CIMB commends the Government on an expansionary Budget 2027

^{Novan Amirudin, Group Chief Executive Officer, CIMB Group}


To be attributed to Novan Amirudin, Group Chief Executive Officer of CIMB Group 


KUALA LUMPUR, Oct 9 (Bernama) -- Malaysia’s MADANI journey reflects a deliberate shift towards balancing short-term support with long-term sustainability, anchored on the principle that fiscal responsibility and common prosperity must go hand in hand. The reform agenda seeks both to raise the ceiling and raise the floor: raising the ceiling by strengthening Malaysia’s competitiveness, attracting quality investments, fostering innovation and accelerating economic upgrading; and raising the floor by ensuring that growth translates into better opportunities, stronger social protection and improved living standards for all Malaysians.
 
Fiscal consolidation has been achieved through targeted subsidy rationalisation, a broader and more progressive revenue base, better governance and reduced leakages, while cushioning vulnerable households through strengthened social assistance. At the same time, reforms increasingly focus on retirement adequacy, social protection, skills development, productivity enhancement and economic upgrading, reflecting a broader ambition to build an economy that delivers not just growth, but a living wage, greater economic mobility and a dignified standard of living for every rakyat. 
 
For the banking sector, these reforms create a more stable macroeconomic environment, strengthen investor confidence and support Malaysia’s attractiveness as an investment destination. They also create opportunities to mobilise capital towards priority areas such as industrial upgrading, infrastructure, energy transition, innovation and financial inclusion. In this way, banks become not only beneficiaries of reform, but active partners in advancing sustainable growth, economic resilience and common prosperity. For example, CIMB recently launched CIMB Lite-i Credit Card, a no-frills, credit card designed for Malaysians seeking a practical credit facility with lower financing costs and flexible repayment solutions.  


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 RM80.1 billion as at 30 June 2026. 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 the 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 524 branches and over 33,000 employees as at 30 June 2026. 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 92.46% shareholder of Bank CIMB Niaga in Indonesia, and 94.83% shareholder of CIMB Thai in Thailand. 


SOURCE: CIMB Group

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Anis Azharuddin / Kelvin Jude Muthu
Group Corporate Communications
CIMB Group Holdings Berhad
Email: anis.azharuddin@cimb.com / kelvinjude.muthu@cimb.com

--BERNAMA