CEO Wong said the bank continued to exercise high credit risk underwriting standards and risk management policies.
PETALING JAYA: CIMB Thai Bank PCL, a 94.83%-owned unit of CIMB Group
Holdings Bhd, has announced a 35% year-on-year (y-o-y) decline in its net profit to 1.37 billion baht (RM182mil) due to higher operating expenses for the first half of its financial year ended June 30, 2023 (1H23).
In a filing with Bursa Malaysia, the bank said the decline was also caused by a 94.2% increase in expected credit loss (ECL).
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