CIMB POSTS RM100.6 MLN NET LOSS IN Q3
KUALA LUMPUR, Nov 30 -- CIMB Group Holdings Bhd recorded a net loss of RM100.6 million in the third quarter (Q3) ended Sept 30, 2021 (FY2021) against a net profit of RM194.44 million in the same period a year ago.
Revenue slipped to RM4.39 billion from RM4.41 billion previously.
“Q3 FY2021 operating income was 0.5 per cent lower as compared to the corresponding period a year ago mainly due to the weaker non-interest income (NOII) as Q3 FY2020 performance was strong due to the recovery in trading and foreign exchange activity and wealth management,” it said in a filing with Bursa Malaysia today.
Group chief executive officer Datuk Abdul Rahman Ahmad said the lower NOII was due to the weaker trading environment and restricted economic activity.
“Q3 FY2021 also saw an impairment of CIMB Thai goodwill amounting to RM1.22 billion,” he said.
He said the impairment has no impact on CIMB’s capital and liquidity position and would help optimise its return-on-investment going forward which would benefit shareholders.
“We remain firmly on track to deliver our FY2021 performance targets, which is reflective of our loan growth recovery, stringent cost focus, lower provisions as well as positive traction from initiatives under our Forward23+ strategic plan,” he said.
Meanwhile, he said CIMB’s digital businesses continued to register healthy growth with Touch ‘n Go Digital’s registered users increased to 16.4 million, adding 300,000 users in Q3 FY2021 alone.
-- BERNAMA
BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 IFLIX channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies.
Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial
