You are here

Malaysia's CIMB chairman says no decision yet on bank merger with RHB, MBSB

cimreu12.jpg
The chairman of CIMB Group on Wednesday said no decision has been made on a proposed three-way merger that would create Malaysia's biggest bank, a day after people close to the deal told Reuters the merger was nearing collapse.

[KUALA LUMPUR] The chairman of CIMB Group on Wednesday said no decision has been made on a proposed three-way merger that would create Malaysia's biggest bank, a day after people close to the deal told Reuters the merger was nearing collapse.

The merger of CIMB, RHB Capital Bhd and Malaysia Building Society Bhd (MBSB) would have formed a banking group with assets of about US$190 billion, eclipsing Malayan Banking Bhd and making it Southeast Asia's fourth-biggest bank.

"It has not been called off because there has been no announcement," Nazir Razak said at the launch of a report on corporate strategy in the Association of Southeast Asian Nations.

The three banks will make an announcement on the merger s"very soon", he said.

REUTERS

sentifi.com

Market voices on:

grab

Receive $80 Grab vouchers valid for use on all Grab services except GrabHitch and GrabShuttle when you subscribe to BT All-Digital at only $0.99*/month.

Find out more at btsub.sg/promo

Powered by GET.comGetCom