KUALA LUMPUR: Malaysia’s second-largest bank by assets, CIMB Group Holdings Bhd, today reported a 24% jump in fourth-quarter net profit, helped by a rise in non-interest income and cost-cutting.
Net profit for October-December was RM1.06 billion, compared to RM854.4 million in the same period a year earlier. The result exceeded the RM824.4 million average of five analysts’ estimates in a Thomson Reuters survey.
Net non-interest income rose 8% to RM1.3 billion ringgit, while net interest income fell 4.5% to RM2.53 billion.