CIMB to become universal banking entity under RM5.3bil deal

The CIMB banking group will emerge as Malaysia's first universal banking entity with its investment banking business being integrated with that of Commerce Asset-Holding Bhd's (CAHB) commercial banking arm, Bumiputra-Commerce Bank Bhd (BCB). 

Under the RM5.3bil deal, CIMB's investment banking business will be taken private and its shareholders given an option to either receive RM5.50 a share in cash or new CAHB shares valued at RM4.80 each.