JAKARTA (Yosefadi) – CIMB Group Holdings Berhad posted net profit of RM3.11 billion in 2014, dropped 31.2% from RM4.54 billion in 2013.
Revenue declined 3.4% to RM14.1 billion from previous RM14.67 billion. While net assets increased to RM4.44 billion from earlier RM3.92 billion.
Tengku Dato‟ Zafrul Tengku Abdul Aziz, Group Chief Executive, CIMB Group said that 2014 was a difficult year for the Group, with profitability impacted by slower revenues and a sharp increase in provisions for corporate banking loans in CIMB Niaga as well as in Malaysia. This was partially exacerbated by the weakened Rupiah.
“Indonesia remains challenged by tight liquidity and slower asset growth although economic reforms are expected to gain traction from 2H15”.