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Malaysia lender CIMB posts 45 pct jump in Q1 profit to a record
May 24, 2017 / 4:57 AM / 7 months ago

Malaysia lender CIMB posts 45 pct jump in Q1 profit to a record

KUALA LUMPUR, May 24 (Reuters) - CIMB Group Holdings , Malaysia’s second largest lender by assets, posted a 45 percent jump in first-quarter profit to a record, driven by loans growth, improved net interest margin and higher non-interest income.

The bank reported a net profit of 1.18 billion ringgit ($274.39 million) for January-March compared to 813.8 million ringgit a year ago. That beat an average 803.5 million ringgit estimate of two analysts polled by Reuters.

“The group is cautiously optimistic for the rest of 2017, with more stable economic conditions, increased regional activity, improved capital markets and declining provisions across our key geographies,” the bank said in a statement. ($1 = 4.3005 ringgit) (Reporting by Liz Lee; Editing by Muralikumar Anantharaman)

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