Upskilling initiative part of bank's major efforts to improve employees' lives
CIMB Group Holdings Bhd is committing over RM100 million for 2025 to upskill employees in artificial intelligence and other future skills.
In a statement, the Malaysia-headquartered bank said the commitment aims to accelerate investment in training and development, particularly in future skills such as digital, AI, data, and sustainability.
"The Group is committed to equipping its workforce with the tools and capabilities needed to stay competitive and future-ready," CIMB said in the media release.
The investment comes after the bank logged 2.66 million hours of learning focused on digital, data, and AI skills as part of its commitment to upskill employees in these areas.
It also comes amid previous warnings that half of Malaysia's workforce needs to be retrained amid the growing use of AI. Last year, findings from SEEK showed that 44% of Malaysians are already using generative AI at work, matching the adoption rate in Southeast Asia.
The massive training investment is also part of the organisation's range of initiatives to ensure that it fosters a workplace where employees can thrive and grow.
It also offers its permanent employees in Malaysia compensation above the national living wage threshold of RM3,100 per month.
"This commitment fully supports the Ministry of Finance's Government-Linked Companies (GLC) Empowerment and Reform ("GEAR-uP") initiative in championing equitable, market-based compensation practices," the bank said.
Malaysia's GEAR-uP initiative entrusts GLCs and Government-Linked Investment Companies to go beyond capital investments and lead by impactful action to improve the lives of employees.
Novan Amirudin, Group Chief Executive Officer of CIMB Group, said they are supportive of the GEAR-uP initiative to "raise the floor" of wages.
"Our approach to compensation goes beyond salaries which includes holistic rewards, equitable remuneration structures, and allowances that reflect the contributions and value of our people," Amirudin said.
CIMB also offers a flexible benefits programme, flexible working arrangements, and other benefits such as counselling, targeted financial assistance, and preferential loan rates.
It also has Signature Leadership Programmes, which aim to develop agile leaders across all levels, and a personalised career development platform that helps internal mobility, skills assessment, and long-term career planning.
"We strive to be an organisation that not only empowers our employees professionally but also supports them personally to ensure they succeed on both fronts. When our employees thrive and grow, so does the organisation and society benefits as a whole," Amirudin said.