Analyst Presentation 9M15 Results 25 November 2015
Agenda 1. Key Highlights 2. CIMB Group 9M15 Financials 3. PBT by Segment 3.1 Regional Consumer Banking 3.2 Regional Commercial Banking 3.3 Regional Wholesale Banking 3.4 Group Asset Management & Investments 3.5 Group Funding 4. Other Highlights 5. Final Remarks 2
CIMB Group : 9M15 Results 1. Key Highlights
Key Financial Highlights Operating Income Overhead Expenses Loan Impairment RM ‘mil RM ‘mil RM ‘mil +8.4% Y-o-Y +163.5% Y-o-Y +5.5% Y-o-Y 1,2,4 11,354 (1,589) 10,474 (6,385) (6,053) +0.2% Q-o-Q +0.1% Q-o-Q -1.1% Q-o-Q 3,834 3,840 2 4 (603) (2,123) (2,125 (530) (524) 9M14 9M15 2Q15 3Q15 9M14 9M15 2Q15 3Q15 9M14 9M15 2Q15 3Q15 BAU BAU BAU Gross Loans 6 Net Profit Deposits RM ‘mil RM ‘bil RM ‘bil +19.7% Y-o-Y +17.7% Y-o-Y -11.9% Y-o-Y +5.6% Q-o-Q +6.5% Q-o-Q 294.5 313.9 1,2,3,4,5 2,906 +2.9% Q-o-Q 276.6 2,561 297.3 2,3 4,5 877 902 246.1 266.8 9M14 9M15 2Q15 3Q15 Sep-14 Jun-15 Sep-15 Sep-14 Jun-15 Sep-15 BAU BAU BAU Notes: 1. Excluding IB restructuring cost (RM202 mil) 3. Excluding tax on MY MSS (RM79 mil) 5. Excluding tax and MI on ID MSS (RM36 mil) 4 2. Excluding MY MSS cost (RM316 mil) 4. Excluding ID MSS cost (RM134 mil) 6. Excluding bad bank
Key Ratios ROE NIM CI -21bps -160bps -280bps +7bps Flat 2.86% 57.8% +20bps 11.6% 1,2,4 56.2% 2 4 1,2,3,4,5 4,5 2.68% 2,3 55.4% 55.4% 2.65% 9.2% 9.0% 8.8% 2.61% 9M14 9M15 2Q15 3Q15 9M14 9M15 2Q15 3Q15 9M14 9M15 2Q15 3Q15 BAU BAU BAU BAU BAU BAU LD CASA Loan Loss Charge -6bps -80bps +39bps +140bps -100bps 0.76% 0.71% 0.70% +90bps 35.1% 34.9% 94.9% 94.0% 0.32% 93.5% 34.1% Sep-14 Jun-15 Sep-15 Sep-14 Jun-15 Sep-15 9M14 9M15 2Q15 3Q15 Notes: 1. Excluding IB restructuring cost (RM202 mil) 3. Excluding tax on MY MSS (RM79 mil) 5. Excluding tax and MI on ID MSS (RM36 mil) 5 2. Excluding MY MSS cost (RM316 mil) 4. Excluding ID MSS cost (RM134 mil)
PBT By Segments 9M15*~ 9M14 Group Funding Group Funding 6% 10% GAMI Consumer GAMI 6% Consumer Banking 6% Banking 29% 39% Wholesale Banking 35% Wholesale Commercial Banking Commercial Banking 42% Banking 13% 14% 9M15* PBT Growth by Key Divisions Consumer Commercial Wholesale Group Asset Group Banking Banking Banking Management Funding & Investments * ~ ~ +19.7% +40.0% +11.5% +3.1% -44.1% PPOP Y-o-Y * ~ ~ +17.4% -6.0% -26.1% -15.8% -43.1% PBT Y-o-Y * ~ ~ -12.2% +89.2% -1.8% -9.3% -9.2% PBT Q-o-Q Notes: * Excluding IB restructuring cost (RM202 mil) 6 ~ Excluding MY MSS cost (RM316 mil) and ID MSS cost (RM134 mil)
PBT By Country 9M15 ^* 9M14 ^ Others Others Singapore Singapore 2% -2% 9% 7% Thailand Thailand 6% 5% Indonesia Indonesia 8% 22% Malaysia Malaysia 68% 75% 9M15* PBT Y-o-Y Growth by Key Countries ^ +1.4% +5.8% +72.0% +27.4% PPOP Y-o-Y * # * ** -1.8% -67.8% +22.0% +21.3% PBT Y-o-Y # * ** -5.7% +279.6% +125.9% +7.8% PBT Q-o-Q Notes: * Excluding IB restructuring cost (RM202 mil) and MY MSS cost (RM316 mil) # Excluding restructuring cost (RM41 mil) 7 ** Excluding ID MSS cost (RM134 mil) ^ Excluding HQ costs, mainly comprising of funding costs
CIMB Group : 9M15 Results 2. CIMB Group 9M15 Financials
Quarterly Earnings Trend Private Placement 14.1% 14.1% 13.0% 10.7% 9.8% 9.0% 9.1% 8.2% 2.7% 3,834 3,797 3,840 3,680 3,538 3,529 3,545 3,485 3,407 1,431 1,386 1,375 1,281 1,199 1,179 1,209 1,026 1,066 1,051 1,062 950 902 890 877 782 386 252 + ^ > ~ 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 Operating income* PBT* Net profit* ROE** Notes: * Amounts denoted in RM ‘mil ** Annualised ^ Excluding gains from sale of Karawaci building (RM66 mil), gains from sale of CIMB Insurance Brokers (RM61 mil), IB goodwill impairment (RM128 mil) and DTA reversal (RM51 mil) > Excluding IB restructuring cost (RM202 mil) + Excluding MY MSS cost (RM316 mil) and tax on MY MSS (RM79 mil) 9 ~ Excluding ID MSS cost (RM134 mil) and tax and MI on ID MSS (RM36 mil)
Earnings Summary 9M15 3Q15 2Q15 (RM ‘mil) 9M14 Y-o-Y Q-o-Q BAU* BAU* BAU* Net interest income 7,885 7,400 6.6% 2,767 2,601 6.4% Non interest income 3,469 3,074 12.8% 1,073 1,233 (13.0%) Operating income 11,354 10,474 8.4% 3,840 3,834 0.2% Overhead expenses (6,385) (6,053) 5.5% (2,125) (2,123) 0.1% PPOP 4,969 4,421 12.4% 1,715 1,711 0.2% Loan impairment (1,589) (603) 163.5% (524) (530) (1.1%) Other provisions (12) (31) (61.3%) (6) (10) (40.0%) Share of JV / Associates 66 104 (36.5%) 24 28 (14.3%) PBT 3,434 3,891 (11.7%) 1,209 1,199 0.8% Net profit 2,561 2,906 (11.9%) 902 877 2.9% EPS (sen) 30.3 35.2 (13.9%) 10.7 10.3 3.9% ROE (Annualised) 8.8% 11.6% (280bps) 9.1% 9.0% 10bps PBT (Actual) 2,782 3,891 (28.5%) 1,075 883 21.7% Net Profit (Actual) 2,024 2,906 (30.4%) 804 640 25.6% 10 Note: * Excluding 1Q15: IB restructuring cost (RM202 mil); 2Q15: MY MSS cost (RM316 mil) and tax on MY MSS (RM79 mil); 3Q15: ID MSS cost (RM134 mil) and tax and MI on ID MSS (RM36 mil)
Key Ratios 9M15 3Q15 2Q15 (%) 9M14 Y-o-Y Q-o-Q BAU* BAU* BAU* ROE ^ 8.8 11.6 9.1 9.0 NIM ^** 2.65 2.86 2.68 2.61 Non-interest income / total income 30.5 29.4 27.9 32.1 Cost to income 56.2 57.8 55.4 55.4 Allowance coverage excluding regulatory reserve 76.6 74.2 76.6 77.9 Allowance coverage # 84.9 99.3 84.9 86.1 Loan loss charge ^ 0.71 0.32 0.70 0.76 Gross impaired loans ratio 3.4 3.3 3.4 3.3 Net impaired loans ratio (Net of IA and PA) 0.8 0.9 0.8 0.8 Average shareholders’ funds (RM ’mil) 38,800 33,493 39,466 38,783 ROA ^ 0.77 1.02 0.79 0.80 Book value per share (RM) 4.74 4.40 4.74 4.61 Loan to Deposit (LDR) 94.9 93.5 94.9 94.0 CASA ratio 34.1 34.9 34.1 35.1 Notes: * Excluding 1Q15: IB restructuring cost (RM202 mil); 2Q15: MY MSS cost (RM316 mil) and tax on MY MSS (RM79 mil) ; 3Q15: ID MSS (RM134 mil) and tax and MI on ID MSS (RM36 mil) ^ Annualised ** Daily Average # Including regulatory reserve. Regulatory reserve maintained in equity as an additional credit risk absorbent in accordance with BNM requirement. 11 This is to ensure robustness on the loan/financing loss estimates methodology with the adoption of FRS 139 beginning 1 Jan 2010
Operating Expenses 9M15 (RM ‘mil) 9M14 Y-o-Y 3Q15 BAU* 2Q15 BAU* Q-o-Q BAU* Personnel 3,597 3,362 7.0% 1,186 1,202 (1.3%) Establishment 1,455 1,433 1.5% 491 477 2.9% Marketing 271 264 2.7% 90 85 5.9% Admin & General 1,062 994 6.8% 358 359 (0.3%) Total 6,385 6,053 5.5% 2,125 2,123 0.1% Total (Actual) 7,037 6,053 16.3% 2,259 2,439 (7.4%) (%) 9M15 9M14 3Q15 2Q15 Cost to income 62.0 57.8 58.9 63.6 Cost to income excluding One-off items 56.2* 57.8 55.4 55.4* 12 Notes: * Excluding 1Q15: IB restructuring cost (RM202 mil); 2Q15: MY MSS cost (RM316 mil); 3Q15: ID MSS cost (RM134 mil)
Gross Loans Growth Loans by Country as at 30 Sep 15 # Divisions / Products (RM ‘bil) 30 Sep 15 30 Sep 14 Y-o-Y 30 Jun 15 Q-o-Q Others Retail Financial Services (48.9%) 144.0 124.3 15.8% 138.2 4.2% 8% Singapore 13% Mortgages 70.3 60.0 17.2% 66.8 5.2% Term Loans 32.5 29.0 12.1% 31.7 2.5% Thailand Malaysia Auto 20.1 18.3 9.8% 19.5 3.1% 8% 52% Credit Cards 8.4 7.0 20.0% 7.9 6.3% Indonesia 19% Personal Financing 4.1 3.8 7.9% 4.1 - Enterprise 6.5 5.1 27.5% 6.2 4.8% Loans* + Y-o-Y Growth Others 2.1 1.1 90.9% 2.0 5.0% Commercial Banking (13.5%) 39.7 34.6 14.7% 38.4 3.4% Malaysia 10.5% Wholesale Banking (37.6%) 110.8 87.2 27.1% 100.0 10.8% Indonesia ^ 12.3% Gross Loans excl bad bank* 294.5 246.1 19.7% 276.6 6.5% Thailand ^ 9.2% Bad Bank 3.3 3.4 (2.9%) 3.0 10.0% Singapore ^ 7.9% Total Gross Loans 297.8 249.5 19.4% 279.6 6.5% Others** 31.7% Group ~ 10.7% Notes: * Excluding FX fluctuations, total gross loans grew +10.7% Y-o-Y and +2.2% Q-o-Q + Gross loans exclude bad bank # Based on geographical location of counterparty, excluding bad bank ^ In local currency ~ Excluding FX fluctuations 13 ** Including Labuan, London, Cambodia, Hong Kong & Shanghai
Deposits Growth Deposits by Country as at 30 Sep 15 Divisions / Products (RM ‘bil) 30 Sep 15 30 Sep 14 Y-o-Y 30 Jun 15 Q-o-Q Others Retail Financial Services (41.8%) 131.3 113.0 16.2% 124.6 5.4% Singapore 6% 12% Commercial Banking (13.9%) 43.7 33.6 30.1% 40.9 6.8% Thailand Wholesale Banking # (44.3%) 138.9 120.2 15.6% 131.8 5.4% 6% Total * 313.9 266.8 17.7% 297.3 5.6% Malaysia 58% Indonesia 18% Deposits Y-o-Y Growth Malaysia 10.8% Indonesia ^ 11.3% Thailand ^ 3.2% Singapore ^ 17.6% Others** (8.4%) Group ~ 10.0% Notes: * Excluding FX fluctuations, total group deposits grew +10.0% Y-o-Y and +1.9% Q-o-Q ^ In local currency ~ Excluding FX fluctuations # Including deposits with options classified as derivatives in MY & SG 14 ** Including Labuan, London, Cambodia, Hong Kong & Shanghai
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