RAM Ratings assigns AA1 final rating to CIMB Bank’s RM10b subordinated debt

KUALA LUMPUR, Aug 29 — RAM Ratings has assigned a final AA1 long-term rating to CIMB Bank Bhd’s RM10 billion Tier-2 Subordinated Debt Programme, which is Basel 111-compliant.

In addition, the bank’s long-term financial institution ratings have been reaffirmed at AAA and P1, with a stable outlook, RAM Ratings said in a statement today.

The rating agency said CIMB Bank’s financial institution ratings are supported by its systemic importance as the third-largest commercial bank in Malaysia, with entrenched business positions in retail and wholesale banking.

The ratings also took into consideration the growing CIMB franchise in the Asean region, it said. — Bernama