3 April 2025
Phnom Penh: CIMB Bank PLC (CIMB Bank), a leading international bank in Cambodia and a subsidiary of CIMB Group, today announced the appointment of Mr. Hong Cheap as its new Chief Executive Officer (CEO), effective April 1, 2025. Mr. Hong Cheap succeeds Mr. Bun Yin, who has retired from his CEO role after a distinguished tenure.
Mr. Hong Cheap brings a wealth of knowledge and experience in banking sector in Cambodia to his new role. He was most recently Acting CEO and has been an integral part of CIMB Bank since 2013, starting as Head of Risk for five years before being appointed as Head of Commercial Banking in 2018. In 2021, he led both the Consumer Banking and Commercial Banking segments. Prior to joining CIMB Bank, Mr. Hong Cheap was the Chief Risk Officer for an international bank in Laos.
With his strong background, Mr. Hong Cheap possesses deep insights into the Cambodian market and the evolving needs of our customers. His leadership is instrumental in driving the bank's transformation and next phase of growth while maintaining robust asset quality, enhancing deposit proposition, improving operational capabilities and productivity, and ultimately increasing profit for the Bank. As part of CIMB Group’s Forward30 plan, Cambodia has been streamlined under the Group’s Growth Markets segment, a new segment created for businesses undergoing transformation.
Tan Sri Mohd Nasir Ahmad, Chairman of the Board of Directors of CIMB Bank Cambodia and CIMB Group, headquartered in Malaysia, warmly welcomed and congratulated Mr. Hong Cheap on his appointment. He stated, "We are delighted to welcome Mr. Hong Cheap as the new CEO of CIMB Bank Cambodia. His extensive experience and deep understanding of the Cambodian banking landscape make him an ideal leader to steer CIMB Bank Cambodia towards continued growth and success. On the back of his past 12 years experience with CIMB Bank, we have full confidence in his ability to sustain our banking business in Cambodia sustainably and responsibly."
Tan Sri Mohd Nasir Ahmad also acknowledged the significant contributions of the outgoing CEO, Mr. Bun Yin. He expressed, "We extend our most sincere gratitude to Mr. Bun Yin for his dedicated service, invaluable contributions, and exemplary leadership to CIMB Bank over the years. His leadership has been instrumental in establishing CIMB Bank as a leading financial institution in Cambodia. It is my great pleasure to announce that Mr. Bun Yin will remain in CIMB Bank PLC’s Board as a Non-Independent Non-Executive Director following his retirement from the executive role."
Mr. Novan Amirudin, Group CEO of CIMB Group, also shared his perspective on this important transition. He commented, "Following a thorough succession review and selection process, I am pleased to announce the appointment of Hong Cheap as CEO of CIMB Bank Cambodia. Hong Cheap will lead CIMB Cambodia into its next phase of transformation, driving our evolution into a more focused bank with clear, differentiated value propositions that leverage the strength of our ASEAN footprint. We are confident that Hong Cheap’s proven track record, strong execution capabilities, and deep understanding of the Cambodian market align perfectly with our Forward30 ambitions.
Furthermore, Mr. Novan Amirudin expressed his appreciation and well wishes to Mr. Bun Yin, stating, "Bun Yin has been an outstanding member of our leadership team and on a personal basis, I am grateful for his support and counsel. Please join me in thanking Bun Yin for his contributions and exceptional service as CEO of CIMB Bank Cambodia."
Upon his appointment, Mr. Hong Cheap expressed his gratitude and commitment to the Board of Directors, Group CEO, Management, and all staff. He emphasized, "I am deeply honored to be appointed as the CEO of CIMB Bank in Cambodia giving me opportunity to work closely with the best and dynamic team. I am committed to building on the strong momentum we have achieved over the past 15 years and leading the bank towards even greater heights. My focus will be on advancing our customers and society by strengthening our customer relationships, driving innovation, developing our staff members, and contributing to the economic growth of Cambodia."
CIMB Bank has established a strong presence in Cambodia over the past 15 years, offering a comprehensive range of banking services and products to consumer, commercial, corporate, transaction banking, and financial institution clients. With a network of 14 branches and nearly 500 dedicated staff, CIMB Bank remains a key player in the Cambodian financial sector.
