CIMB Q1 earnings at RM1.19bil

KUALA LUMPUR: CIMB Group Holdings Bhd saw its net profit slip 8.7% to RM1.19bil for the first quarter ended March 31 (1Q19), as compared with RM1.3bil in the same quarter last year in the absence of one-off disposal gain last year.

The bank group reported a pre-tax profit (PBT) of RM1.6bil during the quarter, down 8% year-on-year (YoY) due to lower operating income and a 7.5% increase in operating expenses, partially offset by a 25.2% YoY decline in loan loss provisions.