KUALA LUMPUR: CIMB Group Holdings Bhd is targeting RM12 billion for B40 segment financing needs, which include facilities ranging from home and auto to Amanah Saham Bumiputera (ASB) and personal financing from now till 2020.
Group chief executive officer Tengku Datuk Sri Zafrul Aziz said that the new target was in line with CIMB’s next mid-term growth plan, Forward23.
“A nation’s prosperity is only meaningful when every single one of its people is enabled to prosper. Being particularly mindful of the B40 segment, CIMB has taken extra steps to ensure that our lending policies are financially inclusive,” he said in a statement.
“To that end, through CIMB Bank and CIMB Islamic, we have targeted to disburse RM12 billion to the B40 segment as home, auto, ASB or personal financing for the period 2019 – 2020, and we will not stop there. We will continue to find ways to assist the B40 segment, whether through our business operations, or corporate responsibility initiatives.”
A further RM2 million has been allocated for the programme to empower more small business owners from the B40 segment, this year.
CIMB Group has also committed one per cent of its profit before tax in the period 2018 - 2020 to fund its corporate responsibility initiatives in Asean
Headquartered in Kuala Lumpur, CIMB Group is present in all 10 Asean nations namely Malaysia, Indonesia, Singapore, Thailand, Cambodia, Brunei, Vietnam, Myanmar, Laos and Philippines, it also has market presence in China, Hong Kong, India, Sri Lanka, Korea, the United States and United Kingdom.
Its market capitalisation stood at RM54.6 billion as at December 31 2018.