KUALA LUMPUR, March 6 (Bernama) — CIMB Group Holdings Berhad (“CIMB Group” or “the Group”) on 5 March 2025 launched its Forward30 strategic plan, a new six-year roadmap designed to accelerate growth and future proof the organisation while reinforcing its core purpose of advancing customers and society.
Following the successful completion of Forward23+ (“F23+”) strategic plan, in which the Group improved return on equity (“ROE”) from 2.1% in 2020 to 11.2% and delivered annualised total shareholders return of 34.6% from 2020 to 2024, CIMB is well positioned for its next phase of growth. The realisation of F23+ was mainly attributed to the successful reshaping of portfolios in the respective markets, hard wiring of a new corporate culture, an unwavering focus on improving asset quality, and improving efficiencies and resiliencies.
Novan Amirudin, Group Chief Executive Officer, CIMB Group said, “Our Forward30 strategic plan will be our guiding principle on how we will compete and lead in the market, leveraging our endowment and strong ASEAN network to optimise capital and resources, drive sustainable financial performance and create long-term shareholder value. Predicated on global megatrends such as geopolitical shifts, cyclical economic policies, as well as the rapid advancement of Gen AI, Forward30 ensures that the Group remains nimble in navigating an increasingly complex operating environment while being focused on accelerating growth in areas we are winning, as well as keeping our customers at the heart of everything we do.”
The Forward30 strategic plan will be anchored on four strategic growth levers:
· Capital: optimise and reallocate the Group’s capital to strengthen overall portfolio
· Cash: build a leading deposit franchise to reduce cost of funds by 10 to 20 bps by 2030
· Cross-sell: unlock value through the “one-bank” approach to offer clients from all segments with integrated financial solutions to unlock new income streams
· Capabilities: deliver best-in-class services and propositions by embracing ‘Simpler, Better, Faster’ approach to increase productivity and efficiency
By 2030, CIMB aims to achieve a Top 3 in Net Promoter Score, top quartile ROE among regional peers, CASA ratio of 45%, non-interest income (“NOII”) ratio of between 33% 34% and cost-to-income (“CIR”) ratio in the low 40s%.
“With Forward30, the Group aims to continue enhancing our position as the leading focused ASEAN bank, driving meaningful and lasting impact for customers, employees and societies. We will actively pursue opportunities to reimagine our operating model, unlock new areas of growth while generating long-term sustainable value. Our commitment remains on delivering positive shareholder returns and ensure that our future success create tangible benefits for all stakeholders,” concluded Novan.
More information on Forward30 strategic plan is available https://www.cimb.com/en/investor-relations/other-information.html#reports presentations
About CIMB
CIMB is one of ASEAN’s leading banking groups and Malaysia’s second largest financial services provider, by assets. Listed on Bursa Malaysia via CIMB Group Holdings Berhad, it had a market capitalisation of approximately RM88.0 billion as at 31 December 2024. It offers consumer banking, commercial banking, wholesale banking, transaction banking, Islamic banking and asset management products and services.
Headquartered in Kuala Lumpur, the Group is present across ASEAN in Malaysia, Indonesia, Singapore, Thailand, Cambodia, Vietnam and Philippines.
Beyond ASEAN, the Group has market presence in China, Hong Kong and UK. CIMB has one of the most extensive retail branch networks in ASEAN with 592 branches and over 33,000 employees as at 31 December 2024. CIMB’s investment banking arm is one of the largest Asia Pacific-based investment banks, which together with its award-winning treasury & markets and corporate banking units comprise the Group’s leading wholesale banking franchise. CIMB is also the 92.5% shareholder of Bank CIMB Niaga in Indonesia, and 94.8% shareholder of CIMB Thai in Thailand.
SOURCE: CIMB Group
FOR MORE INFORMATION, PLEASE CONTACT:
Name: Anis Azharuddin / Kelvin Jude Muthu
Group Corporate Communications
CIMB Group Holdings Berhad
Email: [email protected] / [email protected]
–BERNAMA
