CIMB posts record Q2 earnings

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One of the country’s major bank networks, CIMB Group Holdings Bhd recently announced their improvement of earnings by 9.1% to a new record of RM970.01million for the second quarter (Q2) that ended recently in June 30. Comparatively, the banking group recorded earnings of RM889.46million for the same quarter in 2010 and this was widely contributed by the local consumer banking services segment as well as the CIMB Niaga’s high growth rate.

Its revenue however dropped slightly from RM2.99billion to RM2.96 billion for the same period and earnings per share, which was at RM12.59 last year rose RM13.05 sen this time around. An interim dividend of 12 sen per share was declared which will involve a net payment of RM892million. This means that the earnings of the group rose to 5.8% as compared to Q1 and which means that the first six months saw CIMB’s net profit increase by 9.3% which is RM1.89 billion as compared to the first 6 months of 2010 where they recorded net profit of RM1.73billion.