Mobile Detect Status

If you want to use the mobile_detect cache contexts to vary the content served to anonymous users, "Internal Page Cache" must be disabled, and the performance impact that entails incurred.

Internal Page Cache module is disabled

  • Is Desktop
  • Is Not Mobile
  • Is Not Tablet
, Malaysia

CIMB posts $293.5m net profit for FY2020

Higher loan provisions affected the bank's performance.

CIMB has registered a $293.5m (MYR1.19b) net profit for FY2020, affected by higher loan provisions and specific provisions versus COVID-19 and legacy accounts, according to a statement.

For Q4, the group reported a sequential operating income growth of 5.6% QoQ to $1.16b (MYR4.72b), underpinned by a 3.8% increase in net interest income (NII) and 10.3% non-interest income (NOII) growth.

NII grew marginally to $3.14b (MYR12.73b) YoY despite a 14 bps decrease in net interest margin (NIM) to 2.32% due to the impact of lower interest rates and modification loss.

As for NOII, stronger treasury and markets, wealth management, and investment banking activity in the second half of the year partially offset weakness in the first half, resulting in NOII of $1.1b (MYR4.46b).

Topline resilience, cost discipline and proactive measures to protect asset quality allowed the group to strengthen its financial position, leading to its highest CET1 ratio of 13.3%. Current account savings account (CASA) also grew 22.6% in FY20, bringing the CASA ratio to 41.3% as of December 2020.

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Get Asian Banking and Finance in your inbox

Contact me about the awards