Malaysian banking giant takes shape

RHB, CIMB and Malaysia Building Society seek central bank approval for three-way merger to create regional giant.

Malaysian banking giant takes shape

CIMB, RHB Capital and Malaysia Building Society have hammered out terms for a three-way merger, moving a step closer towards the creation a Malaysian banking giant.

The banks had entered into a 90-day exclusivity period in July and, having agreed terms, are now seeking Bank Negara approval. The merger, valued by Bloomberg at $22.3 billion, will transform the three into Malaysia’s largest bank and will also result in the creation of an Islamic mega...

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