Cathay General Bancorp (NASDAQ:CATY) Full Year 2024 Results

Key Financial Results

• Revenue: US$692.2m (down 12% from FY 2023).
• Net income: US$286.0m (down 19% from FY 2023).
• Profit margin: 41% (down from 45% in FY 2023). The decrease in margin was driven by lower revenue.
• EPS: US$3.97 (down from US$4.88 in FY 2023).

CATY Banking Performance Indicators

• Net interest margin (NIM): 3.04% (down from 3.45% in FY 2023).
• Cost-to-income ratio: 51.4% (up from 47.0% in FY 2023).
• Non-performing loans: 0.89% (up from 0.38% in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Cathay General Bancorp Meets Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) was also in line with analyst expectations.

Looking ahead, revenue is forecast to grow 8.1% p.a. on average during the next 2 years, compared to a 7.2% growth forecast for the Banks industry in the US.

The company's shares are down 2.2% from a week ago.

Risk Analysis

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.