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Digital-only commercial lender CIMB Bank Philippines on Thursday said it was open to going public in the future, but this was not an immediate priority as its near-term target was to be "significantly stronger" after reaching profitability in 2023.According to CIMB Philippines chief executive officer Vijay Manoharan, the bank is open to listing on the Philippine Stock Exchange to onboard more investors, but conditions will have to be right for this to even come into consideration.
CIMB Philippines achieved profitability in 2023, which the bank attributed to the growth in its interest income amid the growth in its loans receivables and fees, and its balance sheet almost doubling since 2022.Sought for his outlook this year, Manoharan said the firm expects profits to "significantly be very much more healthier than last year," adding that "significantly stronger would not be single digits.
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