KUALA LUMPUR (May 28): CIMB Group Holdings Bhd (KL:CIMB) announced its partnership with China Merchants Bank Co Ltd to provide cross-border financing solutions to support both corporate and retail clients with better access to international banking services across China, Malaysia and Asean.

The two banks will allow clients to access a comprehensive range of cross-border solutions, benefitting from a broad menu of banking services covering trade, payments, and cross-border financing to support their operations and expansion across markets, said CIMB in a statement.

“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,’’ said CIMB Malaysia chief executive officer of wholesale banking Chu Kok Wei.

The partnership was formalised through the signing a letter of intent with a China-based bank. Connecting the two head offices will streamline treasury operations and enhance cross-border cash management and trade settlements for clients.

Additionally, the partners will also jointly offer syndicated loans in global primary and secondary markets to expand financing options for the clients.

The collaboration supports the expansion of end-to-end banking services to the clients across Asean markets which is in line with CIMB’s Forward30 strategy.