CIMB cuts loan growth target

Speaking during a virtual briefing yesterday, Abdul Rahman (pic) said the banking group remained “concerned and cautious” about the potential downside risks in the second half (H2) of FY21.

PETALING JAYA: CIMB Group Holdings Bhd has slashed its loan growth target for 2021, following the contraction in total loans in the first six months of the year and the anticipation of a more challenging outlook in the second half.

Total loans are expected to grow by only 2% to 3% in financial year 2021 (FY21) as compared to the earlier target of 4% to 5%, according to CIMB Group chief executive officer Datuk Abdul Rahman Ahmad.