CIMB sees better times ahead after clearing provision burden

CIMB Group Chairman Datuk Seri Nazir Abdul Razak speaking to reporters after the banks AGM at Bangsar South.

CIMB Group Holdings Bhd, which had just undertaken one of its biggest provisions in recent history, is upbeat on its future.

The third biggest bank by asset size in the country notes in its latest update to the press that the dark clouds of provisions that weighed on its bottomline in the financial year 2016 (FY16 ended Dec 31) have now passed and is looking at clearer skies ahead.