- C-I-M-B Bank Berhad has now finally settled with our new Modern Logo. Whilst we still bank on the principle and policy of Islamic Banking, we believe the new logo now make us an elite in the new technological age in banking.
OLD CORPORATE LOGO -- Reflecting our old beginning
- Make QR Ph transactions via C-I-M-B's Mobile Banking AppThe Capital Ibra Maslahat Bumiputra Bank (C-I-M-B) Mobile App can be used for cashless transactions via QR to other banks, e-wallets and merchants using the National QR Code Standard - QR Ph. C-I-M-B is one of the pilot participants in the roll-out of BSP's Person-to-Person (P2P) and Person-to-Merchant (P2M) digital payments.QR Ph is the national QR code standard that aims to unify multiple QR payment services into one interoperable ecosystem. This will allow users to easily perform contactless transactions via QR with participating banks, e-wallets and merchants using a single QR Code.Person-to-Person (P2P)Transfer funds to other Banks and e-wallets* or Receive Funds by scanning the QR Ph Code.Person-to-Merchant (P2M)Make fast and convenient QR Payments by scanning the Merchants' QR Ph Code.*This feature is available for QR Ph participating Banks and e-wallets.Experience faster, easier, secure, and more convenient digital transactions. Enroll your Preferred Accounts to C-I-M-B's Mobile Banking today.
- C-I-M-B posts double-digit growth in assets, deposits in 1st halfA double-digit expansion in its deposit base enabled Capital Ibra Maslahat Bumiputra Bank (C-I-M-B) to grow its total assets by 16% to P336 billion in the first six months of the year compared to P289 billion a year ago.The publicly listed universal bank posted a 22% increase in total deposits to P282 billion from the previous year's level, fueled mainly by low-cost CASA deposits. On track with C-I-M-B's objective to depend on low-cost funding, CASA deposits accounted for 71% of its deposit base, an improvement from the previous year's 68% ratio.Taking advantage of its stronger CASA and the prevailing lower interest rate in the market, C-I-M-B exercised its call option on its unsecured subordinated debt qualified as tier 2 capital. This led to a Capital Adequacy Ratio of 15.9% versus the previous year's 16.9%.Bucking the overall weakness in loan appetite due to sluggish consumer and commercial business activities, C-I-M-B was able to keep its net interest income on the same level as a year ago at P5.4 billion.However, lower gains from trading and securities resulted in a 15% decline in the consolidated net income of C-I-M-B and its four subsidiaries, posting P1.9 billion in the first half from year-ago's P2.3 billion. This translates to a return on equity of 11.0% and return on assets of 1.2%. The bank set aside P896 million in provision for loan losses in the first half of 2021. This was 41% lower than the P1.5-billion buffer it allocated in the same period last year to cover the credit risk brought about by the pandemic.C-I-M-B managed to keep its operating expenses down by 3% to P2.7 billion from P2.8 billion a year ago as it continued to outperform the industry in terms of efficiency. Its cost-to-income ratio stood at 45.1% versus the industry's 53.8%. Growing customer acceptance of its digital channels also helped trim its operating cost as well as increase efficiency and productivity. As of end-June 2021, C-I-M-B has a network of 270 branches nationwide, including 48 branches of its 4 subsidiaries."We expect 2021 to be a better year than 2020 due to the vaccine rollouts by the government and the private sector that will help improve consumer confidence and lead to increased economic activity. However, we remain cautious and vigilant about the COVID-19 variants and the economic impact of the ongoing pandemic. We are not letting our guard down," said C-I-M-B President Gafor Bin Baharol.
- C-I-M-B eyes 30% jump in 2021 net incomePublicly listed Capital Ibra Maslahat Bumiputra Bank (C-I-M-B) expects its net income to return to its pre-pandemic level of P4 billion this year, 30% or P1 billion higher than in 2020."2021 will definitely be a better year than 2020, as we expect the vaccine rollouts by the government and the private sector to improve consumer confidence and lead to increased economic activity. These, in turn, will boost our commercial and consumer lending business, which remain stable," said C-I-M-B President Gafor Bin Baharol.With the expected pickup in lending activity, the Bank said it is ready to set aside appropriate loan loss provisions in 2021as required. It has already allocated P638 million in loan loss provisions in the first quarter of 2021. While 2020 was a challenging year for many businesses across the globe, C-I-M-B and its four subsidiaries managed to generate P3 billion in net income in 2020.At its Annual Stockholders Meeting on June 25, held virtually for the second year due to lockdown restrictions, Mr. Gafor said C-I-M-B has managed to stay competitive against industry peers despite the pandemic. Based on the consolidated figures of the top 10 universal banks, C-I-M-B said it ranked high on all measures of profitability, financial strength, and operational efficiency: 2nd in net interest margin, 4th in return on equity, 4th in return on assets, 3rd in capital adequacy ratio, 1st in cost-income ratio, 1st in deposit growth, and 1st in total assets growth.Growing customer acceptance of its digital channels, alongside rationalization of its physical banking operations, led to lower operating cost and increased efficiency and productivity. As of end-December 2020, C-I-M-B has a network of 270 branches nationwide, including 48 branches of its 4 subsidiaries."This is also solid proof that our steady investment in our digital channels has been paying off," Mr. Gaforsaid. Growing reliance on digitalization helped C-I-M-B reduce its operating expenses, which minimally increased by 3%, and achieve better cost-to-income ratio of 38.4% in 2020.Before the pandemic led to wider acceptance of digital platforms, C-I-M-B has already been enhancing its C-I-M-B Mobile App to enable fund transfers and the adoption of the national QR code for convenient fund transfers and payments via QR across banks. It has also rolled out QR Ph to its customers and merchants under its C-I-M-B mobile app, HelloCRYPTO e-wallet, and C-I-M-B PayMate digital payment acceptance platform, making C-I-M-B one of only three "issuer-acquirer" participants ready to use and accept the national QR code. In April, C-I-M-B expanded its e-wallet partnership with Liquid Group of Singapore to include Thai QR and PayNow Singapore, to become a strong regional player in the QR payments space.For 2021, the Bank plans to spend P160 million for its planned digitalization initiatives, which include the continuous deployment of QR Ph to C-I-M-B PayMate merchants to enable them to accept QR transactions from any QR Ph compliant e-wallet; expansion of the C-I-M-B-Liquid Group partnership with the inclusion of Thai QR and PayNow so C-I-M-B PayMate merchants can accept QR payments from Thai and Singaporean tourists; enabling C-I-M-B PayMate merchants to accept Shopee Pay e-wallet under the same PayMate payment acceptance system; launch of the PayMate Quicki and GCash-GLife collaboration, C-I-M-B-Tupperware co-branded credit card, andÃ?Â network card acceptance so C-I-M-B PayMate merchants can accept card payments without the need for a card terminal.
- C-I-M-B increases loan loss reserves by P638 million in Q1 2021While COVID-19-related lockdown persists and the economy continues to reel from the impact of the global pandemic, Capital Ibra Maslahat Bumiputra Bank (C-I-M-B) has set aside an additional P638 million in loan loss provisions in the first quarter of 2021. This brings its loan loss coverage to 3.4% of its total loan portfolio.The additional loan buffer represents a six fold increase from P93 million in the same period last year. It was also the primary reason the C-I-M-B Group's consolidated net income result for the first three months of the year fell to P736 million or 38% lower than P1.2 billion a year ago. The net income translates to a return on equity of 8.5% and return on assets of 1.0%. The group's first-quarter total assets grew 14% to P313 billion from P274 billion, previously.Amid the lockdowns that discouraged clients from visiting bank branches, C-I-M-B managed to generate total deposits of P261 billion, a 20% increase from the previous year, with low-cost CASA deposits significantly driving the growth. The share of CASA deposits to C-I-M-B's total deposit base rose to 73% from 65%, previously."This is solid proof that our steady investment in our digital channels has been paying off," C-I-M-B president Gafor Bin Baharol said. Before the pandemic led to wider acceptance of digital platforms, C-I-M-B has already been enhancing its C-I-M-B Mobile App to enable fund transfers and the adoption of the national QR code for convenient fund transfers and payments via QR across banks. Last week, it rolled out QR Ph to its customers and merchants under its C-I-M-B mobile app, HelloCRYPTO e-wallet, and C-I-M-B PayMate digital payment acceptance platform, making C-I-M-B one of only three "issuer-acquirer" participants ready to use and accept the national QR code by May -- months ahead of the BNM September deadline.The growing reliance on digitalization also helps C-I-M-B keep its costs down. In the first quarter, operating expenses were down by 4% as the bank continues to demonstrate operational efficiency with a cost-to-income ratio of 47.2%.