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Malaysia's CIMB Q1 profit falls 45.6% on loan provisions

[KUALA LUMPUR] CIMB Group Holdings Bhd, Malaysia's second-largest bank by assets, reported on Wednesday a 45.6 per cent fall in first-quarter net profit, dragged by higher corporate loan provisions in Indonesia.

Net profit for the January-March period fell to 580.12 million ringgit (S$214 million) from 1.07 billion ringgit in the same quarter a year earlier, CIMB said in a stock exchange filing.