BANKING consolidation in corporate Malaysia has not been smooth sailing. While there have been successful merger and acquisition (M&A) activities, there have also been unsuccessful attempts to consolidate.
The notable fallout involved a three-way merger between CIMB Group
Holdings Bhd, RHB Capital Bhd (now RHB Bank Bhd) and Malaysia Building Society Bhd (MBSB) in 2015 to create the biggest banking group in the country and one of the largest banking entities in South-East Asia. With combined assets estimated at RM613bil, the merged entity would have overtaken Malayan Banking Bhd (Maybank) as the largest banking group in the country.
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