Skip to content
  • Group
    • About MARC
    • Leadership
    • Investor Relations
    • Notable Issuances
    • MARC Ratings
    • MARC Solutions
    • MARC Data
    • MARC Learning
    • Careers
  • Services
    • Credit Ratings & Related Assessments
    • Sustainability-Related Assessments
    • Economic & Fixed-Income Analysis
    • Sustainability-Related Advisory
    • Debt Advisory
    • Analytics Consulting Services
    • Subscriptions
    • Data Analytics
    • Credit Reporting
    • Learning Programmes
  • Insights
    • Rating Announcements
    • Research & Analysis
    • Views
    • MARC in the Media
    • Newsfeed
    • Latest@MARC
  • Events & CSR
    • MARCares
    • Events
  • Contact Us
    • Contact Us
    • Service Level Feedback Form
    • Publication Feedback Form
    • Whistleblowing
Menu
  • Group
    • About MARC
    • Leadership
    • Investor Relations
    • Notable Issuances
    • MARC Ratings
    • MARC Solutions
    • MARC Data
    • MARC Learning
    • Careers
  • Services
    • Credit Ratings & Related Assessments
    • Sustainability-Related Assessments
    • Economic & Fixed-Income Analysis
    • Sustainability-Related Advisory
    • Debt Advisory
    • Analytics Consulting Services
    • Subscriptions
    • Data Analytics
    • Credit Reporting
    • Learning Programmes
  • Insights
    • Rating Announcements
    • Research & Analysis
    • Views
    • MARC in the Media
    • Newsfeed
    • Latest@MARC
  • Events & CSR
    • MARCares
    • Events
  • Contact Us
    • Contact Us
    • Service Level Feedback Form
    • Publication Feedback Form
    • Whistleblowing
  • MARC Online
  • Subscribe
  • Group

    Group

    The MARC Group of Companies comprises MARC Ratings, MARC Solutions, MARC Data and MARC Learning.

    • About MARC
    • Leadership
    • Investor Relations
    • Notable Issuances
    • About MARC
    • Leadership
    • Investor Relations
    • Notable Issuances
    • MARC Ratings
    • MARC Solutions
    • MARC Data
    • MARC Learning
    • MARC Ratings
    • MARC Solutions
    • MARC Data
    • MARC Learning

    MARC Ratings

    • Rating Guide
    • Rating Process
    • Rating Symbols & Definitions
    • Rating Methodologies
    • Regulatory
    • Lead Managers

    MARC Solutions

    MARC Data

    MARC Learning

    • Careers
    • Careers
  • Services

    Services

    MARC's subsidiaries each provide distinct product offerings and services.

    • Credit Ratings & Related Assessments
    • Sustainability-Related Assessments
    • Economic & Fixed-Income Analysis
    • Credit Ratings & Related Assessments
    • Sustainability-Related Assessments
    • Economic & Fixed-Income Analysis
    • Sustainability-Related Advisory
    • Debt Advisory
    • Analytics Consulting Services
    • Sustainability-Related Advisory
    • Debt Advisory
    • Analytics Consulting Services
    • Subscriptions
    • Data Analytics
    • Credit Reporting
    • Learning Programmes
    • Subscriptions
    • Data Analytics
    • Credit Reporting
    • Learning Programmes
  • Insights

    Insights

    Find the vital information you need and stay up to date with the latest news from MARC.

    • Rating Announcements
    • Research & Analysis
    • Views
    • Rating Announcements
    • Research & Analysis
    • Views
    • MARC in the Media
    • Latest@MARC
    • MARC in the Media
    • Latest@MARC
  • Events & CSR

    Events & CSR

    MARC organises a diverse range of events throughout the year to engage with all stakeholders.

    • MARCares
    • Events
    • MARCares
    • Events
  • Contact Us

    Contact Us

    Let's get the conversation started - Get in touch with us!

    • Contact Us
    • Service Level Feedback Form
    • Publication Feedback Form
    • Whistleblowing
    • Contact Us
    • Service Level Feedback Form
    • Publication Feedback Form
    • Whistleblowing
MARC Online
Subscribe
Menu
  • Group
  • Services
  • Insights
  • Events & CSR
  • Contact Us
Menu
  • Group
  • Services
  • Insights
  • Events & CSR
  • Contact Us
Credit Ratings & Related Assessments
Economic & Fixed-Income Analysis
Sustainability Related
Debt Advisory
Analytics Consulting Services
Data Analytics
Credit Reporting
Learning Programme

Credit Ratings & Related Assessments

Economic & Fixed-Income Analysis

Sustainability Related

Debt Advisory

Analytics Consulting Services

Data Analytics

Credit Reporting

Learning Programme

  • Insights
  • Rating Announcements
Ratings

MARC Ratings affirms CIMB Group Holdings’ ratings with stable outlook

8 July 2022

Access the full report here.

View Reports

Contacts

Farhan Darham
+603-2717 2945/ farhan@marc.com.my

Haziq Najmuddin
+603-2717 2965/ haziq@marc.com.my

Mohd Izazee Ismail
+603-2717 2947/ izazee@marc.com.my

MARC Ratings has affirmed its long-term and short-term corporate credit ratings of AA+/MARC-1 on CIMB Group Holdings
Berhad (CIMB Group) and its issue rating of AA on the group’s RM10.0 billion Basel III-compliant Tier 2 Subordinated
Debt Programme. The ratings outlook is stable.

CIMB Group is a non-operating financial holding company and is the country’s second-largest banking group with total assets of RM632.6 billion as at end-1Q2022. CIMB Bank Berhad remains its core
operating entity, accounting for 84.8% of total consolidated assets as at end-1Q2022 and historically contributing a substantial portion
of dividend income to the group. CIMB Group’s long-term rating of AA+ reflects its subordination to CIMB Bank (AAA/Stable).
CIMB Group’s affirmed ratings are premised on the group’s status as a domestic systemically important bank which hinges on
CIMB Bank’s significant market position in loans and deposits in the domestic banking industry.

For 1Q2022, CIMB Group recorded pre-tax profit of RM2.0 billion (1Q2021: RM2.9 billion); the higher earnings in 1Q2021 were due to
disposal of subsidiaries for RM1.2 billion. During the period, loan book grew by 5.0% y-o-y to RM384.7 billion on the
back of resumption of economic activities. Of its key operating markets, domestic loans accounted for 63.0% of its loan book,
followed by Indonesia (14.9%) and Thailand (7.7%).

Gross impaired loans ratio remained stable at 3.44% as at end-1Q2022 (1Q2021: 3.44%) as the group continued to provide relief measures as well as undertake restructuring and
rescheduling to manage its asset quality. Its capitalisation remains strong and provides the capacity to absorb
potential shocks from any credit impairments once the extended relief measures end; Common Equity Tier 1,
Tier 1 and total capital ratios stood at 13.8%, 14.7% and 17.6%.

For 2021, CIMB Group received dividend income of RM582.6 million that was sufficient to meet its debt obligations. Its debt-to-equity ratio was stable at 0.52x,
with borrowings declining slightly to RM14.3 billion. Borrowings, however, remained on the high side since 2016, largely due
to Basel III-compliant sub-debt issuances. As these issuances are invested in similar capital instruments issued by its
banking subsidiaries, the debt servicing costs under the issuances have been met by cash flows from its subsidiaries.

Related Report

Read More

Related Issues

Read More

Related News

Read More

You May Also Like To Read

See All
Ratings

MARC Ratings assigns final ratings to Bank Muamalat’s RM5.0 billion Sukuk Wakalah programme

27 September 2023

Ratings

MARC Ratings affirms Agrobank’s financial institution rating with stable outlook

25 September 2023

Ratings

MARC Ratings upgrades Segi Astana’s MTN rating to AA-

22 September 2023

See All

Let’s get started.

Subscribe to our mailing list today.

Subscribe Now
Group
  • About MARC
  • Leadership
  • Investor Relations
  • Notable Issuances
  • Careers
Regulatory
  • Rating Reviews Summary
  • List of Defaults
  • List of Credit Ratings Published
  • List of Entities on Rating Watch
Services
  • Credit Ratings & Related Assessments
  • Sustainability-Related Assessments
  • Economic & Fixed-Income Analysis
  • Sustainability-Related Advisory
  • Corporate & Debt Restructuring Advisory
  • Subscriptions
  • Analytics Consulting Services
  • Data Analytics
  • Credit Reporting
  • Learning & Customised Programmes
Subsidiaries
  • MARC Ratings
  • MARC Learning
  • MARC Data
  • MARC Solutions
Insights
  • Rating Announcements
  • Research & Analysis
  • Views
  • Latest@MARC
  • MARC in the Media
Events
  • Corporate Events
  • Corporate Social Responsibility (CSR)
  • Advertise with MARC
Contact Us
  • Contact Us
  • Service Level Feedback Form
  • Publication Feedback Form
  • Whistleblowing
  • Group
    • About MARC
    • Leadership
    • Investor Relations
    • Notable Issuances
    • MARC Ratings
    • MARC Solutions
    • MARC Data
    • MARC Learning
    • Careers
  • Services
    • Credit Ratings & Related Assessments
    • Sustainability-Related Assessments
    • Economic & Fixed-Income Analysis
    • Sustainability-Related Advisory
    • Debt Advisory
    • Analytics Consulting Services
    • Subscriptions
    • Data Analytics
    • Credit Reporting
    • Learning Programmes
  • Insights
    • Rating Announcements
    • Research & Analysis
    • Views
    • MARC in the Media
    • Newsfeed
    • Latest@MARC
  • Events & CSR
    • MARCares
    • Events
  • Contact Us
    • Contact Us
    • Service Level Feedback Form
    • Publication Feedback Form
    • Whistleblowing
Terms & Conditions
Privacy Notice
Copyright Notice
Whistleblowing
PDPA Notice
© 2023 Malaysian Rating Corporation Berhad. All rights reserved.
Facebook Twitter Linkedin

Join MARC Mailing List

I would like to subscribe this mailing list. Please tick whichever is applicable

I agree/ do not agree (please tick whichever is applicable) to receive future events, conferences or marketing materials from MARC. *

Privacy Notice *

Declaration *