CIMB Niaga – decent 2Q24 results despite headwinds
Macquarie Equities Research (MQ Research) released a flashnote summarising CIMB Niaga’s (Niaga) 2Q24 financial results. Niaga is the 92.5% owned Indonesian banking subsidiary of CIMB which contributes about 27% of group profit before tax and about 15% of group loans according to MQ Research.
MQ Research highlighted Niaga’s 2Q24 net profit of RP1.7bn (+2.7% quarter-on-quarter, +4.4% year-on-year), which is in line with Bloomberg consensus and coming in at 49% of full year Bloomberg estimates. MQ Research also stated that Niaga’s results are supportive of its positive outlook on CIMB’s earnings for 2Q24. CIMB is expected to report 2Q24 results on 30 August.
CIMB-C1M is currently on tight spreads, with a bid and ask price of RM0.105/RM0.110, and 1M units placed at each of the bid and ask as of the time of writing, allowing investors to enter and exit positions with relative ease.
📌 Read on for more: tinyurl.com/yah...
MQ Research highlighted Niaga’s 2Q24 net profit of RP1.7bn (+2.7% quarter-on-quarter, +4.4% year-on-year), which is in line with Bloomberg consensus and coming in at 49% of full year Bloomberg estimates. MQ Research also stated that Niaga’s results are supportive of its positive outlook on CIMB’s earnings for 2Q24. CIMB is expected to report 2Q24 results on 30 August.
CIMB-C1M is currently on tight spreads, with a bid and ask price of RM0.105/RM0.110, and 1M units placed at each of the bid and ask as of the time of writing, allowing investors to enter and exit positions with relative ease.
📌 Read on for more: tinyurl.com/yah...
![CIMB Niaga – decent 2Q24 results despite headwinds](https://ussnsimg.moomoo.com/sns_client_feed/80001374/20240731/1722399050796-65973e3cbd.png/big?area=100&is_public=true)
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment