2008: CIMB Group entered into an agreement for a 19.99% stake in Bank of Yingkou adding mainland China to the Group's network. In the same year CIMB Group undertook the merger of PT Bank Niaga TBK with PT Bank Lippo Tbk to create the sixth-largest bank in Indonesia. CIMB Group and the Principal Financial Group launched CIMB-Principal Islamic Asset Management also in that year. Lastly, CIMB Group entered into an agreement with Financial Institutions Development Fund to purchase a 42.13% stake in Bank Thai Public Company.