Amid an industry-wide deposit competition that compressed its margin in the third quarter ended Sept 30, 2023 (3Q23), CIMB Group Holdings Bhd reported its highest quarterly earnings in 2½ years, driven by a strong non-interest income (NOII).
The outlook for CIMB Group Holdings Bhd’s 92.5%-owned Indonesian arm PT Bank CIMB Niaga Tbk is expected to remain bright, following the strong first-half 2023 showing.
The headlines surrounding modern banking have not been comforting. Bank runs, failures and loss of competitiveness are just some of the issues plaguing the western banking circles.