Cimb Group Holdings Bhd · MYX:CIMB
Cimb Group Holdings Bhd — Q1 2014 Earnings Presentation
65 slides from Cimb Group Holdings Bhd's earnings presentation, May 22, 2014
Slide 1: Analyst Presentation 1Q14 Results
Analyst Presentation 1Q14 Results 22 May 2014
Slide 2: Agenda
Agenda 1. Key Highlights 2. CIMB Group 1Q14 Financials 3. PBT by Segment 3.1 Regional Consumer Banking 3.2 Regional Wholesale Banking 3.3 Investments 4. Country Analysis 5. Other Highlights 6. Financial Targets 7. Final Remarks 2
Slide 3: 1. Key Highlights
CIMB Group : 1Q14 Results 1. Key Highlights
Slide 4: 1Q14 Highlights
1Q14 Highlights ROE of 13.0% vs 13.5-14.0% target Net profit +4.4% Y-o-Y, excluding gains from the sale of CIMB Aviva and restructuring charges in 1Q13 Reduction in operating expenses Y-o-Y and Q-o-Q Strong gross loans growth of +12.4% Y-o-Y (+14.0% excluding forex), credit costs benign NIM defended
Slide 5: Key Financial Highlights (1)
Key Financial Highlights (1) Operating Income Net Profit +3.1% Actual: -10.3% Y-o-Y Y-o-Y* +4.4% Actual: -23.1% Y-o-Y Y-o-Y** 1Q14 1Q13** 1Q14 1Q13* RM1,021 mil RM1,066 mil RM3,538mil RM3,430 mil ROE Cost to Income -110bps Actual: -600bps Y-o-Y Y-o-Y** -210bps Actual: +50bps Y-o-Y Y-o-Y** 1Q13** 1Q1
Slide 6: Key Financial Highlights (2)
Key Financial Highlights (2) Gross Loans Deposits +12.4% Y-o-Y Excluding FX fluctuations: +14.0% Y-o-Y Flat Y-o-Y Excluding FX fluctuations: +1.8% Y-o-Y 1Q14 1Q14 1Q13 1Q13 RM237.2 bil RM264.8 bil RM264.8 bil RM211.0 bil NIM Gross Impaired Loans Ratio -3bps Y-o-Y -70bps Y-o-Y 1Q13 1Q13 1Q14 2.88% 1Q
Slide 7: PBT By Division
PBT By Division 70% Contribution from Consumer and Corporate Banking 1Q14 1Q13* Investment Investment Banking Banking Investments 1% Investments 4% 10% 10% Treasury & Consumer Markets Consumer Treasury & Banking 19% Banking Markets 39% 41% 21% Corporate Corporate Banking Banking 29% 26% 1Q14 PBT Y-o
Slide 8: PBT By Country
PBT By Country Singapore Rising 1Q14* 1Q13*~ Singapore Others Singapore Others 5% 0% Thailand 3% Thailand 0% 5% 5% Indonesia Indonesia 28% 31% Malaysia Malaysia 62% 61% 1Q14 PBT Y-o-Y Growth by Key Countries *~ ^ -0.6% -9.9% +8.5% +60.5% * Excluding HQ costs, which mainly comprises funding costs ~ E
Slide 9: 2. CIMB Group 1Q14 Financials
CIMB Group : 1Q14 Results 2. CIMB Group 1Q14 Financials
Slide 10: Quarterly Earnings Trend
Quarterly Earnings Trend Private Placement 19.0% 16.8% 16.8% 15.6% 15.5% 14.0% 14.1% 13.8% 13.0% 3,945 3,797 3,544 3,445 3,485 3,538 3,326 3,369 3,256 1,718 1,470 1,496 1,387 1,386 1,431 1,341 1,371 1,386 1,358 1,109 1,143 1,082 1,054 1,062 1,066 1,011 1,038 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1
Slide 11: Earnings Summary
Earnings Summary 1Q13 Y-o-Y (RM ’mil) 1Q14 1Q13 4Q13 Q-o-Q BAU* BAU Net interest income 2,403 2,261 2,261 6.3% 2,402 0.0% Non interest income 1,135 1,684 1,169 (2.9%) 1,395 (18.6%) Operating income 3,538 3,945 3,430 3.1% 3,797 (6.8%) Overhead expenses (2,011) (2,219) (2,019) (0.4%) (2,137) (5.9%) PP
Slide 12: Key Ratios
Key Ratios (%) 1Q14 1Q13 Y-o-Y 4Q13 Q-o-Q ROE ^ 13.0 19.0 13.8 NIM ^** 2.85 2.88 2.80 Non-interest income / total income 32.1 42.7 36.7 Cost to income 56.8 56.3 56.3 Allowance coverage 83.8 82.3 84.8 Allowance coverage after regulatory reserve # 108.4 97.9 108.3 Loan loss charge ^ 0.19 0.15 0.53 Gro
Slide 13: Operating Expenses
Operating Expenses (RM ’mil) 1Q14 1Q13 Y-o-Y 4Q13 Q-o-Q Personnel 1,136 1,211 (6.2%) 1,302 (12.7%) Establishment 470 456 3.1% 470 - Marketing 86 88 (2.3%) 100 (14.0%) Admin & General 319 464 (31.3%) 265 20.4% Total 2,011 2,219 (9.4%) 2,137 (5.9%) Total excluding One-off Cost Items 2,011 2,019 1 (0.4
Slide 14: Gross Loans Growth
Gross Loans Growth Loans by Country as at 31 Mar 14 # Divisions / Products (RM ‘bil) 31 Mar 14 31 Mar 13 Y-o-Y 31 Dec 13 Q-o-Q Others Singapore 4% Retail Financial Services (50.8%) 120.5 106.8 12.8% 116.8 3.2% 8% Thailand Mortgages 57.5 52.2 10.2% 55.7 3.2% 8% Term Loans 26.5 21.3 24.4% 25.7 3.1% Ma
Slide 15: Deposits Growth
Deposits Growth Deposits by Country as at 31 Mar 14 Divisions / Products (RM ‘bil) 31 Mar 14 31 Mar 13 Y-o-Y 31 Dec 13 Q-o-Q Others Singapore 5% Retail Financial Services (40.7%) 107.7 102.7 4.9% 103.6 4.0% 9% Thailand Current 18.2 15.7 15.9% 17.8 2.2% 6% Savings 30.4 29.2 4.1% 28.7 5.9% Fixed & Str
Slide 16: CASA Growth
CASA Growth CASA by Country as at 31 Mar 14 Country (RM ‘bil) 31 Mar 14 31 Mar 13 Y-o-Y 31 Dec 13 Q-o-Q Singapore Others Malaysia 57.1 51.6 10.7% 55.7 2.5% 1% 11% Indonesia ** 20.8 24.7 (15.8%) 19.5 6.7% Thailand 5% Thailand 4.3 4.3 - 4.3 - Singapore 10.7 7.9 35.4% 10.0 7.0% Indonesia 22% Malaysia O
Slide 17: AFS MTM (Q-o-Q) Position
AFS MTM (Q-o-Q) Position 692.1 291.3 (15.6) (42.7) (66.5) Mar-13 Jun-13 Sep-13 Dec-13 Mar-14 17
Slide 18: Capital Management – CIMB Group
Capital Management – CIMB Group 2014 Minimum Regulatory # Requirements 14.8% 14.1% 14.0% 13.7% ^ Total Capital 8.0% # ^ 11.1% 10.3% 10.0% 9.7% Tier 1 5.5% # 8.4% ^ 9.6% 8.2% 8.0% Core Equity Tier 1 4.0% Jun-13 Sep-13 Dec-13 Mar-14 Post FY13 Second Interim Dividend of 10.33 sen and DRS take-up of 82.
Slide 19: 3. PBT by Segment
CIMB Group : 1Q14 Results 3. PBT by Segment
Slide 20: PBT by Segment (Estimated)
PBT by Segment (Estimated) PBT (RM ’mil) 1Q14 1Q13 Y-o-Y 4Q13 Q-o-Q Consumer Banking (41.3%) 592 542 9.2% 523 13.2% Malaysia (31.2%) 447 384 16.4% 416 7.5% Indonesia (8.3%) 119 153 (22.2%) 119 - Thailand (0.6%) 8 4 100.0% (15) n.a. Singapore (1.0%) 15 2 650.0% 2 650.0% Others (0.2%) 3 (1) n.a. 1 200
Slide 21: 3.1 Regional Consumer Banking
CIMB Group : 1Q14 Results 3.1 Regional Consumer Banking
Slide 22: Malaysia : Consumer Gross Loans and Deposits
Malaysia : Consumer Gross Loans and Deposits Consumer Gross Loans (RM ‘bil) 31 Mar 14 31 Mar 13 Y-o-Y 31 Dec 13 Q-o-Q Retail Financial Services (89.2%) 92.4 80.9 14.2% 90.2 2.4% Mortgages 43.2 39.2 10.2% 42.4 1.9% Term loans 23.9 19.3 23.8% 23.0 3.9% Auto 12.7 11.7 8.5% 12.6 0.8% Credit cards 4.2 3.
Slide 23: Malaysia : Consumer Key Highlights (1)
Malaysia : Consumer Key Highlights (1) Mar-14 Mar-13 Mortgages – Loan Base Mkt Mkt RM ‘bil Rank* Rank Share Share ASB Financing 26.3% * 2 22.8% 3 +10.2% Y-o-Y Retail CASA 12.0% 3 12.0% 3 +1.9% Q-o-Q Auto 7.8% 5 7.5% 5 43.2 42.4 Residential 12.5% 3 12.9% 3 39.2 Mortgages Non-Residential 10.8% 3 10.7%
Slide 24: Malaysia : Consumer Key Highlights (2)
Malaysia : Consumer Key Highlights (2) Credit Cards Debit Cards RM ‘bil RM ‘mil 2.5 3.4 3.8 3.6 2.3 1.6 +123.2% Y-o-Y +10.5% Y-o-Y +11.5% Q-o-Q -2.3% Q-o-Q 437.8 4.3 4.2 392.6 3.8 196.1 Mar-13 Dec-13 Mar-14 Mar-13 Dec-13 Mar-14 Loan Base Quarterly Spending Quarterly Spending Cards Base Wealth Manage
Slide 25: Indonesia : Consumer Gross Loans and Deposits
Indonesia : Consumer Gross Loans and Deposits Consumer Gross Loans (IDR ’bil) 31 Mar 14 31 Mar 13 Y-o-Y 31 Dec 13 Q-o-Q Retail Financial Services (41.9%) 47,382 45,090 5.1% 47,879 (1.0%) Mortgage 22,141 21,160 4.6% 22,409 (1.0%) Auto 17,995 18,000 0.0% 18,353 (2.0%) Credit Cards 4,124 3,511 17.5% 4,
Slide 26: Indonesia : Consumer Key Highlights
Indonesia : Consumer Key Highlights Mar-14 ^ Mar-13 Consumer CASA Mkt Mkt IDR ‘tril Rank Rank Share Share +9.2 Y-o-Y Deposits 4.5% 5 5.2% 5 +0.6% Q-o-Q 61.0 61.4 56.2 Mortgages 7.8% 5 9.1% 5 Credit Cards* 10.9% 4 10.5% 5 Mar-13 Dec-13 Mar-14 Mortgage – Loan Base Credit Card – Loan Base IDR ‘tril IDR
Slide 27: Thailand : Consumer Gross Loans and Deposits
Thailand : Consumer Gross Loans and Deposits Consumer Gross Loans (THB ‘bil) 31 Mar 14 31 Mar 13 Y-o-Y 31 Dec 13 Q-o-Q Retail Financial Services (62.5%) 73.3 52.8 38.8% 68.8 6.5% Mortgage 45.8 33.2 38.1% 42.7 7.4% Auto Loans 18.1 13.0 39.4% 16.9 6.6% Personal / Others 9.4 6.6 40.8% 9.2 2.0% Commerci
Slide 28: Thailand : Consumer Key Highlights
Thailand : Consumer Key Highlights Mar-14 Mar-13 Housing Loans Mkt Mkt THB ‘bil Rank Rank Share Share +43.2% Y-o-Y Deposits 1.5% 10 1.4% 11 +8.4% Q-o-Q 38.7 Mortgages* 2.1% 9 1.8% 9 35.7 27.0 Auto 1.0% 9 0.7% 9 SME Loans 2.1% 7 1.9% 7 Mar-13 Dec-13 Mar-14 Consumer Deposits Consumer Loans THB ‘bil TH
Slide 29: Singapore : Consumer Gross Loans and Deposits
Singapore : Consumer Gross Loans and Deposits Consumer Gross Loans (SGD ’mil) 31 Mar 14 31 Mar 13 Y-o-Y 31 Dec 13 Q-o-Q Retail Financial Services (43.5%) 2,236 1,810 23.5% 2,100 6.5% Mortgages 1,541 1,380 11.7% 1,463 5.3% Term loans 176 147 19.7% 158 11.4% Credit cards 399 271 47.2% 386 3.4% Others
Slide 30: Singapore : Consumer Key Highlights
Singapore : Consumer Key Highlights Consumer PBT Consumer Deposits SGD ‘mil SGD ‘mil +500.0% Y-o-Y +52.9% Y-o-Y +500.0 Q-o-Q 6 +10.3% Q-o-Q 6,643 6,024 4,345 1,891 2,156 1,031 1 1 4,133 4,487 3,314 1Q13 4Q13 1Q14 Mar-13 Dec-13 Mar-14 Retail deposits Commercial deposits Retail Loan Base Commercial Lo
Slide 31: Consumer Banking Strategy
Consumer Banking Strategy Malaysia Breakthrough in digital banking, differentiated customer experience, increase share of wallet, focus on fee income, targeted balance sheet growth Manage costs Indonesia Enhance digitalisation to drive CASA growth, continuous product innovation, improve credit turn
Slide 32: New Products & Initiatives
New Products & Initiatives Malaysia CIMB Kwik Campaign FIFA Visa Campaign Preferred Visa Infinite-i Transact in Google Use CIMB Visa Cards Enjoy preferential Play/iTunes & get free apps & win a chance to treatment/rates/bonus & cash rebates watch World Cup live points& airport lounge in Brazil
Slide 33: 3.2 Regional Wholesale Banking
CIMB Group : 1Q14 Results 3.2 Regional Wholesale Banking
Slide 34: Wholesale Banking
Wholesale Banking (RM ’mil) 1Q14 1Q13 Y-o-Y 4Q13 Q-o-Q Net interest income 700 703 (0.4%) 725 (3.4%) Non interest income 624 574 8.7% 640 (2.5%) Operating income 1,324 1,277 3.7% 1,365 (3.0%) Overhead expenses (645) (556) 16.0% (573) 12.6% PPOP 679 721 (5.8%) 792 (14.3%) (Provisions) / Writeback 15
Slide 35: Wholesale Banking : Investment Banking
Wholesale Banking : Investment Banking (RM ’mil) 1Q14 1Q13 Y-o-Y 4Q13 Q-o-Q Net interest income 24 23 4.3% 26 (7.7%) Non interest income 279 252 10.7% 242 15.3% Operating income 303 275 10.2% 268 13.1% Overhead expenses (296) (221) 33.9% (219) 35.2% PPOP 7 54 (87.0%) 49 (85.7%) (Provisions) / Writeb
Slide 36: Wholesale Banking : Corporate Banking
Wholesale Banking : Corporate Banking (RM ’mil) 1Q14 1Q13 Y-o-Y 4Q13 Q-o-Q Net interest income 401 397 1.0% 417 (3.8%) Non interest income 205 174 17.8% 217 (5.5%) Operating income 606 571 6.1% 634 (4.4%) Overhead expenses (208) (204) 2.0% (210) (1.0%) PPOP 398 367 8.4% 424 (6.1%) (Provisions) / Wri
Slide 37: Corporate Banking : Gross Loans
Corporate Banking : Gross Loans Country 31 Mar 14 31 Mar 13 Y-o-Y 31 Dec 13 Q-o-Q Malaysia (RM ’bil) 42.6 41.8 2.0% 44.7 (4.8%) Indonesia (IDR ’bil) 47,744 42,370 12.7% 43,919 8.7% Thailand (THB ’bil) 50.7 50.0 1.3% 55.2 (8.2%) Singapore (SGD ’bil) 4.6 3.0 52.2% 4.5 3.2% Total Corporate Loans (RM ‘b
Slide 38: Corporate Banking : Deposits
Corporate Banking : Deposits Country 31 Mar 14 31 Mar 13 Y-o-Y 31 Dec 13 Q-o-Q Malaysia (RM ’bil) 86.0 90.1 (4.6%) 91.4 (5.9%) Indonesia (IDR ’bil) 32,833 43,507 (24.5%) 34,520 (4.9%) Thailand (THB ’bil) 41.7 41.4 0.5% 38.3 8.7% Singapore (SGD ’bil) 2.6 2.3 13.0% 2.9 (10.3%) Total Corporate Deposits
Slide 39: Wholesale Banking : Treasury & Markets
Wholesale Banking : Treasury & Markets (RM ’mil) 1Q14 1Q13 Y-o-Y 4Q13 Q-o-Q Net interest income 275 283 (2.8%) 282 (2.5%) Non interest income 140 148 (5.4%) 181 (22.7%) Operating income 415 431 (3.7%) 463 (10.4%) Overhead expenses (141) (131) 7.6% (144) (2.1%) PPOP 274 300 (8.7%) 319 (14.1%) (Provis
Slide 40: IB Market Share and Ranking (1)
IB Market Share and Ranking (1) 1Q14 1Q13 1Q14 1Q13 Market Market Market Market Rank Rank Rank Rank Share Share Share Share Cash Equities 11.4% 1 11.3% 1 Cash Equities 4.4% 7 6.4% 2 IPO - - 14.6% 2 IPO - - - - ECM 36.7% 1 13.2% 2 ECM - - - - EQL Products - - - - EQL Products - - - - M&A 29.5% 1 49.8
Slide 41: IB Market Share and Ranking (2)
IB Market Share and Ranking (2) 1Q14 1Q13 1Q14 1Q13 Market Market ASEAN Market Market Rank Rank Rank Rank Share Share Share Share Cash Equities 0.4% 48 0.2% 67 Cash Equities # 8.3% 6 7.0% 7 IPO 2.5% 10 3.9% 11 IPO 9.7% 1 1.0% 16 ECM 1.3% 22 0.3% 21 ECM 17.8% 1 6.0% 7 EQL Products - - - - EQL Product
Slide 42: Notable Deals
Notable Deals DCM M&A TNB Western Energy Berhad Sapurakencana Petroleum Berhad RM3.655 bil Sukuk USD898.0 mil acquisition of the entire issued and outstanding common shares of Newfield Malaysia Holding Inc. from Newfield International Holdings Inc. Export-Import Bank of Malaysia Berhad USD1.0 bil Mu
Slide 43: Group Asset Management
Group Asset Management PBT (RM ’mil) 1Q14 1Q13 Y-o-Y 4Q13 Q-o-Q CIMB-P Group 21.6 15.8 36.8% 12.3 75.3% Wholesale 3.8 4.2 (11.3%) 6.2 (39.0%) Total 25.3 20.0 26.6% 18.5 37.2% Asset Under Management Wholesale AUM as at 31 Mar 2014 RM ‘mil +21.7% Y-o-Y 53,600 CIMB Mapletree CapAsia 5,455 RM1,090 mil R
Slide 44: 3.3 Investments
CIMB Group : 1Q14 Results 3.3 Investments
Slide 45: Investments
Investments 1Q13 Y-o-Y (RM ’mil) 1Q14 1Q13 4Q13 Q-o-Q BAU* BAU Net interest income 205 119 119 72.3% 160 28.1% Non interest income 50 671 156 (67.9%) 293 (82.9%) Total income 255 790 275 (7.3%) 453 (43.7%) Overhead expenses (125) (409) (209) (40.2%) (330) (62.1%) PPOP 130 381 66 (97.0%) 123 5.7% (Pr
Slide 46: Strategic Investments
Strategic Investments RM ’mil 1Q14 1Q13 Y-o-Y 4Q13 Q-o-Q PAT to CIMB Group 33.1 16.7 98.2% 26.4 25.4% 1Q14 vs 1Q13: Higher PAT mainly from increase in loans outstanding and income from HTM fixed income investments 1Q14 vs 4Q13: Growth from higher income from HTM fixed income investments and lower op
Slide 47: 4. Country Analysis
CIMB Group : 1Q14 Results 4. Country Analysis
Slide 48: Indonesia : Holding Steady in 1Q
Indonesia : Holding Steady in 1Q CIMB Niaga PBT Asset Quality IDR ‘bil % +3.3 Y-o-Y 91.4% 80.8% 82.0% +0.5 Q-o-Q 1,473 1,481 1,433 3.2% 3.1% 2.8% 2.6% 2.4% 2.2% 1Q13 4Q13 1Q14 Mar-13 Dec-13 Mar-14 Gross Impairment Ratio Gross NPL Ratio Allowance Coverage Ratio Gross Loans NIM * IDR ‘tril % +9.5 Y-o-
Slide 49: CIMB Niaga : Earnings Summary
CIMB Niaga : Earnings Summary (IDR ’bil) 1Q14 1Q13 Y-o-Y 4Q13 Q-o-Q Net interest income 2,525 2,430 3.9% 2,609 (3.2%) Non interest income 855 837 2.2% 856 (0.1%) Operating income 3,380 3,267 3.5% 3,465 (2.5%) Overhead expenses (1,698) (1,548) 9.7% (1,634) 3.9% PPOP 1,682 1,719 (2.2%) 1,831 (8.1%) Pr
Slide 50: CIMB Niaga : Key Ratios
CIMB Niaga : Key Ratios (Consolidated, %) 1Q14 1Q13 Y-o-Y 4Q13 Q-o-Q ROE ^ 16.7 18.3 16.9 NIM ^ 5.22 5.14 5.38 Cost to Income 50.2 47.4 47.2 Loan Loss Coverage # 98.8 108.8 116.5 Allowance Coverage 82.0 91.4 80.8 Loan Loss Charge ^ 0.5 0.8 0.9 Gross Impaired Loans Ratio 3.1 2.8 3.2 Gross NPL (BI Def
Slide 51: Thailand : Banking Improving; Securities Struggled
Thailand : Banking Improving; Securities Struggled CIMB Thai’s PBT Securities PBT THB ‘mil THB ‘mil +45.5% Y-o-Y -ve% Y-o-Y +71.2% Q-o-Q 551 175 90 379 322 75 178 461 -ve% Q-o-Q 304 144 6 (15) 1Q13 4Q13 1Q14 1Q13 4Q13 1Q14 Core PBT Non Core PBT Gross Loans Total Deposits THB ‘bil THB ‘bil +20.0% Y-o
Slide 52: CIMB Thai : Earnings Summary
CIMB Thai : Earnings Summary Before GAAP Adjustments 1Q14 1Q13 Y-o-Y 4Q13 Q-o-Q (THB ’mil) Net interest income 1,855 1,460 27.1% 1,807 2.7% Non interest income 843 514 64.2% 2,056 (59.0%) Operating income 2,698 1,974 36.7% 3,863 (30.1%) Overhead expenses (1,678) (1,382) 21.4% (1,639) 2.3% PPOP 1,020
Slide 53: CIMB Thai : Key Ratios
CIMB Thai : Key Ratios (Consolidated, %) 1Q14 1Q13 Y-o-Y 4Q13 Q-o-Q ROE ^ 8.0 6.1 9.6 NIM ^ 3.27 3.17 3.12 Cost to Income 62.2 70.0 42.4 Loan Loss Coverage ** 100.6 86.1 107.8 Loan Loss Charge ^ 1.1 0.6 4.4 Gross NPL ratio ** 3.1 2.6 2.5 Net NPL ratio ** 1.8 1.8 1.7 Loan to Deposit 113.3 105.4 112.5
Slide 54: Singapore : Strong Momentum
Singapore : Strong Momentum PBT Forex Volume SGD ‘mil SGD ‘mil +73.1% Y-o-Y +30.6% Y-o-Y +49.6% Q-o-Q +37.4% Q-o-Q 28.1 6,171 4,726 4,490 16.3 18.8 0.5 29.7 19.5 15.7 (0.7) (1.6) 1Q13 4Q13 1Q14 1Q13 4Q13 1Q14 Bank Securities Gross Loans Total Deposits SGD ’mil SGD ’mil +39.2% Y-o-Y +72.3% Y-o-Y +3.8
Slide 55: 5. Other Highlights
CIMB Group : 1Q14 Results 5. Other Highlights
Slide 56: Malaysia : CIMB Islamic
Malaysia : CIMB Islamic Ranking of Total Islamic Assets as at 31 Dec 2013 1Q14 1Q13 Sukuk Total Assets Market Market Market Rank Company Rank Rank RM ’mil Share Share Share 1 Maybank Islamic 125,057 29% Malaysia 40.7% 1 20.2% 2 2 CIMB Islamic 49,423 11% Global 23.9% 1 5.3% 6 3 Bank Islam 42,837 10%
Slide 57: Banca & Insurance
Banca & Insurance PBT (RM ’mil) 1Q14 1Q13 Y-o-Y 4Q13 Q-o-Q CIMB Sun Life (1.8) (3.9) 52.6% 4.7 n.a. Others* 1.7 0.3 481.3% 2.6 (32.9%) Total CIG & GID (0.1) (3.6) 97.1% 7.3 n.a. Banca Income (RM ’mil) Y-o-Y Malaysia 37.9% Indonesia (17.4%) Thailand 28.2% Singapore 76.9% Total (3.1%) 57 Note: * Inclu
Slide 58: 6. Financial Targets
CIMB Group : 1Q14 Results 6. Financial Targets
Slide 59: New Targets for 2014
New Targets for 2014 1Q14 Y-o-Y FY14 ROE 13.0%1 13.5-14.0% TSR -4.5% > FBMKLCI > FBMKLCI Dividend - 40% Total Loans Growth * 12.4% (14.0%~) 14% Loan loss charge 0.19%1 35-40bps Total Capital (CIMB Group) ^ 14.8%2 > 13% CET 1 (CIMB Group) ^ 9.6%2 > 8.5% Leverage (CIMB Group) ^ 16.5x2 < 20x Notes: * E
Slide 60: 8. Final Remarks
CIMB Group : 1Q14 Results 8. Final Remarks
Slide 61: Final Remarks
Final Remarks Reasonable first quarter given the drop in CIMB Niaga’s contribution and weak capital markets Net interest income set to grow well but capital markets remain difficult and asset quality needs to be closely watched in Indonesia and Thailand Operating environment in Indonesia remains cha
Slide 62: Thank You
THANK YOU 62
Slide 63: Appendices
Appendices ba CIMB
Slide 64: Consolidated Balance Sheet Changes
Consolidated Balance Sheet Changes (RM ‘mil) 31 Mar 14 31 Mar 13 Y-o-Y 31 Dec 13 Q-o-Q Cash & short term funds 30,955 36,065 (14%) 33,679 (8%) Securities purchased under resale agreements 4,623 11,082 (58%) 8,261 (44%) Deposits & placements with financial institutions 4,823 9,617 (50%) 3,789 27% Fin
Slide 65: Asset Quality Ratios – CIMB Group
Asset Quality Ratios – CIMB Group 84.3% 84.8% 82.8% 82.3% 83.8% 81.1% 81.3% 82.3% 82.1% 82.2% 80.8% 80.4% 80.0% 84.0% 82.6% 83.7% 82.6% 80.6% 82.2% 81.9% 81.7% 81.7% 80.0% 80.7% 81.1% 79.5% 5.9% 5.7% 5.5% 5.1% 4.5% 4.8% 4.5% 4.4% 4.4% 4.1% 4.2% 3.9% 3.8% 3.8% 3.6% 3.6% 3.4% 3.2% 3.1% 3.5% 3.2% 3.1%
CIMB Group Holdings Berhad — Q1 2014 Earnings Presentation on 6ix