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Malaysia lender CIMB posts 45 % jump in Q1 profit to a record

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CIMB Group Holdings, Malaysia's second largest lender by assets, posted a 45 per cent jump in first-quarter profit to a record, driven by loans growth, improved net interest margin and higher non-interest income.

[KUALA LUMPUR] CIMB Group Holdings, Malaysia's second largest lender by assets, posted a 45 per cent jump in first-quarter profit to a record, driven by loans growth, improved net interest margin and higher non-interest income.

The bank reported a net profit of RM1.18 billion (S$381.6 million) for January-March compared to RM813.8 million a year ago. That beat an average RM803.5 million estimate of two analysts polled by Reuters.

"The group is cautiously optimistic for the rest of 2017, with more stable economic conditions, increased regional activity, improved capital markets and declining provisions across our key geographies," the bank said in a statement.

REUTERS

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