CIMB Thai posts net profit of THB1.89bil in first nine months of 2024

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CIMB Thai posts net profit of THB1.89bil in first nine months of 2024
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KUALA TERENGGANU: A businesswoman has pleaded not guilty in the High Court here on Monday (Oct 21) to murdering her business partner in November last year.

Holdings Bhd, recorded a net profit of THB1.89bil in the nine months period ended Sept 30, 2024, an increase of 8.9% year-on-year from the same period a year ago.

Compared to the year-ago period, the bank's operating income grew 4.5% to THB10.79bil, attributed to the 6.8% increase in net fee and service income. This was largely owing to higher fee income from goods and services payment and fund transfer and collection. CIMB Thai said this was partially offset by lower gains from the sale of non-performing loans and gains on investment.Meanwhile, operating expenses increased 6.5% due to higher impairment loss on properties for sale, while lower personnel expenses helped to mitigate some of the impact.Net interest margin over earning assets stood at 2.3% in 9M2024, compared to 2.6% in 9M23, as due to higher cost of funds.financial institutions) stood at THB251.5bil, an increase of 2.7% from Dec 31, 2023.

The lower NPL ratio was mainly attributed to the sale of several NPLs in 2024, improvement in risk and asset quality management, as well as loan collection processes.at the end of December 2023.

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