CIMB Bank, CIMB Berhad

By: EconomyWatch Content   Date: 29 October 2009

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CIMB Bank is the banking arm of CIMB financial group, with its headquarters in Malaysia. It offers retail, investment, Islamic and private banking services to consumers spread across 10 nations.

CIMB Bank: Company Profile

CIMB Bank is the product of several mergers and acquisitions in the history of Malaysian economy. The name CIMB or Commerce International Merchant Bankers Berhad appeared after the Bank of Commerce Berhad bought major stakes in Pertanian Baring Sanwa Multinational Berhad (PBS). In 2006, the bank underwent a major makeshift to reflect its global presence. This was followed by the establishment of CIMB group.

CIMB Berhad offers banking and investment services to approximately 5.3 million customers in Malaysia (according to 2009 data). The bank has a country-wide network of 2100 self-service centers and 367 branches. CIMB Berhard was named Malaysia’s Bank of the Year by The Banker magazine, a global financial magazine. It also bagged the award for Asia’s Most Improved Retail Bank offered by Asian Banking and Finance magazine.

PT Bank CIMB Niaga Tbk offers services to Indonesian customers. It is the sixth largest bank in Indonesia by assets (according to the November 2008 data) and has over 650 branches across the island nation. In Thailand, CIMB has major stakes in BankThai. It is the 11th largest bank in Thailand (according to 2009 data) with 147 branches. CIMB bank also operates commercial branches in Hong Kong and London.

CIMB Bank offers the following banking services to its customers in different nations:

  • Consumer Banking

  • Investment Banking

  • Islamic Banking

  • Private Banking

  • Asset Management

  • Insurance

CIMB Bank: Consumer Banking

CIMB Bank offers consumer banking to retail and business clients. Products and services offered under consumer banking are:

  • Deposits – savings, current and investment

  • Checking account

  • Credit cards – standard, gold, platinum and affinity cards

  • Lending – property and personal financing

  • Asset management – retirement, bonds and share trading

  • Online banking

CIMB Bank: Islamic Banking

To reach out to the wider community, CIMB Bank has developed Islamic banking services, in-line with Shariah principles. Bank offers core banking services to businesses and individuals under Islamic banking. Shariah advisory services are also available for investment and asset management.

CIMB Bank was recognized as the Best Provider of Islamic Financial Services in Asia (2004) by Euromoney, an international banking finance and current market news and analysis magazine.


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