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RETAIL BANKING | Roxanne Uy, Singapore
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Asian bankers reveal the secret to mitigate short-term profitability pressures

Check out what CIMB, DBS, and RCBC do to keep raking in money.

ABF: As more banks increase footprint across Asia through expansion, how can one keep profitability in check?

CIMB Bank: Renzo Viegas, Group Deputy Chief Executive Officer and Head of Consumer Banking
In line with our mission to be the universal bank for ASEAN, we are focused in delivering excellent cross border services and expanding our presence in the ASEAN region. We want to enable ASEAN customers to look cross border, to invest wider and to trade more with one another.

In the midst of our expansion quest, we are always mindful of the need to reap clear synergies when we enter into a new market or acquire a new business.

These synergies will help mitigate any short term profitability pressures as we would typically need to incur set-up or integration costs at the onset. It is also important to be very clear on our plan and objectives from the start when setting up a new business or entering a new market. 

DBS Bank: Jeremy Soo, Managing Director and Head, Consumer Banking Group (Singapore)
We have to be even more innovative in the way we increase customer touchpoints.

For example, we introduced compact branches to serve customer needs in heartlands and tie up with partners like SingPost to expand banking services to even more physical outlets without increasing the number of branches.

We also implemented even more self-service banking touchpoints such as ATMs, cash deposit bag machine and cheque deposit machine.

RCBC: Ismael Sandig, Senior Executive Vice President - Retail Banking Group
If one considers the branch as a profit center, it must have its own individual P&Ls.

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