CIMB Singapore and Wing Bank Forge Strategic Partnership to Boost Cross-Border Financial Services Between Singapore and Cambodia

Singapore/Cambodia, 2^nd JUNE  2025 – CIMB Singapore and Wing Bank (Cambodia) Plc have entered a strategic partnership through a Memorandum of Understanding (MoU) to enhance cross-border financial services and deepen economic collaboration between Singapore and Cambodia.

This partnership represents a significant milestone in strengthening financial connectivity within ASEAN, leveraging CIMB Singapore’s regional expertise and Wing Bank’s local leadership to serve a broad spectrum of clients—from commercial enterprises and SMEs to high-net-worth individuals.

“Teaming up with CIMB Singapore allows us to bring world-class financial solutions to our customers while deepening Cambodia’s economic integration with Singapore,” said Dr. Dmytro Kolechko, CEO of Wing Bank. “This marks a pivotal step toward greater financial inclusion and cross-border opportunity.”

The alliance combines CIMB Singapore’s extensive regional expertise from its Singapore hub with Wing Bank’s deep-rooted presence in Cambodia, aiming to deliver seamless financial solutions for commercial banking clients, SMEs, and high-net-worth individuals.

Victor Lee Meng Teck, CEO of CIMB Singapore and CEO of Growth Markets, added: “Our collaboration with Wing Bank reflects CIMB’s commitment to advancing financial inclusion and economic progress across ASEAN. Together, we will unlock new value for customers and strengthen the Singapore-Cambodia financial corridor.”

The collaboration will deliver seamless, tailored banking solutions, including deposits, loans, remittances, and trade finance to support growing demand from cross-border businesses. A key focus is to empower Cambodian SMEs, which form the backbone of Cambodia’s economy—accounting for 98% of businesses, 70% of employment, and 58% of GDP.

In 2024, Cambodia-Singapore trade surged to USD 103 million according to General Department of Customs and Excise of Cambodia–an impressive growth of 101% year-on-year, and a clear sign of intensifying economic synergy. This partnership will further streamline financial services, enabling smoother cross-border transactions and business growth.

For high-net-worth individuals, the partnership will leverage CIMB Singapore’s hub—a leading ASEAN wealth management center—alongside Wing Bank’s local market expertise to offer sophisticated investment and wealth management solutions tailored to Cambodia’s evolving financial landscape.

This landmark alliance sets the stage for a new era of Singapore-Cambodia financial integration, driving innovation, inclusion, and sustainable growth. By bridging two dynamic economies, CIMB Singapore and Wing Bank are paving the way for a more interconnected and prosperous ASEAN future.

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About Wing Bank (Cambodia) Plc

Wing Bank (Cambodia) Plc is one of Cambodia’s fastest-growing digital banks, providing convenient access to financial and banking services across Cambodia. Wing Bank has offered comprehensive finance and banking services through its extensive network of agents, bank outlets, and a multi-function mobile app. Over 600 businesses and government institutions, along with 170,000 merchants, rely on Wing Bank for their operations. The bank is dedicated to promoting financial, gender, and digital inclusion, ensuring all Cambodians can benefit from secure and convenient digital finance and banking solutions. For more information: www.wingbank.com.kh

About CIMB

CIMB is a leading ASEAN-focused bank headquartered in Kuala Lumpur, Malaysia. It is the fifth largest banking group by assets in ASEAN. The Group is present in eight ASEAN nations (Malaysia, Indonesia, Singapore, Thailand, Cambodia, Vietnam, Myanmar and Philippines). CIMB is known for its extensive retail branch network, comprising over 1,080 branches across the region. The bank employs around 33,000 staff and serves approximately 28 million customers. Singapore is one of its key markets with approximately 1,000 employees serving clients across consumer, commercial, wholesale and transaction banking products and services.

CIMB is committed to sustainability, integrating environmental, economic, and social considerations into its business practices. For more information: www.cimb.com.sg