PETALING JAYA: CIMB Thai Bank PCL, a 94.83%-indirectly owned subsidiary of CIMB Group Holdings Bhd
, has reported a 20.9% year-on-year (y-o-y) drop in net profit to 2.26 billion baht, or about RM293.88mil, for financial year 2025 (FY25), due to a decrease in operating income and an increase in expected credit losses.
The bank said in a statement that operating income decreased by 1.33 billion baht to 13.77 billion baht due to lower net interest income, which fell 12.4% y-o-y on lower loan balances and margin contraction.
Net fee and service income decreased 7.4%, or 106.2 million baht, primarily due to lower insurance-brokerage income.
Other operating income marginally declined by 1.1%, or 46.8 million baht, reflecting lower gains on financial instruments, bad debt recoveries and gains on sale of non-performing loans, partly offset by higher investment gains.
Operating expenses eased 17.2% y-o-y, or 1.52 billion baht, due to lower impairment losses on properties for sale and personnel costs, and a decline in specific business tax, resulting in a lower interest income.
