Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  BURSA MALAYSIA  >  CIMB Group Holdings Bhd    CIMB   MYL1023OO000

SummaryNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

CIMB Group Holdings Bhd : Malaysia's CIMB Group To Buy 60% Stake In Philippines' Bank Of Commerce For $288.4 Million

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/08/2012 | 10:35am CEST

Malaysian lender CIMB Group Holdings Bhd (1023.KU) Tuesday said it has signed an agreement to buy a 60% stake in privately held Bank of Commerce for MYR881 million ($288.4 million) in cash, a deal that will give the Malaysian bank a foothold in the fast-growing Philippine market.

It will buy the stake from San Miguel Corp. (SMC.PH), a diversified Philippine conglomerate and other Bank of Commerce shareholders, CIMB, Malaysia' second largest lender by asset size, said in a statement.

The stake purchase price represents PHP181.25 for every share held in Bank of Commerce, CIMB said.

"As an Asean universal bank, this extension into the Philippines is a very natural one. I believe we are entering this market at the right time, with the right deal and right partner," CIMB Group Chief Executive Nazir Razak said in the statement.

-By Ankur Relia; Dow Jones Newswires; 603-2026-1233; ankur.relia@dowjones.com

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on CIMB GROUP HOLDINGS BHD
08/17 CIMB BHD : Extends Commitment to Classic through 2020News
08/04 CIMB BHD : `Bilateral agreement will give players greater banking access`
08/02 CIMB BHD : Niaga Profit Quadruples Despited Weakened Lending
08/01 CIMB BHD : -Principal’s RM150 million bond fund focuses on Asia Pacific&rs..
07/30 CIMB BHD : Residents plead with CIMB not to close Muadzam Shah branch
07/29 CIMB BHD : Group and Fajr Capital Announce Strategic Partnership News
07/28 CIMB BHD : Group and Fajr Capital Announce Strategic Partnership
07/21 CIMB BHD : Group remains on track for earnings recovery
07/19 CIMB BHD : cuts base lending rate
07/18 CIMB BHD : Announces Reduction in Base Rate, BLR and BFR
More news
Sector news : Commercial Banks
02:32a BAUER HOCKEY GEAR MAKER TAPS DEBT RE : sources
08/23DJPZU in Talks Over Buying UniCredit Stake in Bank Pekao -- Update
08/23DJBANK OF MONTREAL : Profit Rises on Cost-Cutting, Higher Revenue -- Update
08/23DJPZU in Talks Over Buying UniCredit Stake in Bank Pekao
08/23DJSony to Raise Price of PlayStation Plus Service
More sector news : Commercial Banks
News from SeekingAlpha
2015 GLOBAL X SOUTHEAST ASIA ETF : Un-Emerging Market
2015 EWM : Does This Former Tiger Economy Merit A Closer Look?
Advertisement
Financials ( MYR)
Sales 2016 15 722 M
EBIT 2016 6 604 M
Net income 2016 3 824 M
Debt 2016 -
Yield 2016 3,79%
P/E ratio 2016 10,53
P/E ratio 2017 9,48
Capi. / Sales 2016 2,60x
Capi. / Sales 2017 2,47x
Capitalization 40 938 M
More Financials
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 4,79  MYR
Spread / Average Target 2,0%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Zafrul bin Tengku Abdul Aziz Group Chief Executive Officer & Executive Director
Mohamed Nazir bin Abdul Razak Chairman
Iswaraan Suppiah Group Chief Information & Operations Officer
Shahnaz Farouque bin Jammal Ahmad Chief Financial Officer
Glenn Muhammad Surya Yusuf Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
CIMB GROUP HOLDINGS BH..10 142
AGRICULTURAL BANK OF C..-0.93%154 323
HSBC HOLDINGS PLC1.12%141 775
AUSTRALIA AND NEW ZEAL..-4.69%59 910
SHANGHAI PUDONG DEVELO..-1.20%53 278
CHINA CITIC BANK CORPO..-10.80%42 441
More Results