KUALA LUMPUR, May 29 (Bernama) —
1) Summary
CIMB Group Holdings Berhad (“CIMB Group” or the “Group”) today reported a Profit Before Tax (“PBT”) of RM1.60 billion for the first quarter of 2019 (“1Q19”). The 8.0% year-on-year (“YoY”) decline was attributed to a lower operating income and a 7.5% increase in operating expenses, partially offset by a 25.2% YoY decline in loan loss provisions. Operating income was 3.2% lower YoY due to a decline in fee income and the RM152 million gain from the sale of CIMB Securities International (“CSI”) in the prior year’s corresponding period. The Group’s 1Q19 net profit was 8.7% lower YoY at RM1.19 billion, translating to a net Earnings Per Share (“EPS”) of 12.5 sen and an annualised Return On average Equity (“ROE”) of 9.2%.
“Although our PBT declined by 8.0% YoY to RM1.60 billion, the QoQ performance improved by 6.0%. This was achieved amid a challenging operating landscape in our key markets. The QoQ performance was supported by better operating income in 1Q19, driven by stronger performances in Thailand and Singapore. Our ROE came in at 9.2%, and we are pleased that our CET1 strengthened to 12.8% while loan loss charge improved to 0.34%,” said Tengku Dato’ Sri Zafrul Aziz, Group CEO, CIMB Group.