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CIMB Group Holdings Q4'17 net profit rises YOY

CIMB Group Holdings Bhd. reported a year-over-year increase in net profit for the quarter ended Dec. 31, 2017, as allowances for impairment losses fell.

The group said its fourth-quarter net profit attributable to owners rose to 1.06 billion Malaysian ringgit from 854.4 million ringgit in the prior-year period. Basic EPS grew to 11.57 sen from 9.67 sen.

Net interest income slipped to 2.53 billion ringgit from 2.64 billion ringgit. The group's net interest margin for the quarter remained unchanged at 2.63%. Meanwhile, net noninterest income increased to 1.34 billion ringgit from 1.24 billion ringgit in the prior-year period.

The company said allowances for impairment losses on loans, advances and financing fell to 578.1 million ringgit from 751.6 million ringgit.

For the year ended Dec. 31, 2017, the group's net profit attributable to owners increased year over year to 4.48 billion ringgit, or 49.63 sen per basic share, from 3.56 billion ringgit, or 41.02 sen per basic share.

The group's gross impairment ratio stood at 3.4% as of Dec. 31, 2017, compared to 3.3% in the prior-year period. The group said its total capital adequacy ratio as of Dec. 31, 2017, was 16.5%, while its common equity Tier 1 capital ratio stood at 12.2%.

As of Feb. 27, US$1 was equivalent to 3.92 Malaysian ringgit.