CIMB Bank has partnered China Merchants Bank to support trade, payments and financing flows across the China-ASEAN corridor.
The Malaysian bank signed a Letter of Intent with China Merchants Bank to develop a framework for cross-border client services.
The partnership will give clients of both banks access to banking solutions across trade, payments and financing.
CIMB and China Merchants Bank will also explore cash management, trade finance and settlement services, with a focus on cross-border treasury operations.
The banks plan to expand mutual client referrals and work together on investment banking and advisory services.
This includes support for companies looking at market entry, investment structuring and regulatory requirements.
The collaboration may also cover syndicated loans across global primary and secondary markets, giving clients access to more funding options.
Corporate and retail clients are expected to benefit from wider access to international banking services and more streamlined processes.
Chu Kok Wei, Chief Executive Officer, Group Wholesale Banking, CIMB, said,
“By leveraging CIMB’s strong ASEAN footprint and expertise, this partnership strengthens our role in advancing regional financial connectivity.
As a key link between Malaysia, ASEAN and China, CIMB is in a position of strength to facilitate seamless financial flows across the China–ASEAN corridor, enabling us to better support our clients with integrated, end-to-end solutions as they expand and capture growth opportunities across the region.”
Featured image: Chu Kok Wei, CEO, Group Wholesale Banking, CIMB (left) and Lei Cai Hua, EVP, China Merchants Bank
