CIMB Profit Soars, Declares 12 Sen Dividend

CIMB Group Holdings Bhd today reported that its pre-tax profit rose by 8.5 per cent to RM2.51 billion for the first half year financial period ended June 30, 2011, as credit losses remained subdued. Revenues however decreased by 1.5 per cent to RM5.71 billion due to lower non interest income as last year's revenues were boosted by sales of ex-Lippo Bank bonds. Excluding this, revenue would have increased 3.5 per cent for the period. It reported a record half year net profit of RM1.887 billion for the period, representing a 9.3 per cent growth. Announcing the results here today, the group declared an interim net dividend of 12 sen per share which will amount to a net payment of RM892 million, translating into a dividend payout ratio of 47 per cent for the half year net profit.