KUALA LUMPUR, March 1 (Bernama) — CIMB Group Holdings Berhad (“CIMB Group” or “the Group”) on 28 February 2023 announced strong financial performance with a core¹ profit before tax (“PBT”) of RM8.49 billion for the financial year ended 31 December 2022 (“FY22”), a 33.8% increase year-on-year (“YoY”). Core net profit increased by 33.5% to RM6.21 billion, translating to core earnings per share (“EPS”) of 59.5 sen with core annualised return on average equity (“ROE”) improving to 10.2% from 8.1% recorded in the previous financial year ended 31 December 2021 (“FY21”).
The strong performance was driven by stronger operating income from robust loan growth and net interest margin (“NIM”) expansion, stringent cost management, and lower provisions from prudent risk management, recoveries and portfolio de-risking.