Cimb Group Holdings Bhd · MYX:CIMB
Cimb Group Holdings Bhd — Q1 2025 Earnings Presentation
39 slides from Cimb Group Holdings Bhd's earnings presentation, May 30, 2025
Slide 1: Analyst Presentation 1Q25
Analyst Presentation 1Q25 CIMB Group Holdings 30 May 2025 MOVING FORWARD WITH YOU
Slide 2: GCEO Observations
GCEO Observations MOVING FORWARD WITH YOU 2
Slide 3: GCEO Observations: Resilient 1Q25 financial performance
GCEO Observations Resilient 1Q25 financial performance with 11.4% ROE • Net profit +9.6% QoQ and +1.9% YoY to RM2.0 bil • Assets, loans and deposits +5.1%*, +4.4%* and +2.7%* YoY respectively. NIM held steady at 2.16% despite rate cuts in TH, ID and SG, supported by a 4bps QoQ reduction in cost of f
Slide 4: CIMB is well-positioned to navigate current market uncertainties
CIMB is well-positioned to navigate current market uncertainties Optimised our sources of funding to navigate Low proportion of loans at risk NIM compression Bonds 9% 5% 6% 6% -3% <3% <0.4% Others1 10% 16% 16% 18% +8% STMMD 14% 13% 12% -3% Trade-related Customers with more 11% exposure than 20% reve
Slide 5: Forward 30: CIMB's 6 year strategic plan
Forward 30: CIMB’s 6 year strategic plan Purpose Advancing Customers and Society Society & Priorities People & Culture Customers Sustainability 1 Capital and resources: Reallocate and optimise Strategic 2 3 moves – Cash: Build deposit Cross-sell: Increase returns the 4Cs franchise 4 Capabilities: Si
Slide 6: Forward30 4Cs strategic moves update (1/2)
Forward30 4Cs strategic moves update (1/2) Capital Cash • Leadership changes • Successful reduction in cost of funds New Thailand and Cambodia CEOs to sharpen strategic direction 11bps 4bps Consolidated Singapore, Thailand and Cambodia under Growth markets to YoY QoQ sharpen strategic focus and driv
Slide 7: Forward30 4Cs strategic moves update (2/2)
Forward30 4Cs strategic moves update (2/2) Cross-sell Capabilities • Fee and commission income +6.9% +12.6% 46.9% YoY QoQ 1Q25 CIR vs 45.3% in 1Q24 • Treasury client sales +5.1% +18.9% YoY QoQ • Wealth AUM1 +5.0% YoY Tech spend +12.0% +5.5% YoY QoQ Note: 1Includes AUM from Preferred and Private Bank
Slide 8: GCFSO Observations
GCFSO Observations MOVING FORWARD WITH YOU 8
Slide 9: Key Highlights
Key Highlights Group NIM NOII/Total Income Cost-to-Income Profit Before Tax (RM) 2.16% 30.6% 46.9% 2,627 mil -3bps YoY -200bps YoY +160bps YoY +2.1% YoY = QoQ +220bps QoQ -240bps QoQ +11.2% QoQ ROE Gross Loans (RM) Loan Loss Charge CET1 11.4% 450.1 bil 26bps 14.7% = YoY +4.4% YoY* -9bps YoY -30bps Y
Slide 10: Key Business Highlights
Key Business Highlights 1Q25 vs 1Q24: Good underlying Strong growth QoQ from higher Improved sequential NIM in MY performance on constant fee and trading income and ID; offset by SG currency +3.2% QoQ -2.3% YoY (RM 'mil) Banking book NIM 5,629 5,328 5,499 Total Income 2.69% 2.72% 2.75% 2.66% 2.66% 3
Slide 11: PBT by Segment
PBT by Segment Consumer Commercial 30% 17% Banking Banking PBT QoQ ▲ YoY ▲ PBT QoQ ▼ YoY ▼ RM786 mil 67.6% 23.2% RM437 mil 18.8% 24.0% Strong Consumer performance attributed to good Commercial PBT was lower mainly due to absence asset quality coupled with fees growth in 1Q25 of writebacks and NIM he
Slide 12: PBT by Country
PBT by Country Malaysia 57% Indonesia 24% PBT QoQ ▲ YoY ▼ PBT QoQ ▲ YoY ▼ RM1,503 mil 14.5% 0.5% RM627 mil 4.3% 6.4% Strong Malaysia performance QoQ driven by strong PBT +4.3% QoQ from improved topline driven by liability management driving NIM expansion and NIM recovery; Challenging environment and
Slide 13: Net Interest Income
Net Interest Income Net Interest Margin* Country (%) 1Q25 4Q24 1Q24 2.19% 2.22% 2.23% 2.16% 2.16% Group 2.16 2.16 2.19 NIM Malaysia 1.79 1.77 1.74 Group Indonesia^ 3.99 3.88 4.20 2.69% 2.72% 2.75% 2.66% 2.66% Banking book Thailand^ 2.07 2.02 2.15 NIM Singapore 1.29 1.41 1.41 +0.1% QoQ +0.7% YoY Net
Slide 14: Non-Interest Income
Non-Interest Income NOII Breakdown (RM ’mil) 1Q25 QoQ YoY Total NOII Trading & FX Fee & commission 724 12.6% 6.9% +11.1% QoQ +17.2% QoQ 1,680 928 1,512 792 Trading & FX 928 17.2% (6.8%) 752 431 720 374 Others 28 (63.6%) (82.9%) 792 928 418 497 Total 1,680 11.1% (8.5%) 4Q24 1Q25 4Q24 1Q25 -8.5% YoY -
Slide 15: Operating Expenses
Operating Expenses Total Costs (RM 'mil) 1Q25 QoQ YoY (RM ‘mil) Personnel 1,589 4.0% 1.2% 48.6% Establishment 192 (10.7%) (6.3%) CIR 46.5% 46.9% 46.7% 46.9% Technology 442 (3.1%) 5.0% Marketing 92 (38.3%) 17.9% Admin & General 265 (4.0%) (4.7%) Total 2,580 (1.7%) 1.1% 9,865 10,420 Maintained overall
Slide 16: Asset Quality
Asset Quality Total Provisions Breakdown Loan Loss Charge* (RM ‘mil) Retail (bps) Non-Retail 503 359 35 28 311 Recoveries and 20 26 18 write-offs 508 507 343 228 210 271 (233) (303) (358) Allowance Coverage 1Q24 4Q24 1Q25 (%) 102.6 105.3 101.0 101.2 102.4 New overlay of RM100 mil in 1Q25 related to
Slide 17: Gross Loans
Gross Loans Others (RM 'bil) 31 Mar-25 QoQ YoY Singapore 6% 11% Consumer Banking 237.8 0.5% 2.9% Thailand # Commercial Banking 76.0 0.3% 5.0% 8% 31 Mar-25 RM450.1 bil Wholesale Banking 133.5 (2.5%) (2.0%) Malaysia Indonesia 61% CIMB Digital Assets and Others 2.8 (6.7%) 12.0% 14% Total 450.1 (0.5%) 1
Slide 18: Deposits
Deposits Others Singapore 2% (RM 'bil) 31 Mar-25 QoQ YoY 14% Thailand Consumer Banking 227.9 0.6% 0.9% 7% Commercial Banking 91.9 (3.6%) 0.5% 31 Mar-25 RM506.4 bil Wholesale Banking 180.6 (2.7%) (2.8%) Indonesia Malaysia 14% 63% CIMB Digital Assets and Others 6.0 25.0% 106.9% Total 506.4 (1.2%) 0.1%
Slide 19: Capital and Liquidity Management
Capital and Liquidity Management Capital Adequacy Liquidity Coverage Ratios 18.6% 18.3% (%) Mar-25 Dec-24 Mar-24 18.3% 3.0% 3.0% 3.0% CIMB Bank* 147 133 135 Tier 2 0.6% 0.6% 0.6% CIMB Islamic* 131 135 131 Tier 1 CIMB Niaga 206 213 263 CET1 15.0% 14.6% 14.7% CIMB Thai 172 199 157 Mar-24 ^ Dec-24 ~ Ma
Slide 20: Consumer Banking
Consumer Banking (RM 'mil) 1Q25 QoQ YoY Operating income 2,272 4.0% (1.4%) 1Q25 Consumer Banking PBT grew positively QoQ and YoY driven by cost Overhead expenses (1,272) (5.8%) (1.0%) containment and strong asset quality PPOP 1,000 19.9% (1.9%) (Provisions) / Writeback (215) (41.4%) (43.7%) Steady t
Slide 21: Commercial Banking
Commercial Banking (RM 'mil) 1Q25 QoQ YoY Operating income 1,005 (2.8%) (1.2%) PBT declined 18.8% QoQ and 24.0% YoY mainly from the absence of writebacks Overhead expenses (521) (5.1%) 3.0% PPOP 484 (0.2%) (5.3%) NII -2.5% QoQ and -1.2% YoY due to lower (Provisions) / Writeback (47) 188.7% 173.4% NI
Slide 22: Wholesale Banking
Wholesale Banking (RM 'mil) 1Q25 QoQ YoY Operating income 1,543 7.8% (5.4%) Overhead expenses (587) (6.8%) (2.3%) PPOP 956 19.4% (7.2%) Wholesale PBT +21.6% QoQ contributed by (Provisions) / Writeback 79 (58.0%) (319.4%) strong Treasury & Markets performance Share of JV / Associates - - - PBT 1,035
Slide 23: CIMB Digital Assets & Group Funding
CIMB Digital Assets & Group Funding (RM 'mil) 1Q25 QoQ YoY 1Q25 PBT +0.8% YoY with improved Operating income 679 0.1% 0.3% performance from TNGD and lower Overhead expenses (200) 112.8% 25.0% provisions. This was partially offset by weaker performance from CIMB Philippines PPOP 479 (18.0%) (7.4%) (P
Slide 24: CIMB Islamic
CIMB Islamic (RM 'mil) 1Q25 QoQ YoY Operating income 1,117 1.1% 6.0% 1Q25 PBT grew 2.2% YoY from sustained Overhead expenses (385) 6.2% 10.5% asset growth and NOFI; weaker QoQ PBT due to higher opex PPOP 732 (1.5%) 3.8% (Provisions) / Writeback (169) 5.8% 9.9% NFI +4.9% YoY driven by higher financin
Slide 25: 2025 Outlook
2025 Outlook • Committed to being a trusted partner for our customers during these uncertain times, focused on delivering value FY25 1Q25 Guidance • Disciplined in executing Forward30 as we navigate an evolving macro environment, confident in achieving short- term and long-term targets through the s
Slide 26: Thank you
Thank you
Slide 27: Appendices
Appendices
Slide 28: Earnings Summary
Earnings Summary (RM ’mil) 1Q25 4Q24 QoQ 1Q25 1Q24 YoY Net interest income 3,819 3,816 0.1% 3,819 3,792 0.7% Non interest income 1,680 1,512 11.1% 1,680 1,837 (8.5%) Operating income 5,499 5,328 3.2% 5,499 5,629 (2.3%) Overhead expenses (2,580) (2,624) (1.7%) (2,580) (2,552) 1.1% PPOP 2,919 2,704 8.
Slide 29: Key Ratios
Key Ratios (%) 1Q25 4Q24 QoQ 1Q24 YoY ROE ~ 11.4 10.6 ▲ 11.4 = NIM ~* 2.16 2.16 = 2.19 ▼ NIM banking book ~* 2.66 2.67 ▼ 2.70 ▼ Non-interest income / total income 30.6 28.4 ▲ 32.6 ▼ Cost to income 46.9 49.3 ▼ 45.3 ▲ Allowance coverage (including regulatory reserve) 122.1 123.8 ▼ 111.3 ▲ Allowance co
Slide 30: NOII breakdown
NOII breakdown (RM ’mil) 1Q25 4Q24 QoQ 1Q24 YoY Fee & commission 724 643 12.6% 677 6.9% Brokerage 10 11 (9.1%) 8 25.0% Asset management and security services 5 4 25.0% 5 0.0% Trading & FX 928 792 17.2% 996 (6.8%) Dividend income 12 12 0.0% 9 33.3% Other income 1 50 (98.0%) 142 (99.3%) Total 1,680 1,
Slide 31: PBT by Segments
PBT by Segments PBT (RM ’mil) 1Q25 4Q24 QoQ 1Q24 YoY Consumer Banking (29.9%) 786 469 67.6% 638 23.2% Commercial Banking (16.6%) 437 538 (18.8%) 575 (24.0%) Wholesale Banking (39.4%) 1,035 851 21.6% 994 4.1% Corporate Banking (20.5%) 537 472 13.8% 583 (7.9%) Treasury & Markets ~ (17.8%) 468 294 59.2
Slide 32: PBT by Segment and Country
PBT by Segment and Country Consumer Banking 1Q25 4Q24 QoQ 1Q24 YoY Malaysia (RM ’mil) 493 260 89.6% 381 29.4% Indonesia (IDR ’bil) 819 724 13.1% 685 19.6% Thailand (THB ’mil) 219 148 48.0% 31 606.5% Singapore (SGD ’mil) 9 2 350.0% 10 (10.0%) Others * (RM ’mil) 11 8 37.5% 10 10.0% PBT (RM ’mil) 786 4
Slide 33: Consumer Banking Key Highlights
Consumer Banking Key Highlights Malaysia QoQ YoY Indonesia ^ QoQ YoY Consumer Gross Loans 0.4% 4.4% Consumer Gross Loans 1.5% 5.5% Mortgages 0.7% 5.1% Mortgages (0.1%) (2.7%) Wealth (3.5%) (7.5%) Auto 6.1% 27.9% Auto 0.9% 4.5% Credit cards (2.1%) 3.3% Credit cards 0.1% 8.9% Consumer Deposits 1.7% (1
Slide 34: CIMB Niaga: Earnings Summary
CIMB Niaga: Earnings Summary (IDR 'bil) 1Q25 4Q24 QoQ 1Q25 1Q24 YoY Net interest income 3,319 3,259 1.8% 3,319 3,285 1.0% Non interest income 1,423 1,275 11.7% 1,423 1,515 (6.0%) Operating income 4,742 4,533 4.6% 4,742 4,800 (1.2%) Overhead expenses (2,183) (2,108) 3.5% (2,183) (2,135) 2.2% PPOP 2,5
Slide 35: CIMB Niaga: Key Ratios
CIMB Niaga: Key Ratios (Consolidated, %) 1Q25 4Q24 QoQ 1Q25 1Q24 YoY ROE ^ 14.0 13.6 ▲ 14.0 14.4 ▼ NIM ^ 3.99 3.88 ▲ 3.99 4.20 ▼ Cost to Income 46.0 46.5 ▼ 46.0 44.5 ▲ Loan Loss Coverage # 249.7 270.0 ▼ 249.7 257.4 ▼ Allowance Coverage 109.9 115.3 ▼ 109.9 113.5 ▼ Loan Loss Charge ^ 0.5 0.8 ▼ 0.5 0.8
Slide 36: CIMB Thai: Earnings Summary
CIMB Thai: Earnings Summary Before GAAP Adjustments 1Q25 4Q24 QoQ 1Q25 1Q24 YoY (THB 'mil) Net interest income 2,199 2,224 (1.2%) 2,199 2,317 (5.1%) Non interest income 1,385 2,082 (33.5%) 1,385 1,189 16.5% Operating income 3,584 4,306 (16.8%) 3,584 3,506 2.2% Overhead expenses (1,707) (2,273) (24.9
Slide 37: CIMB Thai: Key Ratios
CIMB Thai: Key Ratios (Consolidated, %) 1Q25 4Q24 QoQ 1Q25 1Q24 YoY ROE ^ 6.7 7.7 ▼ 6.7 5.9 ▲ NIM ^ 2.07 2.02 ▲ 2.07 2.15 ▼ Cost to Income 47.6 52.8 ▼ 47.6 62.5 ▼ Loan Loss Coverage ** 134.3 137.9 ▼ 134.3 121.3 ▲ Loan Loss Charge ^ 1.4 1.3 ▲ 1.4 0.8 ▲ Gross NPL ratio ** 2.8 2.6 ▲ 2.8 3.4 ▼ ROA 0.6 0
Slide 38: IB Market Share and Ranking (1)
IB Market Share and Ranking (1) 1Q25 1Q24 1Q25 1Q24 Market Market Market Market Rank Rank Rank Rank Share Share Share Share DCM Domestic 25.7% 2 27.4% 2 DCM 5.4% 9 5.4% 8 Sukuk 26.6% 2 36.9% 1 M&A 63.3% 2 - - M&A - - 36.0% 2 Syndication ^ - - 14.8% 4 Syndication ^ 4.9% 8 0.6% 23 IPO - - 11.8% 2 IPO
Slide 39: IB Market Share and Ranking (2)
IB Market Share and Ranking (2) 1Q25 1Q24 1Q25 1Q24 Asia ASEAN Market Market Market Market Rank Rank (ex-Japan) * Rank Rank Share Share Share Share DCM 13.1% 1 11.8% 2 DCM 0.6% 54 0.5% 55 M&A 10.6% 9 8.9% 10 M&A 2.2% 23 2.0% 18 Syndication ^ 3.2% 8 2.4% 13 Syndication ^ 1.4% 19 0.5% 45 IPO 8.8% 3 4.