IMB Group Holdings Bhd's 94.83 per cent indirectly held subsidiary, CIMB Thai Bank PCL saw net profit soar to 3.03 billion baht for the full financial year ended Dec 31, 2022 (FY2022), an increase of 24.3 per cent or 592.5 million baht versus FY2021 (100 Thai baht: RM13.07).

In a filing with Bursa Malaysia today, CIMB Thai Bank president and chief executive officer Paul Wong Chee Kin said the improvement was mainly attributed to better cost control and a significant decrease of 39.4 per cent in expected credit losses due to lower impairments of assets, despite a marginal decrease in operating income....