CIMB 3Q net profit up 31%

CIMB said it is optimistic of delivering better performance for the financial year 2023.

PETALING JAYA: Amid an industry-wide deposit competition that compressed its margin in the third quarter ended Sept 30, 2023 (3Q23), CIMB Group Holdings Bhd reported its highest quarterly earnings in 2½ years, driven by a strong non-interest income (NOII).

The third largest listed bank, which 3Q23 net profit surged by 31.3% year-on-year (y-o-y), said it is optimistic of delivering better performance for the financial year 2023 (FY23), despite moderation in the “performance of key operating countries”.