"Thank God, CIMB Niaga Syariah`s profit as per September 2011 climbed more than 80 percent compared to the same period last year," CIMB Niaga`s Retail and Sharia Banking Director Ferdy Sutrisno said in a statement on Thursday.
He said the profit was fueled by the improving performance of sharia businesses including a 95 percent increase in the amount of financing from Rp1.45 trillion to Rp2.82 trillion and a 95 percent rise in the amount of third party fund placement from Rp1.76 trillion to Rp3.44 trillion as per September 2011.
The rising profit and improving business performance of CIMB Niaga Syariah had led to a 71 percent increase in the value of assets from Rp2.46 trillion as per September 2010 to Rp4.21 trillion as per September 2011, he said.
He said the improving performance of sharia financing was followed by the improving quality of productive assets. Meanwhile, net non-performing financing (net NPF) as per September 2011 stood at 0.50 percent, well below the net NPF as per September 2010 reaching 0.70 percent. The figure was below 5 percent set by Bank Indonesia (the central bank).
The head of CIMB Niaga`s sharia banking, U Saefudin Noer, said the ratio of operating expenses to operating revenue as per September 2011 stood at 72.35 percent. The figure is better than the similar ratio as per September 2010 reaching 81.11 percent.
This suggested that business efficiency as per September 2011 was better than that of the same period last year, he said.
"The improving efficiency of business operations contributed to the increase in CIMB Niaga Syariah`s profit," he said.(*)
Editor: Heru Purwanto
Copyright © ANTARA 2011
