A PYMNTS Company

Malaysia: RHB, AmBank in merger talks to form bank worth $9 billion

By  |  June 4, 2017

Malaysia’s RHB Bank and AMMB Holdings are starting merger talks to form a group worth about $9 billion, in what is likely to be the nation’s biggest banking deal.

RHB and AmBank have received the nod from the Malaysian central bank to commence the merger negotiations, they said in a joint statement on Thursday. The transaction is expected to be an all-share deal and the two banks have until August 30 to exclusively discuss a deal, they said.

A 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.

Full Content: The Star

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.