PETALING JAYA: CIMB Thai Bank PCL, a unit of the CIMB Group
, posted a 70% drop in net profit to 310.3 million baht (RM34.9mil) for the first quarter ended March 31 from a year ago, as the bank more than doubled its loan loss provisions.
“CIMB Thai continues to exercise high credit risk underwriting standards and risk management policies,” its president and chief executive officer Subhak Siwaraksa said in a statement yesterday.
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