Tuesday, December 1

CIMB encourages going green with lower financing rates

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Samir (second right), Rafe (second left), CIMB Group regional head of cards, retail assets and deposits (group consumer banking) Vipin Agrawal (left) and head of retail assets and deposits (group consumer banking) Yong Kwai Ling (right) supporting CIMB’s lower financing rates for hybrid vehicles and Green Building Index-certified properties.

KUCHING: CIMB Bank Bhd (CIMB Bank) and CIMB Islamic Bank Bhd (CIMB Islamic) have rolled out preferential financing rates for new hybrid vehicles and residential properties certified under the Green Building Index (GBI).

The move marks another significant step towards the CIMB Group’s embracing of Environmental, Social and Governance (ESG) principles group-wide. CIMB customers will be offered 10 basis points (0.10 per cent) lower interest rate versus the applicable promotion interest rate, for new hybrid vehicles as well as for GBI-certified residential properties.

These offers support CIMB Group’s commitment to embed sustainability principles Group-wide, while also supporting the global initiative for responsible banking, through the Group’s membership of the United Nations’ (UN) Environment Programme Finance Initiative Principles for Responsible Banking (UNEP-FI).

CIMB Group is currently the only banking group in Malaysia and Asean to be a founding member of the sustainable initiative, together with 26 other leading banks from five continents and 19 countries.

CIMB Group chief executive officer for group consumer banking Samir Gupta said, “As a leading Asean universal bank, CIMB’s strong regional footprint represents not just our strength, but also our responsibility to help shape the region’s environmental agenda through responsible banking.

“We are pleased to be the first bank in Malaysia to introduce lower financing rates for vehicles and properties that are environmentally friendlier – proof that we are putting our ESG commitment into action.

“This is another significant step towards fulfilling CIMB’s commitment to embed ESG into our business model, and we look forward to introducing more products and services that will result in a more positive impact on the environment and communities.”

Meanwhile, CIMB Group chief executive officer of group Islamic banking Rafe Haneef, who also heads the Group’s sustainability initiative, commented, “These lower-financing banking products not only add value to our customers, but are also a meaningful step towards fulfilling our commitment to achieve UNEP-FI’s objectives to ensure the banking industry creates a positive impact not just economically, but also socially and environmentally.

“Our membership of the UNEP-FI also supports Bank Negara Malaysia’s Value-Based Intermediation strategy for the Islamic banking industry, as well as CIMB’s own ongoing initiative to embed sustainability into all aspects of our operations Group-wide.”

For more information and the list of GBI-certified properties, customers can visit any CIMB Bank or CIMB Islamic Bank branch in Malaysia, visit www.cimbbank.com.my/hybrid / www.cimbbank.com.my/greenhome or refer to the Green Building Index.