KUALA LUMPUR: CIMB Group Holdings Bhd has reiterated its steadfast commitment to sustainability as it serves as an integral part of the group's strategic plan.
CIMB Group chairman Datuk Mohd Nasir Ahmad said the group has consistently stayed on target or outperformed its year on year (YoY) sustainability aspirations.
For the second consecutive year, Mohd Nasir said the group is proud to have achieved top quartile within the global banking industry in the S&P Global Corporate Sustainability Assessment (CSA), achieving its Forward23+ targets two years ahead of plan further.
"Among 400 international financial institutions, CIMB ranked seventh worldwide in the 2023 Financial System Benchmark.
"These recognitions reinforce our ongoing sustainability agenda and leadership, as we strive for sustainable growth to unlock new possibilities and opportunities into the future," he said in a statement in conjunction with CIMB Group's 67th annual general meeting (AGM) today.
Over the last three years, CIMB Group has achieved cumulatively RM86.2 billion of sustainable finance under the group's green, social, sustainable impact products and services (GSSIPS) framework, inching closer to its revised sustainable finance target of RM100 billion by 2024, which tripled from the initial target of RM30 billion that was announced in 2021.
CIMB Group shareholders today passed all 10 ordinary resolutions in the AGM and the audited financial statements for the financial year ended Dec 31, 2023 (FY23) were duly received.
CIMB Group saw continued positive momentum in FY23, driven by strong underlying performance across all business segments and geographies.
The positive YoY performance was underpinned by robust operating income growth with solid loan and current account savings account growth, coupled with lower provisions from prudent risk management and recoveries.
Accordingly, the group met most of its financial targets for FY23, including annualised return on average equity and credit cost/provisions.
CIMB Group remains well-capitalised as its common equity tier 1 ratio remained strong at 14.5 per cent as at December 2023.
The group declared a total annual dividend of 36.00 sen per share for a payout ratio of 55.0 per cent, in line with its dividend policy.
It also awarded a special dividend payout of RM747 million or 7.00 sen per share, which in turn translated to a record total dividend payout of RM4.59 billion for FY23, providing shareholders with higher returns.
