KUALA LUMPUR: CIMB Group Holdings Bhd
’s planned sale of its business in the Philippines has drawn interest from local rivals including Bank of the Philippine Islands (BPI) and Metropolitan Bank & Trust Co, according to sources.
Binding bids for the unit are due before the end of the month, the sources said. Other parties have also shown interest in acquiring the assets, the sources added.
Malaysia-based CIMB is working with a financial adviser on the potential divestment and reached out to prospective buyers to gauge interest, Bloomberg News reported earlier this month.
“A deal could value the business at as much as US$200mil,” sources said.
“Considerations are ongoing and there is no certainty of a deal.”
Furthermore, a representative for BPI declined to comment, while CIMB and Metropolitan Bank & Trust, known as Metrobank, didn’t respond to requests for comment.
CIMB entered the Philippines in December 2018, and by September 2025 had 10 million customers, according to its website.
The lender also has a presence in Indonesia, Singapore, Thailand, Cambodia and Vietnam, as well as some operations in China, Hong Kong and the United Kingdom. — Bloomberg
