5 May 2026
In line with its Forward30 plan to sharpen business focus and exit non-core businesses
Kuala Lumpur : CIMB Group Holdings Berhad (“CIMB” or “the Group”) today announced the sale of CIMB Thai Bank Public Company Limited’s (“CIMB Thai”) automotive financing portfolio to Bank of Ayudhya Public Company Limited and its subsidiary (“Krungsri”) at a modest premium to adjusted net book value. The sale forms part of the Group’s ongoing Forward30 strategic plan to exit non-core businesses while reallocating capital to grow, ensuring sustainable returns and disciplined resource allocation across its ASEAN franchise.
Accelerating CIMB Thai’s transformation to achieve double digit ROE
The portfolio sale marks a key milestone in CIMB Thai’s ongoing comprehensive transformation programme, which includes operating model enhancements, branch and cost base optimisation, portfolio rebalancing and repositioning towards higher-return banking segments, such as wealth management and regional wholesale banking.
Following completion of this transformation, the Group expects CIMB Thai’s return on equity (“ROE”) to improve towards double digit levels and be accretive to the Group over the medium term, supported by a more focused franchise and optimised capital deployment. The Group’s earlier guidance for 2026 financial targets has incorporated the impact of this sale and related one-off cost.
Novan Amirudin, Group Chief Executive Officer, CIMB Group said, “This transaction reflects disciplined execution of our Forward30 strategy as we continue sharpening our portfolio across ASEAN and exiting non-core businesses. We are strengthening the capital allocation and positioning of CIMB Thai for more sustainable profitability and growth. The restructuring enhances CIMB Thai’s competitiveness and focus, while allowing the Group to redeploy capital into priority growth areas that deliver stronger long-term shareholder returns."
Strengthening ASEAN connectivity
As one of ASEAN’s largest economies, CIMB Thai remains an integral component of CIMB’s regional platform. CIMB Thai will continue leveraging its domestic franchise to support intra-ASEAN trade and investment flows, cross-border corporate, affluent banking opportunities and regional client connectivity in line with CIMB’s aspiration to be the top-of-mind ASEAN bank.
