RHB on track with digital bank deposit initiative

The group is expected to roll out its maiden digital bank deposit product by the end of this year, before expanding the segment to introduce financing offerings later on, said Kenanga Research. — Bloomberg

PETALING JAYA: RHB Bank Bhd’s upcoming digital bank venture with Axiata Group Bhd’s digital arm, Boost Holdings Sdn Bhd, appears on track for launch, with the group expecting to pass Bank Negara’s operational readiness review in this final quarter of 2023.

With that, the group is expected to roll out its maiden digital bank deposit product by the end of this year, before expanding the segment to introduce financing offerings later on, according to Kenanga Research, citing its recent meeting with RHB Bank’s management.