RHB & AmBank in Merger Talks
Malaysia’s RHB Bank and AMMB Holdings (AmBank) are starting merger talks to form a group worth about US$9 billion. RHB and AmBank have received the Malaysian central bank go ahead to start the merger negotiations.
“Malaysia’s RHB Bank and AMMB Holdings (AmBank) are starting merger talks to form a group worth about US$9 billion.”
The potential merger would reinforce RHB’s ranking as the fourth largest Malaysian bank by assets behind Maybank, CIMB Group Holdings and Public Bank. AmBank is currently the country’s sixth biggest bank.
News Source: Reuters
About RHB Bank
Pursuant to the Group Corporate Restructuring Plan, RHB Bank Berhad is now the ultimate holding company of the RHB Banking Group effective 13 June 2016. It has been listed (in place of RHB Capital Berhad, the former ultimate holding company of RHB Banking Group) on the Main Market of Bursa Malaysia Securities Berhad on 28 June 2016. RHB Bank is the country’s oldest and first local bank with the incorporation of the Kwong Yik (Selangor) Banking Corporation (Kwong Yik Bank) in July 1913. The Group is involved in commercial banking and finance related business, Islamic banking, investment banking, stock broking, leasing, offshore banking, offshore trust services, property investment, general insurance, unit trust management, asset management and nominee and custodian services.
- Origin: Kuala Lumpur, Malaysia
- Total Assets: RM189.1 billion
- Employees: 17,000
Official Website: https://www.rhbgroup.com
News & Media: Press Release
Updated on 8th August 2016