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CIMB Commences Retail Banking Services In Singapore

The bank has been in Singapore since 1947 through Ban Hin Lee Bank

Malaysia-based CIMB Group has officially launched retail banking business in Singapore and plans to recruit an additional 110 professionals before the end of the year – reported The Malaysian Insider.

Reportedly, Datuk Seri Nazir Razak, CEO of CIMB Group, has said that the newly launched retail banking business will complement its already established securities, advisory and corporate lending businesses in Singapore and complete the CIMB’s customer segment coverage across its 4 key nations.

Mak Lye Mun, CEO of CIMB Bank Singapore, said: “We don’t have the branch network that our competitors do, so we have to be smarter. And that’s exactly what we’ve done. We will be challenging convention and I feel our direct approach and customer focus will ensure that we attract a good base of customers. Basically, we’ve been listening to the Singapore retail customers and this will come out very clearly in our advertising and products in the coming months. We’ll be aggressively pursuing a recruitment agenda. We expect to be recruiting an additional 110 professionals before the end of the year,” reported the newspaper.

CIMB Group offers a full range of financial products and services, covering corporate and investment banking, consumer banking, treasury, insurance and asset management.