CIMB downsizes Asia Pacific as costs dent bottom line

GLOBALCAPITAL INTERNATIONAL LIMITED, a company

incorporated in England and Wales (company number 15236213),

having its registered office at 4 Bouverie Street, London, UK, EC4Y 8AX

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement | Event Participant Terms & Conditions

CIMB downsizes Asia Pacific as costs dent bottom line

Malaysia_kuala_lumpur_230px.
Kuala Lumpur skyline at night | leungchopan - Fotolia

Malaysia’s CIMB Bank is scaling back its investment banking business in the Asia Pacific region as it seeks to reduce a ballooning cost base and cut operating costs by about 30% this year, just three years after it forked out £75m ($114m) to buy the Asian and Australian investment banking assets of the Royal Bank of Scotland. The plan saw it shutter its offices in Australia on Monday, in a bid to trim costs across its investment banking and equities franchise.

Unlock this article.

The content you are trying to view is exclusive to our subscribers.

To unlock this article:

Request a Free Trial or Login
Gift this article