CIMB Thai registers 24.3% jump in 2022 net profit to RM395mil

KUALA LUMPUR: CIMB Thai Bank PCL, a 94.83% indirectly held subsidiary of CIMB Group Holdings Bhd, posted a net profit of THB3.03bil (RM395mil) in the financial year ended Dec 31, 2022, which represented a 24.3% increase from the previous year.

According to CIMB Thai president and CEO Paul Wong Chee Kin in a statement, the improvement was mainly owing to better cost control and a significant 39.4% decrease in expected credit losses due to a lower impairment of assets.