Kuala Lumpur: CIMB Group won all 3 Malaysia awards in this year’s Asiamoney Best Bank awards, making it the only Bank in Asia to sweep all 3 country awards. CIMB was voted Best Domestic Bank, Best Domestic Equity House and Best Domestic Debt House.
“We are delighted. This is the first time that we have won the Best Domestic Bank award and obtained a clean sweep,” said Dato’ Sri Nazir Razak, CIMB Group’s Chief Executive. He added “This is recognition of the success of our three year transformation of CIMB Bank, achieved without compromising our leadership in the capital markets arena”.
Announced in its latest publication, Asiamoney explained that “the Bank has had a dynamic 12 months, buying BankThai [now known as CIMB Thai] in Thailand and then Lippo Bank in Indonesia to become a genuinely international player”. It went on further to say “CIMB re-branded after acquiring Southern Bank in 2007 and it seems to be working, because they are growing faster than Public Bank in this area”.
For the Best Domestic Equity House award, Asiamoney had this to say: “(CIMB) is already considered to be so far ahead of its rivals that even international investment banks can’t compete”, while for the Best Domestic Debt House, it said “CIMB’s strength in bonds is a deliberate development by the Bank in recent years, and has meant that other banks and brokerages will struggle to catch up”.
The awards by Asiamoney is based on a mixture of internal research by Asiamoney’s journalists and market experts such as analysts and fund managers who look at balance sheet performance, return on investments, share price and any new business endeavours.