CIMB – the second largest by asset size in the country – like most banks, has seen its profit hit amid the Covid-19 pandemic which has slowed down demand for new loans, and forced banks to set aside more than the normal amount of funds for doubtful debts.
PETALING JAYA: A long-term view is needed for investors wanting to put their money into CIMB Group Holdings Bhd
as growth indicators will take time to show meaningful improvements.
The lender – the second largest by asset size in the country – like most banks, has seen its profit hit amid the Covid-19 pandemic which has slowed down demand for new loans, and forced banks to set aside more than the normal amount of funds for doubtful debts.