CIMB Bank PH, a digital bank, recorded 2.5 million loan customers in the first quarter of 2023. It now has a total of close to 7 million total customers, driven by the growth of deposit and lending portfolios.
CIMB Bank PH’s diverse lending portfolio allowed it to offer loans ranging from P2,000 to as high as P1 million, which boost its Q1 performance. The Bank doubled its loan customers in the last 12 months to 2.5 million by the end of March 2023.
According to CIMB Bank PH, its transaction value reached P120 billion in the past quarter. It also achieved its highest monthly active users in March 2023 increasing more than 50% in the last 12 months.
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“As pioneers of digital-only banking in the country, our strong performance inspires us to continue bringing our clients the banking experience that they deserve by providing true value, convenience, and a highly secured digital banking experience that is easy to access anytime and anywhere,” said Vijay Manoharan, CEO, CIMB Bank.
Its lending portfolio includes cash loans, revolving credit lines, and buy-now-pay-later (BNPL) products.
“We expect to double our loans balance sheet by the end of 2023 from the previous year while keeping our non-performing loans (NPLs) at very healthy levels,” Manoharan said.
CIMB Bank Philippines is also part of the CIMB Group, one of ASEAN’s leading banks present in over 16 global markets.