Malaysia’s top banks target RHB
Weeks after Carlyle and TPG reportedly teamed to bid for a 25% stake in Malaysian lender RHB Capital, top Malay banks Maybank and CIMB are each looking to make an acquisition bid for the asset, potentially creating the largest banking institution in Southeast Asia by value. According to the Malaysian Star, RHB and domestic regulators have given the two banking groups the go-ahead to engage in negotiations with RHB, which CIMB’s CEO said has not yet begun.
RHB, which may be worth up to MYR20 billion ($6.65 billion), is Malaysia's fifth-largest banking institution. If combined with Maybank or CIMB, the resulting entity would supplant Singapore's DBS as the...
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