August 29, 2018 / 5:46 AM / 3 months ago

Malaysia's CIMB posts higher Q2 profit, cautious on full-year growth

KUALA LUMPUR, Aug 29 (Reuters) - CIMB Group Holdings Bhd , Malaysia’s second-largest lender by assets, on Wednesday reported a rise in second-quarter net profit, boosted by gains from recent deals.

CIMB’s net profit for the quarter ended June was 1.98 billion ringgit ($482.34 million), compared with 1.1 billion ringgit a year earlier, the bank said.

Excluding gains from recent deals, profit totalled 1.05 billion.

One analyst had estimated a profit of 1.3 billion ringgit, according to Thomson Reuters I/B/E/S data.

Revenue rose 12 percent to 4.86 billion ringgit, while net interest income fell 6 percent for the June quarter.

“The Group is relatively cautious on 2018 growth prospects in view of rising global trade tensions and market uncertainties,” Chief Executive Officer Zafrul Aziz said in a statement. ($1 = 4.1050 ringgit) (Reporting by A. Ananthalakshmi; Editing by Himani Sarkar)

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