CIMB Niaga's pre-tax profit rises 7.8% to 2.2 trillion rupiah

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%.