Cathay General reports Q4 EPS $1.13, consensus $1.06

Reports Q4 NII $180.4M vs. $200.4M last year. The Company recorded a provision for credit losses of $1.7 million in the fourth quarter of 2023, compared to $7.0 million in the third quarter of 2023. As of December 31, 2023, the allowance for credit losses decreased by $2.4 million to $163.6 million, or 0.84% of gross loans, compared to $166.0 million, or 0.87% of gross loans as of September 30, 2023.