CIMB Thai announces 'MOVING FORWARD WITH YOU' in its 2023 strategy, aiming to be the best-in-class ASEAN, Wealth Management, Treasury and Loans financial provider

Paul Wong Chee Kin, President and CEO of CIMB Thai Bank shared the latest financial performance of the bank highlighting an improvement in its PBT, driven by effective provision management and cost containment efforts. Subsequently, better asset quality and risk management have enabled the bank to reduce its credit costs and NPL ratio, accompanied by promising YoY loans and deposits growth at 11.0% and 21.0% respectively.

The bank continues its stride to provide best-in-class products and financial solutions especially in areas of Wealth Management, where enhancements to its various investment channels have assisted in providing comprehensive and hassle-free experiences for its customers. Additionally in 2022, the mutual fund Open Architecture service was introduced on the CIMB TH Digital Banking mobile app, and its digital savings products such as CHILL D and Speed D+ were well received by the market as Digital CASA AUM grew more than 200%.

As a Treasury powerhouse, CIMB Thai maintains its market-leading position as a top bonds distributor where it has won numerous awards across the year and continues to explore new digital distribution channels in tandem with key market trends and customer's changing needs. The bank also continued to elevate its regional value proposition to corporate clients, leveraging on CIMB Group's ASEAN presence, platform and solutions. Currently, CIMB Thai is one of the major contributors of regional business across the CIMB Group network. Through its DCM franchise, the bank remains steadfast in supporting our corporate clients' growth and funding needs as a key issuer of private bonds, state enterprise debentures and subordinate perpetual bonds. In 2022, CIMB Thai was ranked the Top 5 debt securities underwriter in the country.

Advancing into 2023, through its Forward23+ transformation programme, CIMB Thai is committed to ramp up its growth engines aligned to its vision to be a digital-led bank with ASEAN reach. The bank strives to deliver its key performance targets through 7 strategic themes - Reshape Portfolio, Diversifying Deposits, Driving Cost Efficiency, Digitize for Value, Strengthen Risk Management Discipline, Human Capital Transformation and Sustainability. Dedicated to serve customers better, CIMB Thai tailors its solutions to be in line with latest market developments as observed in the latest campaign of its Foreign Currency Deposits Account (FCD) product which not only offers competitive rates, but also serves as an excellent vehicle to help customers manage and leverage risks associated with foreign currency transactions.

To support its business drivers and deliver sustainable growth, CIMB Thai will scale up its sustainability efforts & commitments across 4 pillars - Sustainable Action, Sustainable Business, Governance and Risk, and Stakeholder Engagement and Advocacy. Moreover, as part of embedding its refreshed core values EPICC into its organization, the bank will diligently pursue to develop and enable employees to move forward together with its customers, stakeholders and society.

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