CIMB records RM714mil Q1 pre-tax profit

“We foresee continued challenges for the rest of the year, ” CIMB said.

PETALING JAYA: CIMB Group Holdings Bhd has reported a profit before tax for the first quarter ended March 31 of RM714mil, down 55.5% from the pre-tax profit of RM1.6bil it made for the same period a year earlier, hit by a spike in provisions and lower non-interest income.

Its net profit was also down by over 57% to RM507.9mil from RM1.19bil last year.