CIMB Group Holdings Bundle
What are CIMB Group Holdings' Customer Demographics and Target Market?
A significant demographic shift towards increased digital adoption across Southeast Asia, coupled with a growing demand for seamless financial experiences, has profoundly impacted CIMB Group Holdings Berhad. In 2024, CIMB celebrated its 100-year anniversary with the 'Kita Bagi Jadi' social movement, underscoring its purpose of advancing customers and society.
This centennial milestone, along with recent campaigns like 'Travel Only With CIMB' launched in August 2025, positions CIMB as a forward-thinking institution adapting to evolving customer lifestyles and preferences.
CIMB's customer demographics and target market are diverse, reflecting its broad range of financial services across ASEAN. The institution serves individuals, small and medium-sized enterprises (SMEs), and large corporations. Geographically, its primary focus remains on Malaysia, Indonesia, Singapore, Thailand, and Cambodia. The bank actively targets digitally-savvy millennials and Gen Z consumers seeking convenient, mobile-first banking solutions. Furthermore, it caters to businesses of all sizes, providing tailored financing, investment, and transaction services. Understanding these segments is crucial for CIMB Group Holdings PESTEL Analysis.
Who Are CIMB Group Holdings’s Main Customers?
CIMB Group Holdings serves a broad spectrum of customers across ASEAN, segmented into Consumer Banking, Commercial Banking, and Wholesale Banking, with a significant offering in Islamic banking solutions. As of March 2025, the group supports approximately 28 million customers throughout the region, leveraging a workforce of over 33,000 employees.
Consumer Banking Segment
This segment focuses on individual customers, offering a comprehensive suite of everyday banking products and services, both conventional and Islamic. As of March 2025, CIMB had 18 million consumer banking clients across Malaysia, Indonesia, Singapore, Thailand, and Cambodia, with 11 million of these being digitally active.
Commercial Banking Segment
CIMB's Commercial Banking arm caters to small and medium-sized enterprises (SMEs) and mid-sized corporations. CIMB Singapore, for instance, saw its commercial client base expand by 2.6 times between 2020 and 2024, indicating strong growth in this B2B sector.
Wholesale Banking Segment
This segment serves larger corporate clients and institutional investors, encompassing investment banking, corporate banking, treasury and markets, transaction banking, equities, and private banking services.
Strategic Evolution of Target Segments
Under its Forward30 strategic plan, launched in March 2025, CIMB is refining its approach from broad segmentation to more personalized, persona-driven engagement. This is exemplified by CIMB Niaga in Indonesia, where Consumer Banking and Enterprise Banking (EBB) contributed 45% to total loans in 2024, up from 39% in 2019.
Target Market Adaptation and Digital Expansion
CIMB is actively expanding its reach into new markets through digital initiatives. The launch of fully digital banks in the Philippines and Vietnam demonstrates a strategic focus on capturing emerging customer segments in these geographies. This evolution reflects a commitment to adapting to diverse financial needs and behaviors across the ASEAN region, a journey detailed in the Brief History of CIMB Group Holdings.
- Focus on persona-driven engagement
- Expansion into digital-first markets
- Growth in SME and consumer lending
- Tailored Islamic banking solutions
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What Do CIMB Group Holdings’s Customers Want?
CIMB's customer base seeks financial services that are not only convenient and value-driven but also easily accessible. This preference is strongly reflected in their increasing reliance on digital platforms for transactions and engagement.
Digital Transaction Dominance
Customers are increasingly shifting towards digital channels for their banking needs. In Malaysia, the CIMB OCTO app facilitated over 110 million transactions monthly in FY2024, a significant 70% increase year-on-year.
Trust and Security as Key Drivers
Trust is a paramount factor in customer decision-making. CIMB builds this trust through robust security measures in its digital offerings and a commitment to consistent service delivery.
Competitive Product Appeal
Attractive product offerings, such as market-leading deposit rates of up to 3.3% in Singapore by mid-2024, are crucial for attracting and retaining customers and their liquidity.
Everyday Banking Solutions
Customers value practical solutions for daily financial management. This is evident in the surge of digital payment transactions, with mobile phone payments up by 39.82% and QR code payments by 81.64% in Vietnam by Q1 2025.
Convenience and Tailored Experiences
Loyalty is fostered through convenience and personalized experiences. Campaigns addressing specific customer pain points, like travel, aim to create seamless journeys from booking to currency exchange.
Response to Feedback and Innovation
Customer feedback and market dynamics are integral to product development. CIMB's investment of over RM800 million (approx. USD 181.41 million) in technology upgrades in 2024 underscores its commitment to enhancing user experience and platform capabilities.
CIMB's strategic focus on digital transformation, including AI-led initiatives under its Forward30 strategy, aims to further refine customer experiences and operational efficiencies. The bank actively tailors its services to meet diverse customer needs, from dedicated relationship managers for premium clients to specialized Islamic legacy planning solutions, reflecting a deep understanding of its varied customer profile.
Tailored Financial Solutions
CIMB addresses specific customer segments with tailored offerings, demonstrating a commitment to meeting diverse financial needs across different life stages and business requirements.
- Payroll-linked accounts via CIMB@Work for employees.
- Dedicated relationship managers for Preferred and business clients.
- 24/7 fixed deposit services accessible through the CIMB Clicks mobile app.
- Islamic legacy planning services through CIMB Islamic's Comprehensive Wasiat.
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Where does CIMB Group Holdings operate?
CIMB Group Holdings maintains a significant geographical presence primarily across Southeast Asia, with its headquarters located in Kuala Lumpur, Malaysia. As of March 2025, the group operates in key ASEAN markets including Malaysia, Indonesia, Singapore, Thailand, Cambodia, Vietnam, and the Philippines. Additionally, CIMB has established market operations in Mainland China, Hong Kong, and the United Kingdom.
Core ASEAN Markets
CIMB's operational footprint spans Malaysia, Indonesia, Singapore, Thailand, Cambodia, Vietnam, and the Philippines. This extensive network allows the group to serve a broad customer base within the dynamic ASEAN region.
International Reach
Beyond its primary focus on Southeast Asia, CIMB Group also holds a market presence in Mainland China, Hong Kong, and the United Kingdom. This diversification extends its operational capabilities and market access.
Malaysian Dominance and Indonesian Strength
CIMB holds a strong market share and brand recognition in its home market of Malaysia, operating 217 branches. In Indonesia, through CIMB Niaga, it ranks as the seventh largest bank by assets as of December 2024, with 287 branches.
Singaporean Niche and Digital Expansion
In Singapore, CIMB has cultivated a significant customer base, exceeding half a million by mid-2024, contributing 15% to the group's profit before tax in 1HFY2024. The group has also successfully deployed fully digital banking operations in Vietnam and the Philippines.
Regional Adaptation
CIMB acknowledges the diverse nature of ASEAN markets, tailoring its strategies accordingly. For instance, CIMB Thai focuses on large ASEAN customers and retail wealth clients, while CIMB Niaga leads in Islamic banking in Indonesia.
Strategic Initiatives
The group's Forward30 strategy, launched in March 2025, emphasizes regional connectivity and cross-border growth. Initiatives like the 'ASEAN passport' mechanism aim to streamline services, particularly for new economic zones like the Johor-Singapore Special Economic Zone.
CIMB Customer Segmentation
CIMB's customer segmentation varies by market, with a focus on retail wealth in Singapore and Islamic banking in Indonesia. Digital banking platforms in Vietnam and the Philippines target emerging customer segments, reflecting a nuanced approach to the Mission, Vision & Core Values of CIMB Group Holdings.
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How Does CIMB Group Holdings Win & Keep Customers?
CIMB Group employs a dynamic strategy to attract and retain its customer base, with a strong emphasis on digital innovation and customer-centricity.
Digital-First Acquisition and Engagement
CIMB leverages digital platforms for customer acquisition, exemplified by campaigns like 'Kita Bagi Jadi' in 2024 and the 'Travel Only With CIMB' campaign in August 2025. The CIMB OCTO app in Malaysia processed over 110 million transactions monthly in FY2024, a 70% increase year-on-year.
Expansion into Digital Banking
The bank operates fully digital banks in the Philippines and Vietnam, targeting new and emerging customer segments with efficient, low-cost platforms. For businesses, 'OCTO Biz' is set to launch in 2026, building on the Next-Gen BizChannel platform which serves over 100,000 small business customers.
Personalized Retention Strategies
Retention efforts focus on personalized experiences and competitive offerings, such as up to 3.3% interest on savings deposits in Singapore by mid-2024. Dedicated relationship managers are available for Preferred and business clients, enhancing service for specific segments.
Data-Driven Engagement
Customer data and CRM systems are crucial for 'nuanced, persona-driven engagement' aligned with the Forward30 strategy. This approach drives personalized interactions and cost efficiency, contributing to growth such as a 2.1 times increase in Singapore's consumer customer base from 2020 to 2024.
These strategies have demonstrably strengthened the bank's financial position and customer loyalty, as seen with CIMB Niaga in Indonesia, where the Current Account Savings Account (CASA) ratio rose from 55.3% in 2019 to 66.0% in 2024, bolstering its low-cost funding base.
Targeted Marketing Campaigns
Campaigns like the 3D DOOH advertising with AR activation for Chinese New Year in February 2024 aim to directly engage customers and offer rewards, enhancing brand visibility and interaction.
Digital Banking Expansion
The bank's commitment to digital banking, including fully digital operations in the Philippines and Vietnam, allows it to reach a broader CIMB target market, especially younger and tech-savvy demographics.
Customer Segmentation
Moving beyond generic segmentation, CIMB employs persona-driven engagement based on life stages and behaviors, a key aspect of its CIMB customer segmentation approach.
Enhanced Customer Experience
Providing 24/7 fixed deposit services via the CIMB Clicks mobile app and offering competitive deposit rates are examples of how CIMB prioritizes convenience and value to retain its CIMB customer profile.
Business Banking Growth
The development of 'OCTO Biz' and the success of the Next-Gen BizChannel platform, serving over 100,000 small business customers, highlight CIMB's focus on its CIMB target market for SME banking.
Liquidity and Funding Strength
Attracting and retaining liquidity through market-leading deposit rates, such as in Singapore, directly supports the bank's financial stability and its ability to serve its CIMB banking demographics.
Key Performance Indicators
CIMB's strategic initiatives have led to significant customer base expansion and improved financial metrics, underscoring the effectiveness of its customer acquisition and retention strategies.
- CIMB OCTO app transactions increased by 70% in FY2024.
- Over 100,000 small business customers on Next-Gen BizChannel by 2H2024.
- Singapore consumer customer base grew 2.1 times (2020-2024).
- Singapore commercial client base grew 2.6 times (2020-2024).
- CIMB Niaga CASA ratio increased to 66.0% in 2024 from 55.3% in 2019.
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