KUALA LUMPUR (April 26): CIMB Group Holdings Bhd remains cautiously optimistic for its financial year ending Dec 31, 2018 (FY18).

"We are cautiously optimistic about 2018 and that's quite a positive statement. We are looking to exceed our T18 (short for its Target 2018 initiative) targets," its chairman Datuk Seri Nazir Razak told reporters after the group's annual general meeting here today.

In Malaysia, over the past four months, the banking group said it has seen its loan growth performing on track, towards achieving its 6% target by year-end, group chief executive officer Tengku Datuk Seri Zafrul Aziz said.

Zafrul said this will continue to be supported by all business segments, particularly driven by growth in its consumer, wholesale and corporate banking segments.

Meanwhile, the group expects loan growth in its Thailand and Indonesia markets to hover around 5%, he added.

The group is also aiming to bring down its cost-to-income ratio to less than the targeted 50% this year, from 51.8% as at end-2017.

While costs are poised to grow every year, Zafrul said CIMB is moving in the right direction.

"Costs grew 2% to 3% as shown in the past three years, and it still goes up every year because we will need to make investments. We will need to ensure income goes up faster," Zafrul said.

At the midday break, shares in CIMB are up three sen or 0.42% to RM7.20, valuing it at a market capitalisation of RM65.96 billion.