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Malaysia's CIMB Group seals alliance with Bank of Tokyo-Mitsubishi

Malaysia's CIMB Group seals alliance with Bank of Tokyo-Mitsubishi

Malaysia's CIMB Group and the Bank of Tokyo-Mitsubishi UFJ Ltd. said Wednesday they have agreed to an alliance to sell financial services in Malaysia.
"The strategic alliance covers broad collaboration between the two banks in various business areas, including investment banking (both conventional and Islamic) and cash management services," the two lenders said in a statement.
Bank of Tokyo-Mitsubishi UFJ is the second Japanese financial group to tap Malaysia's financial sector, where lenders such as Citigroup Inc. already have strong presence. Malaysia is gradually liberalizing its financial sector to allow foreign players greater access.
Bank of Tokyo-Mitsubishi UFJ is the commercial banking arm of Mitsubishi UFJ Financial Group Inc. _ the world's largest banking group with total assets of US$1.68 trillion (


Updated : 2020-12-01 20:27 GMT+08:00