MANILA, Philippines — CIMB Bank Philippines has launched a new offering that heralds its foray into a new customer segment that resonates with millions of Filipinos.
The pioneering online-only bank, which traces its roots from Malaysia, unveiled CIMB Kababayan, its latest financial offer designed specifically for overseas Filipinos, in the presence of representatives from the Malaysian government.
Present during the unveiling were Deputy Prime Minister of Malaysia Dato’ Seri Ahmad Zahid Hamidi, Malaysian Ambassador Dato’ Abdul Malik Melvin Castelino Anthony, Department of Migrant Workers Secretary Hans Leo Cacdac, Foreign Affairs Undersecretary Eduardo De Vega and CIMB Bank Phl CEO Vijay Manoharan.
CIMB Bank Phl is the local branch of the Malaysian-headquartered CIMB Group, a universal bank and the fifth largest banking group in the ASEAN.
CIMB Kababayan is a landmark offering that gives overseas Filipinos access to the banking experience they truly deserve.
For the first time, overseas Filipinos can open a CIMB savings account on the CIMB mobile app in less than 10 minutes and enjoy high interest rates up to 15 percent with no minimum maintaining balance requirement, pay bills and enjoy free Instapay transfers.
Transferring funds from overseas will also be made more seamless upon the launch of the CIMB PH remittance service.
The launch of CIMB Kababayan aligns with CIMB’s vision of providing accessible and convenient digital-only banking services, reinforcing its position as a trusted banking partner for Filipinos wherever they are in the world.
With 8.5 million depositors and 3.5 million lending customers, the bank continues its mission to disrupt the local banking industry and change how Filipinos experience banking, driving financial inclusion to ensure more Filipinos have simple and easy access to banking services.
Through industry-leading embedded banking partnerships, CIMB Bank Phl also continues to expand its footprint through its key partnerships, conveniently making its banking services available in customers’ most used mobile apps.