May 30, 2018 / 5:16 AM / 5 months ago

CORRECTED-Malaysia's CIMB posts 11 percent rise in Q1 profit

(Corrects to “million” from “billion” in last paragraph)

KUALA LUMPUR, May 30 (Reuters) - CIMB Group Holdings Bhd , Malaysia’s No.2 lender by assets, reported an almost 11 percent rise in quarterly profit, boosted by lower cost and provisions as well as a one-off gain from a stake disposal in its brokerage business.

The bank’s net profit was 1.31 billion ringgit ($325.57 million) for the first quarter ended March, versus 1.18 billion ringgit a year ago.

That was ahead of an average estimate of 981 million ringgit from four analysts surveyed by Thomson Reuters. ($1 = 3.9930 ringgit) (Reporting by Liz Lee; Editing by Himani Sarkar)

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