(18 June 2012 – Malaysia) CIMB predicts that its business in Indonesia will surpass that from its home base of Malaysia in profit before tax in three years.The Malaysian bank’s operation in Indonesia has been boosted by its subsidiary Bank CIMB Niaga, which in the first quarter contributed 32 percent to CIMB Group’s total profit before tax.
“By 2015, Malaysia will be just under 40 percent, Indonesia will be just over 40 percent, that’s my expectation today,” said CIMB Group CEO Nazir Razak.