CIMB Launches Its Banking Presence in the Philippines

Stocks and Financial Services Press Releases Tuesday January 29, 2019 17:39
Bangkok--29 Jan--CIMB Thai Bank

CIMB today announced the formal launch of its banking presence in the Philippines. Its flagship presence, CIMB Bank Philippines Inc. ("CIMB Philippines" or "the Bank") aspires to be the nation's first all-digital and mobile-first bank, promising to make banking simpler, more convenient, and truly hassle-free.

The launch event today was held at the Manila House Private Members Club in Bonifacio Global City, Taguig, and it was graced by BSP Deputy Governor, Chuchi G. Fonacier, and CIMB Group Chairman, Datuk Mohd Nasir Ahmad.

At the launch, Effendy Shahul Hamid, CEO of Group Ventures and Partnerships, CIMB Group said, "We are extremely pleased to begin serving customers in the Philippines. This completes CIMB's operating footprint in ASEAN and we look forward to bringing a truly differentiated and digital proposition to the market. Internet and mobile penetration in the Philippines remains one of the highest in the world, a clear sign of the progressive and modern society we hope to serve."

Vijay Manoharan, CEO of CIMB Philippines, shared details on how CIMB Philippines aims to provide a new banking experience for Filipinos. "Consumers of today and tomorrow need innovative financial solutions that are relevant to their needs as well as help them get ahead and advance their financial well-being, but they don't necessarily need a physical bank. By offering most of our products via the OCTO app securely, we are offering the next-level any day, any time convenience for our customers by enabling them to effectively 'carry' our bank branch in the palm of their hands."

CIMB Philippines' partners include 7-Eleven and DragonPay, with a total of 8,000 convenient customer touchpoints nationwide. The CIMB Bank VISA-powered Debit Card is accepted at any of the 20,000 Bancnet, VISA, and VISA Plus Automatic Teller Machine ("ATM"s) nationwide and two million VISA and VISA Plus ATMs worldwide.

To cater to those who want to really start preparing for what's ahead and save for the future, CIMB Bank offers the UpSave Account, which allows greater savings with its high interest rate of 2% per annum (8x higher than other banks). CIMB Philippines' retail banking convenience is powered by the OCTO app, which can be downloaded from the Apple App store or Google Play. To learn more, visit www.cimbbank.com.ph or like our Facebook page, www.facebook.com/CIMBBankPH and follow @CIMBBankPH on Instagram.

In conjunction with the launch of CIMB Philippines, CIMB also announced that it had received regulatory approval from the Securities and Exchange Commission of the Philippines for its investment banking joint-venture in the country, CIMB Bancom Capital Corporation ("CIMB Bancom"). On this, Shahul Hamid said, "We're also fortunate to be able to announce the formalization of our investment banking joint venture, CIMB Bancom, that will look to deliver value added advisory and cross-border capital market services to Philippine corporates looking to expand and grow across ASEAN, as well as capitalize on CIMB's strong presence in the region to originate inbound deals to the Philippines."

About CIMB Bank Philippines

CIMB Bank, ASEAN's Top 5 largest bank present in over 16 global markets, has extended its reach in 2018 by providing Filipinos a whole new banking experience. CIMB Bank Philippines Inc. is an all-digital mobile bank headquartered in Bonifacio Global City, Metro Manila, Philippines.

CIMB Bank Philippines offers 24/7 safe and secure banking with their seamless account opening in 10 minutes, the best in market rates, no initial deposit or maintaining balance requirements, convenient deposit and withdrawal locations, and zero transaction fees, all done through OCTO by CIMB Bank mobile app.

To learn more, visit us at www.cimbbank.com.ph or like us on Facebook and follow us on Instagram @CIMBBankPH. Download OCTO by CIMB Bank in App & Play stores today.
About CIMB Bancom Capital Corporation

CIMB Bancom Capital Corporation is an investment house licensed by the Securities and Exchange Commission of the Philippines to carry out investment banking business in the Philippines. CIMB Bancom is jointly owned by CIMB Group Sdn Bhd, Bancom II Consultants, Inc. and PLP Group Holdings, Inc.

About CIMB Group

CIMB Group is one of ASEAN's leading universal banking groups and is Malaysia's second largest financial services provider, by assets. It offers consumer banking, commercial banking, investment banking, Islamic banking and asset management products and services. Headquartered in Kuala Lumpur, the Group is present in all 10 ASEAN nations (Malaysia, Indonesia, Singapore, Thailand, Cambodia, Brunei, Vietnam, Myanmar, Laos and Philippines). Beyond ASEAN, the Group has market presence in China, Hong Kong, India, Sri Lanka, Korea, the US and UK.

CIMB Group has the most extensive retail branch network in ASEAN of around 800 branches as at 30 September 2018. CIMB Group's investment banking arm is also one of the largest Asia Pacific-based investment banks, offering amongst the most comprehensive research coverage of around 600 stocks in the region.

CIMB Group operates its business through three main brand entities, CIMB Bank, CIMB Investment Bank and CIMB Islamic. CIMB Group is also the 92.5% shareholder of Bank CIMB Niaga in Indonesia, and 94.8% shareholder of CIMB Thai in Thailand.

CIMB Group is listed on Bursa Malaysia via CIMB Group Holdings Berhad. It had a market capitalisation of approximately RM 56.3 billion as at 30 September 2018. The Group has around 36,000 employees located in 16 countries.


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