On 1 July 2000, Southern Bank acquired Ban Hin Lee Bank, along with United Merchant Finance Bhd (renamed Southern Finance Bhd), Perdana Finance Bhd and Cempaka Finance Bhd. This was part of the government-initiated banking consolidation plan.
2002 - Commerce-Asset Holdings Bhd became the majority shareholder in Bank Niaga
CAHB completed the acquisition of 51% of PT Bank Niaga from the Indonesian government via the Indonesian Bank Restructuring Agency (BRA). It is part of the series of strategic policies taken by the Indonesian government in response to the banking and economic crisis which befell the country following the onset of the Asian monetary crisis in mid-1997. The acquisition provided a rare opportunity for CAHB to acquire a majority stake in an Indonesian banking franchise which excelled in customer service and technology innovation.
2003 - CIMB Bhd lists on KLSE
The listing of CIMB on the Main Board of the Kuala Lumpur Stock Exchange in January 2003 exceeded the expectations of investors and employees alike.
As it turned out, CIMB's listing lasted only about three years due to upcoming developments, but not before delivering returns of 340% to its shareholders.
2003 - Launch of CIMB Islamic
CIMB Islamic was officially launched by Malaysia’s Bank Negara Governor Tan Sri Dato' Dr Zeti Akhtar Aziz in June 2003. Since then, CIMB Islamic has won numerous accolades for its innovative Shariah-compliant solutions.
In April 2005, Commerce-Tijari Bank Bhd was launched as the Islamic banking subsidiary of Bumiputra-Commerce Bank, providing the consumer market with an Islamic alternative for deposit accounts and financing.
2004 - Formation of CIMB-Principal
CIMB Bhd acquired 70% of Commerce Trust Bhd and Commerce Asset Fund Managers Sdn Bhd from Commerce-Assets Holdings Bhd. The acquisition led to the formation of CIMB-Principal Asset Management Bhd, involving a joint venture with the Principal Financial Group of USA.
This marked the entry of a new player to Malaysia's burgeoning asset management sector. It was not long before CIMB-Principal made a decisive impact, winning numerous accolades for the returns from innovative products, such as the Global Titans Fund, Malaysia's first global equity investment fund.
2005 - CIMB acquires G K Goh Securities Pte Ltd
The acquisition of Singapore-based GK Goh Securities in June 2005 led to the formation of CIMB-GK Securities Pte Ltd, CIMB's international investment banking operations.
G K Goh was founded in Singapore in 1979, evolving into a reputable pan-Asian stockbroking franchise with operations in Singapore, Indonesia, Hong Kong, the UK and the US.
2005 - CIMB announces acquisition of Bumiputra-Commerce Group
The acquisition of the Bumiputra-Commerce Group by CIMB was announced in June 2005, following the strategic decision by CAHB to create a universal bank by combining its consumer and investment banks.
As part of the exercise, CIMB was delisted from the KLSE and CAHB was renamed Bumiputra-Commerce Holdings Bhd.
2006 - CIMB Group's restructuring exercise
January 2006 marked the birth of the new CIMB Group as a universal bank. Complemented by the resources and reach of Bumiputra-Commerce Bank, one of Malaysia's foremost retail banking providers, CIMB Group made the transition to a full-service banking provider, serving a range of customers, from corporates to individuals.
Encapsulating investment banking, consumer banking, asset management and Islamic products and services, CIMB Group was now poised to make a stronger mark on the Malaysian financial landscape.
2006 - CIMB Group acquires Southern Bank
CIMB Group purchases Southern Bank. It refreshes its look and purpose: ‘to be Southeast Asia’s most valued universal bank’.
2006 - Launch of CIMB Group as a Regional Universal Bank
The new CIMB Group was launched by the then Prime Minister of Malaysia, Dato’ Seri Abdullah Ahmad Badawi, in September 2006, signifying the culmination of the 3-way merger of Commerce International Merchant Bankers, Bumiputra-Commerce Bank and Southern Bank to form a universal banking group.
As a universal bank, CIMB Group has the full range of banking and financial services – conventional and Islamic – to serve everyone from the smallest retail client to the largest companies and institutions.
In line with the vision, “To be Southeast Asia’s Most Valued Universal Bank”, the Group embarked on a rebranding exercise and unveiled a new logo and a new tagline, “Forward Banking”, reflecting its promise to create value for customers through forward thinking.
CIMB Group launched its flagship presence in Thailand and USA, adding on to the Group’s already strong investment banking, stockbroking and institutional sales franchise in Kuala Lumpur, Singapore, Jakarta, Bangkok and Hong Kong.
2007 - Launch of CIMB Foundation
CIMB Foundation is a non-for profit organisation launched in November 2007 to carry out the Group’s corporate social responsibility and philanthropic initiatives. Its focus is on sustainable programmes in community development, sports and education. In support of its commitment, CIMB Group pledged an initial sum of MYR100 million to CIMB Foundation.
2008 - Strategic investment in the Bank of Yingkou, China
CIMB Group entered into an agreement for a 19.99% stake in the Bank of Yingkou, adding mainland China to the Group’s network, which comprises Southeast Asia, global financial centres and large economies that have strong economic, trade and investment linkages with ASEAN.
2008 - Merger of PT Bank Niaga Tbk and PT Bank Lippo Tbk
CIMB Group created the 6th largest bank in Indonesia at the point of the merger between PT Bank Niaga Tbk with PT Bank Lippo Tbk. This was an initiative of Khazanah Nasional Bhd, the ultimate shareholder of CIMB Group and the banks, to comply with Bank Indonesia’s Single Presence Policy (SPP). The merger marked the first major consolidation of private banks under the SPP. The merged bank was rebranded as “CIMB Niaga”.
CIMB Group and the Principal Financial Group strengthened their partnership with the launch of CIMB-Principal Islamic Asset Management. The 50:50 joint venture serves as the global Shariah funds management arm of both entities, and is located in Kuala Lumpur to leverage the infrastructure of the Malaysia International Islamic Financial Centre.
2008 - Acquisition of BankThai
CIMB Group entered into an agreement with the Financial Institutions Development Fund to purchase a 42.13% stake in BankThai Pcl. The Group’s ensuing tender offer for the remaining shares in BankThai, and a rights issue, resulted in the stake increasing to 93%.
The acquisition of BankThai strengthened CIMB Group’s universal banking platform across major ASEAN markets – Malaysia, Indonesia, Singapore and Thailand – and made the Group’s retail network the widest in ASEAN, with over 1,100 branches.
BankThai was rebranded as “CIMB Thai” when it was officially launched in 2009.
2009 - New Headquarters for CIMB Bank and CIMB Islamic
The 39-storey Menara Bumiputra-Commerce houses CIMB Group’s consumer banking franchises — CIMB Bank and CIMB Islamic. Officiated by the Seri Paduka Baginda Yang di-Pertuan Agong Tuanku Mizan Zainal Abidin Ibni Al-Marhum Sultan Mahmud Al-Muktafi Billah Shah and Seri Paduka Baginda Raja Permaisuri Agong Tuanku Nur Zahirah, the building site was partly chosen to preserve the Bank’s historical links to the area where the headquarters of the Bank’s predecessors, Bank Bumiputra and the United Asian Bank, were located.
2009 - CIMB Thai officially launched
CIMB Thai’s new brand and logo were unveiled to the public in May 2009 by Khun Korn Chatikavanji, Thailand’s Minister of Finance. The rebranding launch, which was also attended by Dr Tarisa Watanagese, Governor of the Bank of Thailand, was part of CIMB Thai’s transformation into becoming a financial institution that offers innovative products and service to the Thai market, backed by the resources of a leading regional universal banking group.
2009 - Launch of CIMB Bank Singapore
CIMB Group set up consumer banking services in Singapore in September 2009. Through its strong service propositions, CIMB Bank Singapore has brought innovative products that maximise value for money in a competitive environment.
The retail banking component complements CIMB Group’s existing securities, advisory and corporate lending businesses in Singapore.
This link is provided for your convenience only and shall not be considered or construed as an endorsement or verification of such linked website or its contents by CIMB Bank.
CIMB Bank makes no warranties as to the status of this link or information contained in the website you are about to access.