Latest news with #CIMB
Malay Mail
an hour ago
- Business
- Malay Mail
U Mobile secures RM4b funding to accelerate 5G expansion, appoints CIMB as loan coordinator
KUALA LUMPUR, May 31 — U Mobile has appointed CIMB as the company's loan coordinator and mandated lead arranger to facilitate and arrange financing of up to RM4 billion to support the nationwide deployment of its cutting-edge 5G network infrastructure. In a joint statement, U Mobile said the financing would fund its capital expenditure (capex) to accelerate the rollout of its Next Gen 5G network, which aims to achieve 80 per cent coverage of populated areas (COPA) by July 2026. As part of the arrangement, CIMB intends to participate in the financing of at least RM1.5 billion, with the balance to be syndicated among other financial institutions. 'This milestone underscores U Mobile's continued momentum as the nation's newest 5G network provider, spurring digital connectivity and innovation, solidifying Malaysia's digital ambitions,' the statement said. — Bernama
Barnama
2 hours ago
- Business
- Barnama
U Mobile Appoints CIMB As Loan Coordinator For RM4 Bln 5G Funding
KUALA LUMPUR, May 31 (Bernama) -- U Mobile has appointed CIMB as the company's loan coordinator and mandated lead arranger to facilitate and arrange financing of up to RM4 billion to support the nationwide deployment of its cutting-edge 5G network infrastructure. In a joint statement, U Mobile said the financing would fund its capital expenditure (capex) to accelerate the rollout of its Next Gen 5G network, which aims to achieve 80 per cent coverage of populated areas (COPA) by July 2026. As part of the arrangement, CIMB intends to participate in the financing of at least RM1.5 billion, with the balance to be syndicated among other financial institutions.
The Sun
15 hours ago
- Business
- The Sun
CIMB posts steady Q1 performance, strengthens Asean focus
PETALING JAYA: CIMB Group Holdings Bhd reported a net profit of RM1.97 billion for the first quarter ended March 31, 2025 (Q1'25), representing a slight improvement of 1.91% from RM1.93 billion posted in the same quarter last year. Revenue decreased 2.31% to RM5.49 billion in Q1'25 from RM5.62 billion in Q1'24. Net interest income increased marginally quarter-on-quarter (q-o-q) and year-on-year (y-o-y) to RM3.82 billion. Meanwhile, non-interest income (NOII) grew 11.1% q-o-q, driven by an 18.9% rise in treasury client sales and a 12.6% increase in fee and commission income. On a y-o-y basis, NOII contracted by 8.5% to RM1.68 billion, primarily due to lower sales of non-performing loans and proprietary trading. On a constant currency basis, CIMB's total assets and gross loans increased by 5.1% and 4.4% y-o-y, respectively. The group's deposit-led strategy continued to expand total deposits by 2.7% y-o-y, with total current account savings account (Casa) inflows growing 7.4% y-o-y. This boosted the Casa ratio to 43.8% as of March 2025, up from 40.8% recorded as of March 2024. The group's growing Casa base and favourable funding mix helped lower the cost of funds by 4 basis points q-o-q and 11 basis points y-o-y. Prudent asset-liability management helped maintain a stable NIM of 2.16% in Q1'25 – unchanged from Q4'24 – despite interest rate cuts in Thailand, Indonesia and Singapore. The group's cost-to-income ratio stood at 46.9% in Q1'25, attributed to sustained cost prudence, without compromising investments in technology and resilience. Meanwhile, total provisions remained at RM311 million, with credit cost improving to 26 basis points, compared to 35 basis points in Q1'24. The gross impaired loans ratio decreased by 40 basis points y-o-y to 2.2%, with additional forward overlays of RM100 million in Q1'25, resulting in a healthy allowance coverage ratio of 102.4%. The group continued to maintain a strong capital position, with Common Equity Tier 1 ratio at 14.7%. CIMB Group CEO Novan Amirudin said, 'The first quarter performance underscores the continued strength of our diversified Asean portfolio with strong contributions across multiple income segments, particularly from our client franchise income, which has shown consistent growth since 2022. 'We have maintained healthy asset quality and exercised disciplined cost controls to enhance resilience amid a dynamic operating environment.' During the quarter, CIMB Group transitioned its leadership in Thailand and Cambodia, and included Thailand, Cambodia and Singapore as part of the group's growth markets, allowing it to sharpen its strategic focus and drive growth in priority segments. In the medium term, CIMB Group believes that the evolving global landscape will continue to present new opportunities, particularly in intra-Asean trade, where the group's integrated Asean franchise is poised to capitalise on growth prospects. The group is well positioned to navigate the ongoing market uncertainties, supported by minimal exposure to trade-related loans and clients with direct US export dependencies. With a strong asset quality and a healthy loan-to-deposit ratio of 88.9%, CIMB Group's prudent portfolio strategy mitigates risks from potential tariff-related headwinds, reinforces balance sheet stability, and ensures capacity to fund future growth amid global volatility.
Barnama
21 hours ago
- Business
- Barnama
CIMB Records RM1.97 Bln Net Profit In 1Q FY2025
BUSINESS KUALA LUMPUR, May 30 (Bernama) -- CIMB Group Holdings Bhd's net profit rose 9.6 per cent to RM1.97 billion in the first quarter of financial year ending Dec 31, 2025 (1Q FY2025) from RM1.94 billion in the same period a year ago. Revenue for the quarter decreased to RM5.50 billion from RM5.63 billion a year ago, a Bursa Malaysia filing said today. In a separate statement, the banking group said net interest income rose marginally year-on-year (y-o-y) to RM3.82 billion. 'On a y-o-y basis, non-interest income (NOII) contracted 8.5 per cent to RM1.68 billion, affected by lower sales of non-performing loans and proprietary trading,' the bank said in the statement. 'Prudent asset-liability management also helped maintain a stable net interest margin (NIM) of 2.16 per cent in the quarter under review – unchanged from 4Q 2024, despite rate cuts in Thailand, Indonesia and Singapore,' the statement said. Group chief executive officer Novan Amirudin said its 1Q performance underscores the continued strength of CIMB's diversified ASEAN portfolio, with strong contributions across multiple income segments, particularly from its client franchise income, which has shown consistent growth since 2022. 'The emergence of a 'new world order' is shaping a more multipolar global landscape, with ASEAN poised to play a pivotal role as a regional connector in trade and capital flows,' he said. Novan added that with the execution of the group's Forward30 strategic plan, CIMB is confident in its ability to deliver both short- and long-term targets, underpinned by the strength of its franchise. 'We will remain disciplined and proactive with capital optimisation, including returning excess capital to our shareholders as we have demonstrated over the last two years.
New Straits Times
21 hours ago
- Business
- New Straits Times
CIMB's Q1 net profit rises to RM1.97bil on RM5.5bil revenue
KUALA LUMPUR: CIMB Group Holdings Bhd recorded a higher net profit of RM1.97 billion for the first quarter ended March 31, 2025, up from RM1.94 billion in the same period last year, supported by stronger net interest income (NII). Its revenue slipped slightly to RM5.5 billion from RM5.6 billion in the same period last year, mainly due to compressed net interest margins (NIM). However, this was cushioned by growth in assets. CIMB's NII saw a slight increase both quarter-on-quarter (QoQ) and year-on-year (YoY) to RM3.82 billion. Meanwhile, its non-interest income (NOII) rose 11.1 per cent QoQ, supported by an 18.9 per cent jump in treasury client sales and a 12.6 per cent rise in fee and commission income. In a filing with Bursa Malaysia, the banking group said it remains committed to implementing its Forward30 strategic plan, focusing on customer-centric initiatives, enhancing operational efficiency, and promoting sustainable banking practices. "During the quarter, CIMB transitioned its leadership in Thailand and Cambodia, and have included Thailand, Cambodia and Singapore as part of the group's growth markets to sharpen strategic focus and drive growth in priority segments. "In the medium term, CIMB believes the evolving global landscape will continue to present new opportunities, particularly in intra-Asean trade, where the Group's integrated Asean franchise is poised to seize growth prospects," it added. CIMB stated that it is well-equipped to manage ongoing market volatility, thanks to its limited exposure to trade-related financing and clients heavily reliant on exports to the US. Group chief executive officer Novan Amirudin said CIMB's first-quarter results reflect the resilience of its diversified Asean portfolio, with solid performance across various income streams, especially client franchise income, which has been steadily growing since 2022. "We have maintained healthy asset quality and exercised disciplined cost controls to enhance resilience amid a dynamic operating environment. "In an increasingly uncertain market condition, we remain committed to being a reliable and trusted partner for our customers. Novan said the group's strong focus on prudent risk management and operational discipline has positioned it well to support its clients, maintain stability and create value for shareholders. "With disciplined execution of our Forward30 strategic plan, we are confident in our ability to deliver both short- and long-term targets, backed by the strength of our franchise. "We will remain disciplined and proactive with capital optimisation, including returning excess capital to our shareholders as we have demonstrated over the last two years," he added.
