History of CIMB Group

CIMB Group is a universal bank headquartered in Kuala Lumpur, operating in high growth economies in ASEAN. An indigenous ASEAN investment bank, CIMB has a wide retail branch network with 1,080 branches across the region.

The group operates under several corporate entities, which include CIMB Investment Bank, CIMB Bank, CIMB Islamic, CIMB Niaga, CIMB Securities International and CIMB Thai.The group’s business activities are primarily in the areas of Consumer Banking, Wholesale Banking, comprising Investment Banking and Corporate Banking, Treasury & Markets, and Group Strategy & Strategic Investments, with its core markets being Malaysia, Indonesia, Singapore and Thailand. CIMB Islamic operates in parallel with these businesses, in line with the group’s dual banking model. The group has about 42,000 employees located in 17 countries, covering ASEAN and major global financial centres, as well as countries in which its customers have significant business and investment dealings.

The group’s geographical reach and its products and services are complemented by partnerships. Its partners include the Principal Financial Group, Bank of Tokyo-Mitsubishi UFJ, Standard Bank and Daewoo Securities, among others. Background of MayBank Maybank (MYX: 1155), a trade name for Malayan Banking Berhad is the largest bank and financial group in Malaysia,[3] with significant banking operations in Singapore, Indonesia and the Philippines.The bank also has large interests in Islamic banking through Maybank Islamic Berhad and insurance via its Etiqa subsidiary.

Maybank is the largest bank in Malaysia with 401 domestic branches. Maybank is the largest listed company on the Malaysian Stock Exchange, Bursa Malaysia, with a market capitalisation of RM77. 6 billion (USD25. 4 billion) as at 31 December 2012.

In 2008, Maybank completed the acquisition of 15% stake in An Binh Bank (Vietnam), 20% stake of MCB Bank Ltd and 97. 5% stake in Bank Internasional Indonesia (BII).In 2011, Maybank was ranked at 458th[4] in the Forbes Global 2000 Leading Companies. Maybank was founded by Malaysian business tycoon Khoo Teck Puat, who died in 2004.

The company was led by President and CEO Amirsham Abdul Aziz from 2002 until March 2008 after which he was appointed Minister in the Prime Minister’s Department in-charge of the Economic Planning Unit, a post he held until April 2009. Dato’ Sri Abdul Wahid Omar was President & CEO of Maybank Group from May 2008 to June 2013. The selection of a new President & CEO is ongoing.

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History of CIMB Group. (2017, May 22). Retrieved from https://graduateway.com/history-of-cimb-group/