PETALING JAYA: CIMB Thai Bank PCL saw its consolidated net profit jump 217-fold to 1.5 billion baht for the financial year ended Dec 31,2019, from 6.9 million baht from the preceding year.
In a statement, the 94.8%-owned unit of CIMB Group Holdings Bhd said the substantial improvement was mainly attributable to a 48.7% decline in provisions resulting from remedial actions to improve the assets quality and a 3.5% growth in operating income, partially offset by a 14.1% increase in operating expenses.
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