CIMB, RHBCAP, MBSB enter 90-day merger negotiations

CIMB Group Holdings, RHB Capital and non-bank lender, Malaysia Building Society (MBSB) have entered into a 90-day exclusivity agreement to negotiate a merger among themselves. The trio said they had obtained Bank Negara Malaysia's approval to begin discussions aimed at merging the businesses of RHBcap and CIMB and creating an enlarged Islamic banking franchise with MBSB.