CIMB Bank Bhd. reported a 20.4% year-over-year increase in profit for 2017 full year as both net interest income and income from Islamic banking operations rose.
The group posted full-year profit attributable to owners of 3.88 billion ringgit, up from 3.23 billion ringgit in the same period the prior year.
Basic EPS for the period climbed to 72.88 sen from 62.61 sen.
Net interest income grew to 6.81 billion ringgit from 6.35 billion ringgit, while income from Islamic banking operations rose to 1.80 billion ringgit from 1.45 billion ringgit.
Net income increased to 11.65 billion ringgit from 10.33 billion ringgit. Profit before allowances rose to 6.12 billion ringgit from 5.20 billion ringgit, while profit after allowances grew to 4.93 billion ringgit from 4.06 billion ringgit.
Allowances for impairment losses on loans, advances and financing came to 1.16 billion ringgit for the full year, up from 1.05 billion ringgit in the prior-year period.
Before deducting proposed dividends, the group's total capital ratio clocked in at 17.700% at Dec. 31, 2017, while its common equity Tier ratio for the period came to 12.942% and its Tier 1 ratio came to 14.095%.
After deducting proposed dividends, the group's total capital ratio came to 16.986% at the end of 2017, while its common equity Tier 1 and Tier 1 ratios clocked in at 12.227% and 13.381%, respectively, for the same period.
The bank said its board proposed a single-tier second interim dividend of approximately 29.40 sen per share, down from the prior year's dividend of 16 sen per share. Together with a first interim dividend of 23.90 sen per share, the company’s total dividend for the full year amounted to 53.30 sen per share, up from 43.40 sen per share for the year prior.
CIMB Bank is a unit of CIMB Group Holdings Bhd.
As of March 6, US$1 was equivalent to 3.90 Malaysian ringgit.