Its ROE, which had sunk to a low of 2.1% in 2020 — the first year of the pandemic — has risen markedly over the years, reaching 11.2% in 2024, among the highest in the industry and within its targeted range of 11% to 11.5%. (Its original target was 11.5% to 12.5%, but this was revised sometime mid-term to take into account the industry’s stiff fight for deposits, which took a toll on banks’ net interest margins.)
The last five years have seen CIMB Group Holdings Bhd working diligently to improve its return on equity (ROE) — a key measure of profitability — and other important financial metrics that had fallen behind those of its rivals.
This turnaround work, crafted under its Forward23+ (F23+) strategic plan that concluded last year, seems to have paid off for the country’s second, and Asean’s fifth, largest banking group by assets.
