Friday 29 Mar 2024
By
main news image

KUALA LUMPUR (Feb 27): CIMB Group Holdings Bhd saw its fourth-quarter net profit slid 80.7% to RM200.32 million from RM1.04 billion a year ago, weighed down by slower revenues and a sharp increase in provisions for corporate banking loans in its 97.94%-owned subsidiary PT Bank CIMB Niaga Tbk as well as in Malaysia.

Revenue for the fourth quarter ended Dec 31, 2014 (4QFY14) fell 3.3% to RM3.67 billion from RM3.8 billion in 4QFY13.
 
CIMB Group Holdings Bhd newly-appointed chief executive officer Tengku Datuk Zafrul Tengku Abdul Aziz said the group delivered its "worst quarterly performance" with respect to return on equity (ROE) and universal banking perspective. 

The group reported an annualised ROE for FY14 of 9.2% and 0.6% for 4QFY14.
 

      Print
      Text Size
      Share