CEO: CIMB financial targets remain intact

KUALA LUMPUR: CIMB Group Holdings Bhd may take an additional and final provision in the first quarter of 2022, for the processing error which impacted 11,800 accounts out of close to eight million of the banking group’s customers.

However, the additional and final provision may be lower than the expected credit loss of RM281mil provided in the fourth quarter of 2021, depending on the group’s recovery engagement and outcome with customers.