Malaysia

Despite Maybank and CIMB bid for takeover, the lender is still looking at medium-sized and large banks acquisitions.

Industry’s stiff competition forces small lenders to team up with larger ones to form stronger entities.

Reuters reports Malaysia's top two banks, Maybank and CIMB Group, are beginning rival talks to buy RHB Capital, which could lead to creating Southeast Asia's largest banking group.

Improvement on net interest income, other operating income, income from Islamic banking business and lower allowance for impairment on loans drove the profit rise.

CIMB Group Holdings Bhd's net profit for first quarter was 9.4% higher year-on-year at RM917million.

Affin Holdings  recorded a 20.9 per cent lower pre-tax profit of RM140.3 million for the first quarter ending March 31 against RM177.3 million from last year.

The campaign’s was able to receive 9.7mn entries and garnered in excess of $392.1mn retail deposits growth. Affin Bank Bhd is targeting less than RM2 billion ($653.49 million) for the second Oh My Goshh! (O.M.G) deposit savings campaign to be launched on June 1.

Alliance Bank Malaysia Bhd expects 30 per cent of its total revenue to come from its non-interest income segment in the next three to five years.

The group announced a dividend of $1.71 per share that constitutes the first tranche of the total cash proceeds.

The lender plans to engage in M&A moves outside Malaysia but within the fast-growing Southeast Asia region.

Maybank expects its debit card segment to continue growing at over 100 % this year, making it the fastest growing card segment in its stable.

Maybankcwill make a mandatory unconditional cash offer to acquire all the ordinary shares of Kim Eng Holdings Limited at a price of S$3.10 per share.

Sumitomo Mitsui Banking Corp and a private equity consortium are eyeing a 25% stake in RHB Capital Bhd.

Malayan Banking Bhd's overseas operations are expected to drive its growth in the future, according to HwangDBS Research.

With acquisition of EONCap, the lender has greater distribution channels with additional 300 branches nationwide.

The earnings growth was fuelled by higher net interest income, Islamic banking earnings and non-interest income.