Topics: Southeast Asia, Financial services, Singapore Pages: 2 (511 words) Published: November 11, 2010
Background of CIMB Group
CIMB Group Holdings Berhad ( CIMB Group ) is Malaysia’s second largest financial services provider and one of the Southeast Asia’s leading universal banking groups. CIMB Group is listed on Bursa Malaysia via CIMB Group Holdings Berhad (formerly known as Bumiputra-Commerce Holdings Bhd). As at 20 November 2009, CIMB group was the third largest company on Bursa Malaysia with a market capitalization of approximately RM46.6 billion. After that, it has a market capitalisation of approximately RM49.4 billion as at 30 June 2010. CIMB group is also the majority shareholder of Bank CIMB Niaga in Indonesia, and the single largest shareholder of CIMB Thai in Thailand. CIMB has become one of the region’s top financial institutions because of its strong emphasis on developing leaders at all levels of the Group across the region. Through traditionally focused on investment banking, CIMB has bucked this and transform itself into a universal bank by offering a full range of financial products and services, covering corporate and investment banking, consumer banking, treasury, insurance and asset management. They operate their business on a dual banking basis through three main brand entities – CIMB Bank, CIMB Investment and CIMB Islamic – giving customers a choices of both conventional and Islamic solutions. With total staff strength of 36000, the Group reaches 58% of the ASEAN population, representing 80% of the ASEAN’s gross domestic product. Their retail network of 1150 branches is the largest in the Southeast Asian region. CIMB Group is headquartered in Kuala Lumpur, while its key operations are located in Malaysia, Singapore, Indonesia and Thailand. The Group also has presence in Brunei, Myanmar and Vietnam. Beyond ASEAN, the Group has offices in Hong Kong, Bahrain, London and New York, as well as a 19.99% stake in Bank of Yingkou, China which have significant business and investment dealings. CIMB Group’s vision is to be the Southeast Asia’s...
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