HONG KONG Feb 28 CIMB Group Holdings Bhd
, the second-largest lender by assets in Malaysia, on
Tuesday reported a 3.5 percent increase in fourth-quarter net
profit, helped by a surge in loan demand in its home market as
well as in Indonesia and Thailand.
The bank's net profit for the quarter ended in December 2016
was 854.4 million ringgit ($192.21 million), up from 825.7
million ringgit a year earlier, the lender said in a filing to
the stock exchange.
Malaysian lenders including Malayan Banking Bhd (Maybank)
, the country's largest lender by assets, and CIMB have
benefited from cost cutting and stronger demand for corporate
loans in the domestic market.
Maybank last week reported a 43 percent rise in
fourth-quarter profit on loan growth and a rise in investment
income, and forecast stronger loan growth in its core markets of
Malaysia and Indonesia.
($1 = 4.4430 ringgit)
(Reporting by Sumeet Chatterjee; Editing by Stephen Coates)