CIMB Thai Bank profits jump 150%

CIMB Thai Bank - 1Q16 net profit of THB 327.3m ($9.3m), up 150.6% YoY, primarily due to a growth in net interest income and a decrease in operating expenses.

Provisions, meanwhile, saw a 12.6% rise on-year, reflecting the bank’s “cautious stance in view of the volatile economic environment.”

CIMB Thai’s president and chief executive officer in the press release said that consolidated operating income rose by 11.8% on-year to 3.31bil (RM366.89mil).