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CIMB Bank PH eyes to extend more borrowings this year

CIMB Bank Philippines is eyeing to grow its loan portfolio by at least three times this year as consumers seek additional sources of funding.

 

Vijay Manoharan, the digital bank’s CEO, told BusinessMirror that CIMB Bank PH is banking on the tightening of lending standards among conventional financial institutions to beef up its loan portfolio.

 

“If you look at industry statistics, most banks are tightening and reducing the lending facilities given the pandemic,” he said, noting that there is an “unfulfilled” demand.

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