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Several issues have been raised, including politics and the bank's financial status, after it was announced that CIMB Group of Malaysia had acquired 42.13 per cent of the shares in the small bank.

But who is CIMB Group?

The following is initial information about Commerce International Merchant Bankers Group (CIMB Group) and its holding firm, Bumiputra-Commerce Holdings (BCHB).

CIMB is not new in the Thai market. A few years ago the group set up CIMB-GK Securities (Thailand), a stock brokerage located in Q House Lumpini Building on Sathorn Road. It bought a brokerage licence from another local firm. But the securities firm is BCHB's only presence in Thailand so far.

BCHB, Malaysia's second-biggest bank, was formerly known as Commerce Asset-Holding. The group's principal activity is providing consumer banking, which includes retail, business and direct banking, along with credit cards, consumer sales and distribution.

BCHB also provides corporate and investment banking, which comprises corporate finance, corporate banking, international banking and transactional services, equity capital markets and other related services.

The group is involved in providing commercial banking. Other activities include providing treasury activities, insurance businesses, fund management, unit trust activities and support services.

BCHB is expanding across Asia as slowing economic growth and rising prices at home threaten demand for loans. Competition has also increased after investors, including Australia & New Zealand Banking Group, bought stakes in Malaysian lenders.

The group operates in Malaysia, Indonesia and other countries. It is headquartered in Kuala Lumpur and employs 25,600 people.

Yesterday, BCHB, which offers banking services through its CIMB brand, fell in Kuala Lumpur trading on concern it will take years to make money from a takeover of BankThai that may cost 1.9 billion ringgit (Bt19.4 billion).

BCHB on May 9 reported a net profit of M$535 million for the first quarter, 10 per cent higher than the M$486 million earned in the previous three months. Revenues and profit before tax were up 2 per cent and 1 per cent to M$2.019 billion and M$749 million, respectively. Its net earnings per share of 15.9 sen was up 11 per cent.

The annualised net return on equity for the quarter was 13.6 per cent, against 13 per cent in Q4/07.