February 28, 2018 / 4:59 AM / 3 months ago

Malaysian lender CIMB posts 24 pct jump in Q4 net profit

KUALA LUMPUR, Feb 28 (Reuters) - Malaysia’s second-largest bank by assets, CIMB Group Holdings Bhd, reported on Wednesday a 24 percent jump in fourth-quarter net profit, helped by a rise in non-interest income and cost-cutting.

Net profit for October-December was 1.06 billion ringgit ($270.20 million), compared to 854.4 million ringgit in the same period a year earlier. The result exceeded the 824.4 million ringgit average of five analysts’ estimates in a Thomson Reuters survey.

Net non-interest income rose 8 percent to 1.3 billion ringgit, while net interest income fell 4.5 percent to 2.53 billion ringgit. ($1 = 3.9230 ringgit)

Reporting by Liz Lee Editing by Muralikumar Anantharaman

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