When Zafrul Aziz became chief executive of CIMB in 2014 he embarked upon a transformation plan called T18, or Target 2018. Although CIMB was at the time the fourth or fifth largest bank in southeast Asia, it was not among the leaders in terms of profitability, return on equity, cost-to-income ratio or capital.
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Zafrul Aziz, CIMB |
“We were down there because we were in expansionary mode,” Zafrul says.
