(Oct 6): CIMB Group Holdings Bhd (KL:CIMB) is exploring a sale of its business in the Philippines as part of efforts to streamline and focus on bigger markets for growth, according to people with knowledge of the matter.

The Malaysian lender is working with a financial adviser on the potential divestment and has reached out to prospective buyers to gauge interest, said the people, asking not to be identified because the process is private. A deal could value the business at as much as US$200 million (RM817 million), the people said.

Deliberations are ongoing and CIMB may still decide not to sell, they said. A representative for CIMB didn’t respond to requests for comment. 

CIMB entered the Philippines in December 2018, and by September 2025 had 10 million customers, according to its website. CIMB also has a presence in Indonesia, Singapore, Thailand, Cambodia and Vietnam, as well as some operations in China, Hong Kong and the UK. 

The group said in August that its overall net income was RM1.94 billion in the second quarter, and that it’s continuing to “reallocate capital away from underperforming businesses”. CIMB announced in May that it was selling its automotive financing portfolio in Thailand.

CIMB’s shares hit a 15-year high in January but have fallen 14% since, giving it a market value of about US$20.4 billion. 

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