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Bank Negara Yes to 10 banking groups (HL).
BANK Negara Malaysia has granted approval for the formation of 10 banking groups, including their lead banks and respective partners, Governor Tan Sri Ali Abul Hassan Sulaiman announced yesterday.
The 10 anchor banks are Malayan Banking Bhd, Bumiputra-Commerce Bank Bhd, RHB Bank Bhd, Public Bank Bhd, Arab Malaysian Bank Bhd, Hong Leong Bank Bhd, Perwira Affin Bank Bhd, Multi-Purpose Bank Bhd, Southern Bank Bhd and EON Bank Bhd.
Upon completion of the merger programme, each banking group will attain minimum shareholders' funds of RM2 billion and asset base of at least RM25 billion, Ali said in a statement.
"The next step for the banks is to complete …
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