Malaysia: Bank merger frenzy hits after three-way deal inked

Reports say Malaysia’s banking industry is likely headed for a new round of consolidation after CIMB, RHB Capital and Malaysia Building Society launched plans for a three-way merger.

The union between the three groups is expected to combine into a bank that could rival its closest competitor Maybank. In response, industry experts expect Maybank to strike a merger of its own. According to reports, the lender could look to the industry’s two smallest banks, Affin Bank and Alliance Financial group, though experts note that their stakeholders are major forces and any deal would require lengthy and complicated discussions.

Full content: The Star

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