CIMB Bank Bhd is collaborating with Shanghai Pudong Development Bank Co Ltd (SPDB) to provide a comprehensive suite of solutions and services to fast-track the expansion of SPDB’s clients into the ASEAN region.
The collaboration was formalised after both parties signed a Letter of Intent (LOI) where the LOI will provide SPDB clients an edge through CIMB’s localised and cross-border strengths across several main areas such as trade settlement and finance, investment consulting services, debt capital markets, treasury and markets, and global payment business.
Representing CIMB at the signing of the LOI was its Group Chief Executive Officer for Wholesale Banking Chu Kok Wei and SPDB was represented by its Deputy President Kang Jie.
The cooperation between CIMB and SPDB takes place as China-ASEAN cooperation continues to grow and comes at an opportune moment, with Malaysia assuming the Chairmanship of ASEAN in 2025, providing impetus for many initiatives to unlock the value of ASEAN as a trade and investment destination and benefitting clients through CIMB’s footprint in the region.
