CIMB posts higher profit in Q1, sees downside risks amid Covid-19 resurgence

KUALA LUMPUR: CIMB Group Holdings Bhd made RM2.46bil in net profit in the first quarter on improved operating income, but the bank remained cautious about its outlook amid the resurgence of new Covid-19 cases and fresh lockdown imposed by the government to the spread of the virus.

Core operating income grew 15.9% to RM4.8bil in the three-month ended March 31, the CIMB said in a statement today.