to vie for a digital banking licence.
The deadline for the application of a digital banking licence is this Wednesday and Bank Negara is expected to issue up to five licences by the first quarter of next year.
, a leading Asean universal banking group, is currently strengthening its capabilities to deepen its presence in the digital banking space.
On the strategies and plans that CIMB Group has put in place to further boost its digital banking business, CIMB Digital Assets CEO Effendy Shahul Hamid told StarBiz that there are multiple efforts taking place across the group’s franchise.
“Different business lines across the banking group continue to innovate offerings to customers in terms of enhanced product, user journeys and experience, and digitalised access.
Lenders streamlining their strategies amid challenging business environment
BANKS worldwide are closing down branches and slashing their usage of office space like never before in a sure sign that the coronavirus pandemic has brought about permanent changes to the financial world.
While changes are not confined to this industry, lenders have largely been quicker than most to adapt to the changes.
This week alone, Standard Chartered said it would shut down half its branches and slash office space worldwide by a third in order to save costs as global lockdowns have greatly reduced the need for physical branches and offices.
Tuesday, 27 Apr 2021 11:54 AM MYT
KUALA LUMPUR, April 27 ― Maybank Investment Bank Bhd (Maybank IB) has maintained its “buy” call on CIMB Group Holdings Bhd’s (CIMB) shares with an unchanged target price of RM4.80.
The call was made in view of the group’s likely decent first quarter 2021 (Q1 2021) results amidst better net interest margins (NIM) and trading income.
In a note today, the research house said PT Bank CIMB Niaga and CIMB Group’s Q1 2021 results are scheduled to be released on April 29 and May 31, respectively.
“We think that the results are likely to be decent for the group, with higher quarter-on-quarter (q-o-q) NIMs, better year-on year (y-o-y) trading income and ongoing cost control, offset by still elevated credit costs,” it said.
CIMB – the second largest by asset size in the country – like most banks, has seen its profit hit amid the Covid-19 pandemic which has slowed down demand for new loans, and forced banks to set aside more than the normal amount of funds for doubtful debts.
PETALING JAYA: A long-term view is needed for investors wanting to put their money into CIMB Group Holdings Bhd as growth indicators will take time to show meaningful improvements.
The lender – the second largest by asset size in the country – like most banks, has seen its profit hit amid the Covid-19 pandemic which has slowed down demand for new loans, and forced banks to set aside more than the normal amount of funds for doubtful debts.