Speaking at the bank’s recent media day in Kuala Lumpur, CIMB Group CEO Novan Amirudin said the strategy is about “sharpening our focus in each market as a niche player” to create more meaningful impact in the seven ASEAN markets where the group operates.
“In uncertain economic environments, we need to allocate resources more effectively,” Novan said. “If we cannot play a meaningful role in a market, we need to find a different way to contribute — whether to customers or to society.”
PH success becomes group blueprint
In the Philippines, CIMB operates as a fully licensed digital-only commercial bank, offering financial services exclusively through mobile platforms. Vietnam is the only other market where CIMB is entirely digital.
CIMB Bank Philippines has pioneered embedded banking in the country, partnering with major e-commerce platforms to rapidly expand its reach. The bank has attracted almost 10 million customers in just six years of operations.
Novan said about 1 percent to 2 percent of the group’s capital has been invested in developing digital capabilities in the Philippines and Vietnam. “We’ve learned how to operate and expand digitally — from internal processes to digital customer acquisition — and these lessons are now shaping how we digitize the entire CIMB Group,” he added.
Scaling reach, deepening impact
CIMB Bank Philippines CEO Vijay Manoharan said strategic partnerships have allowed the bank to scale faster than expected and diversify into various customer segments, including micro, small and medium enterprises (MSMEs), the mass affluent, and overseas Filipinos.
“Soon, we will be able to offer customers the ability to invest in stocks through our app, enjoy rewards whenever they use the app, and make CIMB a part of their daily lives,” Manoharan said.
Proving its place, shaping its path
CIMB Bank Philippines has earned more than 150 international accolades, making it the most awarded digital-only commercial bank in the country. These include being named the No. 1 Bank in the Philippines in Forbes’ 2023 World’s Best Banks ranking, and Best Digital Bank in the Philippines for 2025 by The Asian Banker.
Novan stressed that CIMB’s market-by-market approach ensures that each unit plays to its strengths while leveraging the group’s regional scale.
“We’re not trying to be everything to everyone,” he said. “Instead, we aim to be indispensable where it matters most.” —Ed: Corrie S. Narisma
