KUALA LUMPUR, June 1 (Bernama) — CIMB Group Holdings Berhad (“CIMB Group” or “the Group”) has announced that the Group achieved a core¹ profit before tax (“PBT”) of RM2.10 billion for the first quarter ended 31 March 2022 (“1Q22”), up 17.5% year-on-year (“YoY”) from RM1.79 billion recorded in the first quarter ended 31 March 2021 (“1Q21”). The Group sustained its core pre-provisioning operating profit (“PPOP”) YoY to reach RM2.51 billion whilst core net profit positively grew by 16.0% YoY to hit RM1.55 billion. The performance translates to a core annualised return on average equity (“ROE”) of 10.5% and core earnings per share (“EPS”) of 15.2 sen.
1Q22 core operating income was flat YoY but grew 2.9% QoQ reaching RM4.74 billion. Out of this, net interest income (“NII”) grew by 3.8% YoY to RM3.55 billion, despite a marginally lower net interest margin (“NIM”) of 2.45% mainly due to the Group’s Indonesia business. Core non-interest income (“NOII”) declined by 10.9% YoY to RM1.19 billion due to weaker global investment environment.