CIMB Thai net profit jumps 64.6% to THB2.81bil for 9M22

CIMB Thai Bank PCL president and CEO Paul Wong Chee Kin

KUALA LUMPUR: CIMB Thai Bank PCL posted a net profit of THB 2.81bil, an increase of 64.6% year-on-year (YoY) compared to 9M2021.

“The improvement was mainly attributed to a 3.9% decline in operating expenses from improved cost control and a 45.5% decrease in expected credit losses due to lower impairments of assets, despite a 0.4% drop in operating income,” president and chief executive officer Paul Wong Chee Kin said in a statement.