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Cimb

In: Business and Management

Submitted By acirearierep
Words 288
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Introduction
Background of CIMB Bank
Our assignment is to investigate the products and services offer by CIMB Bank. The reason we choose CIMB Bank is that it is a pure Malaysian bank. The Board of Director and management team almost all form by Malaysian.
The Chairman of CIMB Bank is Tan Sri Dato’ Md Nor and the Chief Executive Officer of CIMB Bank is Dato' Sri Nazir Razak (The son of the Second Malaysia prime minister, Tun Abdul Razak). CIMB Bank is an indigenous ASEAN investment bank and has the widest retail branch network across the region, with over 1100 branches.
Briefly discuss about the history of CIMB Bank. CIMB Bank was not the original name at the beginning. It named after the merged of Bank of Commerce (Bian Chiang Bank), United Asian Bank, Bank Bumiputra and so on. At the year 1924, the founder of Bian Chiang Bank established Bian Chiang Bank in Kuching, Sarawak, Malaysia and the founder names Wee Kheng Chiang. The bank's activities were mainly related to business financing and the issuance of bills of exchange. At the year 1979, Bian Chiang Bank renamed Bank of Commerce Bhd. At the year 1935, Ban Hin Lee Bank established in Penang, Malaysia. Original business of the bank focus was to serve local businesses in their trade and merchant activities. In the 1960s, it also branched into real estate and home financing. By the 1990s, the bank had become a modern and thriving financial institution, with its headquarters in Penang and operations throughout Malaysia and Singapore. At the year 1965, Bank Bumiputra was established and it line up with government initiatives to increase Bumiputra (Origin races living in the Malaysia area) participation in the Malaysian...

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