CIMB Group Holdings Berhad (“CIMB Group” or “the Group”) has launched its Forward30 strategic plan, a new six-year roadmap designed to accelerate growth and future proof the organisation while reinforcing its core purpose of advancing customers and society.
Following the successful completion of Forward23+ strategic plan, in which the Group improved return on equity from 2.1% in 2020 to 11.2% and delivered annualised total shareholders return of 34.6% from 2020 to 2024, CIMB is well positioned for its next phase of growth.
The realisation of F23+ was mainly attributed to the successful reshaping of portfolios in the respective markets, hard wiring of a new corporate culture, an unwavering focus on improving asset quality, and improving efficiencies and resiliencies.
Novan Amirudin, Group Chief Executive Officer, CIMB Group said, “ Predicated on global megatrends such as geopolitical shifts, cyclical economic policies, as well as the rapid advancement of Gen AI, Forward30 ensures that the Group remains nimble in navigating an increasingly complex operating environment while being focused on accelerating growth in areas we are winning, as well as keeping our customers at the heart of everything we do.”
The Forward30 strategic plan will be anchored on four strategic growth levers:
- Capital: optimise and reallocate the Group’s capital to strengthen overall portfolio
- Cash: build a leading deposit franchise to reduce cost of funds by 10 to 20 bps by
2030 - Cross-sell: unlock value through the “one-bank” approach to offer clients from all segments with integrated financial solutions to unlock new income streams
- Capabilities: deliver best-in-class services and propositions by embracing ‘Simpler, Better, Faster’ approach to increase productivity and efficiency
By 2030, CIMB aims to achieve a Top 3 in Net Promoter Score, top quartile ROE among
regional peers, CASA ratio of 45%, non-interest income ratio of between 33%-34% and cost-to-income (“CIR”) ratio in the low 40s%.
“With Forward30, the Group aims to continue enhancing our position as the leading
focused ASEAN bank, driving meaningful and lasting impact for customers, employees
and societies. We will actively pursue opportunities to reimagine our operating model,
unlock new areas of growth while generating long-term sustainable value. Our commitment remains on delivering positive shareholder returns and ensure that our future success create tangible benefits for all stakeholders,” concluded Novan.