Cathay General Bancorp Full Year 2024 Earnings: In Line With Expectations

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.

Performance of the American Banks industry.

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

Risk Analysis

Before we wrap up, we've discovered 1 warning sign for Cathay General Bancorp that you should be aware of.

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