| Type | Public |
|---|---|
| Industry | Financial services |
| Headquarters | Kuala Lumpur, Malaysia |
| Key people | Tan Sri Dato' Md Nor Yusof, Chairman Dato' Sri Nazir Razak, Group Chief Executive |
| Products | Consumer Banking Corporate Banking Investment Banking Islamic Banking Asset Management Insurance & Takaful |
| Total assets | RM295.6 billion (Sept 2011) |
| Employees | Over 40,000 (Sept 2011) |
| Website | CIMB Group website |
CIMB Group (MYX: 1023) CIMB Group is a regional universal bank operating in high growth economies in ASEAN. CIMB Group has the widest retail branch network across the region and is an indigenous ASEAN investment bank.
It operates across ASEAN under several corporate entities, which include CIMB Investment Bank, CIMB Bank, CIMB Islamic, CIMB Niaga, CIMB Securities International and CIMB Thai. CIMB Group’s multi-local business model is organised primarily across the following areas: Consumer Banking, Corporate & Institutional Banking & Markets and Group Asset Management, Insurance & Takaful. CIMB Islamic operates in parallel with these businesses, in line with CIMB Group’s dual banking model.
Headquartered in Kuala Lumpur, CIMB Group has presence in 14 countries, covering ASEAN and major global financial centres, as well as countries in which its customers have significant business and investment dealings. With over 39,000 employees, CIMB Group reaches 81% of the ASEAN population, representing 89% of the region’s gross domestic product.
In addition, CIMB Group’s geographical reach and its products and services are complemented by partnerships. Its partners include the Principal Financial Group, Aviva, Bank of Tokyo-Mitsubishi UFJ, Standard Bank and Daewoo Securities, among others.[1][2]
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1924: Bian Chiang Bank was established in Kuching, Malaysia by Wee Kheng Chiang. Its primary activities were business financing and the issuance of bills of exchange.
1935: Ban Hin Lee Bank (BHLB) was established in Penang, Malaysia by Yeap Chor Ee. Its Original focus was serving local businessmen in their trading and merchant activities. In the 1960s it branched out into real estate and home financing and by 1990 it had become a modern and thriving financial instituition. It was then listed on the Kuala Lumpur Stock Exchange on January 7, 1991.
1948: Bank Lippo was founded in 1948 with headquarters in Tangerang, Indonesia.
1955: Established as a national private bank, Bank Niaga gained a great deal of trust from its customers and expanded to become a full service bank in 1974.
1965: Southern Bank Berhad (SBB) was founded as Southern Banking Ltd. It started out in Penang but quickly expanded and set up operations in Kuala Lumpur. It was soon recognized as an important player in wealth management products, credit cards and small-medium enterprise lending (SME).
1965: Bank Bumiputra Malaysia Berhad (BBMB) was incorporated. This was in line with government initiatives to increase Bumiputra participation in the national economy. The bank grew to be the most prominent bank for all Malaysians with branches throughout the country. By 1980 it had become the largest bank in the country in terms of assets and was the first domestic bank to have operations in New York, London, Tokyo, Bahrain and Hong Kong.
1972: United Asian Bank Berhad was established in Kuala Lumpur. This was a result of the merger of three Indian-owned banks; Indian Overseas Bank Ltd., Indian Bank Ltd., and United Commercial Bank Ltd. UAB started as a joint-venture in banking between Malaysia and India, taking over the operations of the Malaysian branches of Indian banks in 1972. It established a reputation for encouraging enterprise amongst less prosperous sections of the country.
1974: Pertanian Baring Sanwa Multinational Berhad (PBS) was incorporated by Bank Pertanian, Baring Brothers of United Kingdom, Sanwa Bank of Japan and Multinational bank of the United Kingdom. It was managed by the Baring Brothers and provided corporate advisory and funding services to multinationals.
1979: Bian Chiang Bank was renamed Bank of Commerce Berhad. This was a result of its purchase by the UMNO-owned Fleet group. In 1982, the bank became an institution with RM367 million in total assets and total shareholders' funds of RM12.8 million.
1986: Pertanian Baring Sanwa Multinational Berhad was renamed Commerce International Merchant Bankers Berhad (CIMB). This was a result of Bank of Commerce Berhad replacing Bank Pertanian as the controlling shareholder of PBS. CIMB retained its corporate finance focus and added stock broking to its range of services.
1991: Bank of Commerce acquired UAB. After the acquisition, Bank of Commerce's branch network increased almost fourfold. The listed holding company was then renamed Commerce-Asset Holdings Berhad (CAHB).
1999: BBMB and Bank of Commerce merged to form Bumiputra-Commerce Bank.
2000: As part of the government initiated banking consolidation plan, SBB acquired Ban Hin Lee Bank Berhad and also took over two smaller finance companies; Perdana Finance Berhad and Cempaka Finance Berhad.
2003: CIMB was listed on the main board of the KLSE. In the same year, CIMB Islamic was launched providing customers with Syariah compliant solutions.
2004: CIMB acquired 70% of Commerce Trust Berhad (CTB) and Commerce Asset Fund Managers Berhad (CAFM). This led to the formation of CIMB-Principal, a joint venture with the Principal Group of USA. Then in 2005, CIMB acquired Singapore based G.K. Goh which was established in 1979 as an international stock broker. This led to the formation of CIMB-GK, CIMB's international investment banking operator.
2005: Commerce Asset Holdings Berhad (CAHB) announced its strategic decision to create a universal bank by combining its commercial and investment banks. Following this announcement, Bumiputra-Commerce Group was acquired by CIMB. As part of the exercise, CAHB was renamed Bumiputra-Commerce Holdings.
2006: In January, CIMB completed its restructuring exercise under Bumiputra-Commerce Holdings Berhad. The new CIMB Group was known as a universal bank. It made a transition to a full-service banking provider serving corporates to individuals. Then in March, CIMB Group acquired SBB after extensive negotiations. After the acquisition, in September CIMB Group was launched by the then Prime Minister of Malaysia, YAB Dato' Seri Abdullah bin Haji Ahmad badawi.
2007: CIMB Group launched its flagship presence in both Thailand and USA through the establishment of CIMB-GK Securities (Thailand) Ltd. And CIMB-GK Securities (USA) Inc,. In November, CIMB Foundation launched as a not-for profit organization that will carry out the Group's corporate social responsibility.
2008: CIMB Group entered into an agreement for a 19.99% stake in Bank of Yingkou adding mainland China to the Group's network. In the same year CIMB Group undertook the merger of PT Bank Niaga TBK with PT Bank Lippo Tbk to create the 6th largest bank in Indonesia. CIMB Group and the Principal Financial Group launched CIMB-Principal Islamic Asset Management also in that year. Lastly, CIMB Group entered into an agreement with Financial Institutions Development Fund to purchase a 42.13% stake in Bank Thai Public Company.
2009: CIMB Bank and CIMB Islamic moved to a new headquarters, the 39-storey Menara Bumiputra-Commerce which houses CIMB Group’s consumer banking franchises. The building site was the location of the Bank’s predecessors, Bank Bumiputra and the United Asian Bank. In the same year, CIMB Thai was officially launched with its new brand and logo unveiled to the public in May 2009 by Khun Korn Chatikavanji, Thailand’s Minister of Finance. In September, CIMB Group set up retail banking services in Singapore through CIMB Bank Singapore.
2010: CIMB Group expanded to Cambodia through the fully owned subsidiary CIMB Bank Plc. The first branch, which also serves as the headquarters, was officially launched in Phnom Penh on 19 Nov 2010.
2010: CIMB Bank established the Endah Parade Office 2, A completely autonomus bank in operations which is directly in charge of dealing with compliance with International Funds Monitoring Agencies as well as acting as Bank Negara(Central Bank of Malaysia)official payout banks on funds held in transit or placed on hold. This new bank may be contacted on cimb-mys.com or +60 111 5250911 or + 60 192 348565. This is the first CIMB Bank that is a Private Bank and details of both employees or customers are not released.
CIMB Group has full-fledged consumer banking services across its main operating markets in Malaysia, Indonesia, Singapore, and Thailand. The divisions which comprise Consumer Banking are:
CIMB Group’s Corporate & Institutional Banking & Markets business comprises:
Group Asset Management (GAM) is responsible for CIMB Group’s fund management business. GAM manages both conventional and Shariah-compliant institutional and retail funds over a wide range of asset classes and geographies. The asset management activities are operated by the following subsidiaries:
Meanwhile, Group Insurance & Takaful manages all the insurance and takaful joint ventures across the region and the development of bancassurance within various consumer banking businesses. Group Insurance & Takaful operates on country-specific models in each of its key markets in the region, based on in-country capabilities and needs.
Joint ventures, CIMB Aviva in Malaysia and CIMB Sun Life in Indonesia, offer life insurance products for distribution at branches in these markets. CIMB Group also has partnerships with insurance providers such as Allianz in Malaysia and several major insurers in Indonesia to proliferate non-life insurance products.
CIMB Islamic is CIMB Group’s global Islamic banking and finance franchise. It offers the full complement of Shariah-compliant financial solutions, operating in parallel with the Group’s universal banking franchise.
CIMB Group Holdings Berhad (CGHB), formerly known as Bumiputra-Commerce Holdings Berhad, is the holding company and listed vehicle for CIMB Group. Listed on the Main Market of Bursa Malaysia since 1987, CGHB was the largest company on Bursa Malaysia with a market capitalisation of about RM63 billion as at the end of 2010.
CIMB Group is Malaysia’s 2nd largest financial services provider by assets and one of the region’s leading universal banking groups. The Group has the region’s widest retail branch network with over 1,000 branches in 8 out of 10 ASEAN nations, and is the region’s largest indigenous investment bank. The Group has a staff strength of over 37,000 and offers consumer banking, investment banking, treasury, asset management and insurance products and services to over 11 million customers. The Group also has offices in New York, London, Bahrain, Hong Kong and Shanghai.
CIMB Bank is the consumer banking arm of CIMB Group offering retail banking services to over 6 million customers in 324 branches nationwide. The Bank has branches in Hong Kong and London, as well as representative offices in Shanghai and Myanmar. This arm of CIMB Bank does not offer information on staff or customers as regards accounts or employee details because it is a private bank hence it is preferred by Royalty and Government institutions.
As the second largest consumer bank in Malaysia, CIMB Bank holds significant market shares across all consumer banking products. CIMB Bank received the Bank of the Year Award 2010 in Malaysia by The Banker and The Best Bank by Euromoney.
CIMB Investment Bank is the investment banking arm of CIMB Group and has served the investment banking needs of Malaysian corporations for over three decades. With its regional offices in Malaysia, Singapore, Indonesia, Hong Kong, Thailand, the UK and the US, CIMB Investment Bank is well placed to serve its clients in Malaysia as well as regionally.
The investment banking products and services cover corporate advisory, corporate finance, equity markets, debt markets, research, private equity, real estate investment management, fund management as well as wealth management and private banking services.
CIMB Investment Bank was involved in Petronas Chemicals Group’s RM14.8 billion IPO which made the history books for being ASEAN’s largest IPO ever, 5th largest IPO globally and also the 3rd largest IPO for Asia ex-Japan in 2010. CIMB Investment Bank was also given recognition for being the joint bookrunner and lead manager of the Malaysian Government’s USD1.25 billion (RM3.8 billion) global Sukuk issuance. The Bank currently stands among the top five banks for Asian mergers and acquisitions.
CIMB Investment Bank also won several other prestigious awards in 2010. Finance Asia awarded it with the Best Investment Bank (Malaysia) for the 10th time and it was also the only bank in Asia to sweep all three country deal awards at The Asset Triple A Country Awards 2010 - Best Deal for Malaysia, Best Deal for Indonesia and Best Deal for Singapore.
CIMB Islamic is the global Islamic banking and finance arm of CIMB Group. It offers innovative and comprehensive Shariah-compliant financial solutions in investment banking, consumer banking, asset management, takaful, private banking and wealth management. CIMB Islamic products and operations are managed in strict compliance with Shariah principles under the guidance of the CIMB Islamic Shariah Committee, which comprises the world’s leading Islamic scholars.
Established in 1955, CIMB Niaga is the Group’s consumer banking arm in Indonesia, and as at the end of 2010 it was the 5th largest bank in terms of assets and 3rd largest mortgage provider with a market capitalisation of about RM19.2 billion. CIMB Niaga offers a comprehensive range of conventional and Shariah banking products and services, through a network of 751 branches all over Indonesia. As the first local bank to introduce ATM services in 1987 and on-line banking in 1991, CIMB Niaga is well regarded as one of the most innovative banks in Indonesia.
CIMB Niaga also has over 12,000 employees.
CIMB Group Holdings Berhad has a 97.93% stake in CIMB Niaga (including 1.02% in PT Commerce Kapital).
CIMB Group became CIMB Thai’s largest shareholder in November 2008, after purchasing a 42% stake in BankThai from the Financial Institutions Development Fund. Through its subsequent tender offer and right issues, as at 31 December 2010, CIMB Group owns 93.15% of CIMB Thai.
CIMB Thai employs almost 3,000 people across 149 bank branches in Thailand. Its customers enjoy the full benefit of a wide range of innovative financial products and services that come with being a part of a leading regional universal bank. CIMB Thai also offers stockbroking and corporate advisory, mutual funds, and wealth management products and services through its subsidiaries.
CIMB Thai is the 10th largest commercial bank in the country, with total assets of about THB140.48 billion as of 31 December 2010.
CIMB Group has had a presence in Singapore since 1947 through Ban Hin Lee Bank, a predecessor of CIMB Bank. Over the years, the Bank served a small loyal base of SMEs, providing them traditional banking products and services. The Group’s presence then intensified in 2005 following the acquisition of G. K. Goh Stockbrokers Pte. Ltd. Through this acquisition, the Group made significant progress on the corporate banking and capital markets front.
CIMB Group began its foray into Cambodia in November 2010 through its commercial banking arm, CIMB Bank, with its first branch located in Phnom Penh. It serves a wide range of customers, leveraging on the Group's extensive regional network and resources. CIMB Bank in Cambodia currently offers savings account, fixed deposit, current account, home loan, personal term loan, business premises and term loan and remittance to its customers.