Kuala Lumpur: CIMB Group Holdings Bhd's wholly-owned subsidiary, CIMB Bank Bhd, has announced plans to purchase 16 properties from the Employees Provident Fund (EPF) for a total cash consideration of RM209.81 million. This acquisition involves properties currently leased by CIMB Bank from EPF, with the lease agreement originally set to expire on June 30, 2025.

According to BERNAMA News Agency, CIMB Group disclosed in a Bursa Malaysia filing that CIMB Bank executed 16 sale and purchase agreements on April 30, 2025, to acquire these properties, which are integral to its banking operations. Consequently, CIMB Bank has decided to terminate the existing lease agreement with EPF.

The transaction aligns with CIMB Bank's strategic goals, offering a promising profit and loss uplift by 2025. Furthermore, CIMB Bank has committed to repurchasing the remaining eight properties at a pre-determined price if EPF is unable to sell them to third parties, adhering to the terms of the original lease agreement.

Completion of the transaction is anticipated between the fourth quarter of 2025 and the first quarter of 2026, assuming no unforeseen circumstances arise.