us growth

 
 

RBA says stronger US growth, lower Aussie could boost economy

SYDNEY, Aug 21 — Australia’s central bank sketched out a scenario where faster global growth and US stimulus withdrawal push the Aussie dollar lower and underpin a stronger outlook Down Under. Main takeaways In minutes of their Aug 7 meeting…


CIMB Niaga first-half earnings 28% higher

PETALING JAYA: PT Bank CIMB Niaga Tbk (CIMB Niaga) posted a net profit of 1.8 trillion rupiah (RM504.3 million) in the first half of 2018 (1H18), representing a 28.1% year-on-year (y-o-y) growth, which translates into an earnings per share of 70.54 rupiah.

The improved net profit came on the back of a 32.6% increase in non-interest income to 1.9 trillion rupiah and a 27.1% y-o-y decline in provision expenses, it told the stock exchange today.

Its loan loss coverage (LLC) remained comfortable at 106.83%, it added.

CIMB Niaga president Tigor M. Siahaan said its 1H18 operating income managed to grow by 1.5% y-o-y thanks to the y-o-y improvement in non-interest income.

Tigor added its operating costs continued to be well managed, rising only 3.4% y-o-y, while the gradual improvement in the economic environment positively impacted its provisions which declined 27.1% y-o-y.

“We will continue the cautious growth trajectory with asset quality as a priority. With total assets of 260.1 trillion rupiah as at June 30, 2018, representing a 7.6% y-o-y growth, CIMB Niaga maintained its position as Indonesia’s second largest national private-listed bank by assets.”

As at June 30, CIMB Niaga’s total gross loans increased 3% y-o-y to 185.7 trillion rupiah.

“Our strategy to focus on the mortgage and small medium enterprise (SME) segments is gaining traction, with each segment growing by 8.9% and 6.2% y-o-y respectively, while our corporate loans grew by 8.8% y-o-y,” Tigor added.

Its total third party deposits stood at 190.3 trillion rupiah as at June 30 2018, underpinned by a 12.8% y-o-y growth in CASA (current account, savings account).

“Going forward, we will continue to optimise CASA with our consumer and SME digitalisation, and strengthen our Sharia business proposition and Sharia-compliant product offerings,” Tigor said.


CIMB Niaga first-half earnings 28% higher year on year

PETALING JAYA: PT Bank CIMB Niaga Tbk (CIMB Niaga) posted a net profit of 1.8 trillion rupiah (RM504.3 million) in the first half of 2018 (1H18), representing a 28.1% year-on-year (y-o-y) growth, which translates into an earnings per share of 70.54 rupiah.

The improved net profit came on the back of a 32.6% increase in non-interest income to 1.9 trillion rupiah and a 27.1% y-o-y decline in provision expenses, it told the stock exchange today.

Its loan loss coverage (LLC) remained comfortable at 106.83%, it added.

CIMB Niaga president Tigor M. Siahaan said its 1H18 operating income managed to grow by 1.5% y-o-y thanks to the y-o-y improvement in non-interest income.

Tigor added its operating costs continued to be well managed, rising only 3.4% y-o-y, while the gradual improvement in the economic environment positively impacted its provisions which declined 27.1% y-o-y.

“We will continue the cautious growth trajectory with asset quality as a priority. With total assets of 260.1 trillion rupiah as at June 30, 2018, representing a 7.6% y-o-y growth, CIMB Niaga maintained its position as Indonesia’s second largest national private-listed bank by assets.”

As at June 30, CIMB Niaga’s total gross loans increased 3% y-o-y to 185.7 trillion rupiah.

“Our strategy to focus on the mortgage and small medium enterprise (SME) segments is gaining traction, with each segment growing by 8.9% and 6.2% y-o-y respectively, while our corporate loans grew by 8.8% y-o-y,” Tigor added.

Its total third party deposits stood at 190.3 trillion rupiah as at June 30 2018, underpinned by a 12.8% y-o-y growth in CASA (current account, savings account).

“Going forward, we will continue to optimise CASA with our consumer and SME digitalisation, and strengthen our Sharia business proposition and Sharia-compliant product offerings,” Tigor said.


Powell to keep hiking as US growth trumps Turkish turmoil

WASHINGTON, Aug 14 — Don’t count on a Powell Pause. That’s the message seasoned watchers of the Federal Reserve have for any investors hoping that turmoil in Turkey and the wider emerging-market selloff would stay the hand of Chairman Jerome…


FX traders are on alert as US dollar intervention risk climbs

NEW YORK, Aug 14 — Foreign-exchange traders are always scanning the globe for signs of government intervention in the market — but it’s rare for them to suspect the world’s reserve currency as a candidate. That’s changed after US President…


Powell to keep hiking as US growth overshadows Turkey turmoil

WASHINGTON, Aug 14 — Don’t count on a Powell Pause. That’s the message seasoned watchers of the Federal Reserve have for any investors hoping that turmoil in Turkey and the wider emerging-market selloff would stay the hand of Chairman Jerome…


Hedge fund giant splits with Morgan Stanley on dollar peak call

NEW YORK, Aug 12 ― Don’t bet on the US dollar rally ending any time soon, says the world’s largest publicly traded hedge fund. While investment titans such as Morgan Stanley and State Street Corp wager the greenback’s rally this year is just…


Shares struggle to look past trade fears, sentiment still fragile

LONDON, Aug 6 — Stock markets struggled today as fears of a further escalation in the US-China trade conflict offset prospects for more bumper corporate earnings, and broader market sentiment remained fragile. Chinese state media launched an…


US Fed meets as key inflation measure holds steady

WASHINGTON, Aug 1 — With one more US inflation report to digest yesterday, the Federal Reserve is expected to hold off on the next interest rate increase for another six weeks. The Fed opened a two-day policy meeting yesterday, and amid booming US…


Mnuchin outlook for sustained 3pc growth at odds with forecasters

WASHINGTON, July 30 — The second-quarter surge shows the US economy is “well on the path” for four or five years of sustained annual growth of 3 per cent, said Treasury Secretary Steven Mnuchin — a rosy outlook at odds with that of many…