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