^

Banking

CIMB, 2 others forming mega-bank

The Philippine Star

MANILA, Philippines - CIMB Group Holdings Bhd, RHB Capital Bhd and Malaysia Building Society Bhd is seeking the approval of the Bank Negara Malaysia (BNM) to form a mega-bank with market capitalization of $28.3 billion. Reports likewise indicate that the Employees Provident Fund will play a significant role in the merger as it owns big stakes in all three firms. Meanwhile, CIMB Bank completed Malaysia’s first live bank payment obligation (BPO) transaction with receivables financing. This also marks the first cross-border collaboration involving inter-bank BPO between CIMB Bank and China CITIC Bank. With the completion of this maiden BPO transaction, CIMB Bank has become the 11th banking group worldwide to complete a BPO transaction.

 

BANK

BANK AND CHINA

BANK NEGARA MALAYSIA

BHD

BPO

CAPITAL BHD AND MALAYSIA BUILDING SOCIETY BHD

CIMB

EMPLOYEES PROVIDENT FUND

GROUP HOLDINGS BHD

MALAYSIA

TRANSACTION

  • Latest
Latest
Latest
Are you sure you want to log out?
X
Login

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

FORGOT PASSWORD?
SIGN IN
or sign in with
no session for state
no session for code
no session for id_token
no session for user