CIMB Group will continue to ramp up investments into technology and operations, with planned expenditure of up to RM1bil in 2023.
CIMB group chief financial officer Khairul Rifaie and group chief executive officer Datuk Abdul Rahman Ahmad .will continue to ramp up investments into technology and operations, with planned expenditure of up to RM1bil in 2023 to further digitise as well as enhance its digital capabilities and operational resiliency.
Going into 2023, Abdul Rahman said the bank anticipate continuing macroeconomic uncertainty, underpinned by the elevated interest rate environment and intensified competition for deposits. In the fourth quarter ended Dec 31, CIMB’s net profit surged to RM1.32bil, or earnings per share of 12.49 sen against RM854.51mil, or 8.37 sen.CIMB’s core profit before tax of RM8.49bil for the financial year ended Dec 31, 2022 , up 33.8% year-on-year .
CIMB proposed an all-cash second interim dividend of 13.00 sen per share, bringing the total proposed annual dividend to 26.00 sen per share for a payout ratio of 50.5% based on reported net profit, in line with its dividend policy. Total CASA, however, fell 1.8% YoY from expected attrition in line with post-pandemic economic activity growth, leading to a CASA ratio of 39.9% as at Dec-22.
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