AmBank chairman says merger with RHB Bank and stake acquisition by Grab remains a market talk

PUTRAJAYA, May 25 — AMMB Holdings Bhd and RHB Bank Bhd revisiting a merger proposal and Grab Holdings Inc eyeing a stake in the bank remains a market talk at the moment, AmBank chairman Tan Sri Azman Hashim said.

“Discussions will continue but as of now, there is nothing more than talk and as for Grab, there is also nothing official. Nevertheless, he said the bank is consistently enhancing its digital capabilities, paving its way into digitalisation as the way forward amid the digital banking frenzy. “Our e-banking segment has expanded rapidly and we have no choice but to join the crowd and the competition .It was reported that Singapore-headquartered e-hailing company Grab is interested in acquiring a stake in AmBank from the bank’s two largest shareholders, Australia and New Zealand Banking Group Ltd and Azman.

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