Malaysia's CIMB posts 1.05 billion ringgit net profit in Q2
KUALA LUMPUR Aug 26 (Reuters) - CIMB Group Holdings Bhd , Southeast Asia's fifth-largest lender by assets, said it posted a net profit of 1.05 billion Malaysian ringgit ($318.13 million) in the quarter ended in June.
The result was higher than the average forecast of 661.76 million ringgit in a Thomson Reuters I/B/E/S poll of two analysts.
CIMB has been expanding in Asia and in 2012 acquired some of the Asian operations of Royal Bank of Scotland Plc, but the bank now faces headwinds in Indonesia given the country's cautious economic conditions.
Indonesia is the bank's second biggest earnings contributor after Malaysia. It made up 32 percent of the group's earnings last year, according to CIMB's 2012 annual report.
Larger rival Malayan Banking Bhd (Maybank) reported last week a 9 percent rise in quarterly net profit, helped by higher interest income and the sale of financial assets. Ÿ
($1 = 3.3005 Malaysian ringgits) (Reporting By Yantoultra Ngui; Editing By Siva Sithraputhran)
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