AMMB hopes to reach merger deal with RHB Bank by September


KUALA LUMPUR: AMMB Holdings Bhd hopes to reach an agreement with RHB Bank Bhd regarding the merger of both entities and send the merger papers to the relevant authority by September.

AMMB Holdings Bhd group chief executive officer Sulaiman Mohd Tahir said talks were still ongoing and both parties received an exclusive negotiations period from Bank Negara Malaysia (BNM), which would end on Aug 31.

“As per BNM’s approval, both parties have until December to conduct negotiations, but after August, it will no longer be exclusive and they can talk to other parties as well,” he told reporters after the company’s annual general meeting here today.