Latest news with #Forward30
New Straits Times
5 days ago
- Business
- New Straits Times
CIMB names former SC top executive Syed Zaid Albar as new group chairman
KUALA LUMPUR: CIMB Group Holdings Bhd has appointed former head of the Securities Commission Datuk Syed Zaid Albar as the group chairman effective from July 20. He will succeed Tan Sri Mohd Nasir Ahmad, who will retire from the board on July 19 after serving CIMB for 10 years since 2015, including as group chairman since 2018. In line with the transition, Datuk Syed Zaid will be appointed as an independent non-executive director effective from June 18. Mohd Nasir Ahmad said Syed Zaid's leadership and extensive corporate experience across legal industry, financial and regulatory landscape will bring valuable perspective in guiding CIMB through its next chapter of growth and transformation. "We are confident that his stewardship will provide strong guidance in driving the success of the Group's Forward30 strategic plan," he said in a statement. Syed Zaid is a lawyer with four decades of experience across a broad range of practice areas, with a strong focus on financial services and corporate advisory. As one of the founding partners of Albar & Partners, he has established himself in Malaysia's capital market and legal landscape, particularly in debt and equity finance, including Islamic finance. His significant contributions have earned him multiple recognitions for his involvement in notable capital market transactions. Syed Zaid stepped away from legal practice in 2018 to assume the role of executive chairman of the SC, a position he held until mid-2022. During his tenure at the SC, Syed Zaid played a key role in strengthening the governance, regulatory oversight and the development of Malaysia's capital markets, both domestically and internationally. He rejoined Albar & Partners in early 2023 as a senior partner, taking on an advisory role and professional development. Syed Zaid previously served the boards of numerous public listed companies, including Yinson Holdings Bhd, Cycle & Carriage Bintang Bhd, Malaysian Pacific Industries Bhd and Malaysia Building Society Bhd. CIMB group chief executive officer Datuk Novan Amirudin said it looks forward to Syed Zaid's guidance as it executes Forward30 strategic plan over the next six years, which is anchored on its purpose of advancing customers and society. "Our goal is to be the top-of-mind Asean bank, reimagining banking by embedding ourselves into our customers lives and keeping our customers at the heart of everything we do. "I would like to extend our deepest appreciation to Mohd Nasir for his exemplary leadership and invaluable contributions over the past decade.
Business Times
04-06-2025
- Business
- Business Times
CIMB set to appoint former Securities Commission chief Syed Zaid as chairman: sources
[KUALA LUMPUR] CIMB Group Holdings is preparing for a leadership transition, with former Securities Commission Malaysia chairman Syed Zaid Albar expected to take over as chairman of the board, according to a report by Bloomberg. Citing sources, the report said the appointment, which is pending regulatory approval, comes as incumbent chairman Mohd Nasir Ahmad prepares to step down after nearly a decade on the board and six years as chairman. Syed Zaid, who led the Securities Commission from 2018 to 2022, is also a founding partner of law firm Albar & Partners. His return to the financial sector comes at a time when CIMB is navigating a more challenging macroeconomic environment across South-east Asia, where it has significant operations in Indonesia, Thailand, Singapore, and Cambodia. The anticipated change in chairmanship follows the group's steady financial performance in the first quarter of 2025. CIMB posted a net profit of RM2 billion, a 1.9 per cent increase from nearly RM2 billion a year earlier, supported by stronger net interest income (NII). A NEWSLETTER FOR YOU Friday, 8.30 am Asean Business Business insights centering on South-east Asia's fast-growing economies. Sign Up Sign Up However, revenue fell 2.3 per cent year-on-year to RM5.5 billion, largely due to continued pressure on net interest margins (NIM), though asset growth helped cushion the impact. NII rose slightly to RM3.82 billion on both a quarterly and annual basis. Non-interest income (NOII) climbed 11.1 per cent quarter-on-quarter, supported by a nearly 19 per cent rise in treasury client sales and a 12.6 per cent increase in fee and commission income. In a filing with Bursa Malaysia, CIMB reaffirmed its commitment to its Forward30 strategic plan that was launched in March. This six-year roadmap focuses on strengthening customer experience, improving operational efficiency, and driving sustainability-led initiatives. The group also recently restructured its leadership in Thailand and Cambodia, while identifying those two markets, along with Singapore, as growth engines for regional expansion. Being South-east Asia's fifth-largest lender by assets, CIMB operates 592 retail branches and employs more than 33,000 staff across 10 markets as at end-2024, serving around 28 million customers. Analysts said CIMB's latest results were broadly in line with expectations, though margin compression remains a concern. Kenanga Research's Clement Chua noted that CIMB, alongside AmBank, was one of the few banks in Malaysia to post a sequential uptick in NIMs. However, gains were offset by declining asset yields and elevated funding costs in Indonesia. While the group maintained its full-year NIM guidance of a deterioration of up to five basis points, analysts said it is now more likely to trend toward the lower end of that range, added Chua. Maybank Investment Bank analyst Desmond Ch'ng said CIMB's wide footprint in South-east Asia exposes it to greater regional volatility compared to more domestically focused peers. 'Any slowdown in Malaysia would weigh on earnings, but the group is also vulnerable to monetary and currency trends in Indonesia and Thailand,' he said, noting that further rate cuts in Indonesia or a weaker rupiah could erode margins and reduce the translated earnings from CIMB Niaga. Despite these challenges, RHB Research analysts David Chong and Nabil Thoo said CIMB is entering this phase of uncertainty with a strong liquidity position, better asset quality, and flexibility to manage funding pressures. They pointed to CIMB's ability to reduce campaign deposit rates in Malaysia by 10 to 20 basis points in May and its strategy to wind down costlier wholesale funding. 'Direct exposure to US tariffs is limited, with less than 3 per cent of CIMB's loans linked to trade-related sectors and just 0.4 per cent of customers deriving over 20 per cent of their revenue from the US market,' they said in a note on Monday (Jun 3).
Business Upturn
23-05-2025
- Business
- Business Upturn
CIMB Bank Taps ACI Worldwide to Advance Payment Transformation
Singapore & Omaha, Neb., United States: ACI Worldwide (NASDAQ: ACIW), an original innovator in global payments technology, today announced that CIMB Bank, one of ASEAN's leading banking groups and Malaysia's second largest financial services provider, has chosen ACI's payment solution to converge all account-to-account transactions—real-time, ACH, RTGS and cross-border—onto a single future-proof payments platform. As the industry pushes toward ISO 20022 standardization, this new ISO20022-native compliant platform—which serves as the foundation for CIMB Group's regional payments platform, starting from its headquarters in Malaysia—empowers the bank with richer data exchange, straight through processing and insights that enhance interoperability, security and compliance. With the new unified solution, CIMB Bank will reduce the complexity of managing siloed legacy systems to achieve greater efficiency and agility while minimizing cost and risk. This press release features multimedia. View the full release here: From left to right – Leslie Choo, Senior Vice President, Managing Director – APAC, ACI Worldwide | Ros Aziah, Group Chief Technology Officer, CIMB Bank 'CIMB's payment transformation is a bold re-architecture of our core payments infrastructure to unify all payment flows. This enterprise-wide initiative is a cornerstone of our Forward30 Strategy, built to future-proof operations, accelerate digital convergence, and deliver seamless, secure, and intelligent payment experiences for both consumers and businesses. Aligned with ISO 20022 and powered by our partnership with ACI Worldwide, CIMB is positioning itself at the forefront of next-generation banking,' said Ros Aziah, Group Chief Technology Officer, CIMB Bank. CIMB Bank and ACI Worldwide were recently recognized at The Asian Banker (TAB) Global Financial Technology Innovation Awards 2025 in the 'Best Corporate Banking and Payment Technology Initiative in Asia Pacific' category. In its evaluation, TAB highlighted the technological differentiation and customer-centric approach demonstrated by CIMB Bank and ACI Worldwide in this project, which not only enhances security, scalability, and performance but also future proofs the bank to adapt quickly to rising customer expectations and evolving regulatory mandates. 'ACI is proud to be the strategic partner behind CIMB's full-scale payment transformation—a complex, end-to-end overhaul that unified CIMB's payment operations across real-time, high-value, low-value, and cross-border transactions onto a modern, enterprise-wide ISO20022 platform — and we are honored that our successful partnership has been recognized with a prestigious industry award. This partnership is a testament to how forward-thinking banks like CIMB can lead in a digital-first economy in Malaysia and across ASEAN,' said Leslie Choo, Senior Vice President, Managing Director – APAC, ACI Worldwide. With 50 years of experience, ACI Worldwide has a strong track record of powering real-time schemes around the world. ACI currently powers 26 domestic and pan-regional real-time schemes across six continents, including 11 central infrastructures. Malaysia's Real-time Retail Payments Platform (RPP) was introduced by the national payments network and central infrastructure provider PayNet in collaboration with ACI. Globally, ACI serves all 10 of the world's largest financial institutions by asset value and provides solutions that move trillions of dollars through more than one billion transactions daily. About ACI Worldwide ACI Worldwide, an original innovator in global payments technology, delivers transformative software solutions that power intelligent payments orchestration in real time so banks, billers, and merchants can drive growth, while continuously modernizing their payment infrastructures, simply and securely. With 50 years of trusted payments expertise, we combine our global footprint with a local presence to offer enhanced payment experiences to stay ahead of constantly changing payment challenges and opportunities. About CIMB CIMB is one of ASEAN's leading banking groups and Malaysia's second largest financial services provider, by assets. Listed on Bursa Malaysia via CIMB Group Holdings Berhad, it had a market capitalisation of approximately RM75.2 billion as at 31 March 2025. It offers consumer banking, commercial banking, wholesale banking, transaction banking, Islamic banking and asset management products and services. Headquartered in Kuala Lumpur, the Group is present across ASEAN in Malaysia, Indonesia, Singapore, Thailand, Cambodia, Vietnam and Philippines. Beyond ASEAN, the Group has market presence in China, Hong Kong and UK. CIMB has one of the most extensive retail branch networks in ASEAN with 592 branches and over 33,000 employees as at 31 March 2025. CIMB's investment banking arm is one of the largest Asia Pacific-based investment banks, which together with its award-winning treasury & markets and corporate banking units comprise the Group's leading wholesale banking franchise. CIMB is also the 92.5% shareholder of Bank CIMB Niaga in Indonesia, and 94.8% shareholder of CIMB Thai in Thailand. © Copyright ACI Worldwide, Inc. 2025 ACI, ACI Worldwide, ACI Payments, Inc., ACI Pay, Speedpay and all ACI product/solution names are trademarks or registered trademarks of ACI Worldwide, Inc., or one of its subsidiaries, in the United States, other countries or both. Other parties' trademarks referenced are the property of their respective owners. View source version on Disclaimer: The above press release comes to you under an arrangement with Business Wire. Business Upturn takes no editorial responsibility for the same.
Associated Press
23-05-2025
- Business
- Associated Press
CIMB Bank Taps ACI Worldwide to Advance Payment Transformation
OMAHA, Neb. & SINGAPORE--(BUSINESS WIRE)--May 22, 2025-- ACI Worldwide (NASDAQ: ACIW), an original innovator in global payments technology, today announced that CIMB Bank, one of ASEAN's leading banking groups and Malaysia's second largest financial services provider, has chosen ACI's payment solution to converge all account-to-account transactions—real-time, ACH, RTGS and cross-border—onto a single future-proof payments platform. As the industry pushes toward ISO 20022 standardization, this new ISO20022-native compliant platform—which serves as the foundation for CIMB Group's regional payments platform, starting from its headquarters in Malaysia—empowers the bank with richer data exchange, straight through processing and insights that enhance interoperability, security and compliance. With the new unified solution, CIMB Bank will reduce the complexity of managing siloed legacy systems to achieve greater efficiency and agility while minimizing cost and risk. This press release features multimedia. View the full release here: From left to right - Leslie Choo, Senior Vice President, Managing Director – APAC, ACI Worldwide | Ros Aziah, Group Chief Technology Officer, CIMB Bank 'CIMB's payment transformation is a bold re-architecture of our core payments infrastructure to unify all payment flows. This enterprise-wide initiative is a cornerstone of our Forward30 Strategy, built to future-proof operations, accelerate digital convergence, and deliver seamless, secure, and intelligent payment experiences for both consumers and businesses. Aligned with ISO 20022 and powered by our partnership with ACI Worldwide, CIMB is positioning itself at the forefront of next-generation banking,' said Ros Aziah, Group Chief Technology Officer, CIMB Bank. CIMB Bank and ACI Worldwide were recently recognized at The Asian Banker (TAB) Global Financial Technology Innovation Awards 2025 in the 'Best Corporate Banking and Payment Technology Initiative in Asia Pacific' category. In its evaluation, TAB highlighted the technological differentiation and customer-centric approach demonstrated by CIMB Bank and ACI Worldwide in this project, which not only enhances security, scalability, and performance but also future proofs the bank to adapt quickly to rising customer expectations and evolving regulatory mandates. 'ACI is proud to be the strategic partner behind CIMB's full-scale payment transformation—a complex, end-to-end overhaul that unified CIMB's payment operations across real-time, high-value, low-value, and cross-border transactions onto a modern, enterprise-wide ISO20022 platform — and we are honored that our successful partnership has been recognized with a prestigious industry award. This partnership is a testament to how forward-thinking banks like CIMB can lead in a digital-first economy in Malaysia and across ASEAN,' said Leslie Choo, Senior Vice President, Managing Director – APAC, ACI Worldwide. With 50 years of experience, ACI Worldwide has a strong track record of powering real-time schemes around the world. ACI currently powers 26 domestic and pan-regional real-time schemes across six continents, including 11 central infrastructures. Malaysia's Real-time Retail Payments Platform (RPP) was introduced by the national payments network and central infrastructure provider PayNet in collaboration with ACI. Globally, ACI serves all 10 of the world's largest financial institutions by asset value and provides solutions that move trillions of dollars through more than one billion transactions daily. About ACI Worldwide ACI Worldwide, an original innovator in global payments technology, delivers transformative software solutions that power intelligent payments orchestration in real time so banks, billers, and merchants can drive growth, while continuously modernizing their payment infrastructures, simply and securely. With 50 years of trusted payments expertise, we combine our global footprint with a local presence to offer enhanced payment experiences to stay ahead of constantly changing payment challenges and opportunities. About CIMB CIMB is one of ASEAN's leading banking groups and Malaysia's second largest financial services provider, by assets. Listed on Bursa Malaysia via CIMB Group Holdings Berhad, it had a market capitalisation of approximately RM75.2 billion as at 31 March 2025. It offers consumer banking, commercial banking, wholesale banking, transaction banking, Islamic banking and asset management products and services. Headquartered in Kuala Lumpur, the Group is present across ASEAN in Malaysia, Indonesia, Singapore, Thailand, Cambodia, Vietnam and Philippines. Beyond ASEAN, the Group has market presence in China, Hong Kong and UK. CIMB has one of the most extensive retail branch networks in ASEAN with 592 branches and over 33,000 employees as at 31 March 2025. CIMB's investment banking arm is one of the largest Asia Pacific-based investment banks, which together with its award-winning treasury & markets and corporate banking units comprise the Group's leading wholesale banking franchise. CIMB is also the 92.5% shareholder of Bank CIMB Niaga in Indonesia, and 94.8% shareholder of CIMB Thai in Thailand. © Copyright ACI Worldwide, Inc. 2025 ACI, ACI Worldwide, ACI Payments, Inc., ACI Pay, Speedpay and all ACI product/solution names are trademarks or registered trademarks of ACI Worldwide, Inc., or one of its subsidiaries, in the United States, other countries or both. Other parties' trademarks referenced are the property of their respective owners. View source version on CONTACT: Media ContactsACI Worldwide Nick Karoglou | Head of Communications and Corporate Affairs |[email protected] Lyn Kwek | Communications and Corporate Affairs Director |[email protected] Anis Azharuddin / Kelvin Jude Muthu Group Corporate Communications CIMB Group Holdings Berhad Email:[email protected]/[email protected] KEYWORD: UNITED STATES SINGAPORE SOUTHEAST ASIA NORTH AMERICA MALAYSIA ASIA PACIFIC NEBRASKA INDUSTRY KEYWORD: PROFESSIONAL SERVICES PAYMENTS TECHNOLOGY SOFTWARE FINANCE FINTECH BANKING SOURCE: ACI Worldwide Copyright Business Wire 2025. PUB: 05/22/2025 08:00 PM/DISC: 05/22/2025 07:59 PM
Yahoo
23-05-2025
- Business
- Yahoo
CIMB Bank Taps ACI Worldwide to Advance Payment Transformation
ACI is enabling CIMB's Forward30 strategic plan to boost resilience and customer-centric innovation OMAHA, Neb. & SINGAPORE, May 23, 2025--(BUSINESS WIRE)--ACI Worldwide (NASDAQ: ACIW), an original innovator in global payments technology, today announced that CIMB Bank, one of ASEAN's leading banking groups and Malaysia's second largest financial services provider, has chosen ACI's payment solution to converge all account-to-account transactions—real-time, ACH, RTGS and cross-border—onto a single future-proof payments platform. As the industry pushes toward ISO 20022 standardization, this new ISO20022-native compliant platform—which serves as the foundation for CIMB Group's regional payments platform, starting from its headquarters in Malaysia—empowers the bank with richer data exchange, straight through processing and insights that enhance interoperability, security and compliance. With the new unified solution, CIMB Bank will reduce the complexity of managing siloed legacy systems to achieve greater efficiency and agility while minimizing cost and risk. "CIMB's payment transformation is a bold re-architecture of our core payments infrastructure to unify all payment flows. This enterprise-wide initiative is a cornerstone of our Forward30 Strategy, built to future-proof operations, accelerate digital convergence, and deliver seamless, secure, and intelligent payment experiences for both consumers and businesses. Aligned with ISO 20022 and powered by our partnership with ACI Worldwide, CIMB is positioning itself at the forefront of next-generation banking," said Ros Aziah, Group Chief Technology Officer, CIMB Bank. CIMB Bank and ACI Worldwide were recently recognized at The Asian Banker (TAB) Global Financial Technology Innovation Awards 2025 in the "Best Corporate Banking and Payment Technology Initiative in Asia Pacific" category. In its evaluation, TAB highlighted the technological differentiation and customer-centric approach demonstrated by CIMB Bank and ACI Worldwide in this project, which not only enhances security, scalability, and performance but also future proofs the bank to adapt quickly to rising customer expectations and evolving regulatory mandates. "ACI is proud to be the strategic partner behind CIMB's full-scale payment transformation—a complex, end-to-end overhaul that unified CIMB's payment operations across real-time, high-value, low-value, and cross-border transactions onto a modern, enterprise-wide ISO20022 platform — and we are honored that our successful partnership has been recognized with a prestigious industry award. This partnership is a testament to how forward-thinking banks like CIMB can lead in a digital-first economy in Malaysia and across ASEAN," said Leslie Choo, Senior Vice President, Managing Director – APAC, ACI Worldwide. With 50 years of experience, ACI Worldwide has a strong track record of powering real-time schemes around the world. ACI currently powers 26 domestic and pan-regional real-time schemes across six continents, including 11 central infrastructures. Malaysia's Real-time Retail Payments Platform (RPP) was introduced by the national payments network and central infrastructure provider PayNet in collaboration with ACI. Globally, ACI serves all 10 of the world's largest financial institutions by asset value and provides solutions that move trillions of dollars through more than one billion transactions daily. About ACI Worldwide ACI Worldwide, an original innovator in global payments technology, delivers transformative software solutions that power intelligent payments orchestration in real time so banks, billers, and merchants can drive growth, while continuously modernizing their payment infrastructures, simply and securely. With 50 years of trusted payments expertise, we combine our global footprint with a local presence to offer enhanced payment experiences to stay ahead of constantly changing payment challenges and opportunities. About CIMB CIMB is one of ASEAN's leading banking groups and Malaysia's second largest financial services provider, by assets. Listed on Bursa Malaysia via CIMB Group Holdings Berhad, it had a market capitalisation of approximately RM75.2 billion as at 31 March 2025. It offers consumer banking, commercial banking, wholesale banking, transaction banking, Islamic banking and asset management products and services. Headquartered in Kuala Lumpur, the Group is present across ASEAN in Malaysia, Indonesia, Singapore, Thailand, Cambodia, Vietnam and Philippines. Beyond ASEAN, the Group has market presence in China, Hong Kong and UK. CIMB has one of the most extensive retail branch networks in ASEAN with 592 branches and over 33,000 employees as at 31 March 2025. CIMB's investment banking arm is one of the largest Asia Pacific-based investment banks, which together with its award-winning treasury & markets and corporate banking units comprise the Group's leading wholesale banking franchise. CIMB is also the 92.5% shareholder of Bank CIMB Niaga in Indonesia, and 94.8% shareholder of CIMB Thai in Thailand. © Copyright ACI Worldwide, Inc. 2025 ACI, ACI Worldwide, ACI Payments, Inc., ACI Pay, Speedpay and all ACI product/solution names are trademarks or registered trademarks of ACI Worldwide, Inc., or one of its subsidiaries, in the United States, other countries or both. Other parties' trademarks referenced are the property of their respective owners. View source version on Contacts Media Contacts ACI Worldwide Nick Karoglou | Head of Communications and Corporate Affairs | Lyn Kwek | Communications and Corporate Affairs Director | CIMB Anis Azharuddin / Kelvin Jude MuthuGroup Corporate CommunicationsCIMB Group Holdings BerhadEmail: / Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
