CIMB’s FY17 PBT up 25.1% to a RM6.11 billion record

CIMB Group Holdings Berhad reports a Profit Before Tax of RM6.11 billion for the financial year 2017.

On a year-on-year basis, the Group’s FY17 operating income expanded 9.7%, translating to a 14.6% Y-o-Y improvement in Pre-Provision Operating Profit (“PPOP”) and a 25.6% Y-o-Y growth in Net Profit to RM4.48 billion.
The FY17 net Earnings Per Share (“EPS”) stood at 49.6 sen with a net Return On average Equity (“ROE”) 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 (“DRS”).
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.
“We are pleased to have met our key financial targets for 2017 and to report our highest ever PBT of RM6.11 billion, an increase of 25.1% Y-o-Y, on the back of record operating income of RM17.63 billion, continued cost discipline and lower provisions. Both Wholesale and Consumer Banking had a good year, posting PBT growth of 53.0% and 11.8% respectively,” said Tengku Dato’ Sri Zafrul Aziz, Group CEO, CIMB Group.
“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. 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,” added on Zafrul.
“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,” concluded Zafrul.