CIMB Q3 profit hits RM1bil

PETALING JAYA: CIMB Group Holdings Bhd has posted a net profit of RM1.01bil for the third quarter of the financial year ending Dec 31, 2019, driven by the group’s strong operating income, steady loan growth and reduced provisions.

This brought its-nine month net profit to RM3.71bil, which represents a 4.9% year-on-year (y-o-y) growth, excluding a RM928mil one-off gain from the partial sale of CIMB-Principal Asset Management and CIMB-Principal Islamic Asset Management during the same period last year.