RHB and AmBank Group call off merger talks

Kuala Lumpur

DISCUSSIONS on a proposed merger between RHB Bank Bhd and AMMB Holding Bhd (AmBank Group) have come to nought as both banking groups could not reach an agreement.

"After much discussion and deliberation, RHB Bank and AmBank Group were not able to reach an agreement on mutually acceptable terms and conditions for the proposed merger," the banks said in a joint statement to the exchange on Tuesday.