CIMB Plans To Expand Wealth Management Offering

Vanessa Doctor

9 August 2009

CIMB Private Bank, the wealth management arm of financial services provider CIMB Group, is looking to bolster its high net worth offering in Sarawak, Malaysia. The announcement comes on the back of a 25 to 30 per cent year-on-year growth in the company since it entered the country in 2005.

At a recent media briefing, co-head Carolyn Leng said that the bank is looking to expand its services to Sarawak's affluent market. "Sarawak is a high growth area for CIMB Private Banking as it is home to many of the country's successful professionals and entrepreneurs," she said. Currently, the bank has two satellite office in the country - one in Sibu and the other in Miri.

The Bumiputra-Commerce Holdings-owned CIMB Group is the second largest financial services provider in Malaysia.