RHB-AmBank talks on all-share merger get central bank nod

Kuala Lumpur

MALAYSIA'S central bank has approved the commencement of negotiations between RHB Bank and AMMB Holdings Bhd (AmBank group) for a proposed merger, which, if successful, would lead to the creation of the fourth largest banking group by asset size in the country.

RHB and AmBank said in a joint statement to the exchange on Thursday: "It is envisaged that the transaction will effectively be an all-shares merger."