CIMB Group core net profit jump 18.4% in H1

Interim dividend for the period is 13 sen per share.

CIMB Group saw its core net profit rise 18.4% to approximately $692.66m (RM3.10b) in the first half of the year, 18.4% higher than the $581.41m (RM2.62b) it reported in the same period last year. Profit before tax was RM4.26b.

The group has announced an interim dividend of 13 sen per share, comprising 2.6 sen in cash and 10.4 sen in dividend reinvestment scheme or DRS. This amounts to RM1.36b, equal to a dividend payout ratio of 50%, CIMB said.

ALSO READ: CIMB Singapore rebrands Change Alley Mall to CIMB Plaza

Operating income for the first half of 2022 was up 2.7% to RM9.62b. Net interest income (NII) grew 3.8% to RM7.22b, which CIMB attributed to strong loan growth, although net interest margin (NIM) reported a slight drop.

Non-interest income declined to RM2.4b, due to weaker trading and foreign exchange income arising from the challenging investment environment.

Consumer loans grew by 8.4% compared to H1 2021 driven by all core markets, whilst over the same period of comparison, the group’s deposits rose by 3.9% YoY from sustained CASA growth in Malaysia, Indonesia, and Thailand.

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