CIMB denies plans to privatise Indonesian banking arm CIMB Niaga

KUALA LUMPUR: CIMB Group Holdings Bhd has denied reports that it plans to privatise its Indonesian banking subsidiary, PT Bank CIMB Niaga Tbk.

CIMB Group said no decision has been made and no formal proposal has been tabled regarding the potential privatisation of CIMB Niaga.

"CIMB Niaga remains an integral part of the group's regional footprint, and the group remains committed to its operations in Indonesia," it said in a statement.

CIMB Group added that it would continue to comply with all applicable regulatory guidelines, including minimum public shareholding or free float rules, in a timely and structured manner.