The story
Founded by Rashed Hossain in 1997.1
A wholly owned subsidiary of RHB Capital, RHB Bank Berhad is a result of three mergers –with Kwong Yik Bank Berhad in 1997, Sime Bank Berhad in 1999 and after pressure, Bank Utama (Malaysia) Berhad in 2003. Its key milestones through the mergers are as follows:
Kwong Yik Bank Berhad was established in 1913 in Kuala Lumpur, making it Malaya's first local bank. Amongst the bank's co-founders were Chan Wing, Cheong Yoke Choy and Loke Yew. In 1997, Kwong Yik Bank Berhad merged with DCB Bank Berhad (Development & Commerce Bank, also known as D&C Bank), making it the country's biggest ever banking merger at that time.
The United Malayan Banking Corporation Berhad ("UMBC") was set up in 1959 and subsequently became the first commercial bank to be established in independent Malaya when it was officially declared open in 1960.
In 1996, UMBC became part of Sime Darby Berhad and was renamed Sime Bank Berhad. In 1999, it merged with RHB Bank and became part of RHB Banking Group.
Bank Utama was incorporated in 1976. In 1998, Bank Utama merged its business operations with that of Kewangan Utama Berhad. In 2003, RHB Bank merged with Bank Utama.
In 2012, RHB Capital Berhad purchased 100% of OSK Investment Bank in a share swap agreement. In return, OSK received a 10.27% stake in the entire RHB group.
In 2013, RHB Banking Group celebrated RHB Bank's 100th Anniversary.
In 2016, RHB Bank Berhad assumed the listing status of RHB Capital Berhad as the financial holding company.
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In 2017, a merger was proposed between RHB Bank and AmBank Group, but was scrapped as the parties failed to agree on mutually acceptable terms and conditions.
From Wikipedia’s article on RHB Bank, shared under CC BY-SA 4.0.4