KUALA LUMPUR - Malaysia's second-largest lender by assets CIMB Group Holdings Bhd reported a 29.8 per cent rise in quarterly earnings, mainly due to improved cost controls, lower credit charges and stronger earnings by its Indonesian unit.

CIMB reported fourth quarter net profit on Monday of 1.13 billion ringgit (S$471 million) compared with 873 million ringgit a year ago.

The net profit was above the average 1.07 billion ringgit profit estimate provided by Thomson Reuters I/B/E/S.