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Malaysia’s RHB Bank, AmBank in merger talks

Malaysia’s RHB Bank, AmBank in merger talks

Malaysian financial firms RHB Bank and AmBank Group have entered negotiations for a potential merger, according to media reports.

The proposed deal was first announced late last week on the Bursa Malaysia, with subsequent reports putting its value at nearly $9 billion, which would make it the largest in the country’s history.

RHB Bank first entered into the Cambodian financial sector in 2008 and has since expanded to 12 branches across the country.

Its Cambodian operations had an outstanding loan portfolio of $358 million as of the end of 2016, with deposits totalling $298 million, according to data from the National Bank of Cambodia.

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