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CIMB's FV, earnings forecast cut on slow loans growth

M&A Securities has cut its fair value for CIMB Group Holdings to RM8 from RM 9.30 previously and lowered its earnings forecast due to slower loans growth. The Research House said it has lowered its earnings forecast for CIMB for Fy14 by 10.8% and 13.7% in revenue and profit after tax respectively.