CIMB Bank Philippines said it continues to operate as usual after news reports that its parent company is exploring a sale of the Philippine business. The bank also said its customers’ funds remain safe and secure.
The bank issued a statement on its official Facebook page titled “CIMB Bank Philippines Clarifies Reports on Ownership and Business Operations.”
“CIMB Bank Philippines is aware of recent news reports and speculation regarding a potential sale involving the Bank,” the statement said. It added: “CIMB Bank PH does not respond to unsubstantiated news reports.”
The statement then addressed the bank’s operations. “CIMB Bank PH continues to operate as usual and remains focused on serving its customers and delivering safe, secure, and innovative banking solutions. Its customers’ funds remain safe and secure,” the bank said.
The statement does not say whether a sale is being considered. It also does not name Bloomberg, any prospective buyer, or a timeline.
What was reported earlier
Bloomberg reported on October 6 that CIMB Group Holdings Bhd. is exploring a sale of its Philippine business, as Tech Pilipinas covered earlier. The report cited people with knowledge of the matter who asked not to be identified because the process is private.
According to those people, the group is working with a financial adviser and has contacted prospective buyers to gauge interest. A deal could value the Philippine business at as much as US$200 million. The people said deliberations are ongoing and CIMB may still decide not to sell. Bloomberg reported that the review is part of an effort to streamline operations and focus on bigger markets for growth.
The report did not name any buyers or give a timeline for a decision. It also did not say how a sale would affect the bank’s Philippine customers or its operations under the Bangko Sentral ng Pilipinas (BSP).
The bank in the Philippines
CIMB Bank Philippines is an all-digital, mobile-first bank. It entered the country in December 2018 and formally launched in Manila on January 29, 2019. It operates under a commercial banking license from the BSP, not a digital banking license.
In December 2024, the bank said it would not apply for a digital bank license and would build its digital services under its existing commercial license. It reported nearly nine million customers at the end of November 2024. Its website listed 10 million customers as of September 2025.
CIMB Group has not publicly confirmed the review reported by Bloomberg. This article will be updated if CIMB Bank Philippines or the BSP issues further statements.
