/2012/09/25/82645625p.jpg)
JAKARTA. Malaysia’s CIMB Group Holdings Berhad announced on Friday that it reaped RM 4.35 billion (US$1.4 billion) in net profits last year, a 7.8 percent increase year on year.
“We delivered another set of record profits for the full year 2012, underpinned by strong earnings growth in most of our business lines. I am especially pleased that this was achieved without aggressive lending growth and despite investing and undergoing substantial internal changes in line with our ‘CIMB 2.0’ theme, to strengthen our competitive edge going forward,” CIMB Group chief executive Dato’ Sri Nazir Razak said in a written statement.
The company’s revenue rose 11.3 percent to RM 13.49 billion. The company said that it enjoyed growing consumer banking operations in Indonesia and that profit before tax from its Indonesian units Bank CIMB Niaga expanded by 45.9 percent year on year.
CIMB Niaga previously announced that its net profits rose 33.4 percent year on year to Rp 4.23 trillion and lending of 15.7 percent to Rp 145.4 trillion in 2012.
CIMB Group said that it managed to maintain a market position in consumer banking in Indonesia. It said that it had lost some ground in Indonesian mortgages but gained ground in Indonesian credit cards.
