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Manila Bulletin devider Business devider Banking & Finance devider CIMB Bank aims for 10.5 million customers by end-2025 amid growth spurt

CIMB Bank aims for 10.5 million customers by end-2025 amid growth spurt

Published Jul 9, 2025 04:34 pm
CIMB Philippines CEO Vijay Manoharan
CIMB Philippines CEO Vijay Manoharan
Digital-only commercial bank CIMB Bank Philippines is setting its sights on expanding its customer base to 10.5 million by the end of 2025, driven by the introduction of new products.
“We'll grow another 500,000 by year-end, on top of the 10 million. I think we should be close to 10.5 million by 2025 December,” CIMB Philippines CEO Vijay Manoharan told reporters on Tuesday, July 8.
The new goal comes after the CIMB Bank successfully breached its earlier target of 10 million customers in June.
Manoharan stated that onboarding an additional half a million customers in the second half of the year will be supported by the rollout of new business lines and a refreshed mobile application.
CIMB's upcoming app upgrade, branded as CIMB 2.0, will feature a modernized design and new services tailored for mass affluent customers and small business owners. The updated version is slated to launch within the last quarter of the year.
Regarding its lending operations, CIMB Bank currently serves 4.5 million loan customers, with monthly loan take-up continuing to grow.
Manoharan said that the bank is on track to meet its goal of reaching 4.6 to 4.7 million loan customers this year, up from four million last year.
Loan sizes typically range from ₱4,000 to ₱60,000, with higher-value loans reaching up to ₱1 million for a select group of borrowers. Despite nearing 4.6 million customers in the first half of 2025, Manoharan is opting not to raise the full-year target.
“We also want to make sure that we grow the loan portfolio, but grow that in a responsible manner, so we're not overstretching ourselves. We want to make sure that our credit granting process will grow responsibly. We're taking, I guess, a very measured approach as we grow our loans,” he explained.
While some banks are shifting towards Near Field Communication (NFC)-based tap-to-pay services, CIMB is prioritizing the adoption of QRPH.
“As opposed to everyone having an NFC-enabled phone and an NFC terminal, I think QRPH adoption will be much more widespread and accessible. That's why we're investing more heavily in QRPH,” Manoharan said.
CIMB also expressed support for the Bangko Sentral ng Pilipinas' (BSP) initiatives to phase out one-time passwords (OTPs) and replace them with more secure transaction authentication methods.

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