CIMB PH hits 6 million customers, with a record PHP 197 billion in transactions
Manila, Philippines (25 October 2022) – Leading digital banking services provider CIMB Bank PH sustains its growth, having ended Q3 with a total transaction value of PHP 197 billion, 39% higher versus the same period last year. The Bank also grew its customer base to 6 million customers – a million more than the previous period.
As the country’s pioneer in digital banking, CIMB continues to enjoy strong growth in its deposit offerings. By the end of the quarter, the Bank increased its deposit and cash in transactions this year to more than PHP 100 billion.
On the credit front, CIMB doubled its loan disbursements to over PHP 25 billion. Its innovative and first in kind credit product, REVI Credit, was a key driver in its loan portfolio growth, which extended a total credit limit of more than PHP 5 billion since in just under 9 months.
“Our continuous growth in the past four years is a testament to our unwavering commitment to drive the digitalization of the country towards financial inclusion and giving customer greater value and empowering more Filipinos to pursue their life goals” said CIMB Bank PH Chief Executive Officer Vijay Manoharan. “We are humbled by what we have achieved because we owe our success to our 6 million customers, who we are committed to help each of them and their families to solve their financial needs and help them realize their dreams”
As more players enter the digital banking space, CIMB continues to cement its position as one of the country’s leading digital banks through innovation and strategic partnerships. Just this August, CIMB launched its VISA Virtual Card powered by its REVI Credit offering. First of its kind, the virtual card enabled REVI Credit users to shop online without using a physical card in any Visa-accepted online merchants.
In 2021, CIMB has also inked partnerships with various industry leaders, like Lalamove Philippines and Pru Life UK, to make its financial services more accessible to Filipinos.
To date, it is also one of the most-awarded banks in the country, having received 82 awards from different local and international award-giving bodies.