Cathay General Bancorp (CATY), the holding company of Cathay Bank, is ranked #8 on the 2022 S&P Global Market Intelligence ranking of U.S. public banks by financial performance.
“We are proud to receive this recognition again,” said Mr. Chang M. Liu, President and CEO. “Our success is a direct correlation to how we deliver client experience. All of us here at Cathay Bank work together as a team to better serve and engage with each one of our clients. This award belongs to our entire team due to their hard work and dedication.”
According to S&P Global Market Intelligence, the financial performance scores for the top-ranked banks in 2022 were significantly compressed relative to 2021—due to new challenges proposed by rising interest rates which lifted net interest margins for most in the industry. This fueled net interest income growth and translated into higher earnings and revenue growth rates, including high profitability. In conclusion, comparable ranking metrics improved last year, except for net charge-offs to average loans.
The S&P Global Market Intelligence ranked companies, using calendar-year data and GAAP data, based on three major categories and weight: growth (35%), profitability (35%), and safety and soundness (30%).
This year, S&P Global Market Intelligence ranked the 2022 financial performance of operating U.S. public banks, as of March 14, with total assets exceeding $10 billion as of December 31, 2022. Industries were classified according to the Global Industry Classification Standard of S&P Global Market Intelligence.
From S&P Global Market Intelligence © 2023 S&P. All rights reserved. Used under license.
This article does not constitute legal, accounting or other professional advice. Although the information contained herein is intended to be accurate, Cathay Bank does not assume liability for loss or damage due to reliance on such information.