CIMB posts record Q1 profit of RM1.18b
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Kuala Lumpur
CIMB Group Holdings posted a 45 per cent jump to a record profit in the first quarter as Malaysia's second largest lender by assets made more profitable loans at home, boosted income from non-lending activities and took lower provisions.
Malaysia's economy is strengthening in 2017 after a period of tepid growth caused by a downturn in commodity prices and the shadow of a corruption scandal involving state-owned fund 1Malaysia Development Berhad. That is benefitting CIMB and its bigger rival Malayan Banking Bhd, which will report its results on Thursday.
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