Asian equities a main focus for CIMB
(25 April 2013 – Malaysia) CIMB has shifted its focus towards equities for growth as part of its plan to become a leading pan-Asian investment bank.
CIMB, Malaysia’s second-biggest bank by assets, is trying to make money in Asian equities despite weak regional markets that are seeing established global and Japanese players struggling to make money from equities.
Analysts said only the top three Asian banks in both equities trading and listing new companies are making significant profits from these activities.
CIMB believes its lower cost base means it could be sustainably profitable with a position in the top 10 in revenue terms in equities.
CIMB ranked 10th in equity capital fund-raising in Asia last year, excluding Japan and mainland China, and was the leader in Southeast Asia.
This was due mainly to Malaysia’s record year for listings. CIMB was involved in all of the biggest Malaysian deals.
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