DATUK SERI MOHAMED AZIR ABDUL RAZAK
Datuk Seri Mohamed Nazir Abdul Razak
It involves CIMB paying RM431.8 million to RBS for the operations and injecting another RM417.6 million of new capital into various operating entities.
CIMB Group Holdings Bhd, the country’s second largest bank by assets, is acquiring most of Royal Bank of Scotland’s (RBS) cash equities and associated investment banking business in Asia Pacific for RM849.4 million.The deal will see CIMB emerging as the largest investment banking franchise based in Asia Pacific excluding Japan.It involves CIMB paying RM431.8 million to RBS for the operations and injecting another RM417.6 million of new capital into various operating entities.“This is an excellent opportunity to complete the build-up of our capabilities in Asia Pacific markets and to do it quicker and less expensive than if we grew organically,” CIMB group chief executive officer Datuk Seri Nazir Razak said.