CIMB to expand BdC operations

KUALA LUMPUR: CIMB Bank is targeting to expand the market share of its bureau de change (BdC) operations by 5% to 10% by year-end via more collaborations and BdC outlets.

CIMB's deputy head of financial services Abdul Karim Lassim told reporters Thursday that the bank was planning to add another 17 outlets to the current 42 BdC outlets.

Last year he said the bank's BdC's business recorded more than one million transactions and over RM1.5 billion in turnover.

Abdul Karim added that the bank was also eyeing a 30% growth in transactions and turnover for the BdC operations this year.