CIMB Group Plans Sale of Philippine Business Unit

CIMB Group Holdings Bhd. is planning to sell its business operations in the Philippines, with binding bids expected by the end of October 2026. The Malaysia-based lender is utilizing a financial adviser to manage the divestment of the unit, which some sources value at up to $200 million.

Local competitors, including Bank of the Philippine Islands and Metropolitan Bank & Trust Co., have expressed interest in acquiring the assets. CIMB entered the Philippine market in December 2018 and had grown its customer base to 10 million by September 2025.

While several parties are pursuing the acquisition, the company has indicated there is currently no certainty that a final deal will be reached.