CIMB Thai net profit up 16.4% on better cost control

CIMB Thai Group’s loan loss coverage ratio as at Sept 30, 2021, stood at 105.9% from 93.3% at the end of December 2020.

KUALA LUMPUR: CIMB Thai Bank PLC recorded a net profit of 1.71 billion baht (RM212.65mil) in the nine months ended Sept 30, 2021, a 16.4% year-on-year (y-o-y) increase over the previous corresponding period, due to better cost control.

In a statement yesterday, the bank said there was a 12.3% decline in operating expenses due to better optimisation of resources and cost management.