CIMB allocates RM12b for B40 financing needs until 2020

KUALA LUMPUR: CIMB Group Holdings Bhd is targeting to disburse RM12 billion to the bottom 40 per cent household income group (B40) as home, car, Amanah Saham Bumiputera (ASB) and personal loans from now to next year.

Group chief executive officer Tengku Datuk Seri Zafrul Tengku Abdul Aziz said the target was in line with CIMB’s next mid-term growth plan, “Forward23”.

“A nation’s prosperity is only meaningful when every single one of its people is enabled to prosper. Being particularly mindful of the B40 segment, CIMB has taken extra steps to ensure that our lending policies are financially inclusive,” he said in a statement.

“To that end, through CIMB Bank and CIMB Islamic, we have targeted to disburse RM12 billion to the B40 segment as home, car, ASB or personal financing for this year to next year, and we will not stop there.

“We will continue to find ways to assist the B40 segment, whether through our business operations, or corporate responsibility initiatives.”

Another RM2 million has been allocated to empower more small business owners from the B40 segment this year.

CIMB Group has also committed one per cent of its profit before tax from last year to next year to fund its corporate responsibility initiatives in Asean member countries.

It also has a market presence in China, Hong Kong, India, Sri Lanka, South Korea, the United States and the United Kingdom.

Its market capitalisation stood at RM54.6 billion at the end of last year.