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Saturday, August 17, 2019

CIMB Bank x GCash Announces 500,000th Client

Since its launch early this year, CIMB Bank Philippines happily announced that it has reached its 500,000th clients in such a short span of time. This is also due to the strong partnership between CIMB Bank and GCash.



"Let me start by saying that I am happy to be in Manila," said Tengku Dato' Sri Zafrul Aziz, Group CEO CIMB Group. "You see, in January this year we have launched CIMB in the Philippines and now I am happy to say that we have surpassed that target margin well ahead of time. CIMB Bank PH is surely the fastest growing bank in ASEAN, a wonderful achievement, and a strong testament of things that can be achieved in the regime of digital-only banks. We are motivated by this and will continue to innovate for our customers."


CIMB Bank PH and GCash also announced that the GSave bank account will be exclusively offered only on the GCash platform. The two companies will be working together to make added suites of financial services products available to GCash customers in the future.

"The partnership with GCash was central to us achieving this milestone. It is a live case study of bank-tech partnerships, a combination of banking expertise and technology platform plays, and the opportunities it allows both parties to access. I look forward to developing more propositions with GCash to further establish our mobile banking presence in the Philippines," added Zafrul.


"The acquisition of 500,000 users is a clear testament that the partnership between GCash and CIMB Bank through GSave is a success. We welcome this achievement and the deepening of our collaboration with CIMB Bank and assure our users that we will continue to provide more innovative services to address the banking and financial needs of Filipinos who aspire for financially better lives for their families," said President and CEO of GCash, Anthony Thomas.

With GSave, users are not required to have an initial deposit or maintaining balance or even have transaction fees. This removes the idea that opening a savings account is difficult especially to ordinary Filipinos. GSave aims for financial inclusivity.

GSave also offers an interest rate of 3% per annum which is more than what the banks here in the Philippines offer.


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