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- The Star

14 August 2008
CIMB to invest RM5mil in cafe banking outlets
The Star Online

KUALA LUMPUR: CIMB Bank Bhd will invest up to RM5mil in 10 cafe banking outlets in collaboration with Old Town International Sdn Bhd within two years.

Head of consumer sales and distribution Sulaiman Mohd Tahir said the banking group was the first to integrate its services with food and beverage outlet OldTown White Coffee cafe and would invest about RM300,000 to RM500,000 in each outlet.

“We are looking at several locations in the Klang Valley, Malacca and Penang, including our new headquarters, Menara Bumiputra-Commerce in Kuala Lumpur, as well as high traffic commercial areas such as Bandar Utama,” he told reporters after the launch of CIMB cafe banking yesterday.

CIMB cafe banking outlets would be equipped with self-service terminals comprising automated teller machines, cash deposit machines, cheque deposit machines and online banking portal CIMB Clicks to enable customers to “eat and bank” at one convenient location, said Sulaiman.

“We are pleased to take banking convenience to the next level by offering customers an alternative to the traditional branch environment. Busy customers can now save time by visiting our ‘eat & bank’ outlets and savouring the delights of OldTown White Coffee cafe,” he said.

Besides having an in-house TV system promoting the bank’s products, the outlets will have financial advisors on the ground to assist customers in buying wealth management products or applying for loans, he said.

On concerns over a potential slowdown in loans growth for banks this year, Sulaiman said it was too early to see the impact. “We are still on track to achieving our targeted loans growth of 20% for the year,” he said, adding that the actual impact on the balance sheet would probably be felt early next year.

Since the opening of its first cafe banking outlet at Menara Hap Seng in Kuala Lumpur on April 3, the cafe has had an average of 300 customer visits daily.

CIMB has a customer base of 4.5 million people across its 366 branches nationwide.

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