Welcome to our dedicated page for Cathay Gnl Bncp news (Ticker: CATY), a resource for investors and traders seeking the latest updates and insights on Cathay Gnl Bncp stock.
Cathay General Bancorp (CATY), a leading bank holding company with deep community roots and international financial expertise, provides this centralized news hub for stakeholders. Track all official press releases and verified news coverage spanning commercial banking developments, cross-border service expansions, and regulatory updates.
This resource offers investors and analysts immediate access to critical updates including quarterly earnings reports, strategic partnerships, leadership changes, and compliance filings. Discover curated information on CATY's specialized services connecting US and Asian-Pacific markets through trade finance solutions and community-focused banking initiatives.
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Cathay General Bancorp (CATY) reported its unaudited financial results for Q1 2023, revealing a net income of $96.0 million, or $1.32 per share, reflecting a 1.6% decrease from Q4 2022. Despite a 3.1% increase in total deposits to $18.6 billion, the net interest margin fell to 3.74% from 3.87% in the previous quarter. Net interest income before provision for credit losses decreased by 4.7% to $192.4 million. The efficiency ratio was 40.3%, up from 38.0%. The provision for credit losses significantly rose to $8.1 million compared to $1.4 million in Q4 2022. Non-interest income increased by 18.2% to $14.2 million. Overall, while deposits rose, net income showed a slight decline with increased provisions indicating a cautious outlook.
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