CIMB Group Holdings is assessing a disposal of its Philippine operations to rationalise activities and prioritise larger growth territories, reported Bloomberg citing sources.
The Malaysian banking group is working with a financial adviser to explore buyer appetite for the asset, the news agency said.
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The prospective transaction could value the unit at up to $200m, according to the sources.
Talks remain in progress, and the lender could ultimately decide against a transaction. CIMB did not provide a response when contacted for comment.
According to company disclosures on its website, CIMB launched its Philippine operations in December 2018, expanding its customer total to 10 million by September 2025.
The local unit previously purchased GCredit, a revolving credit facility on GCash, in March 2021.
Across the wider region, CIMB maintains footprints in Indonesia, Singapore, Thailand, Cambodia, and Vietnam, alongside additional operations located in the UK, China, and Hong Kong.
In August, the group posted second-quarter net earnings of RM1.94bn ($475m) and stated its intention to “reallocate capital away from underperforming businesses.”
Earlier in May, the firm announced the divestment of its vehicle financing book in Thailand.
Following a 15-year peak in January, shares in CIMB have dropped by 14%, leaving the organisation with a market capitalisation of approximately $20.4bn.
