Thursday, July 10, 2014

CIMB, RHB and MBSB to merge

The trading of RHB Capital Bhd, Malaysia Building Society Bhd (MBSB) and CIMB Group Holdings Bhd are suspended today. All 3 banks are seeking for approval from Bank Negara for merge. Should the merge takes place, the so called "mega bank" will be the national's largest bank and it will also gear up to be one of the leading banks in the region.

Currently CIMB is the 10th largest bank in ASEAN and Maybank is 4th. Top 3 is controlled by Singaporean banks i.e OCBC, DBS and UOB.

MBSB shown growth of more than 50% in assets last year. Now, it's also heard that Maybank is also viying for RHB group.

Let's see what happens next. I'm more concern on the new name for the "mega bank".

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