In a nutshell, the CIMB Bank has maintained a level of overall performance that is regarded as satisfactory in terms of the product and service offerings, liquidity, and risk management. This is because both the product and the service can create positive inflows, and because of the high amount of liquid assets, the bank will not have an easy time dealing with liquidity issues. CIMB Bank has improved management and control, enabling it to avoid or resolve challenges associated with credit and liquidity risks. CIMB Bank’s profitability is not satisfying enough since it does not exhibit a consistent rise in net profit.
CIMB Bank may continue to concentrate on expanding its high-yield product offerings, ramping up its cross-selling efforts to achieve higher levels of profitability from its existing client base, and expanding its non-interest income streams. As a result, CIMB Bank must compete with its competitors either by retaining the clients it already has or attracting new ones. CIMB Bank won five awards at the Malaysian e-Payments Excellence Awards (MEEA) in 2016. It is recommended that CIMB Bank “utilize” its competitive advantage to promote its services and the treasury products so that the bank’s profitability will rise back up again. This will allow the bank to expand and improve its overall growth, which will lead to a larger and better overall growth.
CIMB VA value propositions provide corporate clients with the following benefits:
The Capacity To Reconcile Payments As Well As Receivables
Currently, the vast majority of virtual assistants (VAs) in Singapore only permit business users to receive payments from various suppliers and vendors. Still, they do not permit business users to pay these suppliers and vendors. Receivables and payments can be reconciled with CIMB Virtual Accountant’s help for business owners. As a result, this benefits organizations with huge volumes of payments and monies because they efficiently manage their cash flow.
Methodology For The Comprehensive Distribution Of Resources
CIMB VA utilizes a three-tiered structure comprising a Master Account, Group Identifiers, and VA to allow business owners to monitor their account balances in a manner that is either detailed or personalized at a glance. The system gives corporations access to extensive reports regarding their VA structure and status and provides a summary of previous transactions.
There are three distinct approaches to distribution methodology: the Balance Contribution, the Equal Weightage, and the Equal Percentage approaches. In addition, CIMB Virtual Accounts offers a complete allocation strategy that may be used for any transactions carried out on the Master account. This reduces the manual reconciliation and unreconciled receipts, making it possible for corporations to increase their output level.
Capacity For Customers To Serve Themselves
The CIMB VA structure can be established through the CIMB BizChannel platform for even greater ease of use. For these transactions, corporations can enable e-Alerts via email and SMS. Corporate clients can choose between the advanced VA capabilities offered by CIMB or the basic VA. Thus, check out CIMB Business Account Singapore for your needs.
