MUN:NKX

Stock Analysis Report

Bank CIMB Niaga

Executive Summary

PT Bank CIMB Niaga Tbk provides various banking products and services to small to medium enterprises, individuals, and corporate customers in Indonesia and internationally.


Snowflake Analysis

Very undervalued with excellent balance sheet.

Share Price & News

How has Bank CIMB Niaga's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: NKX's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-6.2%

NKX

6.0%

DE Banks

7.2%

DE Market


1 Year Return

-49.0%

NKX

-33.3%

DE Banks

-17.5%

DE Market

Return vs Industry: NKX underperformed the German Banks industry which returned -31.4% over the past year.

Return vs Market: NKX underperformed the German Market which returned -14.1% over the past year.


Shareholder returns

NKXIndustryMarket
7 Day-6.2%6.0%7.2%
30 Day-30.1%-27.5%-22.3%
90 Day-29.7%-23.2%-26.1%
1 Year-47.7%-49.0%-31.2%-33.3%-14.9%-17.5%
3 Year-44.9%-47.5%-42.0%-44.8%-18.7%-25.7%
5 Year-26.9%-30.4%-39.2%-51.6%-17.8%-29.1%

Price Volatility Vs. Market

How volatile is Bank CIMB Niaga's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Bank CIMB Niaga undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: NKX (€0.04) is trading below our estimate of fair value (€0.11)

Significantly Below Fair Value: NKX is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: NKX is good value based on its PE Ratio (4.4x) compared to the Banks industry average (14.9x).

PE vs Market: NKX is good value based on its PE Ratio (4.4x) compared to the German market (16.6x).


Price to Earnings Growth Ratio

PEG Ratio: NKX is good value based on its PEG Ratio (0.5x)


Price to Book Ratio

PB vs Industry: NKX is good value based on its PB Ratio (0.4x) compared to the DE Banks industry average (0.8x).


Next Steps

Future Growth

How is Bank CIMB Niaga forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

9.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: NKX's forecast earnings growth (9.4% per year) is above the savings rate (-0.4%).

Earnings vs Market: NKX's earnings (9.4% per year) are forecast to grow slower than the German market (14.7% per year).

High Growth Earnings: NKX's earnings are forecast to grow, but not significantly.

Revenue vs Market: NKX's revenue (12.9% per year) is forecast to grow faster than the German market (4% per year).

High Growth Revenue: NKX's revenue (12.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: NKX's Return on Equity is forecast to be low in 3 years time (10.6%).


Next Steps

Past Performance

How has Bank CIMB Niaga performed over the past 5 years?

28.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: NKX has high quality earnings.

Growing Profit Margin: NKX's current net profit margins (26.9%) are lower than last year (27.2%).


Past Earnings Growth Analysis

Earnings Trend: NKX's earnings have grown significantly by 28.9% per year over the past 5 years.

Accelerating Growth: NKX's earnings growth over the past year (4.7%) is below its 5-year average (28.9% per year).

Earnings vs Industry: NKX earnings growth over the past year (4.7%) exceeded the Banks industry 3.9%.


Return on Equity

High ROE: NKX's Return on Equity (8.4%) is considered low.


Next Steps

Financial Health

How is Bank CIMB Niaga's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: NKX has a low level of unsold assets or inventory.

Debt Coverage by Assets: NKX's debt is covered by short term assets (assets are 2x debt).


Financial Institutions Analysis

Asset Level: NKX's level of assets compared to its equity is low.

Allowance for Bad Loans: NKX has a sufficient allowance for bad loans.

Low Risk Liabilities: NKX's liabilities are made up of primarily low risk sources of funding.

Loan Level: NKX has an acceptable proportion of non-loan assets held.

Low Risk Deposits: NKX's loans are broadly funded by customer deposits.

Level of Bad Loans: NKX has a high level of bad loans (2.73%)


Next Steps

Dividend

What is Bank CIMB Niaga's current dividend yield, its reliability and sustainability?

4.33%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: NKX's dividend (4.33%) is higher than the bottom 25% of dividend payers in the German market (1.66%).

High Dividend: NKX's dividend (4.33%) is low compared to the top 25% of dividend payers in the German market (4.86%).


Stability and Growth of Payments

Stable Dividend: NKX has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: NKX's dividend payments have increased, but the company has only paid a dividend for 9 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (19.1%), NKX's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: NKX's dividends in 3 years are forecast to be well covered by earnings (35.8% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

3.9yrs

Average management tenure


CEO

Tigor Siahaan (47yo)

4.75s

Tenure

Mr. Tigor Marsahala Siahaan serves as Chief Executive Officer of Indonesia at CIMB Bank Berhad, Singapore Branch. Mr. Siahaan has been Country Head of Indonesia and President Director of CIMB Niaga at CIMB ...


Leadership Team

NamePositionTenureCompensationOwnership
Tigor Siahaan
President Director & CEO4.75yrsno data0.026% IDR229.2k
Lee Kwong
CFO, Head of Finance & Strategic Procurement and Admin Property Management and Director1.17yrsno datano data
Rita Mas'Oen
Director of Operations & Information Technology and Director10.33yrsno data0.00076% IDR6.7k
Lan Oei
Director of Compliance3.67yrsno data0.00068% IDR6.0k
Surya Sulistijo
Head of Legal & General Counsel3.83yrsno datano data
Toni Darusman
Head of Marketingno datano datano data
Sjarif Gunawan
Head of Salesno datano datano data
Hedy Maria Lapian
Director of Human Resources & Director3.58yrsno data0.00071% IDR6.3k
Pandji Djajanegara
Director of Sharia Banking & Director3.5yrsno data0.00050% IDR4.4k
Megawati Sutanto
Credit Director & Director9yrsno data0.00060% IDR5.3k

3.9yrs

Average Tenure

53yo

Average Age

Experienced Management: NKX's management team is considered experienced (3.9 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Tigor Siahaan
President Director & CEO4.75yrsno data0.026% IDR229.2k
Lee Kwong
CFO, Head of Finance & Strategic Procurement and Admin Property Management and Director1.17yrsno datano data
Rita Mas'Oen
Director of Operations & Information Technology and Director10.33yrsno data0.00076% IDR6.7k
Lan Oei
Director of Compliance3.67yrsno data0.00068% IDR6.0k
Hedy Maria Lapian
Director of Human Resources & Director3.58yrsno data0.00071% IDR6.3k
Pandji Djajanegara
Director of Sharia Banking & Director3.5yrsno data0.00050% IDR4.4k
Megawati Sutanto
Credit Director & Director9yrsno data0.00060% IDR5.3k
Vera Handajani
Risk Management Director & Director6.33yrsno data0.00095% IDR8.4k
Lani Darmawan
Director of Consumer Banking & Director3.67yrsno data0.00083% IDR7.3k
Rahardja Alimhamzah
Director of Business Banking & Director2.58yrsno data0.00055% IDR4.9k

3.7yrs

Average Tenure

54.5yo

Average Age

Experienced Board: NKX's board of directors are considered experienced (3.7 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

PT Bank CIMB Niaga Tbk's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: PT Bank CIMB Niaga Tbk
  • Ticker: NKX
  • Exchange: MUN
  • Founded: 1955
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: Rp15.955t
  • Listing Market Cap: Rp882.872m
  • Shares outstanding: 24.93b
  • Website: https://www.cimbniaga.com

Number of Employees


Location

  • PT Bank CIMB Niaga Tbk
  • Jl. Jend. Sudirman Kav. 58
  • Jakarta
  • 12190
  • Indonesia

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BNGAIDX (Indonesia Stock Exchange)YesLINKED SHARES ('A' IDR5000 & 'B' IDR50)IDIDRSep 1990
NKXMUN (Boerse Muenchen)YesLINKED SHARES ('A' IDR5000 & 'B' IDR50)DEEURSep 1990

Biography

PT Bank CIMB Niaga Tbk provides various banking products and services to small to medium enterprises, individuals, and corporate customers in Indonesia and internationally. The company operates through Corporate, Business, Retail, Treasury, and Sharia segments. It offers consumer banking services, such as savings accounts, current accounts, and fixed deposits; loans, including mortgage, auto financing, and personal financing; general and life bancassurance products; wealth management services; remittance products; and credit and debit cards. The company also provides business banking products and services comprising current accounts, time deposits, and deposits on call; working capital financing services and investment loans; treasury and capital market products, including foreign exchange transactions, bonds, and hedging products, as well as online services; transaction banking services comprising cash management and trade finance service, as well as distributor, supplier, and retailer financing; and general and group bancassurance products. As of March 31, 2019, it operated a network of 492 channels, which included 418 branches, 20 payment and cash points, 27 digital lounges, and 27 mobile cash facilities. The company was formerly known as PT Bank Niaga Tbk and changed its name to PT Bank CIMB Niaga Tbk in May 2008. The company was founded in 1955 and is headquartered in Jakarta, Indonesia. PT Bank CIMB Niaga Tbk operates as a subsidiary of CIMB Group Sdn. Bhd. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/03/27 21:49
End of Day Share Price2020/03/27 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.