CIMB Group Holdings Bhd.’s planned sale of its business in the Philippines has drawn interest from local rivals including Bank of the Philippine Islands and Metropolitan Bank & Trust Co., according to people with knowledge of the matter.
Binding bids for the unit are due before the end of the month, the people said, asking not to be identified because the process is private. Other parties have also shown interest in acquiring the assets, the people said.
Malaysia-based CIMB is working with a financial adviser on the potential divestment and reached out to prospective buyers to gauge interest, Bloomberg News reported earlier this month. A deal could value the business at as much as $200 million, people with knowledge of the matter have said.
Considerations are ongoing and there is no certainty of a deal, the people said. A representative for BPI declined to comment, while CIMB and Metropolitan Bank & Trust, known as Metrobank, didn’t respond to requests for comment.
CIMB entered the Philippines in December 2018, and by September 2025 had 10 million customers, according to its website. The lender also has a presence in Indonesia, Singapore, Thailand, Cambodia and Vietnam, as well as some operations in China, Hong Kong and the UK. — Bloomberg