The 2.5 million valued loans that CIMB Bank PH, a digital banking services provider, recorded in the first quarter of 2023( Q12023) are attributable to the growth of its deposit and lending portfolios. The bank’s total number of guests reached 7 million.
According to the CIMB Bank PH, it reached a sale value of further than P120 billion for the same period. Its active druggies also grew further than 50 in the last 12 months and it had the loftiest yearly active druggies in March 2023.
“ Since our launch, we’ve always concentrated on furnishing our guests an unmatched banking experience through offering request- leading deposit rates and affordable loan interest rates, and being accessible through our different mates, like GCash, via CIMB GSave and GCredit, and more lately, Shopee, through SPayLater loans, ” Vijay Manoharan, CEO, CIMB Bank.
CIMB Bank PH particularly showcased a strong performance on its lending portfolio. The Bank doubled its loan guests in the last 12 months to2.5 million by the end of March 2023.
“ We anticipate to double our loans balance distance by the end of 2023 from the former time, while keeping ournon-performing loans( NPLs) at veritably healthy situations, ” Manoharan said.
The Bank presently has a suite of lending products, ranging from cash loans, revolving credit lines, and buy- now- pay- latterly( BNPL) products. Through these, the Bank extends loans ranging from P 2,000 to as high as P1 million. It also offers app- grounded particular Loans and REVI Credit products.
“ Through our bedded banking model, we will continue to give Filipinos with meaningful fiscal results that give real value, so that they can fulfill their life’s purpose, ” said Manoharan.