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    BNGA   ID1000098007

PT BANK CIMB NIAGA TBK

(BNGA)
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PT Bank CIMB Niaga Tbk : CIMB Niaga and JCB launch JCB Contactless Credit Card in Indonesia

09/02/2021 | 11:01pm EDT

JAKARTA & TOKYO, Sept 3, 2021 - (JCN Newswire) - - PT Bank CIMB Niaga Tbk (CIMB Niaga) and PT JCB International Indonesia (JCB), as subsidiaries of JCB International Co Ltd., launched the CIMB Niaga JCB Contactless Credit Card in Jakarta, Friday, 3 September 2021. This credit card with contactless technology was developed in line with the rapid growth of credit card technology and the COVID-19 pandemic situation. The Contactless Credit Card can make it easier for customers to transact as well as become an alternative faster payment solution. Supported by dual liaison capabilities, this credit card can still be used for transactions using the dipping method.

CIMB Niaga Consumer Banking Director, Lani Darmawan, said, "CIMB Niaga continues to develop innovative products and services by adopting the latest technology. One of them is through the CIMB Niaga JCB Contactless Credit Card. With this card, customers can transact at various merchants without touching other objects. We hope that this initiative can improve customer experience in the midst of the current situation."

Meanwhile, President Director of PT JCB International Indonesia, Takumi Takahashi, said, "We are delighted that CIMB Niaga is the first bank in Indonesia to implement JCB Contactless through the launch of the CIMB Niaga JCB Contactless Credit Card. This contactless payment is safe and convenient for customers. We believe this new product will contribute to accelerating digitization in the payment industry in Indonesia."

The issuance of the CIMB Niaga JCB Contactless Credit Card is an initiative of CIMB Niaga and JCB to provide an easier, faster and simpler transaction experience. With the contactless method, according to Bank Indonesia regulations, customers do not need to enter a PIN for nominal transactions under Rp. 1 million, while transactions above Rp. 1 million require a PIN. As for the transaction process, customers just need to tap-and-go. This is faster than inserting a card into an Electronic Data Capture (EDC) machine or paying with cash.

In addition, Contactless Credit cards also have the same level of security as dipping cards. Every contactless transaction on the card reader or EDC machine will be processed by the Bank and JCB card processing network through an authorization that is as secure as transactions through the dipping method.

CIMB Niaga JCB Contactless Credit Card customers can use the JCB Contactless feature at more than 100 thousand merchants in Indonesia. In addition, over the past three years, the number of JCB Contactless partners globally has also continued to grow.

About CIMB Niaga

CIMB Niaga was established under the name of Bank Niaga in 1955. Approximately 92.5% of CIMB Niaga's shares (including those owned by PT Commerce Kapital of 1.02%) are owned by the CIMB Group. CIMB Niaga offers complete banking products and services, both conventional and Sharia, through a 428 office network as of 30 June 2021, consisting of 358 branch offices, 37 Digital Lounges and 33 Mobile Branches. CIMB Niaga has 12,389 employees (consolidated) as of June 30, 2021.

CIMB Group is the second largest financial services provider in Malaysia and one of the leading universal banking groups in ASEAN. The products and services it offers include consumer banking products and services, investment banking, Islamic banking, asset management and insurance. CIMB Group is headquartered in Kuala Lumpur, and operates in all ASEAN member countries (Malaysia, Indonesia, Thailand, Singapore, Cambodia, Brunei, Vietnam, Myanmar, Laos, and the Philippines). In addition to the ASEAN region, CIMB Group has also established offices in China, Hong Kong, India, Sri Lanka, the United States, the United Kingdom, and Korea. CIMB Group's shares are listed on Bursa Malaysia through CIMB Group Holdings Berhad. As of 30 June 2021, the group has a market capitalization value of USD 11.1 billion.

About JCB

JCB is a major global payment brand and a leading credit card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding worldwide in 1981. Its acceptance network includes about 36 million merchants around the world. JCB Cards are now issued mainly in Asian countries and territories, with more than 140 million cardmembers. As part of its international growth strategy, JCB has formed alliances with hundreds of leading banks and financial institutions globally to increase its merchant coverage and cardmember base. As a comprehensive payment solution provider, JCB commits to providing responsive and high-quality service and products to all customers worldwide. For more information, please visit: www.global.jcb/en/

Contacts

JCB

Ayaka Nakajima

Corporate Communications

JCB Co., Ltd.

Tel: +81-3-5778-8353

Email: jcb-pr@jcb.co.jp

CIMB Niaga

Deddy T. Hasibuan

Media Relations and Reputation Group Head

PT Bank CIMB Niaga Tbk

Tel: +6221 2700555

Website: www.cimbniaga.com

Copyright 2021 JCN Newswire . All rights reserved.

© Japan Corporate News, source JCN Press Releases

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Financials
Sales 2021 16 966 B 1,20 B 1,20 B
Net income 2021 2 913 B 0,21 B 0,21 B
Net Debt 2021 - - -
P/E ratio 2021 8,97x
Yield 2021 2,47%
Capitalization 27 049 B 1 913 M 1 920 M
Capi. / Sales 2021 1,59x
Capi. / Sales 2022 1,48x
Nbr of Employees 11 552
Free-Float 0,29%
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Mean consensus OUTPERFORM
Number of Analysts 3
Last Close Price 1 085,00 IDR
Average target price 1 176,67 IDR
Spread / Average Target 8,45%
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Managers and Directors
Tigor M. Siahaan President Director & Chief Executive Officer
Kai Kwong Lee Director-Strategy & Finance
Didi Syafruddin Yahya President Commissioner
Yenny Siswanto Head-Information Technology
Fransiska Oei Secretary, Director-Legal & Compliance
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