CIMB Niaga results within expectations

PETALING JAYA: The financial results of CIMB Group Holdings Bhd’s 92.5% indirectly-owned subsidiary, PT Bank CIMB Niaga Tbk’s (CIMB Niaga), were within analysts’ expectations but most are not upgrading their earnings estimates for the lender just yet, amid a cautious outlook.

Kenanga Research said the group’s Indonesian operations would continue to gain market share in 2022 by capitalising on economic revitalisation.