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CIMB Bank posts YOY rise in Q3 net profit

CIMB Bank Bhd. reported a year-over-year increase in net profit for the quarter ended Sept. 30.

The bank said net profit attributable to owners of the parent grew to 977.8 million Malaysian ringgit from 786.0 million ringgit in the prior-year period, according to a financial report recently obtained by S&P Global Market Intelligence.

Basic EPS for the quarter inched up to 18.22 sen from 15.27 sen.

Net interest income rose to 1.72 billion ringgit from 1.57 billion ringgit, while net noninterest income increased to 780.5 million ringgit from 643.7 million ringgit. Income from Islamic banking operations jumped to 448.9 million ringgit from 362.6 million ringgit.

Allowances for impairment losses on loans, advances and financing increased to 315.7 million ringgit from 286.1 million ringgit in the year-ago period.

As of the end of September, the group's common equity Tier 1 ratio stood at 11.672%. Its Tier 1 ratio came in at 12.845%, while its total capital ratio clocked in at 16.384%.

For the nine months ended Sept. 30, the bank's net profit attributable to owners of the parent climbed year over year to 3.03 billion ringgit from 2.47 billion ringgit. Basic EPS inched up to 57.04 sen from 48.00 sen.

Earlier, CIMB Group Holdings Bhd., the lender's parent company, reported a year-over-year increase in its third-quarter profit.

As of Dec. 1, US$1 was equivalent to 4.09 Malaysian ringgit.