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