CIMB now offers Asean-wide ‘Preferred’ privileges

This article first appeared in The Edge Financial Daily, on October 1, 2018.

CIMB Group group chief executive officer Tengku Datuk Seri Zafrul Aziz (fourth from left) and group chief marketing officer Mohamed Adam Wee Abdullah (fifth from left) together with representatives of each country including (from left) CIMB Thai head of preferred segment Thiratida Kuvantrarai, CIMB Singapore head of preferred banking Noelle Low, CIMB Bank Malaysia group consumer banking regional head of preferred banking and segments Desmond Teoh, CIMB Niaga Indonesia decision management and customer experience head of segment Noviady Wahyudi, CIMB Cambodia’s Nget Pov (preferred banking) and CIMB Vietnam’s Nguyen Phan Ngoc Lien (preferred banking proposition) at the launch of the Regional CIMB Preferred in Kuala Lumpur last Friday night.

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KUALA LUMPUR: CIMB Bank Bhd and CIMB Islamic Bank Bhd have expanded the privileges offered to its “Preferred” affluent customer segment by going regional.

Named the “Regional CIMB Preferred”, this expanded proposition that was launched in Kuala Lumpur last Friday night enables CIMB’s affluent customers to enjoy enhanced banking convenience and privileges across six Asean countries, regardless of where their domiciled account is.

This makes CIMB the only Malaysian bank that provides Preferred membership across the region without having customers meet the minimum requirement of having assets under management (AUM) in countries outside the customer’s domicile, the bank said in a statement yesterday.

“The Regional CIMB Preferred proposition is a result of substantial investments in cutting-edge systems and processes to enable us to better leverage our strong Asean network. The result is a compelling suite of banking convenience and lifestyle privileges across the region to make the Regional CIMB Preferred the leading affluent banking experience within Asean. Be it shopping in Malaysia, holidaying in Indonesia, investing in Singapore or opening an account for a new business in Vietnam, the Regional CIMB Preferred offers unparalleled customer experience for our Preferred clients,” said Samir Gupta, the chief executive officer of group consumer banking of CIMB Group.

Among the benefits of the Regional CIMB Preferred are: seamless cross-border account opening in any country for an account in a different destination country, free fund transfers, lower foreign exchange rates and priority banking service at 120 CIMB Preferred Centres and 1,100 CIMB branches in Malaysia, Cambodia, Indonesia, Singapore, Thailand and Vietnam. A dedicated relationship manager is also assigned to every CIMB Preferred customer for the latter’s wealth management needs, said CIMB.

Customers can also choose to nominate friends and family members with lower AUM, and in any part of Asean, to enjoy the CIMB Preferred status for 12 months. Additional lifestyle privileges include exclusive travel and dining offers, as well as unlimited access to airport lounges within Asean, CIMB added.