CIMB raises Philippine lending target

CIMB Bank Philippines will grow its customer base and plans to serve new clients like small businesses and overseas Filipino workers.

MANILA: The Philippine unit of Malaysia’s CIMB Group Holdings Bhd is targeting lending of more than 75 billion pesos (US$1.28bil) to Filipino clients this year, up 23% from 2023, its chief executive officer says.

CIMB Bank Philippines will grow its customer base and plans to serve new clients like small businesses and overseas Filipino workers, Vijay Manoharan told a press conference, adding that the bank achieved profitable operations last year.