CIMB GROUP GETS NOD TO SET UP OPERATIONS IN CAMBODIA

KUALA LUMPUR, May 10 (Bernama) -- The CIMB Group has obtained an
approval-in-principle to offer banking services in Cambodia by its central bank,
the National Bank of Cambodia.

In a statement, CIMB said the approval allows CIMB Bank to establish and
operate a 100 per cent owned subsidiary to offer banking products and services
to the nation of 14 million people.

The approval also requires the group to set-up its operations within six
months and CIMB said, it plans to establish a headquarters in Phnom Penh, as
soon as possible.

"We are excited about the long-term prospects for the Cambodian economy.We
believe we can contribute to the development of the domestic banking market
while facilitating more trade and investment flows between Cambodia and other
ASEAN markets," said CIMB Group Chief Executive, Nazir Razak.

He said the move would further cement its position as a leading regional
franchise, as the group was now in eight out of 10 ASEAN countries.

Beyond ASEAN, CIMB has offices in Hong Kong, Bahrain, London and New York as
well as a 19.99 per cent stake in THE Bank of Yingkou, China.

-- BERNAMA