CIMB Group Holdings Bhd’s planned sale of its banking business in the Philippines has attracted interest from local financial institutions, including Bank of the Philippine Islands (BPI) and Metropolitan Bank & Trust Co, also known as Metrobank.
According to people familiar with the matter, interested parties are expected to submit binding bids before the end of November. Other potential buyers have also expressed interest in acquiring the business.
The Malaysia-based banking group is working with a financial adviser to manage the proposed sale and has approached potential buyers to assess their interest.
The transaction could be valued at up to US$200 million (approximately RM817 million), although discussions are still ongoing and there is no guarantee that a deal will be completed.
Following news of the potential sale, BPI shares rose 5.5%, while Metrobank gained 3%, marking their biggest single-day increases since June 15. CIMB shares, meanwhile, remained relatively unchanged in Kuala Lumpur.
Representatives from BPI declined to comment on the matter, while CIMB and Metrobank did not respond to requests for comment.
CIMB entered the Philippine market in December 2018 and had grown its customer base to 10 million by September 2025, according to information on its website.
Beyond the Philippines, CIMB operates across several Southeast Asian markets, including Indonesia, Singapore, Thailand, Cambodia and Vietnam. The group also has selected operations in China, Hong Kong and the United Kingdom.
The proposed divestment would mark a potential change in CIMB’s regional business presence as the group reviews its operations in the Philippines.
