CIMB's Indonesia unit Niaga posts RM665mil earnings

KUALA LUMPUR: PT Bank CIMB Niaga Tbk (CIMB Niaga), CIMB Group’s consumer banking arm in Indonesia, reported an audited consolidated net profit of 2.13 trillion rupiah (RM664.53mil) for the first six months of 2013, up 8% from the same period last year.

This translates to earnings per share of 84.9 rupiah which was higher than 78.93 rupiah recorded in 2012, CIMB Niaga said in a statement yesterday.

The increase in net profit was due to higher net interest income of 4.92 trillion rupiah on the back of reduced provision expenses and improved asset quality.

CIMB Niaga remained the fifth largest bank in terms of assets at 202.2 trillion rupiah, up by 13% from the same period last year.

“Amidst the challenging business climate globally and domestically, with rising interest rates and inflationary pressures from fuel price increases, CIMB Niaga remained steadfast in sustaining a steady growth in loan book and third party deposits,” said president director Arwin Rasyid. — Bernama

looks like everyone is doing well in indonesia