CIMB Bank to buy 16 leased properties from EPF for RM210m

CIMB Bank Bhd will purchase 16 properties it currently leases from the Employees Provident Fund (EPF) for RM209.81 million in cash, under a sale and leaseback deal expiring June 30, 2025.

Spread across multiple states, the properties will continue to support CIMB’s banking operations.

The bank may also repurchase the remaining eight properties if EPF cannot sell them to third parties. The acquisition, funded internally, is subject to regulatory approvals and is expected to complete between Q4 2025 and Q1 2026.

EPF, a major CIMB shareholder, holds a 17.78% stake in the group. –TMR

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