trending Market Intelligence /marketintelligence/en/news-insights/trending/Jl2498m3V-1HbxXYGPeuIw2 content esgSubNav
In This List

Malaysian Industrial Development Finance, Al Rajhi Bank unit in talks to merge

Video

S&P Capital IQ Pro | Powering Your Edge

Video

S&P Capital IQ Pro | Unrivaled Sector Coverage

Podcast

Street Talk Episode 81: Amid strong recovery, Banc of California hearing more M&A chatter

Blog

Banking Essentials Newsletter: September Edition


Malaysian Industrial Development Finance, Al Rajhi Bank unit in talks to merge

Malaysian Industrial Development Finance Bhd. has obtained Bank Negara Malaysia's approval to proceed with talks on a proposed merger with Al Rajhi Banking & Investment Corp.'s local arm, Al Rajhi Banking & Investment Corp. (Malaysia) Bhd., DealStreetAsia reported Jan. 10, citing an announcement from the Malaysian bank.

The company has three months from the date of the central bank's approval to finalize negotiations. The merger discussions will involve the Malaysian lender, sole shareholder Permodalan Nasional Bhd. and Al Rajhi Bank.

If the merger talks push through, the deal would be subject to regulatory approvals in Malaysia and Saudi Arabia.