AmBank Group CEO Datuk Sulaiman Mohd Tahir said that a quarter-on-quarter basis,
KUALA LUMPUR: AMMB Holdings Bhd
said both itself and RHB Bank Bhd will submit to the authorities on whether or not it will proceed with the merger by the end of August or beginning September.
Both banks are in negotiations stage now for the merger, said AMMB group chief executive officer (CEO) Datuk Sulaiman Tahir.
"We negotiate well and hopefully things are ironed out and we will then come back to the market late August or early September," he told a press conference.
"After August it will be non exclusive means that AmBank or RHB can talk to any other parties. This is what it means," he added.
He said if the merger happens, it would provide economies of scale for both banks and give AmBank an overseas presence.
"It's highly complementary for both parties," he said.
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