CIMB signs Letter of Intent with Shanghai Pudong Development Bank

KUALA LUMPUR, Dec 13 (Bernama) -- CIMB Bank Berhad (“CIMB” or “the Bank”) and Shanghai Pudong Development Bank Co., Ltd. (“SPDB”) have deepened their commitment, through the execution of a Letter of Intent (“LOI”), to provide a comprehensive suite of solutions and services to fast-track expansion of SPDB’s clients into the ASEAN region. The LOI will provide clients an edge through CIMB’s localised and cross-border strengths across several main areas, covering trade settlement and finance; investment consulting services, debt capital markets, treasury & markets, and global payment business. 

The collaboration was formalised at the launch of SPDB’s Cross-Border Financial Services, at the headquarters of SPDB in Shanghai, in conjunction with the China International Import Expo (“CIIE”). In addition, it demonstrates commitment from both parties to boost economic growth and foreign investments into the region.