Latest news for CIMB Group Holdings (OTC:CIMDF) Stock

CIMB Group Holdings Bhd is a full-service bank based mainly in Malaysia and other associations of Southeast Asian Nations. The bank's segment includes Consumer Banking, Commercial Banking, Wholesale Banking, and CIMB Digital Assets and Group Funding. The majority of the bank's income is derived from net interest income.

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Earnings

CIMB Q2 Profit Drops

CIMB GROUP HLDGS BHD ORD by CIMB Group Holdings BHD

CIMB Group Holdings Bhd

CIMB Group Holdings

Malaysia's CIMB Group Holdings Bhd. (OTC: <a class="ticker" href="/stock/cimdf#OTC">CIMDF</a>) reported a 9.9% decline in its second-quarter profit.

CIMB's quarterly net income dropped to 949.9 million ringgit ($301 million), or 11.4 sen a share, versus a year-ago profit of 1.05 billion ringgit, or 14 sen a share.

CIMB's revenue dropped 1% to RM3.40 billion versus RM3.44 billion.

Its net interest income rose 10% to 2.18 billion ringgit, while non-interest income fell 19% to 1.08 billion ringgit.

In its first half, the group's revenue dropped 6% to RM6.945 billion versus RM7.389 billion. Its earnings dropped 17.3% to RM2.016 billion in the six months, compared to RM2.440 billion in the year-ago period, which included a RM365 million net gain from the sale of CIMB Aviva. Excluding the exceptional gains, its Business As Usual H1 net profit slipped 2.8% y/y.

CIMB's operating income dropped 1.1% y/y to RM3.407 billion.

"It was a difficult first half, due mainly to the tough conditions in Indonesia and the sharply weaker Rupiah, which combined to decrease CIMB Niaga's PBT contributions by 19.8%. Low financial market volumes and volatility across the region led to weaker IB and Treasury businesses. Nevertheless, excluding Indonesia and last year's exceptional gain, our PBT was up 5.9% Y-o-Y due to the strong performances of our Malaysian consumer bank, CIMB Bank Singapore and CIMB Thai," said Dato ‟ Sri Nazir Razak, Group Chief Executive, CIMB Group.

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Tuesday, October 01, 2019

Friday, August 29, 2014