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Malaysian lender CIMB Q2 profit rises 26 pct, beats estimates
August 28, 2017 / 5:23 AM / 3 months ago

Malaysian lender CIMB Q2 profit rises 26 pct, beats estimates

KUALA LUMPUR, Aug 28 (Reuters) - CIMB Group Holdings Bhd , Malaysia’s second-largest bank by assets, reported a 26 percent rise in quarterly net profit on Monday, and said it was “cautiously optimistic” for the second half of the year.

Profit for the three months ended June came in at 1.1 billion ringgit ($236.81 million), compared with 872.8 million ringgit a year ago. The result was ahead of the 685.70 million ringgit average as estimated by six analysts in a Thomson Reuters poll.

“We feel cautiously optimistic for the second half of 2017, given the strong GDP growth for Malaysia and Indonesia, and the expected gradual improvement in Singapore and Thailand, all of which signal increased regional activity and improved capital markets,” group chief executive Zafrul Aziz said in a statement released on the bourse.

Revenue rose to 4.3 billion ringgit from 3.9 billion ringgit a year ago, the lender said in a bourse statement. (Reporting by Liz Lee; Editing by Sherry Jacob-Phillips)

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