CIMB sees 6%-7% loan growth this year, below earlier target

KUALA LUMPUR: CIMB Group Holdings Bhd expects its loan growth and return on equity (ROE) to come in below its original 2016 target this year.
Group chief executive Tengku Datuk Seri Zafrul Aziz said it is harder to achieve its earlier loan growth target of 10% due to macroeconomic conditions and the region's gross domestic product (GDP) growth.
"We forecast a 6%-7% loan growth this year, while we think ROE will be around the consensus 9%," he told a press conference after announcing CIMB's financial results for the first six months here.
However, Zafrul said all other targets like capital, cost and dividend payout remain on track.