CIMB makes digital banking push, starting with Vietnam

Singapore

CIMB Group Holdings Bhd is making a push into digital banking in Southeast Asia, starting with Vietnam, as Malaysia's second-biggest bank by assets seeks to expand in the region without swelling costs.

The Kuala Lumpur-based lender will launch its first fully digital bank in Vietnam in January, followed by the Philippines, where it has received a licence, chief executive officer Zafrul Abdul Aziz said in Jakarta on Wednesday. Both markets are new to CIMB.