CIMB Bank is a Malaysian bank with branches in Malaysia as well as in many other countries. Its name is the acronym for Commerce International Merchant Bankers. CIMB operates as a universal bank involved in various banking activities as commercial bank and investment bank.
CIMB is the result of many bank mergers. Its oldest entity traces its roots to 1924, when Bian Chiang Bank was founded in Kuching by Wee Kheng Chiang of the same Wee family that were the founding members of United Overseas Bank (UOB) in Singapore in 1971.
In 1935, the Towkay Yeap Chor Ee established Ban Hin Lee Bank in Penang. Later becoming known as BHL Bank, it was listed on the Kuala Lumpur Stock Exchange in 1991. In 1948, Bank Lippo was established in Indonesia while in 1955, Bank Niaga was also established in Indonesia. In 1965, Southern Banking Ltd was also established in Penang, the same year that Bank Bumiputra Malaysia Bhd was founded. In 1972, United Asian Bank Bhd was established in Kuala Lumpur while in 1974, Pertanian Baring Sanwa Multinational Bhd was founded. Pertanian Baring Sanwa Multinational became known as Commerce International Merchant Bankers (CIMB) in 1986.
Seperately in 1991, Bank of Commerce acquired United Asian bank, and the new entity became known as Commerce-Asset Holdings Bhd. It changed its name again in 1999, when it merged with Bank Bumiputra, becoming Bumiputra-Commerce Bank. Meanwhile, government-initiated bank consolidation saw the acquisition of BHL Bank by Southern Bank, which also acquired United Merchant Finance, Perdana Finance and Cempaka Finance.
In 2005, CIMB acquired Bumiputra-Commerce Group and the following year, the Southern Bank Group, and from 2006, became the new CIMB Group which has branches all over Malaysia, with many in Penang.
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About this website
Dear visitor, thank you so much for reading this page. My name is Timothy Tye and my hobby is to find out about places, write about them and share the information with you on this website. I have been writing this site since 5 January 2003. Originally (from 2003 until 2009, the site was called AsiaExplorers. I changed the name to Penang Travel Tips in 2009, even though I describe more than just Penang but everywhere I go (I often need to tell people that "Penang Travel Tips" is not just information about Penang, but information written in Penang), especially places in Malaysia and Singapore, and in all the years since 2003, I have described over 20,000 places.
While I try my best to provide you information as accurate as I can get it to be, I do apologize for any errors and for outdated information which I am unaware. Nevertheless, I hope that what I have described here will be useful to you.