CIMB Group is exploring a sale of its business in the Philippines, home to the digital-only lender CIMB Bank Philippines, as it looks to streamline and focus on bigger markets, according to a Bloomberg report.

The Malaysian lender is working with a financial adviser and has approached potential buyers to gauge interest, people familiar with the matter told Bloomberg.

A deal could value the business at up to US$200 million.

No decision has been made, and CIMB could still opt not to sell, the people said.

Bloomberg said the bank did not respond to its requests for comment.

CIMB Bank Philippines Grew to 10 Million Customers

The Malaysian group entered the Philippines in December 2018 with a digital-only model and had 10 million customers by September 2025, according to its website.

Beyond its own app, the bank powers savings accounts on partner platforms, including GSave in GCash.

A Second Disposal in Five Months

A Philippine sale would follow CIMB’s agreement in May to sell CIMB Thai Bank’s automotive financing portfolio to Krungsri, a deal the group tied to its Forward30 strategy of exiting non-core businesses.

In August, CIMB said it was continuing to move capital away from underperforming businesses.

The group’s shares have fallen 14% since hitting a 15-year high in January, giving it a market value of about US$20.4 billion.

Featured image: Edited by Fintech News Philippines based on an image by thanyakij-12 via Magnific.