KUALA LUMPUR: CIMB Bank Bhd has signed a letter of intent with China Merchants Bank Co Ltd to establish a comprehensive framework to leverage the strengths of both banks for a wide range of cross-border client solutions.
In line with CIMB’s Forward30 strategy, the collaboration supports the expansion of end-to-end banking services between China, Malaysia and Asean, it said in a statement.
“The signing of the collaborative agreement between CIMB and China Merchants Bank will allow clients to access a comprehensive range of cross-border solutions, benefitting from a broad menu of banking services covering trade, payments, and cross-border financing to support their operations and expansion across markets.”
CIMB said the partnership will further explore enhanced cash management capabilities, trade finance and settlement, supported by stronger head office connectivity to streamline cross-border treasury operations. — Bernama
