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NEWS UPDATES Asean Affairs     March 15, 2017  

CIMB Niaga Syariah eyes 40 percent growth in 2017

CIMB Niaga Syariah, a sharia unit of private lender CIMB Niaga, has set an optimistic growth target for its financing disbursement this year by boosting its mortgage and Syariah Gold Card, a service similar to the credit card facility offered by CIMB Niaga.

CIMB Niaga sharia banking director Pandji P. Djajanegara said financing was expected to increase 40 percent this year to Rp 14.29 trillion (US$1.07 billion) from last year.   

The sharia unit aims to channel Rp 3.5 trillion in mortgage financing in 2017 from 2016.

It also targets to see 10,000 new Syariah Gold Card holders every month, eventually bringing the card holder total to 355,000 by the end of 2017 from 235,000 last year.

“We do not plan to expand our 29 existing branches but will focus instead on utilizing and equipping our staff at about 500 branches of CIMB Niaga across the country to enable them to sell sharia products to our existing conventional banking customers,” Pandji said.

In 2016, CIMB Niaga Syariah booked Rp 12.78 trillion in assets, an increase of 40.34 percent from the previous year.

“Initially we did not set the target high but ended with positive results nonetheless. We hope by the end of this year, we can exceed our target,” Pandji said.

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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






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