Strategy is expected to help reduce cost-to-income ratios and support expansion in the region
According to Bloomberg, CIMB will launch a digital-only bank in Vietnam in January next year. The new bank will also offer services in the Philippines later in 2018.
Expected to help reduce cost-to-income ratios to almost 20% from the typical 50% as operations scale up are what motivate the bank’s digital-led growth strategy in the region.
In an interview with the journalists, CIMB revealed that it also intends to launch its digital-only bank in Thailand over the next two to three years.
We would like to hear any feedback or suggestions you have – either on this content, or on what you would like to see us produce going forward.
Plus – we want to hear about your news and any interesting developments at your firm.
Please email [email protected]