CIMB collaborates with China CITIC Bank to strengthen China-ASEAN financial connectivity

^{Pictured at the LOI signing ceremony are senior representatives from both banks. Qi Wenhong, General Manager of International Business Department, China CITIC Bank (fourth from left); Lu Jingen, Head Office Business Director, China CITIC Bank (middle); Chu Kok Wei, Chief Executive Officer, Group Wholesale Banking, CIMB (fourth from right); Beh Sui Chung, Managing Director and Head of Financial Institutions, CIMB (third from right); and Sean Liu, Head of Financial Institutions, CIMB Shanghai Branch (second from right).}


Partnership to support both banks’ clients’ business operations and expansion across China– ASEAN corridor through more seamless cross-border banking and financing solutions 


KUALA LUMPUR, June 10 (Bernama) -- CIMB Bank Berhad (“CIMB Bank” or “CIMB”) has recently signed a Letter of Intent (“LOI”) with China CITIC Bank Corporation Limited (“China CITIC Bank”) to strengthen financial connectivity between China and ASEAN, particularly in Malaysia and Indonesia, by facilitating bilateral trade, cross-border financing and investment flows across the region. The partnership, which leverages China CITIC Bank’s robust onshore network in China and CIMB’s extensive ASEAN footprint, will support these objectives by providing clients of both banks with more seamless access to a comprehensive suite of banking solutions spanning trade transactions, payments and cross-border financing to support their operational and expansion needs.  
 
The partnership will also support Chinese Yuan Renminbi (“RMB”) and foreign currency payment and clearing capabilities, including potential access to China’s Cross-Border Interbank Payment System (“CIPS”), interbank RMB funding arrangements and offshore lending into ASEAN markets, further strengthening financial linkages across the China-ASEAN corridor.
 
Beyond product and financing solutions, both banks will explore head-office-level communications to streamline cross-border treasury and cash management capabilities, including account opening, maintenance and management services to local enterprises. This is expected to strengthen operational coordination across both banks’ head offices and branches, enabling clients to manage their cross-border transactions more efficiently as they expand across the China-ASEAN corridor.
 
Another key aspect of the partnership is both banks’ commitment to supporting clients’ expansion across China and ASEAN. Through mutual client referrals and advisory services, both banks will support clients in navigating market entry, fulfilling regulatory requirements, executing cross-border transaction and pursuing mergers and acquisition opportunities. In addition, both banks will explore syndicated loans collaboration across global primary and secondary markets to broaden clients’ access to regional and international financing opportunities.
 
Chu Kok Wei, Chief Executive Officer, Group Wholesale Banking, CIMB said, “As trade, investment and supply chain linkages between China and ASEAN continue to deepen, businesses increasingly require banking partners that can help them navigate both markets more seamlessly. CIMB has a strong presence in ASEAN, and we are best-positioned to connect clients to opportunities across the China–ASEAN corridor through more integrated trade, financing and cross-border banking capabilities. By deepening our connectivity into China’s financial ecosystem, we are the preferred partner to support clients in accelerating market access, navigating cross-border complexities and realising their regional growth ambitions in one of the world’s largest and most dynamic economies.” 

About CIMB
 
CIMB is one of ASEAN’s leading banking groups and Malaysia’s second largest financial services provider, by assets. Listed on Bursa Malaysia via CIMB Group Holdings Berhad, it had a market capitalisation of approximately RM81.6 billion as at 31 March 2026. It offers consumer banking, commercial banking, wholesale banking, transaction banking, Islamic banking and asset management products and services. Headquartered in Kuala Lumpur, the Group is present across ASEAN in Malaysia, Indonesia, Singapore, Thailand, Cambodia, Vietnam and the Philippines. 
 
Beyond ASEAN, the Group has market presence in China, Hong Kong and UK. CIMB has one of the most extensive retail branch networks in ASEAN with 545 branches and over 33,000 employees as at 31 March 2026. CIMB’s investment banking arm is one of the largest Asia Pacific-based investment banks, which together with its award-winning treasury & markets and corporate banking units comprise the Group’s leading wholesale banking franchise. CIMB is also the 91.45% shareholder of Bank CIMB Niaga in Indonesia, and 94.83% shareholder of CIMB Thai in Thailand. 

SOURCE: CIMB Group 

FOR  MORE INFORMATION, PLEASE CONTACT:
Name: Anis Azharuddin / Kelvin Jude Muthu
Group Corporate Communications 
CIMB Group Holdings Berhad
Email: anis.azharuddin@cimb.com / kelvinjude.muthu@cimb.com 

--BERNAMA