KUALA LUMPUR, May 22 (Bernama) -- CIMB Group Holdings Berhad (“CIMB Group” or the “Group”) today reported a Profit Before Tax (“PBT”) of RM714 million for the first quarter of 2020 (“1Q20”). The weaker PBT was attributed to lower non-interest income (“NOII”) and higher provisions across selected markets. Net interest income (NII) grew by 4.8%, underpinned by steady 3.8% loan growth and operating expenses remained under control. The Group’s 1Q20 net profit stood at RM508 million, translating to a net Earnings Per Share (“EPS”) of 5.1 sen and an annualised Return On average Equity (“ROE”) of 3.7%.
CIMB Group said, “We are pleased with the continued robust performance of our underlying business. Loan growth stayed healthy across all markets and our CASA ratio improved significantly to 36.5%. Profitability was however, impacted by volatile trading conditions, lower FX income and isolated credits which gave rise to increased provisioning in selected markets.
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