Kuala Lumpur – We refer to the announcement made on 31 May 2011 in relation to the possible merger of the businesses of Malayan Banking Berhad ("Maybank") and RHB Capital Berhad ("RHB Capital").
In light of recent developments and following further deliberations, the Board of Directors of Maybank has decided not to pursue the possible merger at this juncture.
The Maybank Group is Malaysia’s regional financial services leader with an international network of over 1,750 offices in 16 countries namely Malaysia, Singapore, Philippines, Brunei Darussalam, Indonesia, Vietnam, Cambodia, Thailand, Papua New Guinea, Hong Kong SAR, People's Republic of China, Bahrain, Uzbekistan, Pakistan, India, Great Britain and the United States of America. The Group offers an extensive product and service range, which includes commercial banking, investment banking, Islamic banking, stock broking, insurance and takaful, asset management and others. As of March 31, 2011, it had total assets of RM380.3 billion, and, as of May 31, 2011, it had a market capitalization of RM66.6 billion. The Maybank Group today has over 40,000 employees serving more than 18 million customers.