remains cautious in the short term on possible downside risks following the implementation of the full lockdown measures by the government in an effort to keep a lid on the Covid-19 pandemic.
The cautious stance came about despite the bank’s net profit for the first quarter ended March 31,2021, growing by about five times to RM2.46bil from RM507.93mil in the same quarter a year ago.
CIMB Group’s revenue for the quarter rose to RM5.96bil from RM4.14bil a year ago.
“The strong performance seen in the first quarter is an early indicator of recovery, underpinned by the resilience of our underlying business.