KUALA LUMPUR: CIMB Group expects its operations in Indonesia to overtake that of Malaysia as the largest earnings contributor to the group in the near future.
Group chief executive Datuk Seri Nazir Razak said the bank was very bullish of the growth trajectory of its Indonesian subsidiary, PT Bank CIMB Niaga TBK, which would be faster than CIMB’s business in Malaysia.
“Last year, the Indonesian contribution (to group earnings) was up by 30 per cent while that of Malaysia was up by 10 per cent.
“If the trend continues, it may not be long before the Indonesian subsidiary’s contribution to group earnings surpasses that of Malaysia,” he told reporters after CIMB Group’s annual general meeting here yesterday.