CIMB Indonesian unit, CIMB Niaga, profits lower in first half

PETALING JAYA: Amidst a volatile operating environment, PT Bank CIMB Niaga reported an unaudited consolidated net profit of 1.95 trillion rupiah (about RM536mil) for the first six months of 2014, down 8.5% from 2.13 trillion rupiah (about RM585mil based on exchange rate of RM1 is 3,637 rupiah) reported in the same period in 2013.

The Indonesian banking arm of CIMB Group Bhd said in a statement the decrease in net profit was mainly due to a lower increase in net interest income of 4% year-on-year and lower fee income of 1.51 trillion rupiah, which is 5.9% less compared to the corresponding period last year.