Maybank IB raises CIMB's earnings after above expectations 2Q results

KUALA LUMPUR: Maybank Investment Bank (Maybank IB) has raised CIMB Group Holdings Bhd’s 2023 financial year (FY2023) to 2025 estimates (2025E) earnings by two per cent to factor in higher non-interest (NOII) income, as well as a dividend payout ratio to 55 per cent from 50 per cent previously.

"Correspondingly, we now expect a higher return on equity (ROE) of 9.8 per cent/10 per cent for FY2023 and 2024E, respectively, versus 9.6 per cent/9.8 per cent before.”