CIMB Bank experienced a 17% growth in deposits in 2023, with 22% of deposits coming from individual customers. Interest income rose 14%, but this was offset by higher interest expenses, resulting in a 17% decline in net interest income. The bank's net interest income is the difference between the income earned from lending and the interest it must pay its depositors. However, the cost of funds has increased, reflecting the economy's recovery post-Covid. CIMB Bank's non-performing loan (NPL) ratio is below 2%, with the bank focusing on prudent loan issuance. Commercial lending to SMEs, small-cap, and mid-cap companies makes up 60% of the bank's loan portfolio. CIMB Bank reported a 32% decline in profit before tax in 2023 due to higher costs, economic slowdown, and cautious lending. The bank is considering lending in the local currency to boost confidence in the riel. (ICE BANGKOK)

Fonte notizia: Khmer Times