Trim and fit: CIMB’s move to cut down on regional investment baning teams and MSS are designed to bring down cost.
CIMB Holdings Group Bhd will need at least two more quarters before benefits from its T18 initiatives which emphasise on cost-cutting and key business areas, are reflected on its balance sheet.
Sources close to the banking group say there is “a lot more” work for the country’s second largest banking group which has in recent quarters been weighed down by its operations in Indonesia amid mounting cost pressures, chief among which is staff cost.
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