CIMB Singapore and Wing Bank sign MoU to boost cross-border finance

The partnership aims to enhance financial connectivity within ASEAN.

CIMB Singapore and Wing Bank (Cambodia) Plc signed a Memorandum of Understanding (MoU) to strengthen cross-border financial services and deepen economic collaboration between Singapore and Cambodia.

The partnership aims to enhance financial connectivity within ASEAN by combining CIMB Singapore’s regional expertise with Wing Bank’s established presence in Cambodia.

It will offer seamless financial solutions to a wide spectrum of customers, including commercial enterprises, small and medium-sized enterprises (SMEs), and high-net-worth individuals (HNWIs), the statement said.

Under the partnership, the two banks will jointly provide a suite of banking services, including deposits, loans, remittances, and trade finance.

A key focus will be on empowering Cambodia’s SMEs, which represent 98% of businesses, account for 70% of employment, and contribute 58% of the country’s GDP, the companies noted.

The collaboration also seeks to serve high-net-worth individuals by combining CIMB Singapore’s wealth management hub capabilities with Wing Bank’s local market knowledge to deliver tailored investment solutions for Cambodian clients.

The partnership, the companies said, aims to help bridge the two fast-developing ASEAN economies, contributing to financial innovation, inclusion, and sustainable growth across the region.

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