KUALA LUMPUR: CIMB Bank Bhd aims to double the assets under management (AUM) under its preferred segment by 2025 in line with the strong wealth market growth in Asean.

       It noted that the total Asean wealth market generates an annual revenue of around RM40bil.

       The lender expected a rapid growth of the market between 2020 and 2025, with a forecast compounded annual growth rate of over 13%.

       On that note, CIMB Bank and CIMB Islamic Bank Bhd have strengthened their offerings for emerging and affluent clients across the Asean region.

       “CIMB Preferred reinforces its core value of Asean recognition, offering exclusive privileges and preferential rates across multiple products, and holistic wealth and investment solutions including access to a wide range of both conventional and Islamic investment as well as bancassurance and bancatakaful offerings,” said the bank.

       Meanwhile, CIMB Group chief executive officer of group consumer banking Samir Gupta said the bank has reassessed the traditional wealth band approach to client segmentation and realigned CIMB Preferred to better serve its Asean clients.

       “Through CIMB Preferred, we aim to become the bank of choice for emerging and affluent clients in the region by providing personalised, trustworthy advice and a differentiated experience, backed by our strong Asean franchise,” he pointed out.