CIMB Group Holdings (CIMB) Q1 2025 earnings summary

Executive summary

• Achieved resilient Q1 2025 performance with net profit of RM2.0 billion, up 9.6% quarter-on-quarter and 1.9% year-on-year, and ROE at 11.4%.

• Maintained stable NIM at 2.16% despite regional rate cuts, supported by lower cost of funds.

• Asset, loan, and deposit growth of 5%, 4.4%, and 2.7% year-on-year in constant currency; CASA ratio improved to 43.8%.

• Cost-to-income ratio steady at 46.9% with disciplined cost management and increased technology investment.

• Asset quality remains strong with credit cost at 26 bps and allowance coverage at 102.4%.

Financial highlights

• Net profit reached RM2.0 billion, up 9.6% quarter-on-quarter and 1.9% year-on-year; PBT up 11.2% quarter-on-quarter and 2.1% year-on-year to RM2.63 billion.

• NIM held at 2.16% despite regional rate cuts; cost of funds reduced by 4 bps quarter-on-quarter and 11 bps year-on-year.

• Fee and commission income up 6.9% year-on-year and 12.6% quarter-on-quarter; treasury client sales up 5% year-on-year and 18.9% quarter-on-quarter.

• CASA ratio at 43.8%, up 3.0ppts year-on-year; CASA grew 7.4% year-on-year.

• CET1 ratio strong at 14.7%; LCR and total capital ratio above regulatory requirements.

Outlook and guidance

• FY25 guidance: ROE 11.0–11.5%, loan growth 5–7%, CIR <46.7%, credit cost 25–35 bps, CET1 ≥14.0%.

• Margin guidance tilted to lower end: stable to -5 bps at group and Malaysia level, -10 bps in Thailand and Singapore, -20 to +10 bps in Indonesia.

• Focus on disciplined execution of Forward30 plan, optimizing funding mix, and proactive capital management.

• Proactive asset-liability management to preserve NIM amid rate cuts.

• Strategic focus on intra-ASEAN trade and growth markets (Thailand, Cambodia, Singapore).