CIMB Thai posts net profit of 2.85 billion baht for FY24

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PETALING JAYA: CIMB Thai, which is 94.83% owned by CIMB Group Holdings Bhd, posted net profit of 2.85 billion baht for the financial year ended Dec 31, 2024 (FY24), a 77.7% year-on-year (y-o-y) increase.

The bank said net fee and service income increased by 237.4 million baht or 19.9%, largely attributed to higher fee income from goods and services payments,fund transfers and collections.

In a statement, the group said this was mainly from a 9.7% growth in operating income and a 13.7% decrease in expected credit losses, offset by an increase of 2.6% in operating expenses.

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Category: EconomyBusiness

Markets: MalaysiaThailand

Topics: /Business/Business News Corporate News NIM Loan CIMB Group CIMB Thai NPL

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-21 @ 17:41:00 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 514 words

Reading Time: 3 minutes read

Sentences: 18 lines

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Copyright Owner: © The Star

News ID: 25314836

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