KUALA LUMPUR (May 24): CIMB Group Holdings Bhd net profit for the first quarter ended March 31, 2012 rose 10.3% to RM1.01 billion from RM916.51 million a year earlier, on the back of a 18.54% increase in revenue to RM3.26 billion from RM2.75 billion in 2011.
Earnings per share was 13.60 sen compared to 12.33 sen previously, while net assets per share was RM3.49.
In a statement on Thursday, CIMB group chief executive Datuk Seri Nazir Razak said the year had started well for the banking group, driven by outperformance at the regional corporate banking and treasury markets (CBTM) division and sustained high growth momentum at CIMB Niaga.
"We maintained our moderate growth momentum with total assets and net loans increasing by 14% and 12% respectively," he said.
Nazir said the latest financial statements provided enhanced disclosure of segment financials to reflect the group's integrated regional platform.
"This provides a clearer reflection of how management views the operating business lines across the entire group and enhances overall transparency to stakeholders," he said.
On its outlook, Nazir said that despite the heightened downside risk to the global economy and markets, CIMB remained optimistic that it would be able to achieve its targets for 2012.
"Our deal pipeline is strong and we believe that we can mitigate the expected slower growth in consumer lending across the region by improving liability management and improving non-interest income," he said.