CIMB offers lower financing rates for hybrid vehicles and GBI-certified properties
13 September 2018
CIMB Bank is first in Malaysia to offer lower financing rates to promote environmental sustainability
Kuala Lumpur: CIMB Bank Berhad (“CIMB Bank”) and CIMB Islamic Bank Berhad (“CIMB Islamic”) have rolled out preferential financing rates for new hybrid vehicles and residential properties certified under the Green Building Index (“GBI”). The move marks another significant step towards the CIMB Group’s (“the Group”) embracing of Environmental, Social and Governance (“ESG”) principles Group-wide.
CIMB customers will be offered 10 basis points (0.10%) lower financing rate versus the applicable promotion financing rate, for new hybrid vehicles as well as for GBI-certified residential properties. These offers support CIMB Group’s commitment to embed sustainability principles Group-wide, while also supporting the global initiative for responsible banking, through the Group’s membership of the United Nations’ (UN) Environment Programme Finance Initiative Principles for Responsible Banking (UNEP-FI).
CIMB Group is currently the only banking group in Malaysia and ASEAN to be a founding member of the sustainable initiative, together with 26 other leading banks from five continents and 19 countries.
Samir Gupta, CEO, Group Consumer Banking, CIMB Group, said, “As a leading ASEAN universal bank, CIMB’s strong regional footprint represents not just our strength, but also our responsibility to help shape the region’s environmental agenda through responsible banking. We are pleased to be the first bank in Malaysia to introduce lower financing rates for vehicles and properties that are environmentally friendlier – proof that we are putting our ESG commitment into action. This is another significant step towards fulfilling CIMB’s commitment to embed ESG into our business model, and we look forward to introducing more products and services that will result in a more positive impact on the environment and communities.”
Rafe Haneef, CEO, Group Islamic Banking, CIMB Group, who also heads the Group’s sustainability initiative, commented, “These lower-financing banking products not only add value to our customers, but are also a meaningful step towards fulfilling our commitment to achieve UNEP-FI’s objectives to ensure the banking industry creates a positive impact not just economically, but also socially and environmentally. Our membership of the UNEP-FI also supports Bank Negara Malaysia’s Value-Based Intermediation strategy for the Islamic banking industry, as well as CIMB’s own ongoing initiative to embed sustainability into all aspects of our operations Group-wide.”
The Green Building Index (GBI) is an industry-recognised green-rating tool used to assess buildings to promote sustainability in the built environment. It also raises awareness among developers, architects, engineers, planners, designers, contractors and the public about our responsibility for the impact on the environment, to safeguard it for future generations.
Samir Gupta, CEO, Group Consumer Banking, CIMB Group (second right); Rafe Haneef, CEO, Group Islamic Banking, CIMB Group (second left); Vipin Agrawal, Regional Head of Cards, Retail Assets and Deposits, Group Consumer Banking, CIMB Group (far left) and Yong Kwai Ling, Head of Retail Assets and Deposits, Group Consumer Banking, CIMB Group (far right) supporting CIMB’s lower financing rates for hybrid vehicles and Green Building Index-certified properties.
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