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Lender remains cautious due to downside risks
KUALA LUMPUR: CIMB Group Holdings Bhd made RM2.46bil in net profit in the first quarter on improved operating income, but the bank remained cautious about its outlook amid the resurgence of new Covid-19 cases and fresh lockdown imposed by the government to the spread of the virus.
Analysts are mixed on CIMB Group Holdings Bhd’s outlook despite its 92.5 per cent-owned Indonesian banking unit, PT Bank CIMB Niaga Tbk (Niaga) reported a robust financial results in the first quarter ended March 31,2021 (Q1 FY21).
Group changing the way it rewards top people for greater accountability
CIMB to propel forward with strict cost controls, Forward23+
KUALA LUMPUR: CIMB Group Holdings Bhd’s underlying business proved to be resilient in the financial year ended Dec 31, 2020 (FY20) despite the adverse effects of the COVID-19 pandemic.
THE prolonged Covid-19 pandemic had created a wide range of challenges for banks in terms of financial difficulties faced by many, and the management of overall health and safety.
Group has need to reshape portfolios across the region
KUALA LUMPUR: CIMB Group Holdings Bhd reported a steep drop in its annual profits on higher loan loss provisions due to the pandemic, but the bank expects its financial performance to improve in 2021 in line with the economy.