THE CIMB Bank Philippines Inc. announced “impressive” financial results for the first half of 2023 as it said revenues grew to nearly 240 percent in the first half of the year compared to figures in the same period last year.
The subsidiary of Kuala Lumpur, Malaysia-headquartered CIMB Group Holdings Bhd attributed the growth to its loan portfolio that, it said through a statement, hit 150 percent in the January-to-June period.
CIMB Bank PHL said its customer base also grew from 6.47 million in 2022 to 7.13 million as of June 2023.
The CIMB Bank said it has partnerships with financial powerhouses GCash and Visa, and the e-commerce platform Shopee.
It is set to announce new strategic partnerships soon as well plans of expansion into new customer segments.
The lender said its deposit customer count grew from 5.70 million in 2022 to 6.02 million while loan customers have breached 2.56 million.
Debit card transactions and usage also increased, the lender added.