Who Owns CIMB Group Holdings Company?

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Who Owns CIMB Group Holdings Berhad?

Understanding CIMB Group Holdings Berhad's ownership is key to grasping its strategic path and governance. A major step was its 2006 merger, consolidating key financial entities into a universal bank.

Founded in 1924, CIMB Group has evolved into a leading ASEAN universal bank. Its extensive services span consumer, commercial, wholesale, and Islamic banking, alongside asset management. As of March 31, 2025, its market capitalization reached approximately RM75.2 billion, supported by around 33,000 employees and a broad ASEAN branch network. A CIMB Group Holdings PESTEL Analysis can offer further insights into its operational environment.

The origins of CIMB Group Holdings trace back to 1924 with the establishment of Bian Ching Bank in Kuching by Kheng Chiang Wee and Kheng Whatt Wee. Another foundational entity was Ban Hin Lee Bank, founded in Pulau Pinang in 1935. These early institutions, alongside others like Southern Bank Berhad established in 1965, were part of a dynamic Malaysian banking sector that saw significant consolidation over time.

Early Banking Roots

CIMB Group's lineage began with Bian Ching Bank in 1924 and Ban Hin Lee Bank in 1935, highlighting early entrepreneurial spirit in Malaysian finance.

Sector Consolidation

The Malaysian banking landscape experienced numerous mergers and acquisitions over the decades, shaping the formation of larger financial institutions.

Merchant Banking Focus

Pertanian Baring Sanwa Multinational Bank, established in 1974, evolved into Commerce International Merchant Bankers Berhad (CIMB) in 1986, specializing in corporate finance and IPOs.

Founding Partnerships

The early banking entities were characterized by a blend of local founders and international collaborations, setting the stage for future growth.

Corporate Evolution

CIMB Group Holdings Berhad itself was incorporated in Malaysia in 1974, marking a significant step in its corporate journey.

Limited Early Data

Specific equity splits for the earliest foundational entities are not widely available in public records for the current group structure.

The formation of Commerce International Merchant Bankers Berhad (CIMB) in 1986, following an acquisition by Bank of Commerce, marked a pivotal moment. This entity concentrated on corporate finance and initial public offerings (IPOs). While detailed ownership structures of these nascent enterprises are not extensively documented in public archives for CIMB Group Holdings Berhad, which was incorporated in 1974, the initial phase of Malaysian banking was defined by a mix of local entrepreneurial ventures and international alliances. This foundational period laid the essential groundwork for subsequent mergers and the eventual establishment of the modern financial conglomerate. Understanding this history is key to grasping the Brief History of CIMB Group Holdings and its ownership evolution.

Key Early Entities and Their Focus

The early development of CIMB Group Holdings involved several key banking entities with distinct origins and operational focuses, contributing to its eventual consolidation.

• Bian Ching Bank (1924): Established by Kheng Chiang Wee and Kheng Whatt Wee.
• Ban Hin Lee Bank (1935): Founded in Pulau Pinang.
• Southern Bank Berhad (1965): Established in Kuala Lumpur.
• Pertanian Baring Sanwa Multinational Bank (1974): A collaboration involving Bank Pertanian of Malaysia, Baring Brothers (UK), and Sanwa Bank (Japan), later becoming CIMB.

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CIMB Group Holdings' ownership structure has been shaped by significant strategic maneuvers, including mergers and acquisitions that consolidated its banking operations. The company's journey involved renaming and restructuring, culminating in the formation of the current CIMB Group in 2006, which has been listed on Bursa Malaysia since 1987.

The ownership of CIMB Group Holdings Berhad is predominantly characterized by substantial institutional backing, reflecting a strong presence of Malaysian government-linked investment entities. Khazanah Nasional Berhad stands as the largest shareholder, holding 21.6% of the company's shares as of July 31, 2025. This significant stake is complemented by holdings from other major Malaysian institutional investors, including the Employees Provident Fund (EPF) with 16.5% and Kumpulan Wang Persaraan (KWAP) with 5.7%. Permodalan Nasional Berhad (PNB) also maintains a considerable interest. Collectively, these institutions own 49% of CIMB Group, with the top five shareholders controlling 52% of the company as of July 23, 2025. This concentration of ownership among institutional investors highlights their influence on the company's strategic direction and market performance. Individual insiders hold a minor stake, less than 1%, valued at approximately RM7.1 million as of July 23, 2025. This ownership structure has been instrumental in positioning CIMB as a leading financial institution across ASEAN, facilitating its expansion and diverse financial service offerings, and is a key aspect when considering the Competitors Landscape of CIMB Group Holdings.

Key Ownership Insights

CIMB Group Holdings Berhad's ownership is heavily concentrated among institutional investors, underscoring a stable and influential shareholder base.

• Khazanah Nasional Berhad is the largest shareholder with 21.6%.
• Institutional investors collectively own 49% of the company.
• The top 5 shareholders control 52% of CIMB Group Holdings.
• Individual insider ownership is minimal, less than 1%.
• This structure supports CIMB's strategic growth and regional expansion.

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The Board of Directors of CIMB Group Holdings Berhad is instrumental in guiding the company's strategic direction and ensuring robust corporate governance. As of July 20, 2025, Datuk Syed Zaid Syed Jaffar Albar leads the board as Chairman and Independent Director, taking over from Tan Sri Mohd Nasir Ahmad who retired on July 19, 2025. Novan Amirudin serves as Group Chief Executive Officer and Executive Director, with Didi Syafruddin Yahya as the Senior Independent Director.

The voting power within CIMB Group Holdings Berhad is structured around a fundamental principle of one-share-one-vote for its registered shareholders, as stipulated in the company's constitution. This ensures that each share held carries equal voting rights, promoting a fair distribution of influence among the CIMB Group Holdings shareholders. Board resolutions are typically enacted through a majority vote, reflecting a collective decision-making process. Recent leadership transitions, including the redesignation of Datuk Syed Zaid Syed Jaffar Albar to Chairman on July 20, 2025, underscore the company's commitment to effective leadership and governance continuity. Understanding the ownership structure is key to grasping the dynamics of CIMB Group Holdings ownership.

Key Governance Aspects

The board composition and voting power are crucial for the company's governance. Key individuals and their roles ensure strategic oversight.

• Datuk Syed Zaid Syed Jaffar Albar as Chairman
• Novan Amirudin as Group CEO
• Didi Syafruddin Yahya as Senior Independent Director
• Majority vote for board resolutions
• One-share-one-vote principle

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CIMB Group Holdings Berhad has experienced significant leadership transitions and strategic ownership developments over the past few years. These changes reflect a commitment to evolving business needs and robust governance, impacting its overall ownership trends.

Ownership trends at CIMB Group Holdings Berhad indicate a continued reliance on institutional backing, with a significant portion of shares held by these entities. The Group has also actively pursued share buyback programs, signaling confidence in its valuation and a strategy to potentially enhance shareholder value. As of July 2025, institutions hold approximately 49% of CIMB Group Holdings, a figure that underscores the importance of institutional investors in its shareholder base. This strong institutional presence is a common characteristic among major financial institutions, suggesting a stable investment community. The Group's strategic focus remains on strengthening its Current Account Savings Account (CASA) and deposit base, alongside efforts to improve net interest margins and asset quality, aligning with its Forward30 strategic plan for sustained growth.

Institutional Investor Dominance

As of July 2025, institutional investors collectively own around 49% of CIMB Group Holdings. This significant stake highlights the trust and confidence placed in the company by major financial institutions.

Share Buyback Initiatives

The Group has proposed a renewal of its authority to conduct share buybacks in February 2025. This strategy is often employed to manage share capital and potentially boost earnings per share.

Leadership Evolution and Strategy

Recent leadership changes, including the appointment of a new Group CEO in June 2024 and adjustments in digital banking leadership in January 2025, underscore the Group's dynamic approach to management and its focus on the Growth Strategy of CIMB Group Holdings.

Strategic Financial Objectives

Key strategic objectives for 2024 and beyond include enhancing the CASA and deposit franchise, alongside improving net interest margins and asset quality, as detailed in the 2024 Annual Report.

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