Oct 27·Market
Follow-up 5d ago Major2
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CIMB seeks buyer for Philippine unit valued at $200M
CIMB Group Holdings Bhd is seeking to sell its Philippine banking unit, which has attracted bids from local rivals BPI and Metrobank. The business could be valued at up to $200 million, with binding bids due by the end of October 2026, though no final agreement has been reached.
Quick Facts
- Sale of CIMB's Philippine banking business
- Binding bids due from prospective buyers
- Financial adviser engaged for divestment process
- CIMB Group Holdings Bhd
- Bank of the Philippine Islands (BPI)
CIMB Group Holdings Bhd is pursuing the sale of its Philippine banking business, which has attracted interest from local rivals including Bank of the Philippine Islands (BPI) and Metropolitan Bank & Trust Co (Metrobank), according to sources familiar with the matter. Binding bids for the unit are due before the end of October 2026. Other unnamed parties have also shown interest in acquiring the assets.
The Malaysian lender is working with a financial adviser on the potential divestment and has reached out to prospective buyers. A deal could value the business at as much as $200 million, though sources emphasised that considerations are ongoing and there is no certainty a transaction will be completed. BPI declined to comment on the sale process, while CIMB and Metrobank did not respond to requests for comment.
CIMB established its Philippine operations in December 2018 and has grown to serve 10 million customers as of September 2025. The bank operates across multiple Southeast Asian countries including Indonesia, Singapore, Thailand, Cambodia, and Vietnam, alongside operations in China, Hong Kong, and the United Kingdom.
Topics
Why This Matters
CIMB's divestment of its Philippine operations affects the competitive landscape in one of Southeast Asia's largest banking markets. The $200 million valuation reflects the unit's asset base and customer reach (10 million customers as of September 2025). A successful sale would reduce CIMB's regional footprint and reshape market consolidation; binding bids by October 2026 establish a measurable transaction timeline. Market observers will track the final buyer and deal structure as indicators of appetite for mid-sized banking assets in the Philippines.
Timeline & Sources
Oct 27, 2026
WireBloomberg reports CIMB's planned sale of Philippine unit attracts BPI and Metrobank interest
Oct 28, 2026
WireThe Star reports binding bids due before end of month