CIMB Group is one of the largest financial group in Malaysia as well as having the widest branch network in the ASEAN region. Its main market is in Malaysia, Indonesia, Singapore, Thailand and Cambodia with financial centers present in other ASEAN countries as well. The company’s core business is in the financial and investment sector. In Malaysia, CIMB Group operates the CIMB Bank network that include personal banking services, corporate, Islamic banking, takaful, wealth management and a string of other financial services.
With a staff force of more than 37,000 employees and has partnership dealings with other major regional financial groups including Principal Financial Group, Aviva plc, Bank of Tokyo-Mitsubishi UFJ, Standard Bank plc, Daishin Securities and the Kanoo Group and others. The banking group is a merger of various Malaysian banks with the anchor being the Bumiputera-Commerce Bank together and Southern Bank Berhad. CIMB was listed on the Main Board of Bursa Malaysia in January 2003. The Group Managing Director and Chief Executive Officer of CIMB Group is Dato’ Sri Nazir Abdul Razak, the brother of the prime minster of Malaysia, Datuk Seri Najib Abdul Razak
CIMB Group Holdings is no stranger to the financial market of Malaysia. In fact, it is one of the largest banks in the country together with renowned names like Maybank and Ambank.
CIMB Group Holdings is a major player in the money markets that involve many areas in terms of services. This include:
- Consumer banking
- Commercial banking
- Wholesale banking
- Islamic banking
- Asset management
Accolades and recognition
CIMB Group is currently not only among the largest banks in Malaysia but in ASEAN as well. it is also among the strongest players and one of the largest Islamic banks in the world today. In terms of sustainability and stock trading, CIMB Group is widely considered as one of the most stable because of its sound financial management and status. CIMB Bank is actually a merger of several banks over the years. This include:
- Bian Chiang Bank
- Ban Hin Lee Bank
- Bank Lippo
- Bank Niaga
- Southern Bank Berhad
- Bank Bumiputra Malaysia Berhad
- United Asian Bank Berhad
- Pertanian Baring Sanwa Multinational Berhad
The CIMB group has often been linked as a government-related financial institution. The fact that its group chairman is the brother of a former prime minister of Malaysia means that CIMB has very strong networks. However, the GE14 has changed the tide for CIMB and the future challenges will be stronger as ever for this banking group.
CIMB was formerly named as Commerce Asset-Holding Berhad or Bumiputra-Commerce Holdings Bhd.