CIMB Group announces 3Q20 Profit Before Tax of RM454 million; on track to achieve RM500 million or 5% in absolute cost reduction for FY20

KUALA LUMPUR, Nov 27 (Bernama) — CIMB Group Holdings Berhad (“CIMB Group” or the “Group”) announced a profit before tax (“PBT”) of RM454 million for the third quarter ended 30 September 2020 (“3Q20”), up 132% quarter-on-quarter (“QoQ”) compared to the second quarter ended 30 June 2020 (“2Q20”). The Group registered a net profit of RM194 million in 3Q20.

For the nine months ended 30 September 2020 (“9M20”), CIMB Group registered a PBT of RM1.36 billion and net profit of RM979 million. This translates to an annualised ROE of 2.3% and EPS of 9.9 sen for 9M20.

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