KUALA LUMPUR (Feb 22): PT Bank CIMB Niaga Tbk reported a 25% increase in audited consolidated net profit of Rp3.17 trillion (RM1.06 billion, where 1,000 rupiah = 33.48 sen) for the financial year ended Dec 31, 2011 from IDR2.55 trillion in FY10.
CIMB Niaga said on Wednesday the higher net profit was boosted by a 17% increase in operating income from Rp8.89 trillion to Rp10.37 trillion while total loans grew 20% from Rp104.89 trillion to Rp125.70 trillion.
Earnings per share were IDR126.77, higher than the IDR106.46 in FY10.
CIMB Niaga recorded loans growth across all business segments -- commercial, corporate, and retail which grew by 23%, 19% and 14% on-year.
In 2011, CIMB Niaga continues to maintain its position as Indonesia’s fifth largest bank by asset size.
The bank’s total assets as at Dec 31, 2011 reached IDR166.80 trillion, up 16% from 2010’s IDR143.65 trillion. Return on asset (ROA) was 2.85%, or up 10 basis points from the 2.75% in 2012.
President Director of CIMB Niaga Arwin Rasyid said both Mikro Laju and automotive loans helped contributed to the highest growth.
The bank's higher loans were supported by growing customer deposits by 12% to IDR131.81 trillion. It reflected the consistency shown by CIMB Niaga in performing its intermediary role.
Current account savings account increased by 14% to IDR58.42 trillion as at Dec 31, 2011. Subsequently, the bank’s low cost fund ratio was recorded at 44.32%, up 74 bps.
CIMB Niaga said on Wednesday the higher net profit was boosted by a 17% increase in operating income from Rp8.89 trillion to Rp10.37 trillion while total loans grew 20% from Rp104.89 trillion to Rp125.70 trillion.
Earnings per share were IDR126.77, higher than the IDR106.46 in FY10.
CIMB Niaga recorded loans growth across all business segments -- commercial, corporate, and retail which grew by 23%, 19% and 14% on-year.
In 2011, CIMB Niaga continues to maintain its position as Indonesia’s fifth largest bank by asset size.
The bank’s total assets as at Dec 31, 2011 reached IDR166.80 trillion, up 16% from 2010’s IDR143.65 trillion. Return on asset (ROA) was 2.85%, or up 10 basis points from the 2.75% in 2012.
President Director of CIMB Niaga Arwin Rasyid said both Mikro Laju and automotive loans helped contributed to the highest growth.
The bank's higher loans were supported by growing customer deposits by 12% to IDR131.81 trillion. It reflected the consistency shown by CIMB Niaga in performing its intermediary role.
Current account savings account increased by 14% to IDR58.42 trillion as at Dec 31, 2011. Subsequently, the bank’s low cost fund ratio was recorded at 44.32%, up 74 bps.
