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CIMB Group looking to grow Vietnam unit as digital bank

Malaysia's CIMB Group Holdings Bhd. is looking to grow its subsidiary in Vietnam as a digital bank, The Nikkei reported Dec. 9, citing Group CEO Zafrul Aziz.

The Malaysian bank will provide banking services on mobile phones to customers, working with telecommunications operators to offer these services. The lender is also looking to sell wealth products to high-income customers.

CIMB Vietnam is set to open its branch in Hanoi on Dec. 9 and another in Ho Chi Minh City in early 2017.