CIMB's 2012 profit surges to RM4.35b

CIMB Group Holdings Bhd posted a record net profit of RM4.35 billion in its financial year ended December 31 2012, representing a growth of 7.8 per cent from a year ago.

Revenue rose 11.3 per cent to RM13.49 billion.

CIMB Group chief executive officer Datuk Seri Nazir Razak said the group can sustain a new return on equity of 16 per cent this year by driving revenues from new businesses and enlarged investment banking operations.