PETALING JAYA: CIMB Bank Bhd will provide a comprehensive suite of solutions and services to fast-track expansion of Shanghai Pudong Development Bank Co Ltd (SPDB) clients into the Asean region.
The collaboration will give SPDB clients access to CIMB’s localised and cross-border strengths across several main areas, covering trade settlement and finance, investment consulting services, debt capital markets, treasury and markets, and global payment business.
A letter of intent (LoI) on the collaboration was signed at the launch of SPDB’s Cross-Border Financial Services at the headquarters of SPDB in Shanghai, in conjunction with the China International Import Expo. It also demonstrates the commitment of both parties to boost economic growth and foreign investments into the region.
Representing the respective parties at the signing of the LOI were CIMB Group wholesale banking CEO Chu Kok Wei and SPDB deputy president Kang Jie. The signing ceremony was attended by more than 100 industry leaders from local government, regulatory authorities and multinational companies.
