CIMB eyes Laos

CIMB Group would apply for a banking licence in Laos in its bid to cover all Asean markets.

"We will be applying for a new licence in Laos, so that if the Philippine deal goes through, it will mean we will be in all countries in Asean," said CIMB Group Chief Executive, Datuk Seri Nazir Razak.

Negotiations between the CIMB and San Miguel Corp on the proposed acquisition of a stake in Bank Of Commerce in the Philippines are expected to be concluded in the first quarter of this year.

"Talks are progressing well but no certainty in terms of price or percentage at this point in time," he said about the Bank of Commerce deal after launching CIMB Bank BizLoyalty Programme for small and medium enterprise customers.

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