KUALA LUMPUR: CIMB Group
Holdings Bhd’s 92.5%-owned Indonesian arm, PT Bank CIMB Niaga Tbk’s (CIMB Niaga) pretax profit rose 7.8% year-on-year (YoY) to 2.2 trillion rupiah in the first quarter of 2024, translating to earnings per share of 66.96 rupiah.
“Our healthy loan growth and improved asset quality indicators have laid a robust foundation for value creation, complemented by effective cost management with cost to income ratio (CIR) coming in below 45%.
“These achievements reflect our unwavering commitment to delivering sustainable profitability and reinforcing our confidence on a positive outlook for the remainder of the year,” president director Lani Darmawan said in a statement.
CIMB Niaga maintains a solid capital and liquidity position with capital adequacy ratio (CAR) and loan-to-deposit ratio (LDR) of 24.5% and 84.2% respectively.
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