RHB to sell Singapore stockbroking business

Datuk Khairussaleh Ramli, group managing director of RHB Banking Group, said that the internal transfer of the capital markets businesses from RHBSS to RHB Bank, Singapore is a natural move to provide a one-stop solution for the banking group’s corporate clients.

PETALING JAYA: RHB Banking Group plans to dispose of its stockbroking business in Singapore by the third quarter of 2020 and consolidate its capital markets and wholesale businesses in the city-state under RHB Bank Singapore.

The decision to exit the stockbroking business was made in view of the increasingly competitive stockbroking environment, which has made the business “no longer viable.”