Hong Leong Finance wants to find a partner that will help it apply technology to its lending decisions.
Although a sticky situation for you to be in, get a commitment of repayment from them but expect the very high possibility of bad debts.
Talks between the two closely held banks are advanced, though they could still be delayed or fall apart - the merger will create a lender with about 82 billion riyals in assets, the sixth-largest in the country.
The lenders would make a so-called "credit bid" by using their senior secured notes in the Asia business rather than cash, and win ownership of the unit during an auction next month in New York.
The Sunday discussion by the board follows two weeks of turmoil over the bank's leadership.
The so-called "bad bank" will be based on a branch of Otkritie, which was rescued by the central bank in August, and will function as a fund.