PT Bank CIMB Niaga Tbk Reports Unaudited Consolidated and Parent Earnings Results for the First Quarter Ended March 31, 2017
April 27, 2017 at 02:56 pm EDT
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PT Bank CIMB Niaga Tbk reported unaudited consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, on consolidated basis, the company reported net profit of IDR 640 billion representing a 137.9% year-on-year growth, and translating to an earnings per share of IDR 25.45 million. The improved net profit came on the back of a 9.1% year-on-year increase in Net Interest Income to IDR 3.10 trillion and a 19.5% in year-on-year decline in provision expense. PBT recorded IDR 860 billion, an increase of 120% on a year-on-year basis. Fee income at IDR 760 billion for the quarter is flat on a year-on-year basis, although up on a quarter-on-quarter from December. Operating income grew 7.3% to IDR 3.8 trillion as of first quarter and a slight improvement in terms of ROA, 1.44% as of March. ROE, a slight improvement to 7.4%.
PT Bank CIMB Niaga Tbk (the Bank) is an Indonesia-based company, which is engaged providing general banking services. The Bank operates through seven segments: Corporate, Business, Retail, Treasury, Sharia, Subsidiaries, and Others. The Corporate segment includes loans, deposits and other transactions, and balances with corporate customers. The Business segment includes products and services for customer segments comprising small to medium scale enterprises. The Retail segment focuses on products and services for individual customers. This segment includes products, such as loans, deposits and other transactions, and balances with retail customers. The Treasury segment undertakes its treasury activities, which include foreign exchange, money market, derivatives, and investing in placements and securities transactions. The Sharia segment includes all transactions relating to Sharia Business Unit. The Subsidiaries segment includes all transactions relating to subsidiaries businesses.
PT BANK CIMB NIAGA TBK 
