RETAIL BANKING | Tony Chua, Malaysia

Maybank remains uninterested in RHB deal

RHB said a potential merger with Maybank or other lenders could be considered if valuations are right.

Malaysia’s top lender Maybank said on Friday there was no change in its views on a merger with rival RHB Capital , after the bank scrapped a plan last month to acquire its smaller competitor.

Maybank chief executive Wahid Omar said it had not been advised of any changes that would allow it to revisit the RHB merger proposal.

CIMB and Maybank called off separate merger plans with RHB last month after Abu Dhabi Commercial Bank sold its 25% stake in RHB to its sister company Aabar at RM10.80 per share.

Analysts said the price, which compares to a current market price of RM9.11, had set a benchmark for any merger deal which had probably deterred CIMB and Maybank.

View the full story in Free Malaysia Today.

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