Bank Pembangunan, Danajamin receive BNM approval for merger talks

Finance Minister Lim Guan Eng said in his Budget 2020 presentation that Bank Negara is proposing a two-phase restructuring plan for the country’s DFIs to form a new financial institution through the merger of Bank Pembangunan Malaysia Bhd, Danajamin Nasional Bhd, SME Bank and Export-Import Bank of Malaysia Bhd to strengthen the development finance ecosystem

KUALA LUMPUR: Bank Pembangunan Malaysia Bhd (BPMB) and Danajamin Nasional Bhd have been given the green light from Bank Negara to commence negotiations under the first phase of the government's proposed merger of development financial institutions (DFI).

Negotiations between BPMB and Danajamin are expected to be completed within six months, BPMB said in a statement.