CIMB reports 12.6% rise in profits for first nine months
(23 November 2012 – Singapore) CIMB Group has reported a record net profit of RM3.263 billion (A$1.02 billion) for the first nine months of 2012.
Thanks to CIMB Niaga, CIMB Bank Singapore and corporate banking and treasury markets, this means the Group’s net profit is up 12.6 percent year-on-year.
'We had a good 3Q12 and 9MFY12, underpinned by strong performances at CIMB Niaga, CIMB Bank Singapore and Corporate Banking and Treasury Markets ("CBTM"),' said Dato’ Sri Nazir Razak, Group chief executive, CIMB Group.
"At the same time, we defended key market shares and added important building blocks to the franchise."
CIMB Group’s 9MFY12 revenue increased by 15.8 percent year-in-year to RM10.126 billion, largely due to the 25.8 percent expansion in non-interest income.
The Group’s profit before tax (PBT) was 13.4 percent higher at RM4.307 billion as increased credit charges and overhead expenses partially offset the revenue improvement.
Consumer Banking operations remain the largest contributor to Group PBT at 39 percent (no change from 9MFY11).
Treasury & Markets contribution to Group PBT jumped to 26 percent from 16 percent in 9MFY11.
Corporate Banking, Investment Banking and Investments contributed 22 percent, 4 percent and 9 percent respectively.
'We had a good 3Q12 and 9MFY12, underpinned by strong performances at CIMB Niaga, CIMB Bank Singapore and Corporate Banking and Treasury Markets ("CBTM"),' said Dato’ Sri Nazir Razak, Group chief executive, CIMB Group.
"At the same time, we defended key market shares and added important building blocks to the franchise."
CIMB Group’s 9MFY12 revenue increased by 15.8 percent year-in-year to RM10.126 billion, largely due to the 25.8 percent expansion in non-interest income.
The Group’s profit before tax (PBT) was 13.4 percent higher at RM4.307 billion as increased credit charges and overhead expenses partially offset the revenue improvement.
Consumer Banking operations remain the largest contributor to Group PBT at 39 percent (no change from 9MFY11).
Treasury & Markets contribution to Group PBT jumped to 26 percent from 16 percent in 9MFY11.
Corporate Banking, Investment Banking and Investments contributed 22 percent, 4 percent and 9 percent respectively.
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