The Thailand-based
division of Malaysia-headquartered CIMB Bank plans to double retail
banking customer numbers to 1.2m by the end of 2012.
To boost its growth
ambitions, CIMB will open a net 22 branches this year in Thailand,
increasing its branch network in the country to 158
outlets.
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CIMB is also planning to
grow its army of mobile relationship managers, charged with
attracting new customers to the bank.
CIMB said that a number
of its existing branches remain loss-making.
To break even, each
branch requires minimum deposits of around THB1bn ($32.7m) for
shopping mall locations and THB500m for general
locations.
CIMB is also aiming to
increase its retail banking cross-sell metric from around 1.2
products-per-person to around 1.5 products-per-person by the end of
the year.
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