KUALA LUMPUR: AMMB Holdings Bhd is hopeful that it can close its merger talks with RHB Group on a positive note by the end of its exclusivity deadline, on August 30, 2017. Speaking to the media after the conclusion of its annual general meeting (AGM) earlier this morning, AmBank Group chief executive officer Datuk Sulaiman Mohd Tahir said the potential merger will have massive growth benefits for both entities. “We currently hold the exclusive discussion rights with RHB until 30th August, however both parties are allowed to speak to others from the end of August to December this year,” said Sulaiman. “If the merger were to take place; it will enable us to stand on par with the two banking groups in the country which are Maybank Group and CIMB Group,” he said. If it takes place, the merger would create the country’s fourth largest bank by asset size.

Source: New Strait Times July 31, 2017 06:33 UTC