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KUALA LUMPUR: Public Bank posted net profit of RM1.39bil in the third quarter ended Sept 30,2020, a slight increase of 2.2% from RM1.36bil a year ago, underpinned by higher income from investments, stock broking, fund management and Islamic banking.
KUALA LUMPUR: CIMB Group Holdings Bhd recorded a pre-tax profit of RM454mil in the third quarter ended Sept 30,2020, up 132% from the immediate preceding quarter on higher operating income across nearly all its segments.CIMB's 3Q pre-tax profit improves sequentially on higher operating income
This can help country emerge from recession
JAKARTA, Nov 23 (The Jakarta Post/ANN): Indonesia’s economy is expected to return to growth in 2021 after facing a recession this year, economists say, but unemployment and poverty may rise further as economic activity will remain sluggish.
KUALA LUMPUR: Malaysia’s economy contracted at a smaller pace of 2.7% in the third quarter ended Sept 30,2020 compared with 17.1% plunge in the second quarter, underpinned by a recovery in the manufacturing sector.
SINGAPORE: Singapore banks are seeing a sharp upgrade to next year’s earnings estimates as wealth management fees surge and losses on coronavirus-related loans ease, pointing to a recovery in Asia’s banking industry.
JAKARTA, Nov 8 (Reuters): Indonesia's government has announced that it would offer sovereign guarantees for loans on businesses and projects that can boost economic recovery, as it steps up efforts to bolster an economy battered by the Covid-19 (coronavirus) pandemic.
SINGAPORE: Singapore's top lenders, DBS Group and Oversea-Chinese Banking Corp, posted lower than expected declines in third-quarter profit on Thursday on the back of strength in their wealth management businesses.