The fund injection raised CIMB Niaga Syariah`s capital to Rp450 billion as per December 31, 2011, the bank said in a press statement.
"The fund injection is part of the CIMB Niaga`s commitment to support the growth of sharia banking business particularly financing as well as to maintain its CAR (capital adequacy ratio)," CIMB Niaga retail banking and sharia director Ferdy Sutrisno said.
He said the fund injection was important to support the growth of the bank`s sharia banking business as capital was an essential factor to support the growth of financing business.
Therefore, he added that CIMB Niaga Syariah had set itself the target of maintaining its CAR at above 14 percent, he said.
CIMB Niaga Head of Syariah Banking U Saefudin Noer said meanwhile the bank three times injected funds to its sharia unit in the past two years.
The bank injected Rp135 billion in March 2010, Rp100 billion in June 2011 and Rp100 billion on December 9, 2011 to CIMB Niaga Syariah, he said.
According to a Bank CIMB Niaga report published in September 2011, the amount of financing channeled by the sharia unit rose 95 percent to Rp2.82 trillion in September 2011 from Rp1.45 trillion in September 2010.
The amount of third party fund placement in the sharia unit also increased 95 percent to Rp3.44 trillion from Rp1.76 trillion. (*)
S012/HAJM
Editor: Jafar M Sidik
Copyright © ANTARA 2012
