KUALA LUMPUR (Feb 27): CIMB Group Holdings Bhd posted net profit of RM1.132 billion in the fourth quarter ended Dec 31, 2011, up 29.8% from RM872.61 million a year ago.
It said on Monday the 4QFY11 earnings were also 12% higher than the 3Q earnings. CIMB said its revenue was 6.1% higher at RM3.381 billion compared with RM3.185 billion. Its earnings per share were 15.24 sen compared with 11.76 sen.
CIMB Group also announced a second interim dividend of 10.0 sen amounting to a net payment of RM743 million. This brings the total FY11 dividends to RM1.635 billion or 22.0 sen, translating to a dividend payout ratio of 40.6% of FY11 profits.
For FY11, it posted a record net profit of RM4.031 billion for 2011, or up 15.1% when compared with RM3.500 billion in FY10. The FY11 net return on equity (ROE) was also a record high 16.4%, but below the group’s full-year target of 17%. Its revenue for FY11 was RM12.122 billion, up 2.05% from the RM11.878 billion in FY10.
Datuk Seri Nazir Razak, the group chief executive of CIMB Group said: "We delivered record profits and returns on equity in a year when revenue growth was subdued due to the high 2010 non-interest income base, compressing interest margins and our more cautious approach to asset growth.
“We managed costs well and drove down credit charges. I am therefore very pleased with our operating results and especially proud of the efforts and sacrifices made by most of our staff across the region this year. Our primary disappointment was our share price which significantly underperformed benchmarks,” he said.
It said on Monday the 4QFY11 earnings were also 12% higher than the 3Q earnings. CIMB said its revenue was 6.1% higher at RM3.381 billion compared with RM3.185 billion. Its earnings per share were 15.24 sen compared with 11.76 sen.
CIMB Group also announced a second interim dividend of 10.0 sen amounting to a net payment of RM743 million. This brings the total FY11 dividends to RM1.635 billion or 22.0 sen, translating to a dividend payout ratio of 40.6% of FY11 profits.
For FY11, it posted a record net profit of RM4.031 billion for 2011, or up 15.1% when compared with RM3.500 billion in FY10. The FY11 net return on equity (ROE) was also a record high 16.4%, but below the group’s full-year target of 17%. Its revenue for FY11 was RM12.122 billion, up 2.05% from the RM11.878 billion in FY10.
Datuk Seri Nazir Razak, the group chief executive of CIMB Group said: "We delivered record profits and returns on equity in a year when revenue growth was subdued due to the high 2010 non-interest income base, compressing interest margins and our more cautious approach to asset growth.
“We managed costs well and drove down credit charges. I am therefore very pleased with our operating results and especially proud of the efforts and sacrifices made by most of our staff across the region this year. Our primary disappointment was our share price which significantly underperformed benchmarks,” he said.
