Latest news with #RM1.94
Barnama
3 days 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
3 days 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.
