KUALA LUMPUR: Shares of CIMB Group Holdings Bhd halted their decline in early trade on Wednesday, July 20 after CIMB Thai Bank Public Company Ltd posted net profit of 536.4 million baht (RM54 million) in the first half ended June 30, 2011.
At 9.15am, CIMB rose three sen to RM8.47 with 917,200 shares traded.
CIMB had been on the decline since last week on reports that the central bank of Indonesia could introduce a cap on foreign ownership in local banks later this year.
CIMB Thai Bank yesterday said total operating income was 3.2 billion baht, underpinned by net interest income and fee and service income.
CIMB Thai Bank president and chief executive officer Subhak Siwaraksa said the group operating results for 1H showed a 24.9% decline in net profit to 536.4 million baht, from 714.0 million a year ago.
However, he explained in 2010, there was special revenue recognised including gains from disposal of Sathorn building in 1Q2010 and CIMB-Principal Asset Management in 2Q10.
'Should we exclude these items, profit should increase 160%,' he said.
At 9.15am, CIMB rose three sen to RM8.47 with 917,200 shares traded.
CIMB had been on the decline since last week on reports that the central bank of Indonesia could introduce a cap on foreign ownership in local banks later this year.
CIMB Thai Bank yesterday said total operating income was 3.2 billion baht, underpinned by net interest income and fee and service income.
CIMB Thai Bank president and chief executive officer Subhak Siwaraksa said the group operating results for 1H showed a 24.9% decline in net profit to 536.4 million baht, from 714.0 million a year ago.
However, he explained in 2010, there was special revenue recognised including gains from disposal of Sathorn building in 1Q2010 and CIMB-Principal Asset Management in 2Q10.
'Should we exclude these items, profit should increase 160%,' he said.
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