CIMB Hails Move To Give Greater Market Access To Indonesian, Malaysian Banks

KUALA LUMPUR, Aug 3 (Bernama) -- CIMB Group Holdings Bhd Tuesday applauded the move by Indonesian and Malaysian regulators to give their banks greater access to each other's markets, which is positive for the banking industry in both countries. CIMB Group Chief Executive Tengku Zafrul Aziz said the move provided an additional impetus for CIMB Group to expand its existing business in Indonesia, particularly in the Islamic and consumer segments, where there are a lot of growth opportunities given the republic's 260 million population. "As one of the top five banks in Indonesia by asset size, with a current customer base of 3.6 million and strong results in first half of 2016, CIMB Niaga is well-poised for further growth. ' "This Indonesia-Malaysia agreement is also an important step towards improved ASEAN economic integration, paving the way for CIMB to continue delivering its ASEAN universal banking proposition," he said in a statement to Bernama Tuesday. -- BERNAMA