Malaysia’s CIMB expands banking business in Philippines

MANILA, Philippines — Malaysia’s second largest financial services provider CIMB Group is dipping its hands in the investment banking business after formally launching its banking presence in the Philippines to complete its footprint in Southeast Asia.

​Effendy Shahul Hamid, chief executive officer of Group Ventures and Partnerships of the CIMB Group, said the Kuala Lumpur-based firm yesterday announced it received the green light from the Securities and Exchange Commission (SEC) for its investment banking joint venture called CIMB Bancom Capital Corp.

“We’re also fortunate to be able to announce the formalization of our investment banking joint venture, CIMB Bancom, that will look to deliver value added advisory and cross-border capital market services to Philippine corporates looking to expand and grow across ASEAN, as well as capitalize on CIMB’s strong presence in the region to originate inbound deals to the Philippines,” Effendy said. 

Read More:  The Philippine Star