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Banks & Finance

CIMB Niaga Net Profit Increases 29%

April 26, 2012 16:07

JAKARTA: PT Bank CIMB Niaga Tbk scooped unaudited consolidation net profit of IDR937 billion during Q1/2012, up 29% compared to previous year of IDR728 billion.

The net profit yielded earning per share as much as IDR37.26, higher than the same period last year (IDR29.30).

The increase in profit was supported by increasing operating revenue by 30% to IDR3.17 trillion, up from the same period in 2011 amounted to IDR2.45 trillion.

In a press release received by Bisnis, Thursday, April 26, 2012, the loan growth occurred in all segments ranging from commercial, corporate, and retail which respectively grew by 23%, 17%, and 11%.

Until the end of March 2012, the subsidiary of CIMB Group of Malaysia has channeled loans amounted to IDR129.83 trillion, up 18% from the same period a year earlier.

The increase in loan was in line with  the assets quality by listing gross non performing loans (NPL) ratio at 2.69%, improved if compared to March 31, 2011 position at 2.86%.

CIMB Niaga will continue to support loan development which has good prospects, such as micro finance, rahn (pledge), and Motor Laju.

CIMB Niaga Deputy President Director Catherine Hadiman said the management provides full support for the development of these businesses. This can be seen from the increasing Mikro Laju outlets from 142 outlets to 246 outlets with loan growth of 220%.

Moreover, the pledge business managed to record a growth of 380% to IDR57.98 billion over 67 outlets owned.

"In addition, Motor Laju business we launched last July 2011 has gained 117% growth compared to previous quarter to IDR226.5 billion," he said. (T07/faa)