RHB looking at buying commercial bank in Indonesia

KUALA LUMPUR: RHB Capital Bhd, which expects to complete the transfer listing to RHB Bank by mid-July, is targeting to buy a commercial bank in Indonesia to leverage on the country's large population and gross domestic product (GDP).
"We already have investment bank and asset management in Indonesia, the big piece missing is commercial bank," managing director and CEO Datuk Khairussaleh Ramli told reporters after the group's AGM here today.
However, he said no potential target has been identified as yet.
"We're open to expansions inorganically, but in the current environment, any mergers and acquisitions have to be at right price and right time as well as linked back to our overall group' strategy," he added.