CIMB posted record earnings for FY17

CIMB Group Holdings Berhad posted a record Profit Before Tax of RM6.11 billion for financial year 2017 25.6% Y-o-Y growth in Net Profit to RM4.48 billion.

CIMB's Net Earnings Per Share stood at 49.6 sen with a net Return On average Equity of 9.6%. The Group declared a second interim net dividend of 12.00 sen per share to be paid via cash or an optional Dividend Reinvestment Scheme.

For FY17, the total dividend amounted to 25.00 sen or RM2.28 billion, translating to a dividend payout ratio of 51.0% of FY17 profits.

Highlights:

Record operating income of RM17.63 billion (+9.7% Y-o-Y)
FY17 PBT improved 25.1% Y-o-Y to RM6.11 billion underpinned by growth in operating income and improved cost management
25.6% Y-o-Y growth in FY17 net profit to RM4.48 billion with annualised ROE of 9.6%
Cost-to-Income ratio improved to 51.8% for FY17 (cf. 53.9% in FY16)
Group CET1 ratio strengthened to 12.2% as of 31 December 2017
Second interim dividend of 12.00 sen per share or 51.0% payout ratio declared for FY17

“We are optimistic about 2018 and confident of achieving our T18 targets, on the back of continued momentum in Malaysia and the expectation of further improvement in loan growth and asset quality across Indonesia, Thailand and Singapore" said Tengku Dato’ Sri Zafrul Aziz, Group CEO, CIMB Group.

"This year will also see us complete our presence in all 10 ASEAN countries with our first branch opening in the Philippines by end-2018.

'We are also excited to launch our digital banking proposition in Vietnam in 1H18. We strongly believe that these, coupled with our strengthened foundation, strategic partnerships and extensive ASEAN network will help us deliver real value to all our stakeholders and further entrench CIMB’s position as a leading ASEAN universal bank," he added.