Cimb Group Posts rm1.53bn fy20 Pbt; Dividend Payout of 40%

CIMB Group Holdings Bhd posted a profit before tax of RM1.53 billion and a net profit of RM1.19 billion for the financial year ended Dec 31, 2020.

Despite the year-on-year decline in PBT and net profit, the Group’s underlying business proved resilient.

FY20 pre-provisioning operating profit declined only marginally by 1% to RM8.21 billion.

But operating income remained stable with a slight decrease of 3.4% to RM17.19 billion.

Like all businesses, the bank is also hit by the COVID-19 pandemic.

The challenging operating environment required the bank to take a hard look at all areas of business, says Dato’ Abdul Rahman Ahmad, Group Chief Executive Officer of CIMB Group.

The bank recalibrated its strategy and introduce the Forward23+ mid-term strategy in early 4Q20.

“To mitigate the challenging environment and strengthen our balance sheet, our most immediate priority was cost management,” says the CEO.

“We successfully surpassed our FY20 cost reduction target of 5% through rigorous cost optimisation measures.”

Abdul Rahman says, 2020 was defined by the acute disruption of COVID-19 on public health and the global economy, impacting individuals, businesses and governments alike.

“Pandemic-driven lockdowns and the movement control order led to economic weakness and sharp GDP contractions across our core markets.

“This resulted in revenue and profitability pressure across our business.”

But the resilience of its underlying business and improved capital position made it possible to declare a dividend payout ratio of 40%.

“We are pleased to declare a proposed annual dividend of 4.81 sen per share, based on a dividend payout ratio of 40% in line with our dividend policy.”

MOVING FORWARD

Abdul Rahman says the resurgence of COVID-19 means necessary restrictions will be in place until the majority of the population have been vaccinated.

Thus, the Group will maintain a cautious growth stance in FY21.

“We anticipate that economic recovery will continue to be uneven with downside risks in the short term before improving in the second half of the year.

“Enhanced risk management, prudent cost optimisation and targeted investments across the business will remain priorities as we seek to drive efficient growth. With expected lower provisions, we anticipate considerably better financial performance in FY21.”

“Moving forward, FY21 will be the first full year of our Forward23+ strategy. We recognise that disciplined execution will be crucial to its success and have developed the necessary core programmes from the strategic themes of Forward23+ to ensure delivery of specific and measurable business outcomes.”

Digital is a priority as online banking has become the primary banking experience for most customers.

The bank will continue to enhance its digital platforms to improve customer experience.

At the same time, Wealth Management will also be a key growth driver regionally.

CAPTION: Dato’ Abdul Rahman Ahmad, Group Chief Executive Officer, CIMB Group (R) and Khairul Rifaie, Group Chief Financial Officer, CIMB Group at the virtual media conference for CIMB Group’s FY2020 full-year results.


CIMB’S summit to highlight the urgency of sustainability in the current challenging situation

KUALA LUMPUR, Sept 9 (Bernama) — CIMB Group Holdings Berhad (“the Group” or “CIMB”) is hosting The Cooler Earth Sustainability Summit (“TCE”) for the second year from 8 September – 31 October 2020.

Themed Recovery, Resilience and Responsibility, the summit aims to promote the exchange of ideas and encourage adoption of sustainable business models and lifestyles to enable businesses and communities to emerge stronger and better prepared for future challenges, post-pandemic.

This year, in consideration of the current situation, CIMB is bringing the Sustainability Summit online via webinars and masterclasses, complemented by experiential learning sessions for more “hands-on” participation. 

Together with knowledge partners, WWF, Impacto and Think City, TCE will continue the conversation from last year, to highlight the urgent need for transformative adoption of sustainable practices among leading practitioners, global experts, leaders, financiers, investors, policy-makers and individuals.

Some of the key speakers that will be highlighting pandemic-related, policy-making and climate emergency topics at the TCE 2020 webinars will include renowned sustainability gurus, John Elkington, author of The Triple Bottom-line, and Director General of WWF International, Marco Lambertini.

Also speaking will be Dato’ Seri Ir. Dr. Zaini Ujang, Secretary-General of Ministry of Environment and Water Malaysia, Melissa Tan, Zero Waste Practitioner, and Datin Seri Sunita Rajakumar, Founding Member of the Climate Governance Initiative, Malaysian Chapter.

Additionally, participants can also look forward to experiential learning activities, throughout the eight weeks, such as nature education and heritage walks, curated experiences and tours, and engaging workshops across Malaysia, Singapore, Thailand and Cambodia.

These immersive sessions will allow participants ASEAN-wide to learn on-site how their actions today will directly impact the well-being of current and future generations. 

Dato’ Abdul Rahman Ahmad, Group Chief Executive Officer, CIMB Group said, “The COVID-19 pandemic has affected all segments of society badly, directly impacting the lives and livelihood of those around us.

“For CIMB, we learnt quickly that the main concern was not just about the sustainability of our business but also that of our customers, clients and stakeholders in order for us to all to weather this situation successfully together.

“Sustainability is one of CIMB’s Forward23 key pivots, and this year, more than ever, we felt the need to enhance the focus on sustainability to affect change for our common future.

“Together, we must take immediate action and make better decisions to minimise the impact of the pandemic on the economy, social and environment, and this can only be done if we approach it in a holistic manner.” 

“As a founding member of the United Nations Environment Programme Finance Initiative (“UNEP-FI”) Principles for Responsible Banking, CIMB aims to use TCE as one of the platforms to catalyse action amongst businesses, communities and individuals.

“We feel strongly that everyone has a role to play in this journey and we hope that the conversations at The Cooler Earth 2020 will benefit more participants while creating potential opportunities for partnerships and long-term value,” Abdul Rahman added. 

Last year, CIMB successfully organised the sustainability summit through a full two-day panel discussion and dialogue which benefitted 1,250 delegates from 554 organisations.

Some notable milestones from the summit was the introduction of CIMB’s SME Renewable Energy Financing with a RM100 million allocation until 2020, the issuance of CIMB’s SDG bond at a value of USD680 million, which has been fully utilised to finance CIMB Bank’s lending assets in line with the CIMB SDG Bond Framework, as well as an over 80% utilisation on the commitment of RM15 billion for SME financing from 2019-2020. 

CIMB aims to expand its Positive Impact Products & Services (“PIPS”) offerings with the objective of creating value whilst also benefiting communities in line with Bank Negara Malaysia’s Value Based Intermediation (VBI) initiatives.

In this regard, CIMB will be making a series of announcements of new sustainable products, initiatives and milestones progressively throughout TCE 2020. One notable addition to our suite of PIPS is motor takaful managed by Takaful Ikhlas General Berhad (“TIGB”).

This is supplemented by a dedicated Motor Takaful Waqf initiative by CIMB Islamic Bank Berhad (“CIMB Islamic”) to start a seed fund which will be used to purchase bicycles for students from underserved communities to go to school.

The initiative started on 7 September 2020, and CIMB Islamic will provide an upfront RM100,000 contribution to commence the seed fund. CIMB Islamic will allocate an additional RM50 to the fund for each successful online subscription of the motor takaful via CIMB Website until 31 December 2020. 

The Cooler Earth Sustainability Summit 2020 is open to all and participation is free-of-charge. Subtitles in Malay, Indonesian, Filipino, Simplified Chinese, Thai and Vietnamese language will be made available for all online sessions.

To register and obtain the full programme, details of activities, topics and speakers, please visit https://coolerearth.cimb.com/.  


CIMB, POPTRON host bazaar to empower micro brands through COVID-19 recovery

KUALA LUMPUR, Sept 7 (Bernama) — CIMB Bank Berhad (CIMB) and local startup Poptron Malaysia Sdn Bhd (Poptron) are hosting the #ExtraNotOrdinary Bazaar from 4 to 10 September 2020 at The Boulevard, Publika Shopping Gallery.

The Bazaar marks CIMB’s and Poptron’s partnership, which aims to accelerate the growth of home-grown micro brands through Poptron’s newly-launched social commerce platform.

The Bazaar also encourages cashless transactions by providing extra rewards via the newly launched CIMB e Credit Card.

The event will feature a range of curated lifestyle brands available on Poptron’s platform and various showcases, paying tribute to the ingenuity of our local talent and unique local products in conjunction with Malaysia Day.
 
Special appearances at the launch event include Zamaera, KL’s rap sensation, event host Jenn Chia, well-known YouTube personality, as well as other personalities including Sharifah Amani.

The Bazaar will also feature interactive artistic acts and games, in addition to cultural performances courtesy of Yayasan Hasanah.
 
Samir Gupta, CEO, Group Consumer Banking of CIMB Group says, “CIMB’s partnership with Poptron is based on our shared values and desire to accelerate the growth of local micro enterprises.

Poptron aims to make ethical and socially conscious micro brands accessible via its social e-commerce platform, which is perfectly aligned with our aim to promote cashless lifestyles.”

“CIMB aims to encourage both our customers and the public to embrace cashless payment methods in their daily spending as the way forward, and they can do so while enjoying greater rewards with the CIMB e Credit Card.

“We also hope they will consider supporting the micro brands on Poptron as well as our #ExtraNotOrdinary Bazaar, and we look forward to finding even more ways to support local businesses in their recovery during these challenging times,” Samir adds.
 
“Poptron is about nurturing a community that love and appreciate emerging brands, beautiful products and the wonderful creators behind them. It’s such a heart-warming experience to hear their stories and understand the true passion and pride that goes into what they create.” says Brian Johnson Lowe, Founder and CEO of Poptron.
 
“As a social e-commerce platform, we want to inspire meaningful lifestyles so that together, we encourage a society that can collectively amplify positive impact. No matter how small the contribution is, all of us are capable of making some difference in our lives and this is important to Poptron and our partner brands” he says.
 
Brian further shared that the partnership with CIMB Bank is how Poptron is taking a step today towards the vision for a better tomorrow.

The desire to onboard brands and partners that share similar values while making them available right at your fingertips is an exciting and unique journey.


Poptron recently launched its social commerce platform with a curated list of around 100 local micro and emerging brands spanning over 7 categories.

Many of these micro brands were selected as they share ethical, responsible and socially conscious aspirations, with some being social enterprises that give back or provide skills training to underprivileged and marginalised communities.

Other examples include brands that offer natural and eco-friendly products, or artisanal goods that showcase the beauty of our Malaysian heritage and local cultures.

The CIMB e Credit Card powered by Visa was specially designed to suit the needs of customers’ digital-first lifestyles in the COVID-19 environment.

The credit card provides extra value for online, e-wallet, contactless & auto billing transactions with up to 12 times bonus points for each transaction with no minimum spend without being limited to any e-commerce platform.

Customers can even get extravagant rewards via e Credit Card Featured Partners with the likes of Lazada, Shopee & Taobao on CIMB eDay, which falls on 10th of every month.
 
The partnership embodies the #kitajagakita spirit by making the local micro brands featured by Poptron more compelling and accessible with promotions for shoppers for extra value.

Poptron and CIMB are offering a discount sitewide at Poptron.co throughout the bazaar period of 4 to 10 September, whereby CIMB e Credit Cardholders will enjoy 15% off plus 12 times Bonus Points instead of the usual 5 times Bonus Points on normal days (non-CIMB e Day) whilst other CIMB debit, credit and prepaid cardholders will enjoy 10% off.
 
For more details on the #ExtraNotOrdinary Bazaar, check out the event page on Facebook.
 
For more information about the CIMB e Credit Card, please visit www.cimb.com.my/ecard.


Go for secure home insurance of household goods, personal belonging

KUALA LUMPUR, Aug 19 (Bernama) — CIMB Bank Berhad (CIMB) in collaboration with Berjaya Sompo Insurance Bhd (Berjaya Sompo) have introduced Secure Home, a first online all risks protection insurance plan.

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The plan covers both household goods and personal belongings in your home against loss and damage, on a first loss basis. 

Secure Home, along with selected SOMPO Motor and other general insurance products distributed by CIMB, can now be purchased seamlessly.

Transactions can be done via CIMB’s website, URL link shared by staff or QR code scanning at CIMB branches nationwide.

Customers will be led to a dedicated application portal, providing those who are on-the-go with a fast, secure, and seamless call to action.

TYPE OF RISK COVERED

Types of risk covered under Secure Home include fire or lightning, floods, thefts and accidents, with an insured sum of up to RM60,000 depending on the selected plan. 

Secure Home is a simple and hassle-free all risks home content insurance offering that even covers theft by visitors to your home.

Furthermore, no upfront declaration of full value is required, and therefore it pays up to sum insured with no penalty for underinsurance.

Apart from Secure Home, the latest addition to CIMB’s suite of insurance products, customers can also now purchase or renew selected SOMPO motor insurance, travel insurance, personal accident insurance and home content insurance offered by Berjaya Sompo digitally end-to-end.

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Samir Gupta, CEO, Group Consumer Banking, CIMB Group says, “We are delighted to offer this first-of-its-kind all risks home insurance protection that will provide homeowners with peace of mind and convenience.”

“Its easy accessibility for online purchase is timely, given customers’ increasing reliance on secure and seamless processes that are integrated into today’s digital lifestyles.

Samir Gupta, CEO, Group Consumer Banking, CIMB Grou

The launch of Secure Home and introduction of an end-to-end digital process to purchase or renew insurance represent two main pivots of CIMB’s Forward23 strategy, namely Customer Centricity and Technology and Data.

Besides offering the right financial products and services for our customers, we are also committed to continuously enhancing customer experience.”

Tan Sek Kee, CEO, Berjaya Sompo Insurance says, Berjaya Sompo places great emphasis on customer-centricity through digitalisation initiatives.

With the launch of Secure Home, we aim to provide our customers a hassle-free way to purchase or renew their insurance digitally. Recognising the current economic condition, we will continue to look for avenues to offer our customers greater protection at an affordable rate.”

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The all risks home content protection provided by Secure Home is timely in providing peace of mind to customers and their families, as 2018 statistics from the Fire and Rescue Department show that Malaysians lost an estimated RM3.31 billion in property value due to fire.

Additionally, the Institute of Power Engineering at Universiti Tenaga Nasional, Malaysia said in 2018 that Malaysia had among the highest incidence of lightning activity in the world2, and lightning can cause severe damage to electrical appliances.

Distributed by CIMB and underwritten by Berjaya Sompo, Secure Home is available exclusively through all CIMB Bank branches and digital channels from 3 August 2020.

For more information, please visit www.cimb.com.my/sh.


Get the CIMB PETRONAS Platinum Credit Card!

Kuala Lumpur: CIMB Bank Berhad and CIMB Islamic Bank Berhad (collectively CIMB or the Bank) in collaboration with PETRONAS Dagangan Berhad (PDB) have introduced the enriched CIMB PETRONAS Platinum Credit Card and CIMB PETRONAS Platinum-i Credit Card (the Cards).

More than 200,000 cardholders are now able to enjoy extra savings with cash rebates of up to 10% on petrol transactions, via the Setel app with a minimum statement balance of RM1,500, and rebates of up to 5% for petrol transactions via card transactions, at all PETRONAS stations nationwide.

Samir Gupta, CEO, Group Consumer Banking, CIMB Group said, “CIMB is delighted to build on the successful partnership with PDB, now in its twelfth year, by introducing the enriched CIMB PETRONAS Platinum Credit Card and CIMB PETRONAS Platinum-i Credit Card, which is perfectly suited to the cashless lifestyle of today.

This synergy with PDB allows us to leverage on our respective strengths and evolve our product offerings to meet the customer’s ever-changing needs. The enhanced proposition, specially designed to give our customers the best value for their Cards, is very much in line with our promise to put the customer at the heart of everything we do.”

PDB Head of Retail Business, Khalil Muri said, “At PETRONAS, we aim to delight our customers by continuously enhancing their experience at our stations.

Through this partnership, we are able to offer higher cash rebates to our customers while providing a seamless and frictionless experience.

Subscribers of the enriched cards will also enjoy additional rebates when they transact via Setel, Malaysia’s first mobile application that integrates the e-payment platform with the pump, Kedai Mesra and loyalty benefits to create seamless retail-on-the-go experience for PETRONAS customers, which is now recognised as the only refuelling app in the market that helps minimise physical touch points.”

In conjunction with the relaunch, the Card also offers a host of auto-related benefits such as major discounts on car alignment and off-wheel balancing services, car polish and treatments, car tinting services and six months zero percent instalments on motor insurance renewals.

From 1 August to 31 October 2020, CIMB PETRONAS Platinum Credit Card cardholders are able to convert their credit card balances every month into instalment payments of up to 36 months at a competitive interest rate. This offer is specially curated to provide cardholders with the flexibility to manage and plan their card usage according to their budget.

As part of the plan to continuously promote cashless transactions, CIMB has worked with PDB to remove the RM200 pre-authorisation amount, required for petrol transactions using any CIMB credit or debit card at all Petronas stations. This will encourage more customers to use their CIMB credit or debit cards to pay for petrol, without worrying if they have enough credit limit or balance in their accounts.

The CIMB PETRONAS Platinum Credit Card and CIMB PETRONAS Platinum-i Credit Card are available for sign-up at the CIMB website or at any of our CIMB Bank branches nationwide. For more information, please visit www.cimb.com.my


CIMB on track to disburse RM15b to 100,000 SMEs

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Going beyond banking, refreshed proposition supports the national aspiration to build SME sector, the bank says

KUALA LUMPUR, Sept 25 (Bernama) — CIMB Bank Bhd and CIMB Islamic Bank Bhd are on track to disburse RM15 billion to SMEs in 2019 – 2020, far higher than the RM3.9 billion provided to Malaysian SMEs for the six-month period ending June 2019.

Tengku Dato’ Sri Zafrul Aziz, Group CEO, CIMB Group says, “With SMEs currently contributing more than one third of Malaysia’s GDP, banks have a responsibility to grow this sector, and to support the National Entrepreneurship Policy’s objective to have SMEs contribute 50% to the GDP by 2030.

“We have deepened our understanding of our customers, their pain points and how best to transform their journey with CIMB. Hence, the three pillars in our new SME proposition represent all the support that our SME customers need, not just in financing, but also in terms of business solutions that support their growth. Beyond financing, our support comprises knowledge-sharing and strategic partnerships, so that SMEs, start-ups and entrepreneurs can develop and scale up systematically.”

In facilitating SMEs to scale up regionally, CIMB’s partnership with Axiata Digital Capital provide 700,000 SMEs in Malaysia and Indonesia with access to financing solutions.

CIMB is also in collaboration with CapBridge Pte Ltd to facilitate SMEs’ capital raising by CIMB. Further, with the world’s demand for halal products and services far outstripping supply, CIMB’s strong global network and well-established ASEAN-China Halal Corridor provide SMEs with the perfect platform to access the halal market.

For this and other business needs, in collaboration with Credit Guarantee Corporation (CGC), CIMB Islamic has allocated RM2 billion unsecured Shariah financing; as well as micro financing to small business owners via the imSME, Malaysia’s first SME financing/loan referral platform, managed by CGC.

Customers now have access to micro financing via imSME at 10 selected branches from September onwards with the aim of making this available nationwide by year-end.  

“As an ASEAN multinational with a strong regional footprint, we are well-positioned to support SMEs that wish to take advantage of this market with its 648-million population,” adds Tengku Zafrul. 

In support of Malaysia’s national aspiration to nurture entrepreneurs, CIMB has committed to hold at least 1,000 talks in 2019, with 550 sessions held year-to-date, and with around 60 of these talks held in September alone, in conjunction with Bank Negara Malaysia’s SME Month.

CIMB’s complimentary talks feature key tips and advice on running a successful SME, covering topics such as credit score, forex hedging, as well as growth opportunities afforded by digital, big data, e-commerce and communications.

To date, over 4,000 SME business owners have benefitted from such talks. 

CIMB’s refreshed SME proposition forms part of CIMB’s current mid-term growth plan, Forward23. For more details, customers can visit https://cimbbank.com.my/smebanking 

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CIMB Investment Bank is top winner at Alpha SEA with 12 awards

Alpha SEA
From left: Siddiq (8th), Kong (10th) with CIMB employees, clients at the Alpha SEA Best Deals & Solutions Awards

CIMB Investment Bank is the top winner with 12 awards at the Alpha Southeast Asia Best Deals & Solutions Awards ceremony.

The report said the bank won 12 awards.

The awards include the following:

Best Bond House of the Year in Southeast Asia 2017 (CIMB Investment Bank Berhad)

Best IPO Deal of the Year in Southeast Asia 2017 (B.Grimm Power Public Company Ltd THB11.5 billion IPO).

Siddiq Bazarwala, CEO Alpha Southeast Asia (8th) and Datuk Kong Sooi Lin, CEO CIMB Investment Bank (10th), were at the ceremony.


DAVOS: Businesses looking towards sustainable political systems in Asean

Anne-Birgitte Albrectsen, Chief Executive Officer, Plan International, United Kingdom.Sigve Brekke, President and Chief Executive Officer, Telenor Group, Norway, Nazir Razak, Chairman, CIMB Group Holdings, Malaysia.Vuong Dinh Hue, Deputy Prime Minister of Viet Nam, Tharman Shanmugaratnam, Deputy Prime Minister and Coordinating Minister for Economic and Social Policies of Singapore, Mari Elka Pangestu, Professor of International Economics, University of Indonesia, Indonesia during the Session “Strategic Outlook: ASEAN ” at the Annual Meeting 2018 of the World Economic Forum in Davos, January 24, 2018.Copyright by World Economic Forum / Manuel Lopez

With a combined population of 640 million and a nominal GDP of more than $3 trillion, the 10 member countries of Asean are a key source of global growth. What is good for Asean is good for the world.

Priorities for the Asean group include inclusive growth, sustainable development, gender equality and economic integration.

This year is a big one politically, with elections in Cambodia, Indonesia, Malaysia and Thailand (most likely). Business is looking for continued peace and security but also progress towards more sustainable political systems and more reliable legal systems.

In particular, individual Asean governments are called upon to address key issues:
1. Reassess national policies towards entrepreneurs: vested interests and incumbents often prove insurmountable, preventing Asean unicorns from arising
2. Get the balance right between private enterprise and state-owned enterprises
3. Strengthen legal systems to bring certainty to long-term contracts
4. Tackle entrenched gender norms to help release the potential for women and girls
5. Continue the push towards elimination of corruption and misuse of public funds
At the Asean level, business and government leaders call for a more aggressive pace of integration.

The “Asean Way” – emphasizing consultation and consensus building – has maintained intra-
Asean harmony since the grouping’s formation in 1967. This approach, however, has fallen short when it comes to integration. Without regional harmonization and economies of scale, the danger is that global platform companies could crowd out regional innovators. This risks Asean falling behind in the ongoing Fourth Industrial Revolution.

Finally, the next phase of economic progress in Asean will need to be driven by women and youth.

Regional GDP would be 10-20% larger if women were fully integrated into the workforce. Improving digital literacy alone would bring over 20 million women into the digital economy. In terms of prospects, the main concern is unemployment, with youth unemployment up to five times that of national averages in some cases – an unsustainable situation.

Asean can lead the world in demonstrating the advantages of integration and harmonization. To do this, women and youth need to be in the driver’s seat.

Gareth Shepherd, Official Writer at the World Economic Forum Annual Meeting 2018


Human touch is part of CIMB’s customer value proposition: Gupta

Samir Gupta: We want customers to be at ease

CIMB Group CEO, Group Consumer Banking, Samir Gupta said at CIMB, Customer Experience is one of the pivotal areas of the Group’s T18 strategy.

Although we have digitalised and added analytics and robotics to our consumer banking business, the human touch still remains as part of CIMB’s customer value proposition. 

“For example, customers can still choose to walk into a branch or speak to us via our contact centre. Our Relationship Managers are also on hand to assist CIMB Preferred customers with their banking needs,” he said.

Customer service has been identified as the key success factor to the winning, growing and retaining of customers in the banking industry, he said.

“Various enhancements have been put in place to improve our customers’ journey with us. One of the key areas we’re looking at is improving turnaround time. Customers today want things done quickly and conveniently,” he said.

For example, with straight-through-processing for our mortgage applications, customers will receive instant decisions on their mortgage eligibility.

“We’ve also recently introduced the Robotic Process Automation (RPA) in our banking operations, reducing turnaround time and faster processing for selected banking operations, resulting in improved customer experience.

“Our customers can also be assured of continued robust security across all our banking transactions, whether at a branch, online or via mobile.”

In providing a delightful customer experience, our objectives are to make CIMB EASY to bank with, to make our transactions EFFICIENT and to go the EXTRA MILE for our customers, said Gupta.

CIMB is also revamping the Enhanced Virtual Assistant (EVA) natural language processing capabilities. EVA is a mobile banking app.

“The enhancements will enable EVA to hold a natural conversation in English, as well as in Bahasa Malaysia later in 2018,” he said.

Since its launch in December 2016, we have continuously expanded EVA features and customers can check account balances, perform fund transfers and bill payments.

The app was recently enhanced with the spend analyser function, where customers can view the categorised spend analysis of their CIMB debit, credit and prepaid cards.

This is the first step towards more enhancements and features in 2018, to provide real-time data and insights for customers, as well as allow CIMB to personalise recommendations of retail offers and discounts in real time via predictive modelling.

The article, written by Kazi Mahmood, appeared in Malay Mail online edition.


CIMB Foundation launches MOZEK for students.

Her Majesty Raja Zarith Sofia Binti Almarhum Sultan Idris Shah, Permaisuri of Johor with students from various schools around Pasir Gudang at the launch of CIMB Foundation’s CIMB MOZEK at SMK Taman Scientex, Pasir Gudang Johor together with Dato’ Sri Nazir Razak, Chairman CIMB Group and Trustee of CIMB Foundation (seated third from left), Tuan Haji Shaharuddin Shariff, Director of Johor Education Department (seated first from right), Dato’ Robert Chiem, Trustee of CIMB Foundation (seated second from left), Dato’ Noor Rezan Bapoo Hashim, Trustee of Teach For Malaysia (seated first from left), and Dato’ Hamidah Naziain, CEO CIMB Foundation (seated second from right)

The CIMB Foundation today launched CIMB MOZEK, a holiday camp for students promoting integration and unity.

The project was launched in collaboration with Teach For Malaysia (TFM) and is Cimb Foundation’s flagship initiative embracing its “Diversity and Inclusion” guiding principle.

“These principles cuts across all of the Foundation’s programmes to ensure that they will benefit as many people as possible, regardless of their race, religion, age or gender,” said the Foundation in a media release.

Launched by Her Majesty Raja Zarith Sofiah Binti Almarhum Sultan Idris Shah, Permaisuri of Johor it was witnessed by Datuk Seri Nazir Razak, Chairman of CIMB Group; Tuan Haji Shaharuddin Shariff, Director of Johor Education Department; Trustees from CIMB Foundation; Datuk Noor Rezan Bapoo Hashim, Trustee of TFM; as well as Datuk Hamidah Naziadin, CEO of CIMB Foundation.

Datuk Seri Nazir Razak, who is also a trustee of CIMB Foundation, said: “CIMB is committed to nurturing diversity through the CIMB MOZEK Camp, which promotes students’ cultural awareness and their appreciation of our diversity as Malaysia’s collective strength.

“Children are our most precious assets, which makes our teachers the most important asset managers, whose crucial role is also recognized and enhanced to facilitate diversity learning at schools based on
the specially curated MOZEK syllabus.”

“The word ‘MOZEK’ was specifically chosen as it represents a beautiful combination of mosaic pieces of various sizes, shapes and colours, reflecting how each of us carries our own piece of
‘mosaic’ defined by our ethnicity, culture, racial identity and language.

The unique combination of our cultural differences is what makes up a beautiful mosaic that should be nurtured to ensure the continued harmony of our multi-cultural community,” continued Nazir.

CIMB MOZEK is currently being piloted with students from SMK Taman Scientex, from 26 November until 14 December. 543 children are undergoing this programme to gain exposure to cooperative learning and inter-ethnic appreciation, facilitated by 59 teachers.

Youth is a special target group in the Foundation’s three key pillars, be it in Sports, Education and Community development.

Under Education, the Foundation continues to develop youths
through impactful programmes like CIMB MOZEK, as well as others like Be$MART, its flagship financial literacy programme for students from higher-learning institutions.

Earlier this month, the CIMB Group had pledged 1% of the Group’s profit before tax (PBT) for its Foundation-led CSR initiatives for the period 2018 – 2020 across ASEAN.