CIMB Group Holdings Berhad saw its net profit increasing by 28.3% to RM6.98 billion for the financial year ended 31 December 2023, compared to RM5.44 billion in the preceding year. Profit before tax increased 14.0% YoY to RM9.54 billion, translating to earnings per share of 65.5 sen with a return on average equity of 10.7%. This represents a strong improvement from 9.0% reported ROE recorded in the previous financial year ended 31 December 2022.
The FY23 performance was underpinned by robust operating income growth with solid loan and CASA growth from all core markets, coupled with lower provisions from prudent risk management and recoveries.
Accordingly, the Group proposed an all-cash second interim dividend of 18.50 sen per share, bringing the total proposed annual dividend to 36.00 sen per share for a payout ratio of 55.0%, in line with the Group’s dividend policy. In addition, the Group is also proposing a special dividend payout of RM747 million or 7.00 sen per share. This translates to a record total dividend payout of RM4.59 billion for FY23, providing shareholders with higher returns.
Looking ahead, Group CEO Dato’ Abdul Rahman said, “Moving into 2024, the Group remains vigilant of the global economic uncertainties due to geopolitical tensions and concerns of slowdown in China, together with continued industry competition for deposits. Our priority remains on completing our Forward23+ strategic plan and delivering on key focus areas, such as affluent and wealth management, strengthening our CASA and deposit franchise, as well as implementing effective balance sheet management to improve NIM regionally.”
