CIMB Bank Philippines Chief Executive Officer Vijay Manoharan has been named Banking CEO of the Year at the EPOCH Awards by The Enterprise, a a print and digital business news portal that offers extensive reportage of corporate, economic, financial, and technology news from around the world.
Manoharan is a true maverick that has led the award-winning, digital-only commercial bank since it first landed on Philippine soil back in 2018. He has revolutionized the local banking industry through being the first to introduce 24/7 digital banking and pioneering concepts such as embedded banking, which gave Filipinos a more convenient yet secure alternative to carry out their financial transactions.
He also led CIMB to achieve many other milestones in the country, enabling the Bank to be the first to launch 10-minute account opening, first to offer a free deposit account with high interest rates, and the first to launch an all-in-one digital lending credit line.
The Bank delivered impressive financial results for the first half of 2023 with its revenues growing nearly 240% from its figures in the same period the previous year. This exceptional performance can be attributed to the growth in its loan portfolio, which grew a record-breaking 150% in the aforementioned period. Midway through 2023, its deposit customer count grew 7% from 2022, while loan customers showed a 40% growth from the previous year’s figures.
With five successful years under his stewardship, CIMB Bank PH now has over 7.5 million customers and has become the most-awarded digital only bank in the country with 93 international and local awards and counting, including being cited as the Best Bank in the Philippines for 2023 by Forbes’ World’s Best Banks.
“What makes any team successful is the collaborative effort of many individuals, and I am thankful to all our customers and employees who have been part of CIMB through the years. This achievement wouldn’t have been possible without their unwavering support, and I’m excited to see what else we can achieve together as we continue to pursue our life’s purpose. There is still a lot more to be done as part of our mission to promote financial inclusion in the country and we have great plans lined up that can help us soar even higher this year and beyond,” said Manoharan.
With Manoharan at the helm, CIMB Bank PH continues to be in a strong position to help empower Filipinos to fulfill their life purpose. He is poised to lead the Bank in its next phase of expanding to untapped and underserved markets like overseas Filipinos, and MSMEs and SMEs, as well as going into new strategic partnerships and new product offers like digital insurance and remittance.
To know more about CIMB, visit cimbbank.com.ph.