KUALA LUMPUR (Sept 29): CIMB Bank Bhd and CIMB Islamic Bank Bhd will undergo a branch merger exercise involving selected outlets across Kuala Lumpur, Selangor, Penang, Perak, Pahang and Sarawak effective Oct 17, 2022, according to a notice on CIMB Group Holdings Bhd's website.

CIMB said 12 selected existing branches will be closed and merged with another 12 selected existing outlets to form 12 new combined branches.

The 12 branches which will be closed comprise three in Kuala Lumpur, five in Selangor and one each in Penang, Perak, Pahang and Sarawak, according to CIMB.

On its Kuala Lumpur branches that will be closed, CIMB said the Jalan Sarjana outlet will be merged with the existing Taman Connaught branch, the Kampung Baru outlet will be merged with the KLCC branch, and Jinjang outlet will be merged with the Desa Jaya Kepong branch.

For Selangor, CIMB said its Section 9 Shah Alam, HICOM Industrial Park Shah Alam, Subang Jaya, Bandar Baru Klang and Taman Klang Utama branches will be closed.

CIMB said its Section 9 Shah Alam branch will be merged with the existing Plaza Azalea outlet, and the HICOM Industrial Park Shah Alam branch will be merged with the Section 18 Shah Alam outlet.

CIMB's Subang Jaya branch will be merged with the current Empire Gallery outlet while the Bandar Baru Klang branch will be merged with the existing Plaza Centro outlet, and Taman Klang Utama branch will be merged with the CASA Klang outlet.

For Penang, CIMB said its Jalan Stesen branch will be closed and merged with its existing Maju Utama branch.

In Perak, CIMB's Tasik branch will be closed and merged with its current Bercham outlet, according to the financial services provider.

For Pahang, CIMB said it will close its Kompleks Teruntum branch, which will be merged with the existing Jalan Bank outlet.

In Sarawak, the Jalan Rubber branch will be closed and merged with the group's existing Jalan Satok outlet, according to CIMB.

"For your convenience, your account number(s) will remain unchanged and you can conduct your banking transactions as usual at the new branch or any of our CIMB Bank/CIMB Islamic Bank branches nearby," CIMB said.

At Bursa Malaysia on Thursday (Sept 29), CIMB Group's share price rose four sen or 0.78% to RM5.15 at 10.29am, for a market value of about RM53.92 billion.

CIMB Group has around 10.47 billion outstanding shares, according to its Bursa filing on Sept 14, 2022.