CIMB, RHB, MBSB reach merger deal, including share swap

SINGAPORE/KUALA LUMPUR: Malaysia's CIMB Group, RHB Capital Bhd and Malaysia Building Society Bhd (MBSB) have agreed on a merger deal that will create the country's biggest banking group, a source with direct knowledge of the matter said.

The deal will still require approval from Bank Negara Malaysia, the central bank, said the source who asked not to be identified ahead of formal announcement.