Year 1924 - Bian Chiang Bank established in 1924 in Kuching.
Bian Chiang Bank was established in Kuching by Wee Kheng Chiang in 1924. In its early days, the bank's activities were mainly related to business financing and the issuance of bills of exchange.
The prominent Wee family soon became famous as founding members of the United Overseas Bank (UOB) in Singapore in 1971.
Year 1935 - Ban Hin Lee Bank (BHLB) established in 1935 in Penang.
Ban Hin Lee Bank Berhad, founded by "Towkay" Yeap Chor Ee, was formally incorporated as a private limited company in September 17, 1935. The Bank's original business focus was serving local businessmen in their trading and merchanting activities. In the 1960's, it also branched into real estate and house financing.
By the 1990s, the bank had become a modern and thriving financial institution, reaching throughout Malaysia and Singapore from its headquarters in Penang. Reflecting the confidence of investors, Ban Hin Lee Bank became a public-listed company on the Kuala Lumpur Stock Exchange (KLSE) on January 7, 1991.
Year 1965 - Southern Bank Berhad (SBB) is founded as Southern Banking Ltd. in 1965.
From humble roots in Penang, Southern Banking Limited quickly expanded to other parts of the country. In 1978, the bank set up operations in Kuala Lumpur. Southern Bank Berhad ("SBB") was to become recognised as an important player in wealth management products, credit cards and SME lending. The bank was the first in the country to set up the MEPS / ATM system used throughout Malaysia today.
Year 1965 - Bank Bumiputra Malaysia Berhad (BBMB) incorporated 1965.
Bank Bumiputra was established in 1965 in line with government initiatives to increase the Bumiputra participation in the national economy. The bank grew to become the most prominent bank for all Malaysians with branches throughout the country. Its banking infrastructure provided access to banking facilities where there was none before, contributing to the growth of small-scale enterprises and assisting the flow of investment into rural areas.
By the 1980s, it had become the largest bank in the country in terms of assets and was the first domestic bank to have operations in New York, London, Tokyo, Bahrain and Hong Kong. In 1982, it was listed as the largest bank in Southeast Asia by Asian Finance magazine.
Year 1972 - United Asian Bank Berhad (UAB) is established in Kuala Lumpur as a result of the merger of three Indian-owned banks; Indian Overseas Bank Ltd, Indian Bank Ltd and United Commercial Bank Ltd.
UAB started as a joint-venture in banking between Malaysia and India, taking over the operations of the Malaysian branches of Indian banks in 1972. The bank's business was mainly directed at small businesses and individuals. In its time, UAB established a reputation for encouraging enterprise amongst less prosperous sections of the community.
Year 1974 - Pertanian Baring Sanwa Multinational Berhad (PBS) incorporated April 1974.
PBS was founded by Bank Pertanian, Baring Brothers of United Kingdom, Sanwa Bank of Japan and Multinational Bank of the United Kingdom. Under the management of Baring Brothers, it provided corporate advisory and funding services to multinationals, and undertook corporate restructuring and merger and acquisition activities for Malaysian companies. Practicing a conservative and prudent approach, with a strict credit culture that limited its trading activities, the merchant bank remained relatively small compared to others.
Year 1979 - Bian Chiang Bank is renamed Bank of Commerce Berhad in November 1979.
The purchase of Bian Chiang Bank by the UMNO-owned Fleet Group in 1979 led to the formation of Bank of Commerce. Retaining the initials BCB, the new bank had a strong focus on systems and transparency from the very beginning, reflecting the management style of co-shareholder JP Morgan. An aggressive, performance-driven work culture pushed the bank forward, contributing to its emergence as one of the most progressive banks in the industry.
In 1982, just three years since incorporation, what started out as a one-branch bank worth RM8 million had become an institution with the total assets of RM367 million and total shareholders' funds of RM12.8 million.
Year 1986 - Pertanian Baring Sanwa Multinational Berhad is renamed Commerce International Merchant Bankers Berhad.
In 1986, Bank of Commerce Berhad replaced Bank Pertanian as the controlling shareholder of PBS, following which its name was changed to Commerce International Merchant Bankers Berhad (CIMB). The new shareholders retained its focus on corporate finance and IPO's and in 1989 it emerged as Malaysia's top advisor for new listings.
CIMB soon added stockbroking to complement its advisory and listings expertise, establishing an award-winning reputation as an equities broker and IPO house. This positioned the firm to enjoy high profits during the early 1990s equities "bull run". At the height of the buoyant era in equities, CIMB took a major strategic decision to build its capabilities in fixed income in anticipation of future market opportunities. This placed CIMB in an excellent position to reap rewards from the exponential bond market growth in the late 1990s.
Year 1991 - In November 1991, Bank of Commerce merges with UAB and a new entity is named Bank of Commerce (M) Berhad. Bank of Commerce Berhad, the listed holding company, is renamed Commerce-Asset Holdings Berhad (CAHB).
The acquisition of UAB by Bank of Commerce was the starting point for the significant expansion of this nascent force in banking. With the acquisition, the Bank of Commerce branch network increased almost fourfold, complementing its established reputation in the corporate lending market.
Year 1999 - October 1999, BBMB and Bank of Commerce merged to form Bumiputra-Commerce Bank under CAHB control.
In 1999, BBMB (emerged out of the Asian Financial Crisis and other financial problems to) merged with the Bank of Commerce, resulting in the biggest merger in Malaysia's banking history. Together as the Bumiputra-Commerce Bank, it became the bank of choice to many multinational and local corporations, government organizations and individual Malaysians.
Today, BCB reaches out to 4 million Malaysians around the world with its extensive 270 branch network nationwide and overseas branches across major financial centres. Over the years, BCB has become part of the fabric of Malaysian society - a bank for the people.
Year 2000 - Southern Bank acquires Ban Hin Lee Bank Berhad on 1 July 2000 along with United Merchant Finance Berhad (now Southern Finance Berhad), Perdana Finance Berhad and Cempaka Finance Berhad.
As part of the government initiated banking consolidation plan, Southern Bank Berhad and Ban Hin Lee Bank Berhad merged and also took over two small finance companies, Perdana Finance Berhad and Cempaka Finance Berhad.
Year 2003 - January 2003, CIMB Berhad lists on the KLSE (Main Board of Bursa Malaysia).
The listing of CIMB on the Kuala Lumpur Stock Exchange exceeded the expectations of investors and employees alike. The listed CIMB Berhad surpassed the IPO Prospectus forecast within six months.
As it turned out, CIMB's listing lasted only three years due to upcoming developments, but not before delivering returns of 340% to its shareholders.
Year 2003 - CIMB Islamic launches in 2003.
Officially launched by Bank Negara Governor Tan Sri Dato' Dr. Zeti Akhtar Aziz in June 2003. Since that time, CIMB Islamic has won numerous accolades for its innovative Syariah compliant solutions.
Commerce-Tijari Bank Berhad was launched as the Islamic banking subsidiary of Bumiputra-Commerce Bank in April 2005. The new bank extended the expertise of the Commerce Group, providing the consumer market with an Islamic alternative for deposit accounts and financing.
Year 2004 - CIMB Berhad acquires 70% of CTB and CAFM from BCHB. CTB and CAFM were subsequently merged to become CIMB-Principal Asset Management Berhad (CPAM).
The formation of CIMB-Principal Asset Management marked the entry of a new player to Malaysia's burgeoning asset management sector. The acquisition of Commerce Trust Berhad and Commerce Asset Fund Managers Berhad led to the formation of CIMB-Principal, a joint venture with the Principal Group of USA. It was not long before CIMB-Principal made a decisive impact, winning numerous accolades for the returns from innovative products, such as the Global Titans Fund - Malaysia's first global equity investment fund.
Year 2005 - June 2005, CIMB acquires G. K. Goh Securities Pte Ltd, which is renamed to CIMB-GK Securities Pte. Ltd.
The acquisition of Singapore based G. K. Goh led to the formation of CIMB-GK, CIMB's international investment banking operations. G. K. Goh was founded in Singapore in 1979, evolving into a reputable pan-Asian stockbroking franchise with operations in Singapore, Jakarta, Hong Kong, London and the United States.
Year 2005 - June 2005, CIMB announces acquisition of Bumiputra-Commerce Group from CAHB.
The acquisition of the Bumiputra-Commerce Group by CIMB was was announced following the strategic decision by Commerce Asset Holdings Berhad (CAHB) to create a universal bank by combining its commercial and investment banks. As part of the exercise, CAHB was renamed Bumiputra-Commerce Holdings Berhad.
Year 2006 - January 2006, CIMB Group completes restructuring exercise under Bumiputra-Commerce Holdings Berhad.
The beginning of 2006 marked the birth of the new CIMB Group, a universal bank. Complemented by the resources and reach of BCB, one of Malaysia's foremost retail providers, CIMB Group made the transition to a full-service banking provider, serving a range of customers, from corporates to individuals.
Encapsulating investment banking, consumer banking, asset management and Islamic products and services, CIMB Group was now poised to make its mark on the Malaysian financial landscape.
Year 2006 - March 2006, Southern Bank Berhad Board of Directors agrees to purchase by BCHB.
After months of negotiations, the acquisition of Southern Bank Berhad marked the addition of a valued niche player in commercial banking to the CIMB Group. A force to be reckoned with, the merger combined the extensive resources and reach of BCB with the expertise and agility of SBB.
Year 2006 - Launch of CIMB Group as a Regional Universal Bank.
The new CIMB Group was launched by the Prime Minister of Malaysia, YAB Dato’ Seri Abdullah bin Haji Ahmad Badawi in September 2006, signifying the culmination of the 3-way merger of Commerce International, BCB and SBB to form a universal banking group. As a universal bank, CIMB Group has the full range of banking and financial services - conventional and Islamic - to serve everyone from the smallest retail client to the largest companies and institutions. In line with its vision “To be Southeast Asia’s Most Valued Universal Bank”, the Group embarked on a rebranding exercise and unveiled its new logo and new tagline “Forward Banking”, reflecting its promise to create value for customers through forward thinking.
Year 2007 - CIMB-GK Securities (Thailand) Ltd and CIMB-GK Securities (USA) Inc.
CIMB Group launched its flagship presence in both Thailand and USA, adding on to the Group’s already strong investment banking, stockbroking and institutional sales franchise in Kuala Lumpur, Singapore, Jakarta, Bangkok and Hong Kong.
Year 2007 - CIMB Foundation launched in November 2007.
CIMB Foundation is a non-for profit organisation that will carry out the Group’s corporate social responsibility and philanthropic initiatives, focusing on sustainable programmes in community development, sports and education. In support of its commitment, CIMB Group has pledged an initial sum of RM100 million to CIMB Foundation.
Year 2008 - Strategic investment in the Bank of Yingkou, China.
CIMB Group entered into an agreement for a 19.99% stake in the Bank of Yingkou, adding mainland China to the Group’s network which comprises Southeast Asia and global financial centres and large economies which have strong economic, trade and investment linkages with Southeast Asia.
Year 2008 - Merger of PT Bank Niaga Tbk & PT Bank Lippo Tbk.
CIMB Group created the 6th largest bank in Indonesia at the point of the merger between PT Bank Niaga Tbk with PT Bank Lippo Tbk. This was an initiative of Khazanah Nasional Berhad, the ultimate shareholder of CIMB Group and the banks, to comply with Bank Indonesia’s Single Presence Policy (SPP). The merger marked the first major consolidation of private banks under the SPP. The merged bank has been rebranded as “CIMB Niaga”.
Year 2008 - CIMB-Principal Islamic Asset Management Launched.
CIMB Group and the Principal Financial Group strengthened their partnership with the launch of CIMB-Principal Islamic Asset Management. The 50:50 joint venture serves as the global Shariah funds management arm of both entities, and is located in Kuala Lumpur to leverage the infrastructure of the Malaysia International Islamic Financial Centre.
Year 2008 - Acquisition of BankThai.
CIMB Group entered into an agreement with the Financial Institutions Development Fund to purchase a 42.13% stake in BankThai Public Company Limited. The Group’s ensuing tender offer for the remaining shares in BankThai, and a rights issue, resulted in the stake increasing to 93%. The acquisition of BankThai completes CIMB Group’s universal banking platform across major Southeast Asian markets – Malaysia, Indonesia, Singapore and Thailand – and makes the Group’s retail network the largest in Southeast Asia with 1,150 branches. BankThai has since been rebranded as CIMB Thai.
Bian Chiang Bank was established in Kuching by Wee Kheng Chiang in 1924. In its early days, the bank's activities were mainly related to business financing and the issuance of bills of exchange.
The prominent Wee family soon became famous as founding members of the United Overseas Bank (UOB) in Singapore in 1971.
Year 1935 - Ban Hin Lee Bank (BHLB) established in 1935 in Penang.
Ban Hin Lee Bank Berhad, founded by "Towkay" Yeap Chor Ee, was formally incorporated as a private limited company in September 17, 1935. The Bank's original business focus was serving local businessmen in their trading and merchanting activities. In the 1960's, it also branched into real estate and house financing.
By the 1990s, the bank had become a modern and thriving financial institution, reaching throughout Malaysia and Singapore from its headquarters in Penang. Reflecting the confidence of investors, Ban Hin Lee Bank became a public-listed company on the Kuala Lumpur Stock Exchange (KLSE) on January 7, 1991.
Year 1965 - Southern Bank Berhad (SBB) is founded as Southern Banking Ltd. in 1965.
From humble roots in Penang, Southern Banking Limited quickly expanded to other parts of the country. In 1978, the bank set up operations in Kuala Lumpur. Southern Bank Berhad ("SBB") was to become recognised as an important player in wealth management products, credit cards and SME lending. The bank was the first in the country to set up the MEPS / ATM system used throughout Malaysia today.
Year 1965 - Bank Bumiputra Malaysia Berhad (BBMB) incorporated 1965.
Bank Bumiputra was established in 1965 in line with government initiatives to increase the Bumiputra participation in the national economy. The bank grew to become the most prominent bank for all Malaysians with branches throughout the country. Its banking infrastructure provided access to banking facilities where there was none before, contributing to the growth of small-scale enterprises and assisting the flow of investment into rural areas.
By the 1980s, it had become the largest bank in the country in terms of assets and was the first domestic bank to have operations in New York, London, Tokyo, Bahrain and Hong Kong. In 1982, it was listed as the largest bank in Southeast Asia by Asian Finance magazine.
Year 1972 - United Asian Bank Berhad (UAB) is established in Kuala Lumpur as a result of the merger of three Indian-owned banks; Indian Overseas Bank Ltd, Indian Bank Ltd and United Commercial Bank Ltd.
UAB started as a joint-venture in banking between Malaysia and India, taking over the operations of the Malaysian branches of Indian banks in 1972. The bank's business was mainly directed at small businesses and individuals. In its time, UAB established a reputation for encouraging enterprise amongst less prosperous sections of the community.
Year 1974 - Pertanian Baring Sanwa Multinational Berhad (PBS) incorporated April 1974.
PBS was founded by Bank Pertanian, Baring Brothers of United Kingdom, Sanwa Bank of Japan and Multinational Bank of the United Kingdom. Under the management of Baring Brothers, it provided corporate advisory and funding services to multinationals, and undertook corporate restructuring and merger and acquisition activities for Malaysian companies. Practicing a conservative and prudent approach, with a strict credit culture that limited its trading activities, the merchant bank remained relatively small compared to others.
Year 1979 - Bian Chiang Bank is renamed Bank of Commerce Berhad in November 1979.
The purchase of Bian Chiang Bank by the UMNO-owned Fleet Group in 1979 led to the formation of Bank of Commerce. Retaining the initials BCB, the new bank had a strong focus on systems and transparency from the very beginning, reflecting the management style of co-shareholder JP Morgan. An aggressive, performance-driven work culture pushed the bank forward, contributing to its emergence as one of the most progressive banks in the industry.
In 1982, just three years since incorporation, what started out as a one-branch bank worth RM8 million had become an institution with the total assets of RM367 million and total shareholders' funds of RM12.8 million.
Year 1986 - Pertanian Baring Sanwa Multinational Berhad is renamed Commerce International Merchant Bankers Berhad.
In 1986, Bank of Commerce Berhad replaced Bank Pertanian as the controlling shareholder of PBS, following which its name was changed to Commerce International Merchant Bankers Berhad (CIMB). The new shareholders retained its focus on corporate finance and IPO's and in 1989 it emerged as Malaysia's top advisor for new listings.
CIMB soon added stockbroking to complement its advisory and listings expertise, establishing an award-winning reputation as an equities broker and IPO house. This positioned the firm to enjoy high profits during the early 1990s equities "bull run". At the height of the buoyant era in equities, CIMB took a major strategic decision to build its capabilities in fixed income in anticipation of future market opportunities. This placed CIMB in an excellent position to reap rewards from the exponential bond market growth in the late 1990s.
Year 1991 - In November 1991, Bank of Commerce merges with UAB and a new entity is named Bank of Commerce (M) Berhad. Bank of Commerce Berhad, the listed holding company, is renamed Commerce-Asset Holdings Berhad (CAHB).
The acquisition of UAB by Bank of Commerce was the starting point for the significant expansion of this nascent force in banking. With the acquisition, the Bank of Commerce branch network increased almost fourfold, complementing its established reputation in the corporate lending market.
Year 1999 - October 1999, BBMB and Bank of Commerce merged to form Bumiputra-Commerce Bank under CAHB control.
In 1999, BBMB (emerged out of the Asian Financial Crisis and other financial problems to) merged with the Bank of Commerce, resulting in the biggest merger in Malaysia's banking history. Together as the Bumiputra-Commerce Bank, it became the bank of choice to many multinational and local corporations, government organizations and individual Malaysians.
Today, BCB reaches out to 4 million Malaysians around the world with its extensive 270 branch network nationwide and overseas branches across major financial centres. Over the years, BCB has become part of the fabric of Malaysian society - a bank for the people.
Year 2000 - Southern Bank acquires Ban Hin Lee Bank Berhad on 1 July 2000 along with United Merchant Finance Berhad (now Southern Finance Berhad), Perdana Finance Berhad and Cempaka Finance Berhad.
As part of the government initiated banking consolidation plan, Southern Bank Berhad and Ban Hin Lee Bank Berhad merged and also took over two small finance companies, Perdana Finance Berhad and Cempaka Finance Berhad.
Year 2003 - January 2003, CIMB Berhad lists on the KLSE (Main Board of Bursa Malaysia).
The listing of CIMB on the Kuala Lumpur Stock Exchange exceeded the expectations of investors and employees alike. The listed CIMB Berhad surpassed the IPO Prospectus forecast within six months.
As it turned out, CIMB's listing lasted only three years due to upcoming developments, but not before delivering returns of 340% to its shareholders.
Year 2003 - CIMB Islamic launches in 2003.
Officially launched by Bank Negara Governor Tan Sri Dato' Dr. Zeti Akhtar Aziz in June 2003. Since that time, CIMB Islamic has won numerous accolades for its innovative Syariah compliant solutions.
Commerce-Tijari Bank Berhad was launched as the Islamic banking subsidiary of Bumiputra-Commerce Bank in April 2005. The new bank extended the expertise of the Commerce Group, providing the consumer market with an Islamic alternative for deposit accounts and financing.
Year 2004 - CIMB Berhad acquires 70% of CTB and CAFM from BCHB. CTB and CAFM were subsequently merged to become CIMB-Principal Asset Management Berhad (CPAM).
The formation of CIMB-Principal Asset Management marked the entry of a new player to Malaysia's burgeoning asset management sector. The acquisition of Commerce Trust Berhad and Commerce Asset Fund Managers Berhad led to the formation of CIMB-Principal, a joint venture with the Principal Group of USA. It was not long before CIMB-Principal made a decisive impact, winning numerous accolades for the returns from innovative products, such as the Global Titans Fund - Malaysia's first global equity investment fund.
Year 2005 - June 2005, CIMB acquires G. K. Goh Securities Pte Ltd, which is renamed to CIMB-GK Securities Pte. Ltd.
The acquisition of Singapore based G. K. Goh led to the formation of CIMB-GK, CIMB's international investment banking operations. G. K. Goh was founded in Singapore in 1979, evolving into a reputable pan-Asian stockbroking franchise with operations in Singapore, Jakarta, Hong Kong, London and the United States.
Year 2005 - June 2005, CIMB announces acquisition of Bumiputra-Commerce Group from CAHB.
The acquisition of the Bumiputra-Commerce Group by CIMB was was announced following the strategic decision by Commerce Asset Holdings Berhad (CAHB) to create a universal bank by combining its commercial and investment banks. As part of the exercise, CAHB was renamed Bumiputra-Commerce Holdings Berhad.
Year 2006 - January 2006, CIMB Group completes restructuring exercise under Bumiputra-Commerce Holdings Berhad.
The beginning of 2006 marked the birth of the new CIMB Group, a universal bank. Complemented by the resources and reach of BCB, one of Malaysia's foremost retail providers, CIMB Group made the transition to a full-service banking provider, serving a range of customers, from corporates to individuals.
Encapsulating investment banking, consumer banking, asset management and Islamic products and services, CIMB Group was now poised to make its mark on the Malaysian financial landscape.
Year 2006 - March 2006, Southern Bank Berhad Board of Directors agrees to purchase by BCHB.
After months of negotiations, the acquisition of Southern Bank Berhad marked the addition of a valued niche player in commercial banking to the CIMB Group. A force to be reckoned with, the merger combined the extensive resources and reach of BCB with the expertise and agility of SBB.
Year 2006 - Launch of CIMB Group as a Regional Universal Bank.
The new CIMB Group was launched by the Prime Minister of Malaysia, YAB Dato’ Seri Abdullah bin Haji Ahmad Badawi in September 2006, signifying the culmination of the 3-way merger of Commerce International, BCB and SBB to form a universal banking group. As a universal bank, CIMB Group has the full range of banking and financial services - conventional and Islamic - to serve everyone from the smallest retail client to the largest companies and institutions. In line with its vision “To be Southeast Asia’s Most Valued Universal Bank”, the Group embarked on a rebranding exercise and unveiled its new logo and new tagline “Forward Banking”, reflecting its promise to create value for customers through forward thinking.
Year 2007 - CIMB-GK Securities (Thailand) Ltd and CIMB-GK Securities (USA) Inc.
CIMB Group launched its flagship presence in both Thailand and USA, adding on to the Group’s already strong investment banking, stockbroking and institutional sales franchise in Kuala Lumpur, Singapore, Jakarta, Bangkok and Hong Kong.
Year 2007 - CIMB Foundation launched in November 2007.
CIMB Foundation is a non-for profit organisation that will carry out the Group’s corporate social responsibility and philanthropic initiatives, focusing on sustainable programmes in community development, sports and education. In support of its commitment, CIMB Group has pledged an initial sum of RM100 million to CIMB Foundation.
Year 2008 - Strategic investment in the Bank of Yingkou, China.
CIMB Group entered into an agreement for a 19.99% stake in the Bank of Yingkou, adding mainland China to the Group’s network which comprises Southeast Asia and global financial centres and large economies which have strong economic, trade and investment linkages with Southeast Asia.
Year 2008 - Merger of PT Bank Niaga Tbk & PT Bank Lippo Tbk.
CIMB Group created the 6th largest bank in Indonesia at the point of the merger between PT Bank Niaga Tbk with PT Bank Lippo Tbk. This was an initiative of Khazanah Nasional Berhad, the ultimate shareholder of CIMB Group and the banks, to comply with Bank Indonesia’s Single Presence Policy (SPP). The merger marked the first major consolidation of private banks under the SPP. The merged bank has been rebranded as “CIMB Niaga”.
Year 2008 - CIMB-Principal Islamic Asset Management Launched.
CIMB Group and the Principal Financial Group strengthened their partnership with the launch of CIMB-Principal Islamic Asset Management. The 50:50 joint venture serves as the global Shariah funds management arm of both entities, and is located in Kuala Lumpur to leverage the infrastructure of the Malaysia International Islamic Financial Centre.
Year 2008 - Acquisition of BankThai.
CIMB Group entered into an agreement with the Financial Institutions Development Fund to purchase a 42.13% stake in BankThai Public Company Limited. The Group’s ensuing tender offer for the remaining shares in BankThai, and a rights issue, resulted in the stake increasing to 93%. The acquisition of BankThai completes CIMB Group’s universal banking platform across major Southeast Asian markets – Malaysia, Indonesia, Singapore and Thailand – and makes the Group’s retail network the largest in Southeast Asia with 1,150 branches. BankThai has since been rebranded as CIMB Thai.
