CIMB earning up 65%
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CIMB Thai Group posted a 64.6 per cent increase in its first-half earnings, to Bt213.3 million, thanks to a hike in fee and interest income.
According to Subhak Siwaraksa, president and chief executive officer, CIMB Thai Bank, fee and interest income rose by 43.5 per cent and 23.1 per cent, respectively, from the same period last year. In the first half, loan-loss provisions were also boosted by 96.8 per cent to Bt3.5 billion, which is Bt1.4 billion above regulatory requirements.
"The increase in provisions reflects our cautious stance in the event of possible changes in the economic environment," he said.
In the period, net interest margin (NIM) stood at 3.22 per cent, against 3.27 per cent in the same period last year, resulting from intense competition in the deposit market.
