November 28, 2017 / 5:13 AM / a year ago

Malaysia's CIMB Q3 profit climbs on improved net interest income

KUALA LUMPUR, Nov 28 (Reuters) - CIMB Group Holdings , Malaysia’s second-largest lender by assets, on Tuesday reported a 10.7 percent rise in quarterly profit, underpinned by better net interest margins, dwindling provisions and a more robust capital market.

The group’s net profit for the third quarter ended September was 1.13 billion ringgit ($274.54 million), versus 1.02 billion ringgit a year ago, it said in a statement to the stock exchange. This surpassed an average estimate of 860.20 million ringgit from five analysts polled by Thomson Reuters.

Malaysian banks have largely been benefiting from a growing domestic economy and firm consumer spending, while improving optimism among businesses versus a year ago also continues to support loan growth. ($1 = 4.1160 ringgit) (Reporting by Liz Lee; Editing by Sumeet Chattejee and Himani Sarkar)

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