CIMB Group Holdings Berhad, commonly referred to as CIMB, is a leading financial institution based in Malaysia. Founded in 1924, the group has grown to become one of the largest banking organizations in Southeast Asia, with a presence in multiple countries including Malaysia, Indonesia, Thailand, Singapore, and Vietnam.
As such, CIMB is owned by its shareholders who are from various nationalities, but it can be considered a Malaysian company because it is headquartered in Kuala Lumpur, and the largest shareholder of the group is Khazanah Nasional Berhad, which is the sovereign wealth fund of the Malaysian government.
CIMB’s shareholders also consist of institutional investors, retail investors, and other corporate entities from around the world. Therefore, while CIMB operates globally, it is fundamentally a Malaysian-owned enterprise, with significant operations and business interests still located within its country of origin.
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Who is the owner of CIMB?
CIMB Group Holdings Berhad is a Malaysia-based financial services group, with headquarters in Kuala Lumpur. The company provides a wide range of financial products and services, including commercial banking, investment banking, asset management, and insurance.
The primary owner of CIMB is Khazanah Nasional, which is the Malaysian Government’s strategic investment fund. As of June 2020, Khazanah Nasional owned a 29.4% stake in the company. Other major shareholders of CIMB include the Employees Provident Fund (EPF) and Permodalan Nasional Berhad (PNB).
EPF is a Malaysian government agency that manages the mandatory savings plan and retirement benefits for private sector workers in Malaysia. As of June 2020, EPF held a 11.1% stake in CIMB.
PNB is a Malaysian government investment fund that primarily invests in equity securities. As of June 2020, PNB held a 7.8% stake in CIMB.
Apart from these major shareholders, CIMB also has several other institutional and retail investors who hold smaller stakes in the company. However, Khazanah Nasional remains the largest shareholder and is considered the owner of CIMB.
Is there CIMB in USA?
Unfortunately, there is no CIMB (Commerce International Merchant Bankers) branch or subsidiary located in the United States. CIMB is a Malaysian-based financial services firm that caters to businesses, investors, and consumers in the ASEAN (Association of Southeast Asian Nations) region. Although CIMB has established a global presence through its various subsidiaries, including CIMB Niaga in Indonesia, CIMB Thai in Thailand, and CIMB Securities International in Singapore, it has yet to expand to the American market.
However, CIMB has expressed its interest in penetrating the US market, citing the country’s robust economy and strong financial sector. In fact, CIMB has already partnered with several US-based companies, such as Ripple, to enhance its cross-border payments services. CIMB has also collaborated with a few US-based fintech startups to explore new digital banking solutions in Southeast Asia.
Despite these collaborations and partnerships, CIMB currently does not have a physical presence in the US, and its services are not available to American customers. Therefore, US-based individuals and businesses seeking financial services from CIMB will have to explore other options or wait for the bank to establish its presence in the country in the future.
What does CIMB stand for?
CIMB is a financial institution that operates in Malaysia, Indonesia, Singapore, Thailand, Cambodia, and Vietnam. It is one of the largest investment banks in the ASEAN region and offers a range of financial services including retail banking, commercial banking, investment banking, and asset management.
The name “CIMB” stands for Commerce International Merchant Bankers. It was initially established in 1971 as a merchant bank known as the United Asian Bank (UAB). In 1986, UAB merged with other banks to form Bumiputra-Commerce Bank (BCB), which later became known as CIMB Group Holdings.
Over the years, CIMB has expanded its services in the region through strategic partnerships and acquisitions. In 2005, it acquired G.K. Goh Securities, a Singapore-based stockbroking business, followed by several other acquisitions including PT Bank Niaga Tbk in Indonesia, and The Royal Bank of Scotland’s Asia-Pacific cash equities and associated investment banking businesses.
In 2013, CIMB merged with RHB Capital and Malaysia Building Society to form the CIMB Group.
CIMB’s mission is to empower its customers and contribute to the growth of the ASEAN region. It aims to be at the forefront of digital innovation and provide world-class banking services to its clients. Its vision is to be the leading ASEAN bank that offers innovative solutions and creates value for its stakeholders.
CIMB plays a significant role in driving economic growth in the ASEAN region by providing financial services to individuals and businesses.
How big is CIMB?
CIMB Group Holdings Berhad is one of the largest banking and financial services organizations in Asia. Headquartered in Kuala Lumpur, Malaysia, the company has an extensive network of over 1,000 branches and offices spanning 17 countries, including Malaysia, Indonesia, Singapore, Thailand, and the Philippines.
As of December 31, 2020, the total assets of CIMB Group Holdings Berhad amounted to RM658.8 billion, which is roughly around USD159 billion.
CIMB offers a wide range of banking and financial services, including retail banking, corporate and investment banking, Islamic banking, asset management, and insurance. The bank has established its presence in various business segments such as consumer banking, wholesale banking, ASEAN banking, and investment banking.
In 2020, the group’s revenue was estimated to be around RM18.63 billion, while its net income was reported to be around RM2.95 billion.
CIMB has received numerous accolades and recognition for being one of the top financial institutions in Asia. It has been ranked the ‘Best Digital Bank in ASEAN’ by Global Finance and Euromoney and ‘Best Consumer Digital Bank in Malaysia’ by Global Finance. CIMB was recognized as the ‘Asia’s Best Investment Bank’ by Euromoney Awards for Excellence, while the bank’s investment banking team was named the ‘Best Islamic Investment Bank in Asia’ by The Asset Triple A Islamic Finance Awards.
To sum up, CIMB is a sizable financial institution that continuously expands its business reach in Asia. The company offers an extensive range of financial services and has a vast network of branches and offices that cater to the diverse needs of its clients. With its strong reputation and impressive growth rate, CIMB is poised to strengthen its position as a leading financial institution in the ASEAN region and beyond.
Is CIMB a trusted bank?
CIMB Group, headquartered in Kuala Lumpur, is one of the largest financial institutions in Southeast Asia. It is a universal bank offering a wide range of financial products and services, including consumer banking, commercial banking, and investment banking.
In terms of ratings, CIMB has received several accolades for its banking services. In 2020, Euromoney named CIMB the Best Digital Bank in ASEAN. The same year, Global Finance magazine awarded CIMB the title of ‘Best Investment Bank’ in Malaysia. Additionally, in 2019, The Asset named CIMB ‘Bank of The Year’ in Malaysia.
CIMB has a strong presence in several Asian countries, including Malaysia, Indonesia, Thailand, and Singapore, and has been operating in the region for over 70 years. They have a robust regulatory framework and regulatory oversight, which enhances their financial stability.
CIMB is also committed to providing secure banking operations and protecting customer information. They have implemented various security measures to ensure the safety and confidentiality of their customers’ data, including 2-factor authentication for login and transaction authorization, encryption of sensitive customer data, and regular security training for employees.
Cimb is a well-established banking institution that has earned several awards and accolades for its financial services, has a long history in the region, and follows strict security measures to protect customer information. it is up to individuals to decide whether they trust CIMB or any other financial institution based on their own due diligence and experience.
What type of account is CIMB?
CIMB is a banking institution that offers various financial products and services, including savings and deposit accounts, credit cards, loans, and investment options, among others. Depending on the specific needs and preferences of their customers or clients, CIMB offers different types of accounts to cater to their various financial needs.
Some of the common types of accounts offered by CIMB include savings accounts, current accounts, fixed deposit accounts, and foreign currency accounts. Savings accounts allow customers to save their money while earning interest on their deposits. The interest rate may differ based on the type of savings account chosen and the amount of money deposited.
Current accounts, on the other hand, are ideal for businesses or individuals that require frequent transactions. Such accounts come with features such as cheque books, debit cards, overdraft facility, and online banking access.
Fixed deposit accounts are ideal for customers who prefer to earn higher interest rates on their deposits. These accounts require customers to deposit a specific amount of money for a predetermined period of time, with interest rates based on the deposit amount and the tenure.
Lastly, foreign currency accounts allow customers to hold and transact in different currencies, eliminating the need for foreign exchange transactions while traveling or dealing in foreign trade.
Cimb offers a range of account types to suit the varying financial needs of their clients or customers. Whether you are looking for a savings account, a current account, a fixed deposit account or a foreign currency account, CIMB has options that can cater to your requirements accordingly.
What is CIMB WhatsApp messaging?
CIMB WhatsApp messaging is a new feature offered by CIMB Bank, a leading financial institution in Southeast Asia. This feature allows customers to make banking transactions and receive assistance by simply communicating with the bank via WhatsApp, a popular messaging application. The feature is designed to make banking more convenient and accessible for customers by utilizing a platform that is familiar to most individuals.
CIMB WhatsApp messaging offers a plethora of benefits to customers. Firstly, it eliminates the need for customers to visit a bank branch or use telephone banking services, which can be time-consuming and frustrating. Customers can now perform various banking transactions such as checking account balances, transferring funds, paying bills, and requesting for account statements, among others, quickly and easily through the WhatsApp messaging feature.
This not only saves time but also reduces the overall burden of having to visit a bank and wait in queues.
Another advantage of the CIMB WhatsApp messaging feature is its simplicity and ease of use. Customers can communicate with CIMB Bank by simply adding the bank’s WhatsApp number to their contacts list and sending a message. The bank’s customer support team will promptly respond and assist with the customer’s request.
The feature is user-friendly, and customers can easily navigate through the options provided within the application.
Moreover, CIMB WhatsApp messaging feature prioritizes the security and confidentiality of customer information. This feature operates on an end-to-end encryption system, which ensures that customer data and transaction details are kept confidential and secure.
CIMB WhatsApp messaging feature is available 24/7, which means customers can access the service anytime, anywhere, without any limitations. This feature is particularly beneficial for customers who are always on-the-go and need quick access to banking services.
Cimb WhatsApp messaging is an innovative banking service that offers customers an easy and convenient way to perform banking transactions and access support services. It is an excellent solution for customers who prefer to do their banking through digital channels and wish to avoid the hassle of visiting a bank branch.
With this feature, CIMB Bank has truly revolutionized the way customers bank by offering a secure, reliable, and easily accessible banking solution.
Is CIMB a Visa or Mastercard?
CIMB is a financial institution that offers both Visa and Mastercard credit and debit cards. CIMB offers a wide range of cards that cater to the needs of different customers, including their preference for either Visa or Mastercard. CIMB’s Visa and Mastercard cards are widely accepted at merchants worldwide and provide various benefits, such as cashback, rewards points, and airport lounge access.
Customers can choose from different types of cards, such as cashback cards, travel cards, rewards cards, and more, with varying annual fees and credit limits. CIMB’s Visa and Mastercard offerings ensure that customers have access to a range of payment options and benefits that cater to their different preferences and lifestyles.
CIMB provides a comprehensive suite of financial solutions that include both Visa and Mastercard, ensuring that customers have access to a variety of credit and debit card options that suit their needs.
What is fund transfer CIMB?
Fund transfer CIMB refers to the process of transferring money from one CIMB account to another CIMB account. CIMB is a popular bank in Southeast Asia that offers a range of financial services to its customers, including fund transfer services.
Fund transfer CIMB allows customers to transfer money quickly and easily between their own CIMB accounts or to other CIMB accounts. This can be done through various channels, including online banking, mobile banking, ATM machines, or by visiting a CIMB branch.
One of the main advantages of fund transfer CIMB is its speed and convenience. Customers can transfer funds instantly, avoiding the need for time-consuming and cumbersome methods like writing checks or visiting physical branches. This is especially beneficial for people who need to transfer money quickly for urgent expenses or emergencies.
Another advantage of fund transfer CIMB is its security. CIMB uses industry-standard encryption and security measures to protect its customers’ data and money. Customers can also set up additional security features such as two-factor authentication or SMS alerts to further protect their accounts.
In addition to transferring money between CIMB accounts, fund transfer CIMB also allows customers to send money to other banks in Malaysia or overseas. This can be done through CIMB’s international fund transfer service, which enables customers to securely send money to over 200 countries worldwide.
Fund transfer CIMB is a reliable and efficient service that makes managing finances more convenient for customers. With its fast and secure functionalities, CIMB’s fund transfer services have become an integral part of the banking experience for many Malaysians and other Southeast Asian nationals.
Is CIMB Islamic Bank?
Yes, CIMB Islamic Bank is an Islamic banking subsidiary of the CIMB Group Holdings Berhad, a leading universal bank in Asia. CIMB Islamic Bank operates based on Sharia principles and strictly adheres to ethical practices in its banking activities.
CIMB Islamic Bank offers a range of Sharia-compliant financial products and services, including banking accounts, investment accounts, financing, and takaful. Its operations are supervised and monitored by Sharia committees to ensure that the bank’s activities are in line with Islamic financial principles.
CIMB Islamic Bank operates in countries such as Malaysia, Indonesia, Singapore, Thailand, and Cambodia, and has received several awards for its excellent service in the Islamic banking sector. The bank also focuses on providing financing solutions to small and medium enterprises (SMEs) to help them grow their businesses and contribute to the economy.
Cimb Islamic Bank is a reliable and trusted financial institution for those looking to invest or access Islamic banking services. It is committed to providing innovative solutions to meet the financial needs of its customers while adhering to ethical and Sharia-compliant practices.
Is CIMB Bank and CIMB Islamic the same?
CIMB Bank and CIMB Islamic are two different entities under the CIMB Group. While both are part of the same conglomerate, they operate differently and have distinct offerings.
CIMB Bank is a conventional bank that provides a wide range of banking services to its customers, including personal banking, investment banking, and corporate banking. As a conventional bank, CIMB Bank’s services are based on interest rates and traditional banking practices.
On the other hand, CIMB Islamic is an Islamic bank that adheres to Shariah principles and offers Islamic financial services. Unlike conventional banks, CIMB Islamic does not use interest rates but instead uses Islamic financing principles that are compliant with Shariah law.
The key difference between the two is that CIMB Islamic operates in accordance with Islamic financing principles, while CIMB Bank does not. CIMB Islamic follows a profit-and-loss sharing system, whereas CIMB Bank charges interest for its services. CIMB Islamic offers Shariah-compliant products such as Islamic savings accounts, home financing, personal financing, and more.
It is important to note that even though CIMB Islamic operates based on Islamic financial principles, it is still regulated by the same government and regulatory bodies as CIMB Bank. Both entities operate as separate legal entities, but are both part of the CIMB Group.
Cimb Islamic and CIMB Bank are not the same, as they operate based on different principles and offer different financial services. While CIMB Bank follows conventional banking practices, CIMB Islamic is focused on providing Shariah-compliant financial services to its customers.
Which are Islamic banks?
Islamic banks are financial institutions that operate under the principles and guidelines of Islamic law or Shariah law. Islam has its own unique perspective on economics and finance and advocates a way of doing business that is founded on ethical and moral principles. Islamic banks are rapidly growing in popularity and prevalence around the world, with the global Islamic finance industry being estimated to be worth over $2 trillion.
Islamic banks operate differently from conventional banks in that they provide financial services that comply with the principles of Shariah. These principles prohibit the collection and payment of interest (known as riba), gambling, speculation, and any other activities that are deemed unethical or harmful to society.
Rather than interest, Islamic banks offer profit sharing, leasing, and partnership financing as methods of generating revenue.
Some of the best-known Islamic banks include Dubai Islamic Bank, Suadi British Bank, and Kuwait Finance House. There are also many other small and large banks that operate according to Islamic principles in countries such as Malaysia, Indonesia, Turkey, and Egypt.
Islamic banks offer a range of financial products and services such as savings accounts, current accounts, home and car financing, and investment products. These services operate similarly to those offered by conventional banks, but with the added consideration of being governed by Islamic principles.
The growth of Islamic banking has been driven by the increasing demand for alternative financial services and the concept of ethical finance. Islamic banks aim to support economic growth and development without causing harm to society, as this is deemed contrary to the principles of Islam. They also provide a platform for Muslim individuals and businesses to access financial services that are in line with their beliefs, values, and principles.
Islamic banks are financial institutions that provide financial services and products according to Islamic principles and guidelines under Shariah law. These banks have become increasingly popular around the world, providing an ethical and just alternative to traditional finance.
Is it safe to bank with CIMB?
CIMB is a reputable bank that operates in various countries, including Malaysia, Singapore, Indonesia, Thailand, and the Philippines. They have been in operation for over 100 years and are considered one of the largest banks in ASEAN with over 15 million customers.
CIMB is regulated by the relevant authorities in each country in which it operates. It is regulated by the Bank Negara Malaysia in Malaysia, the Monetary Authority of Singapore in Singapore, and the Otoritas Jasa Keuangan in Indonesia, just to mention a few. These regulatory bodies ensure that CIMB maintains proper corporate governance, compliance, and risk management practices to protect its customers.
CIMB also has various security measures in place to protect its customers’ data and money. For example, CIMB offers its customers 24/7 fraud monitoring, and CIMB Clicks offers a dual-layer security feature that requires a one-time password to be sent to the customer’s registered mobile number before they can log in.
Moreover, CIMB has won many awards for its banking services and products over the years, demonstrating its commitment to providing customers with high-quality services that meet their banking needs.
Based on the information above, CIMB appears to be a safe bank to choose as your banking partner. However, it is important to conduct personal research and due diligence to determine the best banking partner for your specific needs and circumstances.
What is so special about CIMB Bank?
CIMB Bank is a leading financial institution with a remarkable reputation and a solid track record of providing top-notch financial services to customers. The bank is renowned for its innovative services, innovative products, and exceptional customer service.
One of the factors that make CIMB Bank so special is its extensive network of branches and ATMs. This vast network ensures that customers have easy access to banking services, regardless of their location. With branches and ATMs spread throughout Malaysia, Singapore, Indonesia, Thailand, Cambodia, and Vietnam, customers can always count on CIMB Bank to provide them with convenient and reliable banking services.
Another unique aspect of CIMB Bank is its commitment to innovation and technology. The bank has made significant investments in technology to ensure that its products and services are always up-to-date and meet the evolving needs of customers. For instance, the bank has introduced various digital banking solutions such as mobile banking, internet banking, and virtual assistants, which make banking more accessible and convenient.
CIMB Bank is also committed to providing customers with tailored financial solutions that meet their specific needs. With a range of products and services, including personal loans, credit cards, investments, and insurance, the bank ensures that customers can access financial solutions that suit their unique circumstances.
Furthermore, CIMB Bank is known for its exceptional customer service. The bank has a team of dedicated professionals who work tirelessly to ensure that customers receive prompt, efficient, and personalized service. Whether it’s answering customer queries or resolving issues, CIMB Bank’s customer service team is always on hand to provide assistance.
Cimb Bank is a unique financial institution that stands out from its competitors due to its extensive network, commitment to innovation and technology, tailored financial solutions, and exceptional customer service. These factors make CIMB Bank an excellent choice for anyone looking for reliable, convenient, and customer-focused financial services.
