CIMB Thai sees Bt1.38 billion first-half net profit
CIMB Thai Group posted a consolidated net profit of Bt1.38 billion for the six months ending on June 30, an increase of 115.6 per cent year-on-year, according to a company press release today (July 21).
The improvement was mainly attributed to a 10.5 per cent growth in operating income and a 6.6 per cent drop in expected credit losses, partially offset by a 5.8 per cent increase in operating expenses.
CIMB’s net interest margin over earning assets stood at 3.3 per cent in the first six months, compared to 3.5 per cent in the same period last year, resulting from lower interest income on investments.
Gross non-performing loans (NPLs) were Bt13.9 billion, translating into an impaired loan ratio of 5.8 per cent compared to 4.7 per cent as of December 31, 2019, due to a change in NPL classification criteria (Stage 3).
