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.

In the last 12 months, the only revenue segment was Banking contributing US$692.2m. The largest operating expense was General & Administrative costs, amounting to US$258.1m (64% of total expenses). Explore how CATY's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 9.4% 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 2.8% from a week ago.

Balance Sheet Analysis

While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. We have a graphic representation of Cathay General Bancorp's balance sheet and an in-depth analysis of the company's financial position.

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