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CIMB GroupMalaysia
Active
This profile is actively maintained
Last update: 2022-11-10 10:50:22
CIMB Group's headquarters in Kuala Lumpur, Malaysia. Photo: Photo by CEphoto, Uwe Aranas via Wikimedia Commons (CC BY-SA 3.0)
Active
This profile is actively maintained
Last update: 2022-11-10 10:50:22
About
| Website | http://www.cimb.com |
| Headquarters |
Jalan Raja Laut
50350 Kuala Lumpur
Malaysia
|
| CEO/chair |
Dato' Abdul Rahman Ahmad CEO |
| Supervisor | |
| Ownership |
listed on Bursa Malaysia
CIMB Group's largest shareholder is Khazanah Nasional (a sovereign wealth fund owned by the Government of Malaysia) with 24.5% of the shares (dated Sept 30 2022). The bank's complete shareholder structure can be accessed here. |
CIMB Group is a large commercial bank headquarted in Kuala Lumpur, Malaysia. It was founded in 1924 as Bian Ching Bank in Kuching. After several mergers with other banks such as Ban Hin Lee Bank, Bank Lippo, Bank Niaga, United Asian Bank, Southern Bank and Bumiputra Commerce Bank, CIMB Group was officially formed in 2006. Its operations are focused on Consumer Banking, Corporate & Institutional Banking and Markets and Group Asset Management & Insurance. CIMB's investment bank is one of the largests in Asia. It also has an Islamic banking and finance franchise, called CIMB Islamic.
Sustainability
Policies
Voluntary standards
Links
CIMB Group's web page on corporate social responsibility can be accessed here.
CIMB Group has committed itself to the following voluntary standards:
Dodgy Deals
CIMB Group is linked to a number of companies and projects that BankTrack considers controversial (so called Dodgy Deals), e.g. as a current or past financier or through an expression of interest. The profiles below provide more details on the nature of CIMB Group's link to these deals.
Projects / Companies
Finance type
Year
Campaigns
Banks and Climate
Partner organisation Reclaim Finance tracks the coal, oil and gas policies of financial institutions, including banks, in their Coal Policy Tool (CPT) and the Oil and Gas Policy Tracker (OGPT). BankTrack works closely with Reclaim Finance and endorses their policy assessments. Find further details on their assessment of CIMB Group’s fossil fuel policy below.
Banks and Human Rights
BankTrack assessed CIMB in its 2022 Human Rights Benchmark Asia, where it achieved 2.5 points out of 14 and was ranked as a 'laggard'. More information is detailed in the "Accountability" section of this profile.
Human Rights Benchmark Asia 2022
BankLast update
Country
Score
Ranking
Details
CIMB Group
MYS
2.5
Laggard
0
Explanation
Laggard
Follower
Front runner
Leader
0 - 3 points
3.5 - 6 points
6.5 - 9 points
9.5 - 14 points
For more details see this page.
Banks and Nature
CIMB Group’s policies for forest-risk sectors (beef, soy, palm oil, pulp and paper, rubber and timber) have been assessed by the Forests & Finance coalition, achieving an overall score of 4.6 out of 10 and ranking it as a front runner. CIMB Group achieved a score of 2 out of 10 specifically for its policies related to the beef sector and 4.7 out of 10 for its policies related to the palm oil sector. Between 2016 and 2022, CIMB Group provided USD 5,033 million in credit to companies operating in these forest-risk sectors. For more information, see the links below.
Forest & Finance Policy Assessment 2022: Overall scores
BankLast update
Country
Score
Ranking
Details
CIMB
2022-09-21
MYS
4.6
Front runner
0
Explanation
A bank can obtain a total of 10 points for the quality of its policies. The total score is based on their scores per sector, weighted against their financing and investment for each sector. For further details on this see here. Based on their overall score, banks are then classified as Laggards, Followers, Front runners or Leaders, as follows:
Laggard
Follower
Front runner
Leader
0 - 1 points
1 - 4 points
4 - 7 points
7 - 10 points
For more details see this page.
Forest & Finance Policy Assessment 2022: Beef
BankLast update
Country
Score
Ranking
Details
CIMB
2022-09-21
MYS
2
Follower
0
Explanation
A bank can obtain a total of 10 points for the quality of its beef policy. The total score is based on their scores per sector, weighted against their financing and investment for each sector. For further details on this see here. Based on their overall score, banks are then classified as Laggards, Followers, Front runners or Leaders, as follows:
Laggard
Follower
Front runner
Leader
0 - 1 points
1 - 4 points
4 - 7 points
7 - 10 points
For more details see this page.
Forest & Finance Policy Assessment 2022: Palm Oil
BankLast update
Country
Score
Ranking
Details
CIMB
2022-09-21
MYS
4.7
Front runner
0
Explanation
A bank can obtain a total of 10 points for the quality of its palm oil policy. The total score is based on their scores per sector, weighted against their financing and investment for each sector. For further details on this see here. Based on their overall score, banks are then classified as Laggards, Followers, Front runners or Leaders, as follows:
Laggard
Follower
Front runner
Leader
0 - 1 points
1 - 4 points
4 - 7 points
7 - 10 points
For more details see this page.
News
BankTrack
Partners
Blog
External
Resources
Documents
Links
Accountability
Grievances
CIMB Group operates a Grievance Redressal channel which can be accessed here.
This page evaluates CIMB Group's responses to instances of alleged human rights violations linked to its finance, raised by civil society organisations. It is not intended to be exhaustive, but covers selected impacts raised by BankTrack and other civil society partners since 2016. For the full scoring methodology, see here. For more information about BankTrack's evaluation of bank responses to human rights impacts, see the 2021 report "Actions speak louder: assessing bank responses to human rights violations".
Impacts reviewed
Responded?
Total score
Response
Action
Monitoring
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