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CIMB Group reports $1.4bn net profit for 2012

CIMB Group has reported a net profit of RM4.35bn ($1.4bn) for 2012, representing a 7.8% yearly growth, compared to RM4.031bn ($1.29bn) during the comparable period last fiscal.

For the year ended on 31 December 2012, its revenues stood at RM13.495bn ($4.351bn), with an increase of 11.3% compared to earlier year.

Net interest income witnessed an increase of 10.6% while non-interest income grew by 12.7%, supported by record capital market transactions and an uplift in treasury markets activity.

The Group’s profit before tax (PBT) rose by 9.1% to RM5.678bn ($1.83bn) compared to RM5.203bn ($1.67bn) during the corresponding period a year ago.

Consumer Bank PBT grew by 23.9% to RM2.323bn ($749m); while the Malaysia & Singapore consumer operations PBT rose by 17.7%.

The Group’s regional Wholesale Banking PBT increased by 23.1% to RM2.868bn ($924m); while Consumer Banking operations remain the largest contributor to Group PBT at 41%.

It is expected that CIMB Bank’s risk weighted capital ratio stood at 16%; while its core capital ratio is likely to be 12.8% as at 31 December 2012, after inclusion of 2012 net profits and proposed DRS.