CIMB RHB

Banks regroup as Malaysian mega-merger collapses

CIMB, RHB Capital and MBSB’s planned $20 billion merger flounders but RHB still wants to bulk up.

CIMB Group, RHB Capital and Malaysia Building Society MBSB were mulling their options on Tuesday after their $20 billion mega-merger has collapsed, according to well-placed sources.

Confirmation of the three-way merger’s collapse may come as soon as this week, people familiar with the matter told FinanceAsia.

RHB, which has been an acquisition target several times before in 1998 and 2011, wants to bulk up to preserve its independence and may try to pursue a two-way merger with smaller MBSB once the dust settles, people familiar with the bank’s thinking said. MBSB is pursuing its own banking licence.

Malaysia's...

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