Commerce Asset-Holding Bhd Group (CAHB) has registered a 10.3% increase in its operating profit to RM1.17bil for the nine-month period ended 30 September 2001.
The group’s higher year-on-year operating profit was achieved on the back of higher earnings and a reduction in staff costs and overheads, it said in a statement yesterday.
As a result of higher provisions however, group pre-tax profit was 19.2% lower at RM577.2mil for the period under review (RM714mil previously).
The group’s net non-performing loan (NPL) ratio also rose to 6.8% for the period under review compared to 4.8% as at 31 December 2000.
The group’s commercial bank, Bumiputra-Commerce Bank group (BCB group) registered operating profits of RM918.5mil for the nine months ended Sept 30, a 7.1% increase. This was the result of a 3.9% increase in net interest income, a 2.2% reduction in non-interest income and a 2.1% reduction in staff costs and overheads.
