CIMB stands to gain from tie-up

Operating income was lower by 1.6% while improved cost controls brought about a 2% decline in operating expenses.

PETALING JAYA: CIMB Group Holdings Bhd’s tie-up with China Galaxy Securities Co Ltd (CGS) in the stockbroking business is expected to benefit the Malaysian banking group in terms of cost savings and opportunities to expand further into China.

However, analysts say, the benefits from the partnership will only be evident for CIMB in the group’s financial year ending Dec 31, 2018.