CIMB Group Holdings Bhd has welcomed the government’s expansionary Budget 2027, saying its emphasis on fiscal responsibility, economic competitiveness and social protection will strengthen Malaysia’s economic resilience while creating opportunities for the banking sector to support sustainable growth.
CIMB Group Chief Executive Officer Novan Amirudin said the budget, tabled by Prime Minister and Finance Minister Datuk Seri Anwar Ibrahim on Friday (Oct 9), reflects the government’s continued efforts to balance immediate economic needs with longer-term fiscal sustainability under the Malaysia MADANI framework.
He said the government’s reform agenda is focused on strengthening Malaysia’s competitiveness, attracting quality investments, encouraging innovation and accelerating the transition towards higher-value economic activities.
At the same time, the reforms aim to ensure that economic growth translates into better employment opportunities, stronger social protection and improved living standards for Malaysians.
Novan said the government’s approach to raising both the economic ceiling and floor reflects its ambition to achieve sustainable growth while ensuring broader participation in the country’s economic progress.
CIMB noted that fiscal consolidation efforts, including targeted subsidy rationalisation, a broader and more progressive revenue base, improved governance and reduced financial leakages, would contribute to a more stable macroeconomic environment.
These measures, alongside stronger social assistance programmes for vulnerable households, are expected to support Malaysia’s fiscal sustainability without undermining household welfare.
Novan said the government’s reform agenda increasingly focuses on retirement adequacy, social protection, skills development and productivity improvements.
He added that these priorities reflect a broader ambition to create an economy that delivers not only stronger growth but also living wages, greater economic mobility and improved living standards.
For the banking industry, he said a more stable economic environment and stronger investor confidence would reinforce Malaysia’s attractiveness as an investment destination.
Novan said Budget 2027’s policy direction would create opportunities for financial institutions to mobilise capital into strategic sectors that support Malaysia’s long-term economic transformation.
These include industrial upgrading, infrastructure development, energy transition, technological innovation and financial inclusion.
He said banks have an important role in supporting businesses seeking to expand their operations, adopt new technologies and participate in emerging industries.
Financial institutions can also help channel investment into projects that improve productivity, strengthen economic resilience and generate sustainable economic returns.
CIMB believes the banking sector should therefore play an active role in advancing the government’s economic priorities rather than merely benefiting from a stronger operating environment.
Financial Inclusion Remains Key Priority
Beyond financing major investments and industrial development, CIMB also emphasised the importance of expanding access to financial services for Malaysians.
Novan highlighted the group’s recent introduction of the CIMB Lite-i Credit Card as an example of its efforts to provide more accessible financial solutions.
The no-frills credit card is designed for Malaysians seeking a practical credit facility with lower financing costs and flexible repayment options.
The initiative aligns with the group’s focus on financial inclusion and supporting households as they manage their financial commitments.
Overall, CIMB said Budget 2027 provides a framework for strengthening Malaysia’s economic competitiveness while ensuring that growth benefits a wider segment of society.
The banking group reiterated that financial institutions would be important partners in advancing the government’s reform agenda by mobilising capital, supporting businesses and improving access to financing.
CIMB maintained that continued fiscal discipline, institutional reforms and targeted investments would help build a more resilient economy while promoting sustainable growth and shared prosperity.
