CIMB Makes Digital Banking Push, Starting With Vietnam Next Year
- Malaysian bank will also start digital bank in Philippines
- Will work with partners to ‘build a strong ecosystem’: CEO
This article is for subscribers only.
CIMB Group Holdings Bhd. is making a push into digital banking in Southeast Asia, starting with Vietnam, as Malaysia’s second-biggest bank by assets seeks to expand in the region without swelling costs.
The Kuala Lumpur-based lender will launch its first fully digital bank in Vietnam in January, followed by the Philippines, where it has received a license, Chief Executive Officer Tengku Zafrul Abdul Aziz said in an interview in Jakarta on Wednesday. Both markets are new to CIMB.