Cimb Group Holdings Bhd · MYX:CIMB
Cimb Group Holdings Bhd — FY2009 Earnings Presentation
64 slides from Cimb Group Holdings Bhd's earnings presentation, Feb 23, 2010
Slide 1: CIMB Group Holdings Berhad Full Year 2009 Results
CIMB GROUP HOLDINGS BERHAD FULL YEAR 2009 RESULTS Analyst Presentation 23 February 2010
Slide 2: Agenda
Agenda 1) Summary 2) CIMB Group FY09 Financials 3) Malaysian Consumer Bank 4) Treasury & Investment Banking 5) Asset Management & Insurance 6) CIMB Niaga 7) CIMB Thai 8) Other Highlights 9) Closing Remarks 2
Slide 3: Summary
CIMB GROUP : FY09 RESULTS SUMMARY
Slide 4: Key Messages
Key Messages • 4Q net profit at RM803 mil, up 10.5% QoQ and up 151.7% YoY • FY09 net profit at RM2,807 mil, up 43.8% YoY • FY09 ROE at 15.0% against target of 12.5% and revised target of 14-15% • FY09 net dividend of 18.5 sen per share as per target • We met/exceeded all key KPI targets for 2009 • S
Slide 5: Group's Key Highlights of 2009
Group’s Key Highlights of 2009 Strategic Consumer Banking CIMB Express • Recognised as a regional banking stock • Singapore retail banking • Completed CIMB Thai acquisition and launched transformation • Regionalised CIMB Preferred and cards • Niaga-Lippo systems integration completed • Transformatio
Slide 6: CIMB Group FY09 Financials
CIMB GROUP : FY09 RESULTS CIMB GROUP FY09 FINANCIALS
Slide 7: Earnings Summary
Earnings Summary (RM ’mil) 4Q09 3Q09 Q-o-Q FY09 FY08 Y-o-Y Net interest income 1,569 1,595 (1.6%) 6,069 4,661 30.2% Non interest income 1,211 1,192 1.6% 4,601 3,080 49.4% Operating income 2,780 2,787 (0.3%) 10,670 7,741 37.8% Loan provisions (203) (246) (17.5%) (1,023) (795) 28.7% - Specific (244) (
Slide 8: Quarterly Earnings Trend
Quarterly Earnings Trend 2,787 2,780 2,589 2,514 2,158 1,980 2,017 16.6% 16.2% 1,882 15.1% 15.4% 14.4% 13.6% 1,683 12.7% 11.4% 1,094 7.7% 1,001 947 839 879 739 749 803 727 650 614 663 535 572 486 448 448 319 4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 Operating income* PBT* Net profit* ROE** Notes:
Slide 9: Contribution by Entity
Contribution by Entity 4Q09 3Q09 FY09 FY08 Legal Entity RM ’mil % of PBT RM ’mil % of PBT RM ’mil % of PBT RM ’mil % of PBT CIMB Bank 331 30% 526 53% 2,078 55% 1,995 74% CIMB Niaga 229 21% 253 25% 787 21% 302 11% CIMB Thai 26 2% 50 5% 47 1% (41) (1%) CIMB Labuan 77 7% 52 5% 248 7% 49 2% CIMB Islamic
Slide 10: Contribution by Geography
Contribution by Geography 4Q09 3Q09 Others Thailand Others Thailand 6% 3% 3% 5% Indonesia 20% Indonesia 25% Malaysia Malaysia 71% 67% FY09 FY08 Others Thailand Others Thailand 5% 1% 1% -1% Indonesia 11% Indonesia 20% Malaysia Malaysia 74% 89% 10
Slide 11: Revenue By Segments
Revenue By Segments (RM ’mil) 4Q09 3Q09 Q-o-Q FY09 FY08 Y-o-Y Consumer Banking 934 899 3.9% 3,590 3,372 6.5% Corporate & Investment Banking 555 393 41.2% 1,697 1,650 2.8% Treasury & Investments 294 451 (34.8%) 1,680 1,225 37.1% GAM & Insurance 65 92 (29.3%) 311 162 92.0% CIMB Niaga 775 740 4.7% 2,68
Slide 12: Estimated PBT By Segment
Estimated PBT By Segment 4Q09 3Q09 Q-o-Q FY09 FY08 Y-o-Y PBT (after Head Office cost allocation) RM ’mil RM ’mil % RM ’mil RM ’mil % Consumer Banking - Good Bank 244 122 100.0% 612 419 46.1% - Bad Bank 42 24 75.0% 80 267 (70.0%) 286 146 95.9% 692 686 0.9% Corporate & Investment Banking 248 146 69.9%
Slide 13: Estimated PBT By Segment
Estimated PBT By Segment 4Q09 3Q09 CIMB Thai Consumer CIMB Thai 2% Banking 5% CIMB Niaga Consumer Banking 15% 21% 26% CIMB Niaga 25% Corporate & Inv GAM & Insurance Banking 1% 15% GAM & Treasury & Insurance Investments Treasury & Corporate & Inv 4% 36% Investments Banking 27% 23% FY09 FY08 CIMB Thai
Slide 14: Consolidated Balance Sheet Changes
Consolidated Balance Sheet Changes (RM ‘mil) 31st Dec 09 30th Sept 09 31st Dec 08 Q-o-Q Y-o-Y Cash & short term funds 28,729 20,473 24,409 40% 18% Securities purchased under resale agreements 4,545 4,090 3,311 11% 37% Deposits & placements with financial institutions 2,383 7,582 4,063 (69%) (41%) Se
Slide 15: AFS MTM Position
AFS MTM Position (RM ’mil) 545.6 518.2 459.1 370.0 370.0 Dec-08 Mar-09 Jun-09 Sep-09 Dec-09 15
Slide 16: Key Ratios
Key Ratios (%) 4Q09 3Q09 FY09 FY08 NIM 2.69 2.72 2.64 2.30 Fee income / total income 19.7 13.3 15.9 18.3 Non-interest income/ total income 43.6 42.8 43.1 39.8 Cost / income 55.3 51.6 53.6 53.2 Loan loss coverage 90.8 86.7 90.8 88.1 Loan loss charge 0.14 0.17 0.69 0.65 Gross NPL ratio 5.0 5.5 5.0 4.9
Slide 17: Gross Loans Growth
Gross Loans Growth 31st Dec 09 30th Sept 09 31st Dec 08 Products / Divisions Y-o-Y growth (RM ’bil) (RM ’bil) (RM ’bil) 21.5% Consumer Banking 70.2 67.5 62.0 13.2% RM148.9 bil Mortgages 29.0 27.5 24.2 20.1% RM122.5 bil HP 11.3 11.2 11.0* 3.4% OD and TL 11.4 10.7 9.2 23.3% Credit cards 3.0 2.8 2.7 13
Slide 18: Deposits Growth
Deposits Growth Divisions / 31st Dec 09 30th Sept 09 31st Dec 08 21.8% Y-o-Y Growth Products (RM ’bil) (RM ’bil) (RM ’bil) RM178.9 Retail 43.3 39.6 36.5 18.3%* bil RM146.9 - Current 7.3 5.2 4.3 69.8% bil - Savings 10.3 9.7 9.3 10.8% - Fixed & Dec 08 Dec 09 structured 25.7 24.7 22.9 11.7% deposits De
Slide 19: Asset Quality Ratios
Asset Quality Ratios Exclude 85.6% 92.2% 90.1% CIMB Thai 88.1% 96.2% 90.8% 78.5% 85.6% 86.8% 86.7% 75.8% 73.2% 70.4% 65.9% 61.5% 59.3% 57.5% 8.8% 9.1% 8.6% 7.9% 7.2% 7.1% 6.5% 6.1% 5.5% 5.5% 5.6% 5.6% 5.5% 5.1% 4.9% 5.0% Exclude 4.4% 3.8% CIMB Thai 3.6% 4.9% 5.0% 4.8% 4.4% 3.2% 3.0% 2.3% 2.5% 2.4% 2
Slide 20: Loan Assets
Loan Assets Dec 2009 Sept 2009 Singapore and Singapore and Others Others Thailand RM5.7 bil Thailand RM5.5 bil RM9.0 bil 4% RM8.6 bil 4% 6% 6% Indonesia Indonesia RM31.6 bil RM28.0 bil 21% 20% Malaysia Malaysia, RM102.3 bil RM101.1 bil 69% 70% Note: Others include overseas branches and Labuan 20
Slide 21: LLP and Gross NPL
LLP and Gross NPL LLP by Country Gross NPL by Country Total (RM) 302 mil 246 mil 203 mil Total (RM) 7,707 mil 7,867 mil 7,417 mil +97 +6 319 416 422 + 45 - 76 74 1,345 1,390 +8 1,314 + 70 667 737 + 189 - 11 8 926 82 64 - 52 - 45 - 569 19 + 168 - 75 39 114 207 5,376 5,324 - 87 4,755 + 55 106 51 - 113
Slide 22: FY09 Annualised Credit Charge by Country
FY09 Annualised Credit Charge by Country Others 1.53% Thailand 1.33% Indonesia 1.41% Malaysia 0.32% Note: Others include overseas branches and Labuan 22
Slide 23: Gearing and Double Leverage
Gearing and Double Leverage CIMBG 4Q09 3Q09 Further capital issues Timeline (RM ’mil) 1Q10 Investment in subsidiaries 15,037 15,037 Sale of office building at CIMB Thai Sale & leaseback of CIMB Bank External debt & borrowings 3,404 3,320 1Q10 branches Share capital 3,532 3,582 Proposed 1:1 bonus iss
Slide 24: CIMBG: Operating Expenses
CIMBG : Operating Expenses (RM ’mil) 4Q09 3Q09 Q-o-Q FY09 FY08 Y-o-Y Personnel 771 739 4.3% 2,831 1,969 43.8% Establishment 295 323 (8.7%) 1,206 873 38.1% Marketing 61 88 (30.7%) 314 306 2.6% Admin & General 411 289 42.2% 1,367 974 40.3% Total 1,538 1,439 6.9% 5,718 4,122 38.7% 24
Slide 25: Malaysian Consumer Bank
CIMB GROUP : FY09 RESULTS MALAYSIAN CONSUMER BANK
Slide 26: Consumer Bank: 4Q09 Financials
Consumer Bank : 4Q09 Financials (RM ’mil) 4Q09 3Q09 Q-o-Q FY09 FY08 Y-o-Y Net interest / financing income 704 708 (0.6%) 2,803 2,656 5.5% Non interest income 230 191 19.9% 787 716 9.9% Total income 934 899 3.8% 3,590 3,372 6.5% Overheads (direct + head office (707) (641) 10.3% (2,609) (2,294) 10.3%
Slide 27: Consumer Bank: Good Bank
Consumer Bank : Good Bank (RM ’mil) 4Q09 3Q09 Q-o-Q FY09 FY08 Y-o-Y Net interest / financing income 683 683 - 2,719 2,497 8.9% Non interest income 228 188 21.3% 780 715 9.1% Total income 911 871 4.6% 3,499 3,212 8.9% Overheads (direct + head office (649) (604) 7.5% (2,451) (2,155) 13.7% allocation)
Slide 28: Consumer Revenue & LLP Trend
Consumer Revenue & LLP Trend (RM ’mil) 191 229 181 175 192 188 184 157 163 678 702 694 697 708 704 629 654 623 163 128 123 117 115 110 78 79 (59) 4Q 07 1Q 08 2Q 08 3Q 08 4Q 08 1Q 09 2Q 09 3Q09 4Q09 Net interest / financing income Fee & commission income LLP 28
Slide 29: Malaysian Consumer Market Shares
Malaysian Consumer Market Shares Market shares 30th Sept 2009 30th Sept 2008 Ranking Mortgages – Residential 14.0% 12.4% 2 – Non-residential 13.3% 12.6% HP^ 9.5% 10.0% 4 Credit Cards – Loan base* 10.8% 10.5% 3 – Card Base* 10.5% 10.1% Retail Deposits# 9.6% 9.3% 3 SME Loan* 12.1% 11.8% 3 Notes: ^ Bas
Slide 30: Malaysian Retail Banking Indicators
Malaysian Retail Banking Indicators Retail Loans – Housing Loans and Business Premises Loans 1,200 Drop mainly due to festive Drop mainly due to softer Sales spiked due to various sales Sales slow down due to less seasons and shorter working property market and campaigns launched in 1Q09 sales campa
Slide 31: Malaysian Consumer Banking Indicators (2)
Malaysian Consumer Banking Indicators (2) HP Loan Base, Disbursement & Repayment (RM ’bil) Credit Card – Card Base (RM ’000) 11.3 1,155 11.3 11.2 11.2 11.2 1,142 1,113 1.0 1.0 1.0 1,102 1.0 1.0 0.9 1,074 0.8 0.7 0.7 0.7 4Q08 1Q09 2Q09 3Q09 4Q09 Loan Base Disbursement Repayment Dec-08 M ar-09 Jun-09
Slide 32: Singapore Retail Banking – Early indicators promising
Singapore Retail Banking – Early indicators promising Retail Deposits (SGD ’mil) Home Loan Acceptance (SGD ’mil) 1,280 203 872 591 107 473 89 63 101 - Dec-08 A ug-09 Sep-09 Oct-09 Dec-09 Dec-08 A ug-09 Sep-09 Oct-09 Dec-09 Retail Customer Base Credit Cards 10,630 12,264 Pre-launch Post-launch 7,443
Slide 33: Singapore Retail Banking – Product launches
Singapore Retail Banking – Product launches 33
Slide 34: Treasury & Investment Banking
CIMB GROUP : FY09 RESULTS TREASURY & INVESTMENT BANKING
Slide 35: Treasury and Investment Financials
Treasury and Investment Financials (RM ’mil) 4Q09 3Q09 Q-o-Q FY09 FY08 Y-o-Y Net interest / financing income 164 227 (27.8%) 759 507 49.7% Fee income 17 12 41.7% 32 15 113.3% Net trading income 63 89 (29.2%) 520 147 253.7% Total income 244 328 (25.6%) 1,311 669 96.0% Provision (23) (4) 475.0% (25) (
Slide 36: Corporate & Investment Banking Financials
Corporate & Investment Banking Financials (RM ’mil) 4Q09 3Q09 Q-o-Q FY09 FY08 Y-o-Y Net interest / financing income 226 194 16.8% 776 768 1.0% Fee & commission income 243 100 144.0% 567 468 21.3% Net trading income 18 21 (16.2%) 93 169 (44.9%) Brokerage income 67 79 (15.0%) 260 245 6.1% Total income
Slide 37: Malaysian Market Shares
Malaysian Market Shares M&A Advisory (’mil)** CIMB Primary Express Bond Market (’mil) AmInvestment 25.6% RM 9,235 CIMB 35.5% RM18,634 CIMB 16.9% RM 6,090 AmInvestment 18.7% RM9,829 Maybank 13.7% RM 4,954 RHB 13.2% RM6,936 OSK 5.2% RM 1,891 Maybank 12.4% RM6,516 Broking (’mil) ECM Deals (’mil) CIMB 9
Slide 38: Regional Market Shares
Regional Market Shares Singapore Indonesia • Rank 5 for stock broking, 8.2% market share • Rank 4 for stock broking, 4.2% market share • No. 1 advisor ranking for mid market M&A up to USD • Rank 2 for IPO, 24.5% market share 500mil in terms of number of deals, 1.7% market • Rank 11 for IDR bonds, 2.
Slide 39: Notable Deals 4Q09
Notable Deals 4Q09 Clients Details Debt Capital Markets Sime Darby: (i) RM4.5 bil IMTN Programme and (ii) a RM500 mil ICP/IMTN Programme Genting Bhd: RM1.6 bil MTN Programme Pengurusan Aset Air Bhd: RM20 bil ICP/MTN Programme PT Bank Tabungan Pensiunan Nasional: IDR700 bil fixed rate bonds PT Salim
Slide 40: Asset Management & Insurance
CIMB GROUP : FY09 RESULTS ASSET MANAGEMENT & INSURANCE
Slide 41: Group Asset Management & Insurance
Group Asset Management & Insurance PBT (after HOCA) 4Q09 3Q09 Q-o-Q FY09 FY08 Y-o-Y (RM ’mil) CIMB-P Group 14 9 50.1% 37 38 (1.8%) Wholesale 2 8 (77.3%) 17 7 128.2% Insurance (10) 23 (>100%) 66 (95) (169.5%) Total 6 40 (85.0%) 120 (50) >100% AUM (RM ’mil) • 36% Y-o-Y increase in total AUMs to RM26.1
Slide 42: CIMB Niaga
CIMB GROUP : FY09 RESULTS CIMB NIAGA
Slide 43: Earnings Summary
Earnings Summary (IDR ’bil) 4Q09 3Q09 Q-o-Q FY09 FY08 Y-o-Y Net Interest Income 1,538 1,629 (5.6%) 6,150 4,798 28.2% Non Interest Income 525 400 31.3% 1,516 1,437 5.5% Operating Income 2,063 2,029 1.7% 7,666 6,235 23.0% Overhead Expenses (960) (1,019) (5.8%) (3,757) (3,738) 0.5% Pre Provision Operat
Slide 44: Balance Sheet Changes
Balance Sheet Changes (IDR ’bil) 31st Dec 09 30th Sept 09 31st Dec 08 Q-o-Q Y-o-Y Placements & Other MS 11,028 10,513 12,290 4.9% (10.3%) Government Bonds 6,613 8,553 8,263 (22.7%) (20.0%) Loans 80,115 72,076 72,791 11.2% 10.1% Other Assets 9,348 9,944 9,854 (6.0%) (5.1%) Total Assets 107,104 101,08
Slide 45: Key Ratios
Key Ratios (Consolidated, %) 4Q09 3Q09 FY09 FY08 ROE 15.1 17.4 15.0 7.4 NIM 6.46** 6.28 6.02 4.87 Cost to Income 46.5 50.2 49.0 58.5 Loan Loss Coverage 108.5 96.7 108.5 87.6 Loan Loss Charge 0.6 0.3 1.5 0.9 Gross NPL ratio 3.0 2.8 3.0 2.5 Net NPL ratio 1.0 1.8 1.0 1.4 Loan to Deposit 95.1 90.2 95.1
Slide 46: Market Position
Market Position 5th largest in terms of assets (IDR ’tril)# 5th largest in terms of deposits (IDR ’tril)# 375 340 300 318 274 283 255 245 250 247 210 227 201 201 189 163 103 107 105 97 84 86 75 68 M andiri B RI B CA B NI CIM B Niaga Danamo n M andiri B RI B CA B NI CIM B Niaga Danamo n 2008 2009 200
Slide 47: New Products & Services in 2009
New Products & Services in 2009 In cooperation with Master Card, CIMB Niaga launched a corporate card with new security features Launched “Mikro Laju” – rebranding of CIMB Niaga’s micro finance arm Launched X-Tra Fixed Rate, a market-linked deposit product Launched KPR X-Tra Dinamis, a savings and m
Slide 48: CIMB Thai
CIMB GROUP : FY09 RESULTS CIMB Thai
Slide 49: Earnings Summary
Earnings Summary (Baht ’mil) 4Q09 3Q09 Q-o-Q FY09 (Before GAAP Adjustments) Net Interest Income 1,129 1,373 (17.8%) 4,757 Non Interest Income 425 542 (21.6%) 2,141 Operating Income 1,554 1,915 (18.9%) 6,898 Overhead Expenses 1,421 1,303 9.1% 5,682 Pre Provision Operating Profit 133 612 (78.3%) 1,216
Slide 50: Balance Sheet Changes
Balance Sheet Changes (Baht ’mil) 31st Dec 09 30th Sept 09 31st Dec 08 Q-o-Q Y-o-Y (Before GAAP Adjustments) Placements & Other MS 24,556 25,571 66,196 (4.0%) (62.9%) Government Bonds (Net) 11,529 11,117 22,691 3.7% (49.2%) Loans (Net) 78,299 73,307 83,657 6.8% (6.4%) Other Assets 26,020 16,250 41,5
Slide 51: Key Ratios
Key Ratios (Consolidated, %) 4Q09 3Q09 FY09 FY08 ROE 2.3 24.4 0.1 (67.9) NIM 3.39 3.44 2.82 2.86 Cost to Income 91.4 68.0 82.4 94.0 Loan Loss Coverage 62.2 60.8 62.2 66.1 Loan Loss Charge 0.4 0.8 1.4 2.5 Gross NPL ratio 14.9 16.6 14.9 10.8 Net NPL ratio 7.1 8.6 7.1 4.9 Loan to Deposit 97.3 83.9 97.3
Slide 52: Key Trends
Key Trends Loans vs. Deposits (THB ’bil) Loan Yields and Deposit Costs 166 161 160 156 147 144 7.8% 7.8% 8.0% 7.9% 7.5% 7.5% 7.1% 117 6.6% 97 88 98 98 95 3.5% 93 92 3.2% 85 84 86 2.9% 2.9% 3.0% 81 2.1% 1.4% 1.4% 4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 Gro
Slide 53: New Products and Services
New Products and Services Actual % of target BTAM Originated Products (Baht ’mil) achieved BT Treasury Daily (Cash Fund) 3,340 170% 101 Montri Property Fund 603 120% BT-FIF Gold Linked 5 Fund (Structured Note) 461 110% BT-FIX 6/1 (Local Corporate Bond Fund) 300 100% ASEAN Equity Fund 104 99% BT Auto
Slide 54: Other Highlights
CIMB GROUP : FY09 RESULTS OTHER HIGHLIGHTS
Slide 55: 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 Dec 09 Breakdown of Islamic Financing as at 31 Dec 09 Market Business Total Assets Share 8% Rank Company RM ’mil % Others 11% Corporate 1 MIBB* 35,107 15 42% 2 CIMB Islamic 27,785 12 3 Bank Islam 26,719 11 4 PBB-i 22,731
Slide 56: No.1 Global Islamic Investment Bank
No.1 Global Islamic Investment Bank FY09 Global Sukuk League Table FY09 Domestic Sukuk League Table Market Market Rank Company USD ’mil Share Rank Company MYR ’mil Share % % 1 CIMB 22 4,386 1 CIMB 16,453 43 2 HSBC 13 2,627 2 AmInvestment 4,465 12 3 AmInvestment 11 2,186 3 RHB 3,720 10 4 Maybank Inve
Slide 57: Bank of Yingkou
Bank of Yingkou 4Q09 3Q09 Q-o-Q FY09 Operating income (RMB ‘mil) 232 207 12.1% 825 Net profit (RMB ‘mil) 78 95 (17.9%) 350 ROE 17.0% 25.2% (32.5%) 23.0% Contribution to CIMB Group (RM ‘mil) 7.9 10.0 (21.0%) 23.6 Gross NPL ratio 0.8% 0.9% (11.1%) 0.8% Balance Sheet (RMB ’mil) 31st Dec 09 31st Dec 08
Slide 58: Notable Awards 2009
Notable Awards 2009 1 1 1 Best Domestic Bank Best Islamic Finance House Best Large Cap Corporate for Malaysia Best Domestic Equity House Deal of the Year - Maxis Best Top Executive in Malaysia - Best Domestic Debt House Best Malaysia Deal – Maxis Dato' Sri Nazir Razak Best Investor Relations 1 1 1 B
Slide 59: Closing Remarks
CIMB GROUP : FY09 RESULTS CLOSING REMARKS
Slide 60: Targets for 2009
Targets for 2009 FY09 2009 Target On Track ROE 15.0% > 12.5% 9 TSR 74% above KLCI > KLCI 9 Dividend 18.5 sen 18.5 sen (single tier) 9 Total loans growth* 14% 8% 9 Retail deposit# 18% 18 % 9 Loan loss charge 0.7% 0.9 % 9 Tier 1 (at bank) 15% 10% 9 RWCR (at bank) 15% 12% 9 Double leverage 119% 115% -
Slide 61: Key Priorities for 2010
10 Key Priorities for 2010 “Unify” CIMB Group Advance regional value proposition Improve regional investment banking market shares CASA accumulation, especially in Malaysia Refocus on SME business Regional transaction banking drive Implementation of 1View and 1Platform CIMB Niaga tra
Slide 62: New Targets for 2010
New Targets for 2010 2010 ROE (FRS 139) 16% TSR > FBM KLCI Dividend 18.5 sen Mortgage 20% Group loans growth 12% Credit card 10% CIMB Malaysia + Singapore 10% HP 10% CIMB Niaga 18% CIMB Thai 20% Xpress 75% Group CASA growth 18% Business 8% CIMB Malaysia + Singapore 15% Corporate 4% CIMB Niaga 21% CI
Slide 63: Final Remarks
Final Remarks • CIMB Group outperformed in 2009 and early momentum for 2010 is good • Significantly better economic climate across the region • Strong capital markets pipeline in Malaysia and Indonesia • Solid outlook for Malaysian consumer bank • “Post merger” growth for CIMB Niaga and positive con
Slide 64: Thank You
THANK YOU 64
CIMB Group Holdings Berhad — FY2009 Earnings Presentation on 6ix