KUALA LUMPUR (June 10): CIMB Bank Bhd has partnered with China CITIC Bank Corporation Limited to improve financial links between China and Asean, especially in Malaysia and Indonesia.

In a statement on Wednesday, CIMB said the partnership aims to support trade, investment, and cross-border financing in the region. By combining China CITIC Bank’s presence in China with CIMB’s Asean network, the two banks will offer customers easier access to banking services such as trade financing, payments, and business expansion support.

The partnership will also improve Chinese yuan renminbi (RMB) and foreign currency payment services, including access to China’s cross-border payment system (CIPS), RMB funding, and offshore lending in Asean. This will help strengthen financial connections and make cross-border transactions between China and Asean easier and more efficient.

Beyond financing and banking products, CIMB and China CITIC Bank will work together to improve cross-border treasury and cash management services. This includes helping businesses open and manage accounts more easily, allowing them to handle transactions between China and Asean more efficiently.

The two banks will also support companies looking to expand into China and Asean through client referrals and advisory services. They will help businesses enter new markets, meet regulatory requirements, carry out cross-border transactions, and explore merger and acquisition opportunities. In addition, the banks plan to collaborate on syndicated loans to give clients greater access to regional and international financing.

“By deepening our connectivity into China’s financial ecosystem, we are the preferred partner to support clients in accelerating market access, navigating cross-border complexities and realising their regional growth ambitions in one of the world’s largest and most dynamic economies,” CIMB Group Wholesale Banking CEO Chu Kok Wei said in the statement.