KUALA LUMPUR: CIMB Thai Bank PCL, a 94.83%-owned unit of CIMB Group Holdings Bhd
recorded a consolidated net profit of 626.1 million baht in the first quarter of 2024 (1Q24), a year-on-year (YoY) decline of 24.6% or 204 million baht.
In a statement, the bank said its profit before tax (PBT) fell by 247.9 million baht or 23.9% YoY to 790.2 million baht. This was mainly from an 8.4% decline in operating income and an 11.8% increase in operating expenses, partially offset by a 36.9% decline in expected credit loss (ECL).
