10 June 2026
Partnership to support both banks’ clients’ business operations and expansion across China–ASEAN corridor through more seamless cross-border banking and financing solutions
Kuala Lumpur : CIMB Bank Berhad (“CIMB Bank” or “CIMB”) has recently signed a Letter of Intent (“LOI”) with China CITIC Bank Corporation Limited (“China CITIC Bank”) to strengthen financial connectivity between China and ASEAN, particularly in Malaysia and Indonesia, by facilitating bilateral trade, cross-border financing and investment flows across the region. The partnership, which leverages China CITIC Bank’s robust onshore network in China and CIMB’s extensive ASEAN footprint, will support these objectives by providing clients of both banks with more seamless access to a comprehensive suite of banking solutions spanning trade transactions, payments and cross-border financing to support their operational and expansion needs.
The partnership will also support Chinese Yuan Renminbi (“RMB”) and foreign currency payment and clearing capabilities, including potential access to China’s Cross-Border Interbank Payment System (“CIPS”), interbank RMB funding arrangements and offshore lending into ASEAN markets, further strengthening financial linkages across the China-ASEAN corridor.
Beyond product and financing solutions, both banks will explore head-office-level communications to streamline cross-border treasury and cash management capabilities, including account opening, maintenance and management services to local enterprises. This is expected to strengthen operational coordination across both banks’ head offices and branches, enabling clients to manage their cross-border transactions more efficiently as they expand across the China-ASEAN corridor.
Another key aspect of the partnership is both banks’ commitment to supporting clients’ expansion across China and ASEAN. Through mutual client referrals and advisory services, both banks will support clients in navigating market entry, fulfilling regulatory requirements, executing cross-border transaction and pursuing mergers and acquisition opportunities. In addition, both banks will explore syndicated loans collaboration across global primary and secondary markets to broaden clients’ access to regional and international financing opportunities.
Chu Kok Wei, Chief Executive Officer, Group Wholesale Banking, CIMB said, “As trade, investment and supply chain linkages between China and ASEAN continue to deepen, businesses increasingly require banking partners that can help them navigate both markets more seamlessly. CIMB has a strong presence in ASEAN, and we are best-positioned to connect clients to opportunities across the China–ASEAN corridor through more integrated trade, financing and cross-border banking capabilities. 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."
