KUALA LUMPUR -- CIMB Group, Malaysia's second-largest bank by assets, reported a strong financial performance for 2024, achieving a net profit of 7.73 billion ringgit ($1.7 billion), which marks a 10.7% year-on-year increase, according to a report released on Friday.
Commenting on the impact on the bank's clients from tariffs imposed by U.S. President Donald Trump, Novan Amirudin, CIMB group chief executive, explained that the situation is "extremely fluid", with discussions of the effects ongoing. As the group moves into 2025, Novan stressed that CIMB will remain "cautious" amid geopolitical and macroeconomic uncertainties.
