Cimb Group Holdings Bhd · MYX:CIMB
Cimb Group Holdings Bhd — H1 2010 Earnings Presentation
64 slides from Cimb Group Holdings Bhd's earnings presentation, Aug 26, 2010
Slide 1: CIMB Group Holdings Berhad First Half 2010 Results
CIMB GROUP HOLDINGS BERHAD FIRST HALF 2010 RESULTS Analyst Presentation 26 August 2010
Slide 2: Highlights
Highlights Good first half performance with rebound in CIBD, a surge in contribution from CIMB Niaga, drop in loan loss provisions and higher NIMs 1H10 PAT up 35.2% Y-o-Y, ROE of 17% Record net earnings in 2Q10 at RM889 mil Interim single tier dividend of 4.625 sen (50% of FY10 target) Bas
Slide 3: CIMB Group 1H10 Financials
CIMB GROUP : 1H10 RESULTS CIMB GROUP 1H10 FINANCIALS
Slide 4: Earnings Summary
Earnings Summary 2Q10 1Q10 1H10 1H09 (RM ’mil) Q-o-Q Y-o-Y (FRS 139) (FRS 139) (FRS 139) (GP3) Net interest income 1,933 1,830 5.6% 3,763 3,202 17.5% Non interest income 1,086 1,012 7.3% 2,098 1,901 10.4% Operating income 3,019 2,842 6.2% 5,861 5,103 14.9% Loan impairment (122) (150) (18.7)% (272) (
Slide 5: Quarterly Earnings Trend
Quarterly Earnings Trend Series break due to adoption of FRS 139 Notes: * Amounts denoted in RM ’mil 5 ** Annualised quarter (respectively)
Slide 6: Contribution by Entity
Contribution by Entity 2Q10 1Q10 1H10 1H09 Legal Entity RM ’mil % of PBT RM ’mil % of PBT RM ’mil % of PBT RM ’mil % of PBT CIMB Bank 675 57% 567 50% 1,242 54% 1,231 71% CIMB Niaga 405 34% 423 37% 828 36% 305 18% CIMB Thai 20 2% 6 1% 26 1% (29) (2%) CIMB Labuan 46 4% 42 4% 88 4% 119 7% CIMB Islamic
Slide 7: Contribution by Geography
Contribution by Geography 2Q10 1Q10 Others Thailand Thailand 4% Singapore Others 2% Singapore 1% 2% 6% 3% Indonesia 34% Indonesia Malaysia 37% Malaysia 55% 56% 1H10 1H09 Others Thailand Thailand Others -2% Singapore Singapore 5% 1% 4% 0% 2% Indonesia 18% Indonesia 36% Malaysia 56% Malaysia 80% Note:
Slide 8: Estimated PBT By Segment
Estimated PBT By Segment 2Q10 1Q10 1H10 1H09 PBT Q-o-Q Y-o-Y (FRS 139) (FRS 139) (FRS 139) (GP3) (after Head Office cost allocation) RM ’mil RM ’mil % RM ’mil RM ’mil % Consumer Banking - Good Bank 144 136 5.9% 280 246 13.8% - Bad Bank 50 (9) n.a. 41 14 192.9% 194 127 52.8% 321 260 23.5% Corporate &
Slide 9: Estimated PBT By Segment
Estimated PBT By Segment 2Q10 1Q10 CIMB Thai Consumer CIMB Thai Consumer 2% Banking 1% Banking 16% 11% CIMB Niaga CIMB Niaga 34% 37% Corporate & Inv Banking 21% Corporate & Inv Banking 22% GAM & Insurance GAM & 3% Treasury & Insurance Treasury & Investments 1% Investments 23% 29% 1H10 1H09 CIMB Thai
Slide 10: Consolidated Balance Sheet Changes
Consolidated Balance Sheet Changes (RM ‘mil) 30th Jun 10 31st Mar 10 Q-o-Q 30th Jun 09 Y-o-Y Cash & short term funds 22,701 25,852 (12%) 21,286 7% Securities purchased under resale agreements 4,120 3,980 4% 5,481 (25%) Deposits & placements with financial institutions 13,580 11,784 15% 7,200 89% Fin
Slide 11: AFS MTM Position
AFS MTM Position (RM ’mil) * Note: *Opening balances adjusted for FRS 139 11
Slide 12: Key Ratios
Key Ratios (%) 2Q10 1Q10 Q-o-Q 1H10 1H09 Y-o-Y ROE * 17.2 16.5 4.4% 17.0 14.4 18.1% NIM * 3.47 3.33 5.0% 3.41 3.14 8.6% Non-interest income/ total income 44.8 43.6 2.8% 44.2 43.0 2.8% Cost / income 54.2 55.0 (1.5%) 54.6 53.7 1.7% Allowance coverage / Loan loss coverage 78.4 80.5 (2.6%) 78.4 86.8 (9.
Slide 13: Gross Loans Growth
Gross Loans Growth 30th Jun 10 31st Mar 10 30th Jun 09 Products / Divisions Q-o-Q Y-o-Y (RM ’bil) (RM ’bil) (RM ’bil)* Consumer Banking 76.3 73.8 3.4% 66.2 15.2% Mortgages 32.4 31.0 4.5% 26.4 22.9% HP 11.8 11.5 3.0% 11.2 5.7% OD and TL 13.0 12.4 4.7% 10.3 26.7% Credit cards 3.7 3.4 8.0% 2.7 38.3% CI
Slide 14: Deposits Growth
Deposits Growth Divisions / 30th Jun 10 31st Mar 10 30th Jun 09 Q-o-Q Y-o-Y Products (RM ’bil) (RM ’bil) (RM ’bil) Retail 45.9 44.5 3.1% 38.1 20.5% - Current 8.4 7.9 6.3% 4.5 86.7% - Savings 10.6 10.6 - 9.6 10.4% - Fixed & structured deposits 26.9 26.0 3.5% 24.0 12.1% Business 21.6 20.5 5.3% 18.4 17
Slide 15: CASA Growth
CASA Growth Divisions / 30th Jun 10 31st Mar 10 30th Jun 09 Q-o-Q Y-o-Y Products (RM ’bil) (RM ’bil) (RM ’bil) Current Deposits 38.6 37.7 2.4% 31.3 23.3% - Malaysia & Singapore 29.6 28.5 3.9% 23.4 26.5% - Thailand 0.1 0.2 (50.0%) 0.1 - - Indonesia 8.9 8.9 - 7.8 14.1% Savings Deposits 20.4 19.9 2.5%
Slide 16: Loan Assets by Geography
Loan Assets by Geography Jun 2010 June 2009 Singapore Singapore RM4.1 bil Others RM3.5bil Others 2% RM3.1 bil Thailand 3% RM 2.0bil Thailand 2% RM9.7 bil 2% RM8.3 bil 6% 6% Indonesia Indonesia RM34.2 bil RM26.3 bil 21% 19% Malaysia Malaysia RM109.6 bil RM97.0 bil 68% 71% Note: Others include oversea
Slide 17: Asset Quality Ratios – CIMBG
Asset Quality Ratios – CIMBG Series break due to adoption of FRS 139 90.8% 88.1% 86.8% 86.7% 85.6% 78.5% 75.8% 73.2% 70.4% 80.6% 80.5% 65.9% 78.4% 61.5% 7.9% 7.6% 7.5% 7.2% 7.1% 7.2% 8.6% 6.5% 6.1% 5.6% 5.6% 5.5% 5.1% 4.9% 4.4% 3.8% 3.6% 5.0% 3.2% 3.0% 2.3% 2.5% 2.4% 2.4% 2.0% 2Q07 3Q07 4Q07 1Q08 2Q
Slide 18: 1H10 Annualised Credit Charge by Country
1H10 Annualised Credit Charge by Country Malaysia & Singapore 0.04% Indonesia 1.37% Thailand 0.74% Others -1.28% Note: 18 Others include overseas branches and Labuan
Slide 19: Capital Management
Capital Management RWCR – CIMB Bank (Basel I) 13.8% 14.0% 15.1% 15.3% 15.6% 15.0% 2.9% 3.4% 3.3% 3.2% Tier 2 CAR 3.5% 2.9% 12.7% 13.5% 14.8% 14.6% 14.8% 14.2% Tier 1 CAR Jun-09 Sep-09 Dec-09 1st Jan 10 Mar-10 ** Jun-10* (Proforma) CIMB Group Jun 10 Mar 10 Jun 10 Jun 10 Mar 10 RWCR (Basel I) (with 1H
Slide 20: CIMBG: Operating Expenses
CIMBG : Operating Expenses (RM ’mil) 2Q10 1Q10 Q-o-Q 1H10 1H09 Y-o-Y Personnel 784 783 0.1% 1,567 1,322 18.9% Establishment 357 360 (0.8%) 717 598 19.9% Marketing 113 90 25.6% 203 165 23.0% Admin & General 381 330 15.5% 711 656 8.4% Total 1,635 1,563 4.6% 3,198 2,741 16.7% 20
Slide 21: Consumer Bank
CIMB GROUP : 1H10 RESULTS CONSUMER BANK
Slide 22: Consumer Bank Financials
Consumer Bank Financials 2Q10 1Q10 1H10 1H09 (RM ’mil) Q-o-Q Y-o-Y (FRS 139) (FRS 139) (FRS 139) (GP3) Net interest / financing income 732 671 9.1% 1,403 1,391 0.9% Non interest income 235 206 14.6% 441 367 20.4% Total income 967 877 10.3% 1,844 1,758 4.9% Overheads (direct + head (731) (691) 5.9% (
Slide 23: Consumer Good Bank Financials
Consumer Good Bank Financials 2Q10 1Q10 1H10 1H09 (RM ’mil) Q-o-Q Y-o-Y (FRS 139) (FRS 139) (FRS 139) (GP3) Net interest / financing income 712 665 7.1% 1,377 1,352 1.8% Non interest income 236 206 14.6% 442 365 21.1% Total income 948 871 8.8% 1,819 1,717 5.9% Overheads (direct + head (693) (646) 7.
Slide 24: Malaysian Consumer Market Shares
Malaysian Consumer Market Shares Mortgages* Credit Cards Rank #3 #2 #2 Rank #4 #3 #3 13.8 12.4 12.8 12.9 13.1 10.5 10.2 11.0 11.1 9.6 10 Market Share (%) Market Share (%) 8.8 31st Dec 07 31st Dec 08 31st Mac 10 31st Dec 07 31st Dec 08 31st Mac 10 Residential Non-Residential Loan Base Card Base HP^ S
Slide 25: Malaysian Consumer Banking Indicators
Malaysian Consumer Banking Indicators Retail Loans – Housing Loans and Business Premises Loans (RM ’mil) 2,816 2,803 2,362 2,196 1,738 835 838 627 594 485 2Q09 3Q09 4Q09 1Q10 2Q10 Housing Loans Business Premises Loans Credit Cards CIMB Express–Gross Loan Base (RM ’mil) 1,155 11 1,142 3,009 1,113 2,9
Slide 26: Malaysian Consumer Banking Indicators
Malaysian Consumer Banking Indicators Retail Banking Deposits Retail Banking AUM (RM ’mil) 295,424 0.4 0.4 287,869 0.4 3.3 2.9 275,492 273,810 0.4 2.8 0.3 2.0 1.9 2.9 2.0 257,844 2.9 36,788 37,320 1.9 35,616 1.9 36.8 37.3 33,866 35.6 32,961 32.5 33.4 2Q09 3Q09 4Q09 1Q10 2Q10 Jun-09 Sep-09 Dec-09 Mar
Slide 27: Singapore Retail Banking Indicators
Singapore Retail Banking Indicators Retail Deposits (SGD ’mil) Home Loan Outstanding (SGD ’mil) 1,714 309 1,523 1,280 177 620 68 14 Sep-09 Dec-09 Mar-10 Jun-10 Sep-09 Dec-09 Mar-10 Jun-10 Retail Customer Base* Credit Cards 43,115 15,620 13,155 26,297 69 10,631 12,264 43 5,660 1,226 20 1 Sep-09 Dec-0
Slide 28: Treasury & Investment Banking
CIMB GROUP : 1H10 RESULTS TREASURY & INVESTMENT BANKING
Slide 29: Treasury and Investment Financials
Treasury and Investment Financials 2Q10 1Q10 1H10 1H09 (RM ’mil) Q-o-Q Y-o-Y (FRS 139) (FRS 139) (FRS 139) (GP3) Net interest / financing income 174 193 (9.8%) 367 368 (0.3%) Fee income 2 5 (60.0%) 7 3 133.3% Net trading income 146 170 (14.1%) 316 368 (14.1%) Total income 322 368 (12.5%) 690 739 (6.
Slide 30: Corporate & Investment Banking Financials
Corporate & Investment Banking Financials 2Q10 1Q10 1H10 1H09 (RM ’mil) Q-o-Q Y-o-Y (FRS 139) (FRS 139) (FRS 139) (GP3) Net interest / financing income 189 221 (14.5%) 410 356 15.4% Fee & commission income 105 108 (2.8%) 213 210 1.3% Net trading income 25 20 25.0% 45 53 (15.1%) Brokerage income 80 7
Slide 31: Malaysian Market Shares (1H10)
Malaysian Market Shares (1H10) M&A Advisory** CIMB Express IPO Advisory# CIMB 20.6% RM18,566 mil CIMB 31.8% USD342 mil Public 11.8% RM10,652 mil Credit Suisse 11.2% USD121 mil Investment RHB 10.0% RM9,074 mil Goldman Sachs 11.1% USD120 mil investment UBS 9.2% RM8,318 mil UBS 9.3% USD100 mil Investme
Slide 32: Malaysian Market Shares (1H10)
Malaysian Market Shares (1H10) Domestic Bonds (RM) Domestic Sukuk (RM) CIMB 28.2% RM5,473 mil CIMB 35.4% RM5,473 mil AmInvestment 27.2% RM5,290 mil AmInvestment 23.0% RM5,290 mil RHB 12.8% RM2,490 mil Standard 10.9% RM2,490 mil Chartered HSBC 12.2% RM2,375 mil HSBC 9.6% RM2,375 mil Syndication CIMB
Slide 33: International Market Shares (1H10)
International Market Shares (1H10) ASEAN (Domestic Currency) CIMB Express Global Sukuk HSBC 12.8% USD2,574 mil HSBC 25.1% USD1,630 mil DBS 11.6% USD2,345 mil CIMB 21.7% USD1,409 mil Samba CIMB 9.9% USD2,000 mil 14.4% USD933 mil Financial Group AmInvestment 8.1% USD1,631 mil AmInvestment 10.3% USD669
Slide 34: Regional Market Share
Regional Market Share 1H09 1H10 1H09 1H10 Singapore Indonesia Market Market Market Market Rank Rank Rank Rank Share Share Share Share Stock Broking 8.3% 5 8.8% 3 Stock Broking 4.2% 4 6.3% 3 IPO 15.9% 3 8.2% 7 IPO 23.6% 1 16.7% 2 ECM 1.7% 12 5.7% 7 ECM 0.6% 7 8.5% 3 M&A* 3.0% 8 7.5% 3 M&A - - - - SGD
Slide 35: Notable Deals 2Q10
Notable Deals 2Q10 M&A DCM Fraser & Neave Holdings Bhd Proposed disposal of 100% stake in Malaya PT Bank Tabungan Pensiunan Nasional Glass Products Sdn Bhd IDR1.3 tril bonds USD222 mil PT Meadow Indonesia (Ultimate parent - Government of Malaysia CVC Capital Partners) USD1.25 bil Trust Certificates
Slide 36: Notable Deals launched in 3Q10
Notable Deals launched in 3Q10 M&A / Loans IPO Khazanah Nasional Berhad PT Bank Jabar Banten VGO of Parkway Holdings Limited IDR1,452 tril offering SGD3.5 bil Sunway REIT RM1,500 mil Measat Global Network Systems Sdn Bhd CapitaMalls Malaysia Trust VGO of MEASAT Global Berhad RM785 mil RM662 mil Bond
Slide 37: Asset Management & Insurance
CIMB GROUP : 1H10 RESULTS ASSET MANAGEMENT & INSURANCE
Slide 38: Group Asset Management & Insurance
Group Asset Management & Insurance PBT (after HOCA) 2Q10 1Q10 1H10 1H09 Q-o-Q Y-o-Y (RM ’mil) (FRS 139) (FRS 139) (FRS 139) (GP3) CIMB-P Group 11 13 (15.4%) 24 14 71.4% Wholesale 2 3 (33.3%) 5 7 (28.6%) Insurance 10 (12) n.a. (2) 53 n.a. Securities Services 5 4 18.3% 9 9 - Total 28 8 250.0% 36 83 (5
Slide 39: CIMB Niaga
CIMB GROUP : 1H10 RESULTS CIMB NIAGA
Slide 40: CIMB Niaga: Earnings Summary
CIMB Niaga: Earnings Summary 2Q10 1Q10 1H10 1H09 (IDR ’bil) Q-o-Q Y-o-Y (FRS 139) (FRS 139) (FRS 139) (GP3) Net Interest Income 1,865 1,665 12.0% 3,531 3,044 16.0% Non Interest Income 385 299 28.8% 683 636 7.4% Operating Income 2,250 1,964 14.6% 4,214 3,680 14.5% Overhead Expenses (981) (1,033) (5.0
Slide 41: CIMB Niaga: Balance Sheet Changes
CIMB Niaga : Balance Sheet Changes (IDR ’bil) 30th Jun 10 31st Mar 10 Q-o-Q 30th Jun 09 Y-o-Y Placements & Other MS 25,242 20,361 24.0% 13,188 91.4% Government Bonds 4,712 5,031 (6.3%) 9,505 (50.4%) Loans 88,388 80,732 9.5% 71,210 24.1% Other Assets 7,990 8,465 (5.6%) 8,243 (3.1%) Total Assets 126,3
Slide 42: Gross Loans Growth by Segment
Gross Loans Growth by Segment 30th Jun 10 31st Mar 10 30th Jun 09 Products / Divisions Q-o-Q Y-o-Y (IDR ’bil) (IDR ’bil) (IDR ’bil)* Retail Banking 28,334 25,918 9.3% 23,196 22.2% Credit Cards 1,578 1,405 12.3% 1,341 17.7% Auto Loans 11,526 10,073 14.4% 7,734 49.0% Mortgage 13,765 12,993 5.9% 12,485
Slide 43: CIMB Niaga: Key Ratios
CIMB Niaga : Key Ratios (Consolidated, %) 2Q10 1Q10 Q-o-Q 1H10 1H09 Y-o-Y ROE 20.2 18.3 10.1% 19.2 14.3 34.5% NIM 6.6 6.7 (1.0%) 6.7 6.5 2.7% Cost to Income 43.6 52.6 (17.2%) 47.8 50.0 (4.4%) Loan Loss Coverage*# 140.0 116.1 20.6% 140.0 96.3 45.3% Allowance Coverage* 85.5 82.0 4.1% 85.5 n/a n/a Loan
Slide 44: Corporate Updates
Corporate Updates CIMB Group competed acquisition of 19.67% of CIMB Niaga from Khazanah on 19 August with new issuance of 268,000,000 new CIMB Group shares Completed issuance of IDR1.38 tril subdebt on 9 July 2010 4.09% of Saseka Gelora Finance acquired from Indover Bank, rebranded to CIMB Nia
Slide 45: CIMB Thai
CIMB GROUP : 1H10 RESULTS CIMB Thai
Slide 46: CIMB Thai: Earnings Summary
CIMB Thai : Earnings Summary (Baht ’mil) 2Q10 1Q10 Q-o-Q 1H10 1H09 Y-o-Y (Before GAAP Adjustments) Net Interest Income 1,229 1,245 (1.3%) 2,474 2,251 9.9% Non Interest Income 573 560 2.3% 1,133 1,163 (2.6%) Operating Income 1,802 1,805 (0.2%) 3,607 3,414 5.6% Overhead Expenses (1,316) (1,317) (0.1%)
Slide 47: CIMB Thai: Balance Sheet Changes
CIMB Thai : Balance Sheet Changes (Baht ’mil) (Before GAAP 30th Jun 10 31st Mar 10 Q-o-Q 30th Jun 09 Y-o-Y Adjustments) Placements & Other MS 20,225 12,953 56.8% 40,683 (50.3%) Government Bonds (Net) 13,942 13,231 5.4% 11,758 18.6% Loans (Net) 83,835 79,915 4.9% 75,532 11.0% Other Assets 12,219 11,8
Slide 48: Loans Growth by Segment
Loans Growth by Segment 30th Jun 10 31st Mar 10 30th Jun 09 Products / Divisions Q-o-Q Y-o-Y (THB ’bil) (THB ’bil) (THB ’bil) Retail Banking 29.0 27.2 6.8% 26.3 10.3% Auto Loans 4.6 4.2 9.8% 3.8 23.4% Mortgage 18.4 16.6 10.9% 13.2 38.7% Personal / Others 6.0 6.4 (5.9%) 9.3 (35.3%) Corporate & Invest
Slide 49: CIMB Thai: Key Ratios
CIMB Thai : Key Ratios (Consolidated, %) 2Q10 1Q10 Q-o-Q 1H10 1H09 Y-o-Y ROE 17.3 17.0 1.8% 17.1 (15.3) n.a. NIM 4.53 4.57 (0.9%) 4.53 3.01 50.5% Cost to Income 73.0 73.0 - 73.0 86.2 (15.3%) Loan Loss Coverage** 69.6 66.4 4.8% 69.6 64.3 8.2% Loan Loss Coverage (GP8)** 78.5 79.2 (0.9%) 78.5 64.3 22.1
Slide 50: CIMB Thai… Heading in the Right Direction
CIMB Thai… Heading in the Right Direction Loans vs. Deposits (THB ’bil) Loan Yields and Deposit Costs Net Interest Margin LDR and CASA % 50
Slide 51: Corporate Updates
Corporate Updates 1. Status of branches affected by political riots in May 2010: 3. New innovative retail products launched: SME TraderPack. Lumpini Branch renovation completed with branch reopened on July 19. Siam Square’s new branch location determined. Branch renovation to be completed in Septemb
Slide 52: Other Highlights
CIMB GROUP : 1H10 RESULTS OTHER HIGHLIGHTS
Slide 53: CIMB Islamic – No. 2 by Assets in 5 years
CIMB Islamic – No. 2 by Assets in 5 years Ranking of Total Islamic Assets as at 31 Mac 2010 Ranking of Islamic Net Financing as at 31 Mac 2010 Market Market Total Assets Share Net Financing Share Rank Company Rank Company RM ’mil % RM ’mil % 1 MIBB 40,592 17 1 MIBB 31,391 18 2 CIMB Islamic 27,761 12
Slide 54: Bank of Yingkou
Bank of Yingkou 2Q10 1Q10 Q-o-Q 1H10 1H09 Y-o-Y Operating income (RMB ‘mil) 264 232 13.8% 496 386 28.5% Net profit (RMB ‘mil) 117 103 13.6% 220 176 25.0% ROE 21.7% 19.5% 11.3% 20.4% 29.5% (30.8%) PAT to CIMB Group 11.2 10.2 9.8% 21.4 5.7 275.4% (RM ‘mil) Gross NPL ratio 0.7% 0.7% - 0.7% 0.96% (27.1%
Slide 55: Termination of Bad Bank Sale
Termination of Bad Bank Sale SEASAM is the designated “Bad Bank” entity within the Group and had on 1 December 2009 acquired a NPL portfolio with a gross loan amount of RM8.4 billion and net book value of RM925 million from CIMB Bank The proposal to divest and deconsolidate SEASAM is aborted due
Slide 56: Key 2010 Priorities Update
Key 2010 Priorities Update Priorities Updates Regional ATM Link fully up in June 2010 – over 3,700 ATMs across MIST Advance regional value proposition Cross-border servicing available across all 100 Preferred Centres across MIST Increasing traction in cross-border deals and better market share
Slide 57: Touch 'n Go
Touch ‘n Go Quick-wins and synergy initiatives Convenient reloading, proliferate combi cards Mid-August Smart Ticketing – expansion of readers and kiosks for KTM and Rapid buses, secure ERL Q4 2010 Long Term Strategy Significant investment required for core system replacement, adoption of MLFF
Slide 58: 1View Update
1View Update • Implemented in multiple phases of a period of 3-4 years, • Projected to deliver a total additional financial benefit of RM301 mil over 5 years (for Malaysia only), • Investment of RM151 mil. With 1View, CIMB aims to: To drive: 58
Slide 59: 1Platform Update
1Platform Update • Implemented in phases across a period of 5 years • Thailand will be the 1st country of implementation, followed by Malaysia, Indonesia and Singapore • Investment of approximately RM1.1 bil With 1Platform, CIMB aims to: To drive: Deliver Common Capabilities Across the Vision of a U
Slide 60: Other Highlights
Other Highlights Free Touch ‘n Go reload at CIMB ATM Cross-border ATM facility linking over 3,700 ATMs across MIST Multi-currency ATM’s Launched CIMB Securities, the new brand for regional private clients and flagship branch at Tropicana City CIMB Bank (HK) closed CIMB Asia Pacific Class
Slide 61: Outlook
CIMB GROUP : 1H10 RESULTS OUTLOOK
Slide 62: Targets for 2010
Targets for 2010 1H10 Annualised 2010 Target On Track ROE 17.0% 16% 9 TSR +12.5% above KLCI > KLCI 9 Dividend 9.25 sen 9.25 sen 9 Gross loans growth 13.6% 12% 9 Group CASA growth 8.3% 18% r Loan loss charge 0.3% 0.6% 9 Tier 1 (at bank)* 14.2% 10% 9 RWCR (at bank)* 15.0% 12% 9 Note: * After proposed
Slide 63: Final Remarks
Final Remarks 2010 expected to be another good year for us Strong capital markets deal pipeline and consumer growth momentum ROE 2010 expected at 16.5% (excluding 20% CIMB Niaga acquisition) Maintain capital prudence due to Basel II and global banking reform provisioning… for now Now focus
Slide 64: Thank You
THANK YOU 64
CIMB Group Holdings Berhad — H1 2010 Earnings Presentation on 6ix