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The banking industry is singing for good harvests
This year's third-quarter earnings report is nearing its end. Today, the three banks also announced impressive results.
In a challenging market environment, these banks have achieved strong financial performance through steady operations and risk management.
Net profit increased by 10%, CIMC earned more than 2 billion
(Kuala Lumpur 28th) Lianchang International ( $CIMB (1023.MY)$) Thanks to a rise in both net interest income and non-interest income, net profit of RM2 billion in the 3rd quarter of fiscal year 2024 (up to the end of September) was 2 billion30.36 million, up 9.88% year on year.
Meanwhile, CIMC's third-quarter turnover increased 8.17% year over year to RM5.7 billion41.59 Ringgit. Revenue and core net profit also both recorded record highs.
In the first nine months of the current fiscal year, CIMC accumulated net profit of RM5.9 billion27.67 million, up 12.57% year on year, while revenue rose 8.53% year on year to RM16.9 billion 73.09 million.
According to CIMC International, its net interest income increased 6% in the first nine months of this year to RM8.5 billion71 million, while non-interest income rose 14.4% year-on-year to RM5.3 billion90 million.
The bank specifically pointed out that its net interest earnings (NIM) have been expanding for 3 consecutive quarters, from 2.59% in the late quarter of last year to 2.75% in the current quarter.
“The increase in net interest earnings is due to our discipline in pricing and our strategy of putting customer deposits first.”
Net interest earnings are expected to narrow at the end of the quarter
However, CIMC believes that under the influence of the current global macroeconomic environment, and the banking industry often faces stronger competition for capital at the end of the year, earnings may decline in the final quarter.
“We anticipate that net interest earnings will face some pressure in the final quarter of this year and fall back to normal levels.”
Furthermore, thanks to increased financing demand in various markets, CIMC International's loans up to the end of September increased 4.3% year over year, while the bank did not disclose the increase in customer deposits; it only described a slight increase. Among them, the current and savings account (CASA) ratio was 42%.
CIMC also did not provide the total amount of loans and customer deposits as of the end of September.
Asset quality improvement
At the same time, the bank said that its asset quality improved further in the third quarter, and the total impairment loan (GIL) ratio fell to 2.3% from 3.2% in the same period last year.
CIMC International CEO Novin Amirudin pointed out in a statement that based on steady results for the first nine months, the bank is expected to achieve its goals for the whole year, but the bank will remain cautious about surrounding uncertainties and keep a close eye on changes in the macroeconomic environment.
“We are looking to strengthen our deposit-related business and are adopting the “simpler, better and faster” theme in all of our business as the center of our new strategy. More details will be announced in the first quarter of 2025.”
(Kuala Lumpur 28th) Lianchang International ( $CIMB (1023.MY)$) Thanks to a rise in both net interest income and non-interest income, net profit of RM2 billion in the 3rd quarter of fiscal year 2024 (up to the end of September) was 2 billion30.36 million, up 9.88% year on year.
Meanwhile, CIMC's third-quarter turnover increased 8.17% year over year to RM5.7 billion41.59 Ringgit. Revenue and core net profit also both recorded record highs.
In the first nine months of the current fiscal year, CIMC accumulated net profit of RM5.9 billion27.67 million, up 12.57% year on year, while revenue rose 8.53% year on year to RM16.9 billion 73.09 million.
According to CIMC International, its net interest income increased 6% in the first nine months of this year to RM8.5 billion71 million, while non-interest income rose 14.4% year-on-year to RM5.3 billion90 million.
The bank specifically pointed out that its net interest earnings (NIM) have been expanding for 3 consecutive quarters, from 2.59% in the late quarter of last year to 2.75% in the current quarter.
“The increase in net interest earnings is due to our discipline in pricing and our strategy of putting customer deposits first.”
Net interest earnings are expected to narrow at the end of the quarter
However, CIMC believes that under the influence of the current global macroeconomic environment, and the banking industry often faces stronger competition for capital at the end of the year, earnings may decline in the final quarter.
“We anticipate that net interest earnings will face some pressure in the final quarter of this year and fall back to normal levels.”
Furthermore, thanks to increased financing demand in various markets, CIMC International's loans up to the end of September increased 4.3% year over year, while the bank did not disclose the increase in customer deposits; it only described a slight increase. Among them, the current and savings account (CASA) ratio was 42%.
CIMC also did not provide the total amount of loans and customer deposits as of the end of September.
Asset quality improvement
At the same time, the bank said that its asset quality improved further in the third quarter, and the total impairment loan (GIL) ratio fell to 2.3% from 3.2% in the same period last year.
CIMC International CEO Novin Amirudin pointed out in a statement that based on steady results for the first nine months, the bank is expected to achieve its goals for the whole year, but the bank will remain cautious about surrounding uncertainties and keep a close eye on changes in the macroeconomic environment.
“We are looking to strengthen our deposit-related business and are adopting the “simpler, better and faster” theme in all of our business as the center of our new strategy. More details will be announced in the first quarter of 2025.”
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Hong Leong earned 1.09 billion in the first quarter
(Kuala Lumpur 28th) Hong Leong Bank ( $HLBANK (5819.MY)$) Driven by higher net interest income and non-interest income, net profit for the first quarter of fiscal year 2025 (up to the end of September) was 1 billion RM89.96 million, up 5.84% year over year.
Meanwhile, Hong Leong Bank's first-quarter revenue increased by 14.62% to RM1.5 billion97.87 million; both turnover and profit reached record highs
Lin Shiyue, managing director and CEO of Hong Leong Bank, said in a statement that the bank's net profit rose in the first quarter, driven by steady loan growth, improved non-interest income, and expanded contributions from joint companies.
“Our loans increased 6.9% year over year in the first quarter to RM194.2 billion, supported by the expansion of home loans, car loans, small and medium enterprise (SME) loans, and commercial bank loans.”
Driven by loan growth, Hong Leong Bank's net interest income for the first quarter rose 10.5% year over year to RM1.2 billion, while net interest earnings (NIM) continued the upward trend, increasing 8 basis points year over year, or 3 basis points quarterly to 1.92%.
Its non-interest income grew even faster, rising 32% year over year to RM0.3 billion, mainly driven by healthy expense income, higher realized investment income, and improved foreign exchange earnings.
The return rate reached 11.8%
Lin Shiyue pointed out that the bank's return on equity in the first quarter was encouraging, at 11.8%.
As for Hong Leong Bank's customer deposits, it rose 4.9% year on year to RM219.4 billion in the first quarter. Among them, current and savings accounts (CASA) increased 13.6% year over year to RM70.4 billion, and CASA ratio was 32.1%.
Furthermore, Lin Shiyue said that Hong Leong Bank continues to closely monitor the quality of its assets. The total impairment loan (GIL) ratio in the first quarter was only 0.54%, which performed well.
Looking ahead, Lin Shiyue pointed out that the growth momentum of the Malaysian economy has continued into the third quarter, indicating that economic momentum can be maintained in the second half of the year. Excluding unexpected factors, the annual economic growth is expected to reach 4.8% to 5.3% as officially predicted.
“On the peripheral side, we expect export demand to continue to expand, supported by an upward cycle in the global technology sector.”
(Kuala Lumpur 28th) Hong Leong Bank ( $HLBANK (5819.MY)$) Driven by higher net interest income and non-interest income, net profit for the first quarter of fiscal year 2025 (up to the end of September) was 1 billion RM89.96 million, up 5.84% year over year.
Meanwhile, Hong Leong Bank's first-quarter revenue increased by 14.62% to RM1.5 billion97.87 million; both turnover and profit reached record highs
Lin Shiyue, managing director and CEO of Hong Leong Bank, said in a statement that the bank's net profit rose in the first quarter, driven by steady loan growth, improved non-interest income, and expanded contributions from joint companies.
“Our loans increased 6.9% year over year in the first quarter to RM194.2 billion, supported by the expansion of home loans, car loans, small and medium enterprise (SME) loans, and commercial bank loans.”
Driven by loan growth, Hong Leong Bank's net interest income for the first quarter rose 10.5% year over year to RM1.2 billion, while net interest earnings (NIM) continued the upward trend, increasing 8 basis points year over year, or 3 basis points quarterly to 1.92%.
Its non-interest income grew even faster, rising 32% year over year to RM0.3 billion, mainly driven by healthy expense income, higher realized investment income, and improved foreign exchange earnings.
The return rate reached 11.8%
Lin Shiyue pointed out that the bank's return on equity in the first quarter was encouraging, at 11.8%.
As for Hong Leong Bank's customer deposits, it rose 4.9% year on year to RM219.4 billion in the first quarter. Among them, current and savings accounts (CASA) increased 13.6% year over year to RM70.4 billion, and CASA ratio was 32.1%.
Furthermore, Lin Shiyue said that Hong Leong Bank continues to closely monitor the quality of its assets. The total impairment loan (GIL) ratio in the first quarter was only 0.54%, which performed well.
Looking ahead, Lin Shiyue pointed out that the growth momentum of the Malaysian economy has continued into the third quarter, indicating that economic momentum can be maintained in the second half of the year. Excluding unexpected factors, the annual economic growth is expected to reach 4.8% to 5.3% as officially predicted.
“On the peripheral side, we expect export demand to continue to expand, supported by an upward cycle in the global technology sector.”
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Allianz Bank earns 0.19 billion and dividends 9.5 cents
(Kuala Lumpur 28th) Allianz Bank ( $ABMB (2488.MY)$) It maintained stable performance in the 2025 fiscal quarter (up to the end of September), with a net profit of RM0.1 billion 89.91 million, a slight increase of 2.47% over the previous year, and announced a dividend of 9.5 cents per share.
Meanwhile, Allianz Bank's revenue for the second quarter increased 14.68% year over year to RM0.6 billion 5.65 Ringgit.
In the first half of the fiscal year, Allianz Bank made a total net profit of RM0.3 billion 66.56 million, up 9.14% year over year, while revenue rose 15.19% year over year to RM1.1 billion 45.42 million.
Additionally, Allianz Bank announced the payment of an initial interim dividend of 9.5 cents per share, excluding December 12 and December 30.
Allianz Bank loans continued to expand, increasing 14.8% year over year to RM59.1 billion by the end of September, driving its net interest income up 15% year over year to RM0.9 billion for the next quarter.
The bank's net interest earnings (NIM) for the next quarter was 2.47%.
Allianz Bank's non-interest revenue also rose 16.1% year over year to RM0.1 billion due to the stimulus, driven by wealth management, foreign exchange sales, transaction costs and investment income.
Its customer deposits increased 13.8% year over year, while the current and savings account (CASA) ratio remained at 40.9%, one of the highest levels in the industry.
The bank's net credit cost for the first half of the fiscal year was 24.5 basis points, and the loan loss coverage rate was 112.1%.
(Kuala Lumpur 28th) Allianz Bank ( $ABMB (2488.MY)$) It maintained stable performance in the 2025 fiscal quarter (up to the end of September), with a net profit of RM0.1 billion 89.91 million, a slight increase of 2.47% over the previous year, and announced a dividend of 9.5 cents per share.
Meanwhile, Allianz Bank's revenue for the second quarter increased 14.68% year over year to RM0.6 billion 5.65 Ringgit.
In the first half of the fiscal year, Allianz Bank made a total net profit of RM0.3 billion 66.56 million, up 9.14% year over year, while revenue rose 15.19% year over year to RM1.1 billion 45.42 million.
Additionally, Allianz Bank announced the payment of an initial interim dividend of 9.5 cents per share, excluding December 12 and December 30.
Allianz Bank loans continued to expand, increasing 14.8% year over year to RM59.1 billion by the end of September, driving its net interest income up 15% year over year to RM0.9 billion for the next quarter.
The bank's net interest earnings (NIM) for the next quarter was 2.47%.
Allianz Bank's non-interest revenue also rose 16.1% year over year to RM0.1 billion due to the stimulus, driven by wealth management, foreign exchange sales, transaction costs and investment income.
Its customer deposits increased 13.8% year over year, while the current and savings account (CASA) ratio remained at 40.9%, one of the highest levels in the industry.
The bank's net credit cost for the first half of the fiscal year was 24.5 basis points, and the loan loss coverage rate was 112.1%.
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Source: Nanyang Siang Pao
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C Meng : Later also drop