KUALA LUMPUR (April 7): CIMB Group Holdings Bhd (KL:CIMB) plans to leverage Asean’s growing affluent population to double its wealth assets by 2030 and boost non-interest income to 33%-34%.

According to a statement by CIMB on Tuesday, Asean’s affluent population is expected to expand 5%-6% annually, reaching 65%-70% of the total population by 2030. The bank defines the affluent segment as customers with assets under management of at least RM250,000. 

CIMB plans to achieve this by enhancing advisory services, upgrading digital tools, forming strategic partnerships, and expanding its private wealth services in Indonesia and Malaysia.

It is enhancing advisory services through deeper insight-driven portfolio reviews, curated wealth events, and chief investment officer-backed insights, and personalised relationship manager advisory offering both conventional and Islamic products. 

The group is also boosting digital tools with AI, real-time portfolio tracking, and tailored recommendations, and expanding through partnerships to provide specialised wealth, protection, and legacy solutions.

CIMB group consumer banking CEO Haniz Nazlan

“Across Asean, the affluent population is growing at a robust pace, driven by rising incomes, entrepreneurship and intergenerational wealth creation, and their financial needs are becoming increasingly sophisticated. CIMB aims to deepen relationships with high-value clients through an integrated offering spanning wealth management, deposits, financing and investment advisory. 

“With its strong presence and retail franchise across key Asean markets, CIMB comes from a position of strength and is well-positioned to capture the growth in the affluent wealth segment. Our ambition is to grow our wealth assets under management two-fold and deliver stronger wealth and cross-sell revenue by 2030, enabling us to sustain a non-interest income contribution between 33%-34%,” CIMB group consumer banking chief executive officer Haniz Nazlan said in the statement.

CIMB is also leveraging Singapore as a regional wealth hub to support cross-border and global investment solutions while providing treasury services for multinational clients. It said this enhances its ability to serve affluent customers with more sophisticated, international investment needs. 

The group, which launched private wealth services in Indonesia in January 2026, plans to expand to Malaysia by mid-2026, with other markets to follow, positioning itself to capture growth in high-potential markets where demand for professional wealth advice is rising rapidly.

CIMB said Islamic wealth markets in Indonesia and Malaysia are growing faster than conventional ones. Indonesia, in particular, stands out as a key long-term opportunity due to strong economic fundamentals, a growing middle- and upper-income population, and rising demand for professional wealth advice.

By strengthening its wealth capabilities in Indonesia, CIMB aims to capture this growth, deepen customer relationships, and increase fee-based income.

PT Bank CIMB Niaga Tbk president director and CEO Lani Darmawan

“Indonesia remains a structurally attractive market over the medium to long term, particularly in the affluent segment where wealth creation continues to outpace regional averages. Our strategy is to scale selectively, prioritising profitability, capital discipline and client quality over volume growth. The launch of CIMB Private Wealth is a strategic initiative for CIMB Niaga to support customers in building sustainable wealth,” PT Bank CIMB Niaga Tbk president director and CEO Lani Darmawan said in the statement.

CIMB’s initiatives aim to boost fee-based income by growing investment and advisory revenues, increasing cross-selling of financing, investments, and protection products, and strengthening deposits.

Expanding into the affluent wealth segment is a key part of its Forward30 strategy to build a stable funding base and enable higher-value cross-selling. As of December 2025, total deposits rose 5.4% to RM524.4 billion, and current account saving account (Casa) balances grew 1.6% to RM224.1 billion, with a Casa ratio of 42.7%.

With Asean’s wealth market still underdeveloped, CIMB is leveraging its regional network and expanded offerings to capture growth, increase non-interest income, and drive long-term profitability.