CIMB Group Holdings Bhd's second-quarter net profit rose by 9.1 per cent to a record but the banking group, the country's second largest, is growing increasingly cautious amid a weakening global economy.
"We have re-strategised for volatile financial markets and slower economic growth in the region," group chief executive Datuk Seri Nazir Razak said at a results briefing here late yesterday.
Net profit came in at RM970 million compared with RM889.5 million in the same quarter a year ago, underpinned by a strong uplift from the Malaysian consumer banking operations and continued high growth at its Indonesian bank, CIMB Niaga.
Revenue came in flat at RM2.96 billion.
Read more: Record profit for CIMB http://www.btimes.com.my/Current_News/BTIMES/articles/cimbca/Article/index_html#ixzz1VuUad3mw
"We have re-strategised for volatile financial markets and slower economic growth in the region," group chief executive Datuk Seri Nazir Razak said at a results briefing here late yesterday.
Net profit came in at RM970 million compared with RM889.5 million in the same quarter a year ago, underpinned by a strong uplift from the Malaysian consumer banking operations and continued high growth at its Indonesian bank, CIMB Niaga.
Revenue came in flat at RM2.96 billion.
Read more: Record profit for CIMB http://www.btimes.com.my/Current_News/BTIMES/articles/cimbca/Article/index_html#ixzz1VuUad3mw
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