Malaysia’s CIMB Bank starts Manila operations
It took a year before the lender completed its foray here.
Malaysia’s CIMB Bank has officially entered the Philippine market just this December.
In a letter, Bangko Sentral ng Pilipinas Deputy Governor Chuchi Fonacier announced that the foreign bank started commercial operations on Dec. 3, 2018.
This is a year after the Monetary Board approved the bank’s request to open a branch here back in November 2017.
The BSP then gave a banking license to CIMB on Oct. 25 after completing its registration with the Securities and Exchange Commission.