For the financial year under review, CIMB’s net profit expanded by 7.8 per cent, helping the group push its net profit to a level unseen before in its history. CIMB Group Holdings Bhd has posted a record net profit of RM4.35 billion for the year ended December 31 2012, meeting its 16 per cent return-on-equity (ROE) target.
The banking group expects to maintain a R0E of 16 per cent in the current financial year as it seeks to expand its reach at home and abroad. A ROE of 16 per cent is considered to be at the top end for a major bank as CIMB’s fiercest rival at home, Malayan Banking Bhd, the country’s top bank, also has a ROE of about 16 per cent………………………………………..Full Article: Source