CIMB launches banking presence in Philippines

MANILA – CIMB Bank, one of the five largest banks in Asean, officially launch its presence in the Philippines, becoming the nation’s first all-digital and mobile-first bank and promising to make banking simpler, more convenient, and truly hassle-free.

CIMB Philippines was launched on Tuesday at the Manila House Private Members Club in Bonifacio Global City, Taguig. The launch was graced by the presence of BSP Deputy Governor, Chuchi G. Fonacier, and CIMB group chairman, Datuk Mohd Nasir Ahmad.

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).

At the launch, Effendy Shahul Hamid, CEO of group ventures and partnerships, said the bank is dedicated to expanding the country’s offer of digital solutions.

“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,” said Mr Shahul Hamid at the launch.

Vijay Manoharan, CEO of CIMB Philippines, shared details on how the bank aims to provide a new banking experience for Filipinos.

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