arus kas dari aktivitas investasi Cash flow from investing activities
Hasil penjualan aset tetap 17 1,914 2,181 2,782 Proceeds from sale of fixed assets
Pembelian efek-efek dan Obligasi Purchasing of fair value through other comprehensive income
Pemerintah - diukur pada nilai wajar melalui penghasilan and amortised cost marketable
komprehensif lain dan biaya perolehan diamortisasi (40,959,369) - - securities and Government Bonds
Pembelian efek-efek dan Obligasi Purchasing of available-for-sale
Pemerintah - tersedia untuk dijual dan and held-to-maturity marketable
yang dimiliki hingga jatuh tempo - (817,585) (11,129,338) securities and Government Bonds
Penjualan efek-efek dan Obligasi Selling of fair value through other comprehensive income
Pemerintah - diukur pada nilai wajar melalui penghasilan and amortised cost marketable
komprehensif lain dan biaya perolehan diamortisasi 15,145,941 - - securities and Government Bonds
Penjualan efek-efek dan Obligasi Selling of available-for-sale
Pemerintah - tersedia untuk dijual dan and held-to-maturity marketable
yang dimiliki hingga jatuh tempo - 3,465,134 10,474,780 securities and Government Bonds
Pembelian aset tetap 17 (679,690) (658,956) (694,136) Acquisition of fixed assets
Pembelian aset takberwujud 18 (272,007) (295,943) (262,934) Acquisition of intangible assets
Kas bersih yang (digunakan untuk)/diperoleh dari Net cash (used in)/ provided by
aktivitas investasi (26,763,211) 1,694,831 (1,608,846) investing activities
Halaman – 4/1 – Page CIMB NIAGA ANNUAL REPORT 2020



Notes 2020 2019 2018
Arus kas dari aktivitas pendanaan Cash flow from financing activities
Saham treasuri 2aj,34 (553) (3,954) (7,419) Treasury shares
Efek-efek yang diterbitkan 1,000,000 3,823,000 2,021,000 Marketable securities issued
Pembayaran pokok dan bunga dari obligasi dan Payment of principal and interest from
efek-efek yang diterbitkan (2,747,970) (2,257,672) (2,770,921) bonds and marketable securities issued
Penambahan atas
pinjaman yang diterima 533,463 2,570,056 1,787,434 Addition of borrowings
Pembayaran atas bunga dan pinjaman yang diterima (2,376,421) (2,118,959) (5,730,721) Payment of interest and borrowings
Pembayaran atas pinjaman subordinasi (1,600,000) - - Payment of subordinated loans
Pembayaran dividen (1,392,161) (696,485) (595,420) Dividend paid
Perolehan pinjaman subordinasi - 83,000 150,000 Obtaining subordinated loans
Kas bersih yang (digunakan) untuk/diperoleh dari Net cash provided (used in)/provided by
aktivitas pendanaan (6,583,642) 1,398,986 (5,146,047) financing activities
Pengaruh perubahan kurs mata uang Effects on exchange rate differences
pada kas dan setara kas 302,450 (435,089) 566,687 in cash and cash equivalent
(Penurunan)/kenaikan bersih kas Net (decrease)/increase in cash
dan setara kas (4,419,475) 4,729,674 (6,937,722) and cash equivalent
Kas dan setara kas pada awal periode 32,458,388 27,728,714 34,666,436 Cash and cash equivalent at beginning of the period
Kas dan setara kas pada akhir periode 28,038,913 32,458,388 27,728,714 Cash and cash equivalent at end of the period
Kas dan setara kas terdiri dari: 2e,2f,2h,2i,4,5,6,7,8 Cash and cash equivalent consist of:
Kas 4,777,284 5,693,065 4,293,370 Cash
Giro pada Bank Indonesia 6,221,892 11,395,695 10,435,254 Current accounts with Bank Indonesia
Giro pada bank lain 3,697,487 2,162,195 3,093,901 Current accounts with other banks
Penempatan pada bank lain - jangka Placements with other banks
waktu jatuh tempo enam bulan atau - mature within six months or less
kurang sejak tanggal perolehan 13,342,250 12,133,873 9,240,574 since acquisition date
Sertifikat Bank Indonesia dan Sertifikat Deposito Bank Indonesia Certificates and
Bank Indonesia - jangka waktu Bank Indonesia Certificates Deposits - mature
jatuh tempo tiga bulan atau kurang within three months or less since
sejak tanggal perolehan - 1,073,560 665,615
Jumlah kas dan setara kas 28,038,913 32,458,388 27,728,714 Total cash and cash equivalents
Informasi tambahan arus kas: Supplemental cash flows information:

Aktivitas yang tidak mempengaruhi arus kas - - - Activities not affecting cash flows


Perubahan non kas/Non-cash changes

Arus kas/ Amortisasi diskonto dan premi/ Pergerakan valuta asing/
2019 Cash flow Amortisation of discount and premium Foreign currency movement 2020
12 Bulan/ 12 Bulan/ 12 Bulan/ 12 Bulan/ 12 Bulan/
Months Months Months Months Months
Rekonsiliasi liabilitas yang timbul Reconciliation of liabilities arising from

dari aktivitas pendanaan financing activities
Kas dan setara kas 32,458,388 (4,721,925) - 302,450 28,038,913 Cash and cash equivalents
Investasi likuid 598,299 83,815 - - 682,114 Liquid investments
Efek-efek yang diterbitkan (7,503,112) 944,000 (6,492) - (6,565,604) Marketable securities issued
Pinjaman yang diterima (2,647,013) 1,713,580 - - (933,433) Borrowings
Pinjaman subordinasi (1,821,175) 1,600,000 (3,009) - (224,184) Subordinated loans
Hutang bersih 21,085,387 (380,530) (9,501) 302,450 20,997,806 Net debt


Kas dan setara kas 27,728,714 5,164,763 - (435,089) 32,458,388 Cash and cash equivalents
Investasi likuid 257,218 341,081 - - 598,299 Liquid investments
Efek-efek yang diterbitkan (5,269,757) (2,230,000) (3,355) - (7,503,112) Marketable securities issued
Pinjaman yang diterima (2,195,916) 15,154 - (466,251) (2,647,013) Borrowings
Pinjaman subordinasi (1,742,417) (83,000) 4,242 - (1,821,175) Subordinated loans
Hutang bersih 18,777,842 3,207,998 887 (901,340) 21,085,387 Net debt


Kas dan setara kas 34,666,436 (7,504,409) - 566,687 27,728,714 Cash and cash equivalents
Investasi likuid 647,053 (389,835) - - 257,218 Liquid investments
Efek-efek yang diterbitkan (5,403,613) 131,000 2,856 - (5,269,757) Marketable securities issued
Pinjaman yang diterima (5,809,723) 2,180,977 - 1,432,830 (2,195,916) Borrowings
Pinjaman subordinasi (1,596,772) (150,000.00) 4,355 - (1,742,417) Subordinated loans
Hutang bersih 22,503,381 (5,732,267) 7,211 1,999,517 18,777,842 Net debt

CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
SERTA TAHUN-TAHUN YANG BERAKHIR AND FOR THE YEARS ENDED
1. INFORMASI UMUM 1. GENERAL INFORMATION
a. Pendirian dan informasi umum a. Establishment and general information
PT Bank CIMB Niaga Tbk (“Bank CIMB Niaga” atau PT Bank CIMB Niaga Tbk (“Bank CIMB Niaga" or the
“Bank”) didirikan menurut hukum yang berlaku di “Bank”) was established in accordance with laws
Indonesia, berdasarkan Akta Pendirian Perusahaan applicable in Indonesia by Notarial Deed No. 90 made
No. 90 yang dibuat di hadapan Raden Meester by Raden Meester Soewandi, Notary in Jakarta dated
Soewandi, Notaris di Jakarta tanggal 26 September 26 September 1955, which was amended by deed
1955 dan diubah dengan akta dari notaris yang sama No. 9 of the same notary dated 4 November 1955.
No. 9 tanggal 4 November 1955. Akta-akta pendirian These deeds were approved by the Minister of Justice
ini disahkan oleh Menteri Kehakiman Republik of the Republic of Indonesia (currently Minister of Law
Indonesia (sekarang Menteri Hukum dan Hak Asasi and Human Rights) through decision letter
Manusia) dengan surat keputusan No. J.A.5/110/15 No. J.A.5/110/15 dated 1 December 1955 and was
tanggal 1 Desember 1955 dan diumumkan dalam published in Supplement No. 729/1956 to the State
Berita Negara Republik Indonesia No. 71 tanggal Gazette of the Republic of Indonesia No. 71 dated
4 September 1956, Tambahan Berita Negara 4 September 1956.
No. 729/1956.
Setelah pendiriannya, Anggaran Dasar Bank CIMB After its establishment, Bank CIMB Niaga’s Articles of
Niaga telah mengalami beberapa kali perubahan, Association have been amended several times, where
diantaranya perubahan yang penting adalah: such significant amendments are as follows:
• Berdasarkan Akta No. 1 tanggal 2 Mei 2008, • Pursuant to Notarial Deed No. 1 dated 2 May
yang dibuat di hadapan Notaris Dr. Amrul 2008, made by Notary Dr. Amrul Partomuan
Partomuan Pohan, S.H., LLM, Notaris di Jakarta, Pohan, S.H., LLM, Notary in Jakarta, regarding
mengenai penyesuaian Anggaran Dasar PT Bank the amendment of PT Bank Niaga Tbk’s Articles
Niaga Tbk sesuai Undang-Undang No. 40 Tahun of Association in respect of Law No. 40 Year
2007 tentang Perseroan Terbatas, dimana 2007 on Limited Liability Company, which
perubahan tersebut disetujui oleh Menteri Hukum amendment was approved by the Minister of Law
dan Hak Asasi Manusia Republik Indonesia No. and Human Rights of the Republic of Indonesia
AHU-24544.AH.01.02 tahun 2008 tanggal 12 Mei in its letter No. AHU-24544.AH.01.02 year 2008
2008; dated 12 May 2008;
yang dibuat di hadapan Notaris Dr. Amrul 2008, made by Notary Dr. Amrul Partomuan
Partomuan Pohan, S.H., LLM, mengenai Pohan, S.H., LLM, regarding the change of name
perubahan nama dari sebelumnya PT Bank from PT Bank Niaga Tbk into PT Bank CIMB
Niaga Tbk menjadi PT Bank CIMB Niaga Tbk, Niaga Tbk, which amendment was approved by
dimana perubahan nama tersebut disetujui oleh the Minister of Law and Human Rights of the
Menteri Hukum dan Hak Asasi Manusia Republik Republic of Indonesia by its letter No. AHU-
Indonesia melalui suratnya No. AHU- 32968.AH.01.02 Year 2008 dated 13 June 2008
32968.AH.01.02 Tahun 2008 tanggal 13 Juni and decision letter of the Governor of Bank
2008 dan surat keputusan Gubernur Bank Indonesia (“BI”) No.10/56/KEP.GBI/2008 dated
Indonesia (”BI”) No.10/56/KEP.GBI/2008 tanggal 22 July 2008; and
22 Juli 2008; dan

1. INFORMASI UMUM (lanjutan) 1. GENERAL INFORMATION (continued)

a. Pendirian dan informasi umum (lanjutan) a. Establishment and general information (continued)
• Berdasarkan Akta No. 22 tanggal 21 April 2014, • Pursuant to Notarial Deed No. 22 dated 21 April
yang dibuat di hadapan Notaris Himawan 2014, made by Notary Himawan Sutanto, S.H.,
Sutanto, S.H., mengenai perubahan Pasal 3 ayat regarding the changes of Article 3 paragraph 2,
2, Pasal 14 ayat 2, Pasal 14 ayat 4, Pasal 17 Article 14 paragraph 2, Article 14 paragraph 4,
ayat 3, dan Pasal 17 ayat 5, dimana perubahan Article 17 paragraph 3, and Article 17 paragraph
tersebut disetujui oleh Menteri Hukum dan Hak 5, which amendment was approved by the
Asasi Manusia Republik Indonesia No. AHU- Minister of Law and Human Rights of the
02085.40.20.2014 tahun 2014 tanggal Republic of Indonesia in its letter No. AHU-
29 April 2014. 02085.40.20.2014 year 2014 dated
29 April 2014.
yang dibuat di hadapan Notaris Ashoya Ratam, 2015, made by Notary Ashoya Ratam, S.H.,
S.H., M.Kn., mengenai perubahan Pasal 4 ayat 3, M.Kn., regarding the changes of Article 4
Pasal 4 ayat 5, Pasal 4 ayat 8, Pasal 10, Pasal paragraph 3, Article 4 paragraph 5, Article 4
11, Pasal 12, Pasal 13, Pasal 14, Pasal 15, Pasal paragraph 8, Article 10, Article 11, Article 12,
16, Pasal 17, Pasal 18, dan Pasal 19, dimana Article 13, Article 14, Article 15, Article 16, Article
perubahan tersebut disetujui oleh Menteri Hukum 17, Article 18, and Article 19, which amendment
dan Hak Asasi Manusia Republik Indonesia No. was approved by the Minister of Law and Human
AHU-AH.01.03-0932580 tahun 2015 tanggal Rights of the Republic of Indonesia in its letter
18 Mei 2015. No. AHU-AH.01.03-0932580 year 2015 dated
18 May 2015.
• Berdasarkan Akta No. 57 tanggal 26 April 2016, • Pursuant to Notarial Deed No. 57 dated 26 April
yang dibuat di hadapan Notaris Ashoya Ratam, 2016, made by Notary Ashoya Ratam, S.H.,
S.H., M.Kn., mengenai perubahan Pasal 15, M.Kn., regarding the changes of Article 15, which
dimana perubahan tersebut disetujui oleh Menteri amendment was approved by the Minister of Law
Hukum dan Hak Asasi Manusia Republik and Human Rights of the Republic of Indonesia
Indonesia No. AHU-AH.01.03-0044098 tahun in its letter No. AHU-AH.01.03-0044098 year
2016 tanggal 27 April 2016. 2016 dated 27 April 2016.
• Berdasarkan Akta No. 40 tanggal 18 September • Pursuant to Notarial Deed No. 40 dated 18
2017, yang dibuat di hadapan Notaris Ashoya September 2017, made by Notary Ashoya
Ratam, S.H., M.Kn., mengenai perubahan Pasal Ratam, S.H., M.Kn., regarding the changes of
7, Pasal 11, Pasal 11 ayat 3, Pasal 12, Pasal 13, Article 7, Article 11, Article 11 paragraph 3,
Pasal 14, Pasal 16, Pasal 17, Pasal 18, dan Article 12, Article 13, Article 14, Article 16, Article
Pasal 20, dimana perubahan tersebut disetujui 17, Article 18, and Article 20, which amendment
oleh Menteri Hukum dan Hak Asasi Manusia was approved by the Minister of Law and Human
Republik Indonesia No. AHU-AH.01.03-0177066 Rights of the Republic of Indonesia in its letter
tahun 2017 tanggal 3 Oktober 2017. No. AHU-AH.01.03-0177066 year 2017 dated
3 October 2017.
Berdasarkan pasal 3 Anggaran Dasar Bank CIMB Niaga, According to Article 3 of its Articles of Association, Bank
ruang lingkup kegiatan Bank CIMB Niaga adalah CIMB Niaga’s scope of activities is to conduct general
melakukan usaha di bidang perbankan sesuai dengan banking services in accordance with the prevailing laws
undang-undang dan peraturan yang berlaku, dan and regulations, and to engage in other banking activities
melakukan kegiatan perbankan lainnya berdasarkan prinsip based on Sharia principles. Bank CIMB Niaga had started
Syariah. Bank CIMB Niaga mulai melakukan kegiatan its banking activities based on the Sharia principles on
perbankan berdasarkan prinsip Syariah pada tanggal 27 September 2004.
27 September 2004.

Bank CIMB Niaga memperoleh izin usaha sebagai Bank CIMB Niaga had obtained the license to operate
bank umum, bank devisa, dan bank yang melakukan as a commercial bank, a foreign exchange bank, and
kegiatan berdasarkan prinsip Syariah masing-masing a bank engaged in activities based on Sharia
berdasarkan surat keputusan Menteri Keuangan principles based on the decision letter of the Minister
Republik Indonesia No. 249544/U.M.II tanggal of Finance of the Republic of Indonesia
11 November 1955, surat keputusan Direksi BI No. 249544/U.M.II dated 11 November 1955, the
No. 7/116/Kep/Dir/UD tanggal 22 November 1974, dan decision letter of the Directors of BI No.
surat keputusan Gubernur BI No. 6/71/KEP.GBI/2004 7/116/Kep/Dir/UD dated 22 November 1974, and the
tanggal 16 September 2004. decision letter of the Governor of BI
No.6/71/KEP.GBI/2004 dated 16 September 2004.
Sejak berdirinya, Bank CIMB Niaga telah mengalami Since establishment, Bank CIMB Niaga had 4 (four)
4 (empat) kali penggabungan usaha, yaitu: mergers, on:
• Tanggal 22 Oktober 1973 dengan PT Bank Agung; • 22 October 1973 with PT Bank Agung;
• Tanggal 30 November 1978 dengan PT Bank • 30 November 1978 with PT Bank Tabungan
Tabungan Bandung; Bandung;
• Tanggal 17 Oktober 1983 dengan PT Bank • 17 October 1983 with PT Bank Amerta; and
Amerta; dan
• Tanggal 1 November 2008 dengan PT Bank Lippo • 1 November 2008 with PT Bank Lippo Tbk (refer
Tbk (lihat Catatan 1b). to Note 1b).
Kantor Pusat Bank CIMB Niaga berlokasi di Jl. Jend. Bank CIMB Niaga’s head office is located at Jl. Jend.
Sudirman Kav. 58, Jakarta. Pada tanggal Sudirman Kav. 58, Jakarta. As at 31 December 2020
31 Desember 2020 kantor cabang domestik, kantor Bank CIMB Niaga’s domestic branches, domestic
cabang pembantu domestik, kantor pembayaran supporting branches, domestic payment points,
domestik, unit cabang Syariah domestik, dan kantor domestic Sharia unit branches, and Sharia service
layanan Syariah Bank CIMB Niaga tersebar di 28 (dua offices are located in 28 (twenty eight) provinces
puluh delapan) propinsi di seluruh Indonesia throughout Indonesia (2019 and 2018: 28 provinces).
(2019 dan 2018: 28 propinsi). Pada tanggal As at 31 December 2020, 2019, and 2018 the
31 Desember 2020, 2019, dan 2018 jumlah jaringan number of Bank CIMB Niaga’s branches and
cabang-cabang dan kantor-kantor pembantu Bank representative offices are as follows (unaudited):
CIMB Niaga adalah sebagai berikut (tidak diaudit):
2020 2019 2018
Kantor cabang domestik 65 65 134 Domestic branches

Kantor cabang pembantu domestik 319 319 307 Domestic support branches
Kantor pembayaran domestik 6 6 8 Domestic payments points
Kantor cabang Syariah domestik 24 24 24 Domestic Sharia unit branches
Kantor kas Syariah 3 3 3 Sharia cash branches
Kantor pembayaran Syariah domestik 1 1 - Sharia Domestic payments points
Kantor layanan Syariah 384 390 441 Sharia service offices
Automated Teller Machine (ATM) Automated Teller Machine (ATM)
termasuk ATM Syariah 4,316 4,500 4,500 including Sharia ATM

CIMB Group Holdings Berhad adalah pemegang 100% CIMB Group Holding Berhad is 100% shareholder of
saham CIMB Group Sdn Bhd, yang merupakan CIMB Group Sdn Bhd, which is the shareholder of
pemegang 91,48% saham Bank CIMB Niaga. 91.48% shares of Bank CIMB Niaga. The ultimate
Pemegang saham akhir CIMB Group Holdings Berhad shareholders of CIMB Group Holdings Berhad are
adalah Khazanah Nasional Berhad, Employee Khazanah National Berhad, Employee Provident
Provident Fund, lain-lain dan masyarakat. Khazanah Fund, others and public. Khazanah National Berhad is
Nasional Berhad merupakan entitas yang dimiliki oleh an entity owned by the Malaysian Government.
Pemerintah Malaysia.
b. Penggabungan usaha dengan PT Bank Lippo Tbk b. Merger with PT Bank Lippo Tbk
Pada tanggal 28 Oktober 2008 (sebelum tanggal efektif On 28 October 2008 (before the effective date of
penggabungan), CIMB Group Sdn. Bhd. dan merger), CIMB Group Sdn. Bhd. and Santubong
Santubong Ventures Sdn. Bhd. melakukan pembelian Ventures Sdn. Bhd. acquired shares owned by
atas saham Santubong Investment BV. pada PT Bank Santubong Investment BV. of PT Bank Lippo Tbk
Lippo Tbk (“Bank Lippo”), masing-masing sebanyak (“Bank Lippo”) being 51.00% and 36.03%,
51,00% dan 36,03%. Hal ini sesuai dengan Rancangan respectively. This is in accordance with the Merger
Penggabungan Usaha Bank CIMB Niaga dan Bank Plan of Bank CIMB Niaga and Bank Lippo.
Lippo.
Sehubungan dengan diperolehnya persetujuan dari In connection with the obtainment of approval from
Bank Indonesia atas rencana penggabungan Bank Bank Indonesia on the merger plan of Bank Lippo and
Lippo dengan Bank CIMB Niaga melalui Surat Bank CIMB Niaga through Decision Letter of the
Keputusan Gubernur BI No. 10/66/KEP.GBI/2008 Governor of BI No.10/66/KEP.GBI/2008 dated
tanggal 15 Oktober 2008 tentang “Pemberian Izin 15 October 2008 regarding “Approval of Merger of
Penggabungan Usaha PT Bank Lippo Tbk ke dalam PT Bank Lippo Tbk into PT Bank CIMB Niaga Tbk”,
PT Bank CIMB Niaga Tbk”, serta dengan diterimanya and Letter of Minister of Law and Human Rights of
Surat Menteri Hukum dan Hak Asasi Manusia Republik Republic of Indonesia No. AHU-AH.01.10-22669
Indonesia No. AHU-AH.01.10-22669 tanggal dated 22 October 2008 regarding “Acceptance of
22 Oktober 2008 perihal “Penerimaan Pemberitahuan Notification on Merger of PT Bank CIMB Niaga Tbk”,
Penggabungan Perseroan PT Bank CIMB Niaga Tbk”, the merger became effective on 1 November 2008.
penggabungan usaha menjadi efektif pada tanggal 1 Statement of this merger has received effective notice
November 2008. Pernyataan penggabungan usaha ini from Bapepam-LK through its letter No.
memperoleh surat pemberitahuan efektif dari S-4217/BL/2008 dated 30 June 2008.
Bapepam-LK melalui surat No. S-4217/BL/2008 tanggal
30 Juni 2008.
Tanggal efektif penggabungan usaha dengan Bank The effective date of the merger with Bank Lippo was
Lippo ditetapkan pada tanggal 1 November 2008 1 November 2008 based on Notarial Deed No. 9 dated
berdasarkan Akta No. 9 tanggal 16 Oktober 2008 yang 16 October 2008 made by Notary Dr. Amrul
dibuat di hadapan Notaris Dr. Amrul Partomuan Pohan, Partomuan Pohan, S.H., LLM, Notary in Jakarta. This
S.H., LLM, Notaris di Jakarta. Akta ini merupakan deed represented the amendment from Notarial Deed
perubahan dari akta sebelumnya yaitu Akta No. 37 No. 37 dated 18 July 2008 made by Notary Dr. Amrul
tanggal 18 Juli 2008 yang dibuat di hadapan Notaris Dr. Partomuan Pohan, S.H., LLM, Notary in Jakarta.
Amrul Partomuan Pohan, S.H., LLM, Notaris di Jakarta.

b. Penggabungan usaha dengan PT Bank Lippo Tbk b. Merger with PT Bank Lippo Tbk (continued)
(lanjutan)
Susunan pemegang saham sebelum dan pada tanggal The shareholders composition before and at the
penggabungan usaha adalah: merger date was effective is as follows:
Pemegang saham Bank Pemegang saham Bank

CIMB Niaga sebelum CIMB Niaga pada
penggabungan usaha/ Pemegang saham Bank Lippo tanggal penggabungan
Bank CIMB Niaga’s sebelum penggabungan usaha/ usaha/Bank CIMB
shareholders before the Bank Lippo’s shareholders Niaga’s shareholders at
merger before merger the merger date
Jumlah
Jumlah saham saham
sebelum setelah
Jumlah konversi/ konversi/ Jumlah
saham/ Number of Number of saham/
Number of shares before shares after Number of
shares % conversion % conversion shares %
Saham biasa kelas A Class A ordinary share

- Masyarakat (kepemilikan Public (ownership interest -
71,853,936 0.56 85,698,000 2.19 - 71,853,936 0.30
dibawah 5%) below 5%)
Saham biasa kelas B Class B ordinary share

- CIMB Group Sdn Bhd 7,779,138,350 60.47 1,997,023,850 51.00 5,636,087,273 13,415,225,623 56.10 CIMB Group Sdn Bhd -
- Santubong Ventures Santubong Ventures -
- - 1,410,943,106 36.03 3,982,024,793 3,982,024,793 16.65
Sdn Bhd Sdn Bhd
- Greatville Pte Ltd - - 218,263,688 5.57 615,993,242 615,993,242 2.58 Greatville Pte Ltd -
- Lainnya (kepemilikan Others (ownership interest -
5,012,710,185 38.97 137,426,109 3.51 629,710,532 5,642,420,717 23.59
dibawah 5%) below 5%)
Saham biasa kelas C Class C ordinary share

- Menteri Keuangan Republik Minister of Finance of the -
- - 66,378,286 1.70 187,335,676 187,335,676 0.78
Indonesia Republic of Indonesia
12,863,702,471 100.00 3,915,733,039 100.00 11,051,151,516 23,914,853,987 100.00

c. Penawaran umum saham dan obligasi Bank CIMB c. Public offering of Bank CIMB Niaga’s shares and
Niaga bonds
Penawaran umum saham Public offering of shares
Penawaran Umum Perdana dan Terbatas yang telah The details of Bank CIMB Niaga’s Initial and Limited
dilakukan oleh Bank CIMB Niaga adalah: Public Offerings are as follows:
Harga penawaran
Jumlah saham Nilai nominal per saham (nilai
yang ditawarkan (nilai penuh)/ per saham (nilai penuh)/ penuh)/
Pernyataan efektif/ Tanggal pencatatan/ Number of offered shares (full Par value per share (full Offering price per
Effective registration Registration date amount) amount) share (full amount)
Penawaran Umum 2 Oktober/ 29 November/
Perdana October 1989 November 1989 5,000,000 1,000 12,500 Initial Public Offering
Penawaran Umum 26 September/ 23 Desember/ Limited Public
Terbatas I September 1992 December 1992 5,252,500 1,000 5,000 Offering I
Penawaran Umum 29 Oktober/ 15 November/ Limited Public
Terbatas II October 1996 November 1996 31,514,487 1,000 3,300 Offering II
Penawaran Umum 4 Agustus/ 9 Agustus/ Limited Public
Terbatas III August 1999 August 1999 71,135,395,749 5 124 Offering III
Penawaran Umum 25 Agustus/ 31 Agustus/August Limited Public
Terbatas IV August 2005 dan/and 9 September 3,949,757,610 50 330 Offering IV
/September 2005
Penawaran Umum 3 November/ 30 Desember/ Limited Public

Terbatas V November 2010 December 2010 1,196,743,183 50 1,250 Offering V
Penawaran umum obligasi subordinasi Public offering of subordinated bonds
Bank CIMB Niaga Bank CIMB Niaga

Jumlah pokok
obligasi
subordinasi/
Pernyataan The nominal Tingkat
efektif/ value of the Tanggal jatuh bunga/ Wali Amanat - Keterkaitan
Instrumen/ Effective Persetujuan/ subordinated Jangka waktu/ tempo/ Interest usaha/ Trustee - Business
Instrument registration Approval bonds Tenor Maturity date rate Tujuan/Purpose linkages
Obligasi Subordinasi II Bank 15 Desember/ Badan Pengawas Pasar 1,600,000 10 tahun/years 23 Desember// 10.85% Ekspansi kredit dalam rangka PT Bank Permata Tbk - Tidak
CIMB Niaga Tahun 2010 December 2010 Modal dan Lembaga December pengembangan usaha/Expand mempunyai hubungan afiliasi
dengan Tingkat Suku Keuangan, melalui 2020 the credit in order to develop dengan Bank/ PT Bank
Bunga Tetap/Bank CIMB suratnya No. the business. Permata Tbk – Does not
Niaga Subordinated Bonds S/11156/BL/2010/Capital have any affiliation with the
II Year 2010 with Fixed Market and Financial Bank.
Interest Rate Institution Supervisory
Board in his letter No.
S/11156/BL/2010
Obligasi Subordinasi III 8 November/ OJK Pengawas Pasar 75,000 5 tahun/years 15 November/ 9.85% Menunjang pertumbuhan PT Bank Permata Tbk - Tidak
Bank CIMB Niaga Tahun November 2018 modal, melalui suratnya November kredit serta menjaga mempunyai hubungan afiliasi
2018 Seri A dengan Tingkat No.S-158/D.04/2018/ OJK 2023 ketahanan permodalan dalam dengan Bank/ PT Bank
Suku Bunga Tetap/Bank Pengawas Pasar Modal rangka pemenuhan POJK Permata Tbk – Does not
CIMB Niaga Subordinated in his letter No. No.14/2017/Supporting credit have any affiliation with the
Bonds III Year 2018 Series S-158/D.04/2018 growth and capital stability in Bank.
A with Fixed Interest Rate accordance with fulfilment of
POJK No 14/2017.
Obligasi Subordinasi III 8 November/ OJK Pengawas Pasar 75,000 7 tahun/years 15 November/ 10.00% Menunjang pertumbuhan PT Bank Permata Tbk - Tidak
Bank CIMB Niaga Tahun November 2018 modal, melalui suratnya November kredit serta menjaga mempunyai hubungan afiliasi
2018 Seri B dengan Tingkat No.S-158/D.04/2018/ OJK 2025 ketahanan permodalan dalam dengan Bank/ PT Bank
Suku Bunga Tetap/Bank Pengawas Pasar Modal rangka pemenuhan POJK Permata Tbk – Does not
CIMB Niaga Subordinated in his letter No. No.14/2017/Supporting credit have any affiliation with the
Bonds III Year 2018 Series S-158/D.04/2018 growth and capital stability in Bank.
B with Fixed Interest Rate accordance with fulfilment of
POJK No 14/2017.
Obligasi Subordinasi 12 Desember/ OJK Pengawas Pasar 83,000 5 tahun/years 19 Desember/ 8.05% Menunjang pertumbuhan PT Bank Permata Tbk - Tidak
Berkelanjutan I Bank CIMB December 2019 modal, melalui suratnya December kredit serta menjaga mempunyai hubungan afiliasi
Niaga Tahap I Tahun 2019/ No.S- 194/D.04/2019 2024 ketahanan permodalan dalam dengan Bank/ PT Bank
The Continuous Pengawas Pasar Modal rangka pemenuhan POJK Permata Tbk – Does not
Subordinated Bonds I of in his letter No. No.14/2017/Supporting credit have any affiliation with the
Bank CIMB Niaga Phase I S- 194/D.04/2019 growth and capital stability in Bank.
Year 2019 accordance with fulfilment of
POJK No 14/2017


Niaga (lanjutan) bonds (continued)
Penawaran umum obligasi subordinasi (lanjutan) Public offering of subordinated bonds (continued)
Sehubungan dengan penerbitan obligasi subordinasi In connection with the subordinated bonds offering, Bank
tersebut, Bank CIMB Niaga memperoleh peringkat “AA- CIMB Niaga obtained a rating of “AA-(idn)” from
(idn)” dari PT Pefindo. PT Pefindo.
Penawaran umum obligasi Public offering of bonds

Jumlah pokok
obligasi
subordinasi/
Pernyataan The nominal
efektif/ value of the Tanggal jatuh Wali Amanat - Keterkaitan
Instrumen/ Effective Persetujuan/ subordinated Jangka waktu/ tempo/ Tingkat bunga/ usaha/ Trustee - Business
Instrument registration Approval bonds Tenor Maturity date Interest rate Tujuan/Purpose linkages
Obligasi Berkelanjutan II 26 Oktober/ Otoritas Jasa Seri/Series B : Seri/Series B : Seri/Series B : Seri/Series B : Ekspansi kredit dalam PT Bank Permata Tbk - Tidak
Bank CIMB Niaga Tahap I October 2016 Keuangan 386,000 3 tahun/years 3 November/ 8.00% rangka pengembangan mempunyai hubungan afiliasi
Tahun 2016 dengan Tingkat (OJK)/Financial November 2019 usaha/Expand the dengan Bank/ PT Bank
suku Bunga Tetap/The Service Authority credit in order to Permata Tbk – Does not have
Continuous Bonds II of (FSA) Seri/Series C : Seri/Series C : Seri/Series C : Seri/Series C : develop the business any affiliation with the Bank.
Bank CIMB Niaga Phase I 182,000 5 tahun/years 3 November/ 8.25%
Year 2016 with Fixed November 2021
Interest Rate
Obligasi Berkelanjutan II 15 Agustus/ Otoritas Jasa Seri/Series B : Seri/Series B : Seri/Series B : Seri/Series B : Ekspansi kredit dalam PT Bank Permata Tbk - Tidak
Bank CIMB Niaga Tahap II August 2017 Keuangan 376,000 3 tahun/years 23 Agustus/ 7.70% rangka pengembangan mempunyai hubungan afiliasi
Tahun 2017/The (OJK)/Financial August 2020 usaha/Expand the dengan Bank/ PT Bank
Continuous Bonds II of Service Authority credit in order to Permata Tbk – Does not have
Bank CIMB Niaga Phase II (FSA) Seri/Series C : Seri/Series C : Seri/Series C : Seri/Series C : develop the business. any affiliation with the Bank.
Year 2017 822,000 5 tahun/years 23 Agustus/ 8.15%
August 2022
Obligasi Berkelanjutan II 26 Oktober / Otoritas Jasa Seri/Series B: Seri/Series B: Seri/Series B: Seri/Series B : Ekspansi kredit dalam PT Bank Permata Tbk - Tidak
Bank CIMB Niaga Tahap III October 2017 Keuangan 657,000 3 Tahun/years 2 November/ 7.50% rangka pengembangan mempunyai hubungan afiliasi
Tahun 2017/ (OJK)/Financial November 2020 usaha/ Expand the dengan Bank/ PT Bank
The Continuous Bonds II of Service Authority credit in order to Permata Tbk – Does not have
Bank CIMB Niaga Phase III (FSA) Seri/Series C: Seri/Series C: Seri/Series C: Seri/Series C : develop the business any affiliation with the Bank
Year 2017 843,000 5 Tahun/years 2 November/ 7.75%
November 2022
Obligasi Berkelanjutan II 1 Agustus/ Otoritas Jasa 1,021,000 Seri/Series A : Seri/Series A : Seri/Series A : Ekspansi kredit dalam PT Bank Permata Tbk - Tidak
Bank CIMB Niaga Tahap IV August 2018 Keuangan Seri/Series A : 1 tahun/year 30 September/ 7.50% rangka pengembangan mempunyai hubungan afiliasi
Tahun 2018/The (OJK)/Financial 766,000 September 2019 usaha/ Expand the dengan Bank/ PT Bank
Continuous Bonds II of Service Authority credit in order to Permata Tbk – Does not have
Bank CIMB Niaga Phase IV (FSA) Seri/Series B : Seri/Series B : Seri/Series B : Seri/Series B : develop the business. any affiliation with the Bank.
Year 2018 137,000 3 tahun/years 20 September/ 8.50%
September 2021
Seri/Series C : Seri/Series C : Seri/Series C : Seri/Series C :

118,000 5 tahun/years 20 September/ 8.80%
September 2023
Sukuk Mudharabah 8 November/ OJK Pengawas 1,000,000 Seri/Series A : Seri/Series A : Seri/Series A : Untuk menunjang PT Bank Permata Tbk - Tidak
Berkelanjutan I Bank CIMB November 2018 Pasar Modal Seri/Series A : 1 tahun/year 25 November/ 8.35% kegiatan pembiayaan mempunyai hubungan afiliasi
Niaga Tahap I Tahun melalui suratnya 441,000 November 2019 syariah/ To support dengan Bank/ PT Bank
2018/The Continuous No. S- sharia financing Permata Tbk – Does not have
Sukuk Mudharabah I of 158/D.04/2018/ Seri/Series B : Seri/Series B : Seri/Series B : Seri/Series B : activities any affiliation with the Bank.
Bank CIMB Niaga Phase I OJK Pengawas 559,000 3 tahun/years 15 November/ 9.25%
Year 2018 Pasar Modal in his November 2021
letter No. S-
158/D.04/2018
Sukuk Mudharabah 21 Agustus/ OJK Pengawas 2,000,000 Seri/Series A : Seri/Series A : Seri/Series A : Untuk menunjang PT Bank Permata Tbk - Tidak
Berkelanjutan I Bank CIMB August 2019 Pasar Modal Seri/Series A : 1 tahun/year 31 Agustus/ 7.10% kegiatan pembiayaan mempunyai hubungan afiliasi
Niaga Tahap II Tahun melalui suratnya 635,000 August 2020 syariah/ To support dengan Bank/ PT Bank
2019/The Continuous No. S- sharia financing Permata Tbk – Does not have
Sukuk Mudharabah I of 194/D.04/2019/ Seri/Series B : Seri/Series B : Seri/Series B : Seri/Series B : activities any affiliation with the Bank.
Bank CIMB Niaga Phase II OJK Pengawas 936,000 3 tahun/years 21 Agustus/ 7.90%
Year 2019 Pasar Modal in his August 2022
letter No. S-
194/D.04/2019 Seri/Series C : Seri/Series C : Seri/Series C : Seri/Series C:
429,000 5 tahun/years 21 Agustus/ 8.25%
August 2024


Niaga (lanjutan) bonds (continued)
Penawaran umum obligasi (lanjutan) Public offering of bonds (continued)
Jumlah pokok
obligasi
subordinasi/
Pernyataan The nominal
efektif/ value of the Tanggal jatuh Wali Amanat - Keterkaitan
Instrumen/ Effective Persetujuan/ subordinated Jangka waktu/ tempo/ Tingkat bunga/ usaha/ Trustee - Business
Instrument registration Approval bonds Tenor Maturity date Interest rate Tujuan/Purpose linkages
Obligasi Berkelanjutan III 19 Desember/ OJK Pengawas 1,823,000 Seri/Series A : Seri/Series A : Seri/Series A : Ekspansi kredit dalam PT Bank Permata Tbk - Tidak
Bank CIMB Niaga Tahap I December 2019 Pasar Modal melalui Seri/Series A : 1 tahun/year 29 Desember/ 6.50% rangka pengembangan mempunyai hubungan afiliasi
Tahun 2019/ The suratnya No. S- 276,000 December 2020 usaha/Expand the dengan Bank/ PT Bank
Continuous Bonds III of 194/D.04/2019/ OJK credit in order to Permata Tbk – Does not have
Bank CIMB Niaga Phase I Pengawas Pasar Seri/Series B : Seri/Series B : Seri/Series B : Seri/Series B : develop the business. any affiliation with the Bank.
Year 2019 Modal in his letter No. 1,066,000 3 tahun/years 19 Desember/ 7.55%
S-194/D.04/2019 December 2022
Seri/Series C : Seri/Series C : Seri/Series C : Seri/Series C:

481,000 5 tahun/years 19 Desember/ 7.80%
December 2024
Sukuk Mudharabah 19 Maret/ March OJK Pengawas 1.000.000 Seri/Series A : Seri/Series A : Seri/Series A : Ekspansi kredit dalam PT Bank Permata Tbk - Tidak
berkelanjutan I Bank CIMB 2020 Pasar Modal melalui Seri/Series A : 1 tahun/year 7 April/ April 5.80% rangka pengembangan mempunyai hubungan afiliasi
Niaga Tahap III Tahun suratnya No. S- 322.000 2021 usaha/Expand the dengan Bank/ PT Bank
2020/ The Continuous 194/D.04/2019/ OJK credit in order to Permata Tbk – Does not have
Sukuk Mudharabah I of Pengawas Pasar Seri/Series B : Seri/Series B : Seri/Series B : Seri/Series B : develop the business. any affiliation with the Bank.
Bank CIMB Niaga Phase III Modal in his letter No. 287.000 3 tahun/years 27 Maret/ March 7.00%
Year 2020 S-194/D.04/2019 2023
Seri/Series C : Seri/Series C : Seri/Series C : Seri/Series C:
391.000 5 tahun/years 27 Maret/ March 7.25%
2025
Obligasi di atas mensyaratkan Bank CIMB Niaga antara The above bonds requires Bank CIMB Niaga not to
lain untuk tidak melakukan pengeluaran obligasi atau issue bonds or medium term notes and long term
instrumen surat hutang jangka menengah dan jangka notes equivalent with the above bonds with higher
panjang lainnya yang sejenis dengan obligasi yang priority of payment than the bonds, as written in
mempunyai kedudukan lebih tinggi dan pembayarannya prospectus. Bank CIMB Niaga has fulfilled the debt
didahulukan dari obligasi, sebagaimana tertulis dalam covenants requirement outlined in bond agreements.
prospektus. Bank CIMB Niaga telah memenuhi
pembatasan-pembatasan yang diwajibkan dalam
perjanjian obligasi.
Sehubungan dengan penerbitan obligasi tersebut, In connection with the bond offering, Bank CIMB
Bank CIMB Niaga memperoleh peringkat “idAAA” dari Niaga obtained a rating of “idAAA” from PT Pefindo.
PT Pefindo.
d. Entitas Anak d. Subsidiaries
Bank CIMB Niaga mempunyai kepemilikan langsung pada Bank CIMB Niaga has direct ownership in the following
Entitas Anak berikut ini: Subsidiaries:
Tahun beroperasi
Persentase kepemilikan/ komersial/ Jumlah aset/
Percentage of ownership Year commercial Total assets
Nama perusahaan/ Kegiatan usaha/ Kedudukan/ operations
Company's name Business activity Domicile 2020 2019 2018 commenced 2020 2019 2018
Anak perusahaan/Subsidiaries
• PT CIMB Niaga Auto Finance Pembiayaan/Financing Jakarta 99.93% 99.93% 99.93% 1993 3,585,310 3,675,101 2,610,047
• PT CIMB Niaga Sekuritas Penjamin emisi efek/Securities underwriter Jakarta 94.78% 94.78% - 2019 276,040 274,795 -


d. Entitas Anak (lanjutan) d. Subsidiaries (continued)
Berikut adalah perubahan kepemilikan langsung Below is the changes of Bank CIMB Niaga’s direct
Bank CIMB Niaga pada Entitas anak: ownership in the subsidiaries:
Jumlah saham pada
tanggal laporan posisi
keuangan/
Total shares as at
Tahun/ statements of financial Persentase/
Year Peristiwa/Event position date Percentage
PT CIMB Niaga Auto Finance
1992 Kepemilikan awal Bank CIMB Niaga atas PT CIMB Niaga Auto Finance 90,000 99.94%
(CNAF)/The initial ownership of Bank CIMB Niaga in PT CIMB Niaga Auto
Finance (CNAF).
2012-2014 Peningkatan penyertaan modal pada CNAF/Increased investment on CNAF. 11,992,800 99.94%
2016 Penggabungan usaha (CNAF) dengan PT Kencana Internusa Artha Finance 13,990,779 99.93%
(KITAF)/Merger between (CNAF) and PT Kencana Internusa Artha Finance
(KITAF)
PT CIMB Niaga Sekuritas
2019 Kepemilikan awal Bank CIMB Niaga atas PT CIMB Niaga Sekuritas (CNS)/The 990 99.00%
ownership of Bank CIMB Niaga in PT CIMB Niaga Sekuritas (CNS)
2019 Peningkatan penyertaan modal pada CNS/Increased investment on CNS. 5,990 94.78%
Penggabungan usaha PT CIMB Niaga Auto Merger between PT CIMB Niaga Auto Finance (CNAF)
Finance (CNAF) dengan PT Kencana Internusa and PT Kencana Internusa Artha Finance (KITAF)
Artha Finance (KITAF)
Pada tanggal 1 Januari 2016, CNAF telah efektif As at 1 January 2016, CNAF have effectively merged
melakukan penggabungan usaha (merger) dengan with KITAF, where CNAF is the surviving entity. Merger
KITAF, dimana CNAF merupakan perusahaan yang was performed to improve the synergy of Bank CIMB
menerima penggabungan (surviving entity). Niaga group.
Penggabungan dilakukan untuk meningkatkan
sinergi grup Bank CIMB Niaga.
Penggabungan usaha tersebut telah mendapatkan The merger has received approval from Financial
persetujuan dari Otoritas Jasa Keuangan (OJK) Services Authority (FSA) through its letter
melalui surat No.S-101/D.05/2015 tanggal No.S-101/D.05/2015 dated 19 November 2015 and
19 November 2015 dan disetujui oleh pemegang approved by shareholders through Statements Deed of
saham melalui Akta Pernyataan Keputusan Rapat Decision of Extraordinary General Shareholders Meeting
Umum Pemegang Saham Luar Biasa dari notaris from notary Ashoya Ratam, S.H., M.Kn., No. 50 dated 23
Ashoya Ratam, S.H., M.Kn., No. 50 tanggal December 2015. The merger information has been
23 Desember 2015. Pemberitahuan penggabungan received and recorded by the Minister of Law and Human
usaha tersebut telah diterima dan dicatat oleh Rights of the Republic of Indonesia through its letter No.
Menteri Hukum dan Hak Asasi Manusia Republik AHU-AH.01.10-0107406 dated 23 December 2015. The
Indonesia melalui surat No.AHU-AH.01.10-0107406 merger is effective on 1 January 2016.
tanggal 23 Desember 2015. Penggabungan usaha
efektif mulai tanggal 1 Januari 2016.
Komposisi jumlah kepemilikan saham Perusahaan The shares ownership composition of the Company on
pada tanggal penggabungan usaha adalah merger date is 13,990,779 shares with ownership
13.990.779 saham dengan persentase kepemilikan percentage of 99.93%.
99,93%.


d. Entitas Anak (lanjutan) d. Subsidiaries (continued)
Kepemilikan Bank CIMB Niaga atas PT CIMB Niaga The Ownership of Bank CIMB Niaga in PT CIMB Niaga
Sekuritas (“CNS”) Sekuritas (“CNS”)
CNS didirikan menurut hukum yang berlaku di CNS was established in accordance with laws applicable
Indonesia, berdasarkan Akta Pendirian Perseroan in Indonesia, by Notarial Deed No. 26 made by Ashoya
Terbatas No. 26 yang dibuat di hadapan Ashoya Ratam, Notary in Jakarta dated 12 March 2018.
Ratam, Notaris di Jakarta tanggal
12 Maret 2018.
Akta Pendirian ini disahkan oleh Menteri Hukum dan These deeds were approved by Minister of Law and
Hak Asasi Manusia Republik Indonesia dengan surat Human Rights of the Republic of Indonesia through
keputusan No.AHU-0021378.AH.01.01 Tahun 2018 decision letter No AHU-0021378.AH.01.01 Year 2018
tanggal 20 April 2018. dated 20 April 2018.
CNS memperoleh izin usaha sebagai perusahaan efek CNS had obtained the license as securities company that
yang hanya melakukan kegiatan usaha sebagai only engaged in activities as a securities underwrtiter,
Penjamin Emisi Efek, berdasarkan Surat OJK based on OJK letter No.S-26/D.04/2019 dated 11 March
No.S-26/D.04/2019 tanggal 11 Maret 2019. 2019.
Kepemilikan Bank CIMB Niaga atas CNS sebesar The ownership of Bank CIMB Niaga in CNS is 94.78%
94.78% dengan penyertaan modal sebanyak 5.990 with capital contribution of 5,990 shares with nominal
lembar saham dengan nilai nominal sebesar value of Rp 299,500.
Rp 299.500.
e. Dewan Komisaris, Direksi, Komite Audit, Komite e. Board of Commissioners, Board of Directors, Audit
Pemantau Risiko, Komite Nominasi dan Committee, Risk Oversight Committee, Nomination
Remunerasi, Komite Tata Kelola Terintegrasi, and Remuneration Committee, Integrated Governance
Dewan Pengawas Syariah, Satuan Kerja Audit Committee, Sharia Supervisory Board, Internal Audit
Internal, dan Sekretaris Perusahaan Unit, and Corporate Secretary
Pada tanggal 31 Desember 2020, 2019 dan 2018 As of 31 December 2020, 2019 and 2018 the
susunan Dewan Komisaris dan Direksi Bank CIMB composition of Board of Commissioners (“BOC”) and
Niaga adalah sebagai berikut: Board of Directors (“BOD”) of Bank CIMB Niaga were as
follow:
2020
Dewan Komisaris: Board of Commissioners:

Presiden Komisaris Bpk/Mr. Didi Syafruddin Yahya a) President Commissioner
Presiden Komisaris Bpk/Mr. Tengku Dato’Sri Zafrul Tengku Abdul President Commissioner
(sebelumnya) Aziz b) (previously)
Wakil Presiden Komisaris Vice President Commissioner
(Independen) Bpk/Mr. Glenn Muhammad Surya Yusuf c) (Independent)
Komisaris Bpk/Mr. David Richard Thomas Commissioner
Komisaris Bpk/Mr. Dato’ Abdul Rahman Ahmad d) Commissioner
Komisaris Independen Bpk/Mr. Jeffrey Kairupan e) Independent Commissioner
Komisaris Independen Ibu/Mrs. Sri Widowati Independent Commissioner
Komisaris Independen Bpk/Mr. Zulkifli M. Ali f) Independent Commissioner
Komisaris Independen Bpk/Mr. Primoehadi Notowidigdo f) Independent Commissioner


e. Dewan Komisaris, Direksi, Komite Audit, Komite e. Board of Commissioners, Board of Directors,
Pemantau Risiko, Komite Nominasi dan Audit Committee, Risk Oversight Committee,
Remunerasi, Komite Tata Kelola Terintegrasi, Nomination and Remuneration Committee,
Dewan Pengawas Syariah, Satuan Kerja Audit Integrated Governance Committee, Sharia
Internal, dan Sekretaris Perusahaan (lanjutan) Supervisory Board, Internal Audit Unit, and
Corporate Secretary (continued)
Pada tanggal 31 Desember 2020, 2019, dan 2018 As of 31 December 2020, 2019 and 2018 the
susunan Dewan Komisaris dan Direksi Bank CIMB composition of Board of Commissioners (“BOC”) and
Niaga adalah sebagai berikut: (lanjutan) Board of Directors (“BOD”) of Bank CIMB Niaga
were as follow: (continued)
2020
Direksi: Board of Directors:
Presiden Direktur Bpk/Mr. Tigor M. Siahaan President Director
Direktur Bpk/Mr. Lee Kai Kwong Director
Direktur Ibu/Mrs. Vera Handajani Director
Direktur Bpk/Mr. John Simon Director
Direktur Ibu/Mrs. Lani Darmawan Director
Direktur Bpk/Mr. Pandji P. Djajanegara Director
Direktur Ibu/Mrs. Tjioe Mei Tjuen g) Director
Direktur Ibu/Mrs. Rita Mas’Oen f) Director
Direktur Ibu/Mrs. Megawati Sutanto f) Director
Direktur Ibu/Mrs. Hedy Lapian f) Director
Direktur Bpk/Mr. Rahardja Alimhamzah h) Director
Direktur Kepatuhan Ibu/Mrs. Fransiska Oei Compliance Director
a) Efektif tanggal 7 Juli 2020. Effective on 7 July 2020.a)
b) Mengundurkan diri sejak 9 Maret 2020 dan telah diterima tanggal efektif Resigned effective on 9 March 2020 and has received the effective date b)
pengunduran diri tersebut dalam RUPS Tahunan tanggal 9 April 2020. of its resignation on the Annual GMS 9 April 2020.
c) Efektif tanggal 16 September 2020. Effective on 16 September 2020. c)
d) Diangkat melalui RUPS Luar Biasa tanggal 25 September 2020 dan efektif setelah Appointed on Extraordinary GMS dated 25 September 2020 and d)
mendapat persetujuan OJK. effective after obtaining approval from OJK.
e) Ditunjuk sebagai Komisaris Independen Senior Bank melalui Keputusan Sirkuler Appointed as Senior Independent Commissioner through Circular Resolution of e)
Dewan Komisaris CIMB Niaga No. 014/DEKOM/KP/VI/2019 per tanggal the Board of Commissioner of CIMB Niaga No. 014/DEKOM/KP/VI/2019
28 Juni 2019. dated 28 June 2019.
f) Berakhir masa jabatannya pada RUPS Tahunan tanggal 9 April 2020. Term of office ended on the closing of the Annual GMS of f)
shareholder on 9 April 2020.
g) Efektif tanggal 3 November 2020. Efective on 3 November 2020 g)
h) Mengundurkan diri dan efektif tanggal 9 April 2020 atau sejak ditutupnya RUPS Resigned and effective as of 9 April 2020 or as of the closing of the h)
Tahunan. Annual GMS 9 April 2020.
2019
Presiden Komisaris Bpk/Mr. Tengku Dato’Sri Zafrul Tengku
Abdul Aziz i)
Wakil Presiden Komisaris Bpk/Mr. Glenn Muhammad Surya Yusuf j) Vice President Commissioner
Komisaris Bpk/Mr. Didi Syafrudin Yahya k) Commissioner
Komisaris Independen Bpk/Mr. Zulkifli M. Ali Independent Commissioner
Komisaris Independen Bpk/Mr. Primoehadi Notowidigdo Independent Commissioner
Komisaris Independen Bpk/Mr. Jeffrey Kairupan l) Independent Commissioner
Komisaris Independen Ibu/Mrs. Sri Widowati k) Independent Commissioner

e. Dewan Komisaris, Direksi, Komite Audit, e. Board of Commissioners, Board of Directors, Audit
Komite Pemantau Risiko, Komite Nominasi dan Committee, Risk Oversight Committee, Nomination
Remunerasi, Komite Tata Kelola Terintegrasi, and Remuneration Committee, Integrated Governance
Dewan Pengawas Syariah, Satuan Kerja Audit Committee, Sharia Supervisory Board, Internal Audit
Internal, dan Sekretaris Perusahaan (lanjutan) Unit, and Corporate Secretary (continued)
2019
Direktur Bpk/Mr. Lee Kai Kwong m) Director
Direktur Ibu/Mrs. Rita Mas’Oen Director
Direktur Ibu/Mrs. Megawati Sutanto Director
Direktur Bpk/Mr. Pandji Pratama Djajanegara Director
Direktur Ibu/Mrs. Hedy Lapian Director
Direktur Bpk/Mr. Rahardja Alimhamzah Director
i) Efektif per tanggal 15 Maret 2019. Effective on 15 March 2019. i)
j) Mengundurkan diri per 1 September 2019 dan telah diterima dalam RUPS. Resigned effective on 1 September 2019 and has been receivedin GMS. j)
k) Efektif per tanggal 20 November 2019. Effective on 20 November 2019. k)
l) Ditunjuk sebagai Komisaris Independen Senior Bank melalui Keputusan Appointed as Senior Independent Commissioner through Circular. l)
Sirkuler Dewan Komisaris CIMB Niaga No. 014/DEKOM/KP/VI/2019 per Resolution of the Board of Commissioner of CIMB
tanggal 28 Juni 2019. Niaga No. 014/DEKOM/KP/VI/2019 dated 28 June 2019.
m) Efektif per tanggal 24 April 2019. Effective on 24 April 2019. m)
2018
Presiden Komisaris Bpk/Mr. Tengku Dato’Sri Zafrul Tengku Abdul President Commissioner
Aziz n)
Wakil Presiden Komisaris Bpk/Mr. Glenn Muhammad Surya Yusuf Vice President Commissioner
Komisaris Independen Bpk/Mr. Zulkifli M. Ali Independent Commissioner
Komisaris Independen Bpk/Mr. Primoehadi Notowidigdo Independent Commissioner
Komisaris Independen Bpk/Mr. Jeffrey Kairupan Independent Commissioner
Komisaris Independen Ibu/Mrs. Armida Salsiah Alisjahbana o) Independent Commissioner
Direktur Bpk/Mr. Wan Razly Abdullah o) Director
Direktur Bpk/Mr. Lee Kai Kwong n) Director
Direktur Ibu/Mrs. Rita Mas’Oen Director
Direktur Ibu/Mrs. Megawati Sutanto Director
Direktur Bpk/Mr. Pandji Pratama Djajanegara Director
Direktur Ibu/Mrs. Hedy Lapian Director
Direktur Bpk/Mr. Rahardja Alimhamzah Director

Remunerasi, Komite Tata Kelola Terintegrasi, and Remuneration Committee, Integrated
Dewan Pengawas Syariah, Satuan Kerja Audit Governance Committee, Sharia Supervisory Board,
Internal, dan Sekretaris Perusahaan (lanjutan) Internal Audit Unit, and Corporate Secretary
(continued)
n) Diangkat pada RUPS Luar Biasa Perseroan tanggal 19 Desember 2018 Appointed on Extraordinary GMS of the Company datd 19 December 2018 n)
dan efektif tanggal 24 April 2019. and effective on 24 April 2019.
o) Mengundurkan diri efektif sejak 1 Januari 2019. Resigned effective on 1 January 2019. o)
Pada tanggal 31 Desember 2020, 2019, dan 2018, As of 31 December 2020, 2019, and 2018, the
susunan Komite Audit Bank CIMB Niaga adalah: members of Bank CIMB Niaga’s Audit Committee are
as follow:
2020
Ketua, merangkap anggota Bpk/Mr. Jeffrey Kairupan * p) Chairman, concurrently as member
Anggota Ibu/Mrs. Endang Kussulanjari S. q) Member
Anggota Bpk/Mr. Ronald T.A. Kasim r) Member
Anggota Bpk/Mr. Zulkifli M. Ali * s) Member
Anggota Ibu/Mrs. Mawar I.R. Napitupulu s) Member
Anggota Bpk/Mr. Yap Tjay Soen t) Member
2019
Ketua, merangkap anggota Bpk/Mr. Jeffrey Kairupan * u) Chairman, concurrently as member
Anggota Bpk/Mr. Zulkifli M. Ali * v) Member
Anggota Ibu/Mrs. Mawar I.R. Napitupulu Member
Anggota Bpk/Mr. Yap Tjay Soen Member
2018
Ketua, merangkap anggota Bpk/Mr. Zulkifli M. Ali * Chairman, concurrently as member
Anggota Bpk/Mr. Jeffrey Kairupan * Member
Anggota Ibu/Mrs. Mawar I.R. Napitupulu Member
Anggota Bpk/Mr. Yap Tjay Soen Member
* Komisaris Independen Independent Commissioner *
p) Diangkat kembali selaku Ketua Komite Audit efektif per 9 April 2020. Reappointed as Chairman of Audit Committee effective since 9 April 2020. p)
q) Diangkat selaku anggota Komite Audit efektif per 9 April 2020. Appointed as member of the Audit Committee effective since 9 April 2020. q)
r) Diangkat selaku anggota Komite Audit efektif per 20 April 2020. Appointed as member of the Audit Committee effective since 20 April 2020. r)
s) Berakhir masa jabatannya di RUPS Tahunan tanggal 9 April 2020. Term of Office expires on the Annual GMS 9 April 2020. s)
t) Mengundurkan diri tanggal 8 April 2020 dan efektif tanggal 9 April 2020. Resigned on 8 April 2020 and effective on 9 April 2020. t)
u) Efektif sebagai Ketua Komite Audit sejak 1 Januari 2019. Effective as chairman of Audit Committee since 1 January 2019. u)
v) Efektif menjabat sebagai Anggota Komite Audit sejak 1 Januari 2019 (sebelumnya Effective as a member of Audit Committee since 1 January 2019 v)
menjabat sebagai Ketua Komite Audit). (previously served as the Chairman of Audit Committee).
Pembentukan Komite Audit Bank CIMB Niaga sesuai Establishment of Bank CIMB Niaga’s Audit Committee
dengan Peraturan Otoritas Jasa Keuangan (POJK) is in compliance with the requirements of FSA
No.55/POJK.03/2016 tanggal 7 Desember 2016 Regulation No.55/POJK.03/2016 dated
tentang Penerapan Tata Kelola Bagi Bank Umum dan 7 December 2016 regarding Governance
POJK No.55/POJK.04/2015 tanggal 29 Desember 2015 Implementation in Commercial Bank and FSA
tentang Pembentukan dan Pedoman Pelaksanaan Regulation No.055/POJK.04/2015 dated
Kerja Komite Audit. 29 December 2015 regarding Establishment and
Guideline for Implementation Duty of Audit Committee.


Remunerasi, Komite Tata Kelola Terintegrasi, and Remuneration Committee, Integrated
Dewan Pengawas Syariah, Satuan Kerja Audit Governance Committee, Sharia Supervisory Board,
Internal, dan Sekretaris Perusahaan (lanjutan) Internal Audit Unit, and Corporate Secretary
(continued)
Pada tanggal 31 Desember 2020, 2019, dan 2018, As of 31 December 2020, 2019 and 2018, the
susunan Komite Pemantau Risiko Bank CIMB Niaga members of Bank CIMB Niaga’s Risk Oversight
adalah: Committee were as follow:
2020
Ketua, merangkap anggota Bpk/Mr. Glenn Muhammad Surya Yusuf ***w) Chairman, concurrently as member
Ketua, merangkap anggota Bpk/Mr. Jeffrey Kairupan* x) Chairman, concurrently as member
(sebelumnya) (previously)
Ketua, merangkap anggota Bpk/Mr. Zulkifli M. Ali* y) Chairman, concurrently as member
Anggota Bpk/Mr. Didi Syafrudin Yahya ** z) Member
Anggota Bpk/Mr. David Richard Thomas aa) Member
Anggota Bpk/Mr. Firmanzah aa) Member
Anggota Ibu/Mrs. Sri Indrastuti S. Hadiputranto aa) Member
** Presiden Komisaris President Commissioner **
*** Wakil Presiden Komisaris (Independen) Vice President Commissioner (Independent) ***
w) Diangkat sebagai Ketua Pemantau Risiko sejak 6 Oktober 2020 (Sebelumnya bertugas Appointed as Chairman Risk Oversight effective on 6 October 2020 w)
sebagai Anggota sejak 17 Juni 2020) (previously served as Member since 17 June 2020
x) Diangkat sebagai Ketua Pemantau Resiko efektif sejak17 Juni 2020 Appointed as Chairman Risk Oversight on 17 June 2020 x)
y) Berakhir masa jabatannya sesuai RUPS Tahunan tanggal 9 April 2020 Term of Office expires in accordance with Annual GMS on 9 April 2020 y)
Appointed as Member as of 9 April 2020 z)
z) Diangkat sebagai Anggota efektif sejak tanggal 9 April 2020
Reappointed as Member effective as of 9 April 2020 aa)
aa) Diangkat kembali sebagai anggota efektif per tanggal 9 April 2020
2019
Ketua, merangkap anggota Bpk/Mr. Zulkifli M. Ali* Chairman, concurrently as member
Anggota Bpk/Mr. Glenn Muhammad Surya Yusuf ** bb) Member
Anggota Bpk/Mr. David Richard Thomas Member
Anggota Bpk/Mr. Firmanzah Member
Anggota Ibu/Mrs. Sri Indrastuti S. Hadiputranto Member
Anggota Bpk/Mr. Didi Syafrudin Yahya cc) Member
2018
Ketua, merangkap anggota Bpk/Mr. Zulkifli M. Ali* Chairman, concurrently as member
Anggota Bpk/Mr. Glenn Muhammad Surya Yusuf ** Member
Anggota Bpk/Mr. David Richard Thomas Member
Anggota Bpk/Mr. Firmanzah Member
Anggota Ibu/Mrs. Sri Indrastuti S. Hadiputranto Member

** Wakil Presiden Komisaris Vice President Commissioner **
bb) Mengundurkan diri per 1 September 2019 dan akan dimintakan persetujuan Resigned effective on 1 September 2019 and the approval will be sought bb)
dalam RUPS yang akan datang In the upcoming GMS
cc) Diangkat sebagai Anggota efektif sejak 26 November 2019 Reappoinred as Member effective as of 26 November 2020 cc)

susunan Komite Nominasi dan Remunerasi Bank CIMB members of Bank CIMB Niaga’s Nomination and
Niaga adalah: Remuneration Committee were as follow:
2020
Ketua, merangkap anggota Ibu/Mrs. Sri Widowati * dd) Chairman, concurrently as member
Ketua, merangkap anggota Bpk/Mr. Primoehadi Notowidigdo * ee) Chairman, concurrently as member
Anggota Bpk/Mr. Didi Syafruddin Yahya ** Member
Anggota Bpk/Mr. Glenn Muhammad Surya Yusuf *** Member
Anggota Bpk/Mr. Joni Raini Member
Anggota Bpk/Mr. Jeffrey Kairupan ff) Member
** Presiden Komisaris President Commissioner **
*** Wakil Presiden Komisaris Vice President Commissioner ***
dd) Diangkat melalui RUPS Tahunan Tanggal 9 April 2020 Appointed in Annual GMS of shareholder on 9 April 2020 dd)
ee) Berakhir masa jabatannya sesuai RUPS Tahunan tanggal 9 April 2020 Term of Office expires in accordance with Annual GMS on 9 April 2020 ee)
ff) Tidak lagi efektif menjadi anggota sejak 2 Januari 2020 No longer effective since 2 January 2020 ff)
susunan Komite Nominasi dan Remunerasi Bank members of Bank CIMB Niaga’s Nomination and
CIMB Niaga adalah: (lanjutan) Remuneration Committee were as follow:
(continued)
2019
Ketua, merangkap anggota Bpk/Mr. Primoehadi Notowidigdo * Chairman, concurrently as member
Anggota Bpk/Mr. Glenn Muhammad Surya Yusuf ** gg) Member
Anggota Bpk/Mr. Jeffrey Kairupan hh) Member
Anggota Bpk/Mr. Didi Syafruddin Yahya hh) Member
2018
Ketua, merangkap anggota Bpk/Mr. Primoehadi Notowidigdo * Chairman, concurrently as member
Anggota Ibu/Mrs. Armida Salsiah Alisjahbaba * ii) Member
Anggota Bpk/Mr. Dato’ Sri Nazir Razak jj) Member
Anggota Bpk/Mr. Glenn Muhammad Surya Yusuf kk) Member
** Wakil Presiden Komisaris Vice President Commissioner **
gg) Mengundurkan diri per 1 September 2019 dan akan dimintakan Resigned effective on 1 September 2019 and the approval will be sought gg)
persetujuandalam RUPST 2020 in the 2020 RUPST
hh) Efektif sejak 26 November 2019 Effective since 26 November 2019 hh)
ii) Mengundurkan diri sejak 1 Januari 2019 Resigned effective since 1 January 2019 ii)
jj) Mengundurkan diri sejak 19 Oktober 2018 Resigned effective since 19 Oktober 2018 jj)
kk) Efektif sejak 19 Oktober 2018 Effective on 19 October 2020 kk)

Pada tanggal 31 Desember 2020, 2019, dan 2018, As of 31 December 2020, 2019, and 2018, the
susunan Komite Tata Kelola Terintegrasi Bank CIMB members of Bank CIMB Niaga’s Integrated
Niaga adalah: Governance Committee were as follow:
2020
Ketua, merangkap anggota Ibu/Mrs. Sri Widowati * ll) Chairman, concurrently as member
Ketua Bpk/Mr. Jeffrey Kairupan * mm) Chairman
Anggota Ibu/Mrs. Endang Kussulanjari S. Member
Anggota Ibu/Mrs. Serena K. Ferdinandus Member
Anggota Bpk/Mr. Yulizar D. Sanrego Member
Anggota Bpk/Mr. Achiran Pandu Djajanto Member
2019
Ketua, merangkap anggota Bpk/Mr. Jeffrey Kairupan * Chairman, concurrently as member
Anggota Bpk/Mr. Achiran Pandu Djajanto nn) Member
2018
Ketua, merangkap anggota Bpk/Mr. Jeffrey Kairupan * Chairman, concurrently as member
Anggota Ibu/Mrs. Armida Salsiah Alisjahbana* oo) Member
Bpk/Mr. Albertus Banunaek pp)

ll) Efektif Per tanggal 17 Juni 2020 Effective on 17 June 2020 ll)
mm) Efektif per tanggal 17 Juni 2020, jabatannya sebagai ketua digantikan oleh Effective on 17 June 2020, his membership was replace by mm)
Ibu Sri Widowati Mrs. Sri Widowati
nn) Efektif sejak 7 Agustus 2019 Effective since 7 August 2019 nn)
oo) Mengundurkan diri efektif sejak 1 Januari 2019 Resigned effective since 1 January 2020 oo)
pp) Mengundurkan diri sejak Mei 2018 Resigned effective since May 2018 pp)

Pada tanggal 31 Desember 2020, 2019, dan 2018, As at 31 December 2020, 2019, and 2018, the
susunan Dewan Pengawas Syariah Bank CIMB Niaga members of Bank CIMB Niaga’s Sharia Supervisory
adalah: Board were as follows:
2020, 2019, dan/and 2018

Ketua Bpk/Mr. Prof. Dr. M. Quraish Shihab, MA Chairman
Anggota Bpk/Mr. Prof. Dr. Fathurrahman Djamil, MA Member
Anggota Bpk/Mr. Dr. Yulizar Djamaluddin Sanrego, M.Ec Member
Pada tanggal 31 Desember 2020, 2019, dan 2018 As at 31 December 2020, 2019, and 2018 the Chief
Kepala Satuan Kerja Audit Internal Bank CIMB Niaga of Bank CIMB Niaga’s Internal Audit Unit was
adalah Bapak Antonius Pramana Gunadi. Mr. Antonius Pramana Gunadi.
Pada tanggal 31 Desember 2020, 2019, dan 2018, As at 31 December 2020, 2019, and 2018, the Bank
Sekretaris Perusahaan CIMB Niaga adalah Ibu CIMB Niaga’s Corporate Secretary was Mrs.
Fransiska Oei. Fransiska Oei.
Pada tanggal 31 Desember 2020, karyawan Bank As at 31 December 2020, the number of employees
CIMB Niaga berjumlah 12.064 (2019: 12.372; of Bank CIMB Niaga was 12,064 (2019: 12,372;
2018: 12.461) (tidak audit). 2018: 12,461) (unaudited).
2. KEBIJAKAN AKUNTANSI 2. ACCOUNTING POLICIES

Laporan keuangan konsolidasian PT Bank CIMB Niaga Tbk The consolidated financial statements of PT Bank CIMB
dan Entitas Anak diselesaikan dan diotorisasi untuk terbit Niaga Tbk and Subsidiaries were completed and
oleh Direksi pada tanggal 17 Februari 2021. authorised for issuance by the Board of Directors on
17 February 2021.
Kebijakan akuntansi utama yang diterapkan dalam The principal accounting policies adopted in preparing the
penyusunan laporan keuangan konsolidasian adalah seperti consolidated financial statements are set out below:
dijabarkan di bawah ini:
a. Dasar penyusunan laporan keuangan konsolidasian a. Basis of preparation of the consolidated financial
statements
Laporan keuangan konsolidasian 31 Desember 2020, The consolidated financial statements 31 December
2019, dan 2018 disusun dan disajikan sesuai dengan 2020, 2019, and 2018 were prepared and stated in
Standar Akuntansi Keuangan di Indonesia yang accordance with Indonesian Financial Accounting
dikeluarkan oleh Ikatan Akuntan Indonesia. Standards issued by the Indonesian Institute of
Accountants.

2. KEBIJAKAN AKUNTANSI (lanjutan) 2. ACCOUNTING POLICIES (continued)

a. Dasar penyusunan laporan keuangan a. Basis of preparation of the consolidated financial
konsolidasian (lanjutan) statements (continued)
Laporan keuangan konsolidasian juga disusun sesuai The consolidated financial statements have been also
dengan Keputusan Ketua Bapepam-LK prepared in accordance with the Decree of the
No. KEP-347/BL/2012 tanggal 25 Juni 2012 yang Chairman of Bapepam-LK No. KEP-347/BL/2012
merupakan perubahan terakhir atas Keputusan Ketua dated 25 June 2012 which is the latest change of the
Bapepam-LK No. KEP 554/BL/2010 tanggal Decree of the Chairman of Bapepam-LK No. KEP
30 Desember 2010 dan Keputusan Ketua Bapepam- 554/BL/2010 dated 30 December 2010 and the
LK No. KEP-06/PM/2000 tanggal 13 Maret 2000 yaitu Decree of the Chairman of Bapepam-LK No. KEP-
Peraturan No. VIII.G.7 tentang “Penyajian dan 06/PM/2000 dated 13 March 2000 on Regulation No.
Pengungkapan Laporan Keuangan Emiten atau Peru VIII.G.7 regarding “Financial Statements Presentation
sahaan Publik”. and Disclosure of the Issuer or Public Company”.
Laporan keuangan konsolidasian disusun berdasarkan The consolidated financial statements have been
harga perolehan kecuali untuk aset keuangan yang prepared under the historical cost convention, except
diukur pada penghasilan komprehensif lain, aset dan for financial assets classified as fair value through
liabilitas keuangan yang diukur pada nilai wajar other comprehensive income, financial assets and
melalui laba rugi, instrumen derivatif yang diukur liabilities held at fair value through profit and loss, all
berdasarkan nilai wajar, dan aset tetap berupa tanah derivative contracts which have been measured at fair
dan bangunan yang diukur berdasarkan nilai wajar value, and fixed assets of lands and buildings which
sesuai model revaluasi. Nilai tercatat dari aset dan have been measured at fair value in accordance with
liabilitas yang merupakan item yang dilindung nilai revaluation model. The carrying values of recognised
dalam lindung nilai atas nilai wajar, yang seharusnya assets and liabilities that are hedged items in fair
disajikan sebesar harga perolehan, disesuaikan value hedges, and otherwise carried at cost, are
dengan perubahan nilai wajar yang yang dapat adjusted to record changes in fair value attributable to
diatribusikan dengan risiko yang dilindungnilaikan. the risks that are being hedged. The consolidated
Laporan keuangan konsolidasian disusun berdasarkan financial statements are prepared under the accrual
akuntansi berbasis akrual, kecuali laporan arus kas basis of accounting, except for the consolidated
konsolidasian. statement of cash flows.
Laporan arus kas konsolidasian disusun menggunakan The consolidated statement of cash flows is prepared
metode langsung dan arus kas dikelompokkan atas based on the direct method by classifying cash flows
dasar kegiatan operasi, investasi, dan pendanaan. on the basis of operating, investing, and financing
Untuk tujuan laporan arus kas konsolidasian, kas dan activities. For the purpose of the consolidated
setara kas mencakup kas, giro pada BI, giro pada bank statements of cash flows, cash and cash equivalents
lain, dan investasi jangka pendek lancar lainnya include cash, current accounts with BI, current
dengan jangka waktu 3 (tiga) bulan atau kurang sejak accounts with other banks, and other short term highly
tanggal perolehan. liquid investments with original maturities of 3 (three)
months or less from the acquisition date.
Seluruh angka dalam laporan keuangan konsolidasian Figures in the consolidated financial statements are
ini, kecuali dinyatakan secara khusus, dibulatkan dan rounded to and stated in millions of Rupiah, unless
disajikan dalam jutaan Rupiah yang terdekat. otherwise stated.
Penyusunan laporan keuangan sesuai dengan Standar The preparation of financial statements in
Akuntansi Keuangan di Indonesia mengharuskan conformity with Indonesian Financial Accounting
penggunaan estimasi dan asumsi. Hal tersebut juga Standards requires the use of certain critical
mengharuskan manajemen untuk membuat accounting estimates and assumptions. It also
pertimbangan dalam proses penerapan kebijakan requires management to exercise its judgement in
akuntansi Bank CIMB Niaga dan Entitas Anak. Area the process of applying the Bank CIMB Niaga and
yang kompleks atau memerlukan tingkat pertimbangan Subsidiaries accounting policies. The areas involving
yang lebih tinggi atau area dimana asumsi dan a higher degree of judgement or complexity, or areas
estimasi dapat berdampak signifikan terhadap laporan where assumptions and estimates are significant to
keuangan konsolidasian diungkapkan di Catatan 3. the consolidated financial statements are disclosed in
Note 3.

b. Perubahan kebijakan akuntansi yang signifikan b. Change in significant accounting policies
Kecuali dinyatakan di bawah ini, kebijakan akuntansi Except as described below, the accounting policies
telah diterapkan secara konsisten dengan laporan applied are consistent with those of the consolidated
keuangan konsolidasian pada tanggal dan untuk tahun financial statements as at and for the year ended
yang berakhir 31 Desember 2020 yang telah sesuai 31 December 2020 which conform to the Indonesian
dengan Standar Akuntansi Keuangan di Indonesia. Financial Accounting Standards.
Dewan Standar Akuntansi Keuangan Ikatan Akuntan Financial Accounting Standard Board of Indonesia
Indonesia (“DSAK-IAI”) telah melakukan revisi atas Institute of Accounting (“DSAK-IAI”) has issued
beberapa standar akuntansi yang berlaku efektif pada revision of the following accounting standards which
tanggal 1 Januari 2020, sebagai berikut: are effective as at 1 January 2020, as follows:
- PSAK 71: ”Instrumen Keuangan”; - SFAS 71: ”Financial Instruments”;

- PSAK 72: ”Pendapatan dari Kontrak dengan - SFAS 72: ”Revenue from Contracts
Pelanggan”; with Customers”;
- PSAK 73: ”Sewa”; - SFAS 73: ”Leases”;
- Amandemen PSAK 1: “Penyajian Laporan - Amendment of SFAS 1: “Presentation of Financial
Keuangan” dan Amandemen PSAK 25: “Kebijakan Statements” and Amendment of SFAS 25:
Akuntansi, Perubahan Estimasi Akuntansi, dan “Accounting Policy, Changes in Accounting
Kesalahan tentang Definisi Material”; Estimate and Errors”;
- Amandemen PSAK 15: ”Investasi pada Entitas - Amendment of SFAS 15: ”Long term Interest in
Asosiasi dan Ventura Bersama tentang Associates and Joint Ventures regarding Long
Kepentingan Jangka Panjang pada Entitas Term Interest in Associates and Joint Ventures” ;
Asosiasi dan Ventura Bersama”;
- Amandemen PSAK 62: “Kontrak Asuransi – - Amendment of SFAS 62: “Insurance Contract –
Menerapkan PSAK 71: Instrumen Keuangan”; Applying SFAS 71: Financial Instruments”;
- Amandemen PSAK 102: “Akuntansi Murabahah”; - Amendment of SFAS 102: “Accounting for
Murabahah”;
- Amandemen PSAK 71 “Instrumen Keuangan: - Amendment of SFAS 71 “Financial Instruments:
tentang Fitur Percepatan Pelunasan dengan Prepayment features with Negative
Kompensasi Negatif”; Compensation”;
- Amandemen PSAK 73: “Konsesi Sewa terkait - Amendment of SFAS 73: “Covid – 19 related
Covid 19”; Rent Concessions”;
PSAK 102: “Akuntansi Murabahah”; - SFAS 102: “Accounting for Murabahah”;
- ISAK 35: “Penyajian Laporan Keuangan Entitas - IFAS 35: “Presentation of Non – Profit Oriented
Berorientasi Nirlaba”; Entities Financial Statements”;
- ISAK 101: “Pengakuan Pendapatan Murabahah - IFAS 101: “Recognition of Deferred Murabahah
Tanggung Tanpa Resiko Signifikan terkait Income without Significant Inventory Ownership
Kepemilikan Persediaan”; Risks”;
- ISAK 102: ”Penurunan Nilai Piutang Murabahah”; - IFAS 102: “Impairment of Murabahah
dan Receivables”; and
- PPSAK 13: “Pencabutan PSAK 45 Laporan - PPSAK 13: “Revocation of SFAS 45 Financial
Keuangan Entitas Nirlaba”. Reporting for Non-Profit Organizations”.


(lanjutan) (continued)
PSAK 71 dan 73 di atas memiliki dampak yang SFAS 71 and 73 had significant effect on the amounts
signifikan terhadap jumlah yang dilaporkan pada reported for current period and prior years.
periode berjalan dan tahun-tahun sebelumnya.
Sedangkan untuk PSAK lainnya yang tersebut diatas Whereas for other SFAS other that mention above
tidak memiliki dampak signifikan terhadap jumlah yang had no significant effect on the amount reported for
dilaporkan pada periode berjalan atau tahun-tahun current period or prior years.
sebelumnya.
PSAK 71 “Instrumen Keuangan” SFAS 71 “Financial Instruments”
PSAK 71 menggantikan PSAK 55 “Instrumen SFAS 71 replaces SFAS 55 “Financial Instruments:

Keuangan: Pengakuan dan Pengukuran“ dan Recognition and Measurement” and introduces new
memperkenalkan pengaturan baru untuk klasifikasi requirements for classification and measurement for
dan pengukuran instrumen keuangan berdasarkan financial instruments based on business model and
penilaian atas model bisnis dan arus kas kontraktual, contractual cashflow assesstment, recognition and
pengakuan dan pengukuran cadangan kerugian measurement for allowance for impairments losses for
penurunan nilai instrumen keuangan dengan financial instruments using the expected credit loss
menggunakan model kerugian ekspektasian, yang model, which replaced the incurred credit loss model
menggantikan model kerugian kredit yang terjadi serta and also provides simplified approach to hedge
memberikan pendekatan yang lebih sederhana untuk accounting.
akuntansi lindung nilai.
Sesuai dengan persyaratan transisi pada PSAK 71, In accordance with the transition requirements in
Bank CIMB Niaga dan Entitas Anak memilih SFAS 71, Bank CIMB Niaga and Subsidiaries elected
penerapan secara retrospektif dengan dampak to apply retrospectively with the cumulative effect of
kumulatif pada awal penerapan yang diakui pada initial implementation recognised at 1 January 2020
tanggal 1 Januari 2020 dan tidak menyajikan kembali and not restate comparative information. Bank CIMB
informasi komparatif. Bank CIMB Niaga dan Entitas Niaga and Subsidiaries has adjusted the beginning
Anak telah melakukan penyesuaian pada saldo laba 2020 retained earnings amounting to Rp 5,469,574
awal tahun 2020 sebesar Rp 5.469.574 (bruto sebelum (gross before tax) which come from the increase of
pajak) yang berasal dari kenaikan cadangan kerugian allowance for losses for financial instruments (refer to
penuruan nilai instrumen keuangan (lihat catatan 65). note 65).
Berdasarkan penilaian terhadap model bisnis dan arus Based on assessment of business model and
kas kontraktual, pengaturan baru atas PSAK 71 untuk contractual cashflow, there is no change to the
klasifikasi dan pengukuran instrumen keuangan tidak carrying amount of financial assets and liabilities as of
berdampak terhadap jumlah tercatat aset dan liabilitas 1 January 2020 due to the adoption of SFAS 71.
keuangan pada tanggal 1 Januari 2020.


PSAK 73 “Sewa” SFAS 73 “Leases”
Sehubungan dengan penerapan PSAK 73, Bank CIMB In relation to implementation of SFAS 73, Bank CIMB
Niaga dan Entitas Anak sebagai pihak penyewa Niaga and Subsidiaries as lessee recognised right-of-
mengakui aset hak-guna dan liabilitas sewa terkait use assets and lease liabilities related to leases which
dengan sewa yang sebelumnya diklasifikasikan were previously classified as operating leases based
sebagai sewa operasi berdasarkan PSAK 30 “Sewa”, on SFAS 30 “Leases”, expect for short-term leases or
kecuali atas sewa jangka pendek atau sewa dengan leases with low value assets, refer to Note 2x. These
aset yang bernilai rendah, lihat Catatan 2x. Liabilitas lease liabilities were measured at the present value of
sewa diukur pada nilai kini dari sisa pembayaran sewa, the remaining lease payments, discounted using the
yang didiskontokan dengan menggunakan suku bunga incremental borrowing rate as of 1 January 2020. In
pinjaman inkremental pada tanggal 1 Januari 2020. determining incremental borrowing rate, Bank CIMB
Dalam menentukan suku bunga pinjaman inkremental, Niaga and Subsidiaries consider the following main
Bank CIMB Niaga dan Entitas Anak factors: Bank CIMB Niaga and Subsidiaries’ corporate
mempertimbangkan faktor-faktor utama berikut: risiko credit risk, the lease term, the lease payment term,
kredit korporasi Bank CIMB Niaga dan Entitas Anak, the time at which the lease is entered into, and the
jangka waktu sewa, jangka waktu pembayaran sewa, currency in which the lease payments are
tanggal dimulainya sewa, dan mata uang dimana denominated.
pembayaran sewa ditentukan.
Dalam menerapkan PSAK 73 untuk pertama kalinya, In Applying SFAS 73 for the first time, Bank CIMB
Bank CIMB Niaga dan Entitas Anak menerapkan cara Niaga and Subsidiaries used this practical expedient
praktis yang diizinkan oleh standar dengan cara permitted by the standard in the which use of a single
menerapkan tingkat diskonto tunggal untuk portofolio discount rate to a portofolio of leases with reasonably
sewa dengan karakteristik yang cukup serupa serta similar characteristics and did not make transition
tidak membuat penyesuaian transisi untuk sewa yang adjustment for leases with low value underlying assets
aset pendasarnya bernilai rendah dan sewa jangka and short-term leases.
pendek.
c. Prinsip konsolidasi c. Principles of consolidation

Laporan keuangan konsolidasian meliputi laporan The consolidated financial statements include the
keuangan Bank CIMB Niaga dan Entitas Anak. financial statements of Bank CIMB Niaga and
Subsidiaries.
Bank mengendalikan suatu entitas ketika Bank The Bank controls an entity when the Bank is
terekspos terhadap, atau memiliki hak atas, exposed to, or has right to, variable returns from its
pengembalian variabel dari keterlibatannya terhadap involvement with the entity and has the ability to
entitas dan memiliki kemampuan untuk mempengaruhi affect those return through its power over the entity.
pengembalian tersebut melalui kekuasaannya atas
entitas tersebut.
Dampak signifikan dari seluruh transaksi dan saldo The significant effects of all transactions and balances
antara perusahaan-perusahaan yang dikonsolidasikan between the consolidated companies have been
telah dieliminasi dalam penyajian laporan keuangan eliminated in preparing the consolidated financial
konsolidasian. statements.

c. Prinsip konsolidasi (lanjutan) c. Principles of consolidation (continued)
Kebijakan akuntansi penting yang dipakai dalam The significant accounting policies adopted in
penyajian laporan keuangan konsolidasian telah preparing the consolidated financial statements have
diterapkan secara konsisten oleh Bank CIMB Niaga been consistently applied by Bank CIMB Niaga and
dan Entitas Anak, kecuali dinyatakan secara khusus. Subsidiaries, unless otherwise stated.
Kepentingan nonpengendali atas hasil usaha dan Non-controlling interests in the results and equity of
ekuitas Entitas Anak disajikan terpisah pada masing- the Subsidiaries are shown separately in the
masing laporan laba rugi dan penghasilan consolidated statement of profit or loss and other
komprehensif lain konsolidasian serta laporan posisi comprehensive income and consolidated statement of
keuangan konsolidasian. financial positions, respectively.
Bila pengendalian atas suatu entitas diperoleh dalam Where control of an entity is obtained during current
tahun berjalan, hasil usaha entitas tersebut dicatat year, its results are recorded as profit/loss from the
sebagai laba/rugi sejak tanggal pengendalian dimulai. date on which control commences. When control
Bila pengendalian berakhir dalam tahun berjalan, hasil ceases during current year, its results are included in
usaha entitas tersebut dimasukkan ke dalam laporan the consolidated financial statements for the part of
keuangan konsolidasian untuk periode dimana the period during which control existed.
pengendalian masih berlangsung.
d. Kebijakan Akuntansi Entitas Anak d. Accounting Policies for Subsidiaries
Entitas Anak adalah seluruh entitas (termasuk entitas Subsidiaries are all entities (including structured
terstruktur) dimana Bank memiliki pengendalian. entities) overwhich the Bank has control. Subsidiaries
Entitas Anak dikonsolidasikan secara penuh sejak are fully consolidated from the date on which control
tanggal dimana pengendalian dialihkan kepada Bank. is transferred to the Bank. They are deconsolidated
Entitas Anak tidak dikonsolidasikan lagi sejak tanggal from the date on which that control ceases.
dimana Bank kehilangan pengendalian.
Bank CIMB Niaga menggunakan metode akuisisi Bank CIMB Niaga uses the acquisition method of
untuk mencatat kombinasi bisnis. Imbalan yang accounting to account for business combinations. The
dialihkan untuk akuisisi suatu Entitas Anak adalah consideration transferred for the acquisition of
sebesar nilai wajar aset yang dialihkan, liabilitas yang a Subsidiary is the fair value of the assets transferred,
diakui dan kepentingan ekuitas yang diterbitkan oleh the liabilities incurred and the equity interests issued
Bank CIMB Niaga. Imbalan yang dialihkan termasuk by Bank CIMB Niaga. The consideration transferred
nilai wajar aset atau liabilitas yang timbul dari includes the fair value of any asset or liability resulting
kesepakatan imbalan kontinjensi. from a contingent consideration arrangement.
Biaya terkait akuisisi dibebankan ketika terjadi. Aset Acquisition related costs are expensed as incurred.
teridentifikasi yang diperoleh dan liabilitas serta Identifiable assets acquired and liabilities and
liabilitas kontinjensi yang diambil alih dalam suatu contingent liabilities assumed in a business
kombinasi bisnis diukur pada awalnya sebesar nilai combination are measured initially at their fair values
wajar pada tanggal akuisisi. at the acquisition date.
Untuk setiap akuisisi, Bank CIMB Niaga mengakui On an acquisition by acquisition basis, Bank CIMB
kepentingan nonpengendali pada pihak yang diakuisisi Niaga recognises any non-controlling interest in the
baik sebesar nilai wajar atau sebesar bagian acquiree either at fair value or at the non-controlling
proporsional kepentingan nonpengendali atas aset interest’s proportionate share of the acquiree’s net
neto pihak yang diakuisisi. assets.


d. Kebijakan Akuntansi Entitas Anak (lanjutan) d. Accounting Policies for Subsidiaries (continued)
Selisih lebih imbalan yang dialihkan, jumlah The excess of the consideration transferred the
kepentingan nonpengendali pada pihak yang diakuisisi amount of any non-controlling interest in the acquiree
serta nilai wajar pada tanggal akuisisi kepentingan and the acquisition date fair value of any previous
ekuitas sebelumnya dimiliki pihak pengakuisisi atas equity interest in the acquiree over the fair value of
nilai wajar aset teridentifikasi yang diakuisisi dicatat the identifiable net assets acquired is recorded as
sebagai goodwill. Jika jumlah ini lebih rendah dari nilai goodwill. If this is less than the fair value of the net
wajar aset neto entitas yang diakuisisi dalam kasus assets of the subsidiaries acquired in the case of a
pembelian dengan diskon, selisihnya diakui langsung bargain purchase, the difference is recognised
sebagai laba/rugi. directly in profit/loss.
Transaksi dengan kepentingan nonpengendali yang Transactions with non-controlling interests that do not
tidak mengakibatkan hilangnya pengendalian result in loss of control are accounted for as equity
merupakan transaksi ekuitas. Selisih antara nilai wajar transactions. The difference between the fair value of
imbalan yang dibayar dan bagian yang diakuisisi atas any consideration paid and the relevant share
nilai tercatat aset neto entitas anak dicatat pada acquired of the carrying value of net assets of the
ekuitas. Keuntungan atau kerugian pelepasan subsidiaries is recorded in equity. Gains or losses on
kepentingan nonpengendali juga dicatat pada ekuitas. disposals to non-controlling interests are also
recorded in equity.
e. Penjabaran mata uang asing e. Foreign currency translation
Mata uang fungsional Functional currency
Laporan keuangan konsolidasian Bank CIMB Niaga Consolidated financial statements Bank CIMB Niaga
dan Entitas Anak disajikan dalam Rupiah yang and Subsidiaries are presented in Rupiah which is the
merupakan mata uang fungsional Bank CIMB Niaga functional currency of the Bank CIMB Niaga and
dan Entitas Anak. Subsidiaries.
Mata uang pelaporan Reporting currency
Laporan keuangan konsolidasian disajikan dalam mata The consolidated financial statements are presented
uang Rupiah, yang merupakan mata uang pelaporan in Rupiah, which is the reporting currency of Bank
Bank CIMB Niaga dan Entitas Anak. CIMB Niaga and Subsidiaries.
Transaksi dan saldo Transactions and balances
Transaksi dalam mata uang asing dijabarkan ke dalam Transactions denominated into a foreign currency
mata uang Rupiah dengan menggunakan kurs yang are converted into Rupiah at the exchange rate
berlaku pada tanggal transaksi. prevailing at the date of the transaction.
Aset dan liabilitas moneter dalam mata uang asing Monetary assets and liabilities denominated in
dijabarkan ke dalam Rupiah menggunakan kurs foreign currency are translated into Rupiah with the
penutupan pada tanggal pelaporan dengan closing rate as at the reporting date using Bank
menggunakan kurs spot Bank Indonesia di sistem Indonesia’s spot rate in Reuters’s system at 4.00
Reuters pada pukul 16.00 WIB untuk tanggal p.m. WIB (Western Indonesian Time) on
31 Desember 2020, 2019, dan 2018. Aset dan 31 December 2020, 2019, and 2018. Non-monetary
liabilitas nonmoneter dalam mata uang asing yang assets and liabilities measured at historical cost
diukur berdasarkan biaya perolehan diamortisasi denominated in a foreign currency are translated into
dijabarkan ke dalam Rupiah dengan kurs pada tanggal Rupiah with the exchange rate as at the date of
pengakuan awal. Aset dan liabilitas nonmoneter yang initial recognition. Non-monetary assets and
diukur berdasarkan nilai wajar dijabarkan ke dalam liabilities in a foreign currency that are measured at
Rupiah dengan kurs pada tanggal nilai wajar fair value are translated into Rupiah using the
ditentukan. exchange rates at the date when the fair value was
determined.

e. Penjabaran mata uang asing (lanjutan) e. Foreign currency translation (continued)
Transaksi dan saldo (lanjutan) Transactions and balances (continued)
Keuntungan atau kerugian selisih kurs yang timbul dari Exchange gains or losses arising on transactions in
transaksi dalam mata uang asing dan dari penjabaran foreign currency and on the translation of foreign
aset dan liabilitas moneter dalam mata uang asing, currency monetary assets and liabilities are
diakui sebagai laba/rugi, kecuali apabila ditangguhkan recognised as profit/loss, except when deferred in
pada pendapatan komprehensif lainnya sebagai other comprehensive income as qualifying cash flow
lindung nilai arus kas yang memenuhi syarat. hedges.
Selisih penjabaran mata uang asing atas efek utang Translation differences on debt securities and other
dan aset moneter keuangan lainnya yang diukur monetary financial assets measured at fair value are
berdasarkan nilai wajar dicatat sebagai bagian dari included in foreign exchange gains and losses.
keuntungan dan kerugian selisih kurs.
Berikut ini adalah kurs mata uang asing utama yang Below are the major exchange rates used for
digunakan untuk penjabaran pada tanggal translation as at 31 December 2020, 2019, and
31 Desember 2020, 2019, dan 2018 : 2018 :
2020 2019 2018

Pound Sterling 19,012 18,238 18,311 Pound Sterling
Euro 17,234 15,571 16,441 Euro
Franc Swiss 15,901 14,337 14,595 Swiss Franc
Dolar Amerika Serikat 14,050 13,883 14,380 United States Dollar
Dolar Kanada 10,981 10,640 10,561 Canadian Dollar
Dolar Singapura 10,606 10,315 10,555 Singapore Dollar
Dolar Australia 10,752 9,725 10,162 Australian Dollar
Dolar Selandia Baru 10,088 9,335 9,659 New Zealand Dollar
Riyal Saudi Arabia 3,745 3,701 3,834 Saudi Arabian Riyal
Ringgit Malaysia 3,481 3,392 3,477 Ringgit Malaysia
Dolar Hongkong 1,812 1,783 1,836 Hongkong Dollar
Thai Baht 468 465 444 Thai Baht
Yen Jepang 136 128 131 Japanese Yen
f. Aset dan liabilitas keuangan f. Financial assets and liabilities
(i) Aset keuangan (i) Financial assets
Kebijakan berlaku sebelum tanggal 1 Januari Policy applicable before 1 January 2020
2020
Bank CIMB Niaga dan Entitas Anak Bank CIMB Niaga and Subsidiaries classifies its
mengklasifikasikan aset keuangannya dalam financial assets in the following categories of (A)
kategori (A) aset keuangan yang diukur pada nilai financial assets at fair value through profit and
wajar melalui laba rugi, (B) kredit yang diberikan loss, (B) loans and receivables, (C) held-to-
dan piutang, (C) aset keuangan yang dimiliki maturity financial assets, and (D) available-for-
hingga jatuh tempo, dan (D) aset keuangan sale financial assets.
tersedia untuk dijual.

f. Aset dan liabilitas keuangan (lanjutan) f. Financial assets and liabilities (continued)
(i) Aset keuangan (lanjutan) (i) Financial assets (continued)
2020 (lanjutan) (continued)
Klasifikasi ini tergantung dari tujuan perolehan The classification depends on the purpose for
aset keuangan tersebut. Manajemen menentukan which the financial assets were acquired.
klasifikasi aset keuangan tersebut pada saat awal Management determines the classification of its
pengakuannya. financial assets at initial recognition.
(A) Aset keuangan yang diukur pada nilai wajar (A) Financial assets at fair value through profit
melalui laba rugi or loss
Kategori ini terdiri dari dua sub kategori: aset This category comprises two sub-categories:
keuangan yang diklasifikasikan dalam financial assets classified as held for trading
kelompok diperdagangkan dan aset and financial assets designated as at fair
keuangan yang pada saat pengakuan awal value through proft or loss upon initial
telah ditetapkan untuk diukur pada nilai wajar recognition.
melalui laba rugi.
Aset keuangan diklasifikasikan dalam A financial asset is classified as held for

kelompok diperdagangkan jika diperoleh trading if it is acquired or incurred principally
atau dimiliki terutama untuk tujuan dijual for the purpose of selling or repurchasing it
atau dibeli kembali dalam waktu dekat atau in the near term or if it is part of a portfolio of
jika merupakan bagian dari portofolio identified financial instruments that are
instrumen keuangan tertentu yang dikelola managed together and for which there is
bersama dan terdapat bukti mengenai pola evidence of a recent actual pattern of short
ambil untung dalam jangka pendek (short term profit taking. Derivatives are also
term profit taking) yang terkini. Derivatif juga categorised as held for trading unless they
dikategorikan dalam kelompok are designated and effective as hedging
diperdagangkan, kecuali derivatif yang instruments. Financial assets held for
ditetapkan dan efektif sebagai instrumen trading consist of marketable securities,
lindung nilai. Aset keuangan yang Government Bonds, and derivative
diklasifikasikan dalam kelompok receivables.
diperdagangkan terdiri dari efek-efek,
Obligasi Pemerintah, dan tagihan derivatif.
Instrumen keuangan yang dikelompokkan ke Financial instruments included in this

dalam kategori ini diakui pada nilai wajarnya category are recognised initially at fair
pada saat pengakuan awal; biaya transaksi value; transaction costs (if any) are
(jika ada) diakui secara langsung sebagai recognised directly as profit or loss. Gains
laba rugi. Keuntungan dan kerugian yang and losses arising from changes in fair
timbul dari perubahan nilai wajar dan value and sales of these financial
penjualan instrumen keuangan diakui instruments are recognised directly as profit
sebagai laba rugi dan dicatat masing-masing or loss and are reported respectively as
sebagai “Keuntungan/(kerugian) dari “Gains/(losses) from sale of financial
perubahan nilai wajar instrumen keuangan” instruments”. Interest income on financial
dan “Keuntungan/(kerugian) dari penjualan instruments held for trading are included in
instrumen keuangan”. Pendapatan bunga “Interest income”.
dari instrumen keuangan dalam kelompok
diperdagangkan dicatat sebagai
“Pendapatan bunga”.

(B) Kredit yang diberikan dan piutang (B) Loans and receivables
Kredit yang diberikan dan piutang adalah Loans and receivables are non-derivative
aset keuangan nonderivatif dengan financial assets with fixed or determinable
pembayaran tetap atau telah ditentukan dan payments that are not quoted in an active
tidak mempunyai kuotasi di pasar aktif, market, other than:
kecuali:
(a) yang dimaksudkan untuk dijual dalam (a) those that intends to be sold immediately
waktu dekat, yang diklasifikasikan or in the short term, which are classified
dalam kelompok diperdagangkan, serta as held for trading, and those that the
yang pada saat pengakuan awal entity upon initial recognition designates
ditetapkan sebagai diukur pada nilai as at fair value through profit or loss;
wajar melalui laba rugi;
(b) yang pada saat pengakuan awal (b) those that upon initial recognition
ditetapkan dalam kelompok tersedia designates as available-for-sale; or
untuk dijual; atau
(c) dalam hal mungkin tidak akan diperoleh (c) those for which the holder may not
kembali investasi awal secara recover substantially all of its initial
substansial kecuali yang disebabkan investment, other than because of loans
oleh penurunan kualitas kredit yang and receivables deterioration.
diberikan dan piutang.
Lihat Catatan 2o untuk kebijakan akuntansi Refer to Note 2o for the accounting policy
mengenai kredit yang diberikan. regarding loan.
Pada saat pengakuan awal, kredit yang Loans and receivables are initially
diberikan dan piutang diakui pada nilai recognised at fair value plus transaction
wajarnya ditambah biaya transaksi (jika ada) costs (if any) and subsequently measured at
dan selanjutnya diukur pada biaya perolehan amortised cost using the effective interest
diamortisasi dengan menggunakan metode rate method less allowance for impairment
suku bunga efektif dikurangi cadangan losses. Income on financial assets classified
kerugian penurunan nilai. Pendapatan dari as loans and receivables is recorded as
aset keuangan dalam kelompok kredit yang profit/ loss and is reported as “Interest
diberikan dan piutang dicatat sebagai laba income”.
rugi dan dilaporkan sebagai “Pendapatan
bunga”.
Dalam hal terjadi penurunan nilai, kerugian In the case of impairment, the impairment
penurunan nilai dilaporkan sebagai loss is reported as a deduction from the
pengurang dari nilai tercatat dari aset carrying value of the financial assets
keuangan dalam kelompok kredit yang classified as loan and receivables
diberikan dan piutang, dan diakui pada laba recognised as profit/loss and is reported as
rugi sebagai “Pembentukan cadangan “Allowance for impairment losses on
kerugian penurunan nilai atas aset financial assets”.
keuangan”.


(C) Aset keuangan dimiliki hingga jatuh tempo (C) Held-to-maturity financial assets
Aset keuangan dalam kelompok dimiliki Held-to-maturity financial assets are non-
hingga jatuh tempo adalah aset keuangan derivative financial assets with fixed or
nonderivatif dengan pembayaran tetap atau determinable payments and fixed maturities
telah ditentukan dan jatuh temponya telah that Bank CIMB has the positive intention
ditetapkan, serta Bank CIMB Niaga and ability to hold to maturity, other than:
mempunyai intensi positif dan kemampuan
untuk memiliki aset keuangan tersebut
hingga jatuh tempo, kecuali:
a) investasi yang pada saat pengakuan a) those that upon initial recognition
awal ditetapkan sebagai aset keuangan designates as at fair value through profit
yang diukur pada nilai wajar melalui or loss;
laba rugi;
b) investasi yang ditetapkan oleh Bank b) those that Bank CIMB Niaga designates
CIMB Niaga dalam kelompok tersedia as available-for-sale; and
untuk dijual; dan
c) investasi yang memiliki definisi kredit c) those that meet the definition of loans
yang diberikan dan piutang. and receivables.
Pada saat pengakuan awal, aset keuangan These are initially recognised at fair value
dimiliki hingga jatuh tempo diakui pada nilai including transaction costs (if any) and
wajarnya ditambah biaya transaksi (jika ada) subsequently measured at amortised cost,
dan selanjutnya diukur pada biaya perolehan using the effective interest method less
diamortisasi dengan menggunakan suku allowance for impairment losses.
bunga efektif dikurangi cadangan kerugian
penurunan nilai.
Pendapatan bunga dan investasi dimiliki Interest income on held-to-maturity
hingga jatuh tempo dicatat sebagai laba rugi investments is recorded as profit/loss and
dan dilaporkan sebagai “Pendapatan reported as “Interets income”. In the case
bunga”. Ketika penurunan nilai terjadi, of an impairment, the impairment loss is
kerugian penurunan nilai diakui sebagai reported as a deduction from the carrying
pengurang dari nilai tercatat investasi dan value of the investment and recognised in
diakui di dalam laporan keuangan the consolidated financial statement as
konsolidasian sebagai “Pembentukan “Allowance for impairment losses on
cadangan kerugian penurunan nilai atas financial assets”.
aset keuangan”.
(D) Aset keuangan tersedia untuk dijual (D) Available-for-sale financial assets
Aset keuangan dalam kelompok tersedia Available-for-sale financial assets are non-
untuk dijual adalah aset keuangan derivative financial assets that are
nonderivatif yang ditetapkan untuk dimiliki intended to be held for indefinite period of
untuk periode tertentu dimana akan djual time, which may be sold in response to
dalam rangka pemenuhan likuiditas atau needs for liquidity or changes in interest
perubahan suku bunga, valuta asing atau rates, exchange rate or that are not
yang tidak diklasifikasikan sebagai kredit classified as loans and receivables, held-
yang diberikan atau piutang, aset keuangan to-maturity financial assets or financial
yang diklasifikasikan dalam kelompok assets at fair value through profit/loss.
dimiliki hingga jatuh tempo atau aset
keuangan yang diukur pada nilai wajar
melalui laba/rugi.


(D) Aset keuangan tersedia untuk dijual (D) Available-for-sale financial assets
Pada saat pengakuan awalnya, aset Available-for-sale financial assets are
keuangan tersedia untuk dijual diakui pada initially recognised at fair value, plus
nilai wajarnya ditambah biaya transaksi (jika transaction costs (if any), and measured
ada) dan selanjutnya diukur pada nilai subsequently at fair value with gains or
wajarnya dimana keuntungan atau kerugian losses being recognised as other
diakui sebagai pendapatan komprehensif comprehensive income,If a decrease in fair
lainnya, Jika penurunan dalam nilai wajar value of an available-for-sale financial
atas aset keuangan tersedia untuk dijual asset has been recognized in other
telah diakui dalam penghasilan comprehensive income and there is
komprehensif lain dan terdapat bukti objekif objective evidence that the asset is
bahwa aset tersebut mengalami penurunan impaired, the cumulative loss previously
nilai, maka kerugian kumulatif yang recognized in other comprehensive income
sebelumnya diakui dalam penghasilan is reclassified from equity to profit or loss
komprehensif lain direklasifikasi dari ekuitas as a reclassification adjustment even
ke laba rugi sebagai penyesuaian though the financial asset has not been
reklasifikasi meskipun aset keuangan discontinued. Interest income is calculated
tersebut belum dihentikan pengakuannya. using the effective interest method and
Pendapatan bunga dihitung menggunakan foreign currency gains or losses on
metode suku bunga efektif dan keuntungan monetary and foreign currency gains or
atau kerugian yang timbul akibat perubahan losses on monetary assets classified as
nilai tukar dari aset moneter yang available-for-sale are recognised as
diklasifikasikan sebagai kelompok tersedia profit/loss.
untuk dijual diakui sebagai laba/rugi.
Bank CIMB Niaga dan Entitas Anak Bank CIMB Niaga and Subsidiaries use
menggunakan akuntansi tanggal transaksi trade date accounting for regular way
untuk mencatat transaksi aset keuangan contracts when recording financial asset
yang lazim. Aset keuangan yang dialihkan transactions. Financial assets that are
kepada pihak ketiga tetapi tidak memenuhi transferred to a third party but not qualify for
syarat penghentian pengakuan (jika ada) derecognition (if any) are disclosed in the
diungkapkan di dalam catatan atas laporan consolidated financial statement as
keuangan konsolidasian sebagai ”Aset yang “Pledged assets”, if the transferee has the
dijaminkan”, jika pihak penerima memiliki right to sell or repledge them.
hak untuk menjual atau mentransfer kembali.
Kebijakan berlaku mulai tanggal 1 Januari Policy applicable from 1 January 2020
2020
Sejak tanggal 1 Januari 2020, Bank CIMB Niaga Starting 1 January 2020, Bank CIMB Niaga and
dan Entitas Anak mengklasifikasikan aset Subsidiaries classify its financial assets in
keuangannya dalam kategori (A) aset keuangan categories (A) financial assets measured at fair
yang diukur pada nilai wajar melalui laba rugi value through profit or loss (FVTPL), (B) financial
(FVTPL), (B) aset keuangan yang diukur pada assets measured at amortised cost, and (C)
biaya perolehan diamortisasi, dan (C) aset financial assets measured at fair value through
keuangan yang diukur pada nilai wajar melalui other comprehensive income (FVOCI). This
penghasilan komprehensif lain (FVOCI). classification depends on the business model of
Klasifikasi ini tergantung model bisnis dari obtaining the financial assets. Management
perolehan aset keuangan tersebut. Manajemen determines the classification of its financial
menentukan klasifikasi aset keuangan tersebut assets at the initial recognition.
pada saat awal pengakuannya.


Aset keuangan diklasifikasikan menjadi kategori Financial assets are classified into these
tersebut di atas berdasarkan model bisnis Bank categories based on the business model Bank
dan Entitas Anak untuk mengelola aset and Subsidiary’s for managing the financial
keuangan dan persyaratan kontraktual arus kas. assets and the contractual terms of the cash
Model bisnis merefleksikan bagaimana flows. The business model reflects how groups of
kelompok aset keuangan dikelola untuk financial assets are managed to achieve a
mencapai tujuan bisnis tertentu. particular business objective.
(A) Aset keuangan yang diukur pada nilai wajar (A) Financial assets measured at fair value
melalui laba rugi (FVTPL) through profit or loss (FVTPL)
Aset keuangan diklasifikasikan dalam Financial assets classified as fair value

kelompok diukur pada nilai wajar melalui through profit or loss if they are acquired or
laba rugi jika diperoleh atau dimiliki owned primarily for the purpose of selling
terutama untuk tujuan dijual atau dibeli or repurchasing in the near future or if they
kembali dalam waktu dekat atau jika are part of portfolio of certain financial
merupakan bagian dari portofolio instrumen instruments that are jointly managed and
keuangan tertentu yang dikelola bersama there is evidence of profit taking patterns in
dan terdapat bukti mengenai pola ambil the short term. Derivatives are also
untung dalam jangka pendek (short term categorised as fair value through profit or
profit taking) yang terkini. Derivatif juga loss, except for derivatives that are
dikategorikan dalam kelompok diukur pada designated and effective as hedging
nilai wajar melalui laba rugi, kecuali instruments.
derivatif yang ditetapkan dan efektif
sebagai instrumen lindung nilai.
Aset keuangan diukur pada nilai wajar Financial assets are measured at fair value
melalui laba rugi kecuali tes model bisnis through profit or loss except business
dan tes arus kas kontraktual menunjukkan model test and contractual cash flow test
bahwa aset keuangan tersebut masuk ke show that financial assets are included in
dalam klasifikasian yang diukur pada biaya the classification that are measured at
perolehan diamortisasi atau nilai wajar amortised cost or fair value through other
melalui penghasilan komprehensif lain. comprehensive income.
Instrumen keuangan yang dikelompokkan Financial instruments classified into this

ke dalam kategori ini diakui pada nilai category are recognised at fair value at
wajarnya pada saat pengakuan awal; biaya initial recognition; transaction costs (if any)
transaksi (jika ada) diakui secara langsung are recognised directly in the consolidated
ke dalam laporan laba/rugi konsolidasian. profit/loss. Gains and losses arising from
Keuntungan dan kerugian yang timbul dari changes in fair value and sale of financial
perubahan nilai wajar dan penjualan instruments are recognised in the
instrumen keuangan diakui di dalam consolidated profit/loss and are recorded
laporan laba/rugi konsolidasian dan dicatat as “Gains/(losses) from changes in fair
masing-masing sebagai “Keuntungan/ value of financial instruments” and
(kerugian) dari perubahan nilai wajar “Gains/(losses) from sales of financial
instrumen keuangan” dan “Keuntungan/ instruments”. Interest income from financial
(kerugian) dari penjualan instrumen instruments in the group measured at fair
keuangan”. Pendapatan bunga dari value through profit or loss is recorded as
instrumen keuangan dalam kelompok “Interest income”.
diukur pada nilai wajar melalui laba rugi
dicatat sebagai “Pendapatan bunga”.


(B) Aset keuangan yang diukur pada biaya (B) Financial assets measured at amortised
perolehan diamortisasi cost
Aset keuangan diukur pada biaya Financial assets measured at amortised
perolehan diamortisasi jika aset keuangan cost if the financial assets are managed in
dikelola dalam model bisnis yang bertujuan a business model that aims to have
untuk memiliki aset keuangan dalam financial assets in order to obtain
rangka mendapatkan arus kas kontraktual. contractual cash flows. Contractual cash
Arus kas kontraktual dari aset keuangan flow of the financial assets which on a
yang pada tanggal tertentu hanya berasal certain date solely payment from principal
dari pembayaran pokok dan bunga (SPPI) and interest payments (SPPI) of the
atas jumlah pokok terutang. principal outstanding.
Pada saat pengakuan awal, aset keuangan At initial recognition, financial assets
yang diukur pada biaya perolehan measured at amortised cost are
diamortisasi diakui pada nilai wajarnya recognised at fair value plus transaction
ditambah biaya transaksi (jika ada) dan costs (if any) and subsequently measured
selanjutnya diukur dengan menggunakan using the effective interest rate.
suku bunga efektif.
Biaya transaksi mencakup dan seluruh Transaction cost includes all fees and
imbalan/provisi dan bentuk lain yang provisions paid or received that are an
dibayarkan atau diterima yang merupakan integral part of the effective interest rate.
bagian tak terpisahkan dari suku bunga
efektif.
Tingkat suku bunga efektif adalah suku The effective interest rate is the interest
bunga yang secara tepat mendiskontokan rate that exactly discounts the estimated
estimasi arus kas di masa datang selama future cash flows through the expected life
perkiraan umur dari aset keuangan atau of the financial assets or financial liability
liabilitas keuangan (atau jika lebih tepat, (or, where appropriate a shorter period) to
digunakan periode yang lebih singkat) the net carrying amount at initial
untuk memperoleh nilai tercatat bersih recognition. When calculating the effective
pada saat pengakuan awal. Pada saat interest rate, Bank CIMB Niaga and
menghitung tingkat suku bunga efektif, Subsidiaries estimates future cash flows
Bank CIMB Niaga dan Entitas Anak considering all contractual terms of the
mengestimasi arus kas di masa datang financial instrument, but does not consider
dengan mempertimbangkan seluruh any future credit losses.
persyaratan kontraktual dalam instrumen
keuangan tersebut, namun tidak
mempertimbangkan kerugian kredit di
masa mendatang.
Pendapatan bunga dari aset keuangan Interest income from financial assets
yang diukur pada biaya perolehan measured at amortised cost is recorded in
diamortisasi dicatat dalam laporan laba/rugi the consolidated profit/loss and is
konsolidasian dan diakui sebagai recognised as “Interest income”.
“Pendapatan bunga”.
Ketika penurunan nilai terjadi, kerugian When an impairment occurs, an

penurunan nilai diakui sebagai pengurang impairment loss is recognised as a
dari nilai tercatat aset keuangan dan diakui deduction from the carrying value of
didalam laporan keuangan konsolidasian financial assets and is recognised in the
sebagai “Cadangan kerugian penurunan consolidated financial statements as
nilai”. “Allowance for impairment losses”.

Kebijakan berlaku mulai tanggal 1 Januari 2020 Policy applicable from 1 January 2020
(C) Aset keuangan yang diukur pada nilai wajar (C) Financial assets measured at fair value
melalui penghasilan komprehensif lain through other comprehensive income
(FVOCI) (FVOCI)
Aset keuangan yang diukur pada nilai wajar Financial assets measured at fair value
melalui penghasilan komprehensif lain through other comprehensive income are
merupakan aset keuangan dikelola dalam financial assets that are managed in a
model bisnis yang tujuannya akan terpenuhi business model whose objectives will be
dengan mendapatkan arus kas kontraktual fulfilled by obtaining contractual cash flows
dan menjual aset keuangan. Arus kas and selling financial assets. Cash flow
kontraktual dari aset keuangan yang pada contractual of financial assets which on a
tanggal tertentu hanya dari pembayaran certain date solely payment from principal
pokok dan bunga (SPPI) dari jumlah pokok and interest (SPPI) of the principal
terutang. outstanding.
Pada saat pengakuan awalnya, aset At initial recognition, financial instruments

keuangan yang diukur pada nilai wajar measured at fair value through other
melalui penghasilan komprehensif lain diakui comprehensive income are recognised at
pada nilai wajarnya ditambah biaya transaksi fair value plus transaction costs (if any)
(jika ada) dan selanjutnya diukur pada nilai and subsequently measured at fair value
wajarnya dimana keuntungan atau kerugian where gains or losses on changes in fair
atas perubahan nilai wajar, keuntungan atau value, gains or losses on foreign
kerugian atas selisih kurs, dan kerugian exchange, and impairment losses are
penurunan nilai, diakui sebagai penghasilan recognised as other comprehensive
komprehensif lain. income.
Kerugian kredit ekspektasian diakui sebagai Expected credit losses are recognised as
penambah/pengurang dari penghasilan addition/deduction to other comprehensive
komprehensif lainnya di dalam laporan income in the consolidated statement of
keuangan konsolidasian (tidak mengurangi financial statements (not reducing the
jumlah tercatat aset keuangan dalam laporan carrying amount of financial assets in the
keuangan konsolidasian). Pendapatan consolidated financial statements). Interest
bunga dihitung menggunakan metode suku income is calculated using the effective
bunga efektif. interest method.


(FVOCI) (lanjutan) (FVOCI) (continued)
Penilaian pembayaran pokok dan bunga Solely payments of principal and
semata (SPPI) interest (SPPI) assessment
Untuk tujuan penilaian ini, ‘pokok’ For the purposes of this assessment,
didefinisikan sebagai nilai wajar dari ‘principal’ is defined as the fair value of the
aset keuangan pada pengakuan awal. financial assets on initial recognition.
‘Bunga’ didefinisikan sebagai imbalan ‘Interest’ is defined as consideration for the
untuk nilai waktu atas uang, risiko time value of money, credit risk associated
kredit yang terkait dengan jumlah with the principal amount outstanding
pokok yang terutang selama periode during a particular period of time and for
waktu tertentu dan untuk risiko serta other basic lending risks and costs (e.g.
biaya pinjaman dasar lainnya liquidity risk and administrative costs), as
(misalnya risiko likuiditas dan biaya well as profit margin.
administrasi), termasuk marjin
keuntungan.
Dalam menilai apakah arus kas In assessing whether the contractual cash
kontraktual adalah SPPI, Bank CIMB flows are SPPI, Bank CIMB Niaga and
Niaga dan Entitas Anak Subsidiaries considers the contractual
mempertimbangkan ketentuan terms of the instrument. This includes
kontraktual instrumen tersebut. Hal ini assessing whether the financial asset
termasuk menilai apakah aset contains a contractual term that could
keuangan mengandung ketentuan change the timing or amount of contractual
kontraktual yang dapat mengubah cash flows such that it would not meet this
waktu atau jumlah arus kas kontraktual condition.
sehingga tidak memenuhi kondisi ini.
Dalam melakukan penilaian arus kas In making the assessment of contractual
kontraktual adalah SPPI, Bank CIMB cashflow are SPPI, Bank CIMB Niaga and
Niaga dan Entitas Anak Subsidiaries considers:
mempertimbangkan:
- Kejadian kontinjensi yang akan - Contingent events that would change

mengubah jumlah dan waktu dan the amount and timing of cash flows;
arus kas;
- Fitur leverage; - Leverage features;
- Persyaratan pelunasan dipercepat - Prepayment and extention terms;
dan perpanjangan fasilitas;
- Ketentuan yang membatasi klaim - Terms that limit Bank CIMB Niaga and
Bank CIMB Niaga dan Entitas Subsidiaries’ claim to cash flows from
Anak atas arus kas dari aset specified assets (e.g. non-recourse
tertentu (seperti pinjaman non- loans); and
recourse); dan - Features that modify consideration of
- Fitur yang memodifikasi imbalan the time value of money (e.g.
dari nilai waktu atas uang (seperti periodical reset of interest rates).
penetapan ulang suku bunga
berkala).


(FVOCI) (lanjutan) (FVOCI) (continued)
(iii) Penilaian model bisnis (iii) Business model assessment
Model bisnis mengacu pada bagaimana Business model referes to how financial
aset keuangan dikelola bersama untuk assets are managed together to
menghasilkan arus kas untuk Bank CIMB generate cash flows for Bank CIMB
Niaga dan Entitas Anak. Arus kas Niaga and Subsidiaries. This may be
mungkin dihasilkan dengan menerima collecting contractual cash flow, selling
arus kas kontraktual, menjual aset financial assets or both. Business
keuangan atau keduanya. Model bisnis models are determined at a level of
ditentukan pada tingkat agregasi di mana aggregation where groups of assets are
kelompok aset dikelola bersama untuk managed together to achieve a
mencapai tujuan tertentu dan tidak particular objective and do not depend
bergantung pada intensi manajemen on management’s intentions for
pada instrumen individual. individual instrument.
Bank CIMB Niaga dan Entitas Anak Bank CIMB Niaga and Subsidiaries
menilai model bisnis pada aset keuangan assesses the business model of
setidaknya pada tingkat lini bisnis atau financial assets at least at business line
dimana terdapat variasi mandat/tujuan level or where there are varying
dalam lini bisnis, pada lini bisnis produk mandates/objectives within a business
atau pada tingkat yang lebih granular line, at product business line or at a
(misalnya sub-portofolio atau sub-lini more granular (e.g. sub-portfolio or sub-
bisnis). business line).
Penentuan model bisnis dilakukan Business model determination are made

dengan mempertimbangkan semua bukti considering all relevant evidence that is
relevan yang tersedia pada tanggal available at the date of the assessment.
penilaian. Ini termasuk, tetapi tidak This includes, but not limited to:
terbatas pada:
- Bagaimana kinerja bisnis dan aset - How the performance of business and
keuangan yang ada di dalam unit bisnis the financial assets held within that
itu dievaluasi dan dilaporkan kepada business unit are evaluated and
manajemen. Tingkat pemisahan yang reported to management. The level of
diidentifikasi untuk klasifikasi PSAK 71 segregation identified for SFAS 71
harus konsisten dengan bagaimana classification should be consistent with
portofolio aset dipisahkan dan how asset portfolio are segregated
dilaporkan kepada manajemen; and reported to management;


(C) Aset keuangan yang diukur pada nilai wajar (C) Financial assets measured at fair value through
melalui penghasilan komprehensif lain other comprehensive income (FVOCI)
(FVOCI) (lanjutan) (continued)
(iii) Penilaian model bisnis (lanjutan) (iii) Business model assessment
(continued)
- Risiko yang mempengaruhi kinerja unit - The risk that affect the performance of the
bisnis dan aset keuangan yang dimiliki business units and the financial assets
dalam unit bisnis itu dan khususnya held within that business unit and in
bagaimana risiko itu dikelola; dan particular the way those risks are
- Bagaimana manajer unit bisnis managed; and
dikompensasi (misalnya, apakah - How managers of the business unit are
kompensasi didasarkan pada nilai wajar compensated (for example, whether
dari aset yang dikelola atau pada arus compensation is based on the fair value of
kas kontraktual yang dikumpulkan). the assets managed or on the contractual
cash flow collected).
Penentuan model bisnis dilakukan Business model determination are made on
berdasarkan skenario yang diperkirakan the basis of scenarios that Bank CIMB
akan terjadi oleh Bank CIMB Niaga dan Niaga and Subsidiaries reasonably expect
Entitas Anak dan tidak dalam kondisi sangat to occur and not under highly stressed or
tertekan atau ’kondisi terburuk’. Jika aset 'worst case' conditions. Where assets are
dijual dalam kondisi yang tidak diharapkan disposed of under condition that Bank CIMB
oleh Bank CIMB Niaga dan Entitas Anak Niaga and Subsidiaries did not reasonably
untuk berlaku ketika aset diakui, klasifikasi expect to prevail when the asset were
aset keuangan yang ada dalam portofolio recognised, the classification of existing
tidak disajikan secara tidak akurat, tetapi financial assets in the portfolio are not
kondisi tersebut harus dipertimbangkan rendered inaccurate, but the condition in
untuk aset yang diperoleh di masa question should be considered for any
mendatang. future assets acquired going forward.
(ii) Liabilitas keuangan (ii) Financial liabilities
2020
Bank CIMB Niaga dan Entitas Anak Bank CIMB Niaga and Subsidiaries classified its
mengklasifikasikan liabilitas keuangan dalam financial liabilities in the category of (A) financial
kategori (A) liabilitas keuangan yang diukur liabilities at fair value through profit or loss and (B)
pada nilai wajar melalui laba rugi dan (B) financial liabilities measured at amortised cost.
liabilitas keuangan yang diukur dengan biaya
perolehan diamortisasi.
(A) Liabilitas keuangan yang diukur pada nilai (A) Financial liabilities at fair value through profit or
wajar melalui laba rugi loss
Kategori ini terdiri dari dua subkategori: The category comprises two sub-categories:
liabilitas keuangan diklasifikasikan sebagai financial liabilities classified as held for trading
diperdagangkan dan liabilitas keuangan and financial liabilities designated by Bank
yang pada saat pengakuan awal telah CIMB Niaga and Subsidiaries as at fair value
ditetapkan oleh Bank CIMB Niaga dan through profit/loss upon initial recognition. At
Entitas Anak untuk diukur pada nilai wajar initial and subsequent recognition, is recorded
melalui laba/rugi.Pada saat pengakuan awal at its fair value.
dan selanjutnya dicatat pada nilai wajar.


(ii) Liabilitas keuangan (lanjutan) (ii) Financial liabilities (continued)
(A) Liabilitas keuangan yang diukur pada nilai (A) Financial liabilities at fair value through
wajar melalui laba rugi (lanjutan) profit or loss (continued)
Liabilitas keuangan diklasifikasikan sebagai A financial liability is classified as held for

diperdagangkan jika diperoleh terutama trading if it is acquired or incurred
untuk tujuan dijual atau dibeli kembali principally for the purpose of selling or
dalam waktu dekat, atau jika merupakan repurchasing it in the near term, or if it is
bagian dari portofolio instrumen keuangan part of a portfolio of identified financial
tertentu yang dikelola bersama dan instruments that are managed together
terdapat bukti mengenai pola ambil untung and there is evidence of a recent actual
dalam jangka pendek yang terkini. Derivatif pattern of short term profit taking.
diklasifikasikan sebagai instrumen Derivatives are also categorised as held
diperdagangkan kecuali ditetapkan dan for trading instrument unless they are
efektif sebagai instrumen lindung nilai. designated and effective as hedging
instruments.
Keuntungan kerugian yang timbul dari Gains and losses arising from changes in
perubahan nilai wajar liabilitas keuangan fair value of financial liabilities classified as
yang diklasifikasikan sebagai diperdagang- held for trading are recorded as profit/loss
kan dicatat pada laba rugi dan dilaporkan and are reported as “Gains/(losses) from
sebagai ”Keuntungan/(kerugian) dari changes in fair value of financial
perubahan nilai wajar instrumen keuangan”. instruments”. Interest expenses on
Beban bunga dari liabilitas keuangan yang financial liabilities held for trading are
diklasifikasikan sebagai diperdagangkan included in “Interest expenses”.
dicatat di dalam ”Beban bunga”.
Jika Bank CIMB Niaga dan Entitas Anak If Bank CIMB Niaga and Subsidiaries
pada pengakuan awal telah menetapkan designated certain debt securities upon
instrumen hutang tertentu sebagai nilai initial recognition as fair value through
wajar melalui laba rugi, maka selanjutnya profit/loss, then this designation cannot be
penetapan ini tidak dapat diubah. changed subsequently. According to SFAS
Berdasarkan PSAK 55 (Revisi 2014) 55 (Revised 2014), the use of fair value is
penggunaan nilai wajar diterapkan pada applied on the debt instrument which
instrumen hutang yang terdiri dari kontrak consists of host contract and embedded
utama dan derivatif melekat, jika tidak derivatves, if can not be separated.
dapat dipisahkan.
Perubahan nilai wajar terkait dengan Fair value changes relating to financial
liabilitas keuangan yang ditetapkan untuk liabilities designated at fair value through
diukur pada nilai wajar melalui laba rugi profit/loss are recognised in
diakui dalam ”Keuntungan/(kerugian) dari “Gains/(losses) from changes in fair value
perubahan nilai wajar instrumen of financial instruments”.
keuangan”.
(B) Liabilitas keuangan yang diukur dengan (B) Financial liabilities at amortised cost
biaya perolehan diamortisasi
Liabilitas keuangan yang tidak Financial liabilities that are not classified as
diklasifikasikan sebagai liabilitas keuangan fair value through profit or loss fall into this
yang diukur pada nilai wajar melalui category and are measured at amortised
laba/rugi dikategorikan dan diukur dengan cost.
biaya perolehan diamortisasi.

(ii) Liabilitas keuangan (lanjutan) (ii) Financial liabilities (continued)
(B) Liabilitas keuangan yang diukur dengan (B) Financial liabilities at amortised cost
biaya perolehan diamortisasi (lanjutan) (continued)
Pada saat pengakuan awal, liabilitas Financial liabilities at amortised cost are
keuangan yang diukur dengan biaya initially measured at fair value less
perolehan diamortisasi, diukur pada nilai transaction costs (if any).
wajar dikurangi biaya transaksi (jika ada).
Setelah pengakuan awal, Bank CIMB Niaga After initial recognition, Bank CIMB Niaga
dan Entitas Anak mengukur seluruh liabilitas and Subsidiaries measures all financial
keuangan yang diukur dengan biaya liabilities at amortised cost using effective
perolehan diamortisasi dengan interest rate method.
menggunakan metode suku bunga efektif.
Kebijakan berlaku mulai 1 Januari 2020 Policy applicable from 1 January 2020
Sejak tanggal 1 Januari 2020, Bank CIMB Niaga Starting 1 January 2020, Bank CIMB Niaga and
dan Entitas Anak mengklasifikasikan liabilitas Subsidiaries classify its financial liabilities in
keuangannya dalam kategori (A) liabilitas categories (A) financial liabilities at fair value
keuangan yang diukur pada nilai wajar melalui through profit or loss and (B) financial liabilities
laba rugi dan (B) liabilitas keuangan yang diukur measured at amortised cost.
dengan biaya perolehan diamortisasi.
Tidak terdapat banyak perbedaan antara There is not much difference between financial
kategori liabilitas keuangan menurut PSAK 71 liabilities category according to SFAS 71 and
dan PSAK 55. Untuk itu, pengungkapan SFAS 55. Thus, the disclosures regarding
mengenai kategori liabilitas keuangan menurut financial liabilities category according to PSAK 71
PSAK 71 tidak diungkapkan. is not presented.
Perbedaan signifikan antara PSAK 71 dan The significant difference between SFAS 71 and
PSAK 55 atas kategori liabilitas keuangan SFAS 55 regarding financial liabilities category is
adalah untuk kategori liabilitas keuangan yang on financial liabilities at fair value through profit or
diukur pada nilai wajar melalui laba rugi. loss category. According to SFAS 71, gains or
Menurut PSAK 71, keuntungan atau kerugian losses on financial liabilities at fair value through
atas liabilitas keuangan yang diukur pada nilai profit or loss are presented partially in other
wajar melalui laba rugi disajikan sebagian pada comprehensive income (the amount of change in
penghasilan komprehensif lain (jumlah yang fair value of the financial liability that is
berasal dari perubahan nilai wajar atas liabilitas attributable to changes in the credit risk of that
keuangan yang berkaitan dengan perubahan liability, which is determined as the amount that
atas risiko kredit dari liabilitas tersebut, yang is not attributable to changes in market
dipertimbangkan bahwa jumlah tersebut tidak conditions that give rise to market risk) and
berkaitan dengan kondisi pasar yang partially in profit/loss (the remaining amount of
menyebabkan timbulnya risiko pasar) dan change in the fair value of the liability). While
sebagian pada laba/rugi (sisa dari jumlah according to SFAS 55, all fair value changes are
perubahan nilai wajar atas liabilitas tersebut). presented in profit/loss.
Sedangkan menurut PSAK 55, semua
perubahan nilai wajar tersebut disajikan pada
laba/rugi.


(iv) Penentuan nilai wajar (iv) Determination of fair value
Nilai wajar adalah harga yang akan diterima Fair value is the price that would be
untuk menjual suatu aset atau harga yang akan received to sell an asset or paid to transfer
dibayar untuk mengalihkan suatu liabilitas dalam a liability in an orderly transaction between
transaksi teratur (orderly transaction) antara market participants at the measurement
pelaku pasar (market participants) pada tanggal date in the principal market or, in its
pengukuran di pasar utama atau, jika tidak absence, the market to which Bank CIMB
terdapat pasar utama, di pasar dimana Bank Niaga and Subsidiaries have access at that
CIMB Niaga dan Entitas Anak memiliki akses date, or uses valuation techniques or
pada tanggal tersebut, atau menggunakan internal measurement from observable data
teknik penilaian atau penilaian internal yang in respect of similar financial instruments
didasarkan pada data yang dapat diobservasi with selected model. The fair value of a
dari instrumen keuangan yang sama dengan liability reflects its non-performance risk.
model tertentu. Nilai wajar liabilitas
mencerminkan risiko wanprestasinya.
Jika tersedia, Bank CIMB Niaga dan Entitas When available, Bank CIMB Niaga and
Anak mengukur nilai wajar instrumen keuangan Subsidiaries measure the fair value of a
dengan menggunakan harga kuotasian di pasar financial instrument using the quoted price
aktif untuk instrumen tersebut. in an active market for that instrument.
Instrumen keuangan dianggap memiliki kuotasi A financial instrument is considered has

di pasar aktif, jika harga kuotasi tersedia quoted in an active market, if quoted prices
sewaktu-waktu dan dapat diperoleh secara rutin are readily and regularly available from an
dari bursa, pedagang efek (dealer), perantara exchange, dealer, broker, industry group,
efek (broker), kelompok industri, badan pricing service or regulatory agency, and
pengawas (pricing service atau regulatory those prices represent actual and regularly
agency), dan harga tersebut mencerminkan occurring market transactions on an arm’s
transaksi pasar yang aktual dan rutin dalam length basis. If the above criteria are not
suatu transaksi yang wajar. Jika kriteria di atas met, the market is regarded as being
tidak terpenuhi, maka pasar aktif dinyatakan inactive. Indications that a market is inactive
tidak tersedia. Indikasi-indikasi dari pasar tidak are when there is a wide bid-offer spread or
aktif adalah terdapat selisih yang besar antara significant increase in the bid-offer spread
harga penawaran dan permintaan atau kenaikan or there are few recent transactions.
signifikan dalam selisih harga penawaran dan
permintaan dan hanya terdapat beberapa
transaksi terkini.
Nilai wajar untuk instrumen keuangan yang The fair value of financial instruments traded
diperdagangkan di pasar aktif ditentukan in active markets is determined based on
berdasarkan nilai pasar yang berlaku pada quoted market prices at the statement of
tanggal laporan posisi keuangan. Termasuk di financial position date. This includes IDMA’s
dalamnya adalah nilai pasar dari IDMA (Interdealer Market Association) quoted
(Interdealer Market Association) atau harga market prices or broker’s quoted price from
yang diberikan oleh broker (quoted price) dari Bloomberg and Reuters on the statement of
Bloomberg dan Reuters pada tanggal laporan financial position date.
posisi keuangan.

(iv) Penentuan nilai wajar (lanjutan) (iv) Determination of fair value (continued)
Nilai wajar untuk semua instrumen keuangan For all other financial instruments, fair value is
lainnya ditentukan dengan menggunakan teknik determined using valuation techniques. In these
penilaian. Dengan teknik ini, nilai wajar techniques, fair values are estimated from
merupakan suatu estimasi yang dihasilkan dari observable data in respect of similar financial
data yang dapat diobservasi dari instrumen instruments, using models to estimate the
keuangan yang sama, menggunakan model- present value of expected future cash flows or
model untuk mendapatkan estimasi nilai kini dari other valuation techniques, using inputs existing
arus kas masa depan yang diharapkan atau at the dates of the consolidated statement of
financial position.
teknik penilaian lainnya menggunakan input
yang tersedia pada tanggal laporan posisi
keuangan konsolidasian.
Bank menggunakan beberapa teknik penilaian Bank uses widely recognised valuation models
yang digunakan secara umum untuk for determining fair values of non-standardised
menentukan nilai wajar dari instrumen keuangan financial instruments of lower complexity, such
dengan tingkat kompleksitas yang rendah, as currency options, interest rate swaps, and
seperti opsi mata uang, swap suku bunga dan currency swaps. For these financial instruments,
swap mata uang. Input yang digunakan dalam inputs into models are observable market data.
teknik penilaian untuk instrumen keuangan di
atas adalah data pasar yang dapat diobservasi.
Untuk instrumen yang lebih kompleks, Bank For more complex instruments, Bank CIMB
CIMB Niaga menggunakan model penilaian Niaga uses internally developed models, which
internal, yang pada umumnya berdasarkan are usually based on valuation methods and
teknik dan metode penilaian yang umumnya techniques generally recognised as standard
diakui sebagai standar industri. Model within the industry. Valuation models are used
penilaian terutama digunakan untuk menilai primarily to value derivatives contract
kontrak derivatif yang ditransaksikan melalui transacted in the over the counter (OTC)
pasar over the counter (OTC) dan instrumen market and other debt instruments for which
hutang lainnya yang pasarnya tidak aktif. Input markets were or have become illiquid. The
dari model ini tidak berasal dari data yang inputs to these models may not be observable
dapat diobservasi di pasar. market data.
Untuk instrumen keuangan yang tidak For financial instruments with no quoted market
mempunyai harga pasar, estimasi atas nilai price, a reasonable estimate of the fair value is
wajar ditetapkan dengan mengacu pada nilai determined by reference to the current market
wajar instrumen lain yang secara substansi value of another instrument which substantially
memiliki karakteristik yang sama atau dihitung have the same characteristic or calculated
berdasarkan ekspektasi arus kas yang based on expected cash flows discounted by
didiskonto dengan tingkat suku bunga pasar relevant market rates.
yang relevan.
Structured interest rate derivatives ditentukan Structured interest rate derivatives are
menggunakan option pricing models (sebagai measured using appropriate option pricing
contoh, the Black-Scholes model). models (for example, the Black-Scholes model).

(iv) Penentuan nilai wajar (lanjutan) (iv) Determination of fair value (continued)
Pada saat nilai wajar dari unlisted equity In cases when the fair value of unlisted equity
instruments tidak dapat ditentukan dengan instruments cannot be determined reliably, the
handal, instrumen tersebut dinilai sebesar biaya instruments are carried at cost less impairment.
perolehan dikurangi penurunan nilai. Nilai wajar The fair value for loans and receivables as well
atas kredit yang diberikan dan piutang, serta as liabilities to banks and customers are
liabilitas kepada bank dan nasabah ditentukan determined using a present value model on the
menggunakan nilai kini berdasarkan arus kas basis of contractually agreed cash flows, taking
kontraktual dengan mempertimbangkan kualitas into account credit quality, liquidity, and costs.
kredit, likuiditas, dan biaya.
Bukti terbaik dari nilai wajar pada saat The best evidence of fair value at initial
pengakuan awal adalah harga transaksinya recognition is the transaction price (that is, the
(yaitu nilai wajar pembayaran yang diserahkan fair value of the consideration given or received),
atau diterima), kecuali nilai wajar dari instrumen unless the fair value of that instrument is
tersebut dapat dibuktikan dengan perbandingan evidenced by comparison with other observable
transaksi untuk instrumen yang sama di pasar current market transactions in the same
terkini yang dapat diobservasi (yaitu yang tanpa instrument (that is, without modification or re-
modifikasi atau re-packaging) atau berdasarkan packaging) or based on a valuation technique
teknik penilaian dimana variabelnya hanya data whose variables include only data from
dari pasar yang dapat diobservasi. observable markets.
Untuk instrumen keuangan yang diukur For financial instruments that measured at fair
menggunakan nilai wajar, Bank CIMB Niaga dan value, Bank CIMB Niaga and Subsidiaries use
Entitas Anak menggunakan hirarki nilai wajar the fair value hierarchy which reflect the
yang mencerminkan signifikasi input yang significance of input used in the measurement
digunakan dalam melakukan pengukuran (level 1, 2, and 3) as explained in Notes 52e.
(tingkat 1, 2, dan 3) seperti dijelaskan pada
Catatan 52e.
(v) Penghentian pengakuan (v) Derecognition
Penghentian pengakuan aset keuangan Financial assets are derecognised when the
dilakukan ketika hak kontraktual atas arus kas contractual rights to receive the cash flows from
yang berasal dari aset keuangan tersebut these financial assets have ceased to exists or
berakhir, atau ketika aset keuangan tersebut the financial assets have been transferred and
telah ditransfer dan secara substansial seluruh substantially all the risks and rewards of
risiko dan manfaat atas kepemilikan aset ownership of the assets are also transferred
tersebut telah ditransfer (jika, secara substansial (that is, if substantially all the risks and rewards
seluruh risiko dan manfaat tidak ditransfer, maka have not been transferred, then Bank CIMB
Bank CIMB Niaga dan Entitas Anak melakukan Niaga and Subsidiaries test control to ensure
evaluasi untuk memastikan keterlibatan that continuing involvement on the basis of any
berkelanjutan atas kendali yang masih dimiliki retained powers of control does not prevent
tidak mencegah penghentian pengakuan). derecognition). Financial liabilities are
Liabilitas keuangan dihentikan pengakuannya derecognised when they have been redeemed,
ketika liabilitas telah dilepaskan atau dibatalkan or cancelled, or otherwise extinguished.
atau kadaluwarsa.


g. Klasifikasi dan reklasifikasi instrumen keuangan g. Classification and reclassification of financial
instruments
Klasifikasi aset dan liabilitas keuangan Classification of financial assets and liabilities
Kebijakan berlaku sebelum tanggal 1 Januari 2020 Policy applicable before 1 January 2020
Bank CIMB Niaga dan Entitas Anak Bank CIMB Niaga and Subsidiaries classifies the
mengklasifikasikan instrumen keuangan ke dalam financial instruments into classes that reflects the
klasifikasi tertentu yang mencerminkan sifat dari nature of information and take into account the
informasi dan mempertimbangkan karakteristik dari characteristic of those financial instruments. The
instrumen keuangan tersebut. Klasifikasi ini dapat classification can be seen in the table below:
dilihat pada tabel berikut:
Golongan (ditentukan oleh Bank CIMB Niaga

Kategori yang didefinisikan oleh PSAK 55 (Revisi dan Entitas Anak)/ Sub golongan/Sub-classes
2014)/ Class (as determined by Bank CIMB Niaga and
Category as defined by SFAS 55 (Revised 2014) Subsidiaries)
Efek-efek/Marketable securities
Aset keuangan yang diukur
pada nilai wajar melalui Obligasi Pemerintah/Government Bonds
Aset keuangan dalam kelompok
laba/rugi/Financial assets at
diperdagangkan/Financial assets held for trading Tagihan derivatif - Tidak terkait lindung
measured fair value through
profit/loss nilai/Derivative receivables – Non-hedging
related
Giro pada Bank Indonesia/Current accounts with Bank Indonesia
Giro pada bank lain/Current accounts with other banks
Penempatan pada bank lain dan Bank Indonesia/Placements with other banks and Bank
Indonesia
Kredit yang diberikan/Loans
Kredit yang diberikan dan Efek-efek yang dibeli dengan janji dijual kembali/Securities purchased under resale agreements
piutang/Loans and receivables
Piutang pembiayaan konsumen/Consumer financing receivables
Piutang sewa pembiayaan/Financial lease receivables
Aset keuangan/
Financial assets Tagihan akseptasi/Acceptance receivables
Pendapatan bunga yang masih akan diterima/Accrued interest income
Aset lain-lain/Other assets
Aset keuangan dimiliki hingga Efek-efek/Marketable securities
jatuh tempo/Held-to-maturity
financial assets Obligasi Pemerintah/Government Bonds
Aset keuangan tersedia untuk
dijual/Available-for-sale Obligasi Pemerintah/Government Bonds
financial assets
Penyertaan/Investments
Tagihan derivatif - Terkait lindung nilai
Lindung nilai atas nilai wajar/Hedging instruments in atas nilai wajar/Derivative receivables -
fair value hedges Hedging instruments in fair value
Derivatif lindung nilai/Hedging hedges related
derivatives Tagihan derivatif - Terkait lindung nilai
Lindung nilai atas arus kas/Hedging instruments in atas arus kas/Derivative receivables -
cash flow hedges Hedging instruments in cash flow
hedges related


(lanjutan) instruments (continued)
Klasifikasi aset dan liabilitas keuangan (lanjutan) Classification of financial assets and liabilities
(continued)
Kategori yang didefinisikan oleh PSAK 55 Golongan (ditentukan oleh Bank CIMB Niaga dan
(Revisi 2014)/ Entitas Anak)/ Sub golongan/Sub-classes
Category as defined by SFAS 55 (Revised Class (as determined by Bank CIMB Niaga and
2014) Subsidiaries)
Liabilitas keuangan
yang diukur pada nilai Liabilitas keuangan dalam kelompok diperdagangkan (Liabilitas derivatif - bukan lindung
wajar melalui nilai)/Financial liabilities held for trading (Derivative payables – non-hedging)
laba/rugi/Financial
liabilities measured at Pinjaman subordinasi – Porsi perubahan nilai wajar dari liabilitas yang dilindung nilai yang
fair value through diatribusikan risiko yang dilindung nilai/Subordinated loan – Portion of changes in fair value of the
profit/loss hedged liability that are attributable to the hedge risk
Liabilitas segera/Obligations due immediately
Simpanan dari nasabah/Deposits from customers
Simpanan dari bank lain/Deposits from other banks

Liabilitas keuangan
yang diukur dengan Efek-efek yang dijual dengan janji dibeli kembali/Securities sold under repurchase agreement
biaya perolehan
Liabilitas keuangan/ diamortisasi/Financial
Financial liabilities liabilities measured at Liabilitas akseptasi/Acceptance payables
amortised cost
Efek-efek yang diterbitkan/Marketable securities issued
Pinjaman yang diterima/Borrowings
Beban yang masih harus dibayar dan liabilitas lain-lain/Accruals and other liabilities
Pinjaman subordinasi/Subordinated loans
Liabilitas derivatif - Terkait lindung nilai
Lindung nilai atas nilai wajar/Hedging instruments in fair atas nilai wajar/Derivative payables -
value hedges Hedging instruments in fair value
Derivatif lindung hedges related
nilai/Hedging
derivatives Liabilitas derivatif - Terkait lindung nilai
Lindung nilai atas arus kas/Hedging instruments in cash atas arus kas/Derivative payables -
flow hedges Hedging instruments in cash flow
hedges related
Komitmen dan
kontijensi instrumen Fasilitas kredit yang diberikan yang belum digunakan/Unused loan facilities granted
keuangan/
Commitment and
contingency financial Irrevocable letters of credit yang masih berjalan/Outstanding irrevocable letters of credit
instruments


(continued)
Golongan (ditentukan oleh Bank CIMB Niaga

Kategori yang didefinisikan oleh PSAK 71/ dan Entitas Anak)/
Sub golongan/Sub-classes
Category as defined by SFAS 71 Class (as determined by Bank CIMB Niaga and
Subsidiaries)
pada nilai wajar melalui
laba/rugi/Financial assets Obligasi Pemerintah/Government Bonds
measured at fair value through
profit or loss Tagihan derivatif - Tidak terkait lindung nilai/Derivative receivables – Non-hedging related
Giro pada Bank Indonesia/Current accounts with Bank Indonesia
Giro pada bank lain/Current accounts with other banks
Penempatan pada bank lain dan Bank Indonesia/Placements with other banks and Bank
Indonesia
Kredit yang diberikan/Loans

Aset keuangan yang diukur Efek-efek yang dibeli dengan janji dijual kembali/Securities purchased under resale agreements
dengan harga perolehan
diamortisasi/Financial assets Piutang pembiayaan konsumen/Consumer financing receivables
measured at amortised cost
Piutang sewa pembiayaan/Financial lease receivables
Tagihan akseptasi/Acceptance receivables

Aset keuangan/
Financial assets Pendapatan bunga yang masih akan diterima/Accrued interest income
Aset lain-lain/Other assets
Obligasi Pemerintah/Government Bonds

pada nilai wajar melalui Efek-efek/Marketable securities
penghasilan komprehensif lain
Obligasi Pemerintah/Government Bonds
/Financial assets measured at
fair value through other Penyertaan/Investments
comprehensive income
Tagihan derivatif - Terkait lindung nilai
Lindung nilai atas nilai wajar/Hedging instruments in atas nilai wajar/Derivative receivables -
fair value hedges Hedging instruments in fair value
Derivatif lindung nilai/Hedging hedges related
derivatives Tagihan derivatif - Terkait lindung nilai
Lindung nilai atas arus kas/Hedging instruments in atas arus kas/Derivative receivables -
cash flow hedges Hedging instruments in cash flow
hedges related


(continued)
Kebijakan berlaku mulai tanggal 1 Januari 2020 Policy applicable from 1 January 2020 (continued)
(lanjutan)
Golongan (ditentukan oleh Bank CIMB Niaga dan

Kategori yang didefinisikan oleh PSAK 71/ Entitas Anak)/
Sub golongan/Sub-classes
Category as defined by SFAS 71 Class (as determined by Bank CIMB Niaga and
Subsidiaries)
Liabilitas keuangan Liabilitas keuangan yang diukur pada nilai wajar melalui laba rugi (Liabilitas derivatif - bukan lindung
yang diukur pada nilai nilai)/Financial liabilities measured at fair value through profit or loss (Derivative payables – non-
wajar melalui hedging)
laba/rugi/Financial
liabilities measured at Pinjaman subordinasi – Porsi perubahan nilai wajar dari liabilitas yang dilindung nilai yang
fair value through diatribusikan risiko yang dilindung nilai/Subordinated loan – Portion of changes in fair value of the
profit or loss hedged liability that are attributable to the hedge risk
Liabilitas segera/Obligations due immediately
Simpanan dari nasabah/Deposits from customers
Simpanan dari bank lain/Deposits from other banks
Liabilitas keuangan
yang diukur dengan Efek-efek yang dijual dengan janji dibeli kembali/Securities sold under repurchase agreement
Liabilitas keuangan/ biaya perolehan
Financial liabilities diamortisasi/Financial Liabilitas akseptasi/Acceptance payables
liabilities measured at
amortised cost Efek-efek yang diterbitkan/Marketable securities issued
Pinjaman yang diterima/Borrowings
Beban yang masih harus dibayar dan liabilitas lain-lain/Accruals and other liabilities
Pinjaman subordinasi/Subordinated loans
Liabilitas derivatif - Terkait lindung nilai

Lindung nilai atas nilai wajar/Hedging instruments in fair atas nilai wajar/Derivative payables -
value hedges Hedging instruments in fair value
Derivatif lindung hedges related
nilai/Hedging
derivatives Liabilitas derivatif - Terkait lindung nilai
Lindung nilai atas arus kas/Hedging instruments in cash atas arus kas/Derivative payables -
flow hedges Hedging instruments in cash flow
hedges related
Komitmen dan
kontijensi instrumen Fasilitas kredit yang diberikan yang belum digunakan/Unused loan facilities granted
keuangan/
Commitment and
contingency financial Irrevocable letters of credit yang masih berjalan/Outstanding irrevocable letters of credit
instruments


Reklasifikasi aset keuangan Reclassification of financial assets
Aset keuangan yang tidak lagi dimiliki untuk tujuan Financial assets that are no longer held for the
penjualan atau pembelian kembali aset keuangan purpose of selling or repurchasing in the near term
dalam waktu dekat (jika aset keuangan tidak (and have not been required to be classified as held
disyaratkan untuk diklasifikasikan sebagai for trading at initial recognition) could be reclassified
diperdagangkan pada saat pengakuan awal) dapat as loans and receivables if they meet the definition
direklasifikasikan ke pinjaman yang diberikan dan of loans and receivables and the entity has the
piutang jika memenuhi definisi pinjaman yang intention and ability to hold the financial assets for
diberikan dan piutang jika entitas memiliki intensi dan foreseeable future or until maturity date.
kemampuan memiliki aset keuangan untuk masa
mendatang yang dapat diperkirakan atau hingga jatuh
tempo.
Bank CIMB Niaga dan Entitas Anak tidak boleh Bank CIMB Niaga and Subsidiaries shall not classify
mengklasifikasikan aset keuangan sebagai investasi any financial assets as held-to-maturity, if the entity
dimiliki hingga jatuh tempo, jika dalam tahun berjalan has, during the current financial year or during the
atau dalam kurun waktu dua tahun sebelumnya, telah two preceding financial years, sold or reclassified
menjual atau mereklasifikasi investasi dimiliki hingga more than an insignificant amount of held-to-maturity
jatuh tempo dalam jumlah yang lebih dari jumlah yang investments before maturity (more than insignificant
tidak signifikan sebelum jatuh tempo (lebih dari in relation to the total amount of held-to-maturity
jumlah yang tidak signifikan dibandingkan dengan investments) other than sales or reclassification that:
jumlah nilai investasi dimiliki hingga jatuh tempo),
kecuali penjualan atau reklasifikasi tersebut:
a. dilakukan ketika aset sudah mendekati jatuh a. are so close to maturity or the financial assets
tempo atau tanggal pembelian kembali dimana call date that changes in the market rate of
perubahan suku bunga tidak akan berpengaruh interest would not have significant effect on the
secara signifikan terhadap nilai wajar aset financial asset’s fair value;
keuangan tersebut;
b. terjadi setelah Bank CIMB Niaga dan Entitas b. occurs after Bank CIMB Niaga and Subsidiaries
Anak telah memperoleh secara substansial have collected substantially all of the financial
seluruh jumlah pokok aset keuangan tersebut assets original principal through scheduled
sesuai jadwal pembayaran atau Bank CIMB payments or Bank CIMB Niaga and
Niaga dan Entitas Anak telah memperoleh Subsidiaries have received the early
pelunasan dipercepat; atau repayments; or
c. terkait dengan kejadian tertentu yang berada c. are attributable to an isolated event that is
diluar kendali Bank CIMB Niaga dan Entitas beyond the entity’s control, is non-recurring and
Anak, tidak berulang, dan tidak dapat diantisipasi could not have been reasonably anticipated by
secara wajar oleh Bank CIMB Niaga dan Entitas Bank CIMB Niaga and Subsidiaries.
Anak.
Reklasifikasi aset keuangan dari kelompok dimiliki Reclassification of financial assets from held-to-
hingga jatuh tempo ke kelompok tersedia untuk dijual maturity classification to available-for-sale is
dicatat sebesar nilai wajarnya. Keuntungan atau recorded at fair value. The unrealised gains or
kerugian yang direalisasi tetap dilaporkan dalam losses are recorded in the equity section until the
komponen ekuitas sampai aset keuangan tersebut financial assets is derecognised, at which time the
dihentikan pengakuannya, dan pada saat itu, cumulative gain or loss previously recognised in
keuntungan atau kerugian kumulatif yang equity shall be recognised as profit/loss.
sebelumnya diakui dalam ekuitas harus diakui
sebagai laba/rugi.


Reklasifikasi aset keuangan (lanjutan) Reclassification of financial assets (continued)
Reklasifikasi aset keuangan dari kelompok tersedia Reclassification of financial assets from available-
untuk dijual ke kelompok dimiliki hingga jatuh tempo for-sale to held-to-maturity classification is recorded
dicatat pada nilai tercatat. Akumulasi keuntungan at carrying amount. The cumulative of unrealised
atau kerugian yang belum direalisasi yang telah gains or losses that has been recognised in other
diakui pada pendapatan komprehensif lainnya harus comprehensive income is amortised to profit or loss
diamortisasi ke laba rugi menggunakan suku bunga using effective interest rate up to the maturity date of
efektif sampai dengan tanggal jatuh tempo instumen that instrument. Difference between the new
tersebut. Perbedaan antara biaya perolehan amortised cost as at reclassification date and
diamortisasi yang baru pada saat reklasifikasi dan nominal amount as at maturity date is also amortised
jumlah nominal pada saat jatuh tempo juga over the remaining life until maturity using the
diamortisasi selama sisa umur aset keuangan effective interest rate, similar to the amortisation of a
menggunakan suku bunga efektif serupa dengan premium and a discount.
amortisasi yang dilakukan terhadap premi atau
diskonto.
Bank CIMB Niaga dan Entitas Anak diperkenankan Bank CIMB Niaga and Subsidiaries are permitted to
untuk melakukan reklasifikasi atas aset keuangan reclassify its financial assets if Bank CIMB Niaga
yang dimiliki jika Bank CIMB Niaga dan Entitas Anak and Subsidiaries change its business model for
mengubah model bisnis untuk pengelolaan aset managing financial assets while reclassification for
keuangan sedangkan reklasifikasi untuk liabilitas financial liabilities is not permitted.
keuangan tidak diperkenankan.
Perubahan model bisnis sifatnya harus berdampak Changes in business models must have a significant
secara signifikan terhadap kegiatan operasional Bank impact on Bank CIMB Niaga and Subsidiaries’
CIMB Niaga dan Entitas Anak seperti memperoleh, operational activities such as obtaining, releasing or
melepaskan, atau mengakhiri suatu lini bisnis. terminating a business line.
Bank CIMB Niaga dan Entitas Anak akan
mereklasifikasi seluruh aset keuangan yang terkena Bank CIMB Niaga and Subsidiaries will reclassify
dampak dari perubahan model bisnis. Perubahan financial assets affected by changes in business
tujuan model bisnis Bank CIMB Niaga dan Entitas models. Changes in Bank CIMB Niaga and
Anak harus berdampak sebelum tanggal reklasifikasi. Subsidiaries’ business model objectives must have
an impact before the reclassification date.
Yang bukan merupakan perubahan model bisnis The followings are not a change in business model:
adalah:
- perubahan intensi berkaitan dengan aset - changes in intention relating to certain financial
keuangan tertentu (bahkan dalam situasi assets (even in situations significant changes in
perubahan signifikan dalam kondisi pasar); market conditions);
- hilangnya sementara pasar tertentu untuk aset - temporary loss of certain markets for financial
keuangan; dan assets; and
- pengalihan aset keuangan antara bagian dari - transfer of financial assets between parts of Bank
Bank CIMB Niaga dan Entitas Anak dengan CIMB Niaga and Subsidiaries with different
model bisnis berbeda. business models.


Kebijakan berlaku mulai 1 Januari 2020 (lanjutan) Policy applicable from 1 January 2020 (continued)
Bank CIMB Niaga dan Entitas Anak menerapkan Bank CIMB Niaga and Subsidiaries applies a
reklasifikasi secara prospektif dari tanggal prospective reclassification of the date of the
reklasifikasi. Bank CIMB Niaga dan Entitas Anak tidak reclassification. Bank CIMB Niaga and Subsidiaries
menyajikan kembali keuntungan, kerugian (termasuk does not restate profits, losses (including impairment
keuntungan atau kerugian penurunan nilai), atau profit or loss), or interest recognised earlier.
bunga yang diakui sebelumnya.
Reklasifikasi aset keuangan dari kategori pengukuran Reclassification of financial asset from amortised cost
biaya perolehan diamortisasi menjadi kategori to fair value through profit or loss, the fair value is
pengukuran nilai wajar melalui laba rugi, nilai wajarnya measured on the date of reclassification. The gains or
diukur pada tanggal reklasifikasi. Keuntungan atau losses arising from the difference between the prior
kerugian yang timbul dari selisih antara biaya amortised cost and fair value of financial assets are
perolehan diamortisasi sebelumnya dan nilai wajar recognised in profit/loss.
aset keuangan diakui dalam laba/rugi.
Reklasifikasi aset keuangan dari kategori pengukuran Reclassification of financial assets from the fair value
nilai wajar melalui laba rugi menjadi kategori through profit or loss to the amortised cost, the fair
pengukuran biaya perolehan diamortisasi, nilai wajar value on the reclassification date becomes the new
pada tanggal reklasifikasi menjadi jumlah tercatat gross recorded amount. The effective interest rate is
bruto yang baru. Suku bunga efektif dihitung sebagai calculated as the fair value basis at the date of
basis nilai wajar saat tanggal reklasifikasi. reclassification.
Reklasifikasi aset keuangan dari kategori pengukuran Reclassification financial assets of from amortised
biaya perolehan diamortisasi menjadi kategori cost to fair value through other comprehensive
pengukuran nilai wajar melalui penghasilan income, the fair value is measured on the date of
komprehensif lain, nilai wajarnya diukur pada tanggal reclassification. The gains or losses arising from the
reklasifikasi. Keuntungan atau kerugian yang timbul difference between the previous amortised cost and
dari selisih antara biaya perolehan diamortisasi the fair value of the financial assets are recognised in
sebelumnya dan nilai wajar aset keuangan diakui other comprehensive income. Effective interest rates
dalam penghasilan komprehensif lain. Suku bunga and expected impairment loss measurements are not
efektif dan pengukuran kerugian penurunan nilai adjusted as a result of reclassification.
ekspektasian tidak disesuaikan sebagai akibat dari
reklasifikasi.
Reklasifikasi aset keuangan dari kategori pengukuran Reclassification of financial assets from fair value
nilai wajar melalui penghasilan komprehensif lain through other comprehensive income to amortised
menjadi kategori pengukuran biaya perolehan cost, the financial asset is reclassified at fair value on
diamortisasi, aset keuangan direklasifikasi pada nilai the date of the reclassification. However, cumulative
wajarnya pada tanggal reklasifikasi. Akan tetapi gains or losses previously recognised in other
keuntungan atau kerugian kumulatif yang sebelumnya comprehensive income are removed from equity and
diakui dalam penghasilan komprehensif lain dihapus adjusted against the fair value of financial assets on
dari ekuitas dan disesuaikan terhadap nilai wajar aset the date of reclassification. Difference between fair
keuangan pada tanggal reklasifikasi. Selisih antara value on the date of reclassification and par value
nilai wajar aset keuangan pada tanggal reklasifikasi recorded as premium/discount and amortised starting
dengan nilai par dicatat sebagai premium/diskonto from the date of reclassification until maturity date of
dan diamortisasi mulai dari tanggal reklasifikasi hingga that financial asset. Effective interest rates and
tanggal jatuh tempo aset keuangan tersebut. Suku expected impairment loss measurements are not
bunga efektif dan pengukuran kerugian penurunan adjusted as a result of reclassification.
nilai ekspektasian tidak disesuaikan sebagai akibat
dari reklasifikasi.


Reklasifikasi aset keuangan dari kategori pengukuran Reclassification financial asset from fair value
nilai wajar melalui laba rugi menjadi kategori through profit or loss to fair value through other
pengukuran nilai wajar melalui penghasilan comprehensive income, fair value on the date of
komprehensif lain, nilai wajar pada tanggal reclassification to be new carrying value. Cumulative
reklasifikasi menjadi nilai tercatat yang baru. gains or losses previously recognised in profit or loss
Keuntungan atau kerugian kumulatif yang sebelumnya not reclassified to other comprehensive income.
diakui pada laba rugi tidak direklasifikasi ke
penghasilan komprehensif lain.
Reklasifikasi aset keuangan dari kategori pengukuran Reclassification of financial assets from fair value
nilai wajar melalui penghasilan komprehensif lain through other comprehensive income to fair value
menjadi kategori pengukuran nilai wajar melalui laba through profit or loss, fair value on the date of
rugi, nilai wajar pada tanggal reklasifikasi menjadi nilai reclassification is become the new carrying value.
tercatat yang baru. Keuntungan atau kerugian Cumulative gains or losses previously recognised in
kumulatif yang sebelumnya diakui di penghasilan other comprehensive income are reclassified from
komprehensif lain direklasifikasi dari ekuitas ke equity to profit/loss as a reclassification adjustment.
laba/rugi sebagai penyesuaian reklasifikasi.
Saling hapus instrumen keuangan Off-setting financial instruments
Aset keuangan dan liabilitas keuangan Financial assets and liabilities are offset and the net
disalinghapuskan dan jumlah netonya dilaporkan pada amount is reported in the consolidated statements of
laporan posisi keuangan konsolidasian ketika terdapat financial position when there is a legally enforceable
hak yang berkekuatan hukum untuk melakukan saling right to offset the recognised amounts and there is an
hapus atas jumlah yang telah diakui tersebut dan intention to settle on a net basis or realise the asset
adanya niat untuk menyelesaikan secara neto, atau and settle the liability simultaneously.
untuk merealisasikan aset dan menyelesaikan liabilitas
secara bersamaan.
Hak saling hapus tidak kontinjen atas peristiwa di The legally enforceable right must not be contingent
masa depan dan dapat dipaksakan secara hukum on future events and must be enforceable in the
dalam situasi bisnis yang normal dan dalam peristiwa normal course of business and in the event of default,
gagal bayar, atau peristiwa kepailitan atau insolvency or bankcrupty of the Bank and
kebangkrutan Bank dan Entitas Anak atau pihak Subsidiaries or the counterparty.
lawan.


h. Penurunan nilai dari aset keuangan h. Impairment of financial assets
(A) Aset keuangan yang dicatat berdasarkan biaya (A) Financial assets carried at amortised cost
perolehan diamortisasi
Pada setiap tanggal laporan posisi keuangan, Bank CIMB Niaga and Subsidiaries assesses at
Bank CIMB Niaga dan Entitas Anak each reporting date whether there is an objective
mengevaluasi apakah terdapat bukti objektif evidence that a financial asset or group of
bahwa aset keuangan atau kelompok aset financial assets is impaired. A financial asset or a
mengalami penurunan nilai. Aset keuangan atau group of financial assets is impaired and
kelompok aset diturunkan nilainya, jika dan hanya impairment losses are incurred, only and if only,
jika, terdapat bukti yang objektif mengenai there is objective evidence of impairment as a
penurunan nilai tersebut sebagai akibat dari satu result of one or more events that occurred after
atau lebih peristiwa yang terjadi setelah the initial recognition of the asset (a “loss event”),
pengakuan awal aset tersebut (peristiwa yang and that loss event (or events) has an impact on
merugikan), dan peristiwa yang merugikan the estimated future cash flows of the financial
tersebut berdampak pada estimasi arus kas masa asset or group of financial assets that can be
depan atas aset keuangan atau kelompok aset reliably estimated.
keuangan yang dapat diestimasi secara handal.
Kriteria yang digunakan oleh Bank CIMB Niaga The criteria that Bank CIMB Niaga and
dan Entitas Anak untuk menentukan bukti objektif Subsidiaries uses to determine that there is
dari kerugian penurunan nilai diantaranya adalah: objective evidence of impairment include:
a. kesulitan keuangan signifikan yang dialami a. significant financial difficulty of the issuer or
pihak penerbit atau peminjam; obligor;
b. pelanggaran kontrak, terjadinya wanprestasi b. a breach of contract, default or delinquency
atau tunggakan pembayaran pokok atau in principal or interest payments;
bunga;
c. data yang dapat diobservasi mengindikasikan c. observable data indicating that there is a
adanya penurunan yang dapat diukur atas measurable decrease in the estimated future
estimasi arus kas masa datang dari kelompok cash flows from a portfolio of financial assets
aset keuangan sejak pengakuan awal aset since the initial recognition of those assets,
dimaksud, meskipun penurunannya belum although the decrease cannot yet be
dapat diidentifikasi terhadap aset keuangan identified with the individual financial assets
secara individual dalam kelompok aset in the portfolio, including adverse changes in
tersebut, termasuk memburuknya status the payment status of borrowers in the
pembayaran pihak peminjam dalam kelompok portfolio;
tersebut;
d. hilangnya pasar aktif dari aset keuangan d. the disappearance of an active market for
akibat kesulitan keuangan; atau that financial asset because of financial
difficulties;
e. pihak pemberi pinjaman, dengan alasan e. the lenders, for economic or legal reasons
ekonomi atau hukum sehubungan dengan relating to the borrower’s financial difficulty,
kesulitan keuangan yang dialami pihak granting to the borrower a concession that
peminjam, memberikan keringanan pada the lender would not otherwise consider; or
pihak peminjam yang tidak mungkin diberikan
jika pihak peminjam tidak mengalami
kesulitan; atau
f. terdapat kemungkinan bahwa pihak peminjam f. it becoming probable that the borrower will
akan dinyatakan pailit atau melakukan enter bankruptcy or other financial
reorganisasi keuangan lainnya. reorganisation.

h. Penurunan nilai dari aset keuangan (lanjutan) h. Impairment of financial assets (continued)
perolehan diamortisasi (lanjutan) (continued)
Estimasi periode antara peristiwa kerugian dan The estimated period between a loss occurrence
identifikasinya ditentukan oleh manajemen untuk and its identification is determined by
setiap portofolio yang diidentifikasi. management for each identified portfolio.
Pada awalnya Bank CIMB Niaga dan Entitas Initially Bank CIMB Niaga and Subsidiaries
Anak menentukan apakah terdapat bukti objektif assesses whether objective evidence of
kerugian penurunan nilai seperti tersebut di atas impairment for financial asset as individually
secara individual. Penilaian individu dilakukan exists as described above. Individual
atas aset keuangan yang signifikan yang akan assessment is performed on the significant
mengalami kerugian. Aset keuangan yang tidak impaired financial asset. The impaired financial
signifikan namun diperkirakan akan mengalami assets which are not classified as individually
kerugian dimasukkan dalam kelompok aset significant are included in group of financial asset
keuangan yang memiliki karakteristik risiko yang with similar credit risk characteristics and then
serupa dan dilakukan penilaian secara kolektif. assessed by using collective assessment.
Jika Bank CIMB Niaga dan Entitas Anak If Bank CIMB Niaga and Subsidiaries assesses
menentukan tidak terdapat bukti objektif dari that there is no objective evidence of impairment
kerugian penurunan nilai atas aset keuangan for financial asset as individual, that account of
yang dinilai secara individual, maka akun atas financial asset will be included in a group of
aset keuangan tersebut akan masuk ke dalam financial asset with similar credit risk
kelompok aset keuangan yang memiliki characteristics and collectively assesses them for
karakteristik risiko kredit yang serupa dan impairment. Accounts that are individually
menilai kerugian penurunan nilai kelompok assessed for impairment and for which an
tersebut secara kolektif. Akun yang kerugian impairment loss is or continues to be recognised
penurunan nilai dinilai secara individual, dan are not included in a collective assessment.
untuk itu kerugian penurunan nilai diakui atau
tetap diakui, tidak termasuk dalam penilaian
secara kolektif.
Jumlah kerugian penurunan nilai individual The amount of the impairment is measured as
diukur berdasarkan selisih antara nilai tercatat the difference between the asset’s carrying
aset keuangan dengan nilai kini dari estimasi amount and the present value of estimated future
arus kas masa datang yang didiskontokan cash flows discounted at the financial asset’s
menggunakan tingkat suku bunga efektif awal original effective interest rate. The carrying
dari aset keuangan tersebut. Nilai tercatat aset amount of the asset is reduced through the use
tersebut dikurangi menggunakan cadangan of an allowance expected loss account and the
kerugian ekspektasian dan jumlah kerugian amount of the loss is recognised as profit/loss. If
penurunan nilai diakui sebagai laba/rugi. Jika a financial assets at amortised cost variable
aset keuangan yang dicatat berdasarkan biaya interest rate, the discount rate for measuring any
perolehan diamortisasi memiliki suku bunga impairment is the current effective interest rate
variabel, maka tingkat diskonto yang digunakan determined under the contract.
untuk mengukur setiap kerugian penurunan nilai
adalah suku bunga efektif yang berlaku yang
ditetapkan dalam kontrak.

Kebijakan berlaku sebelum tanggal 1 Januari 2020 Policy applicable before 1 January 2020 (continued)
(lanjutan)
Perhitungan nilai kini dari estimasi arus kas The calculation of the present value of the
masa datang atas aset keuangan dengan estimated future cash flows of a collateralised
agunan mencerminkan arus kas yang dapat financial asset reflects the cash flows that may
dihasilkan dari pengambilalihan agunan result from foreclosure less costs for obtaining
dikurangi biaya-biaya untuk memperoleh dan and selling the collateral, regardless the
menjual agunan, terlepas apakah foreclosure is probable or not.
pengambilalihan tersebut berpeluang terjadi atau
tidak.
Untuk tujuan evaluasi kerugian penurunan nilai For the purposes of a collective evaluation of
secara kolektif, aset keuangan dikelompokkan impairment, financial asset are grouped on the
berdasarkan kesamaan karakteristik risiko kredit basis of similar credit risk characteristics such
seperti mempertimbangkan segmentasi kredit by considering credit segmentation and past
dan status tunggakan. Karakteristik yang dipilih due status. Those characteristics are relevant to
adalah relevan dengan estimasi arus kas masa the estimation of future cash flows for groups of
datang dari kelompok aset tersebut yang such assets that indicate the debtor or
mengindikasikan kemampuan debitur atau counterpart ability to pay all amounts due
rekanan untuk membayar seluruh liabilitas yang according to the contractual terms of the assets
jatuh tempo sesuai persyaratan kontrak dari aset being evaluated.
yang dievaluasi.
Arus kas masa datang dari kelompok aset Future cash flows in a group of financial assets
keuangan yang penurunan nilainya dievaluasi that are collectively evaluated for impairment
secara kolektif, diestimasi berdasarkan arus kas are estimated on the basis of the contractual
kontraktual dan kerugian historis yang pernah cash flows and historical loss experience for
dialami atas aset-aset yang memiliki assets with credit risk characteristics similar to
karakteristik risiko kredit yang serupa dengan those in the group. Historical loss experience is
karakteristik risiko kredit kelompok tersebut. adjusted on the basis of current observable
Kerugian historis yang pernah dialami kemudian data to reflect the effects of current conditions
disesuaikan berdasarkan data terkini yang dapat that did not affect the period on which the
diobservasi untuk mencerminkan kondisi saat ini historical loss experience is based and to
yang tidak berpengaruh pada periode terjadinya remove the effects of conditions in the historical
kerugian historis tersebut dan untuk period that do not currently exist.
menghilangkan pengaruh kondisi yang ada pada
periode historis namun sudah tidak ada lagi saat
ini.
Beban penurunan nilai yang terkait dengan Impairment charges relating to loans and
kredit yang diberikan dan efek-efek (di dalam marketable securities (held-to-maturity and
kategori dimiliki hingga jatuh tempo dan kredit loans and receivables categories) are classified
yang diberikan dan piutang) diklasifikasikan di in impairment charges.
dalam beban penurunan nilai.

(lanjutan)
Jika pada periode berikutnya, jumlah kerugian If in a subsequent period, the amount of the
penurunan nilai berkurang dan pengurangan impairment loss decreases and the decrease can
tersebut dapat dikaitkan secara objektif pada be related objectively to an event occurring after
peristiwa yang terjadi setelah penurunan nilai the impairment was recognised (such as an
diakui (misalnya perbaikan pada rating kredit improvement in the debtor’s credit rating), the
debitur), maka kerugian penurunan nilai yang previously recognised impairment loss is
sebelumnya diakui harus dipulihkan, baik secara reversed directly, or by adjusting the allowance
langsung, atau dengan menyesuaikan pos account. The amount of the impairment reversal
cadangan. Jumlah pemulihan penurunan nilai is recognised as profit/loss.
diakui sebagai laba/rugi.
Ketika kredit yang diberikan tidak tertagih, kredit When a loan is uncollectible, it is written off
tersebut dihapus buku dengan menjurnal balik against the related allowance for impairment
cadangan kerugian penurunan nilai. Kredit yang loss. Such loans are written off after all the
diberikan tersebut dapat dihapus buku setelah necessary procedures have been completed and
semua prosedur yang diperlukan telah dilakukan the amount of the loss has been determined.
dan jumlah kerugian telah ditentukan.
(B) Aset yang tersedia untuk dijual (B) Assets classified as available-for-sale
Pada setiap tanggal laporan posisi keuangan Bank CIMB Niaga and Subsidiaries assess at
konsolidasian, Bank CIMB Niaga dan Entitas each date of the consolidated statement of
Anak mengevaluasi apakah terdapat bukti yang financial position whether there is objective
objektif bahwa aset keuangan atau kelompok evidence that a financial asset or a group of
aset keuangan mengalami penurunan nilai. Lihat financial assets is impaired. Refer to Note 2h(A)
Catatan 2h(A) untuk kriteria bukti objektif adanya for the criteria of objective evidence of
penurunan nilai. Penurunan yang signifikan atau impairment. In the case of debt instruments
penurunan jangka panjang atas nilai wajar dari classified as available-for-sale, a significant or
investasi dalam instrumen hutang dalam prolonged decline in the fair value of the security
klasifikasi tersedia untuk dijual di bawah biaya below its cost is objective evidence of
perolehannya merupakan bukti objektif terjadinya impairment resulting in the recognition of an
penurunan nilai dan menyebabkan pengakuan impairment loss. If any such evidence exists for
kerugian penurunan nilai. Ketika terdapat bukti available-for-sale financial assets, the cumulative
tersebut di atas untuk aset yang tersedia untuk loss measured as the difference between the
dijual, kerugian kumulatif, yang merupakan selisih acquisition cost and the current fair value, less
antara biaya perolehan dengan nilai wajar kini, any impairment loss on that financial asset
dikurangi kerugian penurunan nilai aset previously recognised in profit/loss is removed
keuangan yang sebelumnya telah diakui pada from equity and recognised as profit/loss.
laba/rugi, dikeluarkan dari ekuitas dan diakui
sebagai laba/rugi.

(lanjutan)
(B) Aset yang tersedia untuk dijual (lanjutan) (B) Assets classified as available-for-sale
(continued)
Jika, pada periode berikutnya, nilai wajar If, in a subsequent period, the fair value of a debt
instrumen hutang yang diklasifikasikan dalam instrument classified as available-for-sale
kelompok tersedia untuk dijual meningkat dan increases and the increase can be objectively
peningkatan tersebut dapat dihubungkan secara related to an event occurring after the
objektif dengan peristiwa yang terjadi setelah impairment loss was recognised in profit/loss, the
pengakuan kerugian penurunan nilai pada impairment loss is reversed through the
laba/rugi, maka kerugian penurunan nilai tersebut profit/loss.
harus dipulihkan melalui laba/rugi.
(C) Kontrak jaminan keuangan dan tagihan komitmen (C) Financial guarantee contracts and other
lainnya commitment receivables
Kontrak jaminan keuangan adalah kontrak yang Financial guarantee contracts are contracts that
mengharuskan penerbit untuk melakukan require the issuer to make specified payments to
pembayaran yang ditetapkan untuk mengganti reimburse the holder for a loss incurred because
uang pemegang kontrak atas kerugian yang a specified debtor defaulted to make payments
terjadi karena debitur tertentu gagal untuk when due, in accordance with the terms of a debt
melakukan pembayaran pada saat jatuh tempo, instrument. Such financial guarantees are given
sesuai dengan ketentuan dari instrumen hutang. to banks, financial institutions and other
Jaminan keuangan tersebut diberikan kepada institutions on behalf of customers to secure
bank-bank, lembaga keuangan dan badan-badan loans, other banking facilities, and unused
lainnya atas nama debitur untuk menjamin kredit, provision of funds facilities.
fasilitas-fasilitas perbankan lainnya, dan
penyediaan dana yang belum ditarik.
Jaminan keuangan awalnya diakui dalam laporan Financial guarantees are initially recognised in
keuangan konsolidasian sebesar nilai wajar pada the financial statements at fair value on the date
tanggal jaminan diberikan. Nilai wajar dari the guarantee was given. The fair value of a
jaminan keuangan pada saat dimulainya financial guarantee at inception is likely to equal
transaksi pada umumnya sama dengan provisi the premium received because all guarantees
yang diterima untuk jaminan diberikan dengan are agreed on arm’s length terms.
syarat dan kondisi normal.
Setelah pengakuan awal kontrak, jaminan Subsequently they are measured at the higher of
keuangan dicatat pada nilai yang lebih tinggi amortised amount and the present value of any
antara nilai wajar amortisasi dengan present expected payment (when a payment under the
value atas pembayaran liabilitas yang diharapkan guarantee has become probable) and the
akan terjadi (ketika pembayaran atas jaminan difference is charged to other operating expense.
menjadi probable) dan selisihnya dibebankan
sebagai biaya operasional lain-lain.
Cadangan kerugian penurunan nilai atas kontrak Allowances for impairment on financial
jaminan keuangan dan tagihan komitmen lainnya guarantee contracts and other commitment
yang memiliki risiko kredit dihitung berdasarkan receivables with credit risk are calculated based
kerugian historis. on historical experience.

(lanjutan)
(D) Cadangan kerugian penurunan nilai aset (D) Allowance for impairment losses on financial
keuangan atas kontrak jaminan keuangan yang guarantee contracts with credit risk and
memiliki risiko kredit dan cadangan kerugian allowance for impairment losses on foreclosed
penurunan nilai aset yang diambil alih assets
Bank CIMB Niaga dan Entitas Anak menentukan Bank CIMB Niaga and Subsidiaries determined
cadangan kerugian penurunan nilai aset the allowance for impairment losses on financial
keuangan atas kontrak jaminan keuangan yang guarantee contracts with credit risk is based on
memiliki risiko kredit berdasarkan data kerugian historical loss data. Whereas the calculation of
historis. Sedangkan perhitungan cadangan allowance for impairment losses of foreclosed
kerugian penurunan nilai aset yang diambil alih assets was calculated using impairment
dihitung dengan prinsip penurunan nilai sesuai principles according to applicable Indonesia
Standar Akuntansi Indonesia yang berlaku. Accounting Standard.
Kebijakan berlaku mulai tanggal 1 Januari 2020 Policy applicable start from 1 January 2020
Perbedaan signifikan antara PSAK 71 dan PSAK 55 In evaluating impairment losses collectively Bank
atas aset keuangan adalah dalam mengevaluasi CIMB Niaga and Subsidiaries primarily uses
kerugian penurunan nilai secara kolektif dimana Bank sophisticated models that utilise the Probability of
CIMB Niaga dan Entitas Anak menggunakan model Default (PD), Loss Given Default (LGD) and Exposure
at Default (EAD) metrics, discounted using the
yang kompleks dengan menggunakan matriks effective interest rate.
Probability of Default (PD), Loss Given Default (LGD),
dan Exposure at Default (EAD) yang didiskontokan
menggunakan suku bunga efektif.
a. Probability of Default (PD) a. Probability of Default (PD)

Probabilitas yang timbul di suatu waktu dimana The probability at a point in time that a
debitur mengalami gagal bayar, dikalibrasikan counterparty will default, calibrated over up to 12
sampai dengan periode 12 bulan dari tanggal months from the reporting date (stage 1) or over
laporan (tahapan 1) atau sepanjang umur the lifetime of the product (stage 2 and 3) and
(tahapan 2 dan 3) dan digabungkan pada incorporating the impact of forward-looking
dampak asumsi ekonomi masa depan yang economic assumptions that have an effect on
memiliki risiko kredit. PD diestimasikan pada credit risk. PD is estimated at a point in time that
point in time dimana hal ini berfluktuasi sejalan means it will fluctuate in line with the economic
dengan siklus ekonomi. cycle.

b. Loss Given Default (LGD) b. Loss Given Default (LGD)
Kerugian yang diperkirakan akan timbul dari The loss that is expected to arise on default,
debitur yang mengalami gagal bayar dengan incorporating the impact of relevant forward
menggabungkan dampak dari asumsi looking economic assumptions (if any),
ekonomi masa depan yang relevan (jika ada) which represents the difference between the
dimana hal ini mewakili perbedaan antara contractual cash flows due and those that
arus kas kontraktual yang akan jatuh tempo the Bank expects to receive. The Bank
dengan arus kas yang diharapkan untuk estimates LGD based on the historical
diterima. Bank mengestimasikan LGD recovery rates and considers the recovery
berdasarkan data historis dari tingkat of any collateral that is integral to the
pemulihan dan memperhitungkan pemulihan financial assets, taking into account forward
yang berasal dari jaminan terhadap aset looking economic assumptions if relevant.
keuangan dengan mempertimbangkan
asumsi ekonomi di masa depan jika relevan.
c. Exposure at Default (EAD) c. Exposure at Default (EAD)
Perkiraan nilai eksposur neraca pada saat The expected balance sheet exposure at
gagal bayar dengan mempertimbangkan the time of default, taking into account that
bahwa perubahan ekspektasi yang expected change in exposure over the
diharapkan selama masa eksposur. Hal ini lifetime of the exposure. This incorporates
menggabungkan dampak penarikan fasilitas the impact of drawdowns of committed
yang committed pembayaran pokok dan facilities, repayments of principal and
bunga, amortisasi dan pembayaran interest, amortization and prepayments,
dipercepat, bersama dengan dampak asumsi together with the impact of forward looking
ekonomi masa depan jika relevan. economic assumptions where relevant.


Pada transaksi konvensionalnya, Bank CIMB Niaga In bank conventional transaction, Bank CIMB Niaga
dan Entitas Anak menggunakan pendekatan 3 and Subsidiaries use 3 stage approach to measure
tahapan dalam mengukur penurunan nilai dari impairment for financial assets recorded at amortised
kelompok aset keuangan yang dicatat berdasarkan cost as follows:
biaya perolehan diamortisasi yaitu:
a. Kerugian kredit ekspektasian 12 bulan (tahapan a. 12 month expected credit losses (stage 1)
1)
Kerugian kredit ekspektasian diakui pada saat Expected credit losses are recognised at the time
pengakuan awal instrumen keuangan dan of initial recognition of a financial instrument and
merepresentasikan kekurangan kas sepanjang represent the lifetime cash short falls arising from
umur aset yang timbul dari kemungkinan gagal possible default events up to twelve months into
the future from the reporting date. Expected
bayar di masa yang akan datang dalam kurun credit losses continue to be determined on this
waktu dua belas bulan sejak tanggal pelaporan. basis until there is either a significant increase in
Kerugian kredit ekspektasian terus ditentukan the credit risk of an instrument or the instrument
oleh dasar ini sampai timbul peningkatan risiko becomes credit impaired. If an instrument is no
kredit yang signifikan pada instrumen tersebut longer considered to exhibit a significant increase
atau instrumen tersebut telah mengalami in credit risk, expected credit losses will revert to
penurunan nilai kredit. Jika suatu instrumen tidak being recalculated on a twelve month basis.
lagi dianggap menunjukkan peningkatan risiko
kredit yang signifikan, maka kerugian kredit
ekspektasian dihitung kembali berdasarkan basis
dua belas bulan
b. Peningkatan risiko kredit yang signifikan b. Significant increase in credit risk (stage 2)
(tahapan 2)
Jika aset keuangan mengalami peningkatan If a financial asset experiences a significant
risiko kredit yang signifikan (SICR) sejak increase in credit risk (SICR) since initial
pengakuan awal, kerugian kredit ekspektasian recognition, an expected credit loss provision is
diakui atas kejadian gagal bayar yang mungkin recognised for default events that may occur
over the lifetime of the asset. Significant increase
terjadi sepanjang umur aset. Peningkatan in credit risk is assessed by comparing the risk of
signifikan dalam risiko kredit dinilai dengan default of an exposure at the reporting date to
membandingkan risiko gagal bayar atas the risk of default at origination (after taking into
eksposur pada tanggal pelaporan dengan risiko account the passage of time).
gagal bayar saat pengakuan awal (setelah
memperhitungkan perjalanan waktu dari akun
tersebut).
Signifikan tidak berarti signifikan secara statistik, Significant does not mean statistically significant
juga tidak dinilai dalam konteks perubahan nor is it assessed in the context of changes in
dalam cadangan kerugian kredit ekspektasian. expected credit loss. Whether a change in the
Perubahan atas risiko gagal bayar dinilai risk of default is significant or not is assessed
using a number of quantitative and qualitative
signifikan atau tidak, dinilai menggunakan factors, the weight of which depends on the type
sejumlah faktor kuantitatif dan kualitatif, yang of product and counterparty. Financial assets
bobotnya bergantung pada tipe produk dan pihak that are 30 or more days past due and not credit
lawan. Aset keuangan dengan tunggakan 30 hari impaired will always be considered to have
atau lebih dan tidak mengalami penurunan nilai experienced a significant increase in credit risk.
akan selalu dianggap telah mengalami
peningkatan risiko kredit yang signifikan.

c. Eksposur yang mengalami penurunan nilai kredit c. Credit impaired or defaulted exposures (stage 3)
atau gagal bayar (tahapan 3)
Financial assets that are credit impaired (or in
Aset keuangan yang mengalami penurunan nilai default) represent those that are at least 90
(atau gagal bayar) merupakan aset yang days past due in respect of principal and/or
setidaknya telah memiliki tunggakan lebih dari 90 interest or has certain credit grades. Financial
hari atas pokok dan/atau bunga atau memiliki assets are also considered to be credit impaired
peringkat kredit tertentu. Aset keuangan juga where the debtors are unlikely to pay on the
dianggap mengalami penurunan nilai kredit occurrence of one or more observable events
dimana debitur kemungkinan besar tidak akan that have a detrimental impact on the estimated
membayar dengan terjadinya satu atau lebih future cash flows of the financial asset.
kejadian yang teramati yang memiliki dampak
menurunkan jumlah estimasi arus kas masa
depan dari aset keuangan tersebut.
Cadangan kerugian penurunan nilai terhadap Loss provisions against credit impaired financial
aset keuangan yang mengalami penurunan nilai assets are determined based on an assessment
ditentukan berdasarkan penilaian terhadap arus of the recoverable cash flows under a range of
kas yang dapat dipulihkan berdasarkan sejumlah scenarios, including the realisation of any
collateral held where appropriate. The ECL will
skenario, termasuk realisasi jaminan yang reflect weighted average of the scenarios based
dimiliki jika memungkinkan. ECL akan on the probability of the relevant scenario to
mencerminkan rata-rata tertimbang dari skenario occur. The loss provisions held represent the
berdasarkan probabilitas dari skenario yang difference between the present value of the
relevan untuk terjadi. Cadangan kerugian cash flows expected to be recovered,
penurunan nilai merupakan selisih antara nilai discounted at the instrument’s original effective
sekarang dari arus kas yang diperkirakan akan interest rate, and the gross carrying value of the
dipulihkan, didiskontokan pada suku bunga instrument prior to any credit impairment.
efektif awal, dan nilai tercatat bruto instrumen
sebelum penurunan nilai kredit.
Periode yang diperhitungkan ketika mengukur The period considered when measuring
kerugian kredit ekspektasian adalah periode expected credit loss is the shorter of the
yang lebih pendek antara umur ekspektasian expected life and the contractual term of the
dan periode kontrak aset keuangan. Umur financial asset. The expected life may be
ekspektasian dapat dipengaruhi oleh impacted by prepayments and the maximum
pembayaran dimuka dan periode kontrak contractual term by extension options. For
maksimum melalui opsi perpanjangan kontrak. certain revolving portfolios, including credit
Untuk portofolio revolving tertentu, termasuk cards, the expected life is assessed over the
kartu kredit, umur ekspektasian dinilai sepanjang period that the Bank is exposed to credit risk
periode dimana Bank terekspos dengan risiko (which is based on the length of time it takes for
kredit (berdasarkan durasi waktu yang credit facilities to be withdrawn) rather than the
dibutuhkan untuk fasilitas kredit ditarik), bukan contractual term.
sepanjang periode kontrak.


Sesuai dengan siaran pers dari Ikatan Akuntan In accordance to press conference of Indonesian
Indonesia (IAI) pada tanggal 10 Januari 2018 dan Institute of Accountants on 10 January 2018 and
ISAK 102, khusus untuk transaksi berbasis syariah Interpretation of Financial Accounting Standards
pengukuran penurunan nilai dari kelompok aset (ISFAS) 102, particularly for sharia based transaction
keuangan masih belum mengadopsi PSAK 71. impairment losses from group of financial assets still
has not adopted SFAS 71.
Jika pada periode berikutnya, jumlah kerugian If in a subsequent period, the amount of the
penurunan nilai berkurang dan pengurangan tersebut impairment loss decreases and the decrease can be
dapat dikaitkan secara objektif pada peristiwa yang related objectively to an event occurring after the
terjadi setelah penurunan nilai diakui (misalnya impairment was recognised (such as an improvement
perbaikan pada rating kredit debitur), maka kerugian in the debtor’s credit rating), the previously recognised
penurunan nilai yang sebelumnya diakui harus impairment is reversed directly, or by adjusting the
dipulihkan, baik secara langsung, atau dengan allowance account. The amount of the impairment
menyesuaikan pos cadangan. Jumlah pemulihan reversal is recognised as profit/loss.
penurunan nilai diakui sebagai laba/rugi.
Ketika kredit yang diberikan tidak tertagih, kredit When a loan is uncollectible, it is written off by reverse
tersebut dihapus buku dengan menjurnal balik the related allowance for impairment losess. Such
cadangan kerugian penurunan nilai. Kredit yang loans are written off after all the necessary procedures
diberikan tersebut dapat dihapus buku setelah semua have been completed and the amount of the loss has
prosedur yang diperlukan telah dilakukan dan jumlah been determined.
kerugian telah ditentukan.
Macroeconomic Variables (MEV) Macroeconomic Variables (MEV)
Sesuai dengan PSAK 71, perhitungan kerugian kredit In accordance with SFAS 71, the calculation of
ekspektasian wajib memperhitungkan pengaruh dari expected credit losses must consider the effect of the
macroeconomic forecast sekarang pada saat current macroeconomic forecast when making the
pembuatan permodalan dalam menghitung kerugian model in calculating the expected credit losses. Bank
kredit ekspektasian. Bank CIMB Niaga dan Entitas CIMB Niaga and Subsidiaries had considered several
Anak telah memperhitungkan beberapa MEV yang MEV relevant to this modeling and have updated the
relevan dengan permodelan tersebut dan melakukan MEV forecast at least once a year. The relevance of the
pengkinian MEV forecast paling sedikit satu tahun MEV is measured using statistical regression analysis
sekali. Relevansi MEV tersebut diukur dengan and reviewed periodically by involving several experts
menggunakan analisa regresi statistik dan direview such as economic teams and consultants in its
secara berkala dengan melibatkan beberapa tenaga development to provide an overview of the best forecast
ahli seperti tim ekonomi dan konsultan dalam of the current economy as well as predictions for the
pengembangannya untuk memberikan gambaran economics’ going concern.
perkiraan terbaik terhadap perekonomian saat ini serta
prediksi untuk perekonomian ke depan.
Seperti halnya perkiraan ekonomi lainnya, proyeksi dan As with any economic forecasts, the projections and
kemungkinan terjadi bergantung pada ketidakpastian likelihoods of occurrence are subject to inherent
yang melekat dan oleh karena itu hasil aktual mungkin uncertainty and therefore the actual outcomes may be
berbeda dengan yang diproyeksikan. Bank CIMB Niaga different to those projected. Bank CIMB Niaga and
dan Entitas Anak menganggap perkiraan ini untuk Subsidiaries considers these forecasts to represent its
mewakili perkiraan terbaik atas hasil yang paling best estimate of the possible outcomes and has analysed
memungkinkan dan telah menganalisis non-linearitas the non-linearities and asymmetries within Bank CIMB
dan asimetri dalam portofolio Bank CIMB Niaga dan Niaga and Subsidiaries’ different portfolios to establish
Entitas Anak yang berbeda untuk menetapkan bahwa that the chosen scenarios are appropriately
skenario yang dipilih mewakili secara tepat dari berbagai representative of the range of possible scenarios.
skenario yang memungkinkan.
\


Bank CIMB Niaga dan Entitas Anak melakukan Bank CIMB Niaga and Subsidiaries evaluate the impact
evaluasi dampak pandemi COVID-19 terhadap of the COVID-19 pandemic on calculating expected
perhitungan kerugian kredit ekspektasian. Mengingat credit loss, including adjustments to macroeconomic
model perhitungan kerugian kredit ekspektasian tidak variables. Considering that the expected credit loss
sepenuhnya dapat menghasilkan estimasi kerugian calculation model cannot produce an accurate
yang akurat dalam kondisi ekonomi yang abnormal, estimation of losses in abnormal economic conditions,
maka Bank CIMB Niaga dan Entitas Anak juga sudah Bank CIMB Niaga and Subsidiaries has also taken into
memperhitungkan beberapa faktor penyesuaian untuk account several adjustment factors to ensure the
memastikan nilai kerugian kredit ekspektasian yang expected value of the expected credit loss recognised
diakui dalam laporan keuangan dinyatakan secara in the financial statements is stated fairly.
wajar.
Bank CIMB Niaga dan Entitas Anak juga telah Bank CIMB Niaga and Subsidiaries has also made loan
melakukan restrukturisasi kredit untuk mendukung restructured to support personal and business
nasabah perseorangan dan bisnis melalui masa-masa customers through these challenging times, including
sulit ini, termasuk penundaan pembayaran, penurunan payment holidays, decrease in interest rate, and
tingkat suku bunga, dan bantuan likuiditas bisnis untuk liquidity relief for businesses facing market uncertainty.
menghadapi ketidakpastian pasar. Bank CIMB Niaga Bank CIMB Niaga and Subsidiaries is also aligning with
dan Entitas Anak juga menyelaraskan dengan the OJK regulation related to relaxation during
kebijakan OJK terkait relaksasi dengan kondisi pandemic condition.
pandemi.
Dalam menilai kondisi masa depan, Bank CIMB Niaga In assessing future conditions, Bank CIMB Niaga and
dan Entitas Anak telah mempertimbangkan berbagai Subsidiaries has considered various relevant
informasi relevan yang tersedia, termasuk information available, including introduced more criteria
memperkenalkan lebih banyak kebijakan kriteria untuk policies for staging, rigorous monitoring in assessing the
pendekatan tahapan, pemantauan yang ketat dalam customers requiring stimulus on individual account
menilai pelanggan yang membutuhkan stimulus basis and downgraded accordingly when necessary as
berdasarkan akun perorangan dan akan diturunkan the additional effort to address the concern of need for
apabila diperlukan sebagai upaya tambahan untuk pandemic including further assessment during the
mengatasi kekhawatiran terhadap pandemi, termasuk watchlist process through more stratification on the risk
penilaian lebih lanjut dalam hal proses watchlist melalui level.
stratifikasi yang lebih ditekankan pada tingkat risiko.
Terkait dengan kondisi pandemi, Bank CIMB Niaga dan Bank CIMB Niaga and Subsidiaries also adjust macro
Entitas Anak menyesuaikan skenario makro ekonomi economic scenario for expected credit loss calculation
pada metodologi perhitungan kerugian kredit methodology. Bank CIMB Niaga and Subsidiaries
ekspektasian. Bank CIMB Niaga dan Entitas Anak terus continue to follow this methodology in generating
mengikuti metodologi ini dalam menghasilkan rata-rata consensus probability-weighted expected credit loss,
tertimbang pada kerugian kredit ekspektasian secara with additional scenarios and management’s
konsensus, dengan skenario tambahan dan adjustments supplementing this expected credit loss
penyesuaian manajemen yang melengkapi kerugian where, in Bank CIMB Niaga and Subsidiaries’ opinion,
kredit ekspektasian di mana, menurut Bank CIMB the consensus forecast does not fully capture the extent
Niaga dan Entitas Anak, perkiraan konsensus tidak of recent credit or economic events.
sepenuhnya menangkap tingkat kredit atau peristiwa
ekonomi baru-baru ini.

i. Kas i. Cash
Kas meliputi kas kecil, kas besar, kas di dalam Cash includes petty cash, cash, cash in Automatic
Anjungan Tunai Mandiri (ATM)/Cash Deposit Machine Teller Machines (ATMs)/Cash Deposit Machine
(CDM), dan bank notes. (CDMs), and bank notes.
j. Giro pada bank lain dan Bank Indonesia j. Current accounts with other banks and Bank
Indonesia
Giro pada bank lain dan Bank Indonesia (BI) Current account with other banks and Bank Indonesia
diklasifikasikan sebagai biaya perolehan yang (BI) are classified as amortised cost. Refer to Note 2f
diamortisasi. Lihat Catatan 2f untuk kebijakan for the accounting policy of amortised cost.
akuntansi atas biaya perolehan yang diamortisasi.
Giro pada bank lain dan Bank Indonesia dinyatakan Current accounts with other banks and Bank
sebesar saldo giro dikurangi dengan cadangan Indonesia are stated at the outstanding balance less
kerugian penurunan nilai. allowance for impairment losses.
Giro Wajib Minimum (dahulu disebut Giro Wajib Minimum Statutory Reserve (previously Primary
Minimum Primer) adalah simpanan minimum yang Minimum Statutory Reserve) is minimum deposit that
wajib dipelihara oleh Bank dalam bentuk saldo should be maintained by Bank in current account with
rekening giro pada BI yang besarnya ditetapkan oleh BI in certain percentage of third party fund which is
BI sebesar persentase tertentu dari dana pihak ketiga. determined by BI.
Penyangga Likuiditas Makroprudensial (dahulu disebut Macroprudential Liquidity Buffer (previously
Giro Wajib Minimum Sekunder) adalah cadangan Secondary Minimum Statutory Reserve) is minimum
minimum yang wajib dipelihara oleh Bank dalam reserve that should be maintained by Bank in form of
bentuk Sertifikat Bank Indonesia (SBI), Sertifikat Certificate of Bank Indonesia, Bank Indonesia Deposit
Deposito Bank Indonesia (SDBI), Surat Utang Negara Certificate (SDBI), Government Debenture Debt
(SUN) dan/atau Surat Berharga Negara (SBN), yang (SUN) and/or Government Commercial Notes (SBN),
besarnya ditetapkan BI sebesar persentase tertentu. in certain percentage determined by BI.
k. Penempatan pada bank lain dan Bank Indonesia k. Placements with other banks and Bank Indonesia
Penempatan pada bank lain dan Bank Indonesia Placements with other banks and Bank Indonesia are
diklasifikasikan sebagai biaya perolehan diamortisasi. amortise cost. Refer to Note 2f for the accounting
Lihat Catatan 2f untuk kebijakan akuntansi atas biaya policy of amortised cost.
l. Efek-efek dan Obligasi Pemerintah l. Marketable securities and Government Bonds
Efek-efek yang dimiliki terdiri dari SBI, obligasi Marketable securities consist of SBI, corporate bonds,
korporasi, wesel jangka menengah, tagihan wesel medium term notes, export bills receivable, and other
ekspor, dan efek-efek pasar uang dan pasar modal money market and capital market securities.
lainnya.
Efek-efek dan Obligasi Pemerintah diklasifikasikan Marketable securities and Government Bonds are
sebagai aset keuangan yang diukur pada nilai wajar classified as financial assets at fair value through
melalui laba/rugi, penghasilan komprehensif lain, dan profit/loss, other comprehensive income, and
biaya perolehan diamortisasi. Lihat Catatan 2f untuk amortised cost. Refer to Note 2f for the accounting
kebijakan akuntansi atas aset keuangan dalam policy of financial assets fair value through profit or
kelompok diukur pada nilai wajar melalui laba rugi, loss, other comprehensive income, and amortised
penghasilan komprehensif lain dan biaya perolehan cost.
diamortisasi.


m. Efek-efek yang dibeli dengan janji dijual kembali m. Securities purchased under resale agreements
dan efek-efek yang dijual dengan janji dibeli and securities sold under repurchase
kembali agreements
Efek-efek yang dibeli dengan janji dijual kembali Securities purchased under resale agreements
(reverse repo) disajikan sebagai tagihan sebesar (reverse repo) are presented as receivables at the
harga jual kembali yang disepakati dikurangi dengan agreed resale price net of the difference between the
selisih antara harga beli dan harga jual kembali yang purchase price and agreed resale price (unearned
disepakati (pendapatan bunga yang ditangguhkan) interest income) and allowance for impairment losses.
dan cadangan kerugian penurunan nilai. Selisih antara The difference between the purchase price and the
harga beli dan harga jual kembali yang disepakati agreed resale price are amortised using effective
tersebut diamortisasi dengan menggunakan suku interest rate as interest income over the period,
bunga efektif sebagai pendapatan bunga selama commencing from the acquisition date to the resale
jangka waktu sejak efek-efek itu dibeli hingga saat date.
dijual kembali.
Efek-efek yang dibeli dengan janji dijual kembali Securities purchased under resale agreements
(reverse repo) diklasifikasikan sebagai biaya (reverse repo) are classified as amortised cost. Refer
perolehan diamortisasi. Lihat Catatan 2f untuk to Note 2f for the accounting policy for financial assets
kebijakan akuntansi atas aset keuangan yang that classified as amortised cost.
diklasifikasikan sebagai biaya perolehan diamortisasi.
Efek-efek yang dijual dengan janji untuk dibeli kembali Securities sold under repurchase agreements (repo)
(repo) disajikan sebagai liabilitas dalam laporan posisi are presented as liabilities in the consolidated
keuangan konsolidasian sebesar harga beli kembali statement of financial position at the agreed
yang disepakati dikurangi selisih antara harga jual dan repurchase price net of the difference between the
harga beli kembali yang disepakati (beban bunga selling price and the agreed repurchase price (prepaid
dibayar dimuka). Selisih antara harga jual dan harga interest expense). The difference between the selling
beli kembali yang disepakati tersebut diamortisasi price and the agreed repurchase price is amortised as
sebagai beban bunga selama jangka waktu sejak interest expense over the period commencing from
efek-efek dijual hingga dibeli kembali. the selling date to the repurchase date.
Efek-efek yang dijual dengan janji untuk dibeli kembali Securities sold under repurchase agreements are
diklasifikasikan sebagai liabilitas keuangan yang classified as financial liabilities at amortised cost.
diukur dengan biaya perolehan diamortisasi. Lihat Refer to Note 2f for the accounting policy for financial
Catatan 2f untuk kebijakan akuntansi atas liabilitas liabilities at amortised cost.
keuangan yang diukur dengan biaya perolehan
diamortisasi.
n. Instrumen keuangan derivatif dan lindung nilai n. Derivative financial instruments and hedging
Akuntansi instrumen keuangan derivatif Accounting for derivative financial instruments
Dalam melakukan usaha bisnisnya, Bank CIMB Niaga In the normal course of business, Bank CIMB Niaga
melakukan transaksi instrumen keuangan derivatif enters into transactions involving derivative financial
seperti kontrak tunai dan berjangka mata uang asing, instruments such as foreign currency spot and
foreign currency swaps, kontrak opsi mata uang asing, forward contracts, foreign currency swaps, foreign
dan swap tingkat suku bunga. Instrumen keuangan currency options contracts, and interest rate swaps.
derivatif dinilai dan dibukukan di laporan posisi Derivative financial instruments are valued and
keuangan konsolidasian pada nilai wajar dengan recorded on consolidated statement of financial
menggunakan harga pasar. Derivatif dicatat sebagai position at their fair value using market rates.
aset apabila memiliki nilai wajar positif dan sebagai Derivatives are carried as assets when the fair value
liabilitas apabila memiliki nilai wajar negatif. is positive and as liabilities when the fair value is
negative.
Keuntungan atau kerugian yang terjadi dari perubahan Gains or losses as a result of fair value changes are
nilai wajar diakui sebagai laba/rugi. recognised as current year profit/loss.

n. Instrumen keuangan derivatif dan lindung nilai n. Derivative financial instruments and hedging
Akuntansi untuk aktivitas lindung nilai Accounting for hedging activities
Instrumen keuangan derivatif pada awalnya diakui di Derivative financial instruments are initially recognised
laporan posisi keuangan konsolidasian berdasarkan in the consolidated statement of financial position at
nilai wajar pada tanggal kontrak derivatif disepakati fair value on the date a derivative contract is entered
dan selanjutnya dinilai kembali berdasarkan nilai into and subsequently are remeasured at their fair
wajarnya. Metode untuk mengakui keuntungan atau values. The method of recognising the resulting gain
kerugian yang terjadi tergantung pada sifat dari objek or loss is dependent on the nature of the item being
yang dilindungi nilainya. Bank CIMB Niaga hedged. Bank CIMB Niaga designates certain
mengelompokkan derivatif sebagai (1) instrumen derivatives as either (1) a hedge of the fair value of a
lindung nilai terhadap nilai wajar suatu aset atau recognised asset or liability or of an unrecognised firm
liabilitas yang diakui atau terhadap komitmen teguh commitment (fair value hedge), or (2) a hedge of
yang belum diakui (lindung nilai atas nilai wajar), atau highly probable future cash flows attributable to a
(2) instrumen lindung nilai atas arus kas masa depan recognised assets or liability or a forecasted
yang kemungkinan besar terjadi yang dapat transaction (cash flow hedge).
diatribusikan dengan aset dan liabilitas yang telah
diakui atau sebuah prakiraan transaksi yang
kemungkinan besar terjadi (lindung nilai arus kas).
Walaupun merupakan sarana lindung nilai ekonomis Certain derivative transactions, whilst providing
yang efektif berdasarkan kebijakan manajemen risiko effective economic hedges under Bank CIMB Niaga’s
Bank CIMB Niaga, beberapa transaksi derivatif risk management policies, do not qualify for hedge
tertentu tidak memenuhi persyaratan sebagai accounting under the specific rules in SFAS 71 .
akuntansi lindung nilai berdasarkan ketentuan
PSAK 71 .
Pada awal terjadinya transaksi, Bank CIMB Niaga At the inception of transaction, Bank CIMB Niaga
mendokumentasikan hubungan antara instrumen documents the relationship between hedging
lindung nilai dan unsur yang dilindungi nilainya, juga instruments and hedged items, as well as its risk
tujuan manajemen risiko dan strategi yang diterapkan management objective and strategy for undertaking
dalam melakukan berbagai macam transaksi lindung various hedge transactions. This process includes
nilai. Proses dokumentasi ini menghubungkan derivatif linking all derivatives designated as hedges to specific
yang ditujukan sebagai lindung nilai dengan aset dan assets and liabilities or specific firm commitments or
liabilitas tertentu atau dengan komitmen atau transaksi forecast transactions. If the hedge ratio for risk
tertentu yang diperkirakan. Jika rasio lindung nilai management purposes is no longer optimal but the
untuk tujuan manajemen risiko tidak lagi optimal tetapi risk management objective remains unchanged and
tujuan manajemen risiko tetap tidak berubah dan the hedge continues to qualify for hedge accounting,
lindung nilai terus memenuhi syarat untuk akuntansi the hedge relationship will be rebalanced by adjusting
lindung nilai, hubungan lindung nilai akan either the volume of the hedging instrument or the
diseimbangkan dengan menyesuaikan volume volume of the hedged item so that the hedge ratio
instrumen lindung nilai atau volume item yang aligns with the ratio used for risk management
dilindungi nilai sehingga rasio lindung nilai sejalan purposes. Any hedge ineffectiveness is calculated
dengan rasio yang digunakan untuk tujuan and accounted for in profit or loss at the time of the
manajemen risiko. Ketidakefektifan lindung nilai hedge relationship rebalancing.
dihitung dan dicatat dalam laba rugi pada saat
penyeimbangan kembali hubungan lindung nilai.
Nilai wajar berbagai instrumen derivatif yang The fair values of various derivative instruments used
digunakan untuk tujuan lindung nilai dan mutasi pada for hedging purposes and movements on the hedging
cadangan lindung nilai di ekuitas diungkapkan dalam reserve in equity are disclosed in Note 11.
Catatan 11.


o. Kredit yang diberikan o. Loans
Kebijakan berlaku sebelum 1 Januari 2020 Policy applicable before 1 January 2020
Kredit yang diberikan adalah penyediaan uang atau Loans represent provision of cash or cash equivalent
tagihan yang dapat disetarakan dengan kas, based on agreements with borrowers, where
berdasarkan persetujuan atau kesepakatan pinjam- borrowers required to repay their debts with interest
meminjam dengan peminjam, mewajibkan pihak after specified periods.
peminjam untuk melunasi hutang berikut bunganya
setelah jangka waktu tertentu.
Kredit yang diberikan diklasifikasikan sebagai biaya Loans are classified as amortised cost. Refer to Note
perolehan diamortisasi. Lihat Catatan 2f untuk 2f for the accounting policy of amortised cost.
kebijakan akuntansi atas biaya perolehan diamortisasi.
Termasuk dalam kredit yang diberikan adalah Loans include sharia financing which consist of
pembiayaan syariah yang terdiri dari piutang murabahah receivables, qardh receivables,
murabahah, piutang qardh, pembiayaan musyarakah, musyarakah financing, mudharabah financing, and
pembiayaan mudharabah, dan ijarah. Murabahah ijarah. Murabahah is an agreement for the sale and
adalah akad jual beli barang dengan harga jual purchase of goods with sales price equivalent to cost
sebesar biaya perolehan ditambah keuntungan plus agreed margin, and the seller should inform the
(marjin) yang disepakati dan penjual harus purchase cost to buyer. Qardh is a loan/borrowing
mengungkapkan biaya perolehan barang tersebut funds without profit wherein the borrower return the
kepada pembeli. Qardh adalah akad pinjam meminjam principal of the loan at lump sum or on installment
dana tanpa imbalan dengan liabilitas pihak peminjam over certain period. Musyarakah is an agreement
mengembalikan pokok pinjaman secara sekaligus atau between investors (musyarakah partners) to have a
cicilan dalam jangka waktu tertentu. Musyarakah join-venture in a partnership, at an agreed nisbah
adalah akad kerjasama antara dua pihak atau lebih sharing portion, while losses will be proportionately
untuk suatu usaha tertentu, dimana masing-masing distributed based on the capital contribution. These
pihak memberikan kontribusi dana dengan ketentuan funds including cash or non-cash assets which are
bahwa keuntungan dibagi berdasarkan kesepakatan allowed by sharia. Mudharabah is an agreement
sedangkan kerugian berdasarkan porsi kontribusi between Bank CIMB Niaga as an owner of funds
dana. Dana tersebut meliputi kas atau aset nonkas (shahibul maal) and customer as a fund manager
yang diperkenankan oleh syariah. Mudharabah adalah (mudharib) to run a business with pre-defined terms of
akad kerjasama usaha antara Bank CIMB Niaga gain or loss (nisbah). Ijarah is a lease agreement
sebagai pemilik dana (shahibul maal) dan nasabah between lessor and lessee to get margin from leased
selaku pengelola dana (mudharib), menjalankan object.
usaha dengan penentuan awal keuntungan atau
kerugian (nisbah). Ijarah adalah akad sewa-menyewa
antara pemilik (objek sewa) dan penyewa untuk
mendapatkan imbalan atas objek sewa yang
disewakannya.
Pembiayaan syariah disajikan sebesar jumlah Sharia financing is stated at their outstanding balance
pembiayaan dikurangi dengan cadangan kerugian less their allowance for impairment losses which have
penurunan nilai dengan jumlah minimum berdasarkan been determined using BI criteria in accordance with
Peraturan Otoritas Jasa Keuangan (POJK) No. Financial Service Authority (FSA) Regulation No.
40/POJK.03/2019 tentang Penilaian Kualitas Aset 40/POJK.03/2019 concerning Asset Quality
Bank Umum. Assessment.

o. Kredit yang diberikan (lanjutan) o. Loans (continued)
Berlaku sejak Januari 2015, Otoritas Jasa Keuangan Starting January 2015, Financial Services Authority
(OJK) menerbitkan peraturan OJK baru (OJK) issued new regulation No.16/POJK.03/2014
No.16/POJK.03/2014 tanggal 18 November 2014 dated 18 November 2014 as amended in POJK
sebagaimana diubah dengan POJK No.19/POJK.03/2018 dated 20 September 2018 and
No.19/POJK.03/2018 tanggal 20 September 2018 dan OJK Circular Letter No.8/SEOJK.03/2015 dated
Surat Edaran OJK No.8/SEOJK.03/2015 tanggal 10 March 2015 concerning Asset Quality Assessment
10 Maret 2015 tentang Penilaian Kualitas Aset Bank on Sharia Bank and Sharia Business Unit.
Umum Syariah dan Unit Usaha Syariah.
Pembiayaan syariah dengan akad Murabahah Sharia financing with Murabahah agreement is stated
disajikan sebesar jumlah pembiayaan dikurangi at their outstanding balance less allowance for
cadangan kerugian penurunan nilai sesuai dengan impairment losses as required by SFAS 102 (2016)-
PSAK 102 (2016) - Akuntansi Murabahah Accounting for Murabahah as amendment of SFAS
menggantikan PSAK 102 (2007). 102 (2007).
Restrukturisasi kredit meliputi modifikasi persyaratan Loan restructuring may involve a modification of the
kredit, konversi kredit menjadi saham atau instrumen terms of the loans, conversion of loans into equity or
keuangan lainnya dan/atau kombinasi dari keduanya. other financial instruments and/or a combination of
both.
Kredit yang direstrukturisasi disajikan sebesar nilai Restructured loans are stated at the lower of carrying
yang lebih rendah antara nilai tercatat kredit pada value of the loan at the time of restructuring or net
tanggal restrukturisasi atau nilai tunai penerimaan kas present value of the total future cash receipts after
masa depan setelah restrukturisasi. Kerugian akibat restructuring. Losses arising from any excess of the
selisih antara nilai tercatat kredit pada tanggal carrying value of the loan at the time of restructuring
restrukturisasi dengan nilai tunai penerimaan kas over the net present value of the total future cash
masa depan setelah restrukturisasi diakui sebagai receipts after restructuring are recognised as
laba/rugi. Setelah restrukturisasi, semua penerimaan profit/loss. Thereafter, all cash receipts under the new
kas masa depan yang ditetapkan dalam persyaratan terms shall be accounted for as the recovery of
baru dicatat sebagai pengembalian pokok kredit yang principal and interest revenue, in accordance with the
diberikan dan pendapatan bunga sesuai dengan restructuring scheme.
syarat-syarat restrukturisasi.
Setelah pengakuan awal, kredit yang diberikan diukur Subsequent to initial recognition, loans are measured
pada biaya perolehan diamortisasi atau nilai wajar at amortised cost or fair value depending on the
sesuai dengan klasifikasinya masing-masing (Catatan respective classification (Note 2f). For loan which
2f). Untuk kredit yang diberikan dengan biaya classified as amortised cost, it is subsequently
perolehan diamortisasi, setelah pengakuan awal measured by using the effective interest method.
diukur menggunakan suku bunga efektif. Sedangkan While for loan which classified as fair value through
untuk kredit yang diberikan yang diklasifikasikan profit or loss, it is subsequently carried at fair value,
sebagai nilai wajar melalui laba rugi (FVTPL), setelah with gains or losses arising from changes in fair value
pengakuan awal diukur pada nilai wajar dimana are recorded in net trading income.
keuntungan atau kerugian atas perubahan nilai wajar
dicatat pada pendapatan transaksi perdagangan
bersih.

o. Kredit yang diberikan (lanjutan) o. Loans (continued)
Dalam hal restrukturisasi kredit bermasalah dilakukan In troubled debt restructuring which only involves
hanya dengan modifikasi persyaratan kredit. Bank modification of the credit terms, Bank CIMB Niaga
CIMB Niaga dan Entitas Anak mencatat dampak and Subsidiaries accounts for the restructuring’s
restrukturisasi tersebut secara prospektif dan tidak effect prospectively and does not change the carrying
mengubah nilai tercatat kredit yang diberikan pada amount of the loans at the time of restructuring,
tanggal restrukturisasi, kecuali jika jumlahnya melebihi unless the amount exceeds the present value of the
nilai kini penerimaan kas masa depan yang ditentukan total future cash receipts specified in the new terms. If
dalam persyaratan baru. Jika nilai kini penerimaan kas the present value of the total future cash receipts
masa depan sebagaimana yang ditentukan dalam specified in the new terms is lower than the carrying
persyaratan baru dari kredit yang direstrukturisasi amount of the loans prior to restructuring, Bank CIMB
tersebut lebih rendah daripada nilai tercatat kredit Niaga and Subsidiaries reduces the loans balance to
yang diberikan sebelum direstrukturisasi, Bank CIMB the amount equal to the present value of the total
Niaga dan Entitas Anak harus mengurangkan saldo future cash receipts. The amount of the reduction is
kredit yang diberikan ke suatu jumlah yang sama charged in current year’s profit or loss.
dengan jumlah nilai kini penerimaan kas masa depan.
Jumlah pengurangan tersebut dibebankan pada laba
rugi tahun berjalan.
p. Piutang pembiayaan konsumen p. Consumer financing receivables
Piutang pembiayaan konsumen Entitas Anak The Subsidiaries’ consumer financing receivables are
diklasifikasikan sebagai biaya perolehan diamortisasi. classified as amortised cost. Refer to Note 2f for the
Lihat Catatan 2f untuk kebijakan akuntansi atas biaya accounting policy of amortised cost.
Pada saat pengakuan awal, piutang pembiayaan Consumer financing receivables are initially measured
konsumen diukur pada nilai wajar atau nilai wajar at fair value or fair value plus/minus transaction costs
ditambah/dikurangi biaya dan pendapatan transaksi and income (if any). At initial recognition, the fair value
(jika ada). Pada saat pengakuan awal, nilai wajar of consumer financing receivable represents the
pembiayaan konsumen merupakan jumlah piutang receivable deducted by unearned income.
dikurangi pendapatan yang ditangguhkan.
Selanjutnya, piutang pembiayaan konsumen diukur Subsequently, consumer financing receivables are
dengan biaya perolehan diamortisasi menggunakan measured at amortised cost using the effective
metode suku bunga efektif setelah dikurangi dengan interest rate method net of unearned income on
pendapatan yang ditangguhkan dan cadangan consumer financing and allowance impairment
kerugian penurunan nilai. losses.

p. Piutang pembiayaan konsumen (lanjutan) p. Consumer financing receivables (continued)
Pendapatan pembiayaan konsumen Entitas Anak yang The Subsidiaries unearned consumer financing
belum diakui merupakan selisih antara jumlah income is the difference between total installments to
keseluruhan pembayaran angsuran yang akan be received from customers and total financing which
diterima dari konsumen dan jumlah pokok is recognised as earned income over the term of the
pembiayaan, yang diakui sebagai penghasilan contract based on a contract rate of return periodicaly
sepanjang jangka waktu kontrak berdasarkan suatu on the net investment commencing at the time the
tarif pengembalian menurut kontrak yang dihitung consumer financing is executed.
secara berkala atas nilai investasi bersih terhitung
sejak pembiayaan konsumen dilakukan.
Penyelesaian kontrak sebelum masa pembiayaan Early termination is treated as a cancellation of an

konsumen berakhir diperlakukan sebagai pembatalan existing contract and the resulting gain or loss is
kontrak pembiayaan konsumen dan keuntungan atau charged as current period profit/loss.
kerugian yang timbul diakui sebagai laba/rugi periode
berjalan.
Dalam pembiayaan bersama, Entitas Anak berhak For joint financing agreements, the Subsidiaries have
menentukan tingkat bunga yang lebih tinggi kepada the right to set higher interest rate to the consumer
konsumen dibandingkan dengan tingkat bunga yang than stated in the joint financing agreement with the
ditetapkan dalam perjanjian pembiayaan bersama joint financing provider.
dengan penyedia fasilitas pembiayaan bersama.
Piutang pembiayaan bersama “without recourse” Joint financing receivables without recourse are
disajikan di laporan posisi keuangan konsolidasian presented on a net basis in the consolidated
secara bersih. Pendapatan pembiayaan konsumen statement of financial position. Consumer financing
dan beban bunga yang terkait dengan pembiayaan income and interest expenses related to joint
bersama “without recourse” disajikan secara bersih financing without recourse are presented on a net
sebagai laba/rugi. basis as profit/loss.
Jaminan kendaraan yang dikuasai kembali oleh Net realisable value of repossessed vehicle obtained
Entitas Anak dinyatakan berdasarkan nilai terendah by the Subsidiaries are stated at the lower of related
antara nilai tercatat piutang pembiayaan konsumen consumer financing receivables’ carrying value or net
atau nilai realisasi bersih. Selisih antara nilai tercatat realisable value of the repossessed assets. The
dan nilai realisasi bersih dicatat sebagai cadangan difference between the carrying value and net
kerugian penurunan nilai dan dibebankan sebagai realisable value is recorded as allowance for
laba/rugi. Dalam upaya penyelesaian piutang, impairment losses and is charged as profit/loss. In
konsumen memberi kuasa kepada Entitas Anak untuk case of default, the consumer gives the right to the
menjual kendaraan ataupun melakukan tindakan Subsidiaries to sell repossessed assets or take any
lainnya bila terjadi wanprestasi terhadap perjanjian other actions to settle the outstanding consumer
pembiayaan. Jika harga jual jaminan kendaraan lebih financing receivables. If the sale price of the
rendah dibandingkan dengan nilai saldo piutang repossessed vehicles is lower compared to the
pembiayaan, maka selisih tersebut dibebankan consumer financing receivable, then the difference is
sebagai laba/rugi. Apabila harga jual jaminan charged as profit/loss. If the sale price of the
kendaraan lebih tinggi dibandingkan dengan nilai repossessed vehicles is higher compared to the
saldo piutang pembiayaan, maka selisih tersebut akan consumer financing receivable, then the difference will
dikembalikan kepada konsumen. be paid back to the consumers.

q. Piutang sewa pembiayaan q. Financing lease receivables
Piutang sewa pembiayaan Entitas Anak The Subsidiaries financing lease receivables are
diklasifikasikan sebagai biaya perolehan diamortisasi. classified as amortised cost. Refer to Note 2f for the
Lihat Catatan 2f untuk kebijakan akuntansi atas biaya accounting policy of amortised cost.
Pada saat pengakuan awal, piutang sewa pembiayaan Financing lease receivables are initially measured at
diukur pada nilai wajar atau nilai wajar fair value or fair value plus/minus transaction costs
ditambah/dikurangi biaya dan pendapatan transaksi. and transaction income. Subsequently, financing
Selanjutnya, piutang sewa pembiayaan diukur dengan lease receivable is measured at amortised cost using
biaya perolehan diamortisasi menggunakan metode the effective interest rate method. Unearned lease
suku bunga efektif. Pendapatan sewa pembiayaan income is the difference between total installments to
yang belum diakui merupakan selisih antara jumlah be received and total financing which is recognised as
keseluruhan pembayaran angsuran yang akan income over the term of the contract using effective
diterima dengan jumlah pokok pembiayaan yang akan interest rate.
diakui sebagai penghasilan sesuai dengan jangka
waktu kontrak dengan menggunakan metode tingkat
suku bunga efektif.
Kontrak sewa pembiayaan yang dilakukan Entitas The lease contracts entered into by the Subsidiaries
Anak dikategorikan sebagai ‘direct financing lease’ are classified as direct financing leases and
dan pendapatan sewa pembiayaan tersebut accordingly lease income is reported under the
dilaporkan menurut metode pembiayaan. Dengan financing method. Under this method, the excess of
metode ini, kelebihan dari piutang sewa pembiayaan gross lease receivables plus guaranteed residual
dan nilai sisa yang terjamin atas harga perolehan aset value of the assets is recorded as unearned lease
yang bersangkutan dicatat sebagai pendapatan sewa income, which is recognised as lease income over the
pembiayaan yang ditangguhkan, yang akan diakui term of the lease contracts at a constant periodic rate
sebagai pendapatan sesuai dengan jangka waktu of return on the investment commencing in the month
kontrak sewa pembiayaan berdasarkan suatu tarif of the lease contract is executed.
pengembalian konstan berkala atas nilai investasi
bersih terhitung sejak sewa pembiayaan tersebut
ditandatangani.
r. Tagihan dan liabilitas akseptasi r. Acceptance receivables and payables
Tagihan akseptasi diklasifikasikan sebagai biaya Acceptance receivables are classified as amortised
perolehan diamortisasi. Lihat Catatan 2f untuk cost. Refer to Note 2f for the accounting policy of
kebijakan akuntansi atas biaya perolehan diamortisasi. amortised cost.
Liabilitas akseptasi diklasifikasikan sebagai liabilitas Acceptance payables are classified as financial
keuangan yang diukur dengan biaya perolehan liabilities at amortised cost. Refer to Note 2f for the
diamortisasi. Lihat Catatan 2f untuk kebijakan accounting policy for financial liabilities are measured
akuntansi atas liabilitas keuangan yang diukur dengan at amortised cost.
biaya perolehan diamortisasi.


s. Penyertaan s. Investments
Penyertaan merupakan penanaman dana dalam Investments represent share investments in non-
bentuk saham pada perusahaan non- publik yang public companies engaged in the financial services
bergerak di bidang jasa keuangan untuk tujuan jangka industry held for the long term, which is recorded at
panjang, yang dicatat pada nilai estimasinya yaitu estimated value being its acquisition cost.
harga perolehan.
t. Aset tetap dan penyusutan t. Fixed assets and depreciation
Tanah dan bangunan disajikan sebesar nilai wajar, Land and buildings are presented at fair value less
dikurangi akumulasi penyusutan untuk bangunan dan accumulated depreciation for buildings and
akumulasi rugi penurunan nilai (jika ada). Penilaian accumulated impairment loss (if any). Valuation of
terhadap tanah dan bangunan dilakukan oleh penilai land and buildings are performed by certified external
independen eksternal. Penilaian atas aset tersebut independent valuers. Valuations are performed with
dilakukan secara berkala (setiap 3 - 5 tahun) untuk sufficient regularity (every 3 - 5 years) to ensure that
memastikan bahwa nilai wajar aset yang direvaluasi the fair value of revalued asset does not differ
tidak berbeda secara material dengan nilai materially from its carrying amount. Any accumulated
tercatatnya. Akumulasi penyusutan pada tanggal depreciation at the date of revaluation is eliminated
revaluasi dieliminasi terhadap nilai tercatat bruto aset against the gross carrying amount of the asset, and
dan nilai netonya disajikan kembali sebesar nilai the net amount is restated to the revalued amount of
revaluasian aset tetap. the asset.
Selisih penilaian kembali aset tetap dikreditkan ke The difference resulting from the revaluation of such
akun “cadangan revaluasi aset tetap” yang disajikan fixed assets is credited to the “reserve on revaluation
pada bagian ekuitas. Surplus revaluasi aset tetap of fixed asset” account presented in the equity
selanjutnya dialihkan kepada saldo laba saat aset section. The revaluation surplus of fixed assets is
tersebut dihentikan pengakuannya. transferred directly to retained earnings when the
asset is derecognised.
Aset tetap, selain tanah dan bangunan, diakui sebesar Fixed assets besides land and buildings are
harga perolehan setelah dikurangi akumulasi recognised at cost less accumulated depreciation.
penyusutan.
Harga perolehan mencakup semua pengeluaran yang Historical cost includes expenditure that is directly
terkait secara langsung dengan perolehan aset tetap. attributable to the acquisition of fixed assets.
Tanah tidak disusutkan. Land is not depreciated.
Penyusutan aset tetap selain tanah dihitung dengan Depreciation on fixed assets other than land are
menggunakan metode garis lurus untuk calculated on the straight-line method to allocate their
mengalokasikan harga perolehan atau nilai setelah cost or revalued amount to their residual values over
penilaian kembali mencapai nilai sisa sepanjang their estimated useful lives as follows:
estimasi masa manfaatnya sebagai berikut:
Tahun/Years Tarif/Rates
Bangunan 20 5% Buildings
Renovasi bangunan milik sendiri 5 20% Renovation of owned buildings
Instalasi (listrik, penyejuk udara, Installations (electricity, air
telepon, telex) 5 20% conditioning,telephone, telex)
Perlengkapan dan perabot kantor 5 20%
Office equipment and furniture
Kendaraan bermotor 8 13% Motor vehicle
Anjungan Tunai Mandiri (ATM) 10 10% Automatic Teller Machines (ATMs)

t. Aset tetap dan penyusutan (lanjutan) t. Fixed assets and depreciation (continued)
Apabila nilai tercatat aset lebih besar dari nilai yang When the carrying amount of an asset is greater than
dapat diperoleh kembali, nilai tercatat aset diturunkan its estimated recoverable amount, it is written down
menjadi sebesar nilai yang dapat diperoleh kembali, immediately to its recoverable amount, which is
dengan menggunakan nilai tertinggi antara harga jual determined as the higher of net selling price or value
neto dan nilai pakai. in use.
Apabila aset tetap tidak digunakan lagi atau dijual, When assets are retired or disposed, their costs and
maka nilai perolehan dan akumulasi penyusutannya the related accumulated depreciation are eliminated
dihapuskan dari laporan keuangan konsolidasian. from the consolidated financial statements. The
Keuntungan atau kerugian yang terjadi, diakui sebagai resulting gains or losses are recognised as related
laba/rugi periode terjadinya. period’s profit/loss.
Biaya pemeliharaan dan perbaikan dicatat sebagai Maintenance and repair cost are charged as an
beban pada saat terjadinya. Pengeluaran yang expense when incurred. Expenditure that extends the
memperpanjang masa manfaat aset dikapitalisasi dan useful life of assets is capitalised and depreciated.
disusutkan.
Aset dalam penyelesaian merupakan aset yang masih Assets in progress consist of assets that are still in
dalam proses penyelesaian dan belum siap untuk progress of completion and not yet ready for use and
digunakan, serta dimaksudkan untuk dipergunakan are intended to be used in business activity. This
dalam kegiatan usaha. Aset ini dicatat sebesar biaya account is recorded based on the amount paid.
yang telah dikeluarkan.
u. Aset takberwujud u. Intangible assets
Aset takberwujud diakui jika, dan hanya jika, biaya Intangible assets are recognised if, and if only when
perolehan aset tersebut dapat diukur secara andal dan its cost can be measured reliably and it is probable
kemungkinan besar Bank akan memperoleh manfaat that expected future benefits that are attributable to it
ekonomis masa depan dari aset tersebut. Aset will flow to the Bank. Intangible assets consist of
takberwujud terdiri dari perangkat lunak yang dibeli computer software that are purchased by the Bank.
Bank.
Perangkat lunak yang dibeli oleh Bank dicatat sebesar Software purchased by the Bank is recorded at cost
biaya perolehan dikurangi akumulasi amortisasi. less accumulated amortisation. Amortisation method,
Metode amortisasi, estimasi masa manfaat dan nilai estimated useful life and residual value is reviewed at
residual ditelaah pada setiap akhir tahun pelaporan end of reporting period and adjusted if necessary. The
dan disesuaikan jika dianggap tepat. Masa manfaat useful lives of software is between five to fifteen
perangkat lunak adalah lima hingga lima belas tahun. years. The amortisation method used is straight line
Metode amortisasi yang digunakan adalah garis lurus. method.
Tidak terdapat aset takberwujud yang tidak dapat There are no intangible assets which its economic life
diestimasi umur ekonomisnya. can not be estimated.

v. Aset yang diambil alih v. Foreclosed assets
Aset yang diambil alih (AYDA) adalah aset yang Foreclosed assets represent assets acquired by Bank
diperoleh Bank CIMB Niaga dan Entitas Anak, baik CIMB Niaga and Subsidiaries, both from auction and
melalui pelelangan maupun diluar pelelangan non-auction based on voluntary transfer by the
berdasarkan penyerahan secara sukarela oleh pemilik debtors or based on debtors’ approval to sell without
agunan atau berdasarkan kuasa untuk menjual diluar bidding the collateral where the debtors could not
lelang dari pemilik agunan dalam hal debitur tidak fulfill their obligations to Bank CIMB Niaga and
memenuhi kewajibannya kepada Bank CIMB Niaga Subsidiaries. Foreclosed assets represent loan
dan Entitas Anak. AYDA merupakan jaminan kredit collateral acquired in settlement of loans. Bank CIMB
yang diberikan yang telah diambil alih sebagai bagian Niaga and Subsidiaries has policy to sell foreclosed
dari penyelesaian kredit yang diberikan. Bank CIMB assets to settle debtors’ liabilities.
Niaga dan Entitas Anak memiliki kebijakan untuk
selalu berusaha menjual AYDA untuk menyelesaikan
sisa kewajiban debitur.
AYDA diakui sebesar nilai bersih yang dapat Foreclosed assets are recognised at their net
direalisasi (net realisable value), yaitu nilai wajar realisable value. Net realisable value is the fair value
agunan setelah dikurangi estimasi biaya pelepasan. of the foreclosed assets less estimated cost of
Kelebihan saldo kredit yang diberikan yang belum liquidating the foreclosed assets. Any excess of the
dilunasi oleh peminjam di atas nilai dari AYDA, loan balance over the value of the foreclosed assets,
dibebankan terhadap cadangan kerugian penurunan which is not recoverable from the borrower, is
nilai kredit yang diberikan. charged to the allowance for impairment losses of
loans and receivables.
Biaya pemeliharaan atas AYDA yang terjadi setelah Maintenance costs of foreclosed assets subsequent to
pengambilalihan atau akuisisi aset dibebankan the foreclosure or acquisition of the assets are
sebagai laba/rugi pada saat terjadinya. Keuntungan charged as current year profit/loss as incurred. Gains
atau kerugian dari penjualan aset yang diambil alih or losses from sale of foreclosed assets are charged
diakui sebagai laba/rugi periode berjalan. as current period profit/loss as incurred.
w. Beban dibayar dimuka dan aset lain-lain w. Prepaid expenses and other assets
Beban dibayar dimuka merupakan pembayaran Prepaid expenses are payments made to other
kepada pihak lain yang telah dilakukan namun belum parties but have not been recognised as expense at
merupakan beban pada saat pembayaran dilakukan. the time of payment. Prepaid expenses will be used
Beban dibayar dimuka akan digunakan untuk aktivitas for Bank CIMB Niaga’s and Subsidiaries activities in
Bank CIMB Niaga dan Entitas Anak di masa the future. Prepaid expenses are recognised as
mendatang. Beban dibayar dimuka akan diakui expenses during the amortisation in accordance with
sebagai beban pada saat diamortisasi sesuai dengan the expected period of benefit.
masa manfaatnya.
Termasuk dalam beban dibayar dimuka adalah beban Included in prepaid expenses are insurance expense
asuransi dan beban sewa yang tidak memenuhi and leases that not fullfill requirement of SFAS 73
ketentuan PSAK 73 tentang sewa. Lihat catatan 2x (Leases). See note 2x for leases accounting policy.
untuk kebijakan akuntansi atas sewa.
Termasuk di dalam aset lain-lain antara lain adalah Included in other assets are amongst others security
jaminan keanggotaan dan uang muka jaminan. and membership deposits.
Jaminan keanggotaan dan uang muka jaminan dicatat Security and membership deposits are recorded
sebesar harga perolehan dan diamortisasi based on cost and amortised based on the expected
berdasarkan masa berlakunya. period of benefit.

x. Sewa x. Leases
Kebijakan akuntansi sewa menggunakan model Accounting polices for lease using a single lessee
akuntansi penyewa tunggal dan mensyaratkan accounting model and requires a lessee to recognise
penyewa untuk mengakui aset dan liabilitas untuk assets and liabilities for all leases with the exemptions
semua sewa dengan pengecualian sewa jangka of short-term leases with tenor 12 months or less and
pendek dengan jangka waktu 12 bulan atau kurang the underlying asset without purchasing options is of
tanpa opsi pembelian dan sewa dengan nilai rendah. low value. A lessee is required to recognise a right-of-
Penyewa diharuskan untuk mengakui aset hak-guna use asset representing its right to use the underlying
yang mewakili haknya untuk menggunakan aset leased asset and a lease liability representing its
sewaan dan liabilitas sewa yang mewakili obligation to make lease payments.
kewajibannya untuk melakukan pembayaran sewa.
Dampak penerapan PSAK 73 adalah Bank sebagai The impact of PSAK 73 at the Bank is where the Bank
penyewa atas kontrak sewa properti. Bank is a lessee in property lease contracts. The Bank has
menetapkan PSAK 73 secara simplified approach elected the simplified approach of transition and did
dalam melakukan transisi dan tidak melakukan not restate comparative information.
penyajian kembali untuk informasi komparatif.
Aset hak–guna ROU assets
Aset hak–guna pada awalnya diukur berdasarkan ROU assets are initially measured at cost comprising
biaya yang terdiri dari: the following:
- Jumlah pengukuran awal liabilitas sewa - The amount of the initial measurement of lease
liability;
- Nilai bersih dari setiap pembayaran sewa yang - Net value of any lease payments than made at or
dilakukan pada/sebelum tanggal mulai sewa before the commencement date with any lease
dengan aset insentif sewa yang diterima. incentive received
- Biaya langsung awal; dan - Any initial direct costs; and
- Biaya penonaktifan atau pemulihan - Decommissioning or restoration costs.
Aset hak – guna yang bukan properti investasi ROU assets that are not investment properties are
selanjutnya diukur pada biaya perolehan, dikurangi subsequently measured at cost, less accumulated
akumulasi penyusutan dan kerugian penurunan nilai depreciation and impairment loss (if any). The ROU
(jika ada). Aset hak – guna pada umumnya disusutkan assets are generally depreciated over the shorter of
mana yang lebih singkat selama masa manfaat aset the asset’s useful life and the lease term on a straight-
dan masa sewa pada basis garis lurus. Jika Bank line basis. If the Bank is reasonably certain to exercise
yakin akan melakukan opsi pembelian, aset hak – a purchase option, the ROU asset is depreciated over
guna disusutkan selama masa manfaat aset the underlying asset’s useful life. In addition, the ROU
pendasar. Selain itu, aset hak – guna akan assets are adjusted for certain re-measurement of the
disesuaikan untuk pengukuran kembali liabilitas sewa lease liabilities. ROU assets are presented in the
tertentu. Aset hak – guna disajikan dalam pos yang same item with item that are used to present the
sama dengan pos yang digunakan untuk menyajikan underlying asset as if those assets are owned.
aset pendasar serupa jika aset tersebut dimiliki.

x. Sewa (lanjutan) x. Leases (continued)
Liabilitas Sewa Lease Liabilities
Liabilitas sewa awalnya diukur pada nilai kini dari Lease liabilities are initially measured at the present
pembayaran sewa yang tidak dibayarkan pada tanggal value of the lease payments that are not paid at that
tersebut. date.
Pembayaran sewa termasuk: The lease payments include the followings:
- Pembayaran tetap (termasuk pembayaran tetap - Fixed payments (including in-substance fixed
secara substansi), dikurangi piutang insentif sewa; payments), less any lease incentive receivable;
- Jumlah yang diharapkan akan dibayarkan oleh - Amounts expected to be payable by the Bank under
Bank dengan jaminan nilai sisa; residual value guarantees;
- Harga pelaksanaan opsi pembelian dan - The exercise price of a purchase and extension
perpanjangan jika Bank cukup yakin untuk options if the Bank is reasonably certain to exercise
menggunakan opsi tersebut; dan that option; and
- Pembayaran pinalti untuk mengakhiri sewa, jika - Payments of penalties for terminating the lease, if
jangka waktu sewa mencerminkan Bank the lease term reflects the Bank exercising that
melaksanakan opsi tersebut. option.
Pembayaran sewa didiskontokan menggunakan Lease payments are discounted using the interest rate
tingkat bunga implisit. Jika tingkat bunga tersebut tidak implicit. If that rate cannot be determined, an
dapat ditentukan, suku bunga pinjaman inkremental incremental borrowing rate is used in determining the
digunakan dalam menentukan tingkat diskonto yang discount rate which the interest rate that the Bank
merupakan tingkat bunga yang harus dibayar oleh would have to pay to borrow over a similar term, the
Bank untuk meminjam dalam jangka waktu yang funds necessary to obtain the asset.
sama, dana yang diperlukan untuk memperoleh aset.
Pembayaran sewa dialokasikan antara pokok dan Lease payments are allocated between principal and
biaya keuangan. Biaya keuangan akan dibebankan finance cost. The finance cost is charged to profit or
pada laba rugi selama periode sewa sehingga loss over the lease period so as to produce a constant
menghasilkan tingkat bunga periodik yang konstan periodic rate of interest on the remaining balance of
atas saldo liabilitas yang tersisa untuk setiap periode. the liability for each period.
Bank menyajikan liabilitas sewa sebagai item liabilitas Bank presents the lease liabilities as a other-liabilities
lainnya dalam laporan posisi keuangan. Beban bunga in the statement of financial position. Interest expense
atas liabilitas sewa disajikan sebagai bagian on the lease liability is presented under net interest
pendapatan bunga bersih dalam laporan laba rugi. income in the statement of income.
Aset bernilai rendah adalah sewa yang aset Low-value assets are lease which the underlying
pendasarnya bernilai dengan batasan materialitas assets is valued with a materiality threshold used of
yang dipakai adalah Rp 70. Yang dimaksud aset Rp 70. Underlying low-value assets are when lessee
pendasar bernilai rendah adalah ketika lessee menilai assesses the value of the underlying assets based on
aset pendasar berdasarkan nilai aset ketika aset the value of new assets, regardless the age of the
tersebut baru, tanpa memperhatikan umur aset yang leased asset and is carried out on an absolute basis.
disewakan dan dilakukan atas dasar absolut. Penilaian Assessment is not affected by the size, nature or
tidak dipengaruhi oleh ukuran, sifat, atau keadaaan circumstances of the lessees.
lessee.
Pembayaran terkait dengan sewa jangka pendek dan Payments associated with short-term and all leases of
semua sewa untuk aset bernilai rendah diakui low-value assets are recognised on a straight-line
berdasarkan metode garis lurus sebagai beban dalam basis as an expense min statement of profit/loss.
laporan laba/rugi.

y. Liabilitas segera y. Obligations due immediately
Liabilitas segera adalah liabilitas Bank kepada pihak lain Obligations due immediately represent Bank liabilities
yang sifatnya wajib segera dibayarkan sesuai dengan to other parties that immediately paid in accordance
perjanjian yang ditetapkan sebelumnya. with terms of the relevant agreements.
Liabilitas segera disajikan sebesar biaya perolehan yang Obligations due immediately are presented at the
diamortisasi. Lihat Catatan 2f untuk kebijakan akuntansi amortised cost. Refer to Note 2f for the accounting
atas liabilitas keuangan yang diukur dengan biaya policy for financial liabilities measured at amortised
perolehan diamortisasi. cost.
z. Simpanan nasabah dan simpanan dari bank lain z. Deposits from customers and deposits from other
banks
Simpanan nasabah adalah dana yang dipercayakan oleh Deposits from customers are the funds placed by
masyarakat (selain bank) kepada Bank CIMB Niaga customers (excluding banks) with Bank CIMB Niaga
berdasarkan perjanjian penyimpanan dana. Termasuk based on fund deposit agreements. Included in this
dalam pos ini adalah giro, tabungan, deposito berjangka, account are demand deposits, saving deposits, time
sertifikat deposito dan bentuk lain yang dapat deposits, certificates of deposits, and other forms
dipersamakan dengan itu. which are similar.
Simpanan dari bank lain terdiri dari liabilitas terhadap Deposits from other banks represent liabilities to
bank lain, baik di dalam maupun luar negeri, dalam domestic and overseas banks, in the form of demand
bentuk giro, interbank call money, deposito berjangka, deposits, inter-bank call money, time deposits, and
dan sertifikat deposito. certificates of deposit.
Simpanan dari nasabah dan dari bank lain Deposits from customers and other banks are
diklasifikasikan sebagai liabilitas keuangan yang diukur classified as financial liabilities measured at amortised
dengan biaya perolehan diamortisasi. Lihat Catatan 2f cost. Refer to Note 2f for the accounting policy for
untuk kebijakan akuntansi atas liabilitas keuangan yang financial liabilities measured at amortised cost.
diukur dengan biaya perolehan diamortisasi.
aa. Efek-efek yang diterbitkan aa. Marketable securities issued
Efek-efek yang diterbitkan adalah obligasi yang Marketable securities issued is the issuance of bond
diterbitkan dan diklasifikasikan sebagai liabilitas which is classified as financial liabilities measured at
keuangan yang diukur dengan biaya perolehan amortised cost (refer to Note 2f for the accounting
diamortisasi (lihat Catatan 2f untuk kebijakan policy for financial liabilities at amortised cost).
akuntansi atas liabilitas keuangan yang diukur dengan
biaya perolehan diamortisasi).
Biaya transaksi yang timbul sehubungan dengan Transaction cost in relation with the marketable
penerbitan efek-efek dikurangkan dari hasil penerbitan securities issued is deducted from the related
efek-efek bersangkutan. Selisih antara hasil emisi marketable securities issued. Any difference between
bersih dengan nilai nominal obligasi diakui sebagai bond issuance costs and nominal of bond is
diskonto yang diamortisasi selama umur obligasi. recognised as discount and will be amortised based
on bond’s period.
Sukuk Mudharabah yang diterbitkan disajikan sebesar Sukuk mudharabah issued are stated at their nominal
nilai nominal. Biaya-biaya yang timbul dari penerbitan value. Issuance costs of the notes is recorded as
surat berharga dicatat sebagai beban yang deferred charges which presented under "Other
ditangguhkan yang disajikan dalam akun “Aset lain- Assets-others" and amortised using straight line
lain - lainnya” dan diamortisasi secara garis lurus method over the period of the notes.
selama jangka waktu surat berharga.

ab. Pinjaman yang diterima dan pinjaman subordinasi ab. Borrowings and subordinated loans
Pinjaman yang diterima termasuk pinjaman yang Borrowings include borrowings received by
diterima Entitas Anak dari berbagai bank dan institusi Subsidiaries from various banks and financial
keuangan, termasuk fasilitas joint financing. Fasilitas institutions, including joint financing facilities. Joint
joint financing with recourse oleh Entitas Anak financing facilities with recourse by Subsidiaries are
disajikan secara gross, yaitu sebesar porsi kredit yang presented gross, i.e. loan portion financed by
dibiayai oleh entitas anak kepada konsumen dan bank Subsidiaries to customer and Bank recorded the loan
mencatat porsi kredit yang diberikan sebesar porsi portion disbursed in the amount financed by the Bank.
yang dibiayai oleh bank.
Pada pengukuran awal pinjaman diterima dan Borrowings and subordinated loans are initially
pinjaman subordinasi disajikan sebesar nilai wajar presented at fair value less directly attributable
dikurangi dengan biaya transaksi yang dapat transaction costs.
diatribusikan langsung dengan perolehan/penerbitan
pinjaman dan obligasi subordinasi.
Pinjaman yang diterima dan pinjaman subordinasi Borrowings and subordinated loans are classified as
diklasifikasikan sebagai liabilitas keuangan yang financial liabilities measured at amortised cost (refer
diukur dengan biaya perolehan diamortisasi (lihat to Note 2f for the accounting policy for financial
Catatan 2f untuk kebijakan akuntansi atas liabilitas liabilities measured at amortised cost).
keuangan yang diukur dengan biaya perolehan
diamortisasi).
ac. Pendapatan dan beban bunga ac. Interest income and expense
Pendapatan dan beban bunga untuk semua instrumen Interest income and expense for all interest bearing
keuangan dengan interest bearing dicatat dalam financial instruments are recorded within interest
pendapatan bunga dan beban bunga menggunakan income and interest expense using the effective
metode suku bunga efektif. interest rate method.
Metode suku bunga efektif adalah metode yang The effective interest rate method is a method of
digunakan untuk menghitung biaya perolehan calculating the amortised cost of a financial asset or a
diamortisasi dari aset keuangan atau liabilitas financial liability and method of allocating the interest
keuangan dan metode untuk mengalokasikan income or interest expense over the relevant period.
pendapatan bunga atau beban bunga selama periode
yang relevan.


ac. Pendapatan dan beban bunga (lanjutan) ac. Interest income and expense (continued)
Suku bunga efektif adalah suku bunga yang secara The effective interest rate is the rate that exactly
tepat mendiskontokan estimasi pembayaran atau discounts estimated future cash payments or receipts
penerimaan kas di masa datang selama perkiraan through the expected life of the financial instrument
umur dari instrumen keuangan, atau bilamana tepat, or, when appropriate, a shorter period to the net
digunakan periode yang lebih singkat untuk carrying amount of the financial asset or financial
memperoleh nilai tercatat bersih dari aset keuangan liability. When calculating the effective interest rate,
atau liabilitas keuangan. Pada saat menghitung suku Bank and Subsidiaries estimates cash flows
bunga efektif, Bank dan Entitas Anak mengestimasi considering all contractual terms of the financial
arus kas dengan mempertimbangkan seluruh instrument for example, prepayment options, call
persyaratan kontraktual dalam instrumen keuangan option, and other similar options, but does not
tersebut seperti pelunasan dipercepat, opsi beli (call consider future credit losses. The calculation includes
option), dan opsi serupa lainnya, namun tidak all fees, commissions, and other fees paid or received
mempertimbangkan kerugian kredit di masa datang. between parties to the contract that are an integral
Perhitungan ini mencakup seluruh komisi, provisi, dan part of the effective interest rate, transaction costs,
bentuk lain yang dibayarkan atau diterima oleh para and all other premiums or discounts.
pihak dalam kontrak yang merupakan bagian tak
terpisahkan dari suku bunga efektif, biaya transaksi,
dan seluruh premi atau diskon lainnya.
Jika aset keuangan atau kelompok aset keuangan Once a financial asset or a group of similar financial
serupa mengalami kerugian penurunan nilai, maka assets has been impacted of impairment, interest
pendapatan bunga yang diperoleh setelahnya diakui income is recognised on the unimpairment portion
atas bagian aset keuangan yang tidak mengalami using the rate of interest used to discount the future
kerugian penurunan nilai, berdasarkan suku bunga cash flows for the purpose of measuring the
yang digunakan untuk mendiskonto arus kas masa impairment loss.
datang dalam menghitung kerugian penurunan nilai.
Pendapatan bunga dan beban bunga diakui Interest income and expense are recognised using
berdasarkan metode suku bunga efektif. effective interest rate method.
Pendapatan bunga atas kredit yang diberikan atau Interest income on loans or other earning assets that
aset produktif lainnya yang diklasifikasikan sebagai classified as non-performing is recognised at the time
bermasalah diakui pada saat pendapatan tersebut the interest is received. When a financial asset is
diterima. Pada saat aset keuangan diklasifikasikan classified as non-performing, any interest income
sebagai bermasalah, bunga yang telah diakui tetapi previously recognised but not yet collected is reversed
belum tertagih akan dibatalkan pengakuannya. against interest income. The reversed interest income
Selanjutnya bunga yang dibatalkan tersebut diakui is recognised as a contingent receivable.
sebagai tagihan kontinjensi.
Pendapatan syariah terdiri dari keuntungan Sharia income represents profit from murabahah,
murabahah, pendapatan ijarah muntahiyah bittamlik, ijarah muntahiyah bittamlik income, mudharabah and
bagi hasil pembiayaan mudharabah dan musyarakah, musyarakah financing profit sharing income and
serta pendapatan qardh. qardh income.
Keuntungan murabahah dan pendapatan ijarah Murabahah and ijarah muntahiyah bittamlik income is
muntahiyah bittamlik diakui selama periode akad recognised over the period of the agreement based
berdasarkan konsep akrual. Pendapatan bagi hasil on accrual basis. Mudharabah and musyarakah
pembiayaan mudharabah dan musyarakah diakui income is recognised when cash is received or in a
pada saat diterima atau dalam periode terjadinya hak period where the right of revenue sharing is due
bagi hasil sesuai porsi bagi hasil (nisbah) yang based on agreed option. Qardh income is recognised
disepakati. Pendapatan dari qardh diakui pada saat upon receipt.
diterima.

ac. Pendapatan dan beban bunga (lanjutan) ac. Interest income and expense (continued)
Hak pihak ketiga atas bagi hasil milik nasabah Third parties share on the return of fund owner’s
didasarkan pada prinsip mudharabah. Pendapatan share is based on the principle of Mudharabah. The
yang dibagikan adalah pendapatan yang telah profit sharing is determined on a cash basis.
diterima. Pembagian laba dilakukan berdasarkan Distribution of profit sharing is based on profit sharing
prinsip bagi hasil yaitu dihitung dari pendapatan yang principle which calculated from the gross profit.
diterima berupa laba bruto (gross profit margin).
Pendapatan bunga atas aset keuangan bank yang Interest income for financial assets held at either fair
diukur dengan nilai wajar melalui penghasilan value through other comprehensive income or
komprehensif lain atau biaya perolehan diamortisasi amortised cost and interest expense on all financial
dan beban bunga atas perolehan seluruh liabilitas liabilities held at amortised cost are recognised in
keuangan yang diukur dengan biaya perolehan profit or loss using the effective interest method.
diamortisasi, diakui pada laba rugi berdasarkan suku
bunga efektif.
Pendapatan bunga atas aset keuangan yang diukur Interest income for financial assets that are either
dengan nilai wajar melalui penghasilan komprehensif held at fair value through other comprehensive
lain atau biaya amortisasi yang mengalami penurunan income or amortised cost that have become credit
nilai setelah pengakuan awal (tahapan 3) diakui impaired subsequent to initial recognition (stage 3) is
berdasarkan suku bunga efektif kredit yang recognised using the credit adjusted effective interest
disesuaikan. Tingkat bunga ini dihitung dengan cara rate. This rate is calculated in the same manner as
yang sama dalam perhitungan suku bunga efektif the effective interest rate except that expected credit
kecuali bahwa cadangan kerugian kredit ekspektasian losses are included in the expected cash flows.
sudah termasuk dalam arus kas ekspektasian. Oleh Interest income is therefore recognised on the
karenanya, pendapatan bunga diakui atas aset amortised cost of the financial asset including
keuangan dalam klasifikasi biaya perolehan expected credit losses. Should the credit risk on a
diamortisasi termasuk kerugian kredit ekspektasian. stage 3 financial asset improve such that the financial
Dalam kondisi risiko kredit atas aset keuangan asset is no longer considered credit impaired, interest
tahapan 3 mengalami perbaikan sehingga aset income recognition reverts to a computation based on
keuangan tidak lagi dipertimbangkan mengalami the rehabilitated the carrying value of the financial
penurunan nilai, pengakuan pendapatan bunga assets – gross.
dihitung berdasarkan nilai tercatat bruto aset
keuangan.
ad. Pendapatan provisi dan komisi ad. Fees and commissions income
Provisi dan komisi yang berkaitan langsung dengan Fees and commissions income directly related to
kegiatan pemberian kredit diakui sebagai lending activities, are recognised as a part/(deduction)
bagian/(pengurang) dari biaya perolehan kredit dan of credit acquisition cost and will be recognised as
akan diakui sebagai pendapatan bunga dengan cara interest income by amortising the carrying value of
diamortisasi berdasarkan metode suku bunga efektif. loan with effective interest rate method.
Pendapatan provisi dan komisi yang tidak berkaitan Fees and commissions income which are not related
dengan kegiatan pemberian kredit atas suatu jangka to lending activities on a specific period are
waktu diakui sebagai pendapatan pada saat terjadinya recognised as revenues on the transaction.
transaksi.

ae. Pendapatan dan beban operasional lainnya ae. Other operating income and expenses
Beban tenaga kerja Personnel expenses
Beban tenaga kerja meliputi beban berupa gaji Personnel expenses include expenses related with
karyawan, bonus, lembur, tunjangan, dan pelatihan. salaries for employees, bonuses, overtime,
allowances, and training.
Beban umum dan administrasi General and administrative expenses
Beban umum dan administrasi merupakan beban General and administrative expenses represent
yang timbul sehubungan dengan aktivitas kantor dan expenses which related to office activities and Bank
operasional Bank CIMB Niaga dan Entitas Anak. CIMB Niaga and Subsidiaries’ operational activities.
Seluruh pendapatan dan beban yang terjadi All of these income and expenses are recorded as
dibebankan sebagai laba/rugi pada saat terjadinya. profit/loss when incurred.
af. Perpajakan af. Taxation
Beban pajak kini dihitung berdasarkan peraturan The current income tax charge is calculated on the
perpajakan yang berlaku atau yang secara substantif basis of the tax laws enacted or substantively enacted
berlaku pada akhir periode pelaporan, di negara at the end of the reporting period in the countries
dimana perusahaan dan entitas anak beroperasi dan where the company’s subsidiaries and associates
menghasilkan pendapatan kena pajak. Manajemen operate and generate taxable income. Management
secara periodik mengevaluasi posisi yang dilaporkan periodically evaluates positions taken in tax returns
di Surat Pemberitahuan Tahunan (SPT) sehubungan with respect to situations in which applicable tax
dengan situasi di mana aturan pajak yang berlaku regulation is subject to interpretation. It establishes
membutuhkan interpretasi. Jika perlu, manajeman provision where appropriate on the basis of amounts
menentukan provisi berdasarkan jumlah yang expexted to be paid to the tax authorities.
diharapkan akan dibayar kepada otoritas pajak.
Pajak penghasilan tangguhan diakui sepenuhnya, Deferred income tax is provided in full, using the
dengan menggunakan metode liabilitas untuk semua liability method, on temporary differences which
perbedaan temporer yang berasal dari selisih antara arise from the difference between the tax bases
dasar pengenaan pajak aset dan liabilitas dengan nilai of assets and liabilities and their carrying
tercatatnya pada laporan keuangan konsolidasian. amounts in the consolidated financial statements.

af. Perpajakan (lanjutan) af. Taxation (continued)
Pajak penghasilan tangguhan diukur dengan Deferred income tax is determined using tax rates
menggunakan tarif pajak (dan hukum) yang sudah (and laws) that have been enacted or
diberlakukan atau secara substantif berlaku pada substantially enacted by the end of the reporting
akhir periode pelaporan dan diekspektasikan period and are expected to apply when the
digunakan ketika aset pajak tangguhan yang related deferred income tax asset is realised or
berhubungan direalisasi atau liabilitas pajak the deferred income tax liability is settled.
tangguhan diselesaikan. Aset pajak tangguhan diakui Deferred tax assets are recognised only if it is
hanya jika kemungkinan jumlah penghasilan kena probable that future taxable amounts will be
pajak dimasa depan akan memadai untuk available to utilise those temporary differences and
dikompensasi dengan perbedaan temporer yang losses.
masih dapat dimanfaatkan.
Aset dan liabilitas pajak penghasilan tangguhan Deferred tax assets and liabilities are offset when
dapat saling hapus apabila terdapat hak yang there is a legally enforceable right to offset current
berkekuatan hukum untuk melakukan saling tax assets and liabilities and when the deferred tax
hapus antara aset pajak kini dengan liabilitas alances relate to the same taxation authority.
pajak kini dan apabila aset dan liabilitas pajak Current tax assets and tax liabilities are offset
penghasilan tangguhan dikenakan oleh otoritas where the entity has a legally enforceable right to
perpajakan yang sama. Aset pajak kini dan offset and intends either to settle on a net basis, or
liabilitas pajak kini akan saling hapus ketika to realise the asset and settle the liability
entitas memiliki hak yang berkekuatan hukum simultaneously.
untuk melakukan saling hapus dan adanya niat
untuk melakukan penyelesaian saldo-saldo
tersebut secara neto atau untuk merealisasikan
dan menyelesaikan liabilitas secara bersamaan.
ag. Imbalan kerja ag. Employee benefits
Liabilitas pensiun Pension obligations
Bank CIMB Niaga dan Entitas Anak memiliki program- Bank CIMB Niaga and Subsidiaries have pension
program pensiun sesuai dengan peraturan dan schemes in accordance with prevailing labor-related
perundang-undangan yang berhubungan dengan laws and regulations of Bank CIMB Niaga and
ketenagakerjaan atau kebijakan yang ditetapkan oleh Subsidiaries policies. The schemes are generally
Bank CIMB Niaga dan Entitas Anak. Program-program funded through payments to trustee-administered
ini pada umumnya didanai melalui pembayaran funds as determined by periodic actuarial calculations.
kepada pengelola dana pensiun yang besarnya
ditentukan dalam perhitungan aktuarial yang dilakukan
secara berkala.

ag. Imbalan kerja (lanjutan) ag. Employee benefits (continued)
Liabilitas pensiun (lanjutan) Pension obligations (continued)
Bank CIMB Niaga dan Entitas Anak harus Bank CIMB Niaga and Subsidiaries are required to
menyediakan program pensiun dengan jumlah minimal provide a minimum amount of pension benefits in
tertentu sesuai dengan Undang-Undang (UU) accordance with Labor Law No. 13/2003. Since the
Ketenagakerjaan No. 13/2003. Karena UU Labor Law sets the formula for determining the
Ketenagakerjaan menentukan rumus tertentu untuk minimum amount of benefits, in substance pension
menghitung jumlah minimal imbalan pensiun, maka plans under the Labor Law represent defined benefit
pada dasarnya program pensiun berdasarkan UU plans. A defined benefit plan is a pension plan that
Ketenagakerjaan adalah program manfaat pasti. defines an amount of pension benefit to be provided,
Program pensiun manfaat pasti adalah program usually as a function of one or more factors such as
pensiun yang menentukan jumlah imbalan pensiun age, years of service or total compensation.
yang akan diberikan, biasanya didasarkan pada satu
faktor atau lebih seperti usia, masa kerja atau jumlah
kompensasi.
Liabilitas program pensiun imbalan pasti yang diakui di The liability recognised in the consolidated statement
laporan posisi keuangan konsolidasian adalah nilai kini of financial position in respect of defined benefit
liabilitas imbalan pasti pada tanggal laporan posisi pension plans is the present value of the defined
keuangan dikurangi nilai wajar aset program, yang benefit obligation at the statement of financial
disesuaikan dengan keuntungan/kerugian aktuarial. position’s date less the fair value of plan assets,
Liabilitas imbalan pasti dihitung setiap tahun oleh together with adjustments for unrecognised actuarial
aktuaris independen dengan menggunakan metode gains/losses. The defined benefit obligation is
Projected Unit Credit. Nilai kini liabilitas imbalan pasti calculated annually by independent actuaries using
ditentukan dengan mendiskontokan estimasi arus kas the Projected Unit Credit method. The present value
keluar di masa yang akan datang dengan of the defined benefit obligation is determined by
menggunakan tingkat bunga Obligasi Pemerintah discounting the estimated future cash outflows using
dalam mata uang yang sama dengan mata uang interest rates of Government Bonds that are
pensiun yang akan dibayarkan dan waktu jatuh tempo denominated in the currency in which the pension will
yang kurang lebih sama dengan waktu jatuh tempo be paid, and that have terms to maturity
pensiun yang bersangkutan. approximating the terms of the related pension
liability.
Keuntungan dan kerugian aktuarial yang timbul dari Actuarial gain and losses arising from experience
penyesuaian dan perubahan dalam asumsi-asumsi adjustments and changes in actuarial assumption
aktuarial langsung diakui seluruhnya melalui charged or credited to equity in other comprehensive
pendapatan komprehensif lainnya pada saat income in the period in which they arise. Past-service
terjadinya. Biaya jasa lalu diakui segera dalam laba cost are recognised immediately in profit or loss.
rugi.

Liabilitas pensiun (lanjutan) Pension obligations (continued)
Keuntungan dan kerugian dari kurtailmen atau Gains or losses on the curtailment or settlement of a
penyelesaian program manfaat pasti diakui di laba rugi defined benefit plan are recognised in profit or loss
ketika kurtailmen atau penyelesaian tersebut terjadi. when the curtailment or settlement occurs.
Kontribusi pegawai tidak berkaitan dengan jumlah Employee’s contribution does not relate to years of
tahun jasa sehingga Bank dan Entitas Anak mengakui service and therefore the Bank and Subsidiaries
kontribusi pegawai sebagai pengurang biaya jasa recognise the employee’s contribution as deduction to
pada periode berjalan. the service cost in the current period.
Liabilitas imbalan kerja jangka panjang lainnya Other long term benefit liabilities
Bank CIMB Niaga memberikan imbalan kerja lainnya Bank CIMB Niaga provides other benefits such as
seperti cuti jangka panjang, jubilee awards, uang long service leave, jubilee awards, severance pay,
pisah, uang jasa, dan imbalan lainnya sesuai dengan service pay, and other benefits which is determined in
yang ditentukan dalam Undang-Undang compliance with the Labor Law.
Ketenagakerjaan.
Perkiraan biaya imbalan ini dicadangkan sepanjang The expected costs of these benefits are accrued over
masa kerja karyawan. Liabilitas ini dinilai setiap tahun the period of employment. These obligations are
oleh aktuaris independen yang berkompeten. determined annually by independent qualified
actuaries.
Pesangon pemutusan kontrak kerja Termination benefits
Pesangon pemutusan kontrak terhutang ketika Termination benefits are payable whenever an
karyawan diberhentikan sebelum usia pensiun normal. employee’s employment is terminated before the
normal retirement age.
Bank CIMB Niaga dan Entitas Anak mengakui Bank CIMB Niaga and Subsidiaries recognise
pesangon pemutusan kontrak kerja ketika Bank CIMB termination benefits when it is demonstrably
Niaga dan Entitas Anak menunjukkan komitmennya committed to terminate the employment of current
untuk memutuskan hubungan kerja dengan karyawan employees according to a detailed formal plan which
berdasarkan suatu rencana formal terperinci yang has small probability to withdraw. Benefits, due more
kecil kemungkinannya untuk dibatalkan. Pesangon than 12 (twelve) months after statement of financial
yang akan dibayarkan dalam waktu lebih dari 12 (dua position’s date are discounted to present value.
belas) bulan setelah tanggal laporan posisi keuangan
didiskontokan untuk mencerminkan nilai kini.


Program saham manajemen dan program Management equity scheme and equity ownership
kepemilikan saham plan
Bank CIMB Niaga dan CIMB Group Holdings Berhad Bank CIMB Niaga and CIMB Group Holdings Berhad
memberikan opsi kepada manajemen dan karyawan provided options to eligible management and
yang berhak. employees.
Nilai wajar opsi yang diberikan diakui sebagai beban The fair value of the options is recognised as an
dan dengan peningkatan pada ekuitas. Jumlah nilai expense with a corresponding increase in equity. The
yang harus dibebankan ditentukan dengan mengacu total amount to be expensed is determined by
kepada nilai wajar opsi yang diberikan: reference to the fair value of the options granted:
• termasuk kinerja pasar (misalnya, harga • including any market performance conditions
saham entitas); (for example, an entity’s share price);
• tidak termasuk dampak dari jasa dan kondisi • excluding the impact of any service and
vesting yang tidak dipengaruhi kinerja pasar nonmarket performance vesting conditions
(misalnya, profitabilitas, target pertumbuhan (for example, profitability, sale growth targets
penjualan dan tetap menjadi karyawan and remaining an employee of the entity over
perusahaan selama periode waktu tertentu); a specified time period); and
dan
• termasuk dampak dari kondisi non-vesting. • including the impact of any non-vesting
conditions.
Syarat jasa dan syarat yang tidak dipengaruhi kinerja Non-market performance and service conditions are
pasar dimasukkan di dalam asumsi mengenai jumlah included in assumptions about the number of options
opsi yang diharapkan akan vest. Jumlah beban diakui that are expected to vest. The total expense is
selama periode vesting, yaitu periode dimana seluruh recognised over the vesting period, which is the
kondisi vesting tertentu telah terpenuhi. period over which all of the specified vesting
conditions are to be satisfied.
Setiap akhir periode pelaporan, Bank merevisi etimasi At the end of each reporting period, the Bank revises
jumlah opsi yang diharapkan vest berdasarkan syarat its estimates of the number of options that are
jasa. Selisih antara estimasi revisian dengan jumlah expected to vest based on the service vesting
estimasi sebelumnya, jika ada, diakui dalam laporan conditions. It recognises the impact of the revision to
laba rugi, dengan penyesuaian pada sisi ekuitas. original estimates, if any, in profit or loss, with a
corresponding adjustment to equity.
Ketika opsi dieksekusi, Bank menerbitkan sejumlah When the options are exercised, the Bank issues new
saham baru atau menerbitkan kembali saham shares or reissues its treasury shares (if any). The
treasurinya (jika ada). Nilai kas yang diterima dikurangi proceeds received, net of any directly attributable
dengan biaya transaksi yang dapat diatribusikan transaction costs, are credited to share capital
dikreditkan ke modal saham (nilai nominal) dan agio (nominal value) and share premium.
saham.

Tantiem Tantiem
Bank CIMB Niaga mencatat tantiem dengan Bank CIMB Niaga records tantiem using the accrual
menggunakan basis akrual dan membebankannya basis and charges it to the consolidated statement of
pada laporan laba rugi dan penghasilan komprehensif income and other comprehensive income.
lain konsolidasian.
ah. Laba per saham ah. Earnings per share
Laba per saham dasar dihitung dengan membagi laba Basic earnings per share is computed by dividing net
bersih dengan rata-rata tertimbang jumlah saham income with the weighted average number of common
biasa yang beredar pada periode yang bersangkutan. shares outstanding during the period.
Laba per saham dilusian dihitung dengan membagi Diluted earnings per share is calculated by dividing
laba bersih dengan rata-rata tertimbang jumlah saham net income by the weighted average number of
yang beredar ditambah dengan rata-rata tertimbang shares outstanding plus the weighted average
jumlah saham yang akan diterbitkan atas konversi number of shares outstanding which would be issued
efek yang berpotensi saham yang bersifat dilutif. on the conversion of the dilutive potential shares.
ai. Transaksi dengan pihak berelasi ai. Transactions with related parties
Bank CIMB Niaga dan Entitas Anak melakukan Bank CIMB Niaga and Subsidiaries have transactions
transaksi dengan pihak berelasi. Sesuai dengan PSAK with related parties. In accordance with SFAS No.7
No. 7 (revisi 2015) tentang “Pengungkapan Pihak- (revised 2015) regarding “Related Party Disclosure”,
pihak yang Berelasi”, yang dimaksud dengan pihak the meaning of a related party is a person or entity
yang berelasi adalah orang atau entitas yang berelasi that is related to a reporting entity as follow:
dengan entitas pelapor sebagai berikut:
a. Orang atau anggota keluarga terdekatnya berelasi a. A person or a close member of that person’s
dengan entitas pelapor jika orang tersebut: family is related to a reporting entity if that
person:
i. memiliki pengendalian atau pengendalian i. has control or joint control over the reporting
bersama terhadap entitas pelapor; entity;
ii. memiliki pengaruh signifikan terhadap ii. has significant influence over the reporting
entitas pelapor; atau entity; or
iii. personal manajemen kunci entitas pelapor iii. is member of the key management personnel
atau entitas induk pelapor. of the reporting entity or a parent of the
reporting entity.

ai. Transaksi dengan pihak berelasi (lanjutan) ai. Transactions with related parties (continued)
b. Suatu entitas berelasi dengan entitas pelapor jika b. An entity is related to a reporting entity if any of
memenuhi hal-hal sebagai berikut: the following conditions applies:
i. entitas dan entitas pelapor adalah anggota i. the entity and the reporting entity are
dari kelompok usaha yang sama (artinya member of the same the company (which
entitas induk, entitas anak, dan entitas anak means that each parent, subsidiaries, and
berikutnya terkait dengan entitas lain); fellow subsidiaries is related to the others);
ii. suatu entitas adalah entitas asosiasi atau ii. one entity is an associate or joint venture of
ventura bersama bagi entitas lain (atau the other entity (or an associate or joint
entitas asosiasi atau ventura bersama yang venture of member of a company of which
merupakan anggota suatu kelompok usaha, the other entity is a member);
di mana entitas lain tersebut adalah
anggotanya);
iii. kedua entitas tersebut adalah ventura iii. both entities are joint ventures of the same
bersama dari pihak ketiga yang sama; third party;
iv. suatu entitas adalah ventura bersama dari iv. one entity is a joint venture of a third entity
entitas ketiga dan entitas yang lain adalah and the other entity is an associate of the
entitas asosiasi dari entitas ketiga; third entity;
v. entitas tersebut adalah suatu program v. the entity is a post-employment benefit plan
imbalan pasca kerja untuk imbalan kerja dari for the benefit of employees of either the
suatu entitas pelapor atau entitas yang reporting entity or an entity related to the
terkait dengan entitas pelapor; reporting entity;
vi. entitas yang dikendalikan atau dikendalikan vi. the entity controlled or jointly controlled by a
bersama oleh orang yang diidentifikasi person identified in (a);
dalam butir (a);
vii. orang yang diidentifikasi, dalam butir (a) (i) vii. a person identified in (a) (i) has significant
memiliki pengaruh signifikan terhadap influence over the entity or is a member of
entitas atau anggota manajemen kunci the key management personel of the entity
entitas (atau entitas induk dari entitas); atau (or of a parent of the entity); or
viii. entitas, atau bagian dari grup dimana entitas viii. the entity, or any member of a group of which
merupakan anggotanya, menyediakan it is a part, provides key management
personal manajemen kunci kepada entitas personnel services to the reporting entity or
pelapor atau kepada pemegang saham dari to the parent of the reporting entity.
entitas pelaporan.
Jenis transaksi dan saldo dengan pihak-pihak berelasi The nature of transactions and balances of accounts
diungkapkan dalam catatan atas laporan keuangan with related parties are disclosed in the notes to the
konsolidasian. consolidated financial statements.

aj. Saham treasuri aj. Treasury shares
Ketika Bank membeli modal saham ekuitas Bank When any Bank purchases the Bank’s equity share
(saham treasuri), imbalan yang dibayar, termasuk capital (treasury shares), the consideration paid,
biaya tambahan yang secara langsung dapat including any directly attributable incremental cost
diatribusikan (dikurangi pajak penghasilan) (net of income taxes) is deducted from equity
dikurangkan dari ekuitas yang diatribusikan kepada attributable to the Bank’s equity holders until the
pemilik ekuitas Bank sampai saham tersebut shares are cancelled or reissued.
dibatalkan atau diterbitkan kembali.
Ketika saham tersebut selanjutnya diterbitkan kembali, Where such ordinary shares are subsequently
imbalan yang diterima, dikurangi biaya tambahan reissued, any consideration received, net of any
transaksi yang terkait dan dampak pajak penghasilan directly attributable incremental transaction costs and
yang terkait dimasukkan pada ekuitas yang dapat the related income tax effects, is included in equity
diatribusikan kepada pemilik ekuitas Bank. attributable to the Bank’s equity holders
ak. Pelaporan segmen ak. Segment reporting
Sebuah segmen operasi adalah suatu komponen dari An operating segment is a component of entity which:
entitas:
a. yang terlibat dalam aktivitas bisnis yang a. involves with business activities to generate
memperoleh pendapatan dan menimbulkan income and expenses (include income and
beban (termasuk pendapatan dan beban yang expenses relating to the transactions with other
terkait dengan transaksi dengan komponen lain components with the same entity);
dari entitas yang sama);
b. hasil operasinya dikaji ulang secara reguler oleh b. operations result is observed regularly by chief
kepala operasional untuk membuat keputusan decision maker to make decisions regarding the
tentang sumber daya yang dialokasikan pada allocation of resources and to evaluate the
segmen tersebut dan menilai kinerjanya; dan works; and
c. tersedia informasi keuangan yang dapat c. separated financial information is available.
dipisahkan.
Bank CIMB Niaga menyajikan segmen operasi Bank CIMB Niaga presents operating segments
berdasarkan informasi yang disiapkan secara internal based on the information that internally is provided to
untuk pengambil keputusan operasional. Berdasarkan the chief operating decision maker. Under SFAS 5
PSAK 5 (Revisi 2015), sebuah segmen usaha adalah (Revised 2015), a business segment is a group of
sekelompok aset dan operasi yang menyediakan assets and operations engaged in providing products
barang atau jasa yang memiliki risiko serta tingkat or services that are subject to risks and returns that
pengembalian yang berbeda dengan segmen usaha are different from those of other business segments.
lainnya.
Sebuah segmen geografis menyediakan jasa di dalam A geographical segment is engaged in providing
lingkungan ekonomi tertentu yang memiliki risiko serta services within a particular economic environment that
tingkat pengembalian yang berbeda dengan segmen are subject to risks and return that are different from
operasi lainnya yang berada dalam lingkungan those of segments operating in other economic
ekonomi lain. Bank CIMB Niaga melaporkan informasi environments. Bank CIMB Niaga reports the
segmen sekunder berdasarkan daerah Jakarta, Jawa secondary segment information based on Jakarta,
Barat, Jawa Tengah, Jawa Timur, Indonesia Timur, West Java, Central Java, East Java, East Indonesia,
dan Sumatera. and Sumatera.

3. PENGGUNAAN ESTIMASI DAN PERTIMBANGAN 3. USE OF SIGNIFICANT ACCOUNTING ESTIMATES AND

AKUNTANSI YANG PENTING JUDGEMENTS
Beberapa estimasi dan asumsi dibuat dalam rangka Certain estimates and assumption are made in the
penyusunan laporan keuangan konsolidasian dimana presentation of the consolidated financial statements.
dibutuhkan pertimbangan manajemen dalam menentukan These often require management judgement in
metodologi yang tepat untuk penilaian aset dan liabilitas. determining the appropriate methodology for valuation of
assets and liabilities.
Manajemen membuat estimasi dan asumsi yang Management makes estimates and assumptions that affect
berimplikasi pada pelaporan nilai aset dan liabilitas atas the reported amounts of assets and liabilities within the
tahun keuangan satu tahun kedepan. Semua estimasi dan next financial year. All estimates and assumptions required
asumsi yang diharuskan oleh PSAK adalah estimasi terbaik in conformity with SFAS are best estimates undertaken in
yang didasarkan pada standar yang berlaku. Estimasi dan accordance with the applicable standard. Estimates and
pertimbangan dievaluasi secara terus menerus dan judgements are evaluated on a continuous basis, and are
berdasarkan pengalaman masa lalu dan faktor-faktor lain
based on past experience and other factors, including
termasuk harapan atas kejadian yang akan datang.
expectations with regard to future events.
Walaupun estimasi dan asumsi ini dibuat berdasarkan Although these estimates and assumptions are based on
pengetahuan terbaik manajemen atas kejadian dan management’s best knowledge of current events and
tindakan saat ini, hasil yang timbul mungkin berbeda activities, actual result may differ from those estimates and
dengan estimasi dan asumsi semula. assumptions.
a. Cadangan kerugian penurunan nilai aset keuangan a. Allowance for impairment losses of financial
assets
Aset keuangan yang dicatat berdasarkan biaya Financial assets accounted for at amortised cost are
perolehan diamortisasi dievaluasi penurunan nilainya evaluated for impairment on a basis described in Note
sesuai dengan Catatan 2h. 2h.
Kondisi spesifik penurunan nilai counterparty dalam The specific counterparty conditions in determining
pembentukan cadangan kerugian penurunan nilai atas impairment amount of the financial assets is
aset keuangan dievaluasi secara individu berdasarkan evaluated individually and is based upon
estimasi terbaik manajemen atas nilai kini arus kas management's best estimate of the present value of
yang diharapkan akan diterima. Dalam mengestimasi the cash flows that are expected to be received. In
arus kas tersebut, manajemen membuat pertimbangan estimating these cash flows, management makes
tentang situasi keuangan counterparty dan nilai judgements about the counterparty's financial
realisasi bersih dari setiap agunan. Setiap aset yang situation and the net realisable value of any
mengalami kerugian penurunan nilai dinilai sesuai underlying collateral. Each impairment asset is
dengan manfaat yang ada dan strategi penyelesaian assessed on its merits and the workout strategy and
serta estimasi arus kas yang diperkirakan dapat estimated cash flows considered recoverable, are
diterima, disetujui secara independen oleh Manajemen independently approved by the Risk Management.
Risiko.
Guna membuat estimasi cadangan yang diperlukan, In order to estimate the required allowance,
asumsi dibuat untuk menentukan kerugian yang assumptions are made to define the way inherent
melekat dan untuk menentukan parameter input yang losses are modelled and to determine the required
diperlukan berdasarkan pengalaman masa lalu dan input parameters, based on historical experience and
kondisi ekonomi saat ini. current economic conditions.
Keakuratan penyisihan tergantung pada seberapa baik The accuracy of the allowances depends on how well
estimasi arus kas masa depan untuk cadangan the estimation of future cash flows for specific
counterparty tertentu dan asumsi model dan parameter counterparty allowances and the model assumptions
yang digunakan dalam menentukan cadangan kolektif. and parameters used in determining collective
allowances.


AKUNTANSI YANG PENTING (lanjutan) JUDGEMENTS (continued)
b. Menentukan nilai wajar instrumen keuangan b. Determining fair values of financial instruments
Dalam menentukan nilai wajar aset keuangan dan In determining the fair value for financial assets and
liabilitas yang tidak mempunyai harga pasar, Bank financial liabilities for which there is no observable
CIMB Niaga menggunakan teknik penilaian seperti market price, Bank CIMB Niaga uses the valuation
yang dijelaskan dalam Catatan 2f untuk instrumen techniques as described in Note 2f for financial
keuangan yang jarang diperdagangkan dan memiliki instruments that are traded infrequently and have a
informasi harga yang terbatas, nilai wajar yang kurang lack of price transparency, less objectivity in fair value
objektif dan membutuhkan berbagai tingkat penilaian and requires varying degrees of judgement depending
tergantung pada likuiditas, konsentrasi, faktor on liquidity, concentration, uncertainty of market
ketidakpastian pasar, asumsi harga, dan risiko lainnya. factors, pricing assumptions, and other risks.
c. Imbalan pensiun c. Pension benefits
Manfaat pensiun tergantung pada beberapa faktor The present value of the pension obligations depends
yang ditentukan dengan dasar aktuarial berdasarkan on a number of factors that are determined on an
beberapa asumsi. Asumsi yang digunakan untuk actuarial basis using a number of assumptions. The
menentukan biaya (penghasilan) pensiun neto assumptions used in determining the net cost
mencakup tingkat diskonto, asumsi yang digunakan (income) for pensions include the discount rate, the
dalam menentukan biaya/ (pendapatan) untuk imbalan assumptions used in determining the net cost /
kerja karyawan antara lain tingkat diskonto, tingkat (income) for employee’s benefit included the discount
kenaikan gaji di masa datang, tingkat pengembalian rate, salary increment rate, expected return on
investasi, tingkat pengunduran diri, tingkat mortalita investmens, resignation rate, mortality rate and
dan lain-lain. Perubahan asumsi ini akan others. Any changes in these assumptions will impact
mempengaruhi jumlah tercatat liabilitas pensiun. the carrying amount of pension obligations.
Bank CIMB Niaga dan Entitas Anak menentukan Bank CIMB Niaga and Subsidiaries determine the
tingkat diskonto yang sesuai pada akhir periode appropriate discount rate at the end of each reporting
pelaporan, yakni tingkat suku bunga yang harus period. This is the interest rate that should be used to
digunakan untuk menentukan nilai kini arus kas keluar determine the present value of estimated future cash
masa depan estimasian yang diharapkan untuk outflows expected to be required to settle the pension
menyelesaikan liabilitas pensiun. Dalam menentukan obligations. In determining the appropriate discount
tingkat suku bunga yang sesuai, Bank CIMB Niaga dan rate, Bank CIMB Niaga and Subsidiaries considers
Entitas Anak mempertimbangkan tingkat suku bunga the interest rates of government bonds that are
obligasi pemerintah yang didenominasikan dalam mata denominated in the currency in which the benefits will
uang imbalan akan dibayar dan memiliki jangka waktu be paid and that have terms to maturity approximating
yang serupa dengan jangka waktu liabilitas pensiun the terms of the related pension obligation.
yang terkait.


AKUNTANSI YANG PENTING (lanjutan) JUDGEMENTS (continued)
c. Imbalan pensiun (lanjutan) c. Pension benefits (continued)
Tingkat kenaikan gaji per tahun didasarkan pada Annual salary increment rate is determined based on
informasi historis atas tingkat kenaikan gaji historical information of previous salary increment
sebelumnya, tingkat inflasi dan masa kerja. rate, inflation rate and length of service.
Asumsi tingkat mortalitas telah didasarkan pada tabel Mortality rate assumption is based on the latest
mortalita terbaru yang dihitung dengan menggunakan mortality table which is calculated using actuarial
metode aktuaria yang diterima secara umum. method that is generally accepted.
Tingkat pengembalian investasi didasarkan pada Expected rate of return on investment is based on
informasi historis dan proyeksi pasar ke depan. historical information and future market projections.
Asumsi tingkat pengunduran diri didasarkan pada Resignation rate assumption is based on historical
informasi historis. information.
d. Pajak penghasilan d. Income taxes
Pertimbangan signifikan diperlukan dalam menentukan Significant judgement is required in determining the
provisi perpajakan. provision for taxes.
Bank CIMB Niaga dan Entitas Anak menentukan Bank CIMB Niaga and Subsidiaries provide for tax
provisi perpajakan berdasarkan estimasi atas provision based on estimates whether the additional
kemungkinan adanya tambahan beban pajak. Jika taxes will be due. Where the final tax outcome of
hasil akhir dari hal ini berbeda dengan jumlah yang these matters is different from the amounts that were
dicatat semula, maka perbedaan tersebut akan initially recorded, such differences will impact the
berdampak terhadap laba/rugi. profit/loss.
e. Cadangan kompensasi berbasis saham e. Share-based compensation reserve
Nilai wajar opsi yang diberikan: The fair value of the options granted:
• Termasuk kondisi kinerja pasar (misalnya, harga • including any market performance conditions (for
saham entitas); example, an entity’s share price);
• tidak termasuk dampak dari jasa dan kondisi • excluding the impact of any service and
vesting yang tidak dipengaruhi kinerja pasar nonmarket performance vesting conditions (for
(misalnya, profitabilitas, target pertumbuhan example, profitability, sale growth targets and
penjualan dan tetap menjadi karyawan remain as employee of the entity over a specified
perusahaan selama periode waktu tertentu); dan time period); and
• termasuk dampak dari kondisi non-vesting. • including the impact of any non-vesting
conditions.
Syarat jasa dan syarat yang tidak dipengaruhi kinerja Non-market performance and service conditions are
pasar dimasukkan di dalam asumsi mengenai jumlah included in assumptions about the number of options
opsi yang diharapkan akan vest. that are expected to vest.

4. KAS 4. CASH
2020 2019 2018
Rupiah 4,161,505 5,090,045 3,825,011 Rupiah

Mata uang asing Foreign currencies
Euro 126,456 147,945 41,777 Euro
Lain-lain 232,294 192,341 163,309 Others
4,777,284 5,693,065 4,293,370
Kas dalam mata uang asing lain-lain terutama terdiri dari Cash in other foreign currencies are mainly denominated
Dolar Singapura, Dolar Australia, Yen Jepang, Dolar in Singapore Dollar, Australian Dollar, Japanese Yen,
Hongkong, Riyal Saudi Arabia, Franc Swiss, Poundsterling, Hongkong Dollar, Saudi Arabian Riyal, Swiss Franc,
Dolar New Zealand, Yuan China, Dolar Kanada, Ringgit Poundsterling, New Zealand Dollar, Chinese Yuan,
Malaysia, dan Baht Thailand. Canadian Dollar, Malaysian Ringgit, and Thailand Baht.
Saldo dalam mata uang Rupiah termasuk uang pada ATM The Rupiah balance includes cash in ATMs (Automatic
(Anjungan Tunai Mandiri)/CDM (Cash Deposit Machine) Teller Machines)/CDM (Cash Deposit Machine) amounted
berjumlah Rp 715.499 pada tanggal 31 Desember 2020 to Rp 715,499 as at 31 December 2020 (2019:
(2019: Rp 839.343; 2018: Rp 804.144). Rp 839,343; 2018: Rp 804,144).
5. GIRO PADA BANK INDONESIA 5. CURRENT ACCOUNTS WITH BANK INDONESIA
2020 2019 2018
Rupiah 5,042,430 8,321,615 7,234,376 Rupiah

Dolar Amerika Serikat 1,179,462 3,074,080 3,200,878 United States Dollar
6,221,892 11,395,695 10,435,254
Pada tanggal 31 Desember 2020, di dalam giro pada Bank As at 31 December 2020, current accounts with Bank
Indonesia terdapat giro yang didasarkan pada prinsip Indonesia include current account based on sharia
perbankan syariah sebesar Rp 1.318.516 (2019: banking principle amounted to Rp 1,318,516 (2019:
Rp 1.738.386; 2018: Rp 1.047.793). Rp 1,738,386; 2018: Rp 1,047,793).
Giro Wajib Minimum (GWM) dalam mata uang Rupiah dan As at 31 December 2020, 2019, and 2018, the Minimum
Valuta Asing pada tanggal 31 Desember 2020, 2019 dan Statutory Reserves in Rupiah and Foreign Currencies are:
2018 adalah:
2020 2019 2018
Rupiah Rupiah
Giro Wajib Minimum 3.16% 6.10% 6.70% Minimum Statutory Reserve
Penyangga Likuiditas Makroprudensial 25,98% 10.78% 6.09% Macroprudential Liquidity Buffer
Rasio Intermediasi Makroprudensial 82,93% 92.14% 98.39% Macroprudential Intermediation Ratio
Valuta Asing 4.05% 8.08% 8.14% Foreign Currencies

5. GIRO PADA BANK INDONESIA (lanjutan) 5. CURRENT ACCOUNTS WITH BANK INDONESIA
(continued)
GWM adalah jumlah dana minimum yang wajib dipelihara Minimum Statutory Reserve is a minimum reserve that should
oleh Bank dalam bentuk saldo rekening giro pada Bank be maintained by Bank in the current accounts with Bank
Indonesia, sedangkan Penyangga Likuiditas Indonesia, while Macroprudential Liquidity Buffer (PLM) is a
Makroprudensial (PLM) adalah cadangan likuiditas minimum reserve in Rupiah that should be maintained by
minimum dalam Rupiah yang wajib dipelihara oleh Bank Bank which comprises of Bank Indonesia Certificates (SBI),
berupa Sertifikat Bank Indonesia (SBI), Sertifikat Deposito Bank Indonesia Certificates Deposits (SDBI), Government
Bank Indonesia (SDBI), Surat Utang Negara (SUN), Debenture Debt (SUN), and/or Government Commercial
dan/atau Surat Berharga Negara (SBN). Notes (SBN).
Pada tanggal 31 Desember 2020, GWM Bank CIMB Niaga As at 31 December 2020 , Bank CIMB Niaga’s Minimum
telah sesuai dengan Peraturan Bank Indonesia No. Statutory Reserves complies with Bank Indonesia regulation
22/10/PBI/2020 tanggal 28 Juli 2020 dan Peraturan No. 22/10/PBI/2020 dated 28 July 2020 and Governor
Anggota Dewan Gubernur No. 22/19/PADG/2020 tanggal Members Regulation No 22/19/PADG/2020 dated 29 July
29 Juli 2020 tentang Perubahan Keenam atas Peraturan 2020 and regarding the sixth Amendment of Governor
Anggota Dewan Gubernur No. 20/10/PADG/2018 tentang Members Regulation No. 20/10/PADG/2018 regarding
Giro Wajib Minimum dalam Rupiah dan Valuta Asing bagi Minimum Statutory Reserves in Rupiah and Foreign
Bank Umum Konvensional, Bank Umum Syariah, dan Unit Currencies for Conventional Commercial Banks, Sharia
Usaha Syariah dan Siaran Pers BI No. 22/30/DKOM yang Commercial Banks, and Sharia Business Unit, and Press
berlaku efektif 1 Agustus 2020 dimana GWM Rupiah Conference BI No. 22/30/DKOM which effective since
sebesar 3% (secara harian sebesar 0% dan secara rata- 1 August 2020, with Rupiah of 3% (fulfilled in daily basis of
rata sebesar 3%) serta valuta asing sebesar 4% (secara 0% and in average basis of 3%) and foreign currencies of 4%
harian sebesar 2% dan secara rata-rata sebesar 2%). (fulfilled in daily basis of 2% and in average basis of 2%).
Pada tanggal 31 Desember 2019, GWM Bank CIMB Niaga As at 31 December 2019, Bank CIMB Niaga’s Minimum
telah sesuai dengan Peraturan Anggota Dewan Gubernur Statutory Reserves complies with Governor Members
No. 21/14/PADG/2019 tanggal 26 Juni 2019 tentang Regulation No. 21/14/PADG/2019 dated 26 June 2019 by the
Perubahan kedua atas Peraturan Anggota Dewan Governor Member Regulation No. 20/10/PADG/2018
Gubernur No. 20/10/PADG/2018 tentang Giro Wajib regarding Second Amendment of Minimum Statutory
Minimum dalam Rupiah dan Valuta Asing bagi Bank Reserves in Rupiah and Foreign Currencies for Conventional
Umum Konvensional, Bank Umum Syariah, dan Unit Commercial Banks, Sharia Commercial Banks, and Sharia
Usaha Syariah yang berlaku efektif 1 Juli 2019, dimana Business Unit which effective since 1 July 2019, with Rupiah
GWM Rupiah sebesar 6% serta valuta asing sebesar 8%. 6% and foreign currencies of 8%. Minimum Statutory
GWM dipenuhi secara harian sebesar 3% dan secara rata- Reserves is fulfilled in daily basis of 3% and in average basis
rata untuk masa laporan tertentu 3%. for certain reporting period of 3%.
Pada tanggal 31 Desember 2018, GWM Bank CIMB Niaga As at 31 December 2018, Bank CIMB Niaga’s Minimum
telah sesuai dengan PBI No. 20/3/PBI/2018 tanggal 3 April Statutory Reserves complies with BI regulation No.
2018 dan Peraturan Anggota Dewan Gubernur No. 20/3/PBI/2018 dated 3 April 2018 and Governor Members
20/30/PADG/2018 tanggal 30 November 2018 tentang Regulation No. 20/30/PADG/2018 dated 30 November 2018
Perubahan atas Peraturan Anggota Dewan Gubernur No. regarding Amendment of Governor Members Regulation No.
20/10/PADG/2018 tanggal 31 Mei 2018 sebagaimana 20/10/PADG/2018 dated 31 May 2018 as amended in
diubah dengan Peraturan Anggota Dewan Gubernur No. Governor Members Regulation No.20/30/PADG/2018 dated
20/30/PADG/2018 tanggal 30 November 2018 30 November 2018 regarding Minimum Statutory Reserves in
tentang Giro Wajib Minimum dalam Rupiah dan Valuta Rupiah and Foreign Currencies for Conventional Commercial
Asing bagi Bank Umum Konvensional, Bank Umum Banks, Sharia Commercial Banks, and Sharia Business Unit
Syariah, dan Unit Usaha Syariah yang berlaku efektif 1 which effective since 1 December 2018, with Rupiah 6.5%
Desember 2018, dimana GWM Rupiah sebesar 6,5% and foreign currencies of 8%. Statutory Reserves is fulfilled in
serta valuta asing sebesar 8%. GWM dipenuhi secara daily basis of 3.5% and in average basis for certain reporting
harian sebesar 3,5% dan secara rata-rata untuk masa period of 3%.
laporan tertentu 3%.

5. GIRO PADA BANK INDONESIA (lanjutan) 5. CURRENT ACCOUNTS WITH BANK INDONESIA
(continued)
Pada tanggal 31 Desember 2020, Penyangga Likuiditas On 31 December 2020 Macroprudential Liquidity Buffer (PLM)
Makroprudensial (PLM) dan Rasio Intermediasi and Macroprudential Intermediation Ratio (RIM) complies with
Makroprudensial (RIM) telah sesuai dengan PBI No. PBI No. 22/17/PBI/2020 dated 28 July 2020 regarding
22/17/PBI/2020 tanggal 28 Juli 2020 tentang Perubahan Second Amendment of PBI No. 21/12/PBI/2019 regarding
kedua atas PBI No. 21/12/PBI/2019 tentang Rasio Macroprudential Intermediation Ratio (RIM) and
Intermediasi Makroprudensial dan Penyangga Likuiditas Macroprudential Liquidity Buffer (PLM) for Conventional
Makroprudensial bagi Bank Umum Konvensional, Bank Commercial Banks, Sharia Commercial Banks, and Sharia
Umum Syariah, dan Unit Usaha Syariah. Business Unit.
Pada tanggal 31 Desember 2019, Penyangga Likuiditas On 31 December 2019 Macroprudential Liquidity Buffer
Makroprudensial (PLM) dan Rasio Intermediasi (PLM) and Macroprudential Intermediation Ratio (RIM)
Makroprudensial (RIM) telah sesuai dengan Peraturan complies with Governor Members Regulation No.
Anggota Dewan Gubernur No. 21/5/PADG/2019 tanggal 21/5/PADG/2019 dated 29 March 2019 regarding The Third
29 Maret 2019 tentang Perubahan Ketiga atas Peraturan Amendment of Governors Members Regulation No.
Anggota Dewan Gubernur No. 20/11/PADG/2018 tentang 20/11/PADG/2018 regarding Macroprudential Intermediation
Rasio Intermediasi Makroprudensial dan Penyangga Ratio (RIM) and Macroprudential Liquidity Buffer (PLM) for
Likuiditas Makroprudensial bagi Bank Umum Conventional Commercial Banks, Sharia Commercial Banks,
Konvensional, Bank Umum Syariah, dan Unit Usaha and Sharia Business Unit.
Syariah.
Pada tanggal 31 Desember 2018, Penyangga Likuiditas On 31 December 2018, Macroprudential Liquidity Buffer
Makroprudensial (PLM) dan Rasio Intermediasi (PLM) and Macroprudential Intermediation Ratio (RIM)
Makroprudensial (RIM) telah sesuai dengan Peraturan complies with Governor Members Regulation No.
Anggota Dewan Gubernur No. 20/33/PADG/2018 tanggal 20/33/PADG/2018 dated 17 December 2018 regarding
17 Desember 2018 tentang Perubahan Kedua atas Second Amendment of Governors Members Regulation No.
Peraturan Anggota Dewan Gubernur 20/11/PADG/2018 regarding Macroprudential Intermediation
No. 20/11/PADG/2018 tentang Rasio Intermediasi Ratio (RIM) and Macroprudential Liquidity Buffer (PLM) for
Makroprudensial (RIM) dan Penyangga Likuiditas Conventional Commercial Banks, Sharia Commercial Banks,
Makroprudensial (PLM) bagi Bank Umum Konvensional, and Sharia Business Unit.
Bank Umum Syariah, dan Unit Usaha Syariah.
Giro RIM (atau dahulu disebut dengan GWM LFR) adalah Macroprudential Intermediation Ratio (RIM) (or previously
tambahan simpanan minimum yang wajib dipelihara oleh known as Loan to Funding Ratio Minimum Statutory Reserve)
Bank dalam bentuk saldo rekening giro pada Bank is the additional reserve that should be maintained by the
Indonesia, jika RIM Bank di bawah minimum target RIM Bank in the form of current accounts with Bank Indonesia, if
Bank Indonesia (84%) atau jika di atas maksimum target the Bank’s RIM is below the minimum of RIM targeted by
RIM Bank Indonesia (94%) dan Kewajiban Penyediaan Bank Indonesia (84%) or if the Bank’s RIM above the
Modal Minimum (“KPMM”) Bank lebih kecil dari KPMM maximum of RIM targeted by Bank Indonesia (94%) and the
Insentif Bank Indonesia sebesar 14%. Giro RIM Capital Adequacy Ratio (“CAR”) is below Bank Indonesia
merupakan tambahan cadangan wajib yang dihitung requirement of 14%. Macroprudential Intermediation Ratio
berdasarkan selisih antara RIM Bank dengan minimum (RIM) is the additional Minimum Statutory Reserve calculated
atau maksimum RIM Target Bank Indonesia. Selisih antara based on the difference between Bank’s RIM with the
RIM Bank dengan minimum RIM Target Bank Indonesia minimum or the maximum Bank Indonesia’s RIM Target.
dikali 10%, sedangkan selisih antara RIM Bank dengan Difference between Bank’s RIM with the minimum Bank
maksimum RIM Target Bank Indonesia dikali 20%. Indonesia’s RIM Target is multiplied by 10%, whereas the
difference between the Bank’s RIM with the maximum Bank
Indonesia’s RIM Target is multiplied by 20%.
Sesuai dengan Siaran Pers BI No. 22/30/Dkom, untuk In accordance with BI Press Release No. 22/30/Dkom, to
mendukung upaya pemulihan ekonomi nasional dari support the efforts to recover the national economy from the
dampak COVID-19, Bank Indonesia akan meningkatkan impact of COVID-19, Bank Indonesia will increase monetary
pelonggaran moneter melalui instrumen kuantitas easing through quantitative easing, which among others does
(quantitative easing) yang diantaranya tidak not impose additional minimum statutory reserves to fulfill the
memberlakukan kewajiban tambahan Giro Wajib Minimum RIM for Conventional Commercial Banks and Sharia
untuk pemenuhan RIM baik terhadap Bank Umum Commercial Banks/Sharia Business Units for a period of 1
Konvensional maupun Bank Umum Syariah/Unit Usaha (one) year, starting from 1 May 2020.
Syariah untuk periode 1 (satu) tahun, mulai berlaku 1 Mei
2020.

6. GIRO PADA BANK LAIN 6. CURRENT ACCOUNTS WITH OTHER BANKS
a. Berdasarkan mata uang a. By currency
2020 2019 2018

Rupiah 568,188 245,221 483,087 Rupiah
Dolar Australia 659,421 250,504 629,972 Australian Dollar
Euro 628,682 521,454 434,990 Euro
Dolar Singapura 321,622 525,535 615,830 Singapore Dollar
Yen Jepang 266,549 192,130 234,554 Japanese Yen
Pound Sterling Inggris 113,839 81,505 145,481 Great Britain Pound Sterling
Yuan Cina 45,127 36,513 73,145 China Yuan
Dolar Selandia Baru 41,699 40,083 35,885 New Zealand Dollar
Dolar Hongkong 14,152 26,172 33,893 Hongkong Dollar
Lain-lain 52,499 51,695 57,118 Others
3,697,487 2,162,195 3,093,901
Termasuk dalam lain-lain adalah mata uang asing Included in others are foreign currencies denominated
dalam Ringgit Malaysia, Franc Swiss, Dolar Kanada, in Malaysian Ringgit, Swiss Franc, Canadian Dollar,
Riyal Arab Saudi, dan Baht Thailand. Saudi Arabian Riyal, and Thailand Baht.
b. Berdasarkan transaksi dengan pihak berelasi dan b. By transactions with related party and third party
pihak ketiga
Giro pada bank lain dari pihak berelasi diungkapkan Current accounts with other banks from related parties
dalam Catatan 49. are disclosed in Notes 49.
c. Berdasarkan kolektibilitas dan tahapan c. By collectability and staging
Pada tanggal 31 Desember 2020, 2019, dan 2018, As at 31 December 2020, 2019, and 2018, all current
seluruh giro pada bank lain digolongkan sebagai accounts with other banks were classified as pass
lancar dan tahapan 1. and stage 1.
d. Cadangan kerugian penurunan nilai d. Allowance for impairment losses
Manajemen berpendapat bahwa tidak terdapat Management believes that there is no impaired
penurunan nilai atas giro pada bank lain sehingga current account with other banks therefore no
tidak diperlukan cadangan kerugian penurunan nilai. allowance for impairment losses is needed.
e. Berdasarkan jatuh tempo e. By maturity date
Informasi mengenai jatuh tempo diungkapkan pada Information in respect of maturities is disclosed in
Catatan 56. Note 56.

7. PENEMPATAN PADA BANK LAIN DAN BANK 7. PLACEMENT WITH OTHER BANKS AND BANK
INDONESIA INDONESIA
a. Berdasarkan jenis, mata uang, dan nama bank a. By type, currency, and bank’s name
2020 2019 2018

Rupiah Rupiah
Fasilitas Simpanan Bank Bank Indonesia Deposit Facility
Indonesia (FASBI) (FASBI)
Bank Indonesia 5,000,834 5,855,219 5,398,554 Bank Indonesia
Call Money Call Money
PT Bank Bukopin Tbk 1,212,561 - - PT Bank Bukopin Tbk
PT Bank Mega Tbk - 100,000 - PT Bank Mega Tbk
Jumlah Rupiah 6,213,395 5,955,219 5,398,554 Total Rupiah
Mata Uang Asing Foreign Currencies

Deposito Berjangka Time deposits
Dolar Amerika Serikat United States Dollar
Call Money Call Money

Bank of New York, NY - 186,477 62,955 Bank of New York, NY
Citibank, NY - 92,917 186,923 Citibank, NY
PT Bank China Construction Bank Indonesia Tbk - 69,413 - PT Bank China Construction Bank Indonesia Tbk
Wells Fargo Bank NA, NY - 66,636 58,958 Wells Fargo Bank NA, NY
Indover Bank 7,949 9,735 10,084 Indover Bank
PT Bank Mandiri (Persero) Tbk - - 143,800 PT Bank Mandiri (Persero) Tbk
Dolar Australia Australian Dollar
Credit Industriel Et Commercial - 340,388 - Credit Industriel Et Commercial
Ing Bank NV - 272,311 - Ing Bank NV
Yuan Yuan
Bank of China 53,756 49,855 - Bank of China
Dolar Singapura Singapore Dollar
PT Bank National Nobu Tbk - 51,575 - PT Bank National Nobu Tbk
Jumlah Mata Uang Asing 7,128,855 6,178,654 3,842,020 Total Foreign Currencies
13,342,250 12,133,873 9,240,574
Dikurangi: Less:
Cadangan kerugian penurunan nilai (8,100) (29,143) (13,299) Allowance for impairment losses
13,334,150 12,104,730 9,227,275
Pada tanggal 31 Desember 2020, penempatan yang As at 31 December 2020, placement on sharia
didasarkan pada prinsip perbankan syariah sebesar banking principle amounted to Rp 5,000,834 (2019:
Rp 5.000.833 (2019: Rp 4.271.930; 2018: Rp 4,271,930; 2018: Rp 4,598,671).
Rp 4.598.671).
Pada tanggal 31 Desember 2020, terdapat As at 31 December 2020, there was impaired
penempatan pada bank lain yang mengalami placement with other bank which is placement in
penurunan nilai yaitu penempatan pada Indover Bank Indover Bank amounted to Rp 7,949 (2019:
sebesar Rp 7.949 (2019: Rp 9.735; 2018: Rp 10.084). Rp 9,735; 2018: Rp 10,084).

INDONESIA (lanjutan) INDONESIA (continued)
b. Berdasarkan kolektibilitas dan tahapan b. By collectibility and staging
Berdasarkan kolektibilitas By collectibility
2020 2019 2018

Lancar 13,334,301 12,124,138 9,230,490 Pass
Macet 7,949 9,735 10,084 Loss
13,342,250 12,133,873 9,240,574
Dikurangi: Less:
13,334,150
- 12,104,730
- 9,227,275
-
Berdasarkan tahapan By staging
2020
Tahap 1 13,334,301 Stage 1

Tahap 3 7,949 Stage 3
13,342,250
Dikurangi: Less:
Cadangan kerugian penurunan nilai (8,100) Allowance for impairment losses
13,334,150
-
c. Berdasarkan transaksi dengan pihak berelasi dan c. By transactions with related party and third party
pihak ketiga
Pada tanggal 31 Desember 2020, 2019, dan 2018, As at 31 December 2020, 2019, and 2018, there was
tidak terdapat penempatan pada pihak berelasi. no placement with related party.
d. Berdasarkan sisa umur jatuh tempo d. By remaining period to maturity
2020 2019 2018

< 1 bulan 13,342,250 12,133,873 9,240,574 < 1 month
Dikurangi: Less:
13,334,150 12,104,730 9,227,275

e. Penempatan pada bank lain yang digunakan e. Placement with other banks pledged as collateral
sebagai jaminan
tidak terdapat penempatan yang dijaminkan. no placement pledged as collateral.
f. Suku bunga rata-rata per tahun f. Average annual interest rates
2020 2019 2018

Rupiah 2.03% 4.77% 4.57% Rupiah
Mata Uang Asing 0.16% 2.72% 2.09% Foreign Currencies
g. Mutasi penempatan pada Bank lain dan Bank g. Movement of placement with other Banks and
Indonesia Bank Indonesia
Mutasi penempatan pada Bank lain dan Bank The movement of placement with other Banks and
Indonesia yang diberikan berdasarkan tahapan Bank Indonesia based on staging are as follows:
adalah:
2020
Tahap/ Tahap/
Stage 3 Stage 3
Tahap/ Tahap/ Kolektif/ Individual/ Jumlah/
Konvensional Stage 1 Stage 2 Collective Individual Total Conventional
Saldo awal 7,852,171 - - 9,735 7,861,906 Beginning balance
Perpindahan antar tahapan - - - - - Transfer within stages
Penambahan penempatan baru 3,439,788 - - - 3,439,788 New placement originated
Penempatan yang dipulihkan - - - (1,978) (1,978) Amount fully recovered
Pelepasan penempatan (2,958,492) - - - (2,958,492) Derecognition of placement
Lain-lain *) - - - 192 192 Others *)
Saldo akhir 8,333,467 - - 7,949 8,341,416 Ending balance
Syariah 5,000,833 Sharia
Jumlah 13,342,249 Total
* Termasuk selisih kurs karena penjabaran mata uang asing Include effect of foreign currency translation *
h. Cadangan kerugian penurunan nilai h. Allowance for impairment losses
Perubahan cadangan kerugian penurunan nilai adalah: Movements of allowance for impairment losses are
as follows:
31 Desember/December 2020 31 Desember/ 31 Desember/
Konvensional/ Syariah/ Jumlah/ December December
Conventional Sharia Total 2019 2018
Tahap/ Tahap/
Stage 3 Stage 3
Tahap/ Tahap/ Kolektif/ Individual/ Jumlah/ Jumlah/ Jumlah/ Jumlah/ Jumlah/
Stage 1 Stage 2 Collective Individual Total Total Total Total Total
Saldo awal - - - - 29,143 - 29,143 13,299 9,514 Beginning balance
Implementasi penerapan PSAK 71 - - - - - - - - - SFAS 71 implementation
dampak penerapan PSAK 71 19,408 - - 9,735 29,143 - 29,143 13,299 9,514 after impact of SFAS 71 implementation
Perpindahan antar tahapan - - - - - - - - - Transfer within stages
Jumlah yang dibebankan pada laba/rugi: Total charged to income statement:
Pembentukan/(pemulihan) selama periode berjalan (20,544) - - (1,786) (22,330) - (22,330) 16,210 3,024 Impairment/(reversal) during the period
Lain-lain *) 1,287 - - - 1,287 - 1,287 (366) 761 Others *)
Saldo akhir 151 - - 7,949 8,100 - 8,100 29,143 13,299 Ending balance

i. Cadangan kerugian penurunan nilai (lanjutan) i. Allowance for impairment losses (continued)
Cadangan kerugian penurunan nilai penempatan pada The allowance for impairment losses on placement with
bank lain dan Bank Indonesia dihitung secara kolektif other banks and Bank Indonesia is calculated based on
dan individual sesuai dengan PSAK 71 untuk tahun collective and individual assessment according to SFAS
2020 dan PSAK 55 untuk tahun 2019 dan 2018. 71 for 2020 and SFAS 55 for 2019 and 2018.
Manajemen berpendapat bahwa jumlah cadangan Management believes the allowance for impairment
kerugian penurunan nilai yang dibentuk telah losses is adequate.
memadai.
8. EFEK-EFEK 8. MARKETABLE SECURITIES
a. Berdasarkan tujuan, jenis, dan mata uang a. By purpose, type, and currency
2020 2019 2018
Biaya perolehan diamortisasi Amortised cost
Rupiah Rupiah
Sertifikat Bank Indonesia 560,000 - - Certificate of Bank Indonesia
Premi yang belum diamortisasi - - - Unamortised premium
Nilai bersih 560,000 - - Net
Obligasi 1,950,000 - - Bonds

Premi yang belum diamortisasi 3,553 - - Unamortised premium
Nilai bersih 1,953,553 - - Net
Tagihan Wesel Ekspor 109,422 - - Bill receivables

Wesel Jangka Menengah 15,000 - - Medium Term Notes

Tagihan Wesel Ekspor 44,051 - - Bill receivables
Jumlah biaya perolehan diamortisasi 2,682,026 - - Total amortised cost
Dimiliki hingga jatuh tempo Held-to-maturity
Rupiah Rupiah
Sertifikat Bank Indonesia - 500,000 300,000 Certificate of Bank Indonesia
Premi yang belum diamortisasi - 9,405 2,991 Unamortised premium
Nilai bersih - 509,405 302,991 Net
Obligasi - 2,326,000 2,561,000 Bonds

Diskonto yang belum diamortisasi - (30,993) (40,899) Unamortised discount
Nilai bersih - 2,295,007 2,520,101 Net
Tagihan Wesel Ekspor - 305,446 271,597 Bill receivables

Wesel Jangka Menengah - 15,000 15,000 Medium Term Notes

Tagihan Wesel Ekspor - 104,235 81,814 Bill receivables
Jumlah dimiliki hingga jatuh tempo - 3,229,093 3,191,503 Total held-to-maturity

8. EFEK-EFEK (lanjutan) 8. MARKETABLE SECURITIES (continued)

a. Berdasarkan tujuan, jenis, dan mata uang a. By purpose, type, and currency (continued)
(lanjutan)
2020 2019 2018
Nilai wajar melalui penghasilan Fair value through
komprehensif lain other comprehensive income
Rupiah Rupiah
Obligasi 5,587,640 - - Bonds
Keuntungan yang belum Unrealised gains on
direalisasi atas kenaikan nilai 84,695 - - increase in value
Nilai bersih 5,707,750 - - Net

Sertifikat Bank Indonesia 491,750 - - Certificate of Bank Indonesia
Kerugian yang belum Unrealised losses on
direalisasi atas penurunan nilai (215) - - decrease in value
Diskonto yang belum diamortisasi (195) - - Unamortised discount
Obligasi 112,400 - - Bonds

direalisasi atas kenaikan nilai 5,093 - - increase in value
Jumlah nilai wajar melalui Total fair value through

penghasilan komprehensif lain 6,318,757 - - other comprehensive income
Tersedia untuk dijual Available-for-sale
Rupiah Rupiah
direalisasi atas kenaikan nilai - 2,121 694 increase in value
Sertifikat Deposito Bank Indonesia - - 380,863 Bank Indonesia Certificates Deposit
direalisasi atas penurunan nilai - - (184) decrease in value
Diskonto yang belum diamortisasi - - (920) Unamortised discount
Nilai bersih - - 379,759 Net
Obligasi - 6,270,696 5,625,400 Bonds

Keuntungan/(kerugian) yang belum Unrealised gains/(losses) on
direalisasi atas kenaikan/(penurunan) nilai - 41,952 (163,903) increase/(decrease) in value
Nilai bersih - 6,358,527 5,508,584 Net

direalisasi atas penurunan nilai - (35) (1,836) decrease in value
Obligasi - 111,060 244,460 Bonds

Jumlah tersedia untuk dijual - 7,482,857 7,224,705 Total available-for-sale

a. Berdasarkan tujuan, jenis, dan mata uang a. By purpose, type, and currency (continued)
(lanjutan)
2020 2019 2018
Nilai wajar melalui laba rugi Fair value through profit or loss
Rupiah Rupiah
Obligasi 297,160 1,257,095 293,565 Bonds
direalisasi atas kenaikan/(penurunan) nilai 4,821 16,396 (3,239) increase/(decrease) in value
Nilai bersih 301,981 1,273,491 290,326 Net

Obligasi 21,230 13,299 9,117 Bonds
direalisasi atas kenaikan/(penurunan) nilai 2,507 1,971 (649) increase/(decrease) in value
Nilai bersih 23,737 15,270 8,468 Net
Jumlah nilai wajar melalui laba rugi 325,718 1,288,761 298,794 Total fair value through profit or loss
Jumlah efek-efek 9,326,501 12,000,711 10,715,002 Total securities

Dikurangi: Less:
9,310,186 11,962,665 10,676,225
b. Berdasarkan tujuan, jenis, mata uang dan penerbit b. By purpose, type, currency and issuer
2020 2019 2018

Rupiah Rupiah
Bank Indonesia 560,000 - - Bank Indonesia
PT Ultrajaya Milk Industry Tbk 400,000 - - PT Ultrajaya Milk Industry Tbk
PT Bank Tabungan Negara (Persero) Tbk 255,987 - - PT Bank Tabungan Negara (Persero) Tbk
PT Medco Energi Internasional Tbk 230,000 - - PT Medco Energi Internasional Tbk
PT Clipan Finance Indonesia 200,000 - - PT Clipan Finance Indonesia
PT Bank Rakyat Indonesia (Persero) Tbk 173,716 - - PT Bank Rakyat Indonesia (Persero) Tbk
PT Tunas Baru Lampung Tbk 134,939 - - PT Tunas Baru Lampung Tbk
PT Telekomunikasi Indonesia (Persero) Tbk 103,000 - - PT Telekomunikasi Indonesia (Persero) Tbk
PT Eatwell Culinary Indonesia 100,000 - - PT Eatwell Culinary Indonesia
PT Jakarta Lingkar Barat Satu 90,000 PT Jakarta Lingkar Barat Satu
PT Tower Bersama Infrastructure Tbk 75,000 - - PT Tower Bersama Infrastructure Tbk
PT Sinar Mas Resources and Technology Tbk 50,000 - - PT Sinar Mas Resources and Technology Tbk
Lembaga Pembiayaan Ekspor Indonesia 41,878 - - Lembaga Pembiayaan Ekspor Indonesia
PT Perusahaan Listrik Negara (Persero) 41,205 - - PT Perusahaan Listrik Negara (Persero)
PT Pupuk Indonesia (Persero) 30,290 PT Pupuk Indonesia (Persero)
PT Sarana Multi Infrastruktur (Persero) 20,282 PT Sarana Multi Infrastruktur (Persero)
PT Arpeni Pratama Ocean Line Tbk 15,000 - - PT Arpeni Pratama Ocean Line Tbk
PT Adira Dinamika Multi Finance Tbk 7,256 - - PT Adira Dinamika Multi Finance Tbk
Perusahaan lainnya (Wesel Ekspor) 109,422 - - Other companies (Bill receivables)
2,637,975 - -

Perusahaan lainnya (Wesel Ekspor) 44,051 - - Other companies (Bill receivables)

b. Berdasarkan tujuan, jenis, mata uang, dan b. By purpose, type, currency, and issuer
penerbit (lanjutan) (continued)
2020 2019 2018
Dimiliki hingga jatuh tempo Held-to-maturity

Rupiah Rupiah
Bank Indonesia - 809,405 302,991 Bank Indonesia
PT Bank Tabungan Negara (Persero) Tbk - 484,685 479,691 PT Bank Tabungan Negara (Persero) Tbk
PT Medco Energi Internasional Tbk - 230,000 230,000 PT Medco Energi Internasional Tbk
PT Telekomunikasi Indonesia (Persero) Tbk - 201,498 202,380 PT Telekomunikasi Indonesia (Persero) Tbk
PT Clipan Finance Indonesia - 200,000 200,000 PT Clipan Finance Indonesia
PT Bank Rakyat Indonesia (Persero) Tbk - 193,093 193,447 PT Bank Rakyat Indonesia (Persero) Tbk
PT Pos Indonesia - 150,000 150,000 PT Pos Indonesia
Lembaga Pembiayaan Ekspor Indonesia - 137,505 204,362 Lembaga Pembiayaan Ekspor Indonesia
PT Bank OCBC NISP Tbk - 108,226 195,211 PT Bank OCBC NISP Tbk
PT Tunas Baru Lampung Tbk - 100,000 100,000 PT Tunas Baru Lampung Tbk
PT Eatwell Culinary Indonesia - 100,000 100,000 PT Eatwell Culinary Indonesia
PT Jakarta Lingkar Barat Satu - 90,000 90,000 PT Jakarta Lingkar Barat Satu
PT Arpeni Pratama Ocean Line Tbk - 15,000 15,000 PT Arpeni Pratama Ocean Line Tbk
PT Sarana Multi Infrastruktur (Persero) - - 200,000 PT Sarana Multi Infrastruktur (Persero)
PT Tower Bersama Infrastructure Tbk - - 150,000 PT Tower Bersama Infrastructure Tbk
PT Indosat Tbk - - 25,010 PT Indosat Tbk
Perusahaan lainnya (Wesel Ekspor) - 305,446 271,597 Other companies (Bill receivables)
- 3,124,858 3,109,689

Perusahaan lainnya (Wesel Ekspor) - 104,235 81,814 Other companies (Bill receivables)
Jumlah dimiliki hingga jatuh tempo - 3,229,093 3,191,503 Total held-to-maturity

(3,229,093) (3,191,503)
Nilai wajar melalui penghasilan Fair value through
komprehensif lain other comprehensive income
Rupiah Rupiah
Lembaga Pembiayaan Ekspor Indonesia 623,683 - - Lembaga Pembiayaan Ekspor Indonesia
PT Bank Tabungan Negara (Persero) Tbk 567,278 - - PT Bank Tabungan Negara (Persero) Tbk
PT Indosat Tbk 564,635 - - PT Indosat Tbk
PT Bank Maybank Indonesia Tbk 458,599 - - PT Bank Maybank Indonesia Tbk
PT Waskita Karya Tbk 444,992 - - PT Waskita Karya Tbk
PT Perusahaan Listrik Negara (Persero) 369,770 - - PT Perusahaan Listrik Negara (Persero)
PT Sarana Multigriya Finansial (Persero) 357,688 - - PT Sarana Multigriya Finansial (Persero)
PT Astra Sedaya Finance 352,958 - - PT Astra Sedaya Finance
PT Pegadaian (Persero) 324,097 - - PT Pegadaian (Persero)
PT Adira Dinamika Multi Finance Tbk 229,298 - - PT Adira Dinamika Multi Finance Tbk
PT Indofood Sukses Makmur Tbk 199,802 - - PT Indofood Sukses Makmur Tbk
PT Sarana Multi Infrastruktur (Persero) 196,366 - - PT Sarana Multi Infrastruktur (Persero)
PT Chandra Asri Petrochemical Tbk 170,738 - - PT Chandra Asri Petrochemical Tbk
PT Federal International Finance 153,386 - - PT Federal International Finance
PT Pembangunan Perumahan (Persero) Tbk 151,191 - - PT Pembangunan Perumahan (Persero) Tbk
PT Aneka Tambang (Persero) Tbk 125,105 - - PT Aneka Tambang (Persero) Tbk
PT Ultrajaya Milk Industry Tbk 102,647 - - PT Ultrajaya Milk Industry Tbk
PT Telekomunikasi Indonesia (Persero) Tbk 83,782 - - PT Telekomunikasi Indonesia (Persero) Tbk
PT Bank Pan Indonesia Tbk 70,944 - - PT Bank Pan Indonesia Tbk
PT Bank Rakyat Indonesia (Persero) Tbk 57,629 - - PT Bank Rakyat Indonesia (Persero) Tbk
PT Hutama Karya (Persero) 46,096 - - PT Hutama Karya (Persero)
PT Bank Mandiri (Persero) Tbk 34,519 - - PT Bank Mandiri (Persero) Tbk
PT Bank Tabungan Pensiun Nasional Tbk 15,335 - - PT Bank Tabungan Pensiun Nasional Tbk
PT Bank Danamon Indonesia Tbk 7,212 - - PT Bank Danamon Indonesia Tbk
5,707,750 - -

Bank Indonesia 491,340 - - Bank Indonesia
PT Pertamina (Persero) 119,667 - - PT Pertamina (Persero)
611,007 - -
Jumlah nilai wajar melalui Total fair value through
penghasilan komprehensif lain 6,318,757 - - other comprehensive income

2020 2019 2018
Rupiah Rupiah
PT Indosat Tbk - 1,017,119 895,946 PT Indosat Tbk
PT Adira Dinamika Multi Finance Tbk - 648,597 608,754 PT Adira Dinamika Multi Finance Tbk
PT Waskita Karya Tbk - 450,135 432,819 PT Waskita Karya Tbk
PT Bank Maybank Indonesia Tbk - 447,942 419,998 PT Bank Maybank Indonesia Tbk
PT Pupuk Indonesia (Persero) - 422,816 331,089 PT Pupuk Indonesia (Persero)
PT Perusahaan Listrik Negara (Persero) - 329,014 158,643 PT Perusahaan Listrik Negara (Persero)
PT Sarana Multigriya Finansial (Persero) - 285,551 358,197 PT Sarana Multigriya Finansial (Persero)
PT Pegadaian (Persero) - 273,404 240,079 PT Pegadaian (Persero)
PT Federal International Finance - 223,853 247,336 PT Federal International Finance
PT Astra Sedaya Finance - 202,393 157,758 PT Astra Sedaya Finance
PT Bank Tabungan Negara (Persero) Tbk - 197,719 111,917 PT Bank Tabungan Negara (Persero) Tbk
PT Indofood Sukses Makmur Tbk - 196,238 227,737 PT Indofood Sukses Makmur Tbk
PT Pembangunan Perumahan (Persero) Tbk - 150,099 142,973 PT Pembangunan Perumahan (Persero) Tbk
PT Aneka Tambang (Persero) Tbk - 124,320 117,694 PT Aneka Tambang (Persero) Tbk
PT Kereta Api Indonesia (Persero) - 106,241 99,964 PT Kereta Api Indonesia (Persero)
PT Telekomunikasi Indonesia (Persero) Tbk - 94,962 91,195 PT Telekomunikasi Indonesia (Persero) Tbk
PT Jasa Marga (Persero) Tbk - 78,479 97,408 PT Jasa Marga (Persero) Tbk
PT Bank Pan Indonesia Tbk - 59,591 55,588 PT Bank Pan Indonesia Tbk
PT Sarana Multi Infrastruktur (Persero) - 57,496 10,861 PT Sarana Multi Infrastruktur (Persero)
PT Hutama Karya (Persero) - 45,612 42,933 PT Hutama Karya (Persero)
PT Toyota Astra Financial Services - 39,147 36,076 PT Toyota Astra Financial Services
PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk - 38,175 36,734 PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk
PT Bank UOB Indonesia - 26,263 25,359 PT Bank UOB Indonesia
PT Chandra Asri Petrochemical Tbk - 20,026 18,790 PT Chandra Asri Petrochemical Tbk
PT Bank OCBC NISP Tbk - 16,168 50,573 PT Bank OCBC NISP Tbk
PT AKR Corporindo Tbk - - 70,050 PT AKR Corporindo Tbk
- 7,089,666 6,422,273

PT Pertamina (Persero) - 116,977 114,235 PT Pertamina (Persero)
PT Perusahaan Listrik Negara (Persero) - - 92,915 PT Perusahaan Listrik Negara (Persero)
Lembaga Pembiayaan Ekspor Indonesia - - 27,317 Lembaga Pembiayaan Ekspor Indonesia
- 393,191 802,432
Jumlah tersedia untuk dijual - 7,482,857 7,224,705 Total available-for-sale

2020 2019 2018

Nilai wajar melalui laba rugi Fair value through profit or loss
Rupiah Rupiah
PT Sarana Multi Infrastruktur (Persero) 150,135 20,207 - PT Sarana Multi Infrastruktur (Persero)
PT Mandiri Tunas Finance 36,947 - 1,005 PT Mandiri Tunas Finance
PT Bank Tabungan Negara (Persero) Tbk 26,770 25,474 1,018 PT Bank Tabungan Negara (Persero) Tbk
PT Indofood Sukses Makmur Tbk 25,948 1,025 10,442 PT Indofood Sukses Makmur Tbk
PT Perusahaan Listrik Negara (Persero) 18,867 140,959 - PT Perusahaan Listrik Negara (Persero)
PT Sarana Multigriya Finansial (Persero) 16,314 184,098 56,619 PT Sarana Multigriya Finansial (Persero)
PT Indosat Tbk 15,613 203,407 15,735 PT Indosat Tbk
PT Astra Sedaya Finance 10,344 200,497 - PT Astra Sedaya Finance
PT Semen Indonesia (Persero) Tbk 731 39,896 - PT Semen Indonesia (Persero) Tbk
PT Indomobil Finance Indonesia 150 - 754 PT Indomobil Finance Indonesia
PT Adira Dinamika Multi Finance Tbk 122 72,928 29,896 PT Adira Dinamika Multi Finance Tbk
PT Tower Bersama Infrastructure Tbk 30 - - PT Tower Bersama Infrastructure Tbk
PT Kereta Api Indonesia (Persero) 10 40,112 - PT Kereta Api Indonesia (Persero)
PT Toyota Astra Financial Services - 60,226 - PT Toyota Astra Financial Services
PT Waskita Karya Tbk - 39,452 68,118 PT Waskita Karya Tbk
PT Federal International Finance - 30,139 9,798 PT Federal International Finance
PT Pupuk Indonesia (Persero) - 27,232 29 PT Pupuk Indonesia (Persero)
PT Bank Maybank Indonesia Tbk - 20,116 249 PT Bank Maybank Indonesia Tbk
PT Bank Tabungan Pensiun Nasional Tbk - 15,067 - PT Bank Tabungan Pensiun Nasional Tbk
PT Bank Mandiri (Persero) Tbk - 10,373 2,918 PT Bank Mandiri (Persero) Tbk
PT Maybank Indonesia Finance - 6,196 1,037 PT Maybank Indonesia Finance
PT Bussan Auto Finance - 101 972 PT Bussan Auto Finance
PT Wahana Ottomitra Multiartha Tbk - - 10,104 PT Wahana Ottomitra Multiartha Tbk
PT Hutama Karya (Persero) - - 9,541 PT Hutama Karya (Persero)
PT Bank OCBC NISP Tbk - - 3,981 PT Bank OCBC NISP Tbk
PT Chandra Asri Petrochemical Tbk - - 1,963 PT Chandra Asri Petrochemical Tbk
PT Surya Artha Nusantara Finance - - 1,004 PT Surya Artha Nusantara Finance
PT Bank Pembangunan Daerah Sulawesi Utara dan Gorontalo - - 20 PT Bank Pembangunan Daerah Sulawesi Utara dan Gorontalo
301,981 1,273,491 290,326

PT Perusahaan Listrik Negara (Persero) 10,525 8,361 8,299 PT Perusahaan Listrik Negara (Persero)
PT Pertamina (Persero) 13,212 6,909 169 PT Pertamina (Persero)
23,737 15,270 8,468
Jumlah nilai wajar melalui laba rugi 325,718 1,288,761 298,794 Total fair value through profit or loss
Jumlah efek-efek 9,326,501 12,000,711 10,715,002 Total marketable securities

Dikurangi: Less:
9,310,186 11,962,665 10,676,225


c. Berdasarkan sisa umur jatuh tempo c. By remaining period to maturity
Saldo efek-efek pada tanggal 31 Desember 2020, As at 31 December 2020, 2019, and 2018, the
2019, dan 2018, berdasarkan sisa umur jatuh tempo balance of marketable securities according to
adalah: remaining periods to maturity are as follows:
2020 2019 2018
< 1 bulan 551,544 1,009,065 500,645 < 1 month
> 1 - ≤ 3 bulan 669,528 1,813,217 735,736 > 1 - ≤ 3 months
> 3 - ≤ 12 bulan 2,837,200 2,917,638 2,304,220 > 3 - ≤ 12 months
> 1 - ≤ 5 tahun 5,223,825 6,090,119 6,951,508 > 1 - ≤ 5 years
> 5 tahun 44,404 170,672 222,893 > 5 years
9,326,501 12,000,711 10,715,002
Dikurangi: Cadangan kerugian penurunan nilai (16,315) (38,046) (38,777) Less: Allowance for impairment losses
9,310,186 11,962,665 10,676,225
d. Berdasarkan kolektibilitas dan tahapan d. By collectability and staging

Berdasarkan kolektibilitas By collectability
2020 2019 2018
Lancar 8,866,509 11,985,711 10,700,002 Pass

Kurang lancar 444,992 - - Substandard
Macet 15,000 15,000 15,000 Loss
9,326,501 12,000,711 10,715,002
9,310,186 11,962,665 10,676,225
2020
Tahap 1 8,866,509 Stage 1

9,326,501
Dikurangi: Cadangan kerugian penurunan nilai (16,315) Less: Allowance for impairment losses
9,310,186
-

e. Efek-efek yang dijadikan jaminan e. Marketable securities pledged as collateral
Pada tanggal 31 Desember 2020, 2019, dan 2018, As at 31 December 2020, 2019, and 2018, there
tidak terdapat efek-efek yang dijadikan jaminan untuk were no marketable securities pledged as collateral
pinjaman yang diterima. for a borrowing transaction.
f. Berdasarkan efek Bank Indonesia serta f. By Bank Indonesia’s and other companies’
perusahaan lain marketable securities
2020 2019 2018
Perusahaan lain 8,275,161 10,183,953 8,930,358 Other companies
9,326,501 12,000,711 10,715,002
9,310,186 11,962,665 10,676,225
g. Suku bunga rata-rata per tahun g. Average annual interest rates
2020 2019 2018

Rupiah 6.74% 7.30% 6.75% Rupiah
Mata uang asing 1.37% 2.47% 2.61% Foreign currency
h. Mutasi efek-efek h. Movement of marketable securities
Mutasi efek efek yang diberikan berdasarkan tahapan The movement of marketable securities based on
adalah: staging are as follows:
2020
Tahap/ Tahap/
12-month ECL (Stage 1) Stage 3 Stage 3
Stage 1 Stage 2 Collective Individual Total
Konvensional Conventional
Saldo awal 10,911,306 - - 15,000 10,926,306 Beginning balance
Perpindahan antar tahapan: Transfer within stages:
Pindah ke tahap 2 (450,135) 450,135 - - - Transfer to stage 2
Penambahan surat berharga 16,899,907 - - - 16,899,907 New financial asset originated
Penjualan surat berharga (19,169,569) (5,144) - - (19,174,712) Derecognition of marketable securities
Saldo akhir 8,191,509 444,992 - 15,000 8,651,501 Ending balance
Syariah 675,000 Sharia

i. Cadangan kerugian penurunan nilai i. Allowance for impairment losses

Perubahan cadangan kerugian penurunan nilai adalah: Movements in the allowance for impairment losses
are as follows:
2020 31 Desember/ 31 Desember/
12 bulan/months 12 bulan/months 12 bulan/months
Tahap/ Tahap/
Stage 3 Stage 3
Saldo awal - - - - 37,654 392 38,046 38,777 38,556 Beginning balance
Implementasi penerapan PSAK 71 - - - - (18,096) - (18,096) - - SFAS 71 implementation
dampak penerapan PSAK 71 4,289 269 - 15,000 19,558 392 19,950 38,777 38,556 after impact of SFAS 71 implementation
Perpindahan antar tahapan - - - - - - - - - Transfer within stages
Jumlah yang dibebankan pada laba/rugi: Total charged to income statement:
Pembentukan/(pemulihan) selama periode berjalan (299) (269) - - (568) (102) (670) (731) 221 Impairment/(reversal) during the period
Lain-lain *) (2,965) - - - (2,965) - (2,965) - - Others *)
Saldo akhir 1,025 - - 15,000 16,025 290 16,315 38,046 38,777 Ending balance
Perubahan cadangan kerugian penurunan nilai adalah Changes in allowance for impairment losses for
untuk efek efek dengan klasifikasi biaya perolehan marketable securities classified as amortised costs/
diamortisasi/ dimiliki hingga jatuh tempo. held-to-maturity.
Pada tanggal 31 Desember 2020, terdapat surat As at 31 December 2020, there was impairment loss
berharga yang mengalami kerugian penurunan nilai marketable security amounted to Rp 15,000 (2019
sebesar Rp 15.000 (2019 dan 2018: Rp 15.000). and 2018: Rp 15,000).
Manajemen berpendapat bahwa jumlah cadangan Management believes that the allowance for
kerugian penurunan nilai di atas telah memadai. impairment losses above is adequate.
j. Berdasarkan transaksi dengan pihak berelasi dan j. By transactions with related party and third party
pihak ketiga
Pada tanggal 31 Desember 2020, 2019, dan 2018 As at 31 December 2020, 2019, and 2018 there were
tidak terdapat efek-efek dari pihak berelasi. no marketable securities from related party.
k. Informasi pokok lainnya sehubungan dengan efek- k. Other significant information relating to
efek marketable securities
Informasi peringkat atas efek-efek berdasarkan Information on the rating of marketable securities
lembaga pemeringkat – PT Pemeringkat Efek based on rating agencies - PT Pemeringkat Efek
Indonesia (PT Pefindo), Standard & Poor’s dan Indonesia (PT Pefindo), Standard & Poor’s and
Moody’s diungkapkan pada Catatan 53 (vii). Moody’s are disclosed in Note 53 (vii).
l. Transaksi Lindung Nilai l. Hedge Transaction
Pada tanggal 14 Agustus 2018 Bank CIMB Niaga As at 14 August 2018, Bank CIMB Niaga performed
melakukan lindung nilai atas nilai wajar obligasi fair value hedged of corporate bonds of USD
korporasi sebesar USD 5.000.000 dengan kontrak 5,000,000 using interest rate swap contracts with
swap tingkat suku bunga, dengan nilai nosional notional amount of USD 5,000,000 (refer to Note 11).
sebesar USD 5.000.000 (lihat Catatan 11).
Pada tanggal 14 Agustus 2018 Bank CIMB Niaga As at 14 August 2018, Bank CIMB Niaga performed
melakukan lindung nilai atas nilai wajar obligasi fair value hedged of corporate bonds of USD
korporasi sebesar USD 3.000.000 dengan kontrak 3,000,000 using interest rate swap contracts with
swap tingkat suku bunga, dengan nilai nosional notional amount of USD 3,000,000 (refer to Note 11).
sebesar USD 3.000.000 (lihat Catatan 11).

m. Transaksi Lindung Nilai (lanjutan) m. Hedge Transaction (continued)
Pada tanggal 5 Desember 2018 Bank CIMB Niaga As at 5 December 2018, Bank CIMB Niaga performed
melakukan lindung nilai atas nilai wajar obligasi fair value hedged of corporate bonds of Rp 421,500
korporasi sebesar Rp 421.500 dengan kontrak swap using interest rate swap contracts with notional
tingkat suku bunga, dengan nilai nosional sebesar amount of Rp 421,500 (refer to Note 11).
Rp 421.500 (lihat Catatan 11).
Pada tanggal 15 April 2019 Bank CIMB Niaga As at 15 April 2019, Bank CIMB Niaga performed fair
melakukan lindung nilai atas nilai wajar obligasi value hedged of corporate bonds of Rp 100,000 using
korporasi sebesar Rp 100.000 dengan kontrak swap interest rate swap contracts with notional amount of
tingkat suku bunga, dengan nilai nosional sebesar Rp 100,000 (refer to Note 11).
Pada tanggal 23 April 2019 Bank CIMB Niaga As at 23 April 2019, Bank CIMB Niaga performed fair
melakukan lindung nilai atas nilai wajar obligasi value hedged of corporate bonds of Rp 200,000 using
korporasi sebesar Rp 200.000 dengan kontrak swap interest rate swap contracts with notional amount of
tingkat suku bunga, dengan nilai nosional sebesar Rp 200,000 (refer to Note 11).
Pada tanggal 31 Desember 2020, 2019, dan 2018, As at 31 December 2020, 2019, and 2018, Bank CIMB
Bank CIMB Niaga telah melakukan evaluasi terhadap Niaga has performed the hedging evaluation of bond
lindung nilai tersebut yang mana masih memenuhi fair value which still meets the criteria of hedge
kriteria akuntansi lindung nilai. accounting.
Hasil bersih dari keuntungan instrumen lindung nilai The net effect of the gain from the hedging instrument
dan keuntungan/(kerugian) hedge item yang dilindungi and gain/(losses) from the hedged item (corporate
nilainya (obligasi korporasi) disajikan pada tabel bonds) are summarised below:
berikut ini:
2020 2019 2018
Kerugian instrumen lindung nilai (8,409) (23,992) (1,468) Losses on hedging instrument
Keuntungan hedged item yang Gains on hedged item
berhubungan dengan risiko yang dilindung nilai 6,948 23,442 9,227 attributable to hedged risk
(Kerugian)/keuntungan bersih dari transaksi lindung nilai (1,461) (550) 7,759 Net (losses)/gains from hedging transaction
n. Informasi lain n. Other information
Selama tahun 2020, Bank CIMB Niaga telah menjual During 2020, Bank CIMB Niaga has sold marketable
efek efek dengan jumlah nilai nominal sebesar securities with total nominal value of Rp 13,130,739
Rp 13.130.739 dan USD 430,18 juta (2019: and USD 430.18 million (2019: Rp 17,043,055 and
Rp 17.043.055 dan USD 257,57 juta; 2018: USD 257.57 million; 2018: Rp 16,791,106 and
Rp 16.791.106 dan USD 79,77 juta) dengan USD 79.77 million) with gains amounted to Rp 58,814
keuntungan sebesar Rp 58.814 (2019: Rp 77.844; (2019: Rp 77,844; 2018: Rp 48,212) (refer to Note
2018: Rp 48.212) (lihat Catatan 41). 41).
Pada tanggal 31 Desember 2020, efek-efek yang As at 31 December 2020, marketable securities on
didasarkan pada prinsip perbankan syariah adalah sharia banking principle amounted to Rp 675,000
sebesar Rp 675.000 (2019: Rp 624.405; 2018: (2019: Rp 624,405; 2018: Rp 327,991).
Rp 327.991).


o. Informasi lain (lanjutan) o. Other information (continued)
Pada tanggal 31 Desember 2020, efek-efek akan jatuh As at 31 December 2020, marketable securities will
tempo pada beberapa tanggal antara tanggal mature on various dates between 4 January 2021 up
4 Januari 2021 sampai dengan tanggal 25 Februari to 25 February 2060 (2019: 2 January 2020 up to
2060 (2019: 2 Januari 2020 sampai dengan 5 Februari 5 February 2050; 2018: 1 January 2019 up to 30 May
2050; 2018: 1 Januari 2019 sampai dengan 30 Mei 2044).
2044).
9. OBLIGASI PEMERINTAH 9. GOVERNMENT BONDS
a. Berdasarkan jenis a. Based on type
2020 2019 2018

Nilai nominal 17,768,367 - - Nominal value
Dimiliki hingga jatuh tempo Held to maturity

Nilai nominal - 14,149,516 14,843,469 Nominal value
Jumlah dimiliki hingga jatuh tempo - 14,371,087 15,123,088 Total held to maturity
Nilai wajar melalui penghasilan komprehensif lain Fair value through other comprehensive income
Nilai nominal 28,011,536 - - Nominal value
Keuntungan yang belum Unreliased gains on
direalisasi atas kenaikan nilai 1,272,848 - - increase in value
Jumlah nilai wajar melalui penghasilan komprehensif lain 30,047,459 - - Total fair value through other comprehensive income
Nilai nominal - 5,653,023 7,285,894 Nominal value

Keuntungan/(kerugian) yang belum Unreliased gains/(loss) on
Jumlah nilai wajar - tersedia untuk dijual - 5,757,240 7,242,783 Total fair value - available-for-sale
Nilai wajar melalui laba rugi Fair value through profit and loss
Nilai nominal 7,407,033 1,970,908 1,623,980 Nominal value
Keuntungan yang belum Unreliased gains on
direalisasi atas kenaikan nilai 558,563 61,068 9,921 increase in value
Jumlah nilai wajar melalui laba rugi 7,965,596 2,031,976 1,633,901 Total fair value through profit and loss
Jumlah Obligasi Pemerintah 55,828,799 22,160,303 23,999,772 Total Government Bonds
Pada tanggal 31 Desember 2020, Obligasi As at 31 December 2020, Government Bonds in

Pemerintah dalam mata uang asing adalah sebesar foreign currency amounted to Rp 4,392,888 (2019:
Rp 4.392.888 (2019: Rp 4.829.774; 2018: Rp 4,829,774; 2018: Rp 5,399,028).
Rp 5.399.028).

9. OBLIGASI PEMERINTAH (lanjutan) 9. GOVERNMENT BONDS (continued)

a. Berdasarkan jenis (lanjutan) a. Based on type (continued)
Pada tanggal 7 November 2018, 17 Oktober 2018, As at 7 November 2018, 17 October 2018, 21 August
21 Agustus 2018, 15 Agustus 2018, 3 Juli 2018, 2 Juli 2018, 15 August 2018, 3 July 2018, 2 July 2018,
2018, 29 Juni 2018, 15 Mei 2018 dan 14 Mei 2018, 29 June 2018, 15 May 2018 and 14 May 2018,
Obligasi Pemerintah tersedia untuk dijual masing- available-for-sale Government Bonds amounted to
masing sebesar Rp 600.000, Rp 460.000, Rp 456.573, Rp 600,000, Rp 460,000, Rp 456,573, Rp 1,707,737,
Rp 1.707.737, Rp 369.070, Rp 186.909, Rp 1.288.000, Rp 369,070, Rp 186,909, Rp 1,288,000, Rp 314,198
Rp 314.198 dan Rp 530.860 direklasifikasi menjadi and Rp 530,860 respectively reclassified as held-to-
dimiliki hingga jatuh tempo dengan akumulasi kerugian maturity with cumulative of unrealised losses in
yang belum direalisasi atas penurunan nilai yang telah decrease in value which already been recognised in
diakui sebelumnya di pendapatan komprehensif other comprehensive income amounted to
lainnya masing-masing sebesar Rp 25.743, Rp 25,743, Rp 39,626, Rp 11,430, Rp 43,904,
Rp 39.626, Rp 11.430, Rp 43.904, Rp 24.215, Rp 24,215, Rp 20,683, Rp 34,067, Rp 16,990 and
Rp 20.683, Rp 34.067, Rp 16.990 dan Rp 41.314, Rp 41,314, respectively will be amortised until maturity
akan di amortisasi hingga jatuh tempo. Pada tanggal date. As at 31 December 2020, unamortised
31 Desember 2020, kerugian yang belum unrealised losses in decrease in value amounted to
direalisasikan yang belum diamortisasi akibat Rp 99,850 (2019: Rp 189,756; 2018: Rp 301,851) and
penurunan nilai adalah sebesar Rp 99.850 (2019: amortisation for the year ended 31 December 2020
Rp 189.756; 2018: Rp 301.851) dan amortisasi untuk amounted to Rp 84,321 (2019: Rp 68,217; 2018:
tahun yang berakhir 31 Desember 2020 sebesar Rp 39,323).
Rp 84.321 (2019: Rp 68.217; 2018: Rp 39.323).
Perbedaan antara biaya perolehan diamortisasi yang Difference between the new amortised cost as at
baru pada saat reklasifikasi dan jumlah nominal pada reclassification date and nominal amount as at
saat jatuh tempo masing - masing sebesar Rp 18.589, maturity date amounted to Rp 18,589, Rp 39,585,
Rp 39.585, Rp 17.844, Rp 90.459, Rp 8.526, Rp 17,844, Rp 90,459, Rp 8,526, Rp 2,112,
Rp 2.112, Rp 29.802, Rp 1.281 dan Rp 30.105 Rp 29,802, Rp 1,281 and Rp 30,105, respectively is
diamortisasi hingga jatuh tempo dan diakui seperti amortised until maturity date and recognised similar
premi/diskonto. Pada tanggal 31 Desember 2020, with premium/discount. As at 31 December 2020,
premi/diskonto yang belum diamortisasi sebesar unamortised premium/discount amounted to
Rp 35.025 (2019: Rp 32.592; 2018: Rp 8.399). Rp 35,025 (2019: Rp 32,592; 2018: Rp 8,399).
b. Berdasarkan jenis dan jatuh tempo b. Based on type and maturity
2020
≤ 1 bulan/ > 1-≤ 3 bulan/ > 3-≤ 12 bulan/ > 1-≤ 5 tahun/ > 5 tahun/ Jumlah/
month months months years years Total
Rp Rp Rp Rp Rp Rp
Biaya perolehan diamortisasi - 200,055 587,217 12,751,050 4,277,422 17,815,744 Amortised cost
Nilai wajar melalui penghasilan Fair value through other
komprehensif lain 1,014,051 284,895 2,038,411 13,025,597 13,684,505 30,047,459 comprehensice income
Fair value through
Nilai wajar melalui laba rugi - 27,077 1,205,684 5,454,395 1,278,440 7,965,596 profit or loss
1,014,051 512,027 3,831,312 31,231,042 19,240,367 55,828,799
2019
Rp Rp Rp Rp Rp Rp
Dimiliki hingga jatuh tempo - 892,052 1,361,374 8,219,093 3,898,568 14,371,087 Held-to-maturity
Tersedia untuk dijual 1,102,998 409,730 - 3,978,513 265,999 5,757,240 Available-for-sale
Diperdagangkan - 55,506 161,958 1,397,043 417,469 2,031,976 Trading
1,102,998 1,357,288 1,523,332 13,594,649 4,582,036 22,160,303
2018
month bulan/ bulan/ tahun/ tahun/ Total
Rp Rp Rp Rp Rp Rp
Dimiliki hingga jatuh tempo - 378,517 1,180,430 8,925,256 4,638,885 15,123,088 Held-to-maturity
Tersedia untuk dijual - 735,216 4,513,091 1,994,476 - 7,242,783 Available-for-sale
Diperdagangkan 5,514 16,190 194,025 941,851 476,321 1,633,901 Trading
5,514 1,129,923 5,887,546 11,861,583 5,115,206 23,999,772

c. Tingkat suku bunga rata-rata c. Average of interest rate
2020 2019 2018

Suku bunga tetap Fixed interest rate
Rupiah 6.55% 6.92% 6.37% Rupiah
Mata uang asing 2.85% 3.45% 3.38% Foreign currency
d. Obligasi Pemerintah yang dijadikan jaminan d. Government Bonds pledged as collateral
Pada tanggal 31 Desember 2020, Obligasi Pemerintah As at 31 December 2020, Government Bonds pledged
yang dijadikan jaminan untuk efek-efek yang dijual as collateral for a securities sold under repurchased
dengan janji dibeli kembali sebesar Rp 8.650.000 agreements amounted to Rp 8,650,000 (2019:
(2019: Rp 10.450.000; 2018: Rp 12.450.000). Rp 10,450,000; 2018: Rp 12,450,000).
e. Transaksi Lindung Nilai e. Hedge Transaction
Pada tanggal 7 Mei 2018 Bank CIMB Niaga As at 7 May 2018, Bank CIMB Niaga performed fair
melakukan lindung nilai atas nilai wajar pada sebagian value hedged of a proportion of Government Bonds of
Obligasi Pemerintah sebesar USD 115.000.000 USD 115,000,000 using interest rate swap contracts
dengan kontrak swap tingkat suku bunga, dengan nilai with notional amount of USD 50,000,000 (refer to
nosional sebesar USD 50.000.000 (lihat Catatan 11). Note 11).
Obligasi Pemerintah sebesar USD 115.000.000 USD 115,000,000 using interest rate swap contracts
dengan kontrak swap tingkat suku bunga, dengan nilai with notional amount of USD 25,000,000 (refer to
Obligasi Pemerintah sebesar USD 37.932.000 dengan USD 37,932,000 using interest rate swap contracts
kontrak swap tingkat suku bunga, dengan nilai with notional amount of USD 26,900,000 (refer to
Pada tanggal 5 Juli 2018 Bank CIMB Niaga melakukan As at 5 July 2018, Bank CIMB Niaga performed fair
lindung nilai atas nilai wajar Obligasi Pemerintah value hedged of Government Bonds of USD 8,000,000
sebesar USD 8.000.000 dengan kontrak swap tingkat using interest rate swap contracts with notional
suku bunga, dengan nilai nosional sebesar amount of USD 8,000,000 (refer to Note 11).
USD 8.000.000 (lihat Catatan 11).

e. Transaksi Lindung Nilai (lanjutan) e. Hedge Transaction (continued)
Pada tanggal 31 Desember 2020, 2019, dan 2018 As at 31 December 2020, 2019 and 2018 Bank CIMB
Bank CIMB Niaga telah melakukan evaluasi terhadap Niaga has performed the hedging evaluation of bond
lindung nilai dan hasilnya masih memenuhi kriteria fair value and the result is still meets the criteria of
akuntansi lindung nilai. hedge accounting.
Hasil bersih dari kerugian instrumen lindung nilai dan The net effect of the loss from the hedging instrument
keuntungan/(kerugian) hedge item yang dilindungi and gains/(losses) from the hedged item (Government
nilainya (Obligasi Pemerintah) disajikan pada tabel Bonds) are summarised below:
berikut ini:
2020 2019 2018
Kerugian instrumen lindung nilai (34,331) (39,684) (26,281) Losses on hedging instrument
Keuntungan hedged item yang
berhubungan dengan risiko yang Gains on hedged item
dilindung nilai 26,811 36,111 18,919 attributable to hedged risk
Kerugian bersih dari transaksi lindung nilai (7,520) (3,573) (7,362) Net losses from hedging transaction
f. Informasi lain f. Other information
Selama tahun yang berakhir 31 Desember 2020, Bank During the year ended 31 December 2020, Bank CIMB
CIMB Niaga telah menjual Obligasi Pemerintah Niaga has sold Government Bonds with total nominal
dengan jumlah nilai nominal sebesar Rp 259.003.371 value of Rp 259,003,371 and USD 913.66 million
dan USD 913.66 juta (2019: Rp 167.355.548 dan (2019: Rp 167,355,548 and USD 794.39 million; 2018:
USD 794,39 juta; 2018: Rp 110.919.934 dan Rp 110,919,934 and USD 417.58 million) with gains
USD 417,58 juta) dengan keuntungan sebesar amounted to Rp 747,046 (2019: Rp 299,713; 2018:
Rp 747.046 (2019: Rp 299.713; 2018: Rp 50.803)
Rp 50,803) (refer to Note 41).
(lihat Catatan 41).
Pada tanggal 31 Desember 2020, Obligasi Pemerintah As at 31 December 2020, Government Bonds will
akan jatuh tempo pada beberapa tanggal antara mature on various dates between 4 January 2021 up
tanggal 4 Januari 2021 sampai dengan tanggal to 15 October 2050 (2019: 2 January 2020 up to
15 Oktober 2050 (2019: 2 Januari 2020 sampai 5 February 2050; 2018: 4 January 2019 up to
dengan 5 Februari 2050; 2018: 4 Januari 2019 sampai 11 February 2049).
dengan 11 Februari 2049).
Pada tanggal 31 Desember 2020, seluruh Obligasi As at 31 December 2020 all Goverment Bonds were
Pemerintah digolongkan sebagai lancar dan tahapan 1 classified as pass and Stage 1 and as at 2019 and
dan pada 2019 dan 2018 dan digolongkan sebagai 2018 were classified as pass.
lancar.

10. EFEK-EFEK YANG DIBELI DENGAN JANJI DIJUAL 10. SECURITIES PURCHASED UNDER RESALE
KEMBALI DAN YANG DIJUAL DENGAN JANJI DIBELI AGREEMENTS AND SOLD UNDER REPURCHASE
KEMBALI AGREEMENTS
a. Efek-efek yang dibeli dengan janji dijual kembali a. Securities purchased under resale agreements
2020
Jenis Tanggal
Efek/ Tingkat Tingkat Dimulai/ Tanggal
Pihak Penjual/ Type of Nilai Nominal/ Suku Bunga/ Kupon/ Commencement Jatuh Tempo/ Nilai Tercatat/
Counterparty Securities Nominal Amount Interest Rate Coupon Rate Date Maturity Date Carrying Amount
Bank Indonesia FR0079 400,000 3.95% 8.38% 2 Oktober/October 2020 1 Oktober/October 2021 423,164
Bank Indonesia FR0068 300,000 4.85% 8.38% 13 Maret/March 2020 15 Maret/March 2021 304,950
PT Bank Maybank Indonesia, Tbk FR0082 300,000 3.77% 7.00% 14 Desember/December 2020 14 Januari/January 2021 287,364
Bank Indonesia FR0065 300,000 3.92% 6.63% 2 Oktober/October 2020 2 Juli/July 2021 277,708
Bank Indonesia FR0079 200,000 4.00% 8.38% 2 Oktober/October 2020 1 Oktober/October 2021 211,582
Bank Indonesia FR0065 200,000 3.95% 6.63% 2 Oktober/October 2020 2 Juli/July 2021 185,139
PT Bank Maybank Indonesia, Tbk FR0064 200,000 3.87% 6.13% 25 November/November 2020 8 Januari/January 2021 180,418
Bank Indonesia FR0046 100,000 5.14% 9.50% 17 Januari/January 2020 15 Januari/January 2021 104,985
Bank Indonesia FR0035 100,000 4.65% 6.50% 3 April/April 2020 5 April/April 2021 92,944
Bank Indonesia FR0046 71,539 5.15% 9.50% 17 Januari/January 2020 15 Januari/January 2021 75,105
Bank Indonesia FR0082 23,810 5.15% #N/A7.00% 10 Januari/January 2020 8 Januari/January 2021 23,108
Jumlah/ Total 2,345,349 2,305,523
2019
Jenis Tanggal
PT Bank Rakyat Indonesia (Persero) Tbk FR0074 100,000 #N/A5.40% 7.50% 20 Desember/December 2019 20 Januari/January 2020 88,650
Jumlah/ Total 550,000 522,857
2018
Jenis Tanggal
Bank Indonesia FR0064 300,000 6.13% 5.97% 27 Juli/July 2018 25 Januari/January 2019 255,678
Bank Indonesia FR0064 200,000 6.13% 6.00% 27 Juli/July 2018 25 Januari/January 2019 170,452
Bank Indonesia FR0064 200,000 6.13% 6.65% 28 September/September 2018 28 Juni/June 2019 167,463
Jumlah/ Total 700,000 593,593
Pada tanggal 31 Desember 2020, seluruh efek-efek As at 31 December 2020, all securities purchased
yang dibeli dengan janji dijual kembali digolongkan under resale agreements were classified as pass and
sebagai lancar dan tahapan 1 dan pada 2019 dan stage 1 and as at 2019 and 2018 were classified as
2018 digolongkan sebagai lancar. pass.
tidak terdapat saldo efek-efek yang dibeli dengan janji no balance of securities purchased under resale
dijual kembali dengan pihak berelasi. agreement with related party.

KEMBALI (lanjutan) AGREEMENTS (continued)
b. Efek-efek yang dijual dengan janji dibeli kembali b. Securities sold under repurchase agreements
2020
Jenis Tanggal
Pihak Pembeli/ Type of Nilai Nominal/ Suku Bunga/ Kupon/ Commencement Jatuh Tempo/ Nilai Tercatat/
Bank Indonesia FR0082 2,000,000 4.03% 7.00% 30 Desember/December 2020 13 Januari/January 2021 2,092,654
Bank Indonesia PBS026 1,250,000 4.03% 6.00% 29 December/December 2020 12 Januari/January 2021 1,188,398
Bank Indonesia PBS026 1,100,000 4.03% 6.63% 29 December/December 2020 12 Januari/January 2021 1,101,144
Bank Indonesia FR0087 1,000,000 4.00% 6.50% 30 December/December 2020 6 Januari/January 2021 1,023,548
Bank Indonesia FR0081 1,000,000 4.03% 6.50% 30 December/December 2020 13 Januari/January 2021 1,004,949
Bank Indonesia PBS 151025 750,000 4.03% 6.13% 29 December/December 2020 12 Januari/January 2021 731,190
Bank Indonesia FR0081 500,000 4.03% 6.50% 29 December/December 2020 12 Januari/January 2021 501,960
Bank Indonesia FR0087 400,000 4.03% 6.50% 29 December/December 2020 12 Januari/January 2021 407,561
PT Bank Maybank Indonesia, Tbk FR0082 300,000 3.80% 7.00% 11 December/December 2020 14 Januari/January 2021 286,276
PT Bank Maybank Indonesia, Tbk FR0082 200,000 3.90% 6.13% 24 November/November 2020 8 Januari/January 2021 179,937
PT Bank Maybank Indonesia, Tbk FR0087 150,000 3.80% 6.50% 7 December/December 2020 8 Januari/January 2021 139,026
Jumlah/Total 8,650,000 8,656,643
2019
Jenis Tanggal
Bank Indonesia PBS014 1,280,000 5.33% 6.50% 31 Desember/December 2019 28 Januari/January 2020 1,215,980
Bank Indonesia FR0040 750,000 5.33% 11.00% 31 Desember/December 2019 28 Januari/January 2020 879,994
Bank Indonesia PBS 150320 390,000 5.33% 6.25% 31 Desember/December 2019 28 Januari/January 2020 372,852
Bank Indonesia PBS002 250,000 5.33% 5.45% 31 Desember/December 2019 28 Januari/January 2020 236,097
Bank Indonesia SR010 200,000 5.33% 5.90% 31 Desember/December 2019 28 Januari/January 2020 187,566
Bank Indonesia ORI014 150,000 5.33% 5.85% 31 Desember/December 2019 28 Januari/January 2020 142,948
Bank Indonesia PBS 003 120,000 5.33% 6.00% 31 Desember/December 2019 28 Januari/January 2020 105,018
Jumlah/Total 10,450,000 10,470,737

KEMBALI (lanjutan) AGREEMENTS (continued)
b. Efek-efek yang dijual dengan janji dibeli kembali b. Securities sold under repurchase agreements
2018
Jenis Tanggal
Bank Indonesia PBS013 1,500,000 6.25% 6.99% 12 Desember/December 2018 9 Januari/January 2019 1,403,328
Bank Indonesia FR0069 1,000,000 7.88% 6.99% 12 Desember/December 2018 9 Januari/January 2019 966,238
PT Bank Central Asia Tbk FR0070 250,000 8.38% 7.50% 11 Desember/December 2018 11 Januari/January 2019 226,392
Jumlah/Total 12,450,000 11,940,900
Pada tanggal 31 Desember 2020, 2019, dan 2018, tidak As at 31 December 2020, 2019, and 2018, there were
terdapat saldo efek yang dijual dengan janji dibeli no balance of security sold under repurchase
kembali dengan pihak berelasi. agreement with related party.

11. TAGIHAN DAN LIABILITAS DERIVATIF 11. DERIVATIVE RECEIVABLES AND PAYABLES
a. Berdasarkan jenis a. By type
2020
Nilai wajar/Fair values
Jumlah nosional/ Tagihan derivatif/ Liabilitas derivatif/
Instrumen Notional amount Derivative receivables Derivative payables Instruments
Tidak terkait Lindung Nilai Non-hedging related
Kontrak tunai mata uang asing 5,354,721 167,486 1,789 Foreign currency spots
Kontrak berjangka mata uang

asing 13,157,507 61,671 58,909 Foreign currency forwards
Swap mata uang asing 18,299,914 56,148 89,488 Foreign currency swaps
Swap tingkat suku bunga 30,069,943 822,297 114,226 Interest rate swaps
Kontrak opsi mata uang asing 17,806,622 251,546 309,898 Foreign currency options
Kontrak berjangka tingkat suku bunga 19,670,000 138 25,213 Interest rate future
Instrumen lindung nilai terkait Hedging instrument in fair value

lindung nilai atas nilai wajar hedges related
Swap tingkat suku bunga 2,377,995 - 138,828 Interest rate swaps
1,359,286 738,351
penurunan nilai - impairment losses
1,359,286
2019
Kontrak tunai mata uang asing 1,388,079 874 498 Foreign currency spots

Kontrak berjangka tingkat suku bunga 5,900,063 7,054 833 Interest rate future
Instrumen lindung nilai terkait Hedging instrument in fair value

lindung nilai atas nilai wajar hedges related
725,478 474,915
725,478
11. TAGIHAN DAN LIABILITAS DERIVATIF (lanjutan) 11. DERIVATIVE RECEIVABLES AND PAYABLES
(continued)
2018

Kontrak tunai mata uang asing 1,441,720 3,436 3,228 Foreign currency spots

Instrumen lindung nilai terkait Hedging instrument in cash flow

lindung nilai atas arus kas hedges related
1,084,759 684,269
1,084,759
b. Berdasarkan kolektibilitas b. By collectability

Pada tanggal 31 Desember 2020, 2019, dan 2018, As at 31 December 2020, 2019 and 2018, all derivative
seluruh tagihan derivatif digolongkan sebagai lancar. receivables were classified as pass.
c. Berdasarkan jatuh tempo c. By maturity date
Informasi mengenai jatuh tempo diungkapkan pada Information in respect to maturities is disclosed in

(continued)
d. Lindung nilai wajar dengan kontrak swap tingkat d. Fair value hedge using interest rate swap (IRS)
suku bunga (IRS) contracts
i) Obligasi Pemerintah i) Government Bonds
2020, 2019 dan/and 2018
Suku bunga
Pihak Tanggal Obligasi yang Suku bunga
ketiga/ Pemerintah/ dibayarkan/ yang diterima/
Tanggal/ Third Government Nosional/ Paid of interest Received of Jatuh tempo/
Date party Tujuan/Purpose Bond date Notional rate interest rate Maturity date
7 Mei/ Standard Lindung nilai atas 23 Februari/USD Suku bunga tetap Suku bunga 1 Maret/
May 2018 Chartered risiko suku bunga February 2018
50,000,000 sebesar 3,08% mengambang March 2023
pada sebagian per tahun/Fixed sebesar suku
eksposur Obligasi interest rate of bunga LIBOR
Pemerintah/To 3.08% perannum 6 (enam)
hedge bulan/
interest rate risk on Floating
certain portion of interest
Government Bonds rate of 6 (six)
months
LIBOR.
8 Mei/ Standard Lindung nilai atas 23 Februari/ USD Suku bunga tetap Suku bunga 1 Maret/
May 2018 Chartered risiko suku bunga February 2018 25,000,000 sebesar 3,08% mengambang March 2023
padasebagian per tahun/ Fixed sebesar suku
eksposur Obligasi interest rate of bunga LIBOR
Pemerintah/To 3.08% per 6 (enam)
hedge interest rate annum. bulan/
risk on certain Floating
portion of interest
Government Bonds rate of 6 (six)
months
LIBOR.
24 Mei/ Standard Lindung nilai atas 14 Agustus/ USD Suku bunga tetap Suku bunga 29 Maret/
May 2018 Chartered risiko suku bunga August 2017, 11,700,000 sebesar 2,94% mengambang March 2022
pada sebagian 16 Agustus/ per tahun/Fixed sebesar suku
eksposur Obligasi August 2017, interest rate of bunga LIBOR
Pemerintah/To 6 Oktober/ 2.94% per 3 (tiga) bulan/
hedge interest rate October 2017, annum. Floating interest
risk on certain portion 8 November/ rate of 3 (three)
of Government November 2017 months LIBOR.
Bonds 12 Januari/
January 2018,
17 Januari/
January 2018,
22 Januari/
January 2018,
23 Januari/
January 2018,
30 Januari/
January 2018

(continued)
suku bunga (IRS) (lanjutan) contracts (continued)
i) Obligasi Pemerintah (lanjutan) i) Government Bonds (continued)
2020, 2019 dan/and 2018
Tanggal Obligasi Suku bunga yang Suku bunga

Pihak Pemerintah/ dibayarkan/ yang diterima/
Tanggal/ ketiga/ Government Nosional/ Paid of interest Received of Jatuh tempo/
Date Third party Tujuan/Purpose Bond date Notional rate interest rate Maturity date
24 Mei/ Standard Lindung nilai atas 10 Januari/ USD Suku bunga tetap Suku bunga 21 November/
May 2018 Chartered risiko suku bunga January 2018 15,200,000 sebesar 2,98% mengambang November 2022
pada sebagian 23 Januari/ per tahun/Fixed sebesar suku
eksposur Obligasi January 2018 interest rate of bunga LIBOR
Pemerintah/To 2.98% per annum. 3 (tiga) bulan/
hedge interest rate Floating interest
risk on certain rate of 3 (three)
portion of months LIBOR.
Government Bonds
5 Juli/ Standard Lindung nilai atas 8 November/ USD Suku bunga tetap Suku bunga 10 Januari/
July 2018 Chartered risiko suku bunga November 2017, 8,000,000 sebesar 2,90% mengambang January 2022
pada eksposur 11 Januari/ per tahun/Fixed sebesar suku
Obligasi Pemerintah/ January 2018, interest rate of bunga LIBOR
To hedge interest 7 Maret/ 2.90% per annum. 3 (tiga) bulan/
rate risk on portion March 2017, Floating interest
ofGovernment Bonds rate of 3 (three)
months LIBOR.
ii) Obligasi korporasi ii) Corporate bonds
2020, 2019 dan/and 2018

Tanggal Obligasi Suku bunga yang Suku bunga Jatuh
Pihak Pemerintah/ dibayarkan/ yang diterima/ tempo/
Tanggal/ ketiga/ Government Nosional/ Paid of interest Received of Maturity
Date Third party Tujuan/Purpose Bond date Notional rate interest rate date
14 Agustus/ Standard Lindung nilai atas 9 Juni/ USD Suku bunga tetap Suku bunga 20 Mei/
August 2018 Chartered risiko suku bunga June 2017, 5,000,000 sebesar 2,95% mengambang May 2023
pada eksposur 18 Juli/ per tahun/Fixed sebesar suku
Obligasi Korporasi/To July 2017 interest rate of bunga LIBOR
hedge interest rate 2.95% per annum. 3 (tiga) bulan/
risk on portion of Floating interest
Corporate Bonds rate of 3 (three)
months LIBOR.
14 Agustus/ Standard Lindung nilai atas 9 Juni/ USD Suku bunga tetap Suku bunga 3 Mei/
August 2018 Chartered risiko suku bunga June 2017 3,000,000 sebesar 2,94% mengambang May 2022
pada eksposur per tahun/Fixed sebesar suku
Obligasi Korporasi/To interest rate of bunga LIBOR
hedge interest rate 2.94% per annum. 3 (tiga) bulan/
risk on portion of Floating interest
Corporate Bonds rate of 3 (three)
months LIBOR.

11. TAGIHAN DAN LIABILITAS DERIVATIF (lanjutan) 11. DERIVATIVE RECEIVABLES AND PAYABLES (continued)
ii) Obligasi korporasi (lanjutan) ii) Corporate bonds (continued)
2020, 2019 dan/and 2018

Tanggal
Obligasi Suku bunga
Pihak Korporasi/ Suku bunga yang yang diterima/
Tanggal/ ketiga/ Corporate Nosional/ dibayarkan/ Received of Jatuh tempo/
Date Third party Tujuan/Purpose Bond date Notional Paid of interest rate interest rate Maturity date
5 Desember/ Hongkong Lindung nilai atas 15 Mei/ IDR Suku bunga tetap Suku bunga 7 Desember/
December 2018 and risiko suku bunga May 2017, 421,500 sebesar 8,45% per mengambang December
Shanghai pada eksposur 16 Mei/ tahun/ Fixed interest sebesar suku 2021
Banking Obligasi Korporasi/ May 2017, rate of 8.45% per bunga JIBOR
Corporation To hedge interest 23 Mei/ annum 3 (tiga) bulan/
rate risk on portion May 2017, Floating interest
of Corporate 29 Mei/ rate of 3 (three)
Bonds May 2017, months JIBOR
13 Juli/
July 2017,
1 November/
November
2017,
17 November/
November
2017,
20 November/
November
2017,
12 Desember/
December
2017,
13 Desember/
December
2017,
15 Desember/
December
2017,
9 Agustus/
August 2018
15 April/ Hongkong Lindung nilai atas 12 April/ IDR Suku bunga tetap Suku bunga 18 April/
April 2019 and risiko suku bunga April 2019 100,000 sebesar 7,5% per mengambang April 2022
Shanghai pada eksposur tahun/Fixed interest sebesar suku
Banking Obligasi rate of 7.5% per bunga LIBOR
Corporation Korporasi/To annum. 3 (tiga) bulan/
hedge interest rate Floating interest
risk on portion of rate of 3 (three)
Corporate Bonds months LIBOR.

ii) Obligasi korporasi (lanjutan) ii) Corporate bonds (continued)
2020, 2019 dan/and 2018

Tanggal
Obligasi Suku bunga
Pihak Korporasi/ Suku bunga yang yang diterima/
Tanggal/ ketiga/ Corporate Nosional/ dibayarkan/ Received of Jatuh tempo/
Date Third party Tujuan/Purpose bond date Notional Paid of interest rate interest rate Maturity date
23 April/ Hongkong Lindung nilai atas 18 April/ IDR Suku bunga tetap Suku bunga 25 April/
April 2019 and risiko suku bunga April 2019 200,000 sebesar 7,55% per mengambang April 2022
Shanghai pada eksposur tahun/Fixed interest sebesar suku
Banking Obligasi Korporasi/ rate of 7.55% per bunga JIBOR
Corporation To hedge interest annum 3 (tiga) bulan/
rate risk on portion Floating interest
of Corporate rate of 3 (three)
Bonds months JIBOR
iii) Obligasi subordinasi iii) Subordinated bonds
Pada tanggal 31 Desember 2020, 2019, dan 2018 As at 31 December 2020, 2019, and 2018, there
tidak terdapat lindung nilai wajar dengan kontrak was no fair value hedge using interest rate swap
swap tingkat suku bunga (IRS) untuk obligasi (IRS) contracts for subordinated bonds.
subordinasi.
iv) Obligasi yang diterbitkan iv) Bond issued

Pada tanggal 31 Desember 2020, 2019, dan 2018 As at 31 December 2020, 2019, and 2018, there
tidak terdapat lindung nilai wajar dengan kontrak was no fair value hedge using interest rate swap
swap tingkat suku bunga (IRS) untuk obligasi yang (IRS) contracts for issued bonds.
diterbitkan.
Perubahan nilai wajar dari kontrak IRS sebagai instrumen The changes in fair values of IRS contracts as the hedging
lindung nilai obligasi pemerintah dan obligasi korporasi, instruments the government bonds and the corporate
sebagai item yang dilindung nilai akibat dari penerapan bonds, as the hedge items, as a result of hedge
lindung nilai dibebankan sebagai laba/rugi. Perubahan nilai accounting implementation, are charged/ credited as
wajar instrumen lindung nilai dan item yang dilindung nilai profit/ loss. The changes in fair values of hedge
akan saling off-set dan selisihnya merupakan bagian yang instruments and hedged items are off-set and the amounts
tidak efektif dan dicatat sebagai keuntungan/kerugian dari representing the ineffective portion are recorded as
perubahan nilai wajar derivatif pada laba/rugi (lihat gains/losses from changes in fair values of derivative as
Catatan 40). profit/loss (refer to Note 40).
Sejak diterapkannya akuntansi lindung nilai wajar tersebut, Starting from the implementation of fair value hedge
manajemen telah memiliki dokumentasi mengenai accounting, management has been able to document the
hubungan antara instrumen lindung nilai dan item yang relationship between hedging instruments and hedged
dilindung nilai dan juga tujuan manajemen risikonya serta items, as well as its risk management objective and
strategi dalam melakukan berbagai transaksi lindung nilai. strategy for undertaking various hedge transactions.

Dokumentasi juga meliputi penilaian pemenuhan The documentation also consists of hedge fullfilness
kriteria akuntansi lindung nilai dari derivatif yang criteria accounting of derivatives, as the hedge
digunakan sebagai instrumen lindung nilai dan item instruments, against the hedged items. The assessment
yang dilindung nilai. Penilaian ini dilakukan baik pada is tested at inception of the hedge and through out the
permulaan lindung nilai tersebut diterapkan dan pada period of the hedge.
saat-saat berikutnya secara berkelanjutan.
Liabilitas derivatif pada pihak berelasi diungkapkan Derivative payables transactions with related parties are
dalam Catatan 49. disclosed in Note 49.
12. KREDIT YANG DIBERIKAN 12. LOANS
Kredit yang diberikan kepada pihak berelasi diungkapkan Loans to related parties are disclosed in Note 49.
dalam Catatan 49. Informasi mengenai tingkat suku bunga Information in respect of interest rates and maturities are
dan jatuh tempo diungkapkan dalam Catatan 54 dan 56. disclosed in Notes 54 and 56.
a. Berdasarkan jenis, mata uang, dan kualitas kredit a. By type, currency, and loan quality
Kualitas kredit yang diberikan berdasarkan jenis Loans quality by type with staging approach for
dengan pendekatan tahapan untuk konvensional dan conventional and impaired and unimpaired loans, and
kredit yang mengalami penurunan nilai dan tidak collectively and individually assessed for sharia:
mengalami penurunan nilai serta penilaian secara
kolektif dan individual untuk syariah:
2020
Tahap/ Tahap/ Tahap/ Jumlah/

Stage 1 Stage 2 Stage 3 Total
Pihak Berelasi Related parties
Rupiah Rupiah
Konsumsi 221,400 - - 221,400 Consumer
Sub jumlah 221,400 - - 221,400 Sub total
Pihak Ketiga Third parties
Rupiah Rupiah
Konsumsi 32,660,183 1,614,403 828,732 35,103,318 Consumer
Modal Kerja 53,220,770 3,135,531 4,074,750 60,431,051 Working capital
Investasi 20,297,926 1,427,114 2,352,818 24,077,858 Investment
Sub jumlah 106,178,879 6,177,048 7,256,300 119,612,227 Sub total
Konsumsi 6,906 - - 6,906 Consumer
Modal Kerja 11,933,939 3,138,684 634,536 15,707,159 Working capital
Investasi 1,899,450 105,694 2,071,835 4,076,979 Investment

Modal Kerja 109,512 - - 109,512 Working capital
Investasi 3,216 590 102 3,908 Investment
Sub jumlah 112,728 590 102 113,420 Sub total
Jumlah pihak ketiga 120,131,902 9,422,016 9,962,773 139,516,691 Third parties total
Jumlah 120,353,302 9,422,016 9,962,773 139,738,091 Total

penurunan nilai (2,342,841) (3,545,600) (5,484,798) (11,373,239) impairment losses
Jumlah - bersih 118,010,461 5,876,416 4,477,975 128,364,852 Total - net

12. KREDIT YANG DIBERIKAN (lanjutan) 12. LOANS (continued)
a. Berdasarkan jenis, mata uang, dan kualitas kredit a. By type, currency, and loan quality (continued)
(lanjutan)
mengalami penurunan nilai serta penilaian secara (continued)
kolektif dan individual untuk syariah: (lanjutan)
2020
Tidak mengalami Mengalami
penurunan nilai penurunan nilai
dan penilaian dan penilaian
secara kolektif secara kolektif
dan individual/ dan individual/
Unimpaired Impaired
and collectively collectively and
and individually individually Jumlah/
assessed assessed Total
Syariah Sharia
Rupiah Rupiah
Konsumsi 15,594,278 270,765 15,865,043 Consumer
Modal Kerja 3,431,422 3,374 3,434,796 Working capital
Investasi 11,232,680 254,916 11,487,596 Investment
Sub jumlah 30,258,380 529,055 30,787,435 Sub total

Modal Kerja 231,978 - 231,978 Working capital
Investasi 912,887 - 912,887 Investment
Sub jumlah 1,144,865 - 1,144,865 Sub total
Jumlah 31,403,245 529,055 31,932,300 Total

Jumlah - bersih 31,149,791 337,141 31,486,932 Total - net
Total kredit yang diberikan 171,670,391 Total Loan

penurunan nilai - konvensional dan syariah (11,818,607) impairment losses - conventional and sharia
Total kredit yang diberikan- bersih 159,851,784 Total Loan- net

(lanjutan)
2019
Unimpaired Impaired and
Rupiah Rupiah
Konsumsi 232,557 - 232,557 Consumer
Sub jumlah 232,557 - 232,557 Sub total

Rupiah Rupiah
Konsumsi 49,268,199 1,131,925 50,400,124 Consumer
Modal Kerja 72,772,818 3,149,065 75,921,883 Working capital
Investasi 40,794,495 1,678,927 42,473,422 Investment
Sub jumlah 162,835,512 5,959,917 168,795,429 Sub total

Modal Kerja 16,558,969 595,106 17,154,075 Working capital

Jumlah pihak ketiga 183,379,827 7,370,734 190,750,561 Third parties total
Jumlah 183,612,384 7,370,734 190,983,118 Total

Jumlah - bersih 181,320,035 3,678,105 184,998,140 Total - net

(lanjutan)
2018
Rupiah Rupiah

Rupiah Rupiah


Jumlah pihak ketiga 178,394,871 7,571,280 185,966,151 Third parties total

Jumlah 178,691,351 7,571,280 186,262,631 Total

(lanjutan)
Kualitas kredit yang diberikan untuk kredit yang Loans quality based impaired loan collectively and
mengalami penurunan nilai berdasarkan kolektif dan individually assessed as at 31 December 2020, 2019,
individual pada tanggal 31 Desember 2020, 2019, dan and 2018 were as follows:
2018 adalah:
2020
Kolektif/ Individual/ Jumlah/
Collective Individual Total
Modal Kerja 532,914 4,179,746 4,712,660 Working capital
Investasi 144,814 4,534,857 4,679,671 Investment
Jumlah 1,684,057 8,807,771 10,491,828 Total
penurunan nilai (574,448) (5,102,264) (5,676,712) impairment losses
2019
Jumlah 1,553,727 5,817,007 7,370,734 Total
Jumlah - bersih 967,002 2,711,103 3,678,105 Total - net
2018
Jumlah 1,530,938 6,040,342 7,571,280 Total
Jumlah - bersih 957,196 2,589,570 3,546,766 Total - net

(lanjutan)
Kualitas kredit yang diberikan berdasarkan Loans quality based on collectibility according to OJK
kolektibilitas sesuai ketentuan OJK: regulation:
2020
Dalam
Perhatian Kurang
Khusus/ Lancar/
Lancar/ Special Sub- Diragukan/ Macet/ Jumlah/
Pass Mention Standard Doubtful Loss Total

Rupiah Rupiah
Konsumsi 221,400 - - - - 221,400 Consumer
Sub jumlah 221,400 - - - - 221,400 Sub Total
Rupiah Rupiah
Konsumsi 46,008,928 4,017,942 247,414 123,840 570,237 50,968,361 Consumer
Modal Kerja 59,322,953 1,885,631 328,977 100,913 2,227,373 63,865,847 Working capital
Investasi 33,779,153 1,326,114 37,881 32,275 390,031 35,565,454 Investment
Sub jumlah 139,111,034 7,229,687 614,272 257,028 3,187,641 150,399,662 Sub Total

Modal Kerja 12,587,510 3,247,936 - - 103,691 15,939,137 Working capital
Investasi 2,920,161 63,834 - - 2,005,871 4,989,866 Investment
Sub jumlah 15,514,577 3,311,770 - - 2,109,562 20,935,909 Sub Total

Modal Kerja 109,512 - - - - 109,512 Working capital
Investasi 3,908 - - - - 3,908 Investment
Jumlah 154,960,431 10,541,457 614,272 257,028 5,297,203 171,670,391 Total

penurunan nilai (11,818,607) impairment losses
Jumlah - bersih 159,851,784 Total - net

(lanjutan)
Kualitas kredit yang diberikan berdasarkan Loans quality based on collectibility according to OJK
kolektibilitas sesuai ketentuan OJK: (lanjutan) regulation: (continued)
2019
Dalam
Perhatian Kurang
Khusus/ Lancar/

Rupiah Rupiah
Rupiah Rupiah

Konsumsi 24,941 2,084 - - - 27,025 Consumer
Modal Kerja 13,789,578 3,058,861 - 137,743 167,893 17,154,075 Working capital
Investasi 3,736,370 163,124 - - 746,183 4,645,677 Investment
Sub jumlah 17,550,889 3,224,069 - 137,743 914,076 21,826,777 Sub Total

Modal Kerja 107,088 11,324 - - - 118,412 Working capital
Sub jumlah 117,031 11,324 - - - 128,355 Sub Total
Jumlah 176,637,115 9,032,834 277,713 821,191 4,214,265 190,983,118 Total

2018
Dalam
Perhatian Kurang
Khusus/ Lancar/

Rupiah Rupiah
Rupiah Rupiah

Modal Kerja 17,768,934 436,628 - - 861,522 19,067,084 Working capital
Investasi 4,651,625 843,905 - - 52,703 5,548,233 Investment
Sub jumlah 22,458,324 1,280,533 - - 914,225 24,653,082 Sub Total

Modal Kerja 143,303 - - - - 143,303 Working capital
Jumlah 173,801,614 6,752,652 781,704 473,636 4,453,025 186,262,631 Total


(lanjutan)
Termasuk dalam kredit yang diberikan dalam Rupiah Included in loans denominated in Rupiah and United
dan Dolar Amerika Serikat pada tanggal 31 Desember States Dollar as at 31 December 2020 are sharia
2020 adalah piutang dan pembiayaan syariah sebesar receivables and financing amounted to Rp 31,932,300
Rp 31.932.300 (2019: Rp 33.098.379; 2018: (2019: Rp 33,098,379; 2018: Rp 26,510,903).
Rp 26.510.903).
b. Berdasarkan sektor ekonomi b. By economic sector
Kualitas kredit yang diberikan berdasarkan sektor Loans quality by economic sector with staging
ekonomi dengan pendekatan tahapan untuk approach for conventional and impaired and
konvensional dan kredit yang mengalami penurunan unimpaired loans and collectively and individually
nilai dan tidak mengalami penurunan nilai serta assessed for sharia:
penilaian secara kolektif dan individual untuk syariah:
31 Desember/December 2020
Rupiah Rupiah
Perindustrian 19,389,874 1,642,665 1,752,030 22,784,569 Manufacturing
Perdagangan, restoran, Trading, restaurants,
hotel, dan administrasi 21,339,976 1,578,963 1,869,970 24,788,909 hotels, and administration
Pertanian 5,865,707 33,240 330,191 6,229,138 Agriculture
Jasa usaha 12,080,022 706,019 1,147,795 13,933,836 Business services
Konstruksi 6,413,924 268,880 241,818 6,924,622 Construction
Pengangkutan, pergudangan, Transportation, warehousing,
dan komunikasi 5,164,286 180,430 40,374 5,385,090 and communication
Jasa pelayanan sosial 2,857,113 106,807 1,072,545 4,036,465 Social services
Pertambangan 466,671 45,641 - 512,312 Mining
Listrik, gas dan air 123,544 - - 123,544 Electricity, gas and water
Perumahan 18,454,587 975,197 434,385 19,864,169 Housing
Konsumsi 14,244,575 639,206 367,192 15,250,973 Consumer

Perindustrian 4,382,204 142,262 1,062,459 5,586,925 Manufacturing
hotel, dan administrasi 781,832 2,976,125 1,502,808 5,260,765 hotels, and administration
Pertanian 5,904,301 30,644 - 5,934,945 Agriculture
Jasa usaha 759,286 - - 759,286 Business services
Konstruksi 18,242 - - 18,242 Construction
dan komunikasi 711,140 95,937 - 807,077 and communication
Jasa pelayanan sosial 13,729 - - 13,729 Social services
Pertambangan 1,254,859 - 141,206 1,396,065 Mining
Listrik, gas dan air 120,524 - - 120,524 Electricity, gas and water
Perumahan 6,906 - - 6,906 Housing
Jumlah 120,353,302 9,422,016 9,962,773 139,738,091 Total
penurunan nilai (2,342,841) (3,545,600) (5,484,798) (11,373,239) impairment losses
Jumlah - bersih 118,010,461 5,876,416 4,477,975 128,364,852 Total - net

b. Berdasarkan sektor ekonomi (lanjutan) b. By economic sector (continued)
nilai dan tidak mengalami penurunan nilai serta assessed for sharia: (continued)
(lanjutan)
2020
Syariah Sharia
Rupiah Rupiah
Perindustrian 2,555,809 6,905 2,562,714 Manufacturing
hotel, dan administrasi 2,468,990 214,438 2,683,428 hotels, and administration
Pertanian 1,624,702 1,491 1,626,193 Agriculture
Jasa usaha 2,276,940 35,457 2,312,397 Business services
Konstruksi 2,911,097 - 2,911,097 Construction
dan komunikasi 254,287 - 254,287 and communication
Jasa pelayanan sosial 69,236 - 69,236 Social services
Listrik, gas dan air 2,502,043 - 2,502,043 Electricity, gas and water
Perumahan 12,945,169 214,144 13,159,313 Housing
Sub jumlah 30,258,380 529,055 30,787,435 Sub total

Perindustrian 486,643 - 486,643 Manufacturing
hotel, dan administrasi 332,753 - 332,753 hotels, and administration
Pertanian 72,042 - 72,042 Agriculture
dan komunikasi 23,594 - 23,594 and communication
Pertambangan 3,628 - 3,628 Mining
Listrik, gas dan air 226,205 - 226,205 Electricity, gas and water
Sub jumlah 1,144,865 - 1,144,865 Sub total
Jumlah 31,403,245 529,055 31,932,300 Total
Jumlah - bersih 31,149,791 337,141 31,486,932 Total - net
Total kredit yang diberikan 171,670,391 Total Loan

penurunan nilai - konventional dan syariah (11,818,607) impairment losses - conventional and sharia
Total kredit yang diberikan- bersih 159,851,784 Total Loan- net

(lanjutan)
2019
Rupiah Rupiah
Perindustrian 30,021,858 1,240,507 31,262,365 Manufacturing
hotel, dan administrasi 28,889,695 1,430,685 30,320,380 hotels, and administration
Konstruksi 9,464,427 195,674 9,660,101 Construction
dan komunikasi 4,676,907 56,113 4,733,020 and communication
Jasa pelayanan sosial 2,665,740 968,155 3,633,895 Social services
Pertambangan 1,139,283 - 1,139,283 Mining
Listrik, gas dan air 6,410,734 34,651 6,445,385 Electricity, gas and water

Jasa usaha 1,072,067 - 1,072,067 Business services
Konstruksi 18,300 - 18,300 Construction
dan komunikasi 1,295,626 - 1,295,626 and communication
Pertambangan 693,958 152,709 846,667 Mining
Perumahan 26,182 - 26,182 Housing
Konsumsi 841 - 841 Consumer
Jumlah 183,612,384 7,370,734 190,983,118 Total

(lanjutan)
2018
Rupiah Rupiah
Perindustrian 28,941,202 721,154 29,662,356 Manufacturing
hotel, dan administrasi 29,242,046 2,141,378 31,383,424 hotels, and administration
Konstruksi 6,618,137 231,228 6,849,365 Construction
dan komunikasi 3,376,436 108,093 3,484,529 and communication
Jasa pelayanan sosial 4,964,526 50,320 5,014,846 Social services
Pertambangan 702,303 - 702,303 Mining
Listrik, gas dan air 5,956,769 111,005 6,067,774 Electricity, gas and water

Jasa usaha 1,854,218 - 1,854,218 Business services
Konstruksi 25,775 - 25,775 Construction
dan komunikasi 1,475,961 - 1,475,961 and communication
Pertambangan 494,980 520,453 1,015,433 Mining
Perumahan 22,476 - 22,476 Housing
Jumlah 178,691,351 7,571,280 186,262,631 Total

Rasio kredit yang mengalami penurunan nilai bruto Gross and net impaired loan ratios as at 31 December
dan neto pada tanggal 31 Desember 2020 masing- 2020 are 6.11% and 2.80%, respectively (2019: 3.86%
masing adalah sebesar 6,11% dan 2,80% (2019: and 1.93%; 2018: 4.06% and 1.90%). Gross impaired
3,86% dan 1,93%; 2018: 4,06% dan 1,90%). Rasio loan ratio is calculated by dividing total impaired loans
kredit yang mengalami penurunan nilai bruto dihitung with total loans. Net impaired loan ratio is calculated
dengan membagi jumlah kredit yang diberikan yang by deducting impaired loans with allowance for
mengalami penurunan nilai dengan jumlah kredit yang impairment losses and dividing with total loans.
diberikan. Rasio kredit yang mengalami penurunan
nilai neto dihitung dengan mengurangi jumlah kredit
yang diberikan yang mengalami penurunan nilai
dengan cadangan kerugian penurunan nilai dan dibagi
dengan jumlah kredit yang diberikan.
Kualitas kredit yang diberikan berdasarkan sektor Loans quality based on economic sector and
ekonomi dan kolektibilitas sesuai ketentuan OJK: collectibility according to OJK regulation:
2020
Dalam
Perhatian Kurang
Khusus/ Lancar/
Rupiah Rupiah
Perindustrian 23,854,117 607,543 18,538 8,002 859,083 25,347,283 Manufacturing
hotel, dan administrasi 25,289,847 803,252 236,694 59,556 1,082,988 27,472,337 hotels, and administration
Pertanian 7,523,632 60,180 - 20,486 251,032 7,855,330 Agriculture
Jasa usaha 15,644,117 429,903 5,445 21,500 145,267 16,246,232 Business services
Konstruksi 9,420,176 194,151 95,377 13,616 112,399 9,835,719 Construction
dan komunikasi 5,577,607 21,395 1 - 40,374 5,639,377 and communication
Jasa pelayanan sosial 2,892,269 1,066,370 10,804 10,027 126,231 4,105,701 Social services
Pertambangan 483,361 28,951 - - - 512,312 Mining
Listrik, gas, dan air 2,625,587 - - - - 2,625,587 Electricity, gas, and water
Perumahan 29,842,430 2,494,472 150,062 32,835 503,683 33,023,482 Housing

Perindustrian 5,147,529 97,536 - - 828,504 6,073,569 Manufacturing
hotel, dan administrasi 1,115,299 3,210,890 - - 1,267,329 5,593,518 hotels, and administration
Pertanian 6,006,987 - - - - 6,006,987 Agriculture
Jasa usaha 755,942 3,344 - - - 759,286 Business services
Konstruksi 18,242 - - - - 18,242 Construction
dan komunikasi 830,671 - - - - 830,671 and communication
Jasa pelayanan sosial - - - - 13,729 13,729 Social services
Pertambangan 1,399,693 - - - - 1,399,693 Mining
Listrik, gas, dan air 346,728 - - - - 346,728 Electricity, gas, and water
Perumahan 6,906 - - - - 6,906 Housing
Sub jumlah 15,627,997 3,311,770 - - 2,109,562 21,049,329 Sub Total
Jumlah 154,960,431 10,541,457 614,272 257,028 5,297,203 171,670,391 Total

ekonomi dan kolektibilitas sesuai ketentuan OJK: collectability according to OJK regulation: (continued)
(lanjutan)
2019
Dalam
Perhatian Kurang
Khusus/ Lancar/
Rupiah Rupiah
Perindustrian 29,682,035 519,414 12,828 25,714 1,019,714 31,259,705 Manufacturing
hotel, dan administrasi 28,195,352 941,870 42,243 308,982 857,854 30,346,301 hotels, and administration
Pertanian 10,266,696 81,261 10,368 79,723 390,070 10,828,118 Agriculture
Konstruksi 9,462,473 29,532 10,042 29,337 128,717 9,660,101 Construction
dan komunikasi 4,633,417 47,280 1,920 2,660 47,743 4,733,020 and communication
Jasa pelayanan sosial 2,431,057 1,165,407 10,307 12,738 14,386 3,633,895 Social services
Pertambangan 1,139,283 - - - - 1,139,283 Mining
Listrik, gas, dan air 6,410,734 - - - 34,651 6,445,385 Electricity, gas, and water
Konsumsi 17,652,207 896,016 100,753 141,394 73,012 18,863,382 Consumer

Perindustrian 6,527,899 157,786 - 47,874 910,859 7,644,418 Manufacturing
hotel, dan administrasi 3,079,239 3,050,507 - 89,869 - 6,219,615 hotels, and administration
Pertanian 4,431,462 13,694 - - - 4,445,156 Agriculture
Jasa usaha 1,060,743 11,324 - - - 1,072,067 Business services
dan komunikasi 1,295,626 - - - - 1,295,626 and communication
Jasa pelayanan sosial 211 - - - 3,217 3,428 Social services
Pertambangan 846,667 - - - - 846,667 Mining
Perumahan 24,100 2,082 - - - 26,182 Housing
Konsumsi 841 - - - - 841 Consumer
Sub jumlah 17,667,920 3,235,393 - 137,743 914,076 21,955,132 Sub Total
Jumlah 176,637,115 9,032,834 277,713 821,191 4,214,265 190,983,118 Total

ekonomi dan kolektibilitas sesuai ketentuan OJK: collectability according to OJK regulation: (continued)
(lanjutan)
2018
Dalam
Perhatian Kurang
Khusus/ Lancar/
Rupiah Rupiah
Perindustrian 28,726,342 317,858 189,256 53,797 375,103 29,662,356 Manufacturing
hotel, dan administrasi 28,741,953 787,594 154,990 40,945 1,657,942 31,383,424 hotels, and administration
Pertanian 11,776,219 321,965 16,905 23,970 195,028 12,334,087 Agriculture
Konstruksi 6,604,617 75,916 - 33,455 135,377 6,849,365 Construction
dan komunikasi 3,318,477 70,247 550 - 95,255 3,484,529 and communication
Jasa pelayanan sosial 4,319,303 644,037 16,700 21,247 13,559 5,014,846 Social services
Pertambangan 702,303 - - - - 702,303 Mining
Listrik, gas, dan air 5,956,769 - - - 111,005 6,067,774 Electricity, gas, and water

Perindustrian 7,326,846 1,042,406 - - 433,718 8,802,970 Manufacturing
hotel, dan administrasi 6,710,652 51,347 - - 129,282 6,891,281 hotels, and administration
Pertanian 4,203,298 14,220 - - - 4,217,518 Agriculture
Jasa usaha 1,854,218 - - - - 1,854,218 Business services
dan komunikasi 1,475,961 - - - - 1,475,961 and communication
Jasa pelayanan sosial 2,391 - - - 3,332 5,723 Social services
Pertambangan 494,980 172,560 - - 347,893 1,015,433 Mining
Perumahan 22,476 - - - - 22,476 Housing
Sub jumlah 22,627,635 1,280,533 - - 914,225 24,822,393 Sub Total
Jumlah 173,801,614 6,752,652 781,704 473,636 4,453,025 186,262,631 Total


Rasio kredit bermasalah (NPL) dihitung sesuai dengan Non-performing loans (NPL) is determined based on
pedoman perhitungan rasio keuangan sebagaimana financial ratio calculation guidance as stated in
tercantum dalam Surat Edaran BI No. 3/30/DPNP Circular Letter of BI No. 3/30/DPNP dated
tanggal 14 Desember 2001 yang telah mengalami 14 December 2001 which has several changes where
beberapa perubahan sebagaimana terakhir telah the last changes are amended by Circular Letter of BI
diubah dengan Surat Edaran BI No. 13/30/DPNP No. 13/30/DPNP dated 16 December 2011. As at
tanggal 16 Desember 2011. Pada tanggal 31 December 2020, the percentage on consolidated
31 Desember 2020, rasio NPL bruto dan neto basis of gross and net NPL (included Ijarah) is 3.62%
konsolidasian (termasuk Ijarah) masing-masing adalah and 1.40%, respectively (2019: 2.79% and 1.30%;
sebesar 3,62% dan 1,40% (2019: 2,79% dan 1,30%; 2018: 3.11% and 1.55%). Gross NPL ratio is
2018: 3,11% dan 1,55%). Rasio NPL bruto dihitung calculated by dividing total loans that classified as
dengan membagi jumlah pinjaman dalam klasifikasi substandard, doubtful, and loss with total loans,
kurang lancar, diragukan, dan macet dengan jumlah excludes loans to bank. Net NPL ratio is calculated
pinjaman, tidak termasuk kredit kepada bank lain. by deducting total loans that classified as
Rasio NPL neto dihitung dengan mengurangi jumlah substandard, doubtful, and loss with allowance of
pinjaman dalam klasifikasi kurang lancar, diragukan, impairment loans and divided by total loans, excludes
dan macet dengan cadangan kerugian penurunan nilai loans to bank. NPL ratio is disclosed as consolidated
dan dibagi dengan jumlah pinjaman, tidak termasuk including the consumer financing receivables.
kredit kepada bank lain. Rasio NPL disajikan secara
konsolidasi termasuk piutang pembiayaan konsumen.
c. Berdasarkan jangka waktu perjanjian kredit c. By term of credit agreements
2020 2019 2018

Rupiah Rupiah
< 1 tahun 26,920,828 31,333,318 15,924,830 < 1 year
> 1 - < 2 tahun 23,343,397 28,951,266 12,319,839 > 1 - < 2 years
> 2 - < 5 tahun 16,572,733 21,488,732 43,735,866 > 2 - < 5 years
> 5 tahun 83,784,104 87,254,670 89,459,703 > 5 years
< 1 tahun 8,066,838 9,061,725 1,872,369 < 1 year
> 1 - < 2 tahun 2,028,513 3,849,266 3,226,899 > 1 - < 2 years
> 2 - < 5 tahun 2,431,331 2,308,808 8,179,342 > 2 - < 5 years
> 5 tahun 8,409,227 6,606,978 11,374,472 > 5 years
< 1 tahun 20,044 63,904 17,511 < 1 year
> 1 - < 2 tahun 48,797 47,471 8,022 > 1 - < 2 years
> 2 - < 5 tahun 40,670 7,144 29,792 > 2 - < 5 years
> 5 tahun 3,909 9,836 113,986 > 5 years
Sub jumlah 113,420 128,355 169,311 Sub total
Jumlah 171,670,391 190,983,118 186,262,631 Total



d. Berdasarkan jatuh tempo d. By maturity date
Informasi mengenai jatuh tempo diungkapkan pada Information in respect of maturities is disclosed in
e. Suku bunga rata-rata per tahun e. Average annual interest rates
2020 2019 2018
Rupiah 9.80% 10.60% 10.25% Rupiah

Mata uang asing 4.35% 4.46% 4.59% Foreign currencies
f. Mutasi kredit yang diberikan f. Movement of loans

Mutasi kredit yang diberikan berdasarkan tahapan The movement of loans based on staging are as
adalah: follows:
2020
Tahap/ Tahap/
Stage 3 Stage 3
Saldo awal setelah Beginning balance after
penerapan PSAK 71 141,520,946 9,172,027 1,498,255 5,693,511 157,884,739 impact of SFAS 71 implementation
Perubahan kredit berdasarkan perpindahan Changes in expected credit losses due to
antar tahapan: transfer within stages:
Pindah ke Tahap 1 2,208,539 (2,112,883) (95,656) - - Transfer to Stage 1
Pindah ke Tahap 2 (4,798,238) 4,894,303 (96,065) - - Transfer to Stage 2
Pindah ke Tahap 3 (693,485) (777,066) 1,470,551 - - Transfer to Stage 3
Total perpindahan antar tahapan (3,283,184) 2,004,354 1,278,830 - - Total transfer within stages
Penambahan kredit selama tahun berjalan 13,934,846 - - - 13,934,846 Additional loans during the year
Pindah ke Tahap 2 dan 3 (778,131) 757,221 20,910 - - Transfer to Stage 2 and 3
Penghapusbukuan kredit - - (1,072,439) (2,742,644) (3,815,083) Write-off loans
Pelunasan penuh dan sebagian atas kredit (31,209,270) (2,538,159) (486,572) 5,720,041 (28,513,960) Full and partial payment of loans
Lain-lain *) 168,095 26,573 5,109 47,772 247,549 Others *)
Saldo akhir 120,353,302 9,422,016 1,244,093 8,718,680 139,738,091 Ending balance
Syariah 31,932,300 Sharia
g. Kredit yang direstrukturisasi g. Restructured loans
Pada tanggal 31 Desember 2020, 2019, dan 2018, As at 31 December 2020, 2019, and 2018, total
jumlah kredit yang direstrukturisasi selama tahun restructured loans during the year based on the
berjalan berdasarkan kolektibilitas adalah: collectibility are as follows:
2020
Dalam
Perhatian Kurang
Khusus/ Lancar/
Modal Kerja 6,768,777 4,499,168 214,702 83,231 410,061 11,975,939 Working capital
20,963,588 7,937,445 396,168 128,518 1,282,823 30,708,542
25,232,859

g. Kredit yang direstrukturisasi (lanjutan) g. Restructured loans (continued)
2019
Dalam
Perhatian Kurang
Khusus/ Lancar/
Modal Kerja 445,894 110,065 - - - 555,959 Working capital
Investasi 1,014,503 - - - - 1,014,503 Investment
Konsumsi 59,125 43,225 6,344 5,366 280 114,340 Consumer
1,519,522 153,290 6,344 5,366 280 1,684,802
penurunan nilai (238,156) impairment losses
1,446,646
2018
Dalam
Perhatian Kurang
Khusus/ Lancar/
Modal Kerja 526,545 42,829 63,147 17,890 333,109 983,520 Working capital
Investasi 666,848 82,291 30,928 16,166 32,701 828,934 Investment
Konsumsi 54,390 51,455 8,353 4,128 13,333 131,659 Consumer
1,247,783 176,575 102,428 38,184 379,143 1,944,113
1,464,179
Kredit yang direstrukturisasi meliputi antara lain Restructured loans include loans principal and interest
penjadwalan ulang pembayaran pokok kredit dan rescheduling, overdue interest exemption and
bunga, pembebasan tunggakan bunga dan additional loan facilities.
penambahan fasilitas kredit.
Jumlah kredit yang diberikan yang telah The amount of loans that have been restructured as a
direstrukturisasi akibat dari pandemi COVID-19 pada result of the COVID-19 pandemic as at 31 December
tanggal 31 Desember 2020 adalah sebesar 2020 is amounted to Rp 25,398,853.
Rp 25.398.853.
Tidak ada kredit yang direstrukturisasi yang termasuk There are no restructured loans to related parties.
dalam kredit yang diberikan kepada pihak berelasi.
h. Kredit sindikasi h. Syndicated loans
Kredit sindikasi merupakan kredit yang diberikan Syndicated loans represent loans provided to the
kepada debitur berdasarkan perjanjian pembiayaan debtor under syndication agreements with other
bersama dengan bank lain. banks.

h. Kredit sindikasi (lanjutan) h. Syndicated loans (continued)
Jumlah kredit sindikasi antara Bank CIMB Niaga dan The amount of syndicated loans between Bank CIMB
bank lain pada tanggal 31 Desember 2020 adalah Niaga and other banks as at 31 December 2020
sebesar Rp 25.739.411 (2019: Rp 26.346.524; 2018: amounted to Rp 25,739,411 (2019: Rp 26,346,524;
Rp 17.052.322). Partisipasi Bank CIMB Niaga dalam 2018: Rp 17,052,322). Bank CIMB Niaga’s
kredit sindikasi tersebut pada tanggal 31 Desember participation in syndicated loans as at 31 December
2020 sebesar 3,00% - 40,54% (2019: 29,00% - 2020 is 3.00% - 40.54% (2019: 29.00% - 30.00%;
30,00%; 2018: 1,00% - 50,00%) Bank CIMB Niaga 2018: 1.00%- 50.00%) . Bank CIMB Niaga also acted
juga bertindak selaku pimpinan dan/atau arranger, as lead manager and/or arranger, where the
dimana persentase Bank CIMB Niaga sebagai percentage of Bank CIMB Niaga as arranger is
arranger adalah sebesar 3,50% - 79,67% dari seluruh 3.50% - 79.67% of the total syndicated loans at
kredit sindikasi tersebut pada tanggal 31 Desember 31 December 2020 (2019 and 2018: 98.00%)
2020 (2019 dan 2018: 98,00% ).
i. Cadangan kerugian penurunan nilai i. Allowance for impairment losses
Mutasi cadangan kerugian penurunan nilai kredit yang The movements of allowance for impairment losses
diberikan adalah: are as follows:

Tahap/ Tahap/
Stage 3 Stage 3
Saldo awal - - - - 5,511,081 473,897 5,984,978 5,951,354 6,984,706 Beginning balance
Implementasi penerapan PSAK 71 - - - - 4,641,132 - 4,641,132 - - SFAS 71 implementation
dampak penerapan PSAK 71 2,940,959 3,569,340 617,224 3,024,690 10,152,213 473,897 10,626,110 5,951,354 6,984,706 after impact of SFAS 71 implementation
Perubahan pada cadangan kerugian kredit Changes in expected credit losses due to
berdasarkan perpindahan antar tahapan: transfer within stages:
Pindah ke Tahap 1 526,523 (501,380) (25,143) - - - - - - Transfer to Stage 1
Pindah ke Tahap 2 (78,179) 131,712 (53,533) - - - - - - Transfer to Stage 2
Pindah ke Tahap 3 (241,546) (477,235) 718,781 - - - - - - Transfer to Stage 3
Total perpindahan antar tahapan 206,798 (846,903) 640,105 - - - - - - Total transfer within stages
Penambahan kredit selama tahun berjalan 548,478 - - - 548,478 - 548,478 3,307,201 3,053,594 Additional loans during the year
Pindah ke Tahap 2 dan 3 (359,918) 347,980 11,938 - - - - - - Transfer to Stage 2 and 3
Kredit yang telah dilunasi (228,965) (141,512) - - (370,477) - (370,477) - - Loans that have been derecognised
Perubahan pada risiko kredit (642,704) 1,087,324 (162,053) 4,849,780 5,132,347 219,835 5,352,182 - - Change in credit risk
Total yang dibebankan ke laba rugi (683,109) 1,293,792 (150,115) 4,849,780 5,310,348 219,835 5,530,183 3,307,201 3,053,594 Total charge to Income Statement
Penerimaan kembali kredit yang

diberikan yang telah dihapuskan Recovery of written-off loans
selama periode berjalan - - 421,956 159,272 581,228 60,990 642,218 926,930 431,989 during the period
Penghapusan selama periode berjalan - - (1,072,439) (2,742,644) (3,815,083) (247,812) (4,062,895) (1,917,103) (4,145,642) Write-off during the period
Lain-lain *) (121,807) (470,629) (2,885) (260,146) (855,467) (61,542) (917,009) (2,283,404) (373,293) Others *)
Saldo akhir 2,342,841 3,545,600 453,846 5,030,952 11,373,239 445,368 11,818,607 5,984,978 5,951,354 Ending balance
Rincian cadangan kerugian penurunan nilai pada As at 31 December 2020, 2019, and 2018 allowance
tanggal 31 Desember 2020, 2019, dan 2018 for impairment losses based on type of loans consist
berdasarkan jenis adalah: of:
2020 2019 2018
Modal kerja 6,463,278 3,281,880 2,727,080 Working capital
Jumlah 11,818,607 5,984,978 5,951,354 Total


i. Cadangan kerugian penurunan nilai (lanjutan) i. Allowance for impairment losses( continued)
Bank telah melakukan penilaian sensitivitas kerugian The Bank has performed ECL sensitivity assessment
kredit ekspektasian terhadap kredit yang diberikan on loans based on the changes in key macroeconomic
berdasarkan perubahan variabel–variabel variables, such as unemployment rate, customer
makroekonomi kunci, yaitu tingkat pengangguran, confidence index, house price index, retail sales index
tingkat kepercayaan konsumen, indeks harga rumah, and shares price index. The sensitivity assessment
indeks penjualan ritel dan indeks harga saham outlines the effect of changes in those variables while
gabungan. Penilaian sensitivitas dilakukan hanya other variables remain constant.
dengan mengubah variabel-variabel tersebut
sedangkan seluruh variabel lain dianggap konstan.
2020
Cadangan kerugian
penurunan nilai/
Perubahan/ Allowance for
Changes impairment losses
Konsumsi Consumer
Tingkat pengangguran +/- 10 bps Unemployment rate
Tingkat kepercayaan konsumen +/- 10 bps Customer confidence index
Indeks harga rumah +/- 100 bps House price index
Total kenaikan cadangan kerugian penurunan nilai dalam Total increase in allowance for impairment losses on
perubahan positif 405 positive changes
Total penurunan cadangan kerugian penurunan nilai dalam Total decrease in allowance for impairment losses on
perubahan negatif (404) negative changes
Modal Kerja dan Investasi Working Capital and Investment
Indeks penjualan ritel +/- 5 bps Retail sales index
Indeks harga saham gabungan +/- 50 bps Shares price index
Total kenaikan cadangan kerugian penurunan nilai dalam Total increase in allowance for impairment losses on
perubahan positif 230 positive changes
Total penurunan cadangan kerugian penurunan nilai dalam Total decrease in allowance for impairment losses on
perubahan negatif (226) negative changes
kerugian penurunan nilai yang dibentuk cukup untuk impairment losses is adequate to cover losses arising
menutup kerugian yang timbul akibat tidak tertagihnya from uncollectible loans.
kredit yang diberikan.
j. Penghapusbukuan kredit macet j. Write-off loans for “Loss” loans category
Pada tahun yang berakhir 31 Desember 2020, Bank For the year period ended 31 December 2020, Bank
CIMB Niaga melaksanakan penghapusbukuan kredit CIMB Niaga write-off loans amounted to Rp 4,062,895
sebesar Rp 4.062.895 (2019: Rp 1.917.103; 2018: (2019: Rp 1,917,103; 2018: Rp 4,145,642). Loans
Rp 4.145.642). Adapun kriteria debitur yang dapat write-off criteria are as follows:
dihapusbukukan meliputi:
a. Fasilitas kredit telah mengalami penurunan nilai; a. Loan facility is classified as impaired;
b. Fasilitas kredit telah dibentuk cadangan kerugian b. Loan facility has been provided with 100%
penurunan nilai sebesar 100% dari pokok kredit; allowance for impairment losses from the loan
principal;
c. Hapus buku dilakukan terhadap seluruh c. The write-offs are performed for all loan
kewajiban kreditnya, termasuk yang berasal dari obligations, including non-cash loan facilities, and
fasilitas non-cash loan sehingga the loan obligations shall not be written-off
penghapusbukuan tidak boleh dilakukan pada partially; and
sebagian kewajiban kreditnya (partial write-off);
dan
d. Diumumkan secara terbuka d. Announced publicly.

k. Kredit Usaha Kecil, Mikro, dan Menengah (UMKM) k. Micro, Small, and Medium Enterprises (MSME)
Loans
Jumlah UMKM pada tanggal 31 Desember 2020 As at 31 December 2020, the outstanding balance of
adalah sebesar Rp 21.112.655 (2019: Rp 23.135.790; MSME is Rp 21,112,655 (2019: Rp 23,135,790; 2018:
2018: Rp 25.935.895). Rasio kredit UMKM terhadap Rp 25,935,895). As at 31 December 2020, ratio of
jumlah kredit yang diberikan konsolidasian pada MSME loans to total consolidated loan is 12.30%
tanggal 31 Desember 2020 sebesar 12,30% (2019: (2019: 12.11%; 2018: 13.92%). These ratios are
12,11%; 2018: 13,92%), dimana rasio ini dihitung calculated according to BI regulation
berdasarkan ketentuan PBI No. 14/22/PBI/2012 No.14/22/PBI/2012 dated 21 December 2012
tanggal 21 Desember 2012 sebagaimana telah amended with the PBI No. 17/12/PBI/2015 dated 25
diubah dengan PBI No. 17/12/PBI/2015 tanggal June 2015 concerning The Extension of Credit or
25 Juni 2015 mengenai Pemberian Kredit atau Financing by Commercial Banks and Technical
Pembiayaan oleh Bank Umum dan Bantuan Teknis Assistance in the Development of Micro, Small, and
dalam Rangka Pengembangan Usaha Mikro, Kecil, Medium Enterprises Segment.
dan Menengah.
l. Informasi pokok lainnya sehubungan dengan l. Other significant information relating to loans
kredit yang diberikan
Pada tanggal 26 Desember 2018, OJK mengeluarkan On 26 December 2018, OJK issued regulation
ketentuan No.32/POJK.03/2018 tentang “Batas No. 32/POJK.03/2018 regarding “Legal Lending Limit
Maksimum Pemberian Kredit dan Penyediaan Dana and Large Exposure for Commercial Bank” which
Besar bagi Bank Umum” yang berlaku efektif sejak effective since 1 June 2019 which has been updated
1 Juni 2019 yang telah diperbaharui dengan POJK with regulation No. 38/POJK.03/2019 which effective
No. 38/POJK.03/2019 yang berlaku mulai tanggal since 1 January 2020. This regulation requires the
1 Januari 2020. Peraturan tersebut menetapkan batas maximum lending limit to one and/or group of non-
maksimum penyediaan dana kepada satu peminjam related party debtor which not exceed to 25% of the
dan/atau kelompok peminjam yang bukan merupakan Bank’s core capital. As at 31 December 2020, 2019,
pihak berelasi tidak melebihi 25% dari modal inti Bank. and 2018, there was no breach and violation of the
Pada tanggal 31 Desember 2020, 2019, dan 2018, LLL requirements for both related parties and third
tidak terdapat pelampauan dan pelanggaran atas parties.
BMPK baik kepada pihak berelasi dan pihak tidak
berelasi.
Kredit yang diberikan dijamin dengan agunan yang Loans are generally secured by collateral with
diikat dengan hipotik, hak tanggungan atau surat registered mortgages, powers of attorney to sell, time
kuasa untuk menjual, deposito berjangka, dan jaminan deposits, and by other guarantees.
lainnya.
Kredit yang dijamin dengan jaminan tunai pada Loans secured by cash collateral as at 31 December
tanggal 31 Desember 2020 adalah sebesar 2020 amounted to Rp 5,391,533 (2019:
Rp 5.391.533 (2019: Rp 11.253.958; 2018: Rp 11,253,958; 2018: Rp 5,140,430) (refer to Notes
Rp 5.140.430) (lihat Catatan 24, 25, dan 26). 24, 25, and 26).

13. PIUTANG PEMBIAYAAN KONSUMEN 13. CONSUMER FINANCING RECEIVABLES
Piutang pembiayaan konsumen Entitas Anak adalah: The Subsidiary’s consumer financing receivables are:
2020 2019 2018
Piutang pembiayaan konsumen - bruto 3,683,422 3,960,099 2,590,558 Consumer financing receivables - gross
Cicilan diterima dimuka (3,226) (3,393) (3,723) Advance installments
Dikurangi: Less:
Pendapatan pembiayaan konsumen
yang belum diakui (595,994) (702,473) (387,035) Unearned consumer financing income
Piutang pembiayaan konsumen - bersih 3,084,202 3,254,233 2,199,800 Consumer financing receivables - net
2,977,849 3,179,370 2,052,802
Piutang pembiayaan konsumen Entitas Anak per The Subsidiary’s consumer financing receivables as of
31 Desember 2020 berdasarkan tahapan adalah: 31 December 2020 by staging are:
2020
Piutang pembiayaan konsumen-bersih 2,038,116 71,723 54,211 2,164,050 Consumer financing receivables-net
penurunan nilai (39,526) (22,711) (37,150) (99,387) impairment losses
Jumlah konvensional 1,998,590 49,012 17,061 2,064,663 Total conventional
Syariah Sharia
Piutang pembiayaan konsumen-bersih 920,152 Consumer financing receivables-net
Jumlah Syariah 913,186 Total Sharia
Jumlah piutang pembiayaan konsumen - Total consumer finaning receivable -
konvensional dan syariah 3,084,202 conventional and sharia
Dikurangi: Cadangan kerugian Less: Allowance for impairment
penurunan nilai - konvensional dan syariah (106,353) losses - conventional and sharia
Jumlah piutang Total consumer
pembiayaan konsumen-bersih 2,977,849 financing receivable-net
Berikut ini cicilan piutang pembiayaan konsumen – bruto Below is the installment of gross consumer financing
berdasarkan tanggal jatuh tempo: receivables based on the maturity:
2020 2019 2018
< 1 bulan 24,924 33,419 51,792 < 1 month
> 1 - ≤ 3 bulan 358,331 430,182 350,148 > 1 - ≤ 3 months
> 3 - ≤ 12 bulan 1,087,186 1,145,932 923,314 > 3 - ≤ 12 months
> 1 - ≤ 5 tahun 2,212,981 2,350,566 1,265,304 > 1 - ≤ 5 years
3,683,422 3,960,099 2,590,558
Less: Allowance for

13. PIUTANG PEMBIAYAAN KONSUMEN (lanjutan) 13. CONSUMER FINANCING RECEIVABLES (continued)
Mutasi piutang pembiayaan konsumen Movement of consumer financing receivables
Mutasi piutang pembiayaan konsumen yang diberikan The movement of loans based on staging are as follows:
berdasarkan tahapan adalah:
2020
Tahap/ Tahap/
Stage 3 Stage 3
Saldo awal 2,208,054 43,992 13,124 - 2,265,170 Beginning balance
Perubahan piutang pembiayaan Changes in consumer financing
konsumen berdasarkan receivable based on transfer
perpindahan antar tahapan within stages
Pindah ke Tahap 1 11,055 (9,423) (1,632) - - Transfer to Stage 1
Pindah ke Tahap 2 (73,538) 73,666 (128) - - Transfer to Stage 2
Pindah ke Tahap 3 (55,708) (11,263) 66,971 - - Transfer to Stage 3
Total perpindahan antar tahapan (118,191) 52,980 65,211 - - Total transfer within stages
Penambahan kredit selama tahun berjalan 1,216,475 - - - 1,216,475 Additional loans during the year
Pindah ke Tahap 2 dan 3 (94,247) 19,526 74,721 - - Transfer to Stage 2 and 3
Penghapusbukuan piutang Write-off of consumer financing
pembaiyaan konsumen - - (57,226) - (57,226) receivable
Pelunasan penuh dan sebagian (1,173,975) (44,775) (41,619) - (1,260,369) Full and partial payment
Saldo akhir 2,038,116 71,723 54,211 - 2,164,050 Ending balance
Mutasi cadangan kerugian penurunan nilai atas piutang The movements of allowance for impairment losses on
pembiayaan konsumen adalah: consumer financing receivables are as follows:

Tahap/ Tahap/
Stage 3 Stage 3
Saldo awal - - - - 45,810 29,053 74,863 146,998 323,334 Beginning balance
Implementasi penerapan PSAK 71 - - - - 3,002 - 3,002 - - SFAS 71 implementation
dampak penerapan PSAK 71 27,430 11,689 9,693 - 48,812 29,053 77,865 146,998 323,334 after impact of SFAS 71 implementation
Perubahan pada cadangan kerugian penurunan nilai Changes in allowance for impairment losses
berdasarkan perpindahan antar tahapan: due to transfer within stages:
Pindah ke Tahap 1 3,274 (2,070) (1,204) - - - - - - Transfer to Stage 1
Pindah ke Tahap 2 (2,111) 2,211 (100) - - - - - - Transfer to Stage 2
Pindah ke Tahap 3 (1,664) (3,140) 4,804 - - - - - - Transfer to Stage 3
Total perpindahan antar tahapan (501) (2,999) 3,500 - - - - - - Total transfer within stages
Piutang pembiayaan konsumen yang baru diberikan 45,634 - - - 45,634 - 45,634 - - New consumer financing receivables originated
Pindah ke Tahap 2 dan 3 (18,606) 6,637 11,969 - - - - - - Transfer to Stage 2 and 3
Pelunasan penuh atau sebagian (8,105) (5,616) (6,956) - (20,677) - (20,677) - - Full or partial repayment
Perubahan pada risiko kredit (6,326) 13,000 76,170 - 82,844 (3,697) 79,147 (4,750) (62,867) Change in credit risk
Total yang dibebankan/(dikreditkan) pada laba rugi 12,597 14,021 81,183 - 107,801 (3,697) 104,104 (4,750) (62,867) Total charged/(credited) to profit or loss
Penghapusan selama tahun berjalan - - (57,226) - (57,226) (18,390) (75,616) (67,385) (113,469) Write off during the year
Saldo akhir 39,526 22,711 37,150 - 99,387 6,966 106,353 74,863 146,998 Ending balance
Manajemen berpendapat bahwa jumlah cadangan kerugian Management believes that the allowance for impairments
penurunan nilai yang dibentuk telah memadai. losses is adequate.
Tingkat bunga rata-rata per tahun untuk piutang The average annual interest rate of consumer financing
pembiayaan konsumen adalah sebesar 14,79% untuk receivables is 14.79% for the year ended
tahun yang berakhir 31 Desember 2020 (2019: 14,12%; 31 December 2020 (2019: 14.12%; 2018: 12.53%).
2018: 12,53%).

13. PIUTANG PEMBIAYAAN KONSUMEN (lanjutan) 13. CONSUMER FINANCING RECEIVABLES (continued)
Berikut piutang pembiayaan konsumen – bersih Below are the net consumer financing receivables based
berdasarkan kolektibilitas: on the collectibility:
2020 2019 2018
Lancar 2,699,977 2,812,471 1,622,854 Pass

Dalam Perhatian Khusus 339,311 420,569 524,794 Special Mention
Kurang Lancar 24,280 9,807 32,253 Sub-Standard
Diragukan 12,357 11,386 19,899 Doubtful
Macet 8,277 - - Loss
3,084,202 3,254,233 2,199,800
Jumlah 2,977,849 3,179,370 2,052,802 Total
Piutang pembiayaan konsumen dijamin dengan Bukti Consumer financing receivables are secured by Vehicle
Pemilikan Kendaraan Bermotor (BPKB) atau bukti lainnya Ownership Certificates (BPKB) or other documents
atas barang jaminan yang dibiayai. presenting ownership of financed assets.
14. PIUTANG SEWA PEMBIAYAAN 14. FINANCING LEASE RECEIVABLES
Piutang sewa pembiayaan Entitas Anak adalah: The Subsidiary’s financing lease receivables are:
2020 2019 2018
Piutang sewa guna usaha - bruto - 245 5,758 Finance lease receivables - gross
Nilai sisa yang terjamin - 37,724 45,391 Guaranteed residual values
Pendapatan sewa pembiayaan yang
ditangguhkan - (65) (652) Unearned lease income
Simpanan jaminan - (37,724) (45,391) Security deposit
- 180 5,106
- - 1,180
Pada tanggal 31 Desember 2020, jumlah piutang sewa As at 31 December 2020, total impaired financing lease
pembiayaan yang mengalami penurunan nilai adalah receivables amounted to nil (2019: Rp 180; 2018:
sebesar nihil (2019: Rp 180; 2018: Rp 3.908). Rp 3,908).
Cicilan piutang sewa pembiayaan yang akan diterima The installment of financing lease receivables, based on
berdasarkan sisa waktu dari tanggal laporan posisi remaining period from statement of financial position’s
keuangan konsolidasian sampai dengan tanggal jatuh consolidated date to maturity date are as follows:
tempo adalah:
2020 2019 2018
< 1 bulan - 245 1,440 < 1 month

> 1 - ≤ 3 bulan - - 2,772 > 1 - ≤ 3 months
> 3 - ≤ 12 bulan - - 1,546 > 3 - ≤ 12 months
- 245 5,758

14. PIUTANG SEWA PEMBIAYAAN (lanjutan) 14. FINANCING LEASE RECEIVABLES (continued)
Mutasi cadangan kerugian penurunan nilai piutang sewa The movements of the allowances for impairment losses
pembiayaan adalah: financing lease receivables are as follows:
2020 2019 2018
Saldo awal 180 3,926 8,671 Beginning balance

Pemulihan selama Reversal during the year
tahun berjalan (lihat Catatan 39) - (111) (4,745) (refer to Note 39)
Penghapusan selama tahun berjalan (180) (3,635) - Write-off during the year
Saldo akhir - 180 3,926 Ending balance
Berikut piutang sewa pembiayaan – bersih berdasarkan Below are the net financing lease receivables based on the
kolektibilitas: collectibility:
2020 2019 2018
Lancar - - 960 Pass

Dalam Perhatian Khusus - - 238 Special Mention
Diragukan - - 37 Doubtful
Macet - 180 3,871 Loss
- 180 5,106
Jumlah - - 1,180 Total
Manajemen berpendapat bahwa jumlah cadangan Management believes that the allowance for impairment
kerugian penurunan nilai yang dibentuk telah memadai. losses is adequate.
15. TAGIHAN DAN LIABILITAS AKSEPTASI 15. ACCEPTANCE RECEIVABLES AND PAYABLES
a. Berdasarkan mata uang a. By currencies
2020 2019 2018

Tagihan akseptasi Acceptance receivables
Rupiah 1,334,011 1,968,238 1,977,762 Rupiah
Mata uang asing 819,745 1,798,833 2,484,721 Foreign currencies
2,153,756 3,767,071 4,462,483

2,022,665 3,767,071 4,462,483
Liabilitas akseptasi Acceptance payables
Rupiah 1,334,011 1,968,238 1,977,762 Rupiah
Mata uang asing 819,745 1,798,833 2,484,721 Foreign currencies
2,153,756 3,767,071 4,462,483

15. TAGIHAN DAN LIABILITAS AKSEPTASI (lanjutan) 15. ACCEPTANCE RECEIVABLES AND PAYABLES
(continued)
b. Berdasarkan kolektibilitas dan tahapan b. By collectability and staging
Berdasarkan kolektibilitas By collectability

2020 2019 2018
Lancar 2,153,756 3,627,350 4,462,483 Pass

Dalam perhatian khusus - 139,721 - Special mention
2,153,756 3,767,071 4,462,483
2,022,665 3,767,071 4,462,483
2020
Tahap 1 1,976,891 Stage 1
2,087,678
Mutasi tagihan akseptasi berdasarkan tahapan adalah: The movement of acceptance receivables based on
staging is as follows:
2020
Tahap/ Tahap/
Stage 3 Stage 3
Saldo awal 2,933,914 709,630 - 453 3,643,997 Beginning balance
Perpindahan antar tahapan (191,868) 173,645 - 18,223 - Transfer within stages
Penambahan tagihan akseptasi baru 469,898 - - - 469,898 New additional of acceptance receivable
Penghapusbukuan tagihan akseptasi - - - - - Write-off acceptance receivable
Pelunasan penuh dan sebagian (1,235,053) (790,711) - (453) (2,026,217) Full and partial payment
Saldo akhir 1,976,891 92,564 - 18,223 2,087,678 Ending balance
c. Berdasarkan transaksi dengan pihak berelasi dan c. By transactions with related party and third party
pihak ketiga
Pada tanggal 31 Desember 2020, 2019, dan 2018 As at 31 December 2020, 2019, and 2018 there were
tidak terdapat tagihan dan liabilitas akseptasi yang no acceptance receivables and payables from related
berasal dari pihak berelasi. party.

(continued)
d. Berdasarkan jangka waktu perjanjian d. By term of agreements
Tagihan dan liabilitas akseptasi berdasarkan jangka The acceptance receivables and payables classified
waktu perjanjian adalah: according to term of agreements are as follows:
2020 2019 2018

Rupiah Rupiah
< 1 bulan 19,866 7,568 11,714 < 1 month
> 1 - ≤ 3 bulan 543,839 656,681 685,055 > 1 - ≤ 3 months
> 3 - ≤ 6 bulan 697,387 1,176,599 1,181,626 > 3 - ≤ 6 months
> 6 bulan 72,919 127,390 99,367 > 6 months
1,334,011 1,968,238 1,977,762
< 1 bulan 7,068 4,046 10,116 < 1 month
> 1 - ≤ 3 bulan 212,425 201,981 427,405 > 1 - ≤ 3 months
> 3 - ≤ 6 bulan 577,840 1,537,815 1,878,444 > 3 - ≤ 6 months
> 6 bulan 22,412 54,991 168,756 > 6 months
819,745 1,798,833 2,484,721
2,153,756 3,767,071 4,462,483
ekspektasian/penurunan nilai (131,091) - - expected losses/impairment losses
2,022,665 3,767,071 4,462,483

Rupiah Rupiah
< 1 bulan 19,866 7,568 11,714 < 1 month
> 1 - ≤ 3 bulan 543,839 656,681 685,055 > 1 - ≤ 3 months
> 3 - ≤ 6 bulan 697,387 1,176,599 1,181,626 > 3 - ≤ 6 months
> 6 bulan 72,919 127,390 99,367 > 6 months
1,334,011 1,968,238 1,977,762
< 1 bulan 7,068 4,046 10,116 < 1 month
> 1 - ≤ 3 bulan 212,425 201,981 427,405 > 1 - ≤ 3 months
> 3 - ≤ 6 bulan 577,840 1,537,815 1,878,444 > 3 - ≤ 6 months
> 6 bulan 22,412 54,991 168,756 > 6 months
819,745 1,798,833 2,484,721
2,153,756 3,767,071 4,462,483

(continued)
e. Berdasarkan jatuh tempo e. By maturity date
Tagihan dan liabilitas akseptasi berdasarkan sisa The acceptance receivables and payables
umur sampai dengan jatuh tempo adalah: classification according to remaining period to
maturity are as follows:
2020 2019 2018

Rupiah Rupiah
< 1 bulan 391,977 377,001 642,034 < 1 month
> 1 - ≤ 3 bulan 655,835 989,960 786,842 > 1 - ≤ 3 months
> 3 - ≤ 6 bulan 286,199 596,167 545,420 > 3 - ≤ 6 months
> 6 bulan - 5,110 3,466 > 6 months
1,334,011 1,968,238 1,977,762
< 1 bulan 194,724 328,917 378,281 < 1 month
> 1 - ≤ 3 bulan 397,594 692,838 1,371,580 > 1 - ≤ 3 months
> 3 - ≤ 6 bulan 217,637 774,229 620,163 > 3 - ≤ 6 months
> 6 bulan 9,790 2,849 114,697 > 6 months
819,745 1,798,833 2,484,721
2,153,756 3,767,071 4,462,483
penuruanan nilai (131,091) - - expected losses
2,022,665 3,767,071 4,462,483

Rupiah Rupiah
< 1 bulan 391,977 377,001 642,034 < 1 month
> 1 - ≤ 3 bulan 655,835 989,960 786,842 > 1 - ≤ 3 months
> 3 - ≤ 6 bulan 286,199 596,167 545,420 > 3 - ≤ 6 months
> 6 bulan - 5,110 3,466 > 6 months
1,334,011 1,968,238 1,977,762
< 1 bulan 194,724 328,917 378,281 < 1 month
> 1 - ≤ 3 bulan 397,594 692,838 1,371,580 > 1 - ≤ 3 months
> 3 - ≤ 6 bulan 217,637 774,229 620,163 > 3 - ≤ 6 months
> 6 bulan 9,790 2,849 114,697 > 6 months
819,745 1,798,833 2,484,721
2,153,756 3,767,071 4,462,483

(continued)
f. Cadangan kerugian penurunan nilai f. Allowance for impairment losses
Mutasi cadangan kerugian penurunan nilai tagihan The movements of allowance for impairment losses of
akseptasi adalah: acceptance receivables is as follows:
2020
Konvensional/ Syariah/
Conventional Sharia
Tahap/ Tahap/
Stage 3 Stage 3
Tahap/ Tahap/ Kolektif/ Individual/ Jumlah/ Jumlah/
Stage 1 Stage 2 Collective Individual Total Total
Saldo awal - - - - - - Beginning balance
Implementasi penerapan PSAK 71 - - - - 498,980 - SFAS 71 implementation
dampak penerapan PSAK 71 103,599 395,213 - 168 498,980 - after impact of SFAS 71 implementation
Perubahan pada cadangan kerugian penurunan nilai Changes in allowance for impairment losses
berdasarkan perpindahan antar tahapan: due to transfer within stages:
Pindah ke Tahap 1 (7,758) 7,758 - - - - Transfer to Stage 1
Pindah ke Tahap 2 18,976 (18,976) - - - - Transfer to Stage 2
Pindah ke Tahap 3 - - - - - - Transfer to Stage 3
Total perpindahan antar tahapan 11,218 (11,218) - - - - Total transfer within stages
Tagihan akseptasi yang baru diberikan 23,623 - - - 23,623 - New acceptance receivable originated
Tagihan akseptasi yang sudah dilunasi (9,937) (372,764) - (168) (382,869) - Acceptance receivables that have been paid off
Perubahan pada risiko kredit (33,061) 14,812 - 9,606 (8,643) - Change in credit risk
Total yang dibebankan/(dikreditkan) pada laba rugi (19,375) (357,952) - 9,438 (367,889) - Total charged/(credited) to profit or loss
Saldo akhir 95,442 26,043 - 9,606 131,091 - Ending balance
Sesuai dengan ketentuan PSAK 71, Bank CIMB Niaga In accordance with SFAS 71, Bank CIMB Niaga has
telah membentuk cadangan kerugian penurunan nilai calculated the allowance for impairment losses on
atas tagihan akseptasi sejak diimplementasikannya acceptance receivable since the implementation of
PSAK 71 di 1 Januari 2021. SFAS 71 at 1 January 2021.
kerugian penurunan nilai yang dibentuk cukup untuk impairment losses is adequate to cover losses arising
menutup kerugian yang timbul akibat tidak tertagihnya from uncollectible acceptance receivable.
tagihan akseptasi.
16. PENYERTAAN 16. INVESTMENTS
2020 2019 2018

Metode harga perolehan 4,214 4,214 4,214 Cost method
penurunan nilai (555) (555) (555) expected impairment losses
3,659 3,659 3,659

16. PENYERTAAN (lanjutan) 16. INVESTMENTS (continued)
Penyertaan saham berdasarkan metode harga perolehan The details of investments in shares based on cost method
adalah: are as follows:
2020 2019 2018

Persentase Nilai Persentase Nilai Persentase Nilai
Kepemilikan/ Nominal/ Kepemilikan/ Nominal/ Kepemilikan/ Nominal/
Jenis Usaha/ Percentage of Face Percentage of Face Percentage of Face
Nature of Ownership Value Ownership Value Ownership Value
Business (%) Rp (%) Rp (%) Rp
PT Bank Muamalat Perbankan/ 0.13 1,000 0.13 1,000 0.13 1,000 PT Bank Muamalat
Indonesia Tbk Banking Indonesia Tbk
PT Sarana Jatim Ventura Modal/ 5.81 500 5.81 500 5.81 500 PT Sarana Jatim Ventura
Capital Ventura
PT Sarana Yogya Ventura Modal/ 3.94 300 3.94 300 3.94 300 PT Sarana Yogya Ventura
Capital Ventura
PT Sarana Sumbar Ventura Modal/ 3.37 250 3.37 250 3.39 250 PT Sarana Sumbar Ventura
Capital Ventura
PT Sarana Bali Ventura Modal/ 3.81 250 3.81 250 3.81 250 PT Sarana Bali Ventura
Capital Ventura
PT Sarana Sulsel Ventura Modal/ 2.91 250 2.91 250 4.64 250 PT Sarana Sulsel Ventura
Capital Ventura
PT Sarana Jateng Ventura Modal/ 2.62 250 2.62 250 2.62 250 PT Sarana Jateng Ventura
Capital Ventura
PT Bhakti Sarana Ventura Modal/ 2.71 225 2.71 225 2.71 225 PT Bhakti Sarana Ventura
Capital Ventura
PT Sarana Papua Ventura Modal/ 5.63 200 5.63 200 5.63 200 PT Sarana Papua Ventura
Capital Ventura
PT Sarana Lampung Ventura Modal/ 2.53 150 2.53 150 2.53 150 PT Sarana Lampung Ventura
Capital Ventura
PT Sarana Surakarta Ventura Modal/ 1.85 150 1.85 150 1.85 150 PT Sarana Surakarta Ventura
Capital Ventura
PT Sarana Kalbar Ventura Modal/ 2.45 100 2.45 100 2.45 100 PT Sarana Kalbar Ventura
Capital Ventura
PT Sarana Sulut Ventura Modal/ 2.85 100 2.85 100 2.85 100 PT Sarana Sulut Ventura
Capital Ventura
PT Sarana Maluku Ventura Modal/ 2.73 100 2.73 100 2.73 100 PT Sarana Maluku Ventura
Capital Ventura
PT Sarana Jambi Ventura Modal/ 2.24 100 2.24 100 2.24 100 PT Sarana Jambi Ventura
Capital Ventura
PT Sarana Riau Ventura Modal/ 1.35 100 1.35 100 1.35 100 PT Sarana Riau Ventura
Capital Ventura
PT Sarana Aceh Ventura Modal/ 1.32 100 1.32 100 1.32 100 PT Sarana Aceh Ventura
Capital Ventura
Lainnya Lembaga pembiayaan/ Others
(dibawah Rp 100 juta) - nilai penuh Leasing 0.05 - 1.52 89 0.05 - 1.52 89 0.05 - 1.52 89 (under Rp 100 million) - full amount
4,214 4,214 4,214
penurunan nilai (555) (555) (555) impairment losses
3,659 3,659 3,659
Mutasi cadangan kerugian penurunan nilai penyertaan The movements of allowance impairment losses on
adalah sebagai berikut: investment are as follows:
2020 2019 2018

Saldo awal 555 555 805 Beginning balance
Penghapusan selama tahun berjalan - - (250) Write off during the year
Saldo akhir 555 555 555 Ending balance
Manajemen berpendapat bahwa jumlah cadangan Management believes that the above allowance for
kerugian penurunan nilai tersebut telah memadai. impairment losses is adequate.

17. ASET TETAP 17. FIXED ASSETS
Aset tetap terdiri dari: Fixed assets consist of the following:
2020 2019 2018

Kepemilikan langsung 6,541,976 6,248,281 5,453,282 Direct ownership
Aset hak- guna 447,745 - - Right-of-use assets
6,989,721 6,248,281 5,453,282
2020
1 Januari/ Penambahan/ Pengurangan/ Reklasifikasi/ 31 Desember/
January Additions Disposals Reclassification December
Kepemilikan langsung Direct ownership
Harga perolehan Cost
Tanah 3,018,029 6,228 - - 3,024,257 Land
Bangunan, termasuk renovasi Buildings, including renovation
dan instalasi 2,080,434 - (16,144) 69,081 2,133,371 and installations
Perlengkapan, mesin Office equipments, machines
dan perabot kantor 2,295,148 2,026 (108,316) 604,130 2,792,988 and furnitures
Kendaraan bermotor 25,976 - (768) 6,196 31,404 Motor vehicles
7,419,587 8,254 (125,228) 679,407 7,982,020
Aset dalam peyelesaian 802,975 671,436 - (679,407) 795,004 Assets in progress

8,222,562 679,690 (125,228) - 8,777,024
Akumulasi penyusutan Accumulated depreciation

dan instalasi 456,746 108,604 (15,077) - 550,273 and installations
dan perabot kantor 1,505,706 270,634 (105,944) - 1,670,396 and furnitures
Kendaraan bermotor 11,829 2,918 (368) - 14,379 Motor vehicles
1,974,281 382,156 (121,389) - 2,235,048
Nilai buku bersih 6,248,281 6,541,976 Net book value
2020
Saldo awal yang
disesuaikan/
Adjusted
1 Januari/ Dampak PSAK 73/ beginning Penambahan/ Pengurangan/ 31 Desember/
January Impact of SFAS 73 balance Additions Disposals December
Aset hak-guna Right-of-use assets
Bangunan - 454,800 454,800 80,015 - 534,815 Buildings
dan perabot kantor - 67,292 67,292 - - 67,292 and furnitures
Kendaraan bermotor - 48,234 48,234 - - 48,234 Motor vehicles
- 570,326 570,326 80,015 - 650,341

Bangunan - - - 162,215 - 162,215 Buildings
dan perabot kantor - - - 15,706 - 15,706 and furnitures
Kendaraan bermotor - - - 24,675 - 24,675 Motor vehicles
- - - 202,596 - 202,596
Nilai buku bersih - 570,326 570,326 447,745 Net book value

17. ASET TETAP (lanjutan) 17. FIXED ASSETS (continued)
2019
Selisih penilaian
kembali aset tetap/
1 Januari/ Penambahan/ Pengurangan/ Reklasifikasi/ Revaluation of 31 Desember/
January Additions Disposals Reclassification of fixed assets December
Tanah 2,699,266 18,975 (176) - 299,964 3,018,029 Land
dan instalasi 2,028,180 7,398 (210,750) 65,473 190,133 2,080,434 and installations
dan perabot kantor 2,939,461 6,276 (927,307) 276,718 - 2,295,148 and furnitures
Kendaraan bermotor 28,445 - (8,638) 6,169 - 25,976 Motor vehicles
7,695,352 32,649 (1,146,871) 348,360 490,097 7,419,587
Aset dalam peyelesaian 525,028 626,307 - (348,360) - 802,975 Assets in progress

8,220,380 658,956 (1,146,871) - 490,097 8,222,562

dan instalasi 576,244 84,499 (203,997) - - 456,746 and installations
dan perabot kantor 2,173,747 257,380 (925,421) - - 1,505,706 and furnitures
Kendaraan bermotor 17,107 2,781 (8,059) - - 11,829 Motor vehicles
2,767,098 344,660 (1,137,477) - - 1,974,281
2018
Tanah 2,697,386 1,880 - - 2,699,266 Land
dan instalasi 1,972,880 23,850 (9,700) 41,150 2,028,180 and installations
dan perabot kantor 2,760,727 48,683 (88,243) 218,294 2,939,461 and furnitures
Kendaraan bermotor 25,424 1,124 (3,107) 5,004 28,445 Motor vehicles
7,456,417 75,537 (101,050) 264,448 7,695,352
Aset dalam peyelesaian 170,877 618,599 - (264,448) 525,028 Assets in progress

7,627,294 694,136 (101,050) - 8,220,380

dan instalasi 480,032 105,492 (9,280) - 576,244 and installations
dan perabot kantor 2,009,452 250,432 (86,137) - 2,173,747 and furnitures
Kendaraan bermotor 17,902 1,936 (2,731) - 17,107 Motor vehicles
2,507,386 357,860 (98,148) - 2,767,098
Rincian keuntungan penjualan aset tetap (lihat Catatan 44) Details of gains from the sale of fixed assets (refer to Note
adalah: 44) are as follows:
2020 2019 2018
Hasil penjualan aset tetap 1,914 2,181 2,782 Proceeds from sale of fixed assets
Nilai buku bersih (76) (708) (427) Net book value
Keuntungan 1,838 1,473 2,355 Gain

Pengurangan aset tetap termasuk penghapusbukuan aset The disposals of fixed assets include the write-off,
tetap berupa bangunan termasuk renovasi dan instalasi, damaged and after unused buildings including renovation
perlengkapan, mesin, dan perabot kantor, dan kendaraan and instalations, office equipments, machines, and
bermotor yang, rusak dan tidak terpakai dengan nilai buku furnitures, and motor vehicles, with book value of Rp 3,763
sebesar Rp 3.763 untuk tahun yang berakhir 31 Desember for the year ended 31 December 2020 (2019: Rp 8,686;
2020 (2019: Rp 8.686; 2018: Rp 2.475). 2018: Rp 2,475).
Bank memiliki tanah dengan sertifikat Hak Guna Bangunan Bank has land with “Hak Guna Bangunan” (HGB) titles
(HGB) yang mempunyai masa manfaat 20 (dua puluh) which have an economic useful life of 20 (twenty) to
hingga 40 (empat puluh) tahun. Masa berlaku Hak Guna 40 (forty) years. The landrights (HGB) have expiry date
Bangunan (HGB) berakhir antara 2020 sampai dengan ranging from 2020 until 2049. Management believes that
2049. Manajemen berpendapat tidak terdapat masalah there will be no difficulty in obtaining the extension of the
dengan perpanjangan hak atas tanah karena seluruh tanah landrights as all the land was acquired legally and was
diperoleh secara sah dan didukung dengan bukti supported by sufficient evidence of ownership.
kepemilikan yang memadai.
Seluruh aset tetap yang ada pada tanggal 31 Desember All of the fixed assets as at 31 December 2020, 2019 and
2020, 2019, dan 2018 digunakan untuk menunjang aktivitas 2018 are fully used to support Bank CIMB Niaga and
operasi Bank CIMB Niaga dan Entitas Anak. Pada tanggal Subsidiarie’s operation activities. As at 31 December 2020,
31 Desember 2020, beberapa aset tersebut sudah several assets are fully depreciated and still used by Bank
disusutkan penuh dan masih digunakan dalam operasi CIMB Niaga in its operation amounting to
Bank CIMB Niaga sebesar Rp 1.202.257 (2019: Rp 1,202,257 (2019: Rp 1,739,783; 2018: Rp 1,609,958).
Rp 1.739.783; 2018: Rp 1.609.958).
Pada tanggal 31 Desember 2020, aset tetap Bank CIMB As at 31 December 2020, fixed assets, including buildings
Niaga berupa bangunan dan kendaraan bermotor telah and motor vehicles has been insured by Bank CIMB Niaga
diasuransikan terhadap risiko kebakaran, kecurian dan for fire, theft and other risks to PT Lippo General Insurance
risiko lainnya kepada PT Lippo General Insurance Tbk Tbk with an insurance amount to of Rp 3,614,596 (2019:
dengan nilai pertanggungan sebesar Rp 3.614.596 Rp 3,705,028; 2018: Rp 3,693,348) and USD 105 million
(2019: Rp 3.705.028; 2018: Rp 3.693.348) dan USD 105 (2019 and 2018: USD 79 million). Management believes
juta (2019 dan 2018: USD 79 juta). Manajemen that the insured amount is adequate to cover possible
berpendapat bahwa nilai pertanggungan tersebut cukup losses of these assets.
untuk menutup kemungkinan kerugian atas aset yang
diasuransikan.
Manajemen berpendapat tidak terdapat indikasi penurunan Management believes that there is no indication of fixed
nilai atas aset tetap yang dimiliki Bank CIMB Niaga dan asset impairment in the value of Bank CIMB Niaga and
Entitas Anak. Subsidiaries fixed assets.
Aset dalam pembangunan terdiri dari tanah, bangunan Assets in progress comprised of the land, buildings
termasuk renovasi dan instalasi, perlengkapan, mesin, dan including renovation and installations, office equipments,
perabot kantor. Konstruksi tersebut diperkirakan akan machines, and furnitures, and motor vehicles. Those
selesai di tahun 2021 sampai dengan tahun 2022 dengan constructions are estimated to be completed in 2021 until
persentase penyelesaian hingga saat ini adalah 70% - 2022 with current percentages of completion of 70% - 80%.
80%.
Tidak terdapat aset tetap yang digunakan Bank CIMB There are no fixed assets pledged by Bank CIMB Niaga
Niaga dan Entitas Anak sebagai jaminan pinjaman. and Subsidiaries for collateral.

Revaluasi aset tetap Revaluation fixed assets
Penilaian atas nilai wajar aset tetap dilakukan secara Valuation of fixed assets at fair value are performed
berkala (3 - 5 tahun). Pada tanggal 1 Januari 2019 regulary (3 - 5 years). On 1 January 2019 (previously was
(sebelumnya telah direvaluasi pada tanggal 1 Januari revaluated on 1 January 2016), Bank CIMB Niaga did
2016), Bank CIMB Niaga melakukan penilaian kembali aset revaluation again of their fixed assets which performed by
tetap yang dilakukan oleh penilai independen eksternal the following external independent valuer, KJPP Antonius
KJPP Antonius Setiady & Rekan dalam Ringkasan Laporan Setiady & Rekan in the Summary Valuation Report
Penilaian No. KJPP 00041/2-00/PI/07/0008/1/III/2019 No. KJPP 00041/2-00/PI/07/0008/1/III/2019 dated 27 March
tertanggal 27 Maret 2019 yang ditandatangani oleh 2019 which signed by Ir. Antonius Setiady, SCV, MAPPI
Ir. Antonius Setiady, SCV, MAPPI (Cert), Ijin Penilai (Cert), Ijin Penilai Menkeu R.I. No. PB-1.08.00008, MAPPI
Menkeu R.I. No. PB-1.08.00008, MAPPI No. 81-S.00002 No. 81-S.00002 of the assets valuation done from
atas penilaian atas aset yang dilakukan pada tanggal 14 November 2018 to 21 December 2018. Valuations are
14 November 2018 sampai dengan 21 Desember 2018. performed based on Indonesian Valuation Standards based
Penilaian dilakukan berdasarkan Standar Penilaian on reference to recent market transactions done on arm’s
Indonesia, ditentukan berdasarkan transaksi pasar terkini length terms. The valuation method used is market data
dan dilakukan dengan ketentuan-ketentuan yang lazim. approach and cost approach. Revaluation of fixed asset
Metode penilaian yang dipakai adalah metode data pasar has increased the carrying value before and after
dan metode biaya. Penilaian kembali aset tetap menambah revaluation from Rp 3,917,643 to Rp 4,427,110 and
nilai buku sebelum dan sesudah revaluasi dari resulting increase in the carrying amount by Rp 509,467 as
Rp 3.917.643 menjadi Rp 4.427.110 dan menghasilkan “Reserve on revaluation of fixed assets” in the equity
jumlah kenaikan nilai tercatat sebesar Rp 509.467 yang section.
dicatat sebagai “Selisih penilaian kembali aset tetap” pada
bagian ekuitas.
Analisis aset tetap yang dicatat pada nilai wajar Analysis of fixed assets carried at fair value by level of
berdasarkan tingkatan metode penilaian sebagai berikut: valuation method defines as follows:
- Tingkat 1 - Level 1
Harga kuotasian (tidak disesuaikan) dari pasar aktif Quoted price (unadjusted) in active markets for
untuk aset atau liabilitas yang identik. identical assets or liabilities.
Input selain harga kuotasian yang termasuk dalam Input other than quoted prices included within level 1
tingkat 1 yang dapat diobservasi untuk aset dan that are observable for asset and liabilities, either
liabilitas, baik secara langsung (yaitu sebagai suatu directly (that is as a price) or indirectly (derived from
harga) atau secara tidak langsung (sebagai turunan price).
dari harga).
Input untuk aset atau liabilitas yang tidak didasarkan Input for asset or liability that are not based on
pada data pasar yang dapat diobservasi (informasi observable market data (unobservable inputs).
yang tidak dapat diobservasi).

Revaluasi aset tetap (lanjutan) Revaluation fixed assets (continued)
Pengukuran nilai wajar pada 31 Desember 2020 dan 2019 menggunakan:/

Fair value measurement as at 31 December 2020 and 2019 using:
Tingkat 1/ Tingkat 2/ Tingkat 3/ Nilai wajar/
Level 1 Level 2 Level 3 Fair value
Pengukuran nilai wajar Recurring fair value
berulang measurement
Tanah - 2,999,053 - 2,999,053 Land
Bangunan - 1,428,057 - 1,428,057 Buildings
- 4,427,110 - 4,427,110
Pengukuran nilai wajar pada 31 Desember 2018 menggunakan:/

Fair value measurement as at 31 December 2018 using:
Tingkat 1/ Tingkat 2/ Tingkat 3/ Nilai wajar/
Level 1 Level 2 Level 3 Fair value
Pengukuran nilai wajar Recurring fair value
berulang measurement
Tanah - 2,699,090 - 2,699,090 Land
Bangunan - 1,218,553 - 1,218,553 Buildings
- 3,917,643 - 3,917,643
Nilai wajar tingkat 2 atas aset dihitung dengan Level 2 fair values of assets are calculated using the
menggunakan pendekatan perbandingan harga pasar dan comparable market data approach and cost reproduction
estimasi biaya reproduksi baru atau biaya pengganti baru. or cost replacement approach. The approximate market
Harga pasar aset yang paling mendekati disesuaikan prices of comparable assets are adjusted for differences
dengan perbedaan atribut utama seperti ukuran aset, in key attributes such as property size, location and use
lokasi dan penggunaan aset. Untuk kedua pendekatan di of an asset. For the two above approaches, the most
atas, input yang paling signifikan dalam pendekatan significant input into this valuation approach is price per
penilaian ini adalah asumsi harga per meter. square meter assumptions.
Tidak terdapat perpindahan antar tingkat selama tahun There were no transfers between levels during the year.
berjalan.
Jika tanah dan bangunan dicatat sebesar harga If land and buildings are presented on historical cost
perolehan, maka per 31 Desember 2020, 2019, dan 2018 basis, as of 31 December 2020, 2019, and 2018 the
dicatat dalam jumlah sebagai berikut: amount would be as follows:
2020 2019 2018
Tanah 535,599 529,371 510,574 Land
Bangunan 1,491,741 1,438,804 1,386,551 Buildings
Akumulasi penyusutan (1,062,257) (990,854) (919,451) Accumulated depreciation
Nilai buku 965,083 977,321 977,674 Net book amount

18. ASET TAKBERWUJUD 18. INTANGIBLE ASSETS

2020

January Additions Disposals Reclassification December 3,105,497
Aset takberwujud 2,597,714 97,955 (22) 321,732 3,017,379 Intangible asset
Aset dalam penyelesaian 507,783 174,052 - (321,732) 360,103 Assets in progress

3,105,497 272,007 (22) - 3,377,482
Akumulasi amortisasi Accumulated amortisation

Aset takberwujud 1,401,448 210,846 (22) - 1,612,272 Intangible asset
1,401,448 210,846 (22) - 1,612,272
2019

Aset takberwujud 2,384,623 74 (7,797) 220,814 2,597,714 Intangible asset

2,817,351 295,943 (7,797) - 3,105,497
Akumulasi amortisasi Accumulated amortisation

Aset takberwujud 1,221,073 185,828 (5,453) - 1,401,448 Intangible asset
1,221,073 185,828 (5,453) - 1,401,448
2018

Aset tidak berwujud 2,299,879 44,167 (3,922) 44,499 2,384,623 Intangible asset

2,558,339 262,934 (3,922) - 2,817,351
Akumulasi amortisasi Accumulated amortization

Aset tidak berwujud 1,018,074 204,685 (1,686) - 1,221,073 Intangible asset
1,018,074 204,685 (1,686) - 1,221,073
Seluruh aset takberwujud yang ada pada tanggal All of the intangible assets as at 31 December 2020, 2019,
31 Desember 2020, 2019, dan 2018 digunakan untuk and 2018 are fully used to support Bank CIMB Niaga’s
penunjang aktivitas operasi Bank CIMB Niaga. Beberapa operation activities. Several assets are fully amortised and
aset tersebut sudah diamortisasi penuh dan masih still used by Bank CIMB Niaga in its operation amounting
digunakan dalam operasi Bank CIMB Niaga sebesar to Rp 946,840 (2019: Rp 826,619; 2018: Rp 636,755).
Rp 946.840 (2019: Rp 826.619; 2018: Rp 636.755).
Aset dalam penyelesaian pada tanggal 31 Desember 2020 Assets in progress as at 31 December 2020 mainly
sebagian besar berkaitan dengan proyek aplikasi-aplikasi comprised of application related to banking system
banking system yang diperkirakan selesai di tahun 2021 applications project which are estimated to be completed in
sampai dengan 2022 dengan persentase penyelesaian 2021 until 2022 with current precentages of completion of
hingga saat ini adalah 70%-80%. 70%-80%.

19. ASET YANG DIAMBIL ALIH 19. FORECLOSED ASSETS
Agunan yang diambil alih untuk penyelesaian kredit dicatat Foreclosed assets in settlement of loans are included
dalam akun “Aset yang Diambil Alih” (AYDA). Rincian under “Foreclosed Assets” account. The details in this
dalam akun ini adalah: account are as follows:
2020 2019 2018
Aset yang diambil alih 437,558 180,861 385,240 Foreclosed assets

294,080 51,103 207,760
Berdasarkan PBI No. 14/15/PBI/2012 tanggal 24 Oktober Based on BI Regulation No. 14/15/PBI/2012 dated
2012 tentang Penilaian Kualitas Aktiva Bank Umum, 24 October 2012 regarding with Asset Quality Ratings for
khususnya AYDA, Bank CIMB Niaga diwajibkan untuk Commercial Banks and particularly on the foreclosed
melakukan upaya penyelesaian terhadap AYDA yang assets, Bank CIMB Niaga is required to have an action
dimiliki. plan for settlement of its foreclosed assets.
Mutasi cadangan kerugian penurunan nilai AYDA adalah: The changes in allowance for impairment losses of
foreclosed assets are as follows:
2020 2019 2018
Saldo awal 129,758 177,480 108,843 Beginning balance

Pembentukan/(pemulihan) selama tahun berjalan Impairment/(reversal) during the year
(lihat catatan 39) 44,192 (62,825) 38,772 (refer to Note 39)
(Penghapusan)/penerimaan kembali selama tahun berjalan (30,472) 15,103 29,865 (Write off)/recovery during the year
Saldo akhir 143,478 129,758 177,480 Ending balance
Manajemen berpendapat bahwa cadangan kerugian Management believes that the above allowance for
penurunan nilai yang telah dibentuk adalah cukup untuk impairment losses is adequate to cover possible losses on
menutup kemungkinan kerugian atas AYDA. foreclosed assets.
20. PENDAPATAN BUNGA YANG MASIH AKAN DITERIMA 20. ACCRUED INTEREST INCOME
2020 2019 2018
Piutang bunga dari kredit Interest receivable
yang diberikan 1,675,038 876,407 836,617 from loans
Piutang bunga dari Interest receivable from
penempatan pada bank lain dan placements with other banks and
Bank Indonesia, efek-efek, Obligasi Bank Indonesia, marketable securities,
Pemerintah dan efek-efek yang dibeli Government Bonds and securities
dengan janji dijual kembali 795,543 359,146 417,286 purchased under resale agreements
Lainnya 31,021 4,178 3,321 Others
2,501,602 1,239,731 1,257,224
Lainnya termasuk pendapatan sewa yang akan diterima Others included the sharia rent income to be received.
terkait syariah.

20. PENDAPATAN BUNGA YANG MASIH AKAN DITERIMA 20. ACCRUED INTEREST INCOME (continued)
(lanjutan)
Piutang bunga dari kredit yang diberikan merupakan Interest receivables from loans which are classified as pass
kolektibilitas lancar pada tanggal 31 Desember 2020 at 31 December 2020 are Rp 1,428,799 (2019: Rp 781,914;
adalah Rp 1.428.799 (2019: Rp 781.914; 2018: 2018: Rp 773,587) and as special mention at 31 December
Rp 773.587) dan kolektibilitas dalam perhatian khusus 2020 are Rp 246,239 (2019: Rp 94,493; 2018: Rp 63,030).
pada tanggal 31 Desember 2020 adalah Rp 246.239 Interest receivables from placements with other banks and
(2019: Rp 94.493; 2018: Rp 63.030). Piutang bunga dari Bank Indonesia, marketable securities, Government Bonds,
penempatan pada bank lain dan Bank Indonesia, efek- and securities purchased under resale agreements are
efek, Obligasi Pemerintah, dan efek-efek yang dibeli classified as pass at 31 December 2020 are Rp 791,624
dengan janji dijual kembali merupakan kolektibilitas lancar (2019: Rp 359,146; 2018: Rp 471,286) and as
pada tanggal 31 Desember 2020 adalah Rp 791.624 substandards are Rp 3,919 (2019 and 2018: nil).
(2019: Rp 359.146; 2018: Rp 471.286) dan kolektabilitas
kurang lancar adalah Rp 3.919 (2019 dan 2018: nihil).
21. BEBAN DIBAYAR DI MUKA 21. PREPAID EXPENSES
2020 2019 2018
Hadiah untuk nasabah 364,159 355,017 334,483 Gifts for customers

Beban ditangguhkan terkait pinjaman Deferred expense relating to
karyawan 126,871 108,354 158,658 employee loans
Pemeliharaan terkait hardware dan Maintenance of hardware and
software 163,362 277,702 37,470 software
Sewa 107,047 419,059 555,055 Rental
Insentif agen properti 99,184 68,982 58,551 Property agent incentives
Gedung, pemeliharaan dan renovasi 53,017 21,146 29,700 Building, maintenance and renovation
Promosi produk dan komunikasi 27,938 32,972 35,456 Promotion product and communication
Kepemilikan Saham (EOP) 21,476 23,733 23,677 Equity Ownership (EOP)
Premi asuransi 14,694 13,991 18,338 Insurance premium
Pembukaan cabang 5,374 4,381 5,374 Opening branches
Persediaan dan inventaris kantor 5,094 7,245 8,549 Inventory and office equipment
Perjalanan dinas 595 863 843 Office travelling
Kegiatan perusahaan 28 1,814 4,418 Office activity
Lainnya 35,793 38,205 23,812 Others
1,024,632 1,373,464 1,294,384
Beban di bayar di muka dari pihak berelasi diungkapkan Prepaid expenses with other banks from related parties
dalam Catatan 49. are disclosed in Notes 49.

22. ASET LAIN-LAIN 22. OTHER ASSETS

2020 2019 2018
Tagihan terkait dengan transaksi Receivables relating to ATM and
ATM dan kartu kredit 951,205 712,299 1,045,619 credit card transactions
Tagihan terkait dengan transaksi Receivables relating to
akseptasi pembiayaan sendiri 922,051 1,350,749 2,293,321 self financing acceptance
Tagihan terkait dengan transaksi Receivables relating to defaulted
derivatif gagal bayar 429,499 429,499 429,499 derivative transactions
Tagihan Anjak Piutang 172,661 606,110 881,414 Factoring
Setoran jaminan 45,423 53,237 56,275 Security deposits
Tagihan terkait dengan Receivables relating to
komisi asuransi 35,000 40,294 215,471 insurance commission
Properti terbengkalai 1,739 1,739 3,791 Abandoned properties
Tagihan atas penjualan efek-efek dan Obligasi Receivables related to the sale of marketable
Pemerintah dan Lainnya*) 1,895,400 760,453 259,798 securities and Government Bonds and Others*)
4,452,978 3,954,380 5,185,188
Dikurangi: Less:
Cadangan kerugian penurunan nilai Allowance for impairment losses
atas tagihan terkait transaksi on receivables related to
derivatif gagal bayar (429,499) (429,499) (429,499) defaulted derivatives transactions
Cadangan kerugian penurunan nilai Allowance for impairment losses
atas aset lainnya (14,814) (12,057) (10,802) on other assets
(444,313) (441,556) (440,301)
4,008,665 3,512,824 4,744,887
*) Lainnya termasuk tagihan kliring Others include receivable from clearing *)
Tagihan terkait dengan transaksi akseptasi pembiayaan Receivables relating to self financing acceptance
sendiri adalah tagihan kepada pihak ketiga yang belum represents receivable to third party that have not yet been
diterima pada tanggal 31 Desember 2020, 2019, dan 2018. received as at 31 December 2020, 2019, and 2018.
Atas tagihan terkait dengan transaksi derivatif gagal bayar, For receivables relating to defaulted derivative
Bank CIMB Niaga telah membentuk penyisihan penuh transactions, Bank CIMB Niaga has provided full allowance
untuk menutup kerugian yang mungkin timbul akibat tidak to cover the possible losses which may arise from failure to
tertagihnya tagihan tersebut. collect the receivables.
Properti terbengkalai merupakan aset tetap yang dimiliki The abandoned properties are fixed assets held by Bank
Bank CIMB Niaga tetapi tidak digunakan untuk kegiatan CIMB Niaga but not used for its customary banking
usaha perbankan yang lazim sesuai dengan PBI business based on PBI No. 14/15/PBI/2012 dated
No. 14/15/PBI/2012 tanggal 24 Oktober 2012 dan Surat 24 October 2012 and Circular Letter No. 7/3/DPNP dated
Edaran No. 7/3/DPNP tanggal 31 Januari 2005 dan 31 January 2005 and its changes Circular Letter
perubahannya Surat Edaran No. 15/28/DPNP tanggal No. 15/28/DPNP dated 31 July 2013 concerning on
31 Juli 2013 perihal Penilaian Kualitas Aset Bank Umum. Evaluation of Asset Quality in Commercial Bank.
Properti terbengkalai pada tanggal 31 Desember 2020 The abandoned properties as at 31 December 2020
terdiri atas tanah dan bangunan dengan nilai tercatat consist of land and buildings with carrying value amounted
adalah Rp 1.739 dan nihil (2019: Rp 1.739 dan nihil; 2018: to Rp 1,739 and nill, respectively (2019: Rp 1,739 and nill;
Rp 3.535 dan Rp 256). 2018: Rp 3,535 and Rp 256).
Manajemen berpendapat bahwa cadangan kerugian Management believes that the allowance for impairment
penurunan nilai yang dibentuk atas aset lain-lain telah losses on other assets is adequate.
memadai.

23. LIABILITAS SEGERA 23. OBLIGATIONS DUE IMMEDIATELY
2020 2019 2018

Titipan transfer 1,490,149 613,937 645,316 Transfer liabilities
Titipan Visa card 138,929 452,945 384,392 Visa card liabilities
Titipan merchant 131,893 109,778 100,888 Merchant liabilities
Titipan Master card 77,949 91,406 157,442 Master card liabilities
Titipan umum 77,719 31,171 107,966 General liabilities
Titipan personalia 226 6,629 9,277 Personnel related liabilities
Liabilitas atas pembelian efek-efek dan Liabilities related to the purchase of marketable
Obligasi pemerintah dan Lainnya 1,719,819 476,096 834,910 securities and Government Bonds and Others
3,636,684 1,781,962 2,240,191
24. SIMPANAN DARI NASABAH – GIRO 24. DEPOSITS FROM CUSTOMERS - DEMAND DEPOSITS
Berdasarkan mata uang, pihak berelasi, dan pihak By currency, related parties, and third parties
ketiga
2020 2019 2018
Pihak berelasi Related parties

Rupiah 109,000 72,450 82,356 Rupiah
Dolar Amerika Serikat 29,388 2,682 897 United States Dollar
138,388 75,132 83,253
Pihak ketiga Third parties
Rupiah 43,629,668 35,877,461 33,922,996 Rupiah
Mata uang asing lainnya 834,231 893,062 472,429 Other foreign currencies
55,724,159 48,868,781 45,773,898
55,862,547 48,943,913 45,857,151
Giro dari pihak berelasi diungkapkan dalam Catatan 49. Demand deposits from related parties are disclosed in
Informasi mengenai tingkat suku bunga dan jatuh tempo Note 49. Information in respect of interest rates and
diungkapkan pada Catatan 54 dan 56. maturities are disclosed in Notes 54 and 56.
Pada tanggal 31 Desember 2020, giro yang didasarkan As at 31 December 2020, demand deposits based on
pada prinsip perbankan syariah adalah Rp 3.670.478 sharia banking principles amounted to Rp 3,670,478
(2019: Rp 2.816.426; 2018: Rp 2.739.890). (2019: Rp 2,816,426; 2018: Rp 2,739,890).
Pada tanggal 31 Desember 2020, giro sebesar Rp 51.819 As at 31 December 2020, demand deposits amounted to
dijadikan jaminan atas kredit yang diberikan Bank Rp 51,819 was pledged as collateral for the loans granted
(2019: Rp 380.265; 2018: Nihil). by the Bank (2019: Rp 380,265; 2018: nil).
Terkait dengan ketentuan nilai penjaminan simpanan dari Related to the amount of deposit guaranteed regulation of
nasabah – giro, lihat Catatan 25. deposit from customer – demand deposits, refer to
Note 25.

25. SIMPANAN DARI NASABAH – TABUNGAN 25. DEPOSITS FROM CUSTOMERS - SAVING DEPOSITS
ketiga
2020 2019 2018

Rupiah 130,581 60,425 45,123 Rupiah
165,818 79,250 66,021

Rupiah 58,241,898 51,443,806 47,278,065 Rupiah
Mata uang asing lainnya 1,536,646 1,381,584 1,420,505 Other foreign currencies
67,695,551 59,236,819 54,429,862
67,861,369 59,316,069 54,495,883
Tabungan dari pihak berelasi diungkapkan dalam Saving deposits from related parties are disclosed in
Catatan 49. Informasi mengenai tingkat suku bunga dan jatuh Note 49. Information in respect of interest rates and
tempo diungkapkan pada Catatan 54 dan 56. maturities are disclosed in Notes 54 and 56.
Berdasarkan Undang-Undang No. 24 tentang Lembaga Based on Law No. 24 concerning the Indonesia Deposit
Penjaminan Simpanan (LPS) tanggal 22 September 2004, Insurance Agency (LPS) dated 22 September 2004,
efektif sejak tanggal 22 September 2005, sebagaimana effective on 22 September 2005, which was amended by
diubah dengan Undang-Undang No. 7 Tahun 2009 tanggal Law No. 7 Year 2009 dated 13 January 2009 regarding
13 Januari 2009 tentang Penetapan Peraturan Pemerintah with the Determination of Government Regulation as
Pengganti Undang-Undang No. 3 Tahun 2008, LPS dibentuk Substitution of Law No. 3 Year 2008, LPS was formed to
untuk menjamin liabilitas tertentu bank-bank umum guarantee certain liabilities of commercial banks under the
berdasarkan program penjaminan yang berlaku, yang applicable guarantee program, which the amount of
besaran nilai jaminannya dapat berubah jika memenuhi guarantee can be adjusted if meet certain criteria.
kriteria tertentu yang berlaku.
Pada tanggal 26 Februari 2018, terdapat penegasan As at 26 February 2018 there is latest confirmation by
terakhir berdasarkan surat edaran LPS No.3 tahun 2018 LPS’s Circular Letter No. 3 year 2018 concerning
terkait tingkat bunga penjaminan yang tidak mengalami guarantees interest rates which remains at 5.75% for
perubahan yaitu 5,75% untuk simpanan dalam rupiah dan deposits denominated in Rupiah and 0.75% for deposits
0,75% untuk simpanan dalam mata uang asing untuk denominated in foreign currency for period of 16 January
periode 16 Januari 2018 sampai 14 Mei 2018. 2018 to 14 May 2018.
Pada tanggal 15 Mei 2018, terdapat penegasan terakhir As at 15 May 2018 there is latest confirmation by LPS’s
berdasarkan Siaran Pers LPS No. Press-9/SEKL/V/2018 Circular Letter No. Press-9/SEKL/V/2018 year 2018
tahun 2018 terkait tingkat bunga penjaminan yang tidak concerning guarantees interest rates which remains at
mengalami perubahan yaitu 5,75% untuk simpanan dalam 5.75% for deposits denominated in Rupiah and 0.75% for
rupiah dan 0,75% untuk simpanan dalam mata uang asing deposits denominated in foreign currency for period of
untuk periode 15 Mei 2018 sampai 17 September 2018. 15 May 2018 to 17 September 2018.
Pada tanggal 4 Juni 2018 terdapat pembaharuan As at 4 June 2018 there is latest confirmation by LPS’s
berdasarkan surat edaran LPS No.7 tahun 2018 terkait Circular Letter No. 7 year 2018 concerning guarantees
dengan penyesuaian suku bunga yaitu 6,00% untuk interest rates which remains at 6.00% for deposits
simpanan dalam Rupiah dan 1,25% untuk simpanan dalam denominated in Rupiah and 1.25% for deposits
mata uang asing untuk periode 6 Juni 2018 sampai denominated in foreign currency for period of 6 June 2018
17 September 2018. to 17 September 2018.
Pada tanggal 16 Juli 2018 terdapat pembaharuan As at 16 July 2018 there is latest confirmation by LPS’s
berdasarkan surat edaran LPS No.9 tahun 2018 terkait Circular Letter No. 9 year 2018 concerning guarantees
dengan penyesuaian suku bunga yaitu 6,00% untuk interest rates which remains at 6.00% for deposits
simpanan dalam Rupiah dan 1,50% untuk simpanan dalam denominated in Rupiah and 1.50% for deposits
mata uang asing untuk periode 18 Juli 2018 sampai denominated in foreign currency for period of 18 July 2018
17 September 2018. to 17 September 2018.

25. SIMPANAN DARI NASABAH – TABUNGAN (lanjutan) 25. DEPOSITS FROM CUSTOMERS - SAVING DEPOSITS
(continued)
ketiga (lanjutan) (continued)
Pada tanggal 10 September 2018, terdapat pembaharuan As at 10 September 2018, there is revision by LPS’s
berdasarkan surat edaran LPS No.13 tahun 2018 terkait Circular Letter No. 13 year 2018 related with adjustment of
dengan penyesuaian suku bunga yaitu 6,50% untuk interest rate which is 6.50% for deposits denominated in
simpanan dalam Rupiah dan 2,00% untuk simpanan dalam Rupiah and 2.00% for deposits denominated in foreign
mata uang asing untuk periode 13 September 2018 sampai currency for period of 13 September 2018 to 12 January
12 Januari 2019. 2019.
Pada tanggal 29 Oktober 2018, terdapat pembaharuan As at 29 October 2018, there is revision by LPS’s Circular
berdasarkan surat edaran LPS No.16 tahun 2018 terkait Letter No. 16 year 2018 related with adjustment of interest
dengan penyesuaian suku bunga yaitu 6,75% untuk rate which is 6.75% for deposits denominated in Rupiah
simpanan dalam Rupiah dan 2,00% untuk simpanan dalam and 2.00% for deposits denominated in foreign currency for
mata uang asing untuk periode 31 Oktober 2018 sampai period of 31 October 2018 to 12 January 2019.
12 Januari 2019.
Pada tanggal 9 Januari 2019, terdapat pembaharuan As at 9 January 2019, there is revision by LPS’s Circular
berdasarkan surat edaran LPS No.1 tahun 2019 terkait Letter No. 1 year 2019 related with adjustment of interest
dengan penyesuaian suku bunga yaitu 7,00% untuk rate which is 7.00% for deposits denominated in Rupiah
simpanan dalam Rupiah dan 2,25% untuk simpanan dalam and 2.25% for deposits denominated in foreign currency for
mata uang asing untuk periode 13 Januari 2019 sampai period of 13 January 2019 to 14 May 2019.
14 Mei 2019.
Pada tanggal 13 Mei 2019, terdapat pembaharuan bunga As at 13 May 2019, there is revision by LPS through
penjaminan untuk simpanan di Bank Umum berdasarkan Circular Letter No.9 year 2019 with the adjustment of
surat edaran LPS No.9 tahun 2019, penyesuaian suku bunga guaranteed rate for saving in Commercial Bank to be
penjaminan tersebut yaitu 7,00% untuk simpanan dalam 7.00% for rupiah denominated saving and 2.25% for
Rupiah dan 2,25% untuk simpanan dalam mata uang asing foreign currencies denominated saving for period 15 May
untuk periode 15 Mei 2019 sampai 25 September 2019. 2019 to 25 September 2019.
Pada tanggal 23 September 2019, terdapat pembaharuan As at 23 September 2019, there is revision by LPS through
tingkat bunga penjaminan untuk simpanan di Bank Umum Circular Letter No.17/2019 with the adjustment of
berdasarkan surat edaran LPS No.17/2019, penyesuaian guaranteed rate for saving in Commercial Bank to be 6.50%
suku bunga penjaminan tersebut yaitu 6,50% untuk simpanan for rupiah denominated saving and 2.00% for foreign
dalam Rupiah dan 2,00% untuk simpanan dalam mata uang currencies denominated saving for period 26 September
asing untuk periode 26 September 2019 sampai 24 Januari 2019 to 24 January 2020.
2020.
Pada tanggal 19 Desember 2019, terdapat pembaharuan As at 19 December 2019, there is revision by LPS through
tingkat bunga penjaminan untuk simpanan di Bank Umum Circular Letter No.23 year 2019 with the adjustment of
berdasarkan surat edaran LPS No.23 tahun 2019, guaranteed rate for saving in Commercial Bank to be
penyesuaian suku bunga penjaminan tersebut yaitu 6,25% 6.25% for rupiah denominated saving and 1.75% for foreign
untuk simpanan dalam Rupiah dan 1,75% untuk simpanan currencies denominated saving for period 20 November
dalam mata uang asing untuk periode 20 November 2019 2019 to 24 January 2020.
sampai 24 Januari 2020.
Pada tanggal 24 Januari 2020, terdapat pembaharuan tingkat As at 24 January 2020, there is revision by LPS through
bunga penjaminan untuk simpanan di Bank Umum Circular Letter No.1 year 2020 with the adjustment of
penyesuaian suku bunga penjaminan tersebut yaitu 6,00% 6.00% for rupiah denominated saving and 1.75% for
untuk simpanan dalam Rupiah dan 1,75% untuk simpanan foreign currencies denominated saving for period
dalam mata uang asing untuk periode 25 Januari 2020 25 January 2020 to 29 May 2020.
sampai 29 Mei 2020.

25. SIMPANAN DARI NASABAH – TABUNGAN (lanjutan) 25. DEPOSITS FROM CUSTOMERS - SAVING DEPOSITS
(continued)
ketiga (lanjutan) (continued)
Pada tanggal 24 Maret 2020, terdapat pembaharuan tingkat As at 24 March 2020, there is revision by LPS through
untuk simpanan dalam Rupiah dan 1,75% untuk simpanan foreign currencies denominated saving for period 26 March
dalam mata uang asing untuk periode 26 Maret 2020 sampai 2020 to 29 May 2020.
29 Mei 2020.
Pada tanggal 28 Mei 2020, terdapat pembaharuan tingkat As at 28 May 2020, there is revision by LPS through
untuk simpanan dalam Rupiah dan 1,50% untuk simpanan foreign currencies denominated saving for period 30 May
dalam mata uang asing untuk periode 30 Mei 2020 sampai 2020 to 30 September 2020.
30 September 2020.
Pada tanggal 28 Juli 2020, terdapat pembaharuan tingkat As at 28 July 2020, there is revision by LPS through
untuk simpanan dalam Rupiah dan 1,50% untuk simpanan foreign currencies denominated saving for period 30 July
dalam mata uang asing untuk periode 30 Juli 2020 sampai 2020 to 30 September 2020.
30 September 2020.
Pada tanggal 29 September 2020, terdapat pembaharuan As at 29 September 2020, there is revision by LPS
tingkat bunga penjaminan untuk simpanan di Bank Umum through Circular Letter No.17 year 2020, with the
berdasarkan surat edaran LPS No.17 tahun 2020, adjustment of guaranteed rate for saving in Commercial
penyesuaian suku bunga penjaminan tersebut yaitu 5,00% Bank to be 5.00% for rupiah denominated saving and
untuk simpanan dalam Rupiah dan 1,25% untuk simpanan 1.25% for foreign currencies denominated saving for
dalam mata uang asing untuk periode 1 Oktober 2020 period 1 October 2020 to 29 January 2021.
Pada tanggal 24 November 2020, terdapat pembaharuan As at 24 November 2020, there is revision by LPS through
tingkat bunga penjaminan untuk simpanan di Bank Umum Circular Letter No.21 year 2020, with the adjustment of
untuk simpanan dalam Rupiah dan 1,00% untuk simpanan foreign currencies denominated saving for period
dalam mata uang asing untuk periode 25 November 2020 25 November 2020 to 29 January 2021.
Pada tanggal 31 Desember 2020, tabungan didasarkan As at 31 December 2020, saving deposits based on sharia
pada prinsip perbankan syariah adalah Rp 10.474.716 banking principles amounted to Rp 10,474,716
(2019: Rp 7.378.962; 2018: Rp 5.657.698). (2019: Rp 7,378,962; 2018: Rp 5,657,698).
Pada tanggal 31 Desember 2020, tabungan sebesar As at 31 December 2020, saving deposits amounted to
Rp 232.407 dijadikan jaminan atas kredit yang diberikan Rp 232,407 was pledged as collateral for the loans granted
Bank (2019: Rp 311.985; 2018: Rp 267.016). by the Bank (2019: Rp 311,985: 2018: Rp 267,016).

26. SIMPANAN DARI NASABAH - DEPOSITO BERJANGKA 26. DEPOSITS FROM CUSTOMERS - TIME DEPOSITS
a. Berdasarkan mata uang, pihak berelasi, dan pihak a. By currency, related parties, and third parties
ketiga
2020 2019 2018

Rupiah 53,988 112,809 82,063 Rupiah
Mata uang asing lainnya 1,251 779 - Other foreign currencies
57,561 199,580 87,503

Rupiah 71,099,101 70,807,550 70,564,482 Rupiah
83,747,947 87,140,738 90,309,681
83,805,508 87,340,318 90,397,184
b. Berdasarkan jangka waktu kontrak b. By period of contract

2020 2019 2018
< 1 bulan 5,397,323 7,911,556 13,714,166 < 1 month

> 1 - < 3 bulan 30,911,303 30,373,167 43,168,955 > 1 - < 3 months
> 3 - < 6 bulan 19,286,415 23,787,943 10,777,700 > 3 - < 6 months
> 6 - < 12 bulan 13,431,388 6,331,123 5,911,452 > 6 - < 12 months
> 12 bulan 14,779,079 18,936,529 16,824,911 > 12 months
83,805,508 87,340,318 90,397,184
c. Berdasarkan jatuh tempo c. By maturity

2020 2019 2018
< 1 bulan 43,058,007 43,617,096 52,857,395 < 1 month
> 1 - < 3 bulan 21,752,005 23,044,814 18,729,806 > 1 - < 3 months
> 3 - < 12 bulan 9,845,945 12,507,748 9,579,569 > 3 - < 12 months
> 1 - < 5 tahun 8,822,196 7,925,757 9,191,582 > 1 - < 5 years
> 5 tahun 327,355 244,903 38,832 > 5 years
83,805,508 87,340,318 90,397,184
Deposito berjangka dari pihak berelasi diungkapkan dalam Time deposits from related parties are disclosed in
Catatan 49. Informasi mengenai tingkat suku bunga dan Note 49. Information in respect to interest rates and
jatuh tempo diungkapkan pada Catatan 54 dan 56. maturities are disclosed in Notes 54 and 56.
Pada tanggal 31 Desember 2020, deposito berjangka As at 31 December 2020, time deposits based on sharia
berdasarkan prinsip perbankan syariah adalah banking principles amounted to Rp 15,680,076
Rp 15.680.076 (2019: Rp 22.389.967; 2018: (2019: Rp 22,389,967; 2018: Rp 15,308,900).
Rp 15.308.900).
Pada tanggal 31 Desember 2020, deposito berjangka As at 31 December 2020, time deposits amounting to
sebesar Rp 5.107.307 dijadikan jaminan kredit yang Rp 5,107,307 was pledged as collateral for the loans
diberikan Bank CIMB Niaga (2019: Rp 10.561.708; 2018: granted by Bank CIMB Niaga (2019: Rp 10,561,708;
Rp 4.873.414). 2018: Rp 4,873,414).
Terkait dengan ketentuan nilai penjaminan simpanan dari Related to the amount of deposit guaranteed regulation of
nasabah – deposito berjangka, lihat Catatan 25. deposit from customer – time deposits, refer to
Note 25.

27. SIMPANAN DARI BANK LAIN – GIRO DAN TABUNGAN 27. DEPOSITS FROM OTHER BANKS – DEMAND AND
SAVING DEPOSITS
Berdasarkan jenis dan mata uang By type and currency
2020 2019 2018
Giro Demand deposits
Rupiah 996,215 681,269 1,036,041 Rupiah
1,305,565 1,083,668 1,422,776
Tabungan Saving deposits

Rupiah 8,252 15,977 17,114 Rupiah
1,313,817 1,099,645 1,439,890
Pada tanggal 31 Desember 2020, giro dari pihak berelasi As at 31 December 2020, demand deposits from related
adalah Rp 169.554 (2019: Rp 83.305; 2018: Rp 87.845) parties amounted to Rp 169,554 (2019: Rp 83,305; 2018:
(lihat Catatan 49). Rp 87,845) (refer to Note 49).
Pada tanggal 31 Desember 2020, 2019, dan 2018 tidak As at 31 December 2020, 2019, and 2018 there were no
terdapat simpanan dari bank lain – giro dan tabungan yang deposits from other banks – demand and saving deposits
dijadikan jaminan atas kredit yang diberikan Bank. pledged as collateral for the loans granted by the Bank.
28. SIMPANAN DARI BANK LAIN – INTER-BANK CALL 28. DEPOSITS FROM OTHER BANKS – INTER-BANK CALL
MONEY DAN DEPOSITO BERJANGKAALNEY MONEY AND TIME DEPOSITS ER-BANK CALL MONEY
a. Berdasarkan mata uang a. By currency
2020 2019 2018
Inter-bank Call Money Inter-bank Call Money
Rupiah - - 1,315,000 Rupiah
Dolar Amerika Serikat 1,264,500 - - United States Dollar
1,264,500 - 1,315,000
Deposito Berjangka Time Deposits

Rupiah 323,160 264,863 173,723 Rupiah
Dolar Amerika Serikat 79 78 80 United States Dollar
323,239 264,941 173,803
1,587,739 264,941 1,488,803
b. Berdasarkan jangka waktu kontrak b. By contract period

2020 2019 2018
< 1 bulan 1,271,840 1,301 52,542 < 1 month
> 1 - < 3 bulan 29,526 126,850 1,341,795 > 1 - < 3 months
> 3 - < 6 bulan 2,080 5,570 600 > 3 - < 6 months
> 6 - < 12 bulan 10,927 3,268 635 > 6 - < 12 months
> 12 bulan 273,366 127,952 93,231 > 12 months
1,587,739 264,941 1,488,803
Pada tanggal 31 Desember 2020, 2019, dan 2018, tidak As at 31 December 2020, 2019, and 2018, there were no
terdapat saldo simpanan dari bank lain - inter-bank call deposits from other banks - inter-bank call money and time
money dan deposito berjangka dari pihak berelasi. deposits from related party.
Informasi mengenai tingkat suku bunga dan jatuh tempo Information in respect to interest rate and maturity is
diungkapkan pada Catatan 54 dan 56. disclosed in Notes 54 and 56.
Pada tanggal 31 Desember 2020, 2019, dan 2018, tidak As at 31 December 2020, 2019, and 2018, there were no
terdapat simpanan dari bank lain – inter-bank call money deposits from other banks – inter-bank call money and time
dan deposito berjangka yang dijadikan jaminan atas kredit deposits pledged as loans collateral.
yang diberikan.

29. EFEK-EFEK YANG DITERBITKAN 29. MARKETABLE SECURITIES ISSUED
2020 2019 2018
Obligasi Berkelanjutan II Bank CIMB Niaga The Continuous Bonds II of Bank CIMB
Tahap I Tahun 2016 dengan Tingkat Niaga Phase I Year 2016 with Fixed
Suku Bunga Tetap (lihat Catatan 1c) Interest Rate (see Note 1c)
Seri B - - 386,000 Series B
Seri C 182,000 182,000 182,000 Series C
182,000 182,000 568,000
Tahap II Tahun 2017 dengan Tingkat Niaga Phase II Year 2017 with Fixed
Seri B - 376,000 376,000 Series B
Seri C 822,000 822,000 822,000 Series C
822,000 1,198,000 1,198,000
Tahap III Tahun 2017 dengan Tingkat Niaga Phase III Year 2017 with Fixed
Seri B - 657,000 657,000 Series B
Seri C 843,000 843,000 843,000 Series C
843,000 1,500,000 1,500,000
Tahap IV Tahun 2018 dengan Tingkat Niaga Phase IV Year 2018 with Fixed
Seri A - - 766,000 Series A
Seri B 137,000 137,000 137,000 Series B
Seri C 118,000 118,000 118,000 Series C
255,000 255,000 1,021,000
Sukuk Mudharabah Berkelanjutan I Bank CIMB Niaga The Continuous Sukuk Mudharabah I
Tahap I Tahun 2018 (lihat Catatan 1c) of Bank CIMB Niaga Phase I Year 2018 (see Note 1c)
Seri A - - 441,000 Series A
Seri B 559,000 559,000 559,000 Series B
559,000 559,000 1,000,000
Tahap II Tahun 2019 (lihat Catatan 1c) of Bank CIMB Niaga Phase II Year 2019 (see Note 1c)
Seri A - 635,000 - Series A
Seri B 936,000 936,000 - Series B
Seri C 429,000 429,000 - Series C
1,365,000 2,000,000 -
Obligasi Berkelanjutan III Bank CIMB Niaga The Continuous Bonds III of Bank CIMB
Tahap I Tahun 2019 dengan Tingkat Niaga Phase I Year 2019 with Fixed
Seri A - 276,000 - Series A
Seri B 1,066,000 1,066,000 - Series B
Seri C 481,000 481,000 - Series C
1,547,000 1,823,000 -
Tahap III Tahun 2020 (lihat Catatan 1c) of Bank CIMB Niaga Phase III Year 2020 (see Note 1c)
Seri A 322,000 - - Series A
Seri B 287,000 - - Series B
Seri C 391,000 - - Series C
1,000,000 - -
Jumlah 6,573,000 7,517,000 5,287,000 Total

Dikurangi : Less:
Biaya emisi obligasi yang belum diamortisasi (7,396) (13,888) (17,243) Unamortised bond issuance costs

29. EFEK-EFEK YANG DITERBITKAN (lanjutan) 29. MARKETABLE SECURITIES ISSUED (continued)
Informasi mengenai tingkat suku bunga dan jatuh tempo Information in respect to interest rate and maturity is
diungkapkan pada Catatan 54 dan 56. disclosed in Notes 54 and 56.
Transaksi lindung nilai Hedge transactions
Tidak terdapat transaksi lindung nilai per 31 Desember There was no hedging transaction as of 31 December 2020,
2020, 2019, dan 2018. 2019, and 2018.
30. PINJAMAN YANG DITERIMA 30. BORROWINGS
2020 2019 2018

Rupiah Rupiah
Bank lain 933,433 1,288,224 370,877 Other banks
Bank lain - 1,358,789 1,825,039 Other Banks
933,433 2,647,013 2,195,916
2020 2019 2018

Rupiah Rupiah
PT Bank Pan Indonesia Tbk 480,752 306,099 195,411 PT Bank Pan Indonesia Tbk
PT Bank Mandiri (Persero) Tbk 193,370 319,978 19,957 PT Bank Mandiri (Persero) Tbk
PT Bank BCA Syariah 156,000 128,989 21,349 PT Bank BCA Syariah
PT Bank Pembangunan Daerah PT Bank Pembangunan Daerah
Jawa Barat dan Banten Tbk 60,322 350,000 - Jawa Barat dan Banten Tbk
PT Bank Permata Tbk 42,989 - - PT Bank Permata Tbk
PT Bank OCBC NISP Tbk - 79,885 - PT Bank OCBC NISP Tbk
PT Bank HSBC Indonesia - 79,885 - PT Bank HSBC Indonesia
PT Bank DKI, unit Syariah - 23,388 34,160 PT Bank DKI, Sharia Unit
PT Bank BTPN Syariah Tbk - - 100,000 PT Bank BTPN Syariah Tbk
933,433 1,288,224 370,877

CIMB Bank Berhad - - 191,722 CIMB Bank Berhad
- - 191,722
Standard Chartered Bank - 652,478 - Standard Chartered Bank
Bank of America - 555,300 143,799 Bank of America
PT Bank Rakyat Indonesia (Persero) Tbk - 111,060 - PT Bank Rakyat Indonesia (Persero) Tbk
Bank of New York, NY - 31,363 587,727 Bank of New York, NY
Wells Fargo Bank NA, New York - 8,588 598,076 Wells Fargo Bank NA, New York
Citibank New York - - 303,715 Citibank New York
- 1,358,789 1,633,317
- 1,358,789 1,825,039
933,433 2,647,013 2,195,916

30. PINJAMAN YANG DITERIMA (lanjutan) 30. BORROWINGS (continued)
Pinjaman pihak ketiga sebagian besar merupakan Third parties borrowings mostly represent borrowings
pinjaman yang diterima Entitas Anak dalam menjalankan received by Subsidiary to finance their business.
bisnisnya. Pinjaman tersebut akan jatuh tempo pada The borrowing will be matured in the years between 2021 -
berbagai tahun antara 2021 - 2023. Tingkat suku bunga 2023. The annual interest rates for the year period ended
per tahun untuk fasilitas tersebut untuk tahun yang 31 December 2020 ranged between 5.80% - 9.50%
berakhir 31 Desember 2020 berkisar antara 5,80% - (2019: 6.30% - 9.50%; 2018: 8.50% - 9.50%).
9,50% (2019: 6,30% - 9,50%; 2018: 8,50% - 9,50%).
Seluruh pinjaman di atas digunakan untuk pembiayaan All the borrowings above are used for financing of four
kendaraan roda empat, baik dalam kondisi baru atau wheelers, either new or used and for new two wheelers.
bekas dan roda dua dalam kondisi baru.
PT Bank Pan Indonesia Tbk PT Bank Pan Indonesia Tbk
Selama tahun yang berakhir 31 Desember 2020, Entitas During the year ended 31 December 2020, Subsidiary has
Anak telah melakukan pembayaran pokok pinjaman paid the principle to PT Bank Pan Indonesia Tbk
kepada PT Bank Pan Indonesia Tbk dengan nominal amounting to Rp 240,038 (2019: Rp 239,293; 2018: Rp
sebesar Rp 240.038 (2019: Rp 239.293; 2018: 333,333). This borrowing will be matured on 27 March
Rp 333.333). Pinjaman ini akan jatuh tempo pada tanggal 2023.
27 Maret 2023.
Pinjaman ini mensyaratkan Entitas Anak diantaranya This loan requires the Subsidiary including:
untuk:
- Menjaga rasio hutang terhadap ekuitas sebesar 8:1; - Maintain the debt to equity ratio of 8:1;
- Menjaga jumlah piutang pembiayaan bermasalah yang - Maintain the non performing financing receivable which
memiliki tunggakan lebih dari 90 hari maksimal has outstanding days of more than 90 days by maximum
sebanyak 3% dari total piutang pembiayaan; dan of 3% from total financing receivable; and
- Bank CIMB Niaga sebagai Entitas Induk wajib - Bank CIMB Niaga as Parent Entity must keep their
menjaga kepemilikannya di Entitas Anak baik secara ownership in the Subsidiary either directly or indirectly of
langsung maupun tidak langsung sebesar 51% dari 51% ownership from total paid in capital of the
total modal disetor Entitas Anak. Subsidiary.
Entitas Anak telah memenuhi pembatasan-pembatasan The Subsidiary has fulfilled the debt covenants
yang diwajibkan dalam perjanjian pinjaman yang diterima. requirement outlined in borrowing agreements.
PT Bank Mandiri (Persero) Tbk PT Bank Mandiri (Persero) Tbk
Anak telah melakukan pembayaran pokok pinjaman paid the principle to PT Bank Mandiri (Persero) Tbk
kepada PT Bank Mandiri (Persero) Tbk dengan nominal amounting to Rp 226,768 (2019: Rp 24,560; 2018: Rp
sebesar Rp. 226.768 (2019: Rp 24.560; 2018: 299,266). This borrowing will be matured on 24 September
Rp 299.266). Pinjaman ini akan jatuh tempo pada tanggal 2022.
24 September 2022.

PT Bank Mandiri (Persero) Tbk (lanjutan) PT Bank Mandiri (Persero) Tbk (continued)
untuk:
- Menjaga gearing ratio maksimal sebesar 8 kali; dan - Maintain the gearing ratio maximum of 8 times; and
- Selama pinjaman yang diterima berlangsung, Entitas - During the borrowings outstanding, the Subsidiary
Anak harus memberitahukan secara tertulis kepada must notify Bank Mandiri in written for:
Bank Mandiri atas:
• Perubahan anggaran dasar Entitas Anak termasuk di • Amendment to the articles of association of the
dalamnya pemegang saham mayoritas (lebih dari Subsidiary including majority shareholders (more
50% jumlah kepemilikan saham), pengurus than 50% of the total share ownership),
perusahaan, permodalan dan nilai saham; management, capital and share value;
• Memperoleh fasilitas kredit atau pinjaman dari pihak • Obtaining credit facilities or loan from other
lain kecuali dalam rangka mendukung kegiatan parties except in the context of supporting the
usaha Entitas Anak yang normal dan transaksi business activities of normal business and fair
wajar; transaction of the Subsidiary;
• Mengikatkan diri sebagi penjamin hutang atau • Binding themselves as a guarantor of debt or
menjaminkan harta kekayaan untuk pihak lain, pledging assets for other parties, except in the
kecuali dalam rangka pendanaan untuk mendukung context of funding to support the business
kegiatan usaha Entitas Anak; activities of the Subsidiary;
• Melunasi hutang Entitas Anak kepada pemilik/ • Paying off the loan of the Subsidiary to the
pemegang saham mayoritas; dan owner/majority shareholders; and
• Melakukan peleburan usaha/akuisisi. • Conducting merger/acquisition.
PT Bank BCA Syariah PT Bank BCA Syariah

Selama tahun yang berakhir 31 Desember 2020, Entitas During the year ended 31 December 2020, Subsidiary
Anak telah melakukan pembayaran pokok pinjaman has paid the principle to PT Bank BCA Syariah
kepada PT Bank BCA Syariah dengan nominal sebesar amounting to Rp 72,989 (2019: Rp 42,186; 2018: Rp
Rp 72.989 (2019: Rp 42.186; 2018: Rp 22.964). Pinjaman 22,964). This borrowing will be matured on 27 July 2023.
ini akan jatuh tempo pada tanggal 27 Juli 2023.
untuk:
- Menjaga gearing ratio maksimal sebesar 8 kali; dan - Maintain the gearing ratio maximum of 8 times; and
- Menjaga jumlah piutang pembiayaan bermasalah yang - Maintain the non performaning financing receivable
memiliki tunggakan lebih dari 30 hari maksimal which has outstanding days of more than 30 days by
sebanyak 5% dari total piutang pembiayaan. maximum of 5% from total financing receivable.


PT Bank Pembangunan Daerah Jawa Barat dan Banten PT Bank Pembangunan Daerah Jawa Barat dan Banten
Tbk Tbk
Anak telah melakukan pembayaran pokok pinjaman paid the principle to PT Bank Pembangunan Daerah Jawa
kepada PT Bank Pembangunan Daerah Jawa Barat dan Barat dan Banten (Bank BJB) Tbk amounting to Rp 14,583
Banten (Bank BJB) Tbk dengan nominal sebesar (2019 and 2018: Rp nihil). This borrowing will be matured
Rp 14.583 (2019 dan 2018: Rp nihil). Pinjaman ini akan on 27 July 2023.
jatuh tempo pada tanggal 27 Juli 2023.
untuk:
menjaga kepemilikannya di Entitas Anak minimum ownership in the subsidiary with minimum of 51%;
sebesar 51%;
- Memberitahukan kepada Bank BJB maksimal 14 hari - Notify Bank BJB by a maximum 14 calender days if
kalender jika CNAF membagikan deviden lebih dari CNAF distributes dividends more than 50% of net
50% dari laba bersih; income;
- Piutang pembiayaan yang dijadikan jaminan kepada - Finance receivable which pledged as collateral to
Bank BJB maksimal memiliki hari tunggakan dibawah Bank BJB has outstanding days of at the maximum 30
30 hari; dan days; and
- Menjaga jumlah piutang pembiayaan bermasalah yang - Maintain the non performing financing receivable
memiliki tunggakan lebih dari 90 hari maksimal which has outstanding days of more than 90 days by a
sebanyak 3% dari total piutang pembiayaan atau maximum of 3% from total financing recivable or as
sesuai ketentuan otoritas. required by the authority.
PT Bank Permata Tbk PT Bank Permata Tbk

Anak telah melakukan pembayaran pokok pinjaman paid the principle to PT Bank Permata Tbk amounting to
kepada PT Bank Permata Tbk dengan nominal sebesar Rp 56,944 (2019 and 2018: Rp nil). This borrowing will be
Rp 56.944 (2019 dan 2018: Rp nihil). Pinjaman ini akan matured on 30 July 2023.
jatuh tempo pada tanggal 30 Juli 2023.
untuk:
- Menjaga gearing ratio maksimal sebesar 8 kali; - Maintain the gearing ratio maximum of 8 times;
memiliki tunggakan lebih dari 30 hari maksimal which has outstanding days of more than 30 days by
sebanyak 5% dari total piutang pembiayaan dan maximum of 5% from total financing receivable and
tunggakan lebih dari 90 hari maksimal sebanyak 2% outstanding days of more than 90 days by maximum
dari total piutang pembiayaan; dan of 2% from total financing receivable; and
menjaga kepemilikannya di Entitas Anak baik secara ownership in the Subsidiary either directly or indirectly
langsung maupun tidak langsung sebesar 51% dari of 51% ownership from total paid in capital of the
total modal disetor Entitas Anak. Subsidiary.

PT Bank OCBC NISP Tbk Bank OCBC NISP Tbk

Anak telah melakukan pembayaran pokok pinjaman paid the principle to PT Bank OCBC NISP Tbk amounting
kepada PT Bank OCBC NISP Tbk sebesar Rp 80.000 to Rp 80,000 (2019: nil; 2018: Rp 103,517). This borrowing
(2019: nihil; 2018: Rp 103.517). Pinjaman ini jatuh tempo matured on 7 October 2020.
pada tanggal 7 Oktober 2020.
untuk:
- Menjaga gearing ratio maksimal sebesar 8 kali; - Maintain the gearing ratio maximum of 8 times;
memiliki tunggakan lebih dari 60 hari maksimal which has outstanding days of more than 60 days by a
sebanyak 3% dari total piutang pembiayaan atau maximum of 3% from total financing receivable or as
sesuai ketentuan otoritas; required by the authority;
- Menjaga saldo current account saving account (CASA) - Maintain minimum balance of current account saving
minimal sebesar Rp 5.000; dan account (CASA) of Rp 5,000; and
- Bank CIMB Niaga sebagai entitas induk wajib menjaga - Bank CIMB Niaga as parent entity must keep their
kepemilikannya di entitas anak minimum sebesar 51%. ownership in the subsidiary with minimum of 51%.
PT Bank DKI, unit Syariah PT Bank DKI, Sharia unit

Anak telah melakukan pembayaran pokok pinjaman paid the principle to PT Bank DKI, Sharia unit amounting
kepada PT Bank DKI, unit Syariah dengan nominal to Rp 23,430 (2019: Rp 23,807; 2018: Rp 764). This
sebesar Rp 23.430 (2019: Rp 23.807; 2018: Rp 764). borrowing matured on 25 October 2020.
Pinjaman ini jatuh tempo pada tanggal 25 Oktober 2020.
untuk:
menjaga kepemilikannya di entitas anak minimum ownership in the Subsidiary with minimum of 51%; and
sebesar 51%; dan
- Piutang pembiayaan yang dijadikan jaminan kepada - Financing receivable which pledged as collateral to
Bank DKI, Unit Syariah maksimal memiliki hari Bank DKI, Sharia unit has outstanding days of at the
tunggakan sebanyak 20 hari.Menjaga gearing ratio maximum 20 days.Maintain the gearing ratio
sebesar 10 kali. maximum of 10 times.

PT Bank HSBC Indonesia PT Bank HSBC Indonesia

Anak telah melakukan pembayaran pokok pinjaman paid the principle to PT Bank HSBC Indonesia amounting
kepada PT Bank HSBC Indonesia dengan nominal sebesar to Rp 95,000 (2019 and 2018: Rp nil).
Rp 95.000 (2019 dan 2018: Rp nihil).
untuk: - Menjaga gearing ratio maksimal sebesar 10
kali; - Maintain the gearing ratio maximum of 10 times;
- Menjaga jumlah piutang pembiayaan bermasalah - Maintain the non performing financing receivable
maksimal sebanyak 5% dari total piutang pembiayaan maximum of 5% from total financing receivable or as
atau sesuai ketentuan otoritas; required by the authority;
- Menjaga total piutang pembiayaan terhadap total aset - Maintain total financing receivable to total asset
minimal sebesar 50%; dan minimum of 50%; and
- Piutang pembiayaan yang dijadikan jaminan kepada - Financing receivable which pledged as collateral to
Bank HSBC maksimal memiliki hari tunggakan Bank HSBC has outstanding days of at the maximum
sebanyak 30 hari. 30 days.
Informasi mengenai tingkat suku bunga dan saat jatuh Information in respect to interest rate and maturity is
tempo diungkapkan pada Catatan 54 dan 56. disclosed in Notes 54 and 56.
Mata uang Asing – Pihak berelasi Foreign currency – Related parties
CIMB Bank Berhad CIMB Bank Berhad

Pinjaman yang diterima Bank CIMB Niaga dari CIMB Bank Borrowing obtained by Bank CIMB Niaga from CIMB
Berhad mempunyai plafon sebesar USD 200 juta. Pada Bank Berhad has plafond of USD 200 million. As at
tanggal 31 Desember 2020, saldo pinjaman adalah nihil 31 December 2020, the borrowing balance amounted to
(2019: USD nihil; 2018: USD 13,33 juta). Pinjaman ini Rp nil (2019: USD nil; 2018: USD13.33 million). This
telah jatuh tempo pada tanggal 29 Maret 2019. Tingkat borrowing matured on 29 March 2019. The annual interest
suku bunga per tahun untuk tahun yang berakhir rate for the year ended 31 December 2019 and 2018 was
31 Desember 2019 dan 2018 adalah 3,34%. 3.34%.
Pinjaman ini untuk diberikan kepada nasabah yang The borrowings are to be provided to borrowers who
membutuhkan pembiayaan proyek. Pinjaman ini need project financing. The borrowing requires Bank CIMB
mensyaratkan Bank CIMB Niaga untuk tidak menjual aset Niaga not to sell or dispose the asset which material. Bank
yang bernilai material. Bank CIMB Niaga telah memenuhi CIMB Niaga has fulfilled the debt covenants requirement
pembatasan-pembatasan yang diwajibkan dalam outlined in borrowing agreements.
perjanjian pinjaman yang diterima.
Selama tahun yang berakhir 31 Desember 2020, Bank During the year period 31 December 2020, Bank CIMB
CIMB Niaga telah melakukan pembayaran pokok pinjaman Niaga has paid the principle to CIMB Bank Berhad
kepada CIMB Bank Berhad dengan nominal sebesar amounting to Rp nil (2019: Rp 191,722 and 2018:
Rp nihil (2019: Rp 191.722 dan 2018: Rp 383.467). Rp 383,467).

31. PAJAK PENGHASILAN 31. INCOME TAX
a. Uang muka pajak a. Prepaid taxes
2020 2019 2018

Pajak penghasilan badan Corporate income tax
2007 - 2013 497,425 497,425 545,136 2007 - 2013
2014 431,658 119,747 119,747 2014
2015 197,899 197,899 197,899 2015
2016 391,486 391,486 - 2016
Pajak penghasilan - Income taxes -
Pasal 4(2), 21, 23, dan 26 Article 4(2), 21, 23, and 26
2007 - 2016 69,970 116,617 140,622 2007 - 2016
Pajak Pertambahan Nilai Value Added Tax
2007 - 2016 32,596 31,264 475,147 2007 - 2016
Lain-lain 1,519 1,519 1,521 Others
1,622,553 1,355,957 1,480,072
Entitas Anak 308,151 288,132 412,198 Subsidiaries

1,930,704 1,644,089 1,892,270
b. Utang pajak b. Taxes payable
2020 2019 2018

Pajak penghasilan badan Corporate income tax
Pasal 25 26,521 126,674 60,538 Article 25
Pasal 29 47,738 45,150 142,528 Article 29
Pajak penghasilan Income taxes
Pasal 4 (2) 67,909 131,293 70,691 Article 4 (2)
Pasal 21, 23, dan 26 100,222 97,096 85,436 Article 21, 23, and 26
Pajak Pertambahan Nilai 13,147 14,831 11,790 Value Added Tax
255,537 415,044 370,983
Entitas Anak 45,655 83,497 90,158 Subsidiaries
301,192 498,541 461,141

31. PAJAK PENGHASILAN (lanjutan) 31. INCOME TAX (continued)
c. Beban pajak penghasilan c. Income tax expense
2020 2019 2018

Pajak kini Current tax
Beban pajak untuk tahun berjalan (647,178) (1,227,518) (1,048,886) Current tax on profits for the year
Penyesuaian tahun lalu - - (35,140) Adjustment in respect of prior years
Jumlah pajak kini (647,178) (1,227,518) (1,084,026) Total current tax
Pajak tangguhan Deferred tax
Beban pajak tangguhan tahun berjalan (5,340) (21,552) (148,711) Deferred tax on profits for the year
Dampak penyesuaian tarif pajak (241,244) - - Impact on tax rate adjustment
Jumlah pajak tangguhan (246,584) (21,552) (148,711) Total deferred tax
(893,762) (1,249,070) (1,232,737)
Entitas Anak Subsidiaries

Beban pajak untuk tahun berjalan (42,341) (77,456) (113,170) Current tax on profits for the year
Jumlah pajak kini (42,341) (77,456) (113,170) Total current tax
Beban pajak tangguhan tahun berjalan 3,629 15,564 (22,483) Deferred tax on profits for the year
Jumlah pajak tangguhan (63) 15,564 (22,483) Total deferred tax
(42,404) (61,892) (135,653)
Konsolidasian Consolidated
Beban pajak untuk tahun berjalan (689,519) (1,304,974) (1,162,056) Current tax on profits for the year
Penyesuaian tahun lalu - - (35,140) Adjustment in respect of prior years
Jumlah pajak kini (689,519) (1,304,974) (1,197,196) Total current tax
Beban pajak tangguhan tahun berjalan (1,711) (5,988) (171,194) Deferred tax on profits for the year
Jumlah pajak tangguhan (246,647) (5,988) (171,194) Total deferred tax
(936,166) (1,310,962) (1,368,390)

c. Beban pajak penghasilan (lanjutan) c. Income tax expense (continued)
Rekonsiliasi antara laba sebelum pajak, seperti yang The reconciliation between income before tax, as
disajikan sebagai laba/rugi, dengan beban pajak shown in profit/loss, with current income tax expense
penghasilan kini adalah: are as follows:
2020 2019 2018
Laba konsolidasian sebelum pajak 2,947,420 4,953,897 4,850,818 Consolidated income before tax
Laba sebelum pajak- Income before tax-
Entitas Anak (222,695) (224,424) (312,507) Subsidiaries
Laba sebelum pajak- Income before tax-
Bank CIMB Niaga 2,724,725 4,729,473 4,538,311 Bank CIMB Niaga
Perbedaan temporer Temporary differences

Perbedaan antara komersial Differences between commercial
dan fiskal pada: and fiscal amounts on:
Aset tetap (160,432) (8,291) (21,043) Fixed asset
Kerugian/(keuntungan) yang belum
direalisasi atas perubahan Unrealised losses/(gains) from
nilai wajar efek-efek dan Obligasi changes in fair value of marketable securities
Pemerintah yang diukur pada nilai and government bonds measured at
wajar melalui laba rugi 5,220 10,649 (13,911) at fair value through profit or loss
Beban cadangan kerugian
penurunan nilai 270,924 (337,192) (352,359) Allowance for impairment losses
Cadangan tunjangan bonus, Accrued bonus, vacation
THR, dan tantiem (38,306) 179,525 (136,978) pay, and tantiem
Lain-lain (104,113) 69,098 (70,555) Others
(26,707) (86,211) (594,846)
Perbedaan tetap Permanent differences

Perbedaan antara komersial Differences between commercial
dan fiskal pada: and fiscal amounts on:
Beban lain yang tidak dapat
diperhitungkan untuk tujuan Other non deductible
perpajakan 267,426 280,476 280,349 expense
Lain-lain (23,724) (13,667) (28,271) Others
243,702 266,809 252,078
Penghasilan kena pajak 2,941,720 4,910,071 4,195,543 Taxable income

Beban pajak penghasilan kini 647,178 1,227,518 1,048,886 Current income tax expense
Dikurangi: Less:
Pajak dibayar dimuka (599,440) (1,182,368) (906,358) Prepaid tax
Utang pajak penghasilan badan Corporate income tax payable
(lihat Catatan 31b) 47,738 45,150 142,528 (refer to Note 31b)
Penghasilan kena pajak hasil rekonsiliasi merupakan Taxable income results from reconciliation are the
dasar dalam pengisian Surat Pemberitahuan Tahunan basis in filing the Company’s annual Tax Return (SPT)
(SPT) PPh Badan Perseroan. of Corporate Income Tax.

c. Beban pajak penghasilan (lanjutan) c. Income tax expense (continued)
Dalam laporan keuangan konsolidasian ini, jumlah In these consolidated financial statements, the
penghasilan kena pajak Bank untuk tahun yang amount of Bank’s taxable income for the year period
berakhir pada tanggal 31 Desember 2020 didasarkan ended 31 December 2020 is based on preliminary
atas perhitungan sementara, karena Bank belum calculations, as the Bank has not yet submitted its
menyampaikan Surat Pemberitahuan Tahunan pajak corporate income tax returns.
penghasilan badan.
Rekonsiliasi antara beban pajak penghasilan dengan The reconciliations between income tax expense and
hasil perkalian laba akuntansi sebelum pajak the consolidated accounting profit before income tax
penghasilan konsolidasian dan tariff pajak yang multipled by the prevailing tax rate is as follows:
berlaku adalah sebagai berikut:
2020 2019 2018
Laba konsolidasian sebelum pajak 2,947,420 4,953,897 4,850,818 Consolidated income before tax
Beban pajak penghasilan sesuai Income tax expense at effective
tarif pajak 648,432 1,238,474 1,212,705 tax rates
Pengaruh pajak atas perbedaan tetap: Tax effect of permanent differences:
Beban lain yang tidak dapat
diperhitungkan untuk tujuan
perpajakan 58,834 70,119 70,087 Other non deductible expense
Lain-lain (16,036) 2,369 85,598 Others
Dampak perubahan tarif pajak Effect of change in tax rate
20% - Induk 241,244 - - at 20% - parent
Dampak perubahan tarif pajak Effect of change in tax rate
20% - Entitas Anak 3,692 - - at 20% - subsidiaries
287,734 72,488 155,685
Jumlah beban pajak 936,166 1,310,962 1,368,390 Total tax expense
Berdasarkan Peraturan Pemerintah Pengganti Pursuant to Government Regulation in Lieu of Law

Undang-Undang Republik Indonesia Nomor 1 Tahun of the Republic of Indonesia Number 1 Year 2020
2020 tentang Kebijakan Keuangan Negara dan concerning State Financial Policy and Financial
Stabilitas Sistem Keuangan untuk Penanganan System Stability for Handling Corona Virus Disease
Pandemi Corona Virus Disease 2019 (COVID-19) 2019 (COVID-19) and/or In Order to Face Threats
dan/atau Dalam Rangka Menghadapi Ancaman yang that Endanger the National Economy and/or
Membahayakan Perekonomian Nasional dan/atau Financial System Stability regulates the adjustment
Stabilitas Sistem Keuangan mengatur mengenai of corporate income tax including the deferred tax in
adanya penyesuaian tarif Pajak Penghasilan Wajib the form of tariff reduction of Article 17 paragraph (1)
Pajak badan dalam negeri dan bentuk usaha tetap letter b of the Law of Income Taxes to be 22%
termasuk pajak tangguhan berupa penurunan tarif (twenty two percent) in force in Fiscal Year 2020 and
Pasal 17 ayat (1) huruf b Undang Undang mengenai 2021, and 20% (twenty percent) which comes into
Pajak Penghasilan menjadi sebesar 22% (dua puluh force in Fiscal Year 2022. For tax year 2020, Bank
dua persen) yang berlaku pada Tahun Pajak 2020 dan CIMB Niaga and Subsidiaries has used tax rate of
Tahun Pajak 2021, dan sebesar 20% (dua puluh 22%.
persen) yang mulai berlaku pada Tahun Pajak 2022.
Untuk pajak tahun 2020, Bank CIMB Niaga dan Entitas
anak telah menggunakan tarif pajak sebesar 22%.

d. Aset/(liabilitas) pajak tangguhan – bersih d. Deferred tax asset/(liabilities) – net
2020
(Dibebankan)/dikreditkan
ke pendapatan Dampak Dampak
Dikreditkan/ komprehensif lainnya/ penerapan perubahan
(dibebankan) (Charged)/credited PSAK 71/ tarif pajak/
ke laba/rugi/ to other Impact of Effect of
1 Januari/ Credit/(charged) comprehensive implementation of changes in 31 Desember/
January to profit/loss income SFAS 71 tax rate December

Aset/(liabilitas) pajak tangguhan: Deferred tax assets/(liabilities):
Aset tetap (312,815) (32,086) - - 58,688 (286,213) Fixed assets
Kerugian/(keuntungan) yang belum Unrealised losses/(gains) from
direalisasi atas perubahan nilai changes in fair value of marketable
wajar efek-efek dan marketable securities
obligasi pemerintah - bersih 48,497 1,044 (276,757) - (9,700) (236,916) and government bonds - net
Beban cadangan kerugian -
penurunan nilai 65,189 54,185 - 1,330,482 (279,134) 1,170,722 Impairment of losses
Cadangan tunjangan bonus, THR, Accrued bonus, vacation pay,
tantiem, dan kerugian aktuarial atas tantiem, and actuarial loss on post
program imbalan pasti 211,200 (7,660) - - (42,240) 161,300 employment benefits obligation
Lain-lain (85,309) (20,823) - - 17,062 (89,070) Others
Jumlah aset/(liabilitas) pajak tangguhan - bersih (73,238) (5,340) (276,757) 1,330,482 (255,324) 719,823 Total deferred tax assets/(liabilities)- net

Jumlah aset pajak tangguhan - bersih 18,458 3,629 209 - (3,692) 18,604 Total deferred tax assets - net
(54,780) (1,711) (276,548) 1,330,482 (259,016) 738,427
2019
(Dibebankan)/dikreditkan (285,891)
ke pendapatan (9,343)
Dikreditkan/ komprehensif lainnya/
(dibebankan) (Charged)/credited (285,994)
ke laba/rugi/ to other (9,237)
1 Januari/ Credit/(charged) comprehensive 31 Desember/ >> dampak new tax rate
January to profit/loss income December

Aset tetap (263,209) (2,073) (47,533) (312,815) Fixed assets
direalisasi atas perubahan nilai changes in fair value of
obligasi pemerintah - bersih 145,102 2,662 (99,267) 48,497 and government bonds - net
penurunan nilai 149,487 (84,298) - 65,189 Impairment of losses
program imbalan pasti 166,319 44,881 - 211,200 employment benefits obligation
Lain-lain (102,585) 17,276 - (85,309) Others
Jumlah aset/(liabilitas) pajak tangguhan - bersih 95,114 (21,552) (146,800) (73,238) Total deferred tax assets/(liabilities)- net

Jumlah aset pajak tangguhan - bersih 4,749 15,564 (1,855) 18,458 Total deferred tax assets - net
99,863 (5,988) (148,655) (54,780)


d. Aset/(liabilitas) pajak tangguhan – bersih (lanjutan) d. Deferred tax asset/(liabilities) – net (continued)
2018
(Dibebankan)/dikreditkan
ke pendapatan
Dikreditkan/ komprehensif lainnya/
(dibebankan) (Charged)/credited
ke laba/rugi/ to other
1 Januari/ Credit/(charged) comprehensive 31 Desember/
January to profit/loss income December

Beban penyusutan aset tetap (257,948) (5,261) - (263,209) Fixed assets depreciation
direalisasi atas perubahan nilai changes in fair value of
obligasi pemerintah - bersih (5,479) (3,478) 154,059 145,102 and government bonds - net
penurunan nilai 237,577 (88,090) - 149,487 Impairment of losses
program imbalan pasti 262,017 (34,244) (61,454) 166,319 employment benefits obligation
Lain-lain (84,947) (17,638) - (102,585) Others
Jumlah aset pajak tangguhan - bersih 151,220 (148,711) 92,605 95,114 Total deferred tax assets - net

Jumlah aset pajak tangguhan - bersih 26,629 (22,483) 603 4,749 Total deferred tax assets - net
177,849 (171,194) 93,208 99,863
e. Administrasi e. Administration
Berdasarkan Undang-Undang Perpajakan yang Under the applicable Taxation Laws in Indonesia, the
berlaku di Indonesia, Perusahaan menghitung, Company calculates, determines, and submits tax
menetapkan, dan membayar sendiri besarnya jumlah returns on the basis of self-assessment. The
pajak yang terhutang. Direktorat Jenderal Pajak (DJP) Directorate General of Tax (DGT) may assess or
dapat menetapkan atau mengubah liabilitas pajak amend taxes within 5 (five) years after the taxes
dalam batas waktu 5 (lima) tahun sejak saat become due.
terhutangnya pajak.
f. Surat ketetapan pajak f. Tax assessment letters
Tahun fiskal 2008 eks PT Bank Lippo Tbk Fiscal year 2008 ex PT Bank Lippo Tbk
Pada tanggal 17 September 2010, sebagai kelanjutan On 17 September 2010, as a result of tax audit
dari audit pajak yang dilakukan oleh kantor pajak atas conducted by the tax authority in respect of fiscal year
tahun fiskal 2008 terkait dengan eks PT Bank Lippo 2008 related with ex PT Bank Lippo Tbk, Bank CIMB
Tbk, Bank CIMB Niaga menerima Surat Ketetapan Niaga has received the tax assessment letter for the
Pajak untuk tahun pajak 2008 yang menyatakan fiscal year 2008 which stated that there was an
kurang bayar atas Pajak Penghasilan (PPh) Badan underpayment of corporate income tax article 29,
Pasal 29, Pajak Penghasilan Pasal 23, 4(2), 26, dan income tax articles 23, 4(2), 26, and 21, and Value
21, dan Pajak Pertambahan Nilai (PPN) dengan Added Tax (VAT) with total amounting to Rp 537,348
jumlah Rp 537.348 (termasuk denda dan sanksi (including penalty and administrative charges). After
administrasi). Setelah melakukan evaluasi atas Surat evaluating the tax assessment letter, and even though
Ketetapan Pajak tersebut dan walaupun Bank CIMB Bank CIMB Niaga did not agree to some tax findings,
Niaga tidak setuju terhadap sebagian temuan tersebut, Bank CIMB Niaga has already paid to the tax office full
Bank CIMB Niaga telah membayar seluruh pajak underpayment amount on 14 October 2010. On
kurang bayar tersebut pada tanggal 14 Oktober 2010. 10 December 2010, Bank CIMB Niaga has submitted
Pada tanggal 10 Desember 2010, Bank CIMB Niaga the tax objection letter to the tax office and
telah mengajukan keberatan kepada kantor pajak dan subsequently the objection has been submitted to Tax
atas keberatan tersebut dilakukan banding kepada Court. The above underpayment of tax amounted to
Pengadilan Pajak. Pajak kurang bayar sebesar Rp 537,348 has been recorded as prepaid taxes and
Rp 537.348 tersebut dicatat sebesar Rp 479.411 non-operating expenses amounted to Rp 479,411 and
pada akun uang muka pajak dan sebesar Rp 57.937 Rp 57,937, respectively in 2010.
pada akun beban bukan operasional tahun 2010.

f. Surat ketetapan pajak (lanjutan) f. Tax assessment letters (continued)
Tahun fiskal 2008 eks PT Bank Lippo Tbk (lanjutan) Fiscal year 2008 ex PT Bank Lippo Tbk (continued)
Sengketa pajak ini, telah selesai pada tanggal 4 This tax dispute was resolved on 4 February 2019 with
Februari 2019 dengan rincian sebagai berikut : the following details :
Proses sengketa dan banding/The process of the dispute and appeal
Tahun fiskal/ Fiscal Jenis pajak/ Jumlah/ Status Masih tercatat sebagai pajak dibayar
year Tax type Amount dimuka pada tanggal 31 Desember
2020/Still recorded as prepaid taxes
as at 31 December 2020
2008 eks PT Bank Lippo Pajak penghasilan pasal 26/Income 2,600 Dimenangkan oleh Bank di Mahkamah Agung pada tanggal 26 Mei 2014 dan pengembalian -
Tbk/ 2008 ex PT Bank tax article 26 sebesar Rp 2.600 telah diterima/It was won by the Bank at Supreme Court on 26 May 2014
Lippo Tbk and the refund amounting to Rp 2,600 has been received.
Pajak Pertambahan Nilai 9,652 Dimenangkan oleh Bank di Mahkamah Agung pada tanggal 26 Mei 2014 dan pengembalian -
(PPN)/Value Added Tax (VAT) sebesar Rp 9.652 telah diterima/It was won by the Bank at Supreme Court on 26 May 2014
and the refund amounting to Rp 9,652 has been received.
Pajak penghasilan pasal 23 dan 52,034 Dimenangkan oleh Bank di Mahkamah Agung pada tanggal 26 Mei 2014 dan pengembalian -
26/Income tax articles 23 and 26 sebesar Rp 53.018 telah diterima/It was won by the Bank at Supreme Court on 26 May 2014
and the refund amounting to Rp 53,018 has been received.
Pajak penghasilan badan pasal 29, 34,949 Kalah di Mahkamah Agung pada tanggal 9 Maret 2017 dan Bank telah membayar kembali Rp -
pajak penghasilan pasal 4(2) dan 35.140 pada tanggal 4 April 2018 yang sebelumnya telah diterima yang dimenangkan di
21/Corporate income tax article 29, Pengadilan Pajak/Lost in Supreme Court on 9 March 2017 and Bank has re-paid Rp 35,140
income tax articles 4(2) and 21 on 4 April 2018 which previously received after won at Tax Court.
Pajak Pertambahan Nilai 380,176 Dimenangkan oleh Bank di Mahkamah Agung pada tanggal 15 Februari 2018. Pengembalian -
(PPN)/Value Added Tax (VAT) sebesar Rp 380.220 telah diterima oleh Bank pada tanggal 24 Januari 2019 dan 4 Februari
2019./It was won by the Bank at Supreme Court on 15 February 2018. The refund amounting
to Rp 380,220 has been received by the Bank on 24 January 2019 and 4 February 2019.
479,411 -
Tahun fiskal 2008 eks PT Bank Niaga Tbk Fiscal year 2008 ex PT Bank Niaga Tbk
Pada tanggal 2 Desember 2011, sebagai kelanjutan On 2 December 2011, as a result of tax audit
tahun fiskal 2008 terkait dengan eks PT Bank Niaga 2008 related with ex PT Bank Niaga Tbk, Bank CIMB
Tbk, Bank CIMB Niaga menerima Surat Ketetapan Niaga has received the tax assessment letter which
Pajak yang menyatakan kurang bayar atas PPh Badan stated that there was an underpayment of corporate
Pasal 29, PPh Pasal 23, 4(2), 26, dan 21, dan PPN income tax article 29, income tax articles 23, 4(2), 26,
dengan jumlah Rp 341.212 (termasuk denda dan and 21, and VAT with total amounting to Rp 341,212
sanksi administrasi). Setelah melakukan evaluasi atas (including penalty and administrative charges). After
Surat Ketetapan Pajak tersebut dan walaupun Bank evaluating the tax assessment letter, and even though
CIMB Niaga tidak setuju terhadap sebagian temuan Bank CIMB Niaga did not agree to some tax findings,
tersebut, Bank CIMB Niaga telah membayar seluruh Bank CIMB Niaga has already paid to the tax office full
kurang bayar pajak tersebut pada tanggal underpayment amount on 30 December 2011. The
30 Desember 2011. Kurang bayar pajak sebesar Rp underpayment of tax amounted to Rp 341,212 has
341.212 tersebut dicatat masing-masing sebesar Rp been recorded as prepaid taxes, non-operating
303.867 pada akun uang muka pajak, Rp 31.402 pada expenses, and income tax expense in 2011 amounted
akun beban bukan operasional, dan Rp 5.943 pada to Rp 303,867, Rp 31,402, and Rp 5,943, respectively.
akun beban Pajak Penghasilan tahun 2011.

Tahun fiskal 2008 eks PT Bank Niaga Tbk (lanjutan) Fiscal year 2008 ex PT Bank Niaga Tbk (continued)
Sengketa pajak ini, telah selesai pada tanggal 2 April This tax dispute was resolved on 2 April 2020 with the
2020 dengan rincian sebagai berikut: following details:
Proses sengketa dan banding/The process of the dispute and appeal
Tahun fiskal/ Fiscal Jenis pajak/ Jumlah/ Status Masih tercatat sebagai pajak dibayar
year Tax type Amount dimuka pada tanggal 31 Desember
2020/Still recorded as prepaid taxes
as at 31 December 2020
2008 eks PT Bank Niaga Pajak penghasilan pasal 23, 4(2), 13,185 Tidak diajukan banding dan telah dicatat pada akun beban bukan operasional tahun -
Tbk/ 2008 ex PT Bank dan 21/ Income tax articles 23, 4(2), 2013/Were not appealed and have been recorded as non-operational expense in 2013.
Niaga Tbk and 21
Pajak penghasilan badan pasal 29/ 237,147 Diajukan banding sebesar Rp 204.761 sedangkan sisanya tidak diajukan banding sebesar Rp -
Corporate income tax article 29 32.386 telah dicatat sebagai beban pajak penghasilan dan beban bukan operasional tahun
2013 masing-masing sebesar Rp 21.883 dan Rp 10.503. Menang di Pengadilan Pajak dan
pengembalian sebesar Rp 204.761 telah diterima oleh Bank pada tahun 2015. Direktorat
Jenderal Pajak (DJP) telah mengajukan Memo Peninjauan Kembali (PK) ke tingkat Mahkamah
Agung pada tanggal 25 Februari 2015. Pada tanggal 2 April 2020. Mahkamah Agung menolah
Peninjauan Kembali tersebut, maka dimenangkan oleh Bank CIMB Niaga/Had been appealed
amounting to Rp 204,761 while the remaining amount of Rp 32,386 have been recorded as
income tax expense and non-operational expense in 2013 amounting to Rp 21,883 and Rp
10,503, respectively. Won at Tax Court and the refund amounting to Rp 204,761 has been
received by Bank in 2015. Directirate General of Tax (DGT) has submitted Memo of
Reconsideration Review to Supreme Court on 25 February 2015. On 2 April 2020, Supreme
Court has rejected Reconsideration Review thus won by Bank CIMB Niaga.
Pajak penghasilan pasal 26/ Income 29,470 Dimenangkan oleh Bank di Mahkamah Agung pada tanggal 24 Mei 2017 dan pengembalian -
tax article 26 sebesar Rp 31.371 telah diterima oleh Bank pada tanggal 20 April 2018/ It was won by the
Bank at Supreme Court on 24 May 2017 and the refund amounting to Rp 31,371 has been
received by the Bank on 20 April 2018.
Pajak Pertambahan Nilai (PPN)/ 24,065 Dimenangkan oleh Bank di Pengadilan Pajak dan pengembalian sebesar Rp 5.416 telah -
Value Added Tax (VAT) diterima. Nilai yang tidak diajukan banding sebesar Rp 17.917 telah dicatat sebagai beban non-
operasional pada tahun 2015. Direktorat Jenderal Pajak (DJP) telah mengajukan Memo
Peninjauan Kembali (PK) ke tingkat Mahkamah Agung pada tanggal 25 Februari 2015.
Dimenangkan oleh Bank di Mahkamah Agung pada tanggal 15 Desember 2016/On the
submitted appeal , it was won by the Bank at Tax Court and the refund amounting to Rp
5,416 has been received, while the remaining amount of Rp 17,917 has been recorded as
non-operational expense in 2015. Directorate General of Tax (DGT) has submitted Memo of
Reconsideration Review to Supreme Court on 25 February 2015. It was won by the Bank at
Supreme Court on 15 December 2016.
303,867 -


Tahun fiskal 2007 eks PT Bank Lippo Tbk Fiscal year 2007 ex PT Bank Lippo Tbk
Pada tanggal 27 Desember 2013, sebagai kelanjutan On 27 December 2013, as a result of tax audit
tahun fiskal 2007 terkait dengan eks PT Bank Lippo 2007 related to ex PT Bank Lippo Tbk, Bank CIMB
Tbk, Bank CIMB Niaga menerima Surat Ketetapan Niaga has received the tax assessment letters which
Pajak yang menyatakan kurang bayar atas Pajak stated that there were underpayments of corporate
Penghasilan Badan Pasal 29, PPh Pasal 23, 4(2), 26, income tax article 29, income tax articles 23, 4(2), 26,
21, dan PPN dengan jumlah Rp 179.947 (termasuk 21, and VAT with total amount of
denda dan sanksi administrasi). Pada tanggal Rp 179,947 (including penalty and administrative
24 Januari 2014 Bank CIMB Niaga melakukan charges). Bank CIMB Niaga has paid the
pembayaran atas Surat Ketetapan Pajak tersebut underpayment amounting to Rp 179,947 on 24 January
sebesar Rp 179.947. Atas pembayaran tersebut 2014 and recorded Rp 141 as income tax expense,
dicatat sebagai biaya pajak sebesar Rp 141, biaya Rp 68 as tax penalty, and prepaid taxes amounting to
koreksi dan denda pajak sebesar Rp 68, sedangkan Rp 179,738 for the tax finding results that were not
sebesar Rp 179.738 dicatat sebagai uang muka pajak agreed by Bank CIMB Niaga. Bank CIMB Niaga has
atas hasil pemeriksaan pajak yang tidak disetujui oleh submitted an objection and an appeal to Tax Court
Bank CIMB Niaga. Bank CIMB Niaga mengajukan against all the tax assessment letters.
keberatan dan banding ke Pengadilan Pajak atas
seluruh Surat Ketetapan Pajak tersebut.
Atas PPh Badan Pasal 29, pada tanggal 8 Mei 2018, For corporate income tax article 29, on 8 May 2018,
Pengadilan Pajak telah memutuskan sengketa PPh Tax Court has decided the dispute of corporate income
Badan Pasal 29 dimenangkan sebagian oleh Bank tax article 29 was partially won by Bank CIMB Niaga
CIMB Niaga yaitu sebesar Rp 47.711. Pengembalian amounting to Rp 47,711. The refund amounting to Rp
pajak sebesar Rp 47.711 telah diterima oleh Bank 47,711 has been received by Bank CIMB Niaga on 26
CIMB Niaga pada tanggal 26 Maret 2019. DJP March 2019. The DGT has submitted a Memo of
kemudian mengajukan Peninjauan Kembali kepada Reconsideration Review to the Supreme Court for the
Mahkamah Agung atas Putusan Pengadilan Pajak corporate income tax Article 29. On 8 May 2019, the
tersebut. Pada tanggal 8 Mei 2019, Mahkamah Agung Supreme Court rejected Memo of Reconsideration
menolak permohonan Peninjauan Kembali yang Review submitted by DGT on corporate income tax
diajukan oleh DJP yang berarti atas Peninjauan Article 29, which means the Reconsideration Review
Kembali tersebut dimenangkan oleh Bank CIMB won by Bank CIMB Niaga.
Niaga.
Atas PPh Pasal 23, pada tanggal 28 September 2017, For income tax article 23, on 28 September 2017, Tax
Pengadilan Pajak telah memutuskan sengketa PPh Court has decided the dispute of income tax article 23
Pasal 23 dimenangkan seluruhnya oleh Bank CIMB was entirely won by Bank CIMB Niaga amounting to Rp
Niaga yaitu sebesar Rp 11.492. Atas PPh 23 yang 11,492. On the dispute of PPh 23 which was won by
telah dimenangkan oleh Bank CIMB Niaga, DJP tidak Bank CIMB Niaga, DGT did not submit Memo of
mengajukan Peninjauan Kembali kepada Mahkamah Reconsideration Review to the Supreme Court and the
Agung. Pengembalian pajak sebesar Rp 11.492 telah refund amounting to Rp 11,492 has been received by
diterima oleh Bank CIMB Niaga pada tanggal 12 Maret Bank CIMB Niaga on 12 March 2018.
2018.

Atas PPh Pasal 4(2), pada tanggal 28 September For income tax article 4(2), on 28 September 2017, Tax
2017, Pengadilan Pajak telah memutuskan sengketa Court has decided the dispute of income tax article 4(2)
PPh Pasal 4(2) dimana Bank CIMB Niaga menang where Bank CIMB Niaga has won of Rp 5,125 and has
sebesar Rp 5.125 dan kalah sebesar Rp 1.187. lost of Rp 1,187. The refund amounting to Rp 5,125
Pengembalian pajak sebesar Rp 5.125 telah diterima has been received by Bank CIMB Niaga on
oleh Bank CIMB Niaga pada tanggal 20 Februari 20 February 2018. DGT has submitted Memo of
2018. Atas sengketa yang dimenangkan oleh Bank Reconsideration Review to the Supreme Court for this
CIMB Niaga, DJP telah mengajukan Peninjauan income tax article 4(2). On 31 May 2018, Supreme
Kembali kepada Mahkamah Agung. Pada tanggal Court rejected the Memo of Reconsideration Review by
31 Mei 2018, Mahkamah Agung menolak permohonan DGT on income tax article 4(2) which means
Peninjauan Kembali yang diajukan oleh DJP yang Reconsideration Review won by Bank CIMB Niaga.
berarti atas Peninjauan Kembali tersebut
dimenangkan oleh Bank CIMB Niaga.
Atas PPh Pasal 26, pada tanggal 8 Mei 2018, For income tax article 26, on 8 May 2018, Tax Court
Pengadilan Pajak telah memutuskan sengketa PPh has decided the dispute of income tax article 26 where
Pasal 26 dimana Bank CIMB Niaga menang sebesar Bank CIMB Niaga has won of Rp 428 and has lost of
Rp 428 dan kalah sebesar Rp 40.647. Pengembalian Rp 40,647. The refund amounting to Rp 428 has been
pajak sebesar Rp 428 telah diterima oleh Bank CIMB received by Bank CIMB Niaga on 26 March 2019.
Niaga pada tanggal 26 Maret 2019. Atas sengketa For the dispute which was won by Bank CIMB Niaga,
yang dimenangkan oleh Bank CIMB Niaga, DJP telah DGT has submitted Memo of Reconsideration Review
mengajukan Peninjauan Kembali kepada Mahkamah to the Supreme Court and up to the date of this report,
Agung dan sampai tanggal laporan ini, belum ada there has been no decision from the Supreme Court.
putusan dari Mahkamah Agung. Sedangkan, atas For the dispute in which Bank CIMB Niaga has lost,
sengketa dimana Bank CIMB Niaga kalah, Bank CIMB Bank CIMB Niaga has submitted Memo of
Niaga telah mengajukan Peninjauan Kembali kepada Reconsideration Review to the Supreme Court. On 3
Mahkamah Agung. Pada tanggal 3 Oktober 2019, October 2019, Supreme Court granted Reconsideration
Mahkamah Agung mengabulkan Peninjauan Kembali Review submitted by Bank CIMB Niaga. The refund
yang diajukan oleh Bank CIMB Niaga. Pengembalian amounting to Rp 40,647 has been received by Bank
pajak sebesar Rp 40.647 telah diterima oleh Bank CIMB Niaga on 28 February 2020.
CIMB Niaga pada tanggal 28 Februari 2020.
Atas PPh Pasal 21, pada tanggal 31 Januari 2017, For income tax article 21, on 31 January 2017, Tax
Pengadilan Pajak telah memutuskan sengketa PPh Court has decided the dispute of income tax article 21
Pasal 21 dimenangkan seluruhnya oleh Bank CIMB was entirely won by Bank CIMB Niaga, amounting to
Niaga, yaitu sebesar Rp 7.067. DJP mengajukan Rp 7,067. DGT has submitted Memo of
Peninjauan Kembali kepada Mahkamah Agung atas Reconsideration Review to the Supreme Court for this
Putusan Pengadilan Pajak tersebut. Pada tanggal income tax article 21. On 8 October 2018, Supreme
8 Oktober 2018, Mahkamah Agung menolak Court rejected Memo of Reconsideration Review by
Peninjauan Kembali yang diajukan oleh DJP yang DGT, which means Reconsideration Review won by
berarti atas Peninjauan Kembali tersebut the Bank. The refund of Rp 7,067 has been received
dimenangkan oleh Bank CIMB Niaga. Pengembalian by Bank CIMB Niaga on 11 June 2020 and it was used
pajak sebesar Rp 7.067 telah diterima oleh Bank to pay the tax payable of income tax Article 4(2) for
CIMB Niaga pada tanggal 11 Juni 2020 dan digunakan period June 2020 to December 2020.
untuk membayar utang pajak PPh Pasal 4 (2) masa
Juni 2020 sampai dengan Desember 2020.

Tahun fiskal 2007 eks PT Bank Lippo Tbk (lanjutan) Fiscal year 2007 ex PT Bank Lippo Tbk (continued)
Atas PPN, pada tanggal 8 Mei 2018, Pengadilan Pajak For VAT, on 8 May 2018, Tax Court has decided the
telah memutuskan sengketa PPN dimenangkan dispute of VAT was entirely won by Bank CIMB Niaga
seluruhnya oleh Bank CIMB Niaga, yaitu sebesar amounting to Rp 61,474. The DGT has submitted a
Rp 61.474. DJP mengajukan Peninjauan Kembali Memorandum of Review to the Supreme Court . On 17
kepada Mahkamah Agung atas Putusan Pengadilan June 2019, Supreme Court has rejected
Pajak tersebut. Pada tanggal 17 Juni 2019, Reconsideration Review submitted by DGT, which
Mahkamah Agung menolak permohonan Peninjauan means Reconsideration Review won by Bank CIMB
Kembali yang diajukan oleh DJP yang berarti atas Niaga. Bank CIMB Niaga has partially received the
Peninjauan Kembali tersebut dimenangkan oleh Bank refund which related to tax principal amounting to Rp
CIMB Niaga. Bank CIMB Niaga telah menerima 54,156 on 26 March 2019. The remaining of Rp 7,318
sebagian pengembalian terkait dengan pokok pajak has not yet been received by Bank CIMB Niaga up to
sebesar Rp 54.156 pada tanggal 26 Maret 2019. Sisa the date of this report.
sebesar Rp 7.318 belum diterima oleh Bank CIMB
Niaga sampai dengan tanggal laporan ini.
Tahun fiskal 2011 Fiscal year 2011
Pada tanggal 30 November 2015, sebagai kelanjutan On 30 November 2015, as a result of tax audit
tahun fiskal 2011 terkait dengan PT Bank CIMB Niaga 2011 related to PT Bank CIMB Niaga Tbk, Bank CIMB
Tbk, Bank CIMB Niaga menerima Surat Ketetapan Niaga has received the tax assessment letters which
Pajak yang menyatakan kurang bayar atas PPh Badan stated that there were underpayments of corporate
Pasal 29, PPh Pasal 4(2), 21 dan 26, dan PPN income tax article 29, income tax articles 4(2), 21 and
dengan jumlah Rp 444.109 (termasuk denda dan 26, and VAT with total amounting to Rp 444,109
sanksi administrasi). Setelah melakukan evaluasi atas (including penalty and administrative charges). After
Surat Ketetapan Pajak tersebut dan walaupun Bank evaluating the tax assessment letter, and even though
CIMB Niaga tidak setuju terhadap sebagian temuan Bank CIMB Niaga did not agree to some tax findings,
tersebut, Bank CIMB Niaga telah membayar seluruh Bank CIMB Niaga has already paid to the tax office full
kurang bayar pajak tersebut pada tanggal underpayment amount on 29 December 2015 of
29 Desember 2015 atas PPh Badan Pasal 29 dan corporate income tax article 29 and VAT amounted to
PPN masing-masing sebesar Rp 165 dan Rp 6.874, Rp 165 and Rp 6,874, respectively, on 30 December
pada tanggal 30 Desember 2015 atas Surat Tagihan 2015 of tax collection notices of VAT amounted to Rp
Pajak terhadap PPN sebesar Rp 2.229 dan pada 2,229 and on 26 February 2016 for the remaining
tanggal 26 Februari 2016 terhadap sisa kekurangan underpayments amounted to Rp 434,841. The
kurang bayar yang harus dibayarkan sebesar underpayment of tax amounted to Rp 444,109 has
Rp 434.841. Kurang bayar pajak sebesar Rp 444.109 been recorded as prepaid taxes and non-operating
tersebut dicatat masing-masing sebesar Rp 437.070 expenses amounting to Rp 437,070 and Rp 7,039,
pada akun uang muka pajak dan Rp 7.039 pada akun respectively in 2015. Bank CIMB Niaga has submitted
beban bukan operasional tahun 2015. Bank CIMB the objections to the DGT on 29 February 2016.
Niaga telah mengajukan keberatan kepada DJP pada
tanggal 29 Februari 2016.


Tahun fiskal 2011 (lanjutan) Fiscal year 2011 (continued)
Atas PPh Badan Pasal 29, pada tanggal 20 Februari For corporate income tax article 29, on 20 February
2017, DJP menerbitkan Keputusan Keberatan, dimana 2017, DGT has issued Objection Decision letter, where
DJP menerima sebagian keberatan yang diajukan oleh DGT has granted part of the objection amounting to Rp
Bank CIMB Niaga yaitu sebesar Rp 74.975. 74,975. The refund amount of Rp 74,975 was received
Pengembalian pajak sebesar Rp 74.975 telah diterima by Bank CIMB Niaga on 24 March 2017. On 18 May
oleh Bank CIMB Niaga pada tanggal 24 Maret 2017. 2017, Bank CIMB Niaga has submitted an appeal to
Pada tanggal 18 Mei 2017, Bank CIMB Niaga telah the Tax Court for all rejected objection of corporate
mengajukan banding kepada Pengadilan Pajak atas income tax article 29 amounting to Rp 268,385. On
Keputusan Keberatan tersebut sebesar Rp 268.385. 3 November 2020, the tax court has decided to fully
Pada tanggal 3 November 2020, Pengadilan Pajak granted the appeal submitted by Bank CIMB Niaga.
telah memutuskan dan mengabulkan seluruhnya The refund of Rp 268,385 received by CIMB Niaga on
banding yang diajukan oleh Bank CIMB Niaga. Jumlah 11 January 2021.
kelebihan pembayaran pajak sebesar Rp 268.385
telah diterima oleh Bank CIMB Niaga pada tanggal
11 Januari 2021.
Atas PPh Pasal 4(2), pada tanggal 23 Januari 2017, For income tax article 4(2), on 23 January 2017, DGT
DJP menerbitkan Keputusan Keberatan yang has issued Objection Decision letter which granted
menerima sebagian keberatan yang diajukan oleh partially of the objection of the income tax article 4(2)
Bank CIMB Niaga yaitu sebesar Rp 32.369. amounting to Rp 32,369. The refund of Rp 32,369 was
Pengembalian pajak sebesar Rp 32.369 telah diterima received by Bank CIMB Niaga on 24 March 2017 and
oleh Bank CIMB Niaga pada tanggal 24 Maret 2017. Bank CIMB Niaga did not appeal for the tax case which
Bank CIMB Niaga tidak mengajukan banding atas was rejected in the objection process.
sengketa yang tidak disetujui di proses keberatan.
Atas PPh Pasal 26, pada tanggal 7 Desember 2016, For income tax article 26, on 7 December 2016, DGT
DJP telah menerbitkan Keputusan Keberatan atas has issued Objection Decision letter on income tax
PPh Pasal 26 yang menolak seluruhnya atas article 26 which rejected all the objection submitted by
keberatan yang diajukan oleh Bank CIMB Niaga. Bank Bank CIMB Niaga. Bank CIMB Niaga has submitted an
CIMB Niaga kemudian mengajukan banding atas hasil appeal to the Tax Court for all rejected case of income
Keputusan Keberatan tersebut kepada Pengadilan tax article 26 on 3 March 2017. On 9 October 2018,
Pajak pada tanggal 3 Maret 2017. Pada tanggal Tax Court has decided and granted partial appeal on
9 Oktober 2018, Pengadilan Pajak telah memutuskan income tax article 26 period of January and November
untuk mengabulkan sebagian banding Masa Januari 2011, whereas for the period of February 2011 until
dan November 2011, dan mengabulkan seluruhnya October 2011 and December 2011, Tax Court has
banding untuk Masa Februari 2011 sampai dengan granted entirely. The total amount won by Bank CIMB
Oktober 2011 dan Masa Desember 2011. Jumlah Niaga amounting to Rp 19,458, and on 25 January
yang dimenangkan oleh Bank CIMB Niaga adalah 2019 the DGT has submitted Memo of Reconsideration
sebesar Rp 19.458, dan pada tanggal 25 Januari Review to the Supreme Court. On 24 July 2019,
2019, DJP mengajukan Peninjauan Kembali kepada 31 July 2019, 1 August 2019, and 26 September 2019
Mahkamah Agung. Pada tanggal 24 Juli 2019, 31 Juli Supreme Court has decided and rejected
2019, 1 Agustus 2019, dan 26 September 2019 Reconsideration Review submitted by DJP. The refund
Mahkamah Agung telah menerbitkan putusan dan amounting to Rp 19,458 has been received by Bank
menolak permohonan Peninjauan Kembali yang CIMB Niaga during February 2019.
diajukan oleh DJP. Pengembalian pajak dengan total
sebesar Rp 19.458 telah diterima oleh Bank CIMB
Niaga sepanjang Februari 2019.

Atas sengketa PPh Pasal 26 yang tidak dikabulkan For the dispute of income tax article 26 which was
oleh Pengadilan Pajak sebesar Rp 77, Bank CIMB rejected by the Tax Court amounting to Rp 77,
Niaga telah mengajukan Peninjauan Kembali kepada Bank CIMB Niaga has submitted Memo
Mahkamah Agung pada tanggal 23 Januari 2019. Reconsideration Review to Supreme Court
Pada tanggal 27 Agustus 2019 dan 22 Oktober 2019, on 23 January 2019. On 27 August 2019 and
Mahkamah Agung telah menerbitkan putusan dan 22 October 2019, Supreme Court has decided to reject
menolak permohonan Peninjauan Kembali yang Reconsideration Review submitted by Bank CIMB
diajukan oleh Bank CIMB Niaga. Niaga.
Atas PPN, pada tanggal 20 Februari 2017, DJP telah For VAT, on 20 February 2017, DGT has issued
menerbitkan Keputusan Keberatan yang menolak Objection Decision letter on VAT where DGT rejected
seluruhnya keberatan yang diajukan Bank CIMB the entire VAT objection. On 18 May 2017, Bank CIMB
Niaga. Pada tanggal 18 Mei 2017, Bank CIMB Niaga Niaga has submitted an appeal to the Tax Court for all
telah mengajukan banding kepada Pengadilan Pajak rejected objection of VAT amounting to Rp 19,100.
atas Keputusan Keberatan PPN sebesar Rp 19.100. On 27 November 2018, Tax Court has decided and
Pada tanggal 27 November 2018, Pengadilan Pajak granted partial appeal on VAT period of January 2011
telah memutuskan dan mengabulkan sebagian until December 2011 amounting to Rp 13,452. The
banding atas PPN Masa Januari 2011 sampai dengan refund of Rp 1,829 was received by Bank CIMB Niaga
Desember 2011 sebesar Rp 13.452. Pengembalian on 4 January 2019, Rp 8,991 on 7 January 2019,
pajak sebesar Rp 1.829 diterima oleh Bank CIMB Rp 1,056 on 8 January 2019 and Rp 1,576 on 26 June
Niaga pada tanggal 4 Januari 2019, sebesar Rp 8.991 2019. For the dispute rejected by the Tax Court, Bank
pada tanggal 7 Januari 2019, Rp 1.056 pada tanggal CIMB Niaga did not submit Memo of Reconsideration
8 Januari 2019 dan Rp 1.576 pada tanggal 26 Juni Review to Supreme Court. On 5 March 2019, DGT
2019. Atas sengketa yang tidak dikabulkan oleh submitted Reconsideration Review to Supreme Court
Pengadilan Pajak, Bank CIMB Niaga tidak for tax cases which granted partially by the Tax Court
mengajukan Peninjauan Kembali kepada Mahkamah on VAT period of January until December 2011
Agung. Pada tanggal 5 Maret 2019, DJP mengajukan amounting to Rp 13,452. The Supreme Court has
Peninjauan Kembali kepada Mahkamah Agung atas issued the decision that rejected the Reconsideration
Putusan Pengadilan Pajak yang mengabulkan Review submitted by DJP, which means
sebagian banding PPN Masa Januari sampai dengan Reconsideration Review won by Bank CIMB Niaga.
Desember 2011 sebesar Rp 13.452. Mahkamah
Agung menolak permohonan Peninjauan Kembali
yang diajukan oleh DJP yang berarti atas Peninjauan
Kembali tersebut dimenangkan oleh Bank CIMB
Niaga.
Pada tanggal 18 Desember 2017, DJP telah On 18 December 2017, DGT has issued tax
menerbitkan Surat Ketetapan Pajak Kurang Bayar underpayment tax assessment letters on corporate
atas PPh Badan Pasal 29, PPh Pasal 23, 4(2), 21, dan income tax article 29, income tax articles 23, 4(2), 21
PPN tahun 2013 dengan jumlah kurang bayar sebesar and VAT for the year 2013 with total tax underpayment
Rp 311.396, dan Surat Ketetapan Pajak Lebih Bayar amounting to Rp 311,396, and tax assessment letters
atas PPh Pasal 26 sebesar Rp 34.526. Pada tanggal on income tax article 26 with total overpayment
27 Desember 2017, Bank CIMB Niaga telah amounting to Rp 34,526. On 27 December 2017, Bank
melakukan pembayaran kurang bayar pajak bersih CIMB Niaga has paid the net amount of underpayment
sebesar Rp 276.870 yang dicatat pada akun uang amounted Rp 276,870 which has been recorded as
muka pajak. prepaid taxes

Pada tanggal 12 Maret 2018, Bank CIMB Niaga telah On 12 March 2018, Bank CIMB Niaga has submitted
mengajukan keberatan atas Surat Ketetapan Pajak objection on Tax Assessment Letter for corporate
untuk PPh Badan Pasal 29, PPh Pasal 21 Masa income tax article 29, income tax article 21 for January
Januari 2013 hingga November 2013, PPh Pasal 4(2), 2013 until November 2013 period, income tax article
PPh Pasal 26 dan PPN. Atas PPh Pasal 23 dan PPh 4(2), income tax article 26 and VAT. For income tax
Pasal 21 Masa Desember 2013, Bank CIMB Niaga article 23 and income tax article 21 for December
tidak mengajukan keberatan. 2013 period, Bank CIMB Niaga did not submit an
objection.
Atas PPh Badan Pasal 29, DJP telah menerbitkan For corporate income tax article 29, DGT has issued
Keputusan Keberatan pada tanggal 12 Februari 2019 an Objection Decision on 12 February 2019 which
yang menolak seluruh keberatan yang diajukan oleh rejected all of the objection submitted by Bank CIMB
Bank CIMB Niaga sebesar Rp 229.249. Bank CIMB Niaga amounting to Rp 229,249. Bank CIMB Niaga
Niaga telah mengajukan banding ke Pengadilan Pajak has submitted an appeal to the tax court on 23 April
pada tanggal 23 April 2019. Pada tanggal 2019. On 18 November 2020, the Tax Court decided
18 November 2020, Pengadilan Pajak telah to partially granted the appeal submitted by Bank
memutuskan sengketa PPh Badan Pasal 29 CIMB Niaga to be tax underpayment of Rp 78,427. Up
dimenangkan sebagian menjadi sebesar Rp 78.427 to the date of this report, Bank CIMB Niaga has not
dan sampai dengan tanggal laporan ini, pengembalian yet received the tax refund.
pajak belum diterima oleh Bank CIMB Niaga.
Atas PPh Pasal 4(2) masa Desember 2013, DJP telah For income tax article 4(2) of December 2013 period,
menerbitkan Keputusan Keberatan pada tanggal DGT has issued an Objection Decision on 29 January
29 Januari 2019, dan mengabulkan sebagian 2019, which granted part of the objection submitted by
keberatan yang diajukan oleh Bank CIMB Niaga yaitu Bank CIMB Niaga amounted to Rp 7,076. The tax
sebesar Rp 7.076. Pengembalian pajak telah diterima refund was received by Bank CIMB Niaga on
oleh Bank CIMB Niaga pada tanggal 14 Maret 2019. 14 March 2019. For rejected objection amounting to
Atas keberatan yang ditolak sebesar Rp 12.353, Bank Rp 12,353, Bank CIMB Niaga has submitted an
CIMB Niaga telah mengajukan banding ke Pengadilan appeal to tax court on 23 April 2019. On 18 November
Pajak pada tanggal 23 April 2019. Pada tanggal 2020, the Tax Court decided to partially granted the
18 November 2020, Pengadilan Pajak telah appeal submitted by Bank CIMB Niaga to be tax
memutuskan sengketa PPh Pasal 4(2) dimenangkan underpayment of Rp 10,584. Up to the date of this
sebagian menjadi sebesar Rp 10.584 dan sampai report, Bank CIMB Niaga has not yet received the tax
dengan tanggal laporan ini, pengembalian pajak belum refund.
diterima oleh Bank CIMB Niaga.
Atas PPh Pasal 26 masa Desember 2013, DJP telah For income tax article 26 for period of December
menerbitkan Keputusan Keberatan pada tanggal 2013, DGT has issued an Objection Decision on
29 Januari 2019 yang menolak seluruh keberatan 29 January 2019 which rejected all objection
yang diajukan oleh Bank CIMB Niaga dan menetapkan submitted by Bank CIMB Niaga with the tax
pajak lebih bayar sebesar Rp 34.526. Bank CIMB overpayment of Rp 34,526. Bank CIMB Niaga has
Niaga telah mengajukan banding ke Pengadilan Pajak submitted an appeal to tax court on 23 April 2019. On
pada tanggal 23 April 2019. Pada tanggal 18 November 2020, the Tax Court decided to partially
18 November 2020, Pengadilan Pajak telah granted the appeal submitted by Bank CIMB Niaga
memutuskan sengketa PPh Pasal 26 dimenangkan amounting to Rp 37,267 (become tax credit for income
sebagian sebesar Rp 37.267 (untuk menjadi kredit tax article 21) and Rp 3,400 become tax
pajak PPh Pasal 21) dan Rp 3.400 menjadi pajak underpayment for income tax article 26.
kurang bayar PPh Pasal 26.

Atas PPh Pasal 21 masa Januari 2013 hingga For income tax article 21 for January 2013 until
November 2013, DJP telah menerbitkan Keputusan November 2013 period, DGT has issued an Objection
Keberatan pada tanggal 31 Desember 2018 yang Decision on 31 December 2018 which granted partially
mengabulkan sebagian keberatan dengan total jumlah with total granted amount of Rp 1,391. The refund of
yang dikabulkan sebesar Rp 1.391. Pengembalian the tax was received by Bank CIMB Niaga during
pajak tersebut telah diterima oleh Bank CIMB Niaga February 2019. Bank CIMB Niaga only filed an appeal
selama Februari 2019. Pada tanggal 27 Maret 2019, to the Tax Court for period March 2013 amounting to
Bank CIMB Niaga hanya mengajukan banding ke Rp 55,156. On 18 November 2020, the Tax Court
Pengadilan Pajak untuk masa Maret 2013 sebesar Rp decided to fully granted the appeal submitted by Bank
55.156. Pada tanggal 18 November 2020, Pengadilan CIMB Niaga amounting to Rp 55,156. Up to the date of
Pajak telah memutuskan sengketa PPh Pasal 21 this report, Bank CIMB Niaga has not yet received the
dimenangkan seluruhnya oleh Bank CIMB Niaga yaitu tax refund.
sebesar Rp 55.156 dan sampai dengan tanggal
laporan ini, pengembalian pajak belum diterima oleh
Bank CIMB Niaga.
Atas PPN, DJP menerbitkan Keputusan Keberatan For VAT, DGT has issued an Objection Decision on
pada tanggal 29 Januari 2019 yang mengabulkan 29 January 2019 which granted partialy with total
sebagian keberatan dengan jumlah yang dikabulkan granted amount of Rp 663. The refund of the tax was
sebesar Rp 663. Pengembalian atas pajak tersebut received by Bank CIMB Niaga on 25 February 2019.
telah diterima oleh Bank CIMB Niaga pada tanggal For rejected objection amounting to Rp 4,908, Bank
25 Februari 2019. Atas keberatan yang ditolak sebesar CIMB Niaga has submitted an appeal to tax court on 23
Rp 4.908, Bank CIMB Niaga telah mengajukan banding April 2019. On 18 November 2020, the Tax Court
ke Pengadilan Pajak pada tanggal 23 April 2019. Pada decided to fully granted the appeal submitted by Bank
tanggal 18 November 2020, Pengadilan Pajak telah CIMB Niaga amounting to Rp 4,908. Up to the date of
memutuskan sengketa PPN dimenangkan seluruhnya this report, Bank CIMB Niaga has not yet received the
yaitu sebesar Rp 4.908 dan sampai dengan tanggal tax refund.
laporan ini, pengembalian pajak belum diterima oleh
Bank CIMB Niaga.
Bank CIMB Niaga mengajukan permohonan restitusi Bank CIMB Niaga requested to refund the tax
atas kelebihan pembayaran Pajak Penghasilan Badan overpayment of corporate income tax article 29 for
Pasal 29 untuk tahun fiskal 2014 sebesar Rp 82.661. fiscal year 2014 amounting to Rp 82,661. On 28 April
Pada tanggal 28 April 2016, DJP menerbitkan Surat 2016, DGT issued tax assessment letter based on an
Ketetapan Pajak berdasarkan pemeriksaan atas SPT tax audit of the corporate income tax article 29 for the
lebih bayar Pajak Penghasilan Badan Pasal 29 fiscal year 2014 that was in an overpayment position,
tersebut dengan jumlah pajak yang masih harus with total tax underpayment amounting to Rp 209,732.
dibayar sebesar Rp 209.732.
Bank CIMB Niaga telah melakukan evaluasi atas Surat Bank CIMB Niaga has evaluated the tax assessment
Ketetapan Pajak tersebut dan berpendapat bahwa letter and Bank CIMB Niaga did not agree on all of the
Bank CIMB Niaga tidak setuju atas seluruh temuan findings. Based on this consideration, on 21 July 2016,
tersebut. Atas dasar ini juga, Bank CIMB Niaga Bank CIMB Niaga decided to only pay to the tax office
memutuskan untuk hanya membayar sebagian kurang some of the underpayment amounting to Rp 37,086.
bayar pajak tersebut sebesar Rp 37.086 pada tanggal The Bank CIMB Niaga has submitted an objection to
21 Juli 2016. Bank CIMB Niaga telah mengajukan DGT on 21 July 2016.
keberatan kepada DJP pada tanggal 21 Juli 2016
Pada tanggal 17 Juli 2017, DJP telah menerbitkan On 17 July 2017, DGT has issued Objection Decision
Keputusan Keberatan yang menolak seluruh letter which rejected all the objection submitted by
keberatan yang diajukan oleh Bank CIMB Niaga. Bank CIMB Niaga.

Pada tanggal 12 Oktober 2017, Bank CIMB Niaga On 12 October 2017, Bank CIMB Niaga has submitted
telah mengajukan Banding atas Keputusan Keberatan an appeal to the Tax Court against the tax Objection
tersebut kepada Pengadilan Pajak. Pada tanggal Decision. On 28 August 2020, the Tax Court decided
28 Agustus 2020, Pengadilan Pajak telah memutuskan to partially granted the appeal submitted by Bank
dan mengabulkan sebagian banding yang diajukan CIMB Niaga amounting to Rp 16,691. For the appeal
oleh Bank CIMB Niaga yaitu sebesar Rp 16.691. Atas that was rejected by the Tax Court amounting to
sengketa banding yang tidak dikabulkan oleh Rp 193,041, Bank CIMB Niaga submitted
Pengadilan Pajak sebesar Rp 193.041, Bank CIMB Reconsideration Review to Supreme Court on
Niaga telah mengajukan Peninjauan Kembali kepada 25 November 2020.
Mahkamah Agung pada tanggal 25 November 2020.
Bank CIMB Niaga mengajukan permohonan restitusi Bank CIMB Niaga requested to refund the tax
atas kelebihan pembayaran Pajak Penghasilan Badan overpayment of corporate income tax article 29 for
Pasal 29 untuk tahun fiskal 2015 sebesar Rp 210.671. fiscal year 2015 amounting to Rp 210,671.
Pada tanggal 18 April 2017, DJP menerbitkan Surat On 18 April 2017, DGT has issued tax assessment
Ketetapan Pajak berdasarkan pemeriksaan atas SPT letters on corporate income tax article 29 with total
lebih bayar Pajak Penghasilan Badan Pasal 29 overpayment tax amounting to Rp 12,772.
tersebut dengan jumlah pajak lebih bayar sebesar
Rp 12.772.
Pada tanggal 28 April 2017 telah dikeluarkan Surat On 28 April 2017, DGT has issued tax assessment
Ketetapan Pajak untuk PPh 21, PPh 21 final, 23, 26, letters on several taxes with total underpayment
4 (2), dan PPN dengan total jumlah kurang bayar amounting to Rp 47,879. On 23 May 2017, Bank CIMB
pajak sebesar Rp 47.879. Pada tanggal 23 Mei 2017, Niaga has paid the remaining net amount of
Bank CIMB Niaga telah melakukan pembayaran underpayment amounted to Rp 35,107 which has been
kurang bayar pajak bersih sebesar Rp 35.107 yang recorded as prepaid taxes.
dicatat pada akun uang muka pajak.
Atas PPh Badan Pasal 29, pada tanggal 11 Juli 2017, For corporate income tax article 29, on 11 July 2017,
Bank CIMB Niaga mengajukan keberatan kepada Bank CIMB Niaga has submitted an objection of the tax
DJP. Pada tanggal 22 Juni 2018, DJP menerbitkan assessment result to DGT. On 22 June 2018, DGT has
Keputusan Keberatan yang menolak seluruhnya issued their Objection Decision which rejected all
keberatan yang diajukan oleh Bank CIMB Niaga. Bank objection submitted by Bank CIMB Niaga. Bank CIMB
CIMB Niaga telah mengajukan banding ke Pengadilan Niaga has submitted an appeal to the Tax Court on
Pajak pada tanggal 19 September 2018 dan sampai 19 September 2018 and up to the date of this report,
dengan tanggal laporan ini masih belum ada putusan there has been no decision from tax court.
dari Pengadilan Pajak.
Atas PPh Pasal 4(2), pada tanggal 25 Juli 2017, Bank For income tax article 4(2), on 25 July 2017, Bank
CIMB Niaga mengajukan keberatan kepada DJP CIMB Niaga has submitted an objection to the DGT for
sebesar Rp 13.585. Pada tanggal 11 Juli 2018, DJP income tax article 4(2) amounting to Rp 13,585.
menerbitkan Keputusan Keberatan yang mengabulkan On 11 July 2018, DGT has issued Objection Decision
sebagian atas keberatan tersebut sebesar Rp 7.495. of tax article 4(2) which granted part of the objection
Pengembalian pajak tersebut telah diterima oleh Bank amounting to Rp 7,495. The refund of the tax was
CIMB Niaga pada tanggal 26 Maret 2019. Pada received by Bank CIMB Niaga on 26 March 2019.
tanggal 5 Oktober 2018, Bank CIMB Niaga On 5 October 2018, Bank CIMB Niaga has submitted
mengajukan banding ke Pengadilan Pajak atas an appeal to the Tax Court for part of dispute that has
sebagian sengketa yang ditolak dalam proses been rejected amounting to Rp 6,090 and up to the
keberatan sebesar Rp 6.090 dan sampai dengan date of this report, there has been no decision from tax
tanggal laporan ini masih belum ada putusan dari court.
Pengadilan Pajak.

Atas PPN, pada tanggal 25 Juli 2017 Bank CIMB For VAT, on 25 July 2017 Bank CIMB Niaga has
Niaga mengajukan keberatan kepada DJP atas PPN submitted objection to the DGT on VAT period of
masa Maret, September, November, dan Desember March, September, November, and December 2015.
2015. Pada tanggal 11 Juli 2018, DJP menerbitkan On 11 July 2018, DGT has issued Objection Decision
Keputusan Keberatan yang mengabulkan seluruhnya which granted all the objection for value added tax
keberatan atas PPN masa Maret, September, dan period of March, September, and November 2015,
November 2015 dan mengabulkan sebagian PPN while for VAT period of December 2015, DGT has
masa Desember 2015. Jumlah pajak yang dikabulkan granted the objection partially. The total granted
oleh DJP adalah sebesar Rp 1.789. Pengembalian amount by the DGT was amounting to Rp 1,789. The
pajak tersebut telah diterima oleh Bank CIMB Niaga refund was received by Bank CIMB Niaga amounted to
pada tanggal 29 Januari 2019 sebesar Rp 570 dan Rp 570 on 29 January 2019 and Rp 1,219 on 25 March
sebesar Rp 1.219 pada tanggal 25 Maret 2019. Atas 2019. For the dispute on objection that has been
sengketa PPN yang ditolak dalam proses keberatan rejected amounting to Rp 15,087, Bank CIMB Niaga
sebesar Rp 15.087, Bank CIMB Niaga telah has submitted an appeal to the Tax Court on 5 October
mengajukan banding ke Pengadilan Pajak pada 2018 and up to the date of this report, there has been
tanggal 5 Oktober 2018 dan sampai dengan tanggal no decision from tax court.
laporan ini masih belum ada putusan dari Pengadilan
Pajak.

Pada tanggal 13 Desember 2019, DJP menerbitkan On 13 December 2019, DGT issued tax assessment
Surat Ketetapan Pajak Kurang Bayar yang letters stated that Bank CIMB Niaga’s underpayment
menyatakan bahwa Bank CIMB Niaga kurang amounting to Rp 623,616 are regarding corporate
membayar pajak sebesar Rp 623.616 atas PPh Badan income tax, income tax article 21, income tax article 21
Pasal 29, PPh Pasal 21, PPh Pasal 21 Final, PPh final, income tax article 23, income tax article 26,
Pasal 23, PPh Pasal 26, PPh Pasal 4(2), PPN dan income tax article 4(2), VAT and self-assessed VAT.
PPN Jasa Luar Negeri. Pada tanggal 30 Desember On 30 December 2019, Bank CIMB Niaga has partially
2019, Bank CIMB Niaga telah melakukan pembayaran paid the underpayment tax assessment letters
sebagian atas pajak yang kurang dibayar sebesar amounting to Rp 409,815. On 3 March 2020 and
Rp 409.815. Pada tanggal 3 Maret 2020 dan 6 Maret 6 March 2020, Bank CIMB Niaga partially paid the
2020, Bank CIMB Niaga melakukan pembayaran atas underpayment tax assessment letters for VAT and and
pajak yang kurang dibayar untuk Surat Ketetapan self-assessed VAT amounting to Rp 611 and Rp 721
Pajak PPN dan PPN Jasa Luar Negeri sebesar respectively. Based on tax audit result, Bank CIMB
masing-masing Rp 666 dan Rp 721. Atas hasil Niaga has submitted the objection letters on 10 March
pemeriksaan tersebut, Bank CIMB Niaga telah 2020.
mengajukan keberatan pada tanggal 10 Maret 2020.

Pada tanggal 29 Desember 2020, DJP telah On 29 December 2020, the DGT issued Objection
menerbitkan Keputusan Keberatan untuk sengketa Decisions for self-assessed VAT and decided to fully
PPN Jasa Luar Negeri dan memutuskan untuk granted the objection submitted by Bank CIMB Niaga
mengabulkan seluruhnya keberatan yang diajukan with the total winning amount of Rp 9,752.
oleh Bank CIMB Niaga sebesar total Rp 9.752.
Entitas Anak – CNAF Subsidiaries - CNAF
Tahun fiskal 2011 dan 2012 Fiscal Year 2011 and 2012
Pada tanggal 19 Desember 2014, telah dikeluarkan On 19 December 2014, tax assessment letters has
Surat Ketetapan Pajak Kurang Bayar atas PPh Badan been issued on corporate income tax article 29, income
Pasal 29, PPh Pasal 23 dan PPh Pasal 4(2), dan PPN tax article 23 and income tax article 4(2), and Value
tahun 2011 dengan jumlah kurang bayar sebesar Added Tax for the year 2011 with total underpayment
Rp 75.089, dan Surat Ketetapan Pajak Kurang Bayar amounting to Rp 75,089, and has issued tax
atas PPh Badan Pasal 29, PPh Pasal 23 dan PPN assessment letters on corporate income tax article 29,
tahun 2012 dengan jumlah kurang bayar sebesar Rp income tax article 23 and Value Added Tax for the year
98.927. Pada tanggal 16 Januari 2015, PT CIMB 2012 with total underpayment amounting to Rp 98,927.
Niaga Auto Finance (CNAF) telah melakukan seluruh On 16 January 2015, CNAF has paid all payment
pembayaran sebesar Rp 174.016 (termasuk denda amounting to Rp 174,016 (including penalty and
dan sanksi administrasi). Kurang bayar pajak sebesar administrative charges). The underpayment of tax
Rp 174.016 tersebut dicatat masing-masing sebesar amounted to Rp 174,016 has been recorded as
Rp 170.994 pada akun uang muka pajak dan Rp 2.000 prepaid taxes, income tax expense and other expenses
pada akun beban pajak penghasilan serta Rp 1.022 in 2014 amounted to Rp 170,994, Rp 2,000 and
pada akun beban lain-lain di tahun 2014. Pada tanggal Rp 1,022, respectively. On 5 March 2019, CNAF has
5 Maret 2019, CNAF telah menerima pembayaran received payment amounting Rp 395 for overpayment
kelebihan bayar sejumlah Rp 395 atas PPh Badan of corporate income Tax Article 29 for the year 2011.
Pasal 29 tahun 2011.
Pada tanggal 18 Maret 2015, CNAF telah mengajukan On 18 March 2015, CNAF has submitted objection on
keberatan atas Surat Ketetapan Pajak Kurang Bayar Tax Assessment Letter on corporate income tax article
atas PPh Badan Pasal 29 dan PPN tahun 2011 dan 29 and Value Added Tax for 2011 and 2012 amounting
2012 sebesar Rp 170.994. Atas PPh Pasal 23 dan to Rp 170,994. For income tax article 23 and income
PPh Pasal 4(2), CNAF tidak mengajukan keberatan tax article 4(2), CNAF did not submit objection
sebesar Rp 3.022. Pada tanggal 28 Desember 2015, amounting to Rp 3,022. On 28 December 2015,
1 Februari 2016 dan 14 Maret 2016, CNAF telah 1 February 2016 and 14 March 2016, CNAF has
menerima surat keputusan atas keberatan pajak 2011 received the decision letter on the tax objection for
dan 2012 yang menyatakan bahwa keberatan pajak fiscal year 2011 and 2012, that stated the tax objection
tidak dikabulkan. Atas keputusan ini, CNAF telah was rejected. Regarding this decision, CNAF has
mengajukan banding pajak ke Pengadilan Pajak pada submitted the tax appeal to Tax Court on 24 March
tanggal 24 Maret 2016, 29 April 2016 dan 9 Juni 2016. 2016, 29 April 2016 and 9 June 2016.

Entitas Anak – CNAF(lanjutan) Subsidiaries – CNAF (continued)
Tahun fiskal 2011 dan 2012 (lanjutan) Fiscal Year 2011 and 2012 (continued)
Pada tanggal 7 November 2017, Pengadilan Pajak On 7 November 2017, decision letter from Tax Court
telah mengeluarkan keputusan sengketa PPN tahun regarding dispute of Value Added Tax year 2011 and
2011 dan 2012 dimana Pengadilan Pajak menolak 2012 has been issued and Tax Court rejected all the
seluruhnya atas permohonan banding yang diajukan appeal submitted by CNAF. CNAF has submitted
oleh CNAF. CNAF telah mengajukan Memo Memo of Judicial Review to Supreme Court on
Peninjauan Kembali (PK) ke tingkat Mahkamah Agung 7 February 2018. On 3 September 2018, CNAF has
pada tanggal 7 Februari 2018. Pada tanggal received a decision letter regarding accepted appeal of
3 September 2018, CNAF telah menerima surat Judicial Review to Supreme Court for dispute of Value
putusan permohonan PK di MA yang menyatakan Added Tax year 2011 and 2012.
bahwa permohonan PK atas PPN Masa Tahun 2011
dan Tahun 2012 telah dikabulkan.
Sengketa PPN tahun 2011 dan 2012 telah Value Added Tax disputes in 2011 and 2012 were
dimenangkan oleh CNAF di tingkat Mahkamah Agung entirely won by CNAF in Supreme Court and for Value
dan untuk PPN Masa Januari 2011 dan Masa Added Tax disputes on January 2011 and September
September 2012 telah dinyatakan menang tanggal 2012 declared win on 14 June 2019. For the case won
14 Juni 2019. Atas kasus yang dimenangkan CNAF by CNAF, the refund was received by CNAF amounting
tersebut, pengembaliannya diterima oleh CNAF to Rp 127,413 from 20 February 2019 to 26 April 2019
sebesar Rp 127.413 dari tanggal 20 Februari 2019 except for Value Added Tax for the period January
sampai dengan 26 April 2019 kecuali untuk PPN Masa 2011 and September 2012, until the date of this report
Januari 2011 dan September 2012, hingga tanggal the refund has not yet been received.
laporan ini pengembaliannya masih belum diterima.
Pada tanggal 12 Juni 2019, DJP mengajukan Memo On 12 June 2019, DGT submitted the Memo Judicial
Peninjauan Kembali 2 (PK 2) atas kasus PPN Tahun Review 2 (PK 2) for dispute of Value Added Tax year
2011 dan Tahun 2012 yang telah dimenangkan oleh 2011 and 2012 that was previously won by CNAF. On
CNAF sebelumnya. Pada tanggal 20 Juni 2019 dan 20 June 2019 and 21 June 2019, CNAF received
21 Juni 2019, CNAF menerima Surat Permohonan Judicial Review Letter 2 (PK 2) submitted by DGT for
Peninjauan Kembali 2 (PK 2) yang diajukan oleh DJP dispute of Value Added Tax year 2011 and 2012. Until
atas sengketa PPN Tahun 2011 dan Tahun 2012. the date of this report, the Judicial Review was still in
Sampai dengan tanggal laporan ini, proses Peninjauan process.
Kembali masih berlangsung.
Untuk sengketa PPh Badan Pasal 29 telah For the dispute of corporate income tax article 29 has
dimenangkan oleh CNAF di tingkat Mahkamah Agung won by CNAF at the Supreme Court level on
pada tanggal 26 September 2019. 26 September 2019.
Tahun fiskal 2013 Fiscal Year 2013

Pada tanggal 25 Januari 2018, Direktorat Jenderal On 25 January 2018, Directorate General of Tax (DGT)
Pajak (DJP) telah mengeluarkan Surat Ketetapan has issued tax assessment letters (SKPKB) PT CIMB
Pajak Kurang Bayar (SKPKB) PT CIMB Niaga Auto Niaga Auto Finance (CNAF) on corporate income tax
Finance (CNAF) atas PPh Badan Pasal 29, PPh Pasal article 29, income tax article 23 and value added tax for
23 dan PPN tahun 2013 dengan jumlah kurang bayar the year 2013 with total underpayment amounting to
sebesar Rp 103.459. Pada tanggal 21 Februari 2018, Rp 103,459. On 21 February 2018, CNAF paid all of
CNAF telah melakukan seluruh pembayaran. this amounts.

Entitas Anak – CNAF (lanjutan) Subsidiaries – CNAF (continued)
Tahun fiskal 2013 (lanjutan) Fiscal Year 2013 (continued)
Atas SKPKB tersebut, pada tanggal 5 April 2018, On these tax assessments, on 5 April 2018, CNAF has
CNAF telah mengajukan keberatan ke DJP sebesar appealed to the DGT amounting to Rp 103,196 related
Rp 103.196 atas SKPKB PPh Badan Pasal 29 dan to the tax assessment letter for SKPKB on corporate
PPN. income tax article 29 and VAT.
Pada 6 Februari 2019, DJP telah mengeluarkan On 6 February 2019, decision letter from DGT has
keputusan keberatan atas PPh Badan Pasal 29 dan been received for corporate income tax article 29 and
PPN dimana DJP menolak seluruh keberatan yang Value Added Tax where DGT has rejected all
diajukan oleh CNAF. Atas keputusan ini, CNAF telah objections. Regarding this decision, CNAF has
mengajukan banding ke Pengadilan Pajak. Pada appealed to the Tax Court. On 15 December 2020, Tax
15 Desember 2020, Pengadilan Pajak telah Court has decided the dispute of corporate income tax
memutuskan sengketa PPh Badan yang dimenangkan which was entirely won by CNAF, amounting to
seluruhnya oleh CNAF, yaitu sebesar Rp 4.805 dan Rp 4,805 and the refund has been received by CNAF
pengembalian telah diterima oleh CNAF pada tanggal on 2 February 2021.
2 Februari 2021.
Pada tanggal 4 Desember 2019, telah dikeluarkan On 4 December 2019, tax assessment letters (SKPKB)
Surat Ketetapan Pajak Kurang Bayar (SKPKB) atas has been issued on corporate income tax article 29,
PPh Badan Pasal 29, PPN, PPh 21, PPh 23 dan PPh Value Added Tax, income tax article 21, income tax
4 (2) untuk tahun pajak 2015 dengan jumlah kurang article 23 and income tax article 4 (2) for fiscal year
bayar sebesar Rp 101.055. Pada tanggal 2015 with total underpayment amounting to
27 Desember 2019, CNAF telah melakukan Rp 101,055. On 27 December 2019, CNAF has paid
pembayaran sebagian atas SKPKB tahun pajak 2015 some of the SKPKB for fiscal year 2015 amounting to
sebesar Rp 65.759. Pada tanggal 3 Januari 2020, Rp 65,759. On 3 January 2020, CNAF has paid the
CNAF telah melakukan seluruh pembayaran atas remaining amount of SKPKB for fiscal year 2015
SKPKB tahun pajak 2015 sebesar Rp 35.296. Atas amounting to Rp 35,296. On these tax assessments,
SKPKB tersebut, pada tanggal 3 Maret 2020, CNAF on 3 March 2020, CNAF has appealed to the DGT.
telah mengajukan keberatan ke DJP.
Pada tanggal 9 Desember 2019, telah dikeluarkan On 9 December 2019, tax assessment letters (SKPKB)
Surat Ketetapan Pajak Kurang Bayar (SKPKB) atas has been issued on corporate income tax article 29,
PPh Badan Pasal 29, PPN, PPh 21, PPh 23 dan PPh Value Added Tax, withholding tax article 21,
4 (2) untuk tahun pajak 2016 dengan dengan jumlah withholding tax article 23 and withholding tax article 4
kurang bayar sebesar Rp 140.373. Pada tanggal (2) for fiscal years 2016 with total underpayment
27 Desember 2019, CNAF telah melakukan amounting to Rp 140,373. On 27 December 2019,
pembayaran sebagian atas SKPKB tahun pajak 2016 CNAF has paid some of the SKPKB for fiscal year
sebesar Rp 14.418. Pada tanggal 8 Januari 2020, 2016 amounting to Rp 14,418. On 8 January 2020,
CNAF telah melakukan seluruh pembayaran atas CNAF has paid the remaining amount of SKPKB for
SKPKB tahun pajak 2016 sebesar Rp 125.955. Atas fiscal year 2016 amounting to Rp 125,955. On these
SKPKB tersebut, pada tanggal 6 Maret 2020, CNAF tax assessments, on 6 March 2020, CNAF has
telah mengajukan keberatan ke DJP. appealed to the DGT.

Entitas Anak – CNAF ex KITAF Subsidiaries – CNAF ex KITAF
Tahun fiskal 2010, 2011, dan 2012 Fiscal Year 2010, 2011, and 2012
Pada tanggal 26 Agustus 2015, 9 Oktober 2015, dan On 26 August 2015, 9 October 2015, and 17 December
17 Desember 2015, CNAF telah melakukan seluruh 2015, CNAF paid all of this amounts. The
pembayaran. Kurang bayar pajak sebesar Rp 41.577 underpayment of tax amounted to Rp 41,577 has been
tersebut dicatat masing-masing sebesar Rp 41.328 recorded as prepaid taxes and other expenses in 2015
pada akun uang muka pajak dan Rp 249 pada akun amounted to Rp 41,328 and Rp 249, respectively. On
beban lain-lain tahun 2015. Atas SKPKB tersebut, these tax assessments, on 10 November 2015,
pada tanggal 10 November 2015, 7 Desember 2015, 7 December 2015, and 31 December 2015, CNAF has
dan 31 Desember 2015, CNAF telah mengajukan appealed to the Directorate General of Tax (DGT).
keberatan ke Direktorat Jenderal Pajak (DJP).
Pada November dan Desember 2016, CNAF telah In November and December 2016, CNAF has received
menerima surat keputusan atas keberatan tahun pajak the decision letter on the tax objection for fiscal year
2010, 2011, dan 2012 yang menyatakan bahwa 2010, 2011, and 2012, that stated the tax objection
keberatan pajak tidak dikabulkan. Atas keputusan ini, was rejected. Regarding this decision, CNAF has
CNAF telah mengajukan banding pajak ke Pengadilan submitted the tax appeal to Tax Court on 2 February
Pajak pada tanggal 2 Februari 2017, 6 Februari 2017, 2017, 6 February 2017, 14 February 2017, and
14 Februari 2017, dan 16 Februari 2017. 16 February 2017.
Pada tanggal 19 Desember 2017 dan 12 Desember On 19 December 2017 and 12 December 2017,
2017, DJP telah mengeluarkan keputusan sengketa decision letter from DGT regarding dispute of ex KITAF
PPN ex KITAF untuk tahun 2010, 2011 dan 2012 Value Added Tax year 2010, 2011 and 2012 has been
dimana DJP menolak seluruhnya atas permohonan received and DGT rejected all objection submitted by
banding yang diajukan oleh CNAF. Atas keputusan ini, CNAF. Regarding this decision, CNAF has submitted
CNAF telah mengajukan Peninjauan Kembali (PK) ke Judicial Review (PK) to the Supreme Court on
Mahkamah Agung pada tanggal 13 Maret 2018. Pada 13 March 2018. During October 2018 and May 2019,
bulan Oktober 2018 sampai dengan Mei 2019, CNAF CNAF has received decision letter from Supreme Court
telah menerima surat putusan permohonan PK di MA on the PK for that won dispute for VAT year 2010,
yang mengabulkan permohonan Peninjauan Kembali 2011 and 2012, except VAT dispute for period
(PK) atas PPN Tahun 2010, 2011 dan 2012, kecuali November 2010 that still waiting for Supreme Court
untuk PPN masa November 2010 yang masih decision. For thus dispute that won by CNAF, CNAF
menunggu putusan MA. Atas kasus yang received payment only from tax dispute for VAT period
dimenangkan CNAF tersebut, pengembaliannya telah December 2010 amounting to Rp 916 on 28 June
diterima CNAF hanya dari PPN Masa Desember 2010 2019.
sebesar Rp 916 pada tanggal 28 Juni 2019.
Peninjauan Kembali 2 (PK 2) atas kasus PPN Masa Review 2 (PK 2) for dispute of Value Added Tax year
Tahun 2010, 2011 dan 2012 yang telah dimenangkan 2010, 2011 and 2012 that was previously won by
oleh CNAF sebelumnya. Pada tanggal 20 Juni 2019 CNAF. On 20 June 2019 and 21 June 2019 CNAF
dan 21 Juni 2019, CNAF menerima Surat received Judicial Review Letter 2 (PK 2) submitted by
Permohonan Peninjauan Kembali 2 (PK 2) dari DJP DGT for dispute of Value Added Tax year 2010, 2011
atas PPN Masa Tahun 2010, Tahun 2011 dan Tahun and 2012. Until the date of this report, the Judicial
2012. Hingga tanggal laporan ini, proses Peninjauan Review was still in process.
Kembali masih berlangsung.

Entitas Anak – CNAF ex KITAF (lanjutan) Subsidiaries – CNAF ex KITAF (continued)
Tahun fiskal 2010, 2011, dan 2012 (lanjutan) Fiscal Year 2010, 2011, and 2012 (continued)
Atas PPh Badan Pasal 29, Pengadilan Pajak telah For corporate income tax article 29, Tax Court has
memutuskan sengketa PPh Badan yang dimenangkan decided the dispute of corporate income tax which was
seluruhnya oleh CNAF, yaitu sebesar Rp 10.159 dan entirely won by CNAF, amounting to Rp 10,159 and the
pengembalian telah diterima oleh CNAF pada tanggal refund has been received by CNAF on 7 December
7 Desember 2018 dan 10 Desember 2018. Direktorat 2018 and 10 December 2018. Directorate General of
Jenderal Pajak (DJP) telah mengajukan Memo Taxation (DGT) has submitted Memo of Judicial
Peninjauan Kembali ke tingkat Mahkamah Agung atas Review to Supreme Court for this corporate income tax
PPh Badan Pasal 29 tersebut. Pada tanggal article 29. On 2 December 2019, CNAF has won the
2 Desember 2019, CNAF telah memenangkan dispute of corporate income tax article 29 at the
sengketa atas PPh Badan Pasal 29 di tingkat Supreme Court level for tax year 2010, 2011 and 2012.
Mahkamah Agung untuk tahun pajak 2010, 2011 dan
2012.
Pada tanggal 8 Januari 2016, telah dikeluarkan Surat On 8 January 2016, tax assessment letters (SKPKB)
Ketetapan Pajak Kurang Bayar (SKPKB) atas PPh on corporate income tax article 29 and value added tax
Badan Pasal 29 dan PPN untuk tahun pajak 2013 for fiscal years 2013 on PT Kencana Internusa Artha
PT Kencana Internusa Artha Finance (efektif 1 Januari Finance (effective on 1 January 2016, KITAF merged
2016, KITAF bergabung ke CNAF) dengan total pajak to CNAF) have been issued with total taxes amounting
yang masih harus dibayar sebesar Rp 26.921, dan Rp 26,921, and on 7 February 2016, CNAF has paid all
pada tanggal 7 Februari 2016, CNAF telah melakukan of this amounts. On these tax assessments, on
seluruh pembayaran. Atas SKPKB tersebut, pada 1 April 2016, CNAF has appealed to the Directorat
tanggal 1 April 2016, CNAF telah mengajukan General of Tax (DGT). The underpayment of tax
keberatan ke Direktorat Jenderal Pajak (DJP). Kurang amounted to Rp 26,921 has been recorded as prepaid
bayar pajak sebesar Rp 26.921 tersebut dicatat pada taxes in 2016.
akun uang muka pajak tahun 2016.
Pada tanggal 2 Desember 2016, 7 Desember 2016, On 2 December 2016, 7 December 2016, 8 December
8 Desember 2016, 20 Desember 2016, 21 Desember 2016, 20 December 2016, 21 December 2016,
2016, 5 Januari 2017, 30 Maret 2017 dan 3 April 2017, 5 January 2017, 30 March 2017 and 3 April 2017,
CNAF telah menerima surat keputusan atas keberatan CNAF has received the decision letter on the tax
tahun pajak 2013 yang menyatakan bahwa keberatan objection for fiscal year 2013 that stated that the tax
pajak tidak dikabulkan. Atas keputusan ini, CNAF telah objection was rejected. Regarding this decision, the
mengajukan banding pajak ke Pengadilan Pajak pada Company has submitted the tax appeal to Tax Court on
tanggal 13 Februari 2017 dan 21 Juni 2017. 13 February 2017 and 21 June 2017.

Tahun fiskal 2013 (lanjutan) Fiscal Year 2013 (continued)
Pada tanggal 19 Desember 2017, DJP telah On 19 December 2017, decision letter from DGT
mengeluarkan keputusan atas sengketa PPN ex regarding dispute of ex KITAF Value Added Tax year
KITAF untuk tahun 2013 dimana DJP menolak 2013 has been received and DGT rejected all the
seluruhnya atas permohonan banding yang diajukan objection submitted by CNAF. On 11 July 2018
oleh CNAF. Pada tanggal 11 Juli 2018 Pengadilan decision letter from Tax Court regarding dispute of
Pajak telah mengeluarkan keputusan sengketa PPN Value Added Tax year 2013 has been received and
tahun 2013 dimana Pengadilan Pajak menolak Tax Court rejected all the objection. For this case,
seluruhnya atas permohonan banding yang diajukan CNAF has submitted Memo of Judicial Review to
oleh CNAF. Atas hal ini, CNAF telah mengajukan Supreme Court. During 29 October 2018 until 15 March
Memo Peninjauan Kembali ke tingkat Mahkamah 2019, CNAF received decision letter from Supreme
Agung. Pada tanggal 29 Oktober 2018 sampai dengan Court that won those disputes except VAT Dispute for
15 Maret 2019 CNAF telah menerima surat putusan Period February and March 2013, until the date of this
MA yang menyatakan bahwa permohonan Peninjauan report, the decision has not been known yet. Until the
Kembali CNAF telah dikabulkan kecuali untuk date of this report, the refund has not yet been
sengketa PPN Masa Februari dan Maret Tahun 2013, received.
hingga tanggal laporan ini hasil keputusan MA masih
belum diketahui. Hingga tanggal laporan ini
pengembaliannya masih belum diterima.
Peninjauan Kembali 2 (PK 2) atas kasus PPN Masa Review 2 (PK 2) for dispute of Value Added Tax year
Tahun 2013 yang telah dimenangkan oleh CNAF 2013 that was previously won by CNAF. On 20 June
sebelumnya. Pada tanggal 20 Juni 2019 dan 21 Juni 2019 and 21 June 2019 CNAF received Judicial
2019, CNAF menerima Surat Permohonan Peninjauan Review Letter 2 (PK 2) for dispute of Value Added Tax
Kembali 2 (PK 2) atas PPN Masa Tahun 2013. Hingga year 2013. Until the date of this report, the Judicial
tanggal laporan ini, proses Peninjauan Kembali masih Review was still in process.
berlangsung.
Atas PPh Badan Pasal 29, Pengadilan Pajak telah For corporate income tax article 29, Tax Court has
memutuskan sengketa PPh Badan yang dimenangkan decided the dispute of corporate income tax which was
seluruhnya oleh CNAF, yaitu sebesar Rp 4.745 dan entirely won by CNAF, amounting to Rp 4,745 and the
pengembalian telah diterima oleh CNAF pada tanggal refund has been received by CNAF on 10 December
10 Desember 2018. Direktorat Jenderal Pajak (DJP) 2018. Directorate General of Taxation (DGT) has
telah mengajukan Memo Peninjauan Kembali ke submitted Memo of Judicial Review to Supreme Court
tingkat Mahkamah Agung atas PPh Badan Pasal 29 for this corporate income tax article 29. On 2 December
tersebut. Pada tanggal 2 Desember 2019, CNAF telah 2019, CNAF has won the dispute of corporate income
memenangkan sengketa atas PPh Badan Pasal 29 di tax article 29 at the Supreme Court level for tax year
tingkat Mahkamah Agung untuk tahun pajak 2013. 2013.

Pada tanggal 18 April 2016, telah dikeluarkan Surat On 18 April 2016, tax assessment letters (SKPLB) for
Ketetapan Pajak Lebih Bayar (SKPLB) atas hasil Corporate Income Tax for fiscal years 2014 on
pemeriksaan pajak penghasilan badan tahun pajak PT Kencana Internusa Artha Finance (effective on
2014 PT Kencana Internusa Artha Finance (efektif 1 January 2016, KITAF merged to CNAF) have been
1 Januari 2016, KITAF bergabung ke CNAF) dengan issued with total overpayment tax amount being
total lebih bayar pajak sebesar Rp 3.482 yang telah Rp 3,482 which fully received.
diterima penuh.
Pada tanggal 27 Desember 2016, telah dikeluarkan On 27 December 2016, tax assessment letters
Surat Ketetapan Pajak Kurang Bayar (SKPKB) atas (SKPKB) for Value Added Tax for fiscal years 2014 on
hasil pemeriksaan Pajak Pertambahan Nilai tahun PT Kencana Internusa Artha Finance (CNAF) have
pajak 2014 PT Kencana Internusa Artha Finance been issued with total taxes amounting Rp 4,104, and
(CNAF) dengan total pajak yang masih harus dibayar on 26 January 2017, CNAF paid all of this amounts. On
sebesar Rp 4.104, dan pada tanggal 26 Januari 2017, these tax assessments, on 21 March 2017, CNAF has
CNAF telah melakukan seluruh pembayaran. Atas appealed to the DGT. The underpayment of tax
SKPKB tersebut, pada tanggal 21 Maret 2017, CNAF amounted to Rp 4,104 has been recorded as prepaid
telah mengajukan keberatan ke DJP. Kurang bayar taxes in 2017.
pajak sebesar Rp 4.104 tersebut dicatat pada akun
uang muka pajak tahun 2017.
Pada tanggal 24 November 2017, Direktorat Jendral On 24 November 2017, Directorate General of
Pajak (DJP) telah mengeluarkan keputusan yang Taxation (DGT) has rejected all the objection, and
menolak seluruh keberatan yang diajukan oleh CNAF. CNAF will appeal to the Tax Court regarding the tax
CNAF akan mengajukan banding kepada Pengadilan decision. Until the date of this report, the examination
Pajak atas keputusan pajak tersebut. Sampai dengan is still ongoing and there is no decision yet.
tanggal laporan ini, hasil banding pajak tersebut belum
diketahui.
Pada tanggal 11 Mei 2018, CNAF telah mengajukan On 11 May 2018, CNAF has appealed to the DGT
bantahan atas surat uraian banding dari sebagian related to some of the tax assessment letters from
Surat Ketetapan Pajak (SKPKB) PPN untuk masa SKPKB on VAT consists of periods January, May and
Januari, Mei dan Juli 2014 senilai Rp 1.522. Sampai July 2014 amounting to Rp 1,522. Up to the date of this
dengan tanggal laporan ini, hasil keputusan belum report, the decision is not yet known.
diketahui.

32. BEBAN YANG MASIH HARUS DIBAYAR DAN 32. ACCRUALS AND OTHER LIABILITIES
LIABILITAS LAIN-LAIN
a. Beban yang masih harus dibayar a. Accruals

2020 2019 2018
December 2017
Beban yang masih harus dibayar 2,756,942 2,369,679 2,069,818 Accrued expenses
Bunga yang masih harus dibayar 557,762 633,090 595,522 Accrued interest
3,314,704 3,002,769 2,665,340
Beban yang masih harus dibayar terutama terdiri dari Accrued expenses mainly consist of accrued expenses
beban pihak ketiga yang masih harus dibayar dan from third party and unearned commission.
komisi diterima dimuka.
Termasuk di dalam bunga yang masih harus dibayar As at 31 December 2020, accrued interest also consist
pada tanggal 31 Desember 2020 adalah hutang of accrued interest for subordinated loans amounting to
bunga pinjaman subordinasi sebesar Rp 2.125 (2019 Rp 2,125 (2019 and 2018: Rp 3,858) and accrued
dan 2018: Rp 3.858) dan hutang bunga pinjaman interest for marketable securities issued, include sharia
efek-efek yang diterbitkan, termasuk hutang bunga interest payable, amounting to Rp 44,306
syariah, sebesar Rp 44.306 (2019: Rp 60.299; 2018: (2019: Rp 60,299; 2018: Rp 50,045). Information in
Rp 50.045). Informasi mengenai pinjaman subordinasi respect to subordinated loans and marketable
dan efek-efek yang diterbitkan diungkapkan pada securities issued are disclosed in Note 33 and 29.
Catatan 33 dan 29.
b. Liabilitas lain-lain b. Other liabilities
2020 2019 2018

December 2017
Komisi diterima dimuka 519,540 459,720 405,489 Unearned commission
Setoran jaminan 405,613 296,929 208,862 Security deposits
Liabilitas sewa *) 224,604 - - Leased liabilities *)
Cadangan kerugian penurunan nilai Allowance for impairment losses of
komitmen dan kontinjensi 328,809 - commitments and contingencies
Lain-lain 358,123 279,266 315,047 Others
1,836,689 1,035,915 929,398
*) Dampak dari penerapan PSAK 73 yang Impact of implementation of SFAS 73 starting *)
mulai berlaku tanggal 1 Januari 2020 from 1 January 2020
Informasi mengenai tingkat suku bunga dan jatuh Information in respect to interest rates and maturitiy is
tempo diungkapkan pada Catatan 54 dan 56. disclosed in Notes 54 and 56.

33. PINJAMAN SUBORDINASI 33. SUBORDINATED LOANS

2020 2019 2018
Obligasi subordinasi Subordinated bonds
Rupiah Rupiah
Nilai nominal 233,000 1,833,000 1,750,000 Par value
Dikurangi: Less:
Biaya emisi yang belum diamortisasi (8,816) (11,825) (7,583) Unamortised issuance cost
Nilai tercatat 224,184 1,821,175 1,742,417 Carrying value
Informasi mengenai tingkat suku bunga dan jatuh tempo Information in respect to interest rates and maturity is
diungkapkan pada catatan 54 dan 56. disclosed in Notes 54 and 56.
Berikut adalah rincian obligasi subordinasi pada tanggal Below is the detail of subordinated bonds as at
31 Desember 2020, 2019, dan 2018. 31 December 2020, 2019, and 2018.
Tanggal jatuh Opsi
30 September/ 31 Desember/ 31 Desember/ Tercatat/ tempo/ Pelunasan/ Tingkat bunga/
2020 2019 2018 Listed Due date Call option Interest rate
Obligasi Subordinasi Bursa Efek
II Tahun 2010/ Indonesia/ 23 Desember/
Subordinated Bonds II Indonesia Stock December
Year 2010 - 1,600,000 1,600,000 Exchange 2020 N/A 10.85% per tahun/per annum
III Tahun 2018 Seri A/ Indonesia/ 15 November/
Subordinated Bonds III Indonesia Stock November N/A 9.85% per tahun/per annum
Year 2018 Series A 75,000 75,000 75,000 Exchange 2023
III Tahun 2018 Seri B/ Indonesia/ 15 November/
Subordinated Bonds III Indonesia Stock November N/A 10% per tahun/per annum
Year 2018 Series B 75,000 75,000 75,000 Exchange 2025
Obligasi Subordinasi berkelanjutan I Bursa Efek
Tahun 2019 Seri A/ Indonesia/ 19 Desember/
Continuous Subordinated Bonds I Indonesia Stock December N/A 8.05% per tahun/per annum
Year 2019 Series A 83,000 83,000 - Exchange 2024
233,000 1,833,000 1,750,000
Dikurangi/Less :
Biaya emisi
yang belum
diamortisasi/
Unamortised
issuance cost (8,816) (11,825) (7,583)
Nilai tercatat/
Carrying value 224,184 1,821,175 1,742,417
Pada tanggal 23 Desember 2010, Bank CIMB Niaga As at 23 December 2010, Bank CIMB Niaga issued
menerbitkan Obligasi Subordinasi II Tahun 2010 sebesar Subordinated Bonds II Year 2010 amounted to
Rp 1.600.000. Penerbitan obligasi ini telah disetujui oleh BI Rp 1,600,000. This issuance has been approved by BI
melalui Surat No. 12/196/DPB3/TPB-3/Rahasia tanggal through its Letter No. 12/196/DPB3/TPB-3/Rahasia dated
29 Desember 2010 dan mendapatkan pernyataan 29 December 2010 and has obtained notice of effectivity
efektif dari Ketua Bapepam-LK melalui Surat from Chairman of Bapepam-LK through its Letter
No. S-11156/BL/2010 tanggal 15 Desember 2010. No. S-11156/BL/2010 dated 15 December 2010.
Pada tanggal 15 November 2018, Bank CIMB Niaga As at 15 November 2018, Bank CIMB Niaga issued
menerbitkan Obligasi Subordinasi III Tahun 2018 Seri A Subordinated Bonds III Year 2018 series A amounted to
sebesar Rp 75.000. Penerbitan obligasi ini telah disetujui Rp 75,000. This issuance has been approved by OJK
oleh OJK Pengawas Perbankan melalui Surat Pengawas Perbankan through its Letter
No. S-89/PB.33/2018 tanggal 26 Juli 2018 dan No. S-89/PB.33/2018 dated 26 Juli 2018 and has obtained
mendapatkan pernyataan efektif dari OJK Pengawas Pasar notice of effectivity from OJK Pengawas Pasar Modal
Modal melalui Surat No. S-158/D.04/2018 tanggal through its Letter No. S-158/D.04/2018 dated 8 November
8 November 2018. 2018.

33. PINJAMAN SUBORDINASI (lanjutan) 33. SUBORDINATED LOANS (continued)
Pada tanggal 15 November 2018, Bank CIMB Niaga As at 15 November 2018, Bank CIMB Niaga issued
menerbitkan Obligasi Subordinasi III Tahun 2018 Seri B Subordinated Bonds III Year 2018 series B amounted to
sebesar Rp 75.000. Penerbitan obligasi ini telah disetujui Rp 75,000. This issuance has been approved by OJK
oleh OJK Pengawas Perbankan melalui Surat Pengawas Perbankan through its Letter No.
No. S-89/PB.33/2018 tanggal 26 Juli 2018 dan S-89/PB.33/2018 dated 26 Juli 2018 and has obtained
Modal melalui Surat No. S-158/D.04/2018 tanggal through its Letter No. S-158/D.04/2018 dated 8 November
8 November 2018. 2018.
Pada tanggal 19 Desember 2019, Bank CIMB Niaga As at 19 December 2019, Bank CIMB Niaga issued
menerbitkan Obligasi Subordinasi Berkelanjutan I Tahun Continuous Subordinated Bonds I Year 2019 amounted to
2019 sebesar Rp 83.000. Penerbitan obligasi ini telah Rp 83,000. This issuance has been approved by OJK
disetujui oleh OJK Pengawas Perbankan melalui Surat Pengawas Perbankan through its Letter No. S-
No. S-51/PB.33/2019 tanggal 21 Oktober 2019 dan 51/PB.33/2019 dated 21 October 2019 and has obtained
Modal melalui Surat No. S-194/D.04/2019 tanggal through its Letter No. S-194/D.04/2019 dated 12 December
12 Desember 2019. 2019.
Bank CIMB Niaga telah melakukan pembayaran bunga Bank CIMB Niaga has paid interest on schedule and in
secara tepat waktu dan sesuai dengan jumlah yang accordance with the amount agreed.
diperjanjikan.
Transaksi lindung nilai Hedge transactions
Tidak terdapat transaksi lindung nilai per 31 Desember There was no hedging transaction as of 31 December
2020, 2019, dan 2018. 2020, 2019, and 2018.
Perhitungan Kewajiban Penyediaan Modal Minimum Capital Adequacy Ratio calculation

Pada tanggal 29 Desember 2010, melalui Surat BI As at 29 December 2010, based on Letter from BI
No. 12/196/DPB3/TPB3-3/Rahasia, Bank CIMB Niaga telah No. 12/196/DPB3/TPB3-3/Rahasia, BI had given an
memperoleh persetujuan dari BI untuk memperhitungkan approval to Bank CIMB Niaga to include the Subordinated
Obligasi Subordinasi sebesar Rp 1.600.000 sebagai Bonds of Rp 1,600,000 as a component of tier 2 capital in
komponen modal pelengkap dalam perhitungan rasio CAR calculation.
KPMM.
Pada tanggal 15 Desember 2018, melalui Surat dari OJK On 15 December 2018, based on Letter from OJK
Pengawas Perbankan No. S-89/PB.33/2018, Bank CIMB Pengawas Perbankan No. S-89/PB.33/2018, OJK
Niaga telah memperoleh persetujuan dari OJK Pengawas Pengawas Perbankan had given an approval to Bank
Perbankan untuk memperhitungkan Obligasi Subordinasi CIMB Niaga to include the Subordinated Bonds Series A of
Seri A sebesar Rp 75.000 dan Seri B sebesar Rp 75.000 Rp 75,000 and Series B of Rp 75,000 as component of tier
sebagai komponen modal pelengkap dalam perhitungan 2 capital in CAR calculation.
rasio KPMM.
Pada tanggal 14 Februari 2020, melalui Surat dari OJK On 14 February 2020, based on Letter from OJK
Pengawas Perbankan No. S-07/PB.33/2020, Bank CIMB Pengawas Perbankan No. S-07/PB.33/2020, OJK
Niaga telah memperoleh persetujuan dari OJK Pengawas Pengawas Perbankan had given an approval to Bank
Perbankan untuk memperhitungkan Obligasi CIMB Niaga to include the Continuous Subordinated
Berkelanjutan I Bank CIMB Niaga Tahap I Tahun 2019 Bonds I phase I 2019 of Rp 83,000 as component of tier 2
sebesar Rp 83.000 sebagai komponen modal pelengkap capital in CAR calculation.
dalam perhitungan rasio KPMM.

33. PINJAMAN SUBORDINASI (lanjutan) 33. SUBORDINATED LOANS (continued)
Peringkat obligasi subordinasi Subordinated bonds ratings
Peringkat obligasi subordinasi ini berdasarkan credit rating The ratings for the subordinated bonds based on credit
PT Pefindo pada tanggal 31 Desember 2020 adalah rating PT Pefindo at 31 December 2020 is AA+(idn) (2019
AA+(idn) (2019 dan 2018: AA-(idn)). and 2018: AA-(idn)).
Tidak terdapat pembatasan-pembatasan yang diwajibkan There were no negative covenants in the subordinated
dalam perjanjian obligasi subordinasi. bonds agreements.
Berdasarkan transaksi dengan pihak berelasi dan By transactions with related party and third party
pihak ketiga
Obligasi subordinasi dengan pihak berelasi diungkapkan Subordinated bonds transactions with related party are
dalam Catatan 49. disclosed in Notes 49.
34. MODAL SAHAM, TAMBAHAN MODAL DISETOR, DAN 34. SHARE CAPITAL, ADDITIONAL PAID IN CAPITAL,
SAHAM TREASURI TREASURY SHARES
Modal Saham Share Capital
Susunan pemegang saham pada tanggal 31 Desember The shareholders composition as of 31 December 2020,
2020, 2019, dan 2018 adalah: 2019, and 2018 were as follow:
2020
Jumlah
lembar saham
ditempatkan dan
disetor penuh/ Persentase
Number of kepemilikan/ Jumlah
shares issued Percentage dalam Rupiah/
Pemegang saham and fully paid of ownership Amount in Rupiah Shareholders
Pemegang saham lainnya Other shareholders
(kepemilikan di bawah 5%) 71,853,936 0.29% 359,270 (ownership interest below 5%)
CIMB Group Sdn Bhd, Malaysia 22,991,336,581 91.48% 1,149,567 CIMB Group Sdn Bhd, Malaysia
Pemegang saham lainnya . Other shareholders
(kepemilikan di bawah 5%) 1,864,466,577 7.42% 93,223 (ownership interest below 5%)
Jumlah modal saham ditempatkan dan Total shares capital issued and
disetor penuh dan fully paid and
tidak termasuk saham treasuri 24,927,657,094 99.19% 1,602,060 exclude treasury shares
Saham treasuri 203,949,749 0.81% 10,197 Treasury shares
Jumlah seluruh modal saham Total shares capital issued
ditempatkan dan disetor penuh and fully paid
termasuk dengan saham treasuri 25,131,606,843 100.00% 1,612,257 include treasury shares

SAHAM TREASURI (lanjutan) TREASURY SHARES (continued)
Modal Saham (lanjutan) Share Capital (continued)
Susunan pemegang saham pada tanggal 31 Desember The shareholders composition as of 31 December 2020,
2020, 2019, dan 2018 adalah: (lanjutan) 2019, and 2018 were as follow: (continued)
2019
Jumlah
lembar saham
ditempatkan dan
Pemegang saham lainnya . Other shareholders
Jumlah Modal Saham Ditempatkan dan Total Shares Capital Issued and
Disetor Penuh dan Fully Paid and
Tidak Termasuk Saham Treasuri 24,929,895,141 99.20% 1,602,172 Exclude Treasury Shares
Jumlah Seluruh Modal Saham Total Shares Capital Issued
Ditempatkan dan Disetor Penuh and Fully Paid
Termasuk dengan Saham Treasuri 25,131,606,843 100.00% 1,612,257 Include Treasury shares
2018
Jumlah
lembar saham
ditempatkan dan
Jumlah Modal Saham Ditempatkan dan Total Shares Capital Issued and
Disetor Penuh dan Fully Paid and
Tidak Termasuk Saham Treasuri 24,933,388,455 99.21% 1,602,347 Exclude Treasury Shares
Jumlah Seluruh Modal Saham Total Shares Capital Issued
Ditempatkan dan Disetor Penuh and Fully Paid
Termasuk dengan Saham Treasuri 25,131,606,843 100.00% 1,612,257 Include Treasury shares
Saham biasa kelas A dan saham biasa kelas B adalah Class A and class B ordinary shares are ordinary shares
saham biasa yang memiliki hak yang sama. that have the same rights.

Jumlah saham yang beredar dan disetor penuh yang dimiliki The total number of shares issued and fully paid owned by
oleh Direksi adalah: Directors were as follows:
2020 2019 2018
Bpk. Tigor M Siahaan 6,515,657 6,471,356 6,471,356 Mr. Tigor M Siahaan

Ibu Vera Handajani 312,201 237,900 237,900 Mrs. Vera Handajani
Ibu Lani Darmawan 277,101 207,800 207,800 Mrs. Lani Darmawan
Ibu Fransiska Oei 224,401 170,500 170,500 Mrs. Fransiska Oei
Bpk. John Simon 219,101 167,300 167,300 Mr. John Simon
Bpk. Pandji P Djajanegara 164,626 123,925 123,925 Mr. Pandji P Djajanegara
Ibu Rita Mas'Oen (1) - 189,700 189,700 Mrs. Rita Mas'Oen (1)
Ibu Hedy Lapian (1) - 177,900 177,900 Mrs. Hedy Lapian (1)
Ibu Megawati Sutanto (1) - 148,400 148,400 Mrs. Megawati Sutanto (1)
Bpk. Rahardja Alihamzah (2) - 137,700 137,700 Mr. Rahardja Alihamzah (2)
Bpk. Wan Razly Abdullah 4) - - 193,700 Mr. Wan Razly Abdullah (4)
Bpk. Lee Kai Kwong - - - Mr. Lee Kai Kwong

Ibu Tjioe Mei Tjuen (3) - - - Mrs. Tjioe Mei Tjuen (3)
1) Berakhir masa jabatannya sesuai RUPS Tahunan Tanggal 9 April 2020 Term of Office ended on the closing of Annual GMS on 9 April 2020 1)
2) Mengundurkan diri dan efektif 9 April 2020 atau sejak ditutupnya RUPS Tahunan Resigned and effective as of 9 April 2020 or as of the closing of the Annual GMS 2)
3) Diangkat melalui RUPS Tahunan tanggal 9 April 2020 Appointed in Annual GMS on 9 April 2020 3)
dan efektif 3 November 2020 and effective on 3 November 2020
4) Mengundurkan diri efektif 1 Januari 2019 Resigned effective since 1 January 2019 4)
Efektif sejak tanggal 24 Agustus 2007, CIMB Group As at 24 August 2007, CIMB Group Holdings Berhad as
Holdings Berhad sebagai pemegang saham mayoritas Bank CIMB Niaga’s majority and controlling shareholder
sekaligus pengendali Bank CIMB Niaga telah mengalihkan has transferred the ownership in Bank CIMB Niaga of
seluruh kepemilikan sahamnya pada Bank CIMB Niaga 7,779,138,350 (full amount) shares to CIMB Group Sdn
sejumlah 7.779.138.350 (nilai penuh) saham kepada CIMB Bhd. As a result, Bank CIMB Niaga is part of CIMB Group.
Group Sdn Bhd sehingga Bank CIMB Niaga telah menjadi This ownership transfer has been approved by BI through
bagian dari CIMB Group. Pengalihan saham tersebut telah Letter No. 9/67/GBI/DPIP/Rahasia dated 29 June 2007.
mendapat persetujuan BI melalui Surat No. 9/67/GBI/DPIP/ CIMB Group Sdn Bhd is fully owned by CIMB Group
Rahasia tanggal 29 Juni 2007. CIMB Group Sdn Bhd Holdings Berhad.
dimiliki seluruhnya oleh CIMB Group Holdings Berhad.
Pada tanggal 16 Agustus 2010, CIMB Group Sdn Bhd As at 16 August 2010, CIMB Group Sdn Bhd purchased
membeli saham Bank CIMB Niaga dari Santubong Bank CIMB Niaga’s shares from Santubong Ventures Sdn
Ventures Sdn Bhd, Greatville Pte.Ltd, dan PT Pantai Damai Bhd, Greatville Pte.Ltd, and PT Pantai Damai of
masing-masing sebanyak 3.982.024.793 (nilai penuh) 3,982,024,793 (full amount) shares or 16.64%,
saham atau 16,64%, 615.993.242 (nilai penuh) saham atau 615,993,242 (full amount) shares or 2.57%, and
2,57%, dan 110.511.515 (nilai penuh) saham atau 0,46%. 110,511,515 (full amount) shares or 0.46%, respectively.
Dengan transaksi tersebut, maka kepemilikan CIMB Group With such transaction, therefore CIMB Group Sdn Bhd
Sdn Bhd di Bank CIMB Niaga mengalami peningkatan dari ownership in Bank CIMB Niaga increased from 77.24% to
77,24% menjadi 96,92%. 96.92%.

Dalam rangka pemenuhan Peraturan Bursa Efek Indonesia In compliance of the Indonesia Stock Exchange regulation
No. I-A tentang Pencatatan Saham dan Efek Bersifat No. I-A concerning Stock Listing and Equity Securities
Ekuitas selain Saham yang Diterbitkan oleh Perusahaan besides Shared Issued by Listed Company, in particular for
Tercatat, khususnya terkait jumlah saham yang dimiliki oleh number of shares owned by non-controlling shareholders
pemegang saham bukan pengendali dan bukan pemegang and non-ultimate shareholders at least 7.5% of total paid-in
saham utama paling kurang sebesar 7,5% dari jumlah capital, on 29 August 2016 and 30 August 2016, CIMB
saham dalam modal disetor, pada tanggal Group Sdn. Bhd., as a holder of 96.92% shares of Bank
29 Agustus 2016 dan 30 Agustus 2016 CIMB Group Sdn. CIMB Niaga, has transferred 5.44% of its ownership
Bhd., selaku pemegang 96,92% saham Bank CIMB Niaga, through Dividend in Specie (DIS) mechanism, therefore its
mengalihkan sebesar 5,44% kepemilikan sahamnya melalui ownership becomes 91.48%. Effectively, on 7 July 2017 all
mekanisme Dividend in Specie (DIS) sehingga komposisi 5.44% of the shares have been transferred to the public.
kepemilikannya menjadi sebesar 91,48%. Efektif ditanggal
7 Juli 2017 seluruh 5,44% saham tersebut sudah dialihkan
ke publik.
Pemegang saham akhir CIMB Group Holdings Berhad The ultimate shareholders of CIMB Group Holdings Berhad
pada tanggal 31 Desember 2020, 2019, dan 2018 adalah: as at 31 December 2020, 2019, and 2018 were as follows:
Persentase kepemilikan/
Pemegang saham Percentage of ownership Shareholders
2020 2019 2018
Khazanah Nasional Berhad 27.22% 23.77% 26.80% Khazanah Nasional Berhad

Employee Provident Fund 15.99% 12.67% 14.16% Employee Provident Fund
Lain-lain dan Masyarakat 56.79% 63.56% 59.04% Others and Public
100.00% 100.00% 100.00%
Khazanah Nasional Berhad adalah entitas yang dimiliki oleh Khazanah Nasional Berhad is an entity owned by the
Pemerintah Malaysia. Government of Malaysia.
Tambahan modal disetor pada tanggal 31 Desember 2020, Included in additional paid in capital as of
2019, dan 2018 termasuk selisih nilai transaksi 31 December 2020, 2019, and 2018 is the previous
restrukturisasi entitas sepengendali masing-masing sebesar difference in restructuring value of transaction of entities
Rp 1.115.123 (lihat Catatan 1b). under common control amounting to Rp 1,115,123 (refer to
Note 1b).
Saham Treasuri Treasury Shares
Pembelian saham treasury akan digunakan sebagai Purchase of treasury shares will be used to provide
pemberian remunerasi yang bersifat variabel dalam bentuk variable remuneration in the form of shares or share-based
saham atau instrumen yang berbasis saham. Pemberian instruments. The remuneration in the form of shares is
remunerasi berbentuk saham tersebut dilakukan dengan carried out in 2 schemes, which are: Management
2 skema yaitu: Management Employee Stock Option Employee Stock Option Programme (MESOP) and
Programme (MESOP) dan Material Risk Takers (MRT). Material Risk Takers (MRT).

Management Employee Stock Option Programme Management Employee Stock Option

(MESOP) Programme (MESOP)
Pada tanggal 25 Juli 2017, Bank CIMB Niaga telah On 25 July 2017, Bank CIMB Niaga has obtained the OJK
mendapatkan persetujuan OJK melalui surat No.S- approval through letter No.S-63/PB.3/2017 dated 27 July
63/PB.33/2017 tanggal 27 Juli 2017, untuk membeli 2017, to buy back its shares in a maximum of 2% of the
sahamnya kembali sejumlah maksimal 2% dari jumlah total issued and fully paid shares which will then be used
saham yang telah dikeluarkan dan disetor penuh yang as a Management Employee Stock Option Programme
selanjutnya akan digunakan sebagai Program Kepemilikan (MESOP) which was effective in 2018.
Saham (MESOP) yang efektif di tahun 2018.
Selama tahun 2018 dan 2017, Bank CIMB Niaga juga telah During 2018 and 2017, Bank CIMB Niaga also purchased
melakukan pembelian saham sebanyak 13.808.900 dan 13,808,900 (full amount) shares and 194,407,492 (full
194.407.492 (nilai penuh) lembar saham dengan rata-rata amount) shares with an average per share of Rp 1,373.94
per saham sebesar Rp 1.373,94 dan Rp 1.249,45 (nilai and Rp 1,249.45 (full amount). The total acquisition cost
penuh). Total nilai perolehan sebesar Rp 18.972 dan amounting to Rp 18,972 and Rp 242,902 (including
Rp 242.902 (termasuk biaya komisi dan pajak). commission fees and taxes).
Selama tahun 2019, jumlah saham tresuri yang telah During 2019, the total treasury shares granted to
diberikan ke karyawan adalah 231.586 (nilai penuh) lembar employees were 231,586 (full amount) shares.
saham.
Material Risk Taker (MRT) Material Risk Taker (MRT)
Sesuai dengan POJK No. 45/POJK.03/2015 tanggal In accordance with POJK No. 45/POJK.03/2015 dated
23 Desember 2015 tentang Penerapan Tata Kelola Dalam 23 December 2015 concerning the Implementation of
Pemberian Remunerasi Bagi Bank Umum, Bank diwajibkan Governance in Providing Remuneration for Commercial
untuk memberikan remunerasi yang bersifat variabel dalam Banks, Banks are required to provide variable remuneration
bentuk saham atau instrumen yang berbasis saham kepada in the form of shares or share-based instruments to parties
pihak-pihak yang telah ditetapkan sebagai Material Risk that have been designated as Material Risk Taker (MRT).
Taker (MRT).
Di tahun 2018, Bank CIMB Niaga telah melakukan In 2018, Bank CIMB Niaga has conducted share buyback
pembelian kembali saham sebanyak 2.677.900 (nilai penuh) of 2,677,900 (full amount) shares which will be distributed
saham, yang akan dibagikan kepada manajemen dan to the management and employee who have fulfilled the
karyawan yang memenuhi kriteria Material Risk Taker criteria as Material Risk Taker (MRT).
(MRT).
Bank CIMB Niaga telah mendapatkan persetujuan OJK Bank CIMB Niaga has obtained the OJK approval through
melalui surat No.S-19/PB.33/2019 tanggal 25 Maret 2019 letter No.S-19/PB.33/2019 dated 25 March 2019 to
dimana Bank CIMB Niaga diperbolehkan untuk melakukan repurchase shares of a maximum of 20,000,000 (full
pembelian kembali saham maksimal hingga 20.000.000 amount) shares at a cost of up to Rp 25,000.
(nilai penuh) saham dengan biaya sebesar-besarnya
Rp 25.000.
Atas persetujuan tersebut, Bank CIMB Niaga melakukan Upon the approval, Bank CIMB Niaga has conducted share
pembelian saham kembali dengan total 7,211,500 (nilai buyback of 7,211,500 (full amount) shares at a cost of
penuh) saham dengan biaya sebesar Rp 6,123 dimana di Rp 6,123, which in 2019, Bank CIMB Niaga has conducted
tahun 2019, Bank CIMB Niaga melakukan pembelian saham share buyback of 3,724,900 shares (full amount) at a cost
kembali sebanyak 3,724,900 saham (nilai penuh) dengan of Rp 3,954, and in 2020 of 3,486,600 shares (full amount)
biaya sebesar Rp 3,954 dan di tahun 2020 sebanyak at a cost of Rp 2,169.
3,486,600 saham (nilai penuh) dengan biaya sebesar
Rp 2,169.
Material Risk Taker (MRT) (lanjutan) Material Risk Taker (MRT) (continued)
Selama tahun 2020, jumlah saham tresuri yang telah During 2020, the total treasury shares granted to
diberikan ke karyawan adalah 1.241.633 (nilai penuh) employees were 1,241,633 (full amount) shares,
lembar saham. respectively.
Informasi mengenai MESOP dan program MRT Information in respect of MESOP and MRT programme is
diungkapkan pada Catatan 46. disclosed in Note 46.
35. PENGGUNAAN LABA BERSIH 35. APPROPRIATION OF NET INCOME

Cadangan umum dan wajib General and statutory reserve
Pada tanggal 31 Desember 2020, 2019, dan 2018 As at 31 December 2020, 2019, and 2018 the general and
cadangan umum dan wajib adalah Rp 351.538. Cadangan statutory reserve amounted to Rp 351,538. This general
umum dan wajib ini dibentuk sehubungan dengan Undang- and statutory reserve was provided in relation with the Law
Undang Republik Indonesia No. 1/1995 yang telah of the Republic of Indonesia No.1/1995 which has been
digantikan dengan Undang-Undang No. 40/2007 efektif replaced with Law No. 40/2007 effective on 16 August 2007
tanggal 16 Agustus 2007 mengenai Perseroan Terbatas, regarding the limited company, which requires companies
yang mengharuskan perusahaan-perusahaan untuk to set up a general reserve at least 20% of the issued and
membuat penyisihan cadangan umum sebesar sekurang- paid up share capital. Such Law does not provide term for
kurangnya 20% dari jumlah modal yang ditempatkan dan such reserve.
disetor penuh. Undang-Undang tersebut tidak mengatur
jangka waktu untuk penyisihan tersebut.
Pembagian dividen tunai atas laba bersih tahun buku Distribution of cash dividen on 2019 and 2018 financial
2019 dan 2018 year net income
Pada tanggal 8 Mei 2020, Bank CIMB Niaga melaksanakan As at 8 May 2020, Bank CIMB Niaga distributed cash
pembayaran dividen tunai dari laba bersih tahun buku 2019 dividens amounting Rp 1,392,161,339,032 (full amount)
sebesar Rp 1.392.161.339.032 (nilai penuh) berdasarkan from net income of financial year 2019 based on General
keputusan Rapat Umum Pemegang Saham (RUPS) tanggal Meeting of Shareholders dated 14 April 2020.
14 April 2020.
Pada tanggal 15 Mei 2019, Bank CIMB Niaga On 15 May 2019, Bank CIMB Niaga distributed cash
melaksanakan pembayaran dividen tunai dari laba bersih dividends amounting to Rp 696,485,584,153 (full amount)
tahun buku 2018 sebesar Rp 696.485.584.153 (nilai penuh) from net income of financial year 2018 based on General
berdasarkan keputusan Rapat Umum Pemegang Saham Meeting of Shareholders dated 15 April 2019.
(RUPS) tanggal 15 April 2019.
36. PENDAPATAN BUNGA DAN SYARIAH 36. INTEREST AND SHARIA INCOME
2020 2019 2018
Kredit yang diberikan 16,640,794 18,371,915 16,933,936 Loans

Efek-efek, Obligasi Pemerintah, dan Marketable securities, Government
efek-efek yang dibeli dengan janji dijual Bonds, and securities purchased
kembali 3,186,572 2,352,734 2,390,264 under resale agreement
Pembiayaan konsumen dan sewa Consumer financing and
guna usaha 610,292 535,458 594,280 financing lease
Penempatan pada bank lain Placements with other banks
dan Bank Indonesia 237,404 236,346 209,946 and Bank Indonesia
Giro pada bank lain Current account with other banks
dan Bank Indonesia 24,644 18,227 31,342 and Bank Indonesia
Lain-lain 3,393 174,806 133,479 Others
20,703,099 21,689,486 20,293,247

36. PENDAPATAN BUNGA DAN SYARIAH (lanjutan) 36. INTEREST AND SHARIA INCOME (continued)
Termasuk dalam pendapatan bunga konsolidasian adalah Included in consolidated interest income is income based
pendapatan berdasarkan prinsip syariah untuk tahun yang on sharia principles for the year ended
berakhir 31 Desember 2020 adalah Rp 3.454.647 (2019: 31 December 2020 amounted to Rp 3,454,647 (2019:
Rp 3.293.250; 2018: Rp 1.946.654). Rp 3,293,250; 2018: Rp 1,946,654).
Pendapatan bunga berdasarkan klasifikasi aset keuangan Interest income based on the classification of financial
adalah: assets are as follows:
2020 2019 2018
Diukur pada nilai wajar melalui
laba rugi 309,018 258,028 163,618 Fair value through profit and loss
Diukur pada nilai wajar melalui Fair value through other
penghasilan komprehensif lain 1,619,953 - - comprehensive income
Tersedia untuk dijual - 872,078 1,210,505 Available-for-sale
Biaya perolehan diamortisasi 18,774,128 - - Amortised cost
Dimiliki hingga jatuh tempo - 20,559,380 18,919,124 Held-to-maturity
20,703,099 21,689,486 20,293,247
Termasuk dalam pendapatan bunga dari kredit yang Included in interest income from loans is interest income
diberikan adalah pendapatan bunga atas bagian yang tidak recognised on the unimpaired portion of the impaired loans
mengalami penurunan nilai terhadap kredit yang diberikan (time value unwinding) for the year ended
yang mengalami penurunan nilai (time value unwinding) 31 December 2020 amounted to Rp 349,418
untuk tahun yang berakhir 31 Desember 2020 adalah (2019: Rp 226,391; 2018: Rp 155,341).
Rp 349.418 ( 2019: Rp 226.391; 2018: Rp 155.341).
Lihat Catatan 49 untuk transaksi dengan pihak-pihak Refer to Note 49 for transactions with related parties.
berelasi.
37. BEBAN BUNGA DAN SYARIAH 37. INTEREST AND SHARIA EXPENSES
2020 2019 2018
Simpanan nasabah: Deposits from customers:

Deposito berjangka dan Time deposits and
Sertifikat Deposito 3,962,732 5,321,435 4,732,793 certificates of deposits
Tabungan 1,785,507 1,487,386 1,270,350 Saving deposits
Giro 1,366,049 1,044,663 1,124,287 Demand deposits
Efek-efek yang diterbitkan 618,882 473,246 435,150 Marketable securities issued
Pinjaman yang diterima dan Borrowings and
obligasi subordinasi 314,185 347,587 379,817 subordinated bonds
Efek-efek yang dijual Securities sold under
dengan janji dibeli kembali 133,124 327,495 125,654 repurchase agreement
Simpanan dari bank lain 25,309 36,441 87,241 Deposits from other banks
Lain-lain 26,793 83,215 126,224 Others
8,232,581 9,121,468 8,281,516
Termasuk dalam beban bunga adalah beban bunga Included in interest expense is interest expense based on
berdasarkan prinsip syariah untuk tahun yang berakhir sharia principle for the year ended 31 December 2020
31 Desember 2020 adalah Rp 2.020.423 amounted to Rp 2,020,423 (2019: Rp 2,071,331;
(2019: Rp 2.071.331; 2018: Rp 1.025.280). Lihat Catatan 2018: Rp 1,025,280). Refer to Note 49 for transactions with
49 untuk transaksi dengan pihak berelasi. related parties.

38. PROVISI DAN KOMISI LAINNYA 38. OTHER FEES AND COMMISSIONS
2020 2019 2018
Jasa administrasi nasabah 534,111 658,922 526,889 Customer administration fees

Pendapatan bancassurance 438,493 508,717 637,487 Bancassurance income
Jasa arranging 163,802 283,811 216,703 Arranging fee
Pendapatan interchange fee kartu kredit 143,018 300,273 285,918 Credit card interchange fee income
Jasa dokumen ekspor-impor 130,125 133,370 163,033 Export-import document fees
Jasa servis kustodian 107,065 109,299 95,360 Custodial services fees
Jasa kliring dan transfer 88,253 96,716 98,298 Clearing and transfer fees
Komisi merchant 67,984 48,049 48,551 Merchant commission
Pendapatan annual fee 51,381 50,389 42,456 Annual fee income
Lain-lain 13,821 17,134 37,160 Others
1,738,053 2,206,680 2,151,855
39. KERUGIAN PENURUNAN NILAI ATAS ASET 39. IMPAIRMENT LOSSES ON FINANCIAL AND NON-
KEUANGAN DAN NONKEUANGAN – BERSIH FINANCIAL ASSETS – NET
2020
Months 2019
Months 2018
Pembentukan/(pemulihan) Impairment/(reversal)
kerugian penurunan nilai atas: of losses on:
Aset keuangan Financial assets
Kredit yang diberikan 5,530,183 3,307,201 3,053,594 Loans
Tagihan Akseptasi (367,888) - - Acceptance receivables
Piutang pembiayaan konsumen 104,104 (4,750) (62,867) Consumer financing receivable
Penempatan pada bank lain Placements with other banks
dan Bank Indonesia (22,330) 16,210 3,024 and Bank Indonesia
Suspense account dan Suspense account and
piutang lainnya - 1,625 1,533 other receivables
Piutang sewa pembiayaan - (111) (4,745) Financing lease receivables
Efek-efek 151,537 (731) 221 Marketable securities
Estimasi kerugian atas Estimated losses on
komitmen dan kontinjensi * (35,912) - - * commitments and contingencies
Aset nonkeuangan Non-financial assets
Aset yang diambil alih 44,192 (62,825) 38,772 Foreclosed assets
5,403,886 3,256,619 3,029,532
* Dampak dari penerapan PSAK 71 yang mulai berlaku * Impact of implementation SFAS 71 starting from 1 January 2020
1 Januari 2020
40. KEUNTUNGAN DARI INSTRUMEN KEUANGAN YANG 40. GAINS FROM FINANCIAL INSTRUMENTS AT FAIR
DIUKUR MELALUI LABA RUGI VALUE THROUGH PROFIT OR LOSS
2020 2019 2018

M o n th s M o n th s
Derivatif 1,087,132 519,229 659,884 Derivatives

Obligasi Pemerintah 47,560 63,587 145,007 Government Bonds
Efek-efek 5,869 3,720 (2,284) Marketable securities
1,140,561 586,536 802,607

41. KEUNTUNGAN DARI PENJUALAN EFEK-EFEK – 41. GAINS FROM SALE OF MARKETABLE SECURITIES –
BERSIH NET
2020 2019 2018
Obligasi Pemerintah 747,046 299,713 50,803 Government Bonds

Efek-efek 58,814 77,844 48,212 Marketable securities
805,860 377,557 99,015
Keuntungan dari penjualan efek-efek dan obligasi Gains from sale of marketable securities and
pemerintah berdasarkan klasifikasinya adalah: government bonds based on its classifications:
2020 2019 2018

Diukur pada nilai wajar melalui laba rugi 623,700 301,826 62,294 Fair value through profit or loss
Diukur pada nilai wajar melalui penghasilan Fair value through other comprehensive
komprehensif lain 182,160 - - income
Tersedia untuk dijual - 75,731 36,721 Available-for-sale
805,860 377,557 99,015
42. BEBAN TENAGA KERJA 42. PERSONNEL EXPENSES
2020 2019 2018
Gaji dan upah 2,496,676 2,378,977 2,169,556 Salaries and wages

Tunjangan karyawan 1,628,795 2,045,196 1,637,464 Allowances for employees
Pelatihan dan pendidikan 145,299 199,549 194,771 Trainings and educations
4,270,770 4,623,722 4,001,791
Termasuk di dalam beban tenaga kerja adalah tunjangan Included in personnel expenses are bonus and vacation
bonus dan Tunjangan Hari Raya (THR), pensiun, dan pay (THR), pension, and other post retirement
liabilitas imbalan pasca kerja lainnya, dan tantiem untuk obligations, and tantiem for the year ended 31 December
tahun yang berakhir 31 Desember 2020 sebesar 2020 amounted to Rp 1,267,080 (2019: Rp 918,605;
Rp 1.267.080 (2019: Rp 918.605; 2018: Rp 1.088.463). 2018: Rp 1,088,463).

42. BEBAN TENAGA KERJA (lanjutan) 42. PERSONNEL EXPENSES (continued)

Termasuk ke dalam beban tenaga kerja adalah gaji dan Included in personnel expenses are also salaries and other
kompensasi lainnya yang dibayarkan kepada Komisaris, allowances for Commissioners, Directors, and Executive
Direksi, dan Pejabat Eksekutif Bank CIMB Niaga adalah: Bank Officers of Bank CIMB Niaga as follows:
2020 2019 2018

Komisaris Commissioners
Gaji dan tunjangan 11,976 11,531 15,141 Salaries and allowances
Bonus dan T HR 849 935 1,189 Bonus and Vacation Pay
12,825 12,466 16,330
Direksi Directors
Bonus dan T HR 46,194 72,969 60,358 Bonus and Vacation Pay
Kompensasi berbasis saham 12,067 17,492 15,680 Share-based payments
Pensiun 4,351 4,893 4,622 Pension
125,250 164,154 148,871
Pejabat Eksekutif Bank Executive Bank Officers

Bonus dan T HR 91,665 108,727 86,092 Bonus and Vacation Pay
Kompensasi berbasis saham 5,345 12,089 10,125 Share-based payments
Pensiun 13,019 11,443 10,865 Pension
290,370 294,553 270,986
428,445 471,173 436,187
43. BEBAN UMUM DAN ADMINISTRASI 43. GENERAL AND ADMINISTRATIVE EXPENSES
2020 2019 2018
Telepon, telex, dan komputer 1,047,673 901,554 894,869 Telephone, telex, and computer
Sewa, penyusutan, dan pemeliharaan Rental, depreciation, and
gedung 916,091 883,868 864,044 maintenance of building
Biaya pihak ketiga 463,976 496,699 453,798 Outsourced service expenses
Jasa profesional 337,682 210,316 90,893 Professional fees
Iklan dan promosi 234,239 313,837 292,391 Advertising and promotion
Biaya tahunan Otoritas Jasa Financial Services Authority
Keuangan (OJK) 136,446 119,874 131,196 annual fee
Listrik dan Air 90,250 90,468 90,736 Electricity and water
Perlengkapan kantor 67,491 109,401 128,676 Office supplies
Penyusutan dan pemeliharaan Depreciation and maintenance
perabot kantor 71,927 72,281 69,335 of office furniture
Transportasi 43,604 94,460 86,340 Transportation
Premi asuransi 7,373 2,730 6,217 Insurance premium
Lain-lain 209,837 533,176 600,005 Others
3,626,589 3,828,664 3,708,500
Beban umum dan administrasi lain-lain antara lain terdiri Other general and administrative expenses are consist of
dari utilitas, biaya penagihan kredit, dan biaya aktivitas utilities, collection expense and other office activity
kantor lainnya. expenses.

44. PENDAPATAN BUKAN OPERASIONAL – BERSIH 44. NON-OPERATING INCOME – NET
2020 2019 2018

Pendapatan sewa 3,748 1,262 10,775 Rental income
Keuntungan atas penjualan aset tetap 1,838 1,473 2,355 Gains on sale of fixed assets
Denda (707) (555) (35,974) Fines
Lain-lain - bersih 88,686 17,970 79,319 Others - net
93,565 20,150 56,475
45. LIABILITAS IMBALAN KERJA 45. EMPLOYEE BENEFIT OBLIGATIONS

Liabilitas imbalan kerja terdiri dari : Employee benefit obligations consist as follows:
2020 2019 2018
Beban bonus
yang masih harus dibayar 349,174 457,269 417,605 Accrued bonus
Pensiun dan liabilitas imbalan Pension and other post
pasca kerja lainnya 749,160 609,763 512,591 retirement obligations
PPKS - 64,695 - MSS
1,098,334 1,131,727 930,196
Pada tanggal 26 Juli 2019, Bank menawarkan Program As at 26 July 2019, Bank CIMB Niaga launched Mutual
Purna Karya Sukarela (PPKS). PPKS merupakan program Separation Scheme (MSS) program. MSS is a program
yang ditujukan bagi seluruh karyawan Bank untuk memilih that is offered to all employees of the Bank to elect for
purna karya sebelum mencapai usia pensiun. Program ini early retirement. The program is voluntary and is open for
bersifat sukarela dan dapat diikuti oleh seluruh karyawan all employees in accordance with the terms and conditions
Bank sesuai dengan syarat dan ketentuan yang berlaku and must be approved by the Bank. A total of 1,042
dan harus disetujui oleh Bank. Sejumlah 1.042 karyawan employees have taken this early retirement program.
telah mengambil program ini.
Pada tanggal 31 Desember 2020, 2019, dan 2018 As at 31 December 2020, 2019, and 2018, the total Bank
karyawan Bank CIMB Niaga yang memperoleh imbalan CIMB Niaga employees who are eligible for retirement and
pensiun dan imbalan kerja lainnya 10.713 (2019: 10.738; other employee benefits were 10,713 (2019: 10,738;
2018: 11.281). 2018: 11,281).
Sesuai dengan kebijakan Bank CIMB Niaga, pegawai In accordance with Bank CIMB Niaga’s policy, employees
mendapat fasilitas imbalan pensiun dan imbalan kerja are entitled to the pension benefit and other long term
jangka panjang lainnya, sebagai berikut: benefit, as follows:
Imbalan Pensiun Pension benefits
Pada tanggal 31 Desember 2020, 2019, dan 2018, As at 31 December 2020, 2019, and 2018, Bank CIMB
penilaian liabilitas pensiun dilakukan oleh Bank CIMB Niaga’s calculation of pension obligation using actuarial
Niaga menggunakan asumsi-asumsi penilaian aktuaria assumptions, which were calculated by PT Dayamandiri
yang dihitung oleh PT Dayamandiri Dharmakonsolindo Dharmakonsolindo as at 4 January 2021, 2 January 2020,
pada tanggal 4 Januari 2021, 2 Januari 2020, dan and 2 January 2019 respectively using the “Projected Unit
2 Januari 2019 dengan menggunakan metode “Projected Credit’ method”.
Unit Credit”.

45. LIABILITAS IMBALAN KERJA (lanjutan) 45. EMPLOYEE BENEFIT OBLIGATIONS (continued)
Imbalan Pensiun (lanjutan) Pension benefits (continued)
Bank CIMB Niaga menyelenggarakan 2 (dua) program Bank CIMB Niaga sponsors 2 (two) pension employee
pensiun terdiri dari program pensiun manfaat pasti dan program plans consisting of a defined benefit plan and
program iuran pasti sebagai berikut: defined contribution plan, as follows:
a. Manfaat pasti a. Defined benefit plan
Manfaat pasti diselenggarakan untuk sebagian Bank CIMB Niaga sponsors a defined benefit pension
karyawan tetap Bank CIMB Niaga yang dikelola dan retirement program covering a certain number of its
diadministrasikan oleh “Dana Pensiun Bank CIMB permanent employees which is managed and
Niaga”. administered by “Dana Pensiun Bank CIMB Niaga”.
Program tersebut memberikan manfaat pensiun yang The plan calls for benefits to be paid to eligible
akan dibayarkan kepada karyawan yang berhak pada employees at retirement or when the employees
saat karyawan pensiun atau pada saat karyawan resign according to the pension fund regulation which
tersebut berhenti sesuai dengan peraturan dana is designed to comply with Pension Fund Regulation.
pensiun yang bersangkutan yang dibuat sesuai The benefits paid at retirement are calculated based
dengan UU Dana Pensiun. Manfaat pensiun dihitung on the pension benefit formula as set forth in the
berdasarkan formula manfaat pensiun sebagaimana Regulation of Pension Funds.
tertuang dalam Peraturan Dana Pensiun.
Pendanaan program pensiun ini dilakukan oleh Bank Bank CIMB Niaga has funded the plan through
CIMB Niaga dengan membayar iuran tahunan yang annual contributions which are sufficient to meet the
setidaknya memenuhi jumlah minimum seperti yang minimum requirements set forth in applicable pension
diharuskan oleh peraturan perundang-undangan dana fund laws.
pensiun yang berlaku.
Jumlah iuran ini umumnya meliputi imbalan pensiun This contribution usually reflects benefits attributed to
untuk jasa karyawan masa kini, amortisasi biaya masa employees’ current service costs, as well as
lalu, dan koreksi aktuarial. amortisation of past service cost, and actuary
adjustments.
Berikut ini adalah hal-hal yang diungkapkan dalam The following are disclosed in the actuarial report
laporan aktuaria tanggal 4 Januari 2021, 2 Januari dated 4 January 2021, 2 January 2020, and
2020, dan 2 Januari 2019 dalam menghitung liabilitas 2 January 2019 to calculate the retirement benefits
pensiun pada tanggal 31 Desember 2020, 2019, dan liability as at 31 December 2020, 2019 and 2018,
2018 . respectively.

a. Manfaat pasti (lanjutan) a. Defined benefit plan (continued)
Asumsi-asumsi utama yang digunakan oleh aktuaria The key assumptions used by the independent
independen dalam perhitungan adalah: actuary in calculation are as follows:
2020 2019 2018
Asumsi ekonomi: Economic assumptions:

Tingkat diskonto 6,90% per tahun/ 7,80% per tahun/ 8,30% per tahun/ Discount rate
per annum per annum per annum
Tingkat proyeksi / kenaikan gaji 6% per tahun/ 6% per tahun/ 6% per tahun/ Salary increase rate
Asumsi lainnya: Other assumptions:
Proyeksi kenaikan pensiun di masa datang 5% per tahun/ 5% per tahun/ 5% per tahun/ Expected future pension increases
Usia pensiun normal 55 tahun/ 55 tahun/ 55 tahun/ Normal retirement age
years years years
Tingkat kematian Tabel Mortalitas Tabel Mortalitas Tabel Mortalitas Mortality rate
Indonesia 2019 Indonesia 2011 Indonesia 2011
(TMI 2019)/ (TMI 2011)/ (TMI 2011)/
Indonesian Mortality Indonesian Mortality Indonesian Mortality
Table 2019 Table 2011 Table 2011
(IMT 2019) (IMT 2011) (IMT 2011)
Tingkat cacat 10% dari TMI 2019/ 10% dari TMI 2011/ 10% dari TMI 2011/ Disability rate
of IMT 2019 of IMT 2011 of IMT 2011
Imbal hasil atas aset program 6,90% per tahun/ 7,80% per tahun/ 8,30% per tahun/ Implied rate of return on plan assets
Tingkat pengunduran diri 10% untuk usia 10% untuk usia 10% untuk usia Resignation rate
sampai dengan 25 sampai dengan 25 sampai dengan 25
tahun, dan menurun tahun, dan menurun tahun, dan menurun
dengan garis lurus dengan garis lurus dengan garis lurus
0% pada usia 44 0% pada usia 44 0% pada usia 44
tahun dan 1% tahun dan 1% tahun dan 1%
setelahnya/ setelahnya/ setelahnya/
10% up to age 25, 10% up to age 25, 10% up to age 25,
then decreasing then decreasing then decreasing
linearly to 0% at linearly to 0% at linearly to 0% at
age 44 and 1% age 44 and 1% age 44 and 1%
thereafter thereafter thereafter
Proporsi pensiun normal 100% 100% 100% Proportion of retirement

Jumlah yang diakui di laporan posisi keuangan The amounts recognised in the consolidated
konsolidasian ditentukan sebagai berikut: statements of financial position are determined as
follows:
2020 2019 2018

Nilai wajar aset program 531,655 622,046 661,970 Fair value of plan assets
Nilai kini liabilitas manfaat Present value of funded
pasti yang didanai (741,204) (812,360) (837,850) defined benefit obligation
(209,549) (190,314) (175,880)
Entitas Anak (36,257) (27,726) (18,343) Subsidiary
Liabilitas di laporan posisi keuangan Liability recognised in consolidated

konsolidasian (245,806) (218,040) (194,223) statements of financial position
Mutasi nilai kini liabilitas manfaat pasti yang didanai The movement in the present value of funded defined
selama tahun berjalan adalah sebagai berikut: benefit obligations of the year are as follows:
2020 2019 2018

Present value of
Nilai kini liabilitas pada awal tahun 812,360 837,850 895,476 obligation at beginning of the year
Biaya bunga 55,679 90,974 (95,491) Interest cost
Biaya jasa kini - bruto 14,661 18,139 22,387 Current service cost - gross
Pembayaran imbalan pada tahun berjalan (104,631) (126,493) (105,158) Benefit payments in current year
Pengukuran kembali: Remeasurements:
Kerugian aktuarial yang Actuarial losses from changes in
timbul dari perubahan asumsi keuangan 18,258 18,867 144,178 financial assumption
Kerugian aktuarial yang Actuarial losses from changes in
timbul dari perubahan asumsi demografis 279 - - demographic assumption
(Keuntungan) aktuarial yang Actuarial (gains) from changes in
timbul dari penyesuaian pengalaman (55,402) (26,977) (23,542) experience adjustments
Present value of
Nilai kini liabilitas pada akhir tahun 741,204 812,360 837,850 obligation at end of the year
Rekonsiliasi nilai wajar aset program adalah: The reconciliation of fair value of plan assets is as
follows:
2020 2019 2018
Saldo awal 622,046 661,970 742,820 Beginning balance

Bunga 44,245 54,454 54,497 Interest
Kontribusi perusahaan 11,005 13,222 12,218 Company's contributions
Kontribusi karyawan 5,122 5,308 5,655 Employees' contributions
Keuntungan/(kerugian) aktuaria (46,133) 13,585 (48,062) Actuarial gain/(loss)
Pembayaran selama tahun berjalan (104,630) (126,493) (105,158) Benefits payments during the year
Saldo akhir 531,655 622,046 661,970 Ending balance

Aset program terdiri dari: Plan assets comprise the following:
2020 2019 2018

Dikuotasi/ Tidak dikuotasi/ Jumlah/ Dikuotasi/ Tidak dikuotasi/ Jumlah/ Dikuotasi/ Tidak dikuotasi/ Jumlah/
Quoted Unquoted Total Quoted Unquoted Total Quoted Unquoted Total
Instrumen Ekuitas Equity Instrument
Saham 85,580 - 85,580 98,752 - 98,752 137,875 - 137,875 Stocks
Reksadana 34,640 - 34,640 112,357 - 112,357 125,365 - 125,365 Mutual Fund
Penempatan Langsung - 151,871 151,871 - 150,965 150,965 - 115,917 115,917 Direct Placement
Instrumen Utang Debt Instrument

Obligasi 34,847 - 34,847 43,319 - 43,319 48,643 - 48,643 Bonds
Surat Berharga Pemerintah 185,577 - 185,577 178,821 - 178,821 196,648 - 196,648 Government Bonds
Kas dan Setara Kas Cash and Cash Equivalent

Deposito on call - 4,024 4,024 - 2,400 2,400 - 6,700 6,700 Deposit on call
Deposito - - - - 3,500 3,500 - 750 750 Deposit
Tabungan - - - - 3,370 3,370 - 4,875 4,875 Saving Account
Lain-lain - 35,116 35,116 - 28,562 28,562 - 25,197 25,197 Others

Jumlah 340,644 191,011 531,655 433,249 188,797 622,046 508,531 153,439 661,970 Total
Jumlah yang diakui di laba/rugi adalah: The amounts recognised in profit/loss are as follows:
2020 2019 2018

Biaya jasa kini (9,539) (12,831) (16,732) Current service cost
Bunga bersih (11,434) (36,519) 9,487 Net Interest
(20,973) (49,350) (7,245)
Entitas Anak (10,134) (5,170) 14,142 Subsidiary
Jumlah, disajikan sebagai bagian dari Total, included in personnel
beban tenaga kerja (31,107) (54,520) 6,897 expenses
Mutasi saldo liabilitas yang diakui di dalam laporan The liability movement recognised in the consolidated
posisi keuangan konsolidasian adalah: statements of financial position:
2020 2019 2018
Saldo awal (190,314) (175,880) (152,656) Beginning balance

Beban tahun berjalan (20,973) (49,350) (7,245) Current year expense
Jumlah yang diakui pada pendapatan Total amount recognised in other
komprehensif lain (9,267) 21,694 (28,197) comprehensive income
Kontribusi pemberi kerja terhadap Employer contribution
dana pensiun 11,005 13,222 12,218 to the pension fund
(209,549) (190,314) (175,880)
Entitas Anak (36,257) (27,726) (18,343) Subsidiary
Saldo akhir (245,806) (218,040) (194,223) Ending balance

Sensitivitas dari kewajiban manfaat pasti terhadap The sensitivity of defined benefit obligation to
perubahan asumsi aktuaria adalah sebagai berikut: changes in the weighted assumptions is as follow :
Dampak terhadap kewajiban manfaat pasti/
Impact on defined benefit obligation
2020 2019 2018
Nilai kini kewajiban Nilai kini kewajiban Nilai kini kewajiban
manfaat pasti/ manfaat pasti/ manfaat pasti/
Perubahan Asumsi/ Present value of Biaya jasa kini/ Present value of Biaya jasa kini/ Present value of Biaya jasa kini/
Change in Assumption defined benefit obligation Current service cost defined benefit obligation Current service cost defined benefit obligation Current service cost
Kenaikan/Increase 1% 795,953 (54,749) 795,953 16,407 817,819 20,030
Tingkat diskonto Penurunan/Decrease 1% 830,295 (89,091) 830,295 (17,935) 859,719 (21,869) Discount rate
Kenaikan/Increase 1% 830,320 (89,116) 830,320 (17,960) 859,952 (22,102)

Tingkat kenaikan gaji Penurunan/Decrease 1% 795,641 (54,437) 795,641 16,719 817,262 20,587 Salary increase rate
Analisis sensitivitas didasarkan pada perubahan atas The sensitivity analysis is based on a change in one
satu asumsi aktuarial dimana asumsi lainnya dianggap assumption while holding all other assumptions
konstan. Dalam perhitungan sensitivitas kewajiban constant. When calculating the sensitivity of the
imbalan pasti atas asumsi aktuarial utama, metode yang defined benefit obligation to significant actuarial
sama (perhitungan nilai kini kewajiban imbalan pasti assumptions, the same method (present value of the
dengan menggunakan metode projected unit credit di defined benefit obligation calculated with the
akhir periode) telah diterapkan seperti dalam projected unit credit method at the end of the
penghitungan kewajiban pensiun yang diakui dalam reporting period) has been applied as when
laporan posisi keuangan. calculating the pension liability recognised within the
statement of financial position.
Investasi telah terdiversifikasi dengan baik, sehingga Investments are well-diversified, such that the failure
kinerja buruk satu investasi tidak akan memberikan of any single investment would not have a material
dampak material bagi seluruh kelompok aset. Proporsi impact to the overall group of assets. The largest
terbesar aset investasi ditempatkan pada instrumen proportion of assets are invested in equity and debt
ekuitas dan utang. Diyakini bahwa instrumen ekuitas instruments. Equity and debt instruments are
dan utang memberikan imbal hasil yang paling baik expected to contribute best yields in long term at the
dalam jangka panjang pada tingkatan risiko yang dapat acceptable risk level. For defined benefit program
diterima. Untuk program manfaat pasti sebagian most of equity instruments are stocks and direct
instrumen ekuitas merupakan saham dan penempatan placement.
langsung.
Hasil yang diharapkan dari aset program ditentukan The expected return on plan assets is determined by
dengan mempertimbangkan imbal hasil yang considering the expected returns available on the
diharapkan atas aset yang mengacu pada kebijakan assets in accordance to the current investment policy.
investasi. Hasil investasi bunga tetap didasarkan pada Expected yields on fixed interest investments are
hasil pengembalian bruto pada tanggal pelaporan. Hasil based on gross redemption yields as of the reporting
yang diharapkan dari investasi ekuitas dan properti date. Expected returns on equity and property
mencerminkan tingkat imbal hasil jangka panjang aktual investments reflect long-term real rates of return
yang terjadi untuk tiap-tiap pasar. experienced in the respective markets.

Kontribusi untuk program imbalan pasca kerja untuk Contributions to post-employment benefit plans for
tahun 2020, 2019, dan 2018 masing masing sebesar the year 2020, 2019, and 2018 are Rp 11,005,
Rp 11.005, Rp 13.222, dan Rp 12.218. Rp 13,222, and Rp 12,218, respectively.
Risiko yang terekspos pada program manfaat pasti The exposed risks in defined benefit pension plan is
adalah adanya tingkat hasil investasi dibawah the lower return on investment compared to
asumsi tingkat diskonto dan kenaikan gaji aktual assumption on discount rate and the increase of
yang lebih besar dari asumsi. Hal tersebut actual salary is higher than its assumption. These will
menimbulkan peningkatan iuran yang dibayarkan cause an increase in benefit paid to Pension Fund.
kepada Dana Pensiun.
Analisis jatuh tempo yang diharapkan dari manfaat Expected maturity analysis of pension benefit is as
pension adalah sebagai berikut: follows:
Manfaat pasti/ Dalam 1 tahun/ > 1 sampai 5 tahun/ Lebih dari 5 tahun/ Jumlah/
Defined benefit Within 1 year Between > 1 to 5 years Over 5 years Total
2020 29,776 127,573 2,134,805 2,292,154
2019 46,332 140,584 2,427,074 2,613,990
2018 58,047 158,924 2,965,458 3,182,429
b. Program iuran pasti b. Defined contribution plan
Program pensiun untuk seluruh karyawan eks Bank The defined contribution retirement plan for all ex
Lippo adalah Program Iuran Pasti yang dikelola oleh Bank Lippo permanent employees is administered by
Dana Pensiun Lembaga Keuangan AIA. Sedangkan Dana Pensiun Lembaga Keuangan AIA. Meanwhile
untuk sebagian karyawan eks Bank Niaga dikelola the defined contribution retirement plan for ex Bank
oleh Dana Pensiun Lembaga Keuangan Manulife. Niaga employees is administered by Dana Pensiun
Lembaga Keuangan Manulife.
Berikut ini adalah asumsi yang diungkapkan dalam The following are assumptions disclosed in the
laporan aktuaria tanggal 4 Januari 2021, actuarial report dated 4 January 2021, 2 January
2 Januari 2020, dan 2 Januari 2019 dalam 2020, and 2 January 2019 to calculate the retirement
menghitung liabilitas pensiun pada tanggal benefits liability as at 31 December 2020, 2019, and
31 Desember 2020, 2019, dan 2018. 2018.

b. Program iuran pasti (lanjutan) b. Defined contribution plan (continued)
Asumsi-asumsi utama yang digunakan dalam The key assumptions used by the independent actuary
menentukan biaya imbalan pensiun oleh aktuaria for the calculation of pension benefit expenses, are as
independen adalah: follows:
2020 2019 2018
Asumsi ekonomi: Economic assumptions:

Tingkat diskonto 6,30% per tahun/ 7,50% per tahun/ 8,20% per tahun/ Discount rate
Tingkat proyeksi / kenaikan gaji 6% per tahun/ 6% per tahun/ 6% per tahun/ Salary increase rate
Asumsi lainnya: Other assumptions:

Usia pensiun normal 55 tahun/ 55 tahun/ 55 tahun/ Normal retirement age
years years years
Tingkat kematian Tabel Mortalitas Tabel Mortalitas Tabel Mortalitas Mortality rate
Indonesia 2019 Indonesia 2011 Indonesia 2011
(TMI 2019)/ (TMI 2011)/ (TMI 2011)/
Indonesian Mortality Indonesian Mortality Indonesian Mortality
Table 2019 Table 2011 Table 2011
(IMT 2019) (IMT 2011) (IMT 2011)
Tingkat cacat 10% dari TMI 2019/ 10% dari TMI 2011/ 10% dari TMI 2011/ Disability rate
of IMT 2019 of IMT 2011 of IMT 2011
Imbal hasil atas aset program 6,30% per tahun/ 7,50% per tahun/ 8,20% per tahun/ Implied rate of return on plan assets
Tingkat pengunduran diri 10% untuk usia 10% untuk usia 10% untuk usia Resignation rate
sampai dengan 25 sampai dengan 25 sampai dengan 25
tahun, dan menurun tahun, dan menurun tahun, dan menurun
dengan garis lurus dengan garis lurus dengan garis lurus
0% pada usia 44 0% pada usia 44 0% pada usia 44
tahun dan 1% tahun dan 1% tahun dan 1%
setelahnya/ setelahnya/ setelahnya/
10% up to age 25, 10% up to age 25, 10% up to age 25,
then decreasing then decreasing then decreasing
linearly to 0% at linearly to 0% at linearly to 0% at
age 44 and 1% age 44 and 1% age 44 and 1%
thereafter thereafter thereafter
Proporsi pensiun normal 100% 100% 100% Proportion of retirement

b. Program iuran pasti (lanjutan) b. Defined contribution plan (continued)
Asumsi tingkat pengembalian investasi dihitung The rate of return on investment is calculated based on
berdasarkan proyeksi jangka panjang dengan long term outlook and take into account actual historical
mengacu pada tingkat pengembalian aktual historis. rate of return.
Jumlah liabilitas yang diakui di dalam laporan posisi The liability recognised in the consolidated statements
keuangan konsolidasian adalah: of financial position:
2020 2019 2018
Nilai wajar aset program 125,451 189,021 270,720 Fair value of plan assets
Nilai kini liabilitas manfaat Present value of funded
pasti yang didanai

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2020 Annual Report

PT Bank CIMB Niaga Tbk

The pandemic should not be seen as a

ANNUAL REPORT PREPARATION METHOD AND ABOUT THE REPORT

PERFORMANCE HIGHLIGHTS RISK MANAGEMENT

NEGATION OF AND LIMITATION OF RESPONSIBILITY

4 CIMB NIAGA ANNUAL REPORT 2020

FIVE PILLAR STRATEGY

5 CIMB NIAGA ANNUAL REPORT 2020

Themes 1 Membership in Associations 79

6 CIMB NIAGA ANNUAL REPORT 2020

152 Management Discussion

7 CIMB NIAGA ANNUAL REPORT 2020

432 Supporting Business

286 RISK MANAGEMENT 432 SUPPORTING BUSINESS REVIEW 414

8 CIMB NIAGA ANNUAL REPORT 2020

672 Corporate Social

9 CIMB NIAGA ANNUAL REPORT 2020

2016 2017 2018

10 CIMB NIAGA ANNUAL REPORT 2020

Committed to our brand promise CIMB Niaga believes that consistency,

11 CIMB NIAGA ANNUAL REPORT 2020

KEY HIGHLIGHTS 2020

OPERATING OPERATING PROFIT*

Non-Interest Operating Profit

4.3 8.3 8.1 5.3

8.7% 2.1% 44.5%

2019 2020 2019 2020 2019 2020

Fee Income/ CIR Net

25.3 49.07 48.95 3.9

1.53% 0.12% 48.6%

2019 2020 2019 2020 2019 2020

*2019: Business As Usual excluded Mutual Separation Scheme (MSS)

12 CIMB NIAGA ANNUAL REPORT 2020

BANK Maintained position as Indonesia’s

2019 ASEAN Corporate Governance

Improved Capital Adequacy Ratio

Cost to Income (CIR) ratio was at

CASA reached a total of Rp123.7

*2019: Business As Usual excluded Mutual Separation Scheme (MSS)

13 CIMB NIAGA ANNUAL REPORT 2020

DIGITAL PLATFORM INITIATIVES 2020

The Rise of The Super App.

Started as GO Mobile, it was reintroduced in May 2020

These are the main features of OCTO Mobile:

In its commitment to become a Super App, OCTO Mobile introduced the

Ongoing development of OCTO Mobile will see the introduction of new

14 CIMB NIAGA ANNUAL REPORT 2020

Powerful tool for your business

Previously known as CIMB Clicks, OCTO Clicks is CIMB Niaga’s internet

• Financial Check-Up A full range transaction Time deposits, term

SOPHISTICATED DEPOSIT AND INVESTMENT

15 CIMB NIAGA ANNUAL REPORT 2020

16 CIMB NIAGA ANNUAL REPORT 2020

Description 2020 2019 2018 2017 2016

Total Assets Earning Assets - Net

274.5 280.9 338.9 336.4

17 CIMB NIAGA ANNUAL REPORT 2020

Loans - Net Total Liabilities