CIMB's 3Q15 operating income grows a measly 0.2% to RM3.84b

Non-interest income declined 13%.

CIMB recently reported that on a Q-o-Q basis, 3Q15 operating income grew 0.2% to RM3.840 billion as a result of a 6.4% expansion in net interest income and a 13.0% decrease in non-interest income, mainly from weaker treasury and markets performance.

Here's more from CIMB:

Consumer Banking profit before tax (PBT) declined by 12.2% due to increased provisions arising from seasonal festive effects. Commercial Banking PBT improved on the back of asset growth, lower operating costs and lower provisions.

Wholesale Banking PBT was lower as a result of the weaker Treasury & Markets and Investment Banking performance during the period. 3Q15 BAU net profit was 2.9% higher Q-o-Q at RM902 million attributed to the improvement in operating income and lower provisions.

On a Y-o-Y basis, 3Q15 operating income was 8.8% higher at RM3.840 billion on the back of a 10.8% increase in net interest income and a 4.1% growth in non-interest income. The Consumer and Commercial banking PBT expanded by 21.9% and 11.6% respectively due to asset growth across all geographies and greater control on operating expenses.

Wholesale banking PBT was lower Y-o-Y as a result of the weaker Treasury & Markets and Investment Banking operations. 3Q15 BAU net profit was 1.3% higher Y-o-Y from improved operating income and lower provisions.