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

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

SummaryNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

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
03/24 MALAYAN BANKING BERHAD : Maybank and CIMB to enable Alipay mobile wallet in Mala..
03/23 CIMB Research maintains overweight on banks
03/23 CIMB BHD : enables Alipay mobile wallet in Malaysia
03/22DJJACK MA : Alibaba to Establish Malaysia Hub
03/17 Malakoff unit issues RM800mil sukuk wakalah
03/16 ASEAN ROUNDTABLE SERIES ON“DEA : What will Trump’s economic and fore..
03/08 CIMB BHD : Principal Is First Asset Management Company in Malaysia to obtain Ren..
03/02 CIMB BHD : launches current account for SMEs
02/28 CIMB BHD : Group announces record revenue of RM16.07 billion for FY16
02/28DJCIMB BHD : Group 4Q Net Profit Rises 3.5% From a Year Earlier
More news
Sector news : Commercial Banks
03/27DJForeign Investors Flock to Iran as U.S. Firms Watch on the Sidelines -- Updat..
03/27DJICG Enterprise Renews GBP40 Million of Debt
03/27 Bank stocks slip on uncertainty after healthcare bill fails
03/27 Factbox - Impact on banks from Britain's vote to leave the EU
03/27 RBS answering regulator questions about Russia money laundering claims
More sector news : Commercial Banks
News from SeekingAlpha
2016 Saudis Take Bite Out Of McDonald's
2015 GLOBAL X SOUTHEAST ASIA ETF : Un-Emerging Market
2015 EWM : Does This Former Tiger Economy Merit A Closer Look?
Advertisement
Financials ( MYR)
Sales 2017 16 542 M
EBIT 2017 7 121 M
Net income 2017 4 244 M
Debt 2017 -
Yield 2017 3,75%
P/E ratio 2017 11,68
P/E ratio 2018 10,59
Capi. / Sales 2017 3,01x
Capi. / Sales 2018 2,85x
Capitalization 49 840 M
More Financials
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 5,44  MYR
Spread / Average Target -3,2%
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..11 268
HSBC HOLDINGS PLC-1.31%161 094
AGRICULTURAL BANK OF C..4.84%153 120
AUSTRALIA AND NEW ZEAL..3.09%70 179
JAPAN POST BANK CO LTD0.29%57 416
SHANGHAI PUDONG DEVELO..-1.54%50 148
More Results