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CIMB's Q3 profit beats expectations on lower provisions, consumer boost
Published Tue, Nov 28, 2017 · 09:50 PM
Kuala Lumpur
CIMB Group Holdings, Malaysia's second-largest lender, reported a 10.7 per cent rise in quarterly profit against expectations for a profit drop, driven by higher net interest income, lower provisions and a more robust capital market.
Malaysian banks are benefiting from a growing domestic economy and firm consumer spending, while improving optimism among businesses versus a year ago is supporting loan growth.
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