RETAIL BANKING | Cesar Tordesillas, Thailand

Maybank keen on Thai expansion

Maybank hopes to operate a bank in Thailand, said its president/CEO, Datuk Seri Abdul Wahid Omar.

"As I said before, we are keen to go to Thailand. We do hope to be able to operate a bank. If the opportunity arises, Maybank would expand the banking operations in Thailand nationwide," he stated.

owever, he said, Maybank was not in a hurry to realise that aspiration.

"We do take an opportunistic approach. We are not in a hurry. We want to make sure we have adequate resources, both human and capital," he said.

On the aborted takeover of RHB, Abdul Wahid said: "We really focus on growing organically but at the same time as and when opportunities to look at mergers and acquisitions arise, we are open ... that's when the RHB opportunity comes. We thought that we could create value, if it's structured properly ... if it's valued at agreeable level."

He said the transaction announced at RM10.80 has created a certain expectations in terms of valuation.

"Maybank believes that valuation wouldn't have been value enhancing for its shareholders. The focus remains on building organically. If something comes up, we are always open," he said.

The full sotry is available at Bernama.

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