Higher profit for CIMB’s Indonesian unit in first 9 months

CIMB Niaga president director Tigor M. Siahaan(file pic) said on a normalised basis (excluding a one-off expense), the group’s annual financial performance continued to trend upward, with revenue levers showing improved momentum.

PETALING JAYA: CIMB Group Holdings Bhd’s 92.5%-owned Indonesian unit, PT Bank CIMB Niaga Tbk, has posted an unaudited consolidated net profit of 2.68 trillion rupiah for the first nine months of 2019 (9M19), translating into an earnings per share (EPS) of 107.4 rupiah.

Excluding a one-off expense of 359 billion rupiah arising from the mutual separation scheme exercise undertaken in the third quarter of 2019, the bank’s business as usual net profit grew 13.7% year-on-year (y-o-y) to 2.95 trillion rupiah for the period in review.