Latest news with #CIMBThaiBankPCL
The Sun
21-07-2025
- Business
- The Sun
CIMB Thai first-half net profit slips to 1 billion baht
UALA LUMPUR: CIMB Thai Bank PCL, a 94.83%-owned indirect subsidiary of CIMB Group Holdings Bhd, saw its net profit fall 21.8% year-on-year (y-o-y) to 1.01 billion baht (RM132 million) in the first half ended June 30, 2025 (H1'25). In a filing with Bursa Malaysia today, CIMB Thai president and CEO Wut Thanittiraporn said the lower net profit was primarily due to one-off items, namely the adjustment in revenue recognition based on the effective interest rate (EIR) methodology and the additional expected credit loss (ECL) overlay. He said CIMB Thai Group's H1'25 consolidated operating income fell by 257.8 million baht to 6.78 billion baht, mainly due to lower interest income on loans. He added that this was partially offset by a higher net fee and service income, which increased 30.5 million baht. Operating expenses for the period also declined by 832.7 million baht, or 19.1%, due to lower impairment losses on properties for sale and lower specific business tax resulting from lower interest income, partially offset by higher employee expenses. 'This consequently improved the cost-to-income ratio to 52.1% in 1H 2025 compared to 62% in the first half of last year. 'Net interest margin (NIM) over earning assets stood at 1.9%t in 1H 2025, compared to 2.2%in 1H 2024, arising from lower interest income on loans,' Wut added. As at June 30, 2025, total gross loans (inclusive of loans guaranteed by other banks and loans to financial institutions) stood at 244.2 billion baht, a decrease of 2.8% from Dec 31, 2024. Deposits (inclusive of bills of exchange, debentures and selected structured deposit products) stood at 316.5 billion baht, a decrease of 2.3% from 324 billion baht as at end-December 2024. The gross non-performing loans (NPL) stood at 6.3 billion baht, with a flat gross NPL ratio of 2.6%. 'The gross NPL ratio is reflective of CIMB Thai Group's stringent credit risk underwriting, effective risk management policies, improvement in loan collection processes and the continued management of the Bank's NPLs,' he said. Wut said CIMB Thai Group's loan loss coverage ratio stood at 155.9 per cent as at June 30, 2025, from 149.0 per cent as at Dec 31, 2024. – Bernama
New Straits Times
21-07-2025
- Business
- New Straits Times
CIMB Thai's 1h net profit down 21.8pct to 1.01bil baht in 1h 2025
KUALA LUMPUR: CIMB Thai Bank PCL, a 94.83 per cent-owned indirect subsidiary of CIMB Group Holdings Bhd, saw its net profit fall 21.8 per cent year-on-year (y-o-y) to 1.01 billion baht (100 baht = RM13.08) in the first half ended June 30, 2025 (1H 2025). In a filing with Bursa Malaysia today, CIMB Thai president and chief executive officer Wut Thanittiraporn said the lower net profit was primarily due to one-off items, namely the adjustment in revenue recognition based on the effective interest rate (EIR) methodology and the additional expected credit loss (ECL) overlay. He said CIMB Thai Group's 1H 2025 consolidated operating income fell by 257.8 million baht to 6.78 billion baht, mainly due to lower interest income on loans. He added that this was partially offset by a higher net fee and service income, which increased 30.5 million baht. Operating expenses for the period also declined by 832.7 million baht, or 19.1 per cent, due to lower impairment losses on properties for sale and lower specific business tax resulting from lower interest income, partially offset by higher employee expenses. "This consequently improved the cost-to-income ratio to 52.1 per cent in 1H 2025 compared to 62.0 per cent in the first half of last year. "Net interest margin (NIM) over earning assets stood at 1.9 per cent in 1H 2025, compared to 2.2 per cent in 1H 2024, arising from lower interest income on loans," Wut added. As at June 30, 2025, total gross loans (inclusive of loans guaranteed by other banks and loans to financial institutions) stood at 244.2 billion baht, a decrease of 2.8 per cent from Dec 31, 2024. Deposits (inclusive of bills of exchange, debentures and selected structured deposit products) stood at 316.5 billion baht, a decrease of 2.3 per cent from 324.0 billion baht as at end-December 2024. The gross non-performing loans (NPL) stood at 6.3 billion baht, with a flat gross NPL ratio of 2.6 per cent. "The gross NPL ratio is reflective of CIMB Thai Group's stringent credit risk underwriting, effective risk management policies, improvement in loan collection processes and the continued management of the Bank's NPLs," he said. Wut said CIMB Thai Group's loan loss coverage ratio stood at 155.9 per cent as at June 30, 2025, from 149.0 per cent as at Dec 31, 2024.
The Star
21-07-2025
- Business
- The Star
CIMB Thai records 1H net profit of THB1.01bil
KUALA LUMPUR: The Thai banking arm of CIMB Group Holdings Bhd recorded a net profit of THB1.01bil (RM132.45mil) in the six months ended June 30, 2025, which marked a 21.8% decline from its net profit in the same period in 2024. CIMB Thai Bank PCL, which is a 94.83%-owned subsidiary of CIMB Group, said the weaker performance was owing mainly to one-off items, namely the adjustment in revenue recognition based on the effective interest rate (EIR) methodology and the additional expected credit loss (ECL) overlay. "These were proactive measures taken to strengthen the bank's financial resilience in the long term, and were not a result of any deterioration in asset quality. "This reflects the bank's prudent risk management approach amid a still-uncertain economic environment," said CIMB Thai presdent and CEO Wut Thanittiraporn in his review of the results in a statement. CIMB Thai's consolidated operating income contracted THB257.8mil or 3.7% on a year-on-year (y-o-y) basis. It said this resulted from a 13.6% decline in net interest income to THB646mil, caused mainly by lower interest income on loans, partially offset by higher net fee and service income of THB30.5mil. Other operating income increased THB357.8 mil or 21.5%, contributed by higher gains on investments, partially offset by lower gains on financial instruments measured at fair value through profit or loss and sale of non-performing loans. Meanwhile, operating expenses contracted THB832.7mil or 19.1%, from lower impairment loss on properties for sale and lower specific business tax as a result of lower interest income, partially offset by higher employee expenses. The bank's cost-to-income ratio improved to 52.1% in 6M25 as compared to 62% in 6M24 Net Interest Margin (NIM) over earning assets stood at 1.9% in 6M25, compared to 2.2% in 6M24, arising from lower interest income on loans. As at June 30, 2025, the bank's total gross loans stood at THB244.2bil, a decline of 2.8% from Dec 31, 2024. Deposits stood at THB316.5bil, a decrease of 2.3% from THB324bil as at end-December 2024.
