CIMB remains cautious this year despite profit up 10% in 2024

Malaysia's second-largest bank raises concerns about impact of U.S. tariffs

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CIMB Group CEO Novan Amirudin, left, and CIMB Group Chief Financial and Strategy Officer Khairul Rifaie. (Photo by Norman Goh)

NORMAN GOH

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.

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