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Malaysia’s CIMB to launch digital-only bank in Vietnam and the Philippines

  • Dec 7, 2017

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.

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