KUALA LUMPUR, Sept 1 (Bernama) — CIMB Group Holdings Berhad (“CIMB Group” or “the Group”) today announced that the Group recorded a net profit of RM3.42 billion for the first half ended 30 June 2023 (“1H23”), an increase of 26.2%, compared to RM2.71 billion in the first half ended 30 June 2022 (“1H22”). Profit before tax (“PBT”) grew strongly, reaching RM4.72 billion, up 13.6% YoY from RM4.15 billion in the preceding year. The positive performance was driven by strong operating income growth, stringent cost controls and lower provisions as the Group benefits from its diversified ASEAN portfolio, with strong business growth recorded in Indonesia and Singapore.
This translates to earnings per share (“EPS”) of 32 sen and annualised 1H23 return on average equity (“ROE”) of 10.6%, which significantly improved compared to 9.1% in 1H22. Accordingly, the Group has increased its dividend payout ratio to 55% for 1H23 from 50% in 1H22, which results in a proposed all-cash first interim dividend of 17.50 sen per share this year, amounting to RM1.87 billion. This was based on the reported 1H23 net profit, in line with the Group’s dividend policy.