Bank CIMB Niaga posted a consolidated net profit of Rp727.53 billion in the first quarter of 2011, up 39 percent from the same period last year.

The increase was the result of rising interest income after credits grew significantly by 31 percent to Rp109.98 trillion, the bank`s corporate communication chief Dina Sutadi said here on Tuesday.

In line with the bank`s vision as a universal bank, the credits grew evenly in all corporate, commercial and retail segments, she said.

She said CIMB Niaga would continue to focus on sharia compliant credits, micro financing and rahn (pawn). The last two are new businesses developed by CIMB Niaga.

As per March 31, 2011, CIMB Niaga`s total assets reached Rp149.05 trillion, a 30 percent increase compared to the same period last year when the figure was Rp114.50 trillion. Meanwhile, its loan-to-deposit ratio reached 90.31 percent.

The bank`s return on asset (ROA) rose by seven basis points to 2.65 percent from the same period last year. Its return on equity also rose to 19.25 percent from 18.25 percent.

The bank channeled about 21 percent of its total loans to customers outside Java to reflect its comprehensive strategy in distributing credits in the country. (*)