CIMB Bank Bhd has taken a strategic step toward property ownership by acquiring 16 operational premises from Malaysia’s Employees Provident Fund (EPF) for RM209.81 million. The purchase marks a shift from the bank’s previous leasing arrangement, terminating a 15-year rental agreement that would have expired in June 2025.
The transaction, disclosed through a Bursa Malaysia filing, involves properties currently housing CIMB Bank’s operational branches. The bank retains first-right options on eight additional EPF-owned properties should the pension fund fail to find alternative buyers. An independent valuation will determine the repurchase price for these remaining assets.
This acquisition forms part of CIMB Bank’s broader financial strategy, expected to positively impact its 2025 profit and loss statements. The deal structure aligns with existing lease terms, ensuring continuity for the bank’s business operations while transitioning to ownership.
Completion of the property transfer is anticipated between late 2025 and early 2026, pending unforeseen delays. The move reflects CIMB’s long-term commitment to securing strategic assets while optimizing its financial position in Malaysia’s competitive banking sector.