BANGKOK, (Reuters) – CIMB Group Holdings Bhd , Malaysia’s sec- ond-largest lender, plans to seek banking licences in Vietnam and Myanmar as part of its drive to expand in fast-growing Southeast Asian markets.
CIMB, Southeast Asia’s fifth-largest bank by assets, is also keen to open a banking busi- ness in the Philippines and is studying reg- ulations in the country, CIMB Group Chief Executive Nazir Razak told reporters on Wednesday.
He was in Bangkok to announce that CIMB-Principal Asset Management Co has signed a deal to acquire Finansa Asset Man- agement Ltd in Thailand from Finansa Pcl for 225 million baht ($7.09 million).
Separately, CIMB Thai Bank said the bank aimed for loan growth of 15 percent this year, despite a 4 percent rise in the first half, on expectations of a recovery in lending de- mand in the second half as the political situ- ation in Thailand stabilises.
