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KUALA LUMPUR (Nov 30): CIMB Group Holdings Bhd and Hong Leong Bank Bhd (HLB) were at opposite ends of the spectrum this morning, with the former being one of the main losers in Bursa Malaysia and the latter the main winner of the local exchange .
CIMB was the fourth biggest loser in Bursa Malaysia today, falling 3.92% or 15 to RM3.68 each at 9.52am. At this price, CIMB now has a market capitalization of RM36.52 billion. He saw 14.12 million shares traded.
By contrast, Hong Leong Bank was the main value gainer on the local stock market at the time of writing. It was up 3.29% or 56 sen to RM17.58 each, valued at RM38.11 billion. He saw 110,400 stocks change hands.
Hong Leong Bank’s parent Hong Leong Financial Group Bhd also posted a small profit, rising 0.62% or 10 sen to RM16.20, valued at RM18.69 billion.
The divergent results of CIMB and Hong Leong Bank can be attributed to their latest quarterly results released last Friday.
Hong Leong Bank’s net profit increased 5.9% to RM728.9 million in the first quarter ended September 30, 2020 (1QFY21), from RM688.68 million, while revenue grew 11.01% to RM1.35 billion, from RM1.22 billion in the corresponding quarter of last year.
CIMB saw its net profit for the third quarter ended September 30, 2020 (3QFY20) drop by 80.8% to RM194.4 million, from RM1.01 billion a year earlier. Its revenue or operating income for the quarter fell 3.7% to RM4.46 billion from RM4.64 billion.
As for some of the other banks listed on Bursa Malaysia, Public Bank Bhd also posted a one-minute profit, increasing 0.21% or four sen more to RM18.64, valued at RM72.36 billion. Saw 726,400 actions taken.
Alliance Bank Malaysia Bhd also rose, rising 0.39% or one sen higher to RM2.59, giving it a market value of RM4.01 billion.
Meanwhile, Affin Bank Bhd was down 1.88% or three sen to RM1.57, valued at RM3.27 billion, with 352,100 shares made.
As for Malayan Banking Bhd (Maybank), it fell 0.36% or three sen to RM8.26, valuing it at RM92.85 billion. He saw 553,900 shares traded.
The Financial Services Index, which counts banks as constituents, fell 0.08% or 11.88 points to 14,251.22 points.
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