CIMB records RM714mil Q1 pre-tax profit

TheStar Sat, May 23, 2020 11:40am - 3 years View Original


“We foresee continued challenges for the rest of the year, ” CIMB said.

PETALING JAYA: CIMB GROUP HOLDINGS BHD has reported a profit before tax for the first quarter ended March 31 of RM714mil, down 55.5% from the pre-tax profit of RM1.6bil it made for the same period a year earlier, hit by a spike in provisions and lower non-interest income.

Its net profit was also down by over 57% to RM507.9mil from RM1.19bil last year.

Revenue for the quarter dropped marginally by 0.6% to RM4.14bil against RM4.17bil a year earlier.

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