CIMB's 9-month profit up 27.7%

CIMB reported a net profit of US$593 million for the 9 months of 2009 due to divisions' good performances. This represents a 22.7 percent year-on-year growth, equivalent to net earnings per share of US$0.168. The Group's annualised net return on equity was 14.7 percent.

For the third quarter of 2009, the Group's net profit of US$215 million was 9.7 percent higher than the second quarter of 2009. On a Y-o-Y basis, this represented a 62.3 percent growth over the third quarter 2008 net profit of US$132.6 million.

"This is our best operating 9 months and single quarter results ever due to a combination of good performances by most of our divisions and our enlarged platform in Indonesia. The main disappointment this year has been our international (ex-Asean) banking portfolio which saw higher loan losses due to the effects of the global financial crisis," said Dato’ Sri Nazir Razak, CIMB Group CEO.