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Malaysia's CIMB posts higher Q2 profit, cautious on full-year growth

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CIMB Group Holdings, Malaysia's second-largest lender by assets, on Wednesday reported a rise in second-quarter net profit, boosted by gains from recent deals.

[KUALA LUMPUR] CIMB Group Holdings, Malaysia's second-largest lender by assets, on Wednesday reported a rise in second-quarter net profit, boosted by gains from recent deals.

CIMB's net profit for the quarter ended June was RM1.98 billion (S$658.67 million), compared with RM1.1 billion a year earlier, the bank said.

Excluding gains from recent deals, profit totalled RM1.05 billion.

One analyst had estimated a profit of RM1.3 billion, according to Thomson Reuters I/B/E/S data.

Revenue rose 12 per cent to RM4.86 billion, while net interest income fell 6 per cent for the June quarter.

"The group is relatively cautious on 2018 growth prospects in view of rising global trade tensions and market uncertainties," CIMB chief executive officer Zafrul Aziz said in a statement.

REUTERS

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