Share Price: RM7.81 | Target Price: RM9.25 | Rating: Buy
CIMB’s FY24 results are in line, and meet its FY24 targets. Looking ahead, it has struck a cautious tone in its outlook and laid out modest FY25 targets. That said, the group will be embarking on its next strategic plan on much stronger footing, supported by much-improved asset quality with its LLC of 105% at an all-time high, solid capital, which opens up options for growth and/or capital returns, and a liquid balance sheet (LDR: 89%).
CIMB Results Update for Q4 Ending 31/12/24
Research House: RHB Investment Bank (RHBIB)
Analyst: David Chong, Nabil Thoo
FY2025 Forecast: Net Profit: RM8,281m | EPS: RM0.78 | DPS: RM0.43