KUALA LUMPUR — Nov. 29, 2018: The net profit for CIMB Group Holdings in the third quarter ended September 30 rose to RM1.18 compared to RM1.13 billion a year ago.
Revenue however slid to RM4.14 billion from RM4.42 billion, mainly weighed by operating income which fell 6.4 per cent year-on-year due to a decline in non-interest income and net interest income.
In a filing to Bursa Malaysia today, CIMB said the better net profit was largely attributed to all segments, except wholesale banking given the weaker capital market.
The group nevertheless remains on track to meet its key Target 18 targets but is cautious amidst weaker regional economies and global trade tensions.
Against this backdrop, the group will continue to control asset quality and cost across all businesses and geographies, while finalising its next mid-term plan to propel the group onto a stronger growth trajectory. — Bernama