Kuala lumpur: CIMB Group Holdings Berhad ('CIMB' or 'the Group') today announced the sale of CIMB Thai Bank Public Company Limited's ('CIMB Thai') automotive financing portfolio to Bank of Ayudhya Public Company Limited and its subsidiary ('Krungsri') at a modest premium to adjusted net book value. The sale forms part of the Group's ongoing Forward30 strategic plan to exit non-core businesses while reallocating capital to grow, ensuring sustainable returns and disciplined resource allocation across its ASEAN franchise.

According to BERNAMA News Agency, the portfolio sale marks a key milestone in CIMB Thai's ongoing comprehensive transformation programme, which includes operating model enhancements, branch and cost base optimisation, portfolio rebalancing and repositioning towards higher-return banking segments, such as wealth management and regional wholesale banking.