CIMB 3Q net profit up 11% at RM1.13b

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KUALA LUMPUR (Nov 28): CIMB Group Holdings Bhd reported an 11% increase in third quarter net profit at RM1.13 billion from RM1.02 billion a year earlier on higher interest and non-interest income. CIMB said higher Islamic banking income also contributed to profit growth.

CIMB told Bursa Malaysia today that group revenue rose to RM4.42 billion in the third quarter ended Sept 30, 2017 (3QFY17) from RM4.12 billion.

"We remain on track to meet our key financial targets for 2017," CIMB group chief executive Tengku Datuk Seri Zafrul Aziz said in a statement.

"Whilst the trajectory of regional economies is generally positive and capital market activity is picking up gradually, we maintain our cautiously optimistic outlook and are mindful of keeping tight controls over asset quality and cost across all businesses," Zafrul said.

For 9MFY17, CIMB said net profit increased to RM3.41 billion from RM2.71 billion a year earlier. Revenue was higher at RM13.11 billion versus RM11.75 billion.