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NewsCIMB Niaga's Q1 earnings up 29% to RM311.6m
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CIMB Niaga's Q1 earnings up 29% to RM311.6m
by hlk Thu 26 Apr 2012, 20:09
KUALA LUMPUR: PT Bank CIMB Niaga Tbk's earnings rose 29% to Rp937bil (RM311.62mil) in the first quarter ended March 31, 2012 from Rp728bil a year ago.
CIMB Group Bhd said its 97.9% CIMB Niaga's higher net profit was underpinned by a 30% increase in operating income to Rp3.17 trillion from Rp2.45 trillion a year ago.
"This translated to earnings per share (EPS) of Rp37.26, higher than the corresponding period in 2011 of Rp29.30," it said.
CIMB Niaga, which is Indonesia's fifth largest bank by asset size, said loans in all business segments, that is commercial, corporate and retail grew by 23%, 17%, and 11% respectively from a year ago.
As of March 31, loans grew by 18% to Rp129.83 trillion. Its non-performing loan (NPL) ratio (gross) of 2.69% as of March 31, 2012, was an improvement compared with 2.86% a year ago.
CIMB Niaga's total assets as of March 31 reached Rp172.68 trillion, up 16% from Rp149.05 trillion a year ago.
CIMB Group Bhd said its 97.9% CIMB Niaga's higher net profit was underpinned by a 30% increase in operating income to Rp3.17 trillion from Rp2.45 trillion a year ago.
"This translated to earnings per share (EPS) of Rp37.26, higher than the corresponding period in 2011 of Rp29.30," it said.
CIMB Niaga, which is Indonesia's fifth largest bank by asset size, said loans in all business segments, that is commercial, corporate and retail grew by 23%, 17%, and 11% respectively from a year ago.
As of March 31, loans grew by 18% to Rp129.83 trillion. Its non-performing loan (NPL) ratio (gross) of 2.69% as of March 31, 2012, was an improvement compared with 2.86% a year ago.
CIMB Niaga's total assets as of March 31 reached Rp172.68 trillion, up 16% from Rp149.05 trillion a year ago.
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