CIMB Philippines triples revenue, doubles loan portfolio in H1

The digital-only bank now has 7.13 million customers in total.

Digital-only bank CIMB Philippines saw its revenues triple in the first six months of 2023 compared to the same period last year, the bank announced in a press release.

The bank attributed the strong results to its loan portfolio, which grew by 150% during the period.

CIMB Philippines now has 7.13 million customers as of June 2023, compared to 6.47 million a year earlier.

Deposit customer base grew from 5.7 million in 2022 to 6.02 million in the six month period. Loan customers are 40% higher, at 2.56 million.

CIMB shared that it also saw an increase in debit card transactions and usage, which it credited to the launch of its CIMB Virtual Debit Card. 

The bank now has close to half a million Visa virtual and physical card customers.