Amid growing speculations in the media about mergers and acquisitions (M&A) involving AmBank Group, AMMB Holdings Bhd AmBank’s broke its silence to clarify the situation. The banking giant dismissed these reports as mere conjecture, assuring stakeholders that any significant developments would be promptly reported in line with Bursa’s stringent disclosure requirements.
In a response to Bernama today, AMMB emphasized that it adheres strictly to best practices and corporate governance standards, and will make appropriate Bursa announcements when there is concrete information to share.
Meanwhile, market analysts such as Kenanga Research have been airing their views that the present macroeconomic climate and AmBank’s current fundamental outlook may render it ripe for an M&A. The research firm argued that the conditions could create an appealing opportunity for a potential merger.
This is not the first time such rumors have swirled around AmBank. Just last year, the market was rife with speculation about possible merger talks between AmBank and RHB Bank Bhd and potential acquisition of a stake in AmBank by Grab Holdings Ltd.
In response to these speculations, RHB Bank Bhd maintained that it is not currently seeking any M&A opportunities. However, the bank clarified that it remains open to evaluating any potential opportunities should they arise.
At present, RHB Bank’s main focus is on its three-year corporate strategy dubbed ‘Together We Progress 2024 (TWP24)’, which centers on organic growth. The strategy revolves around becoming a primary bank for all, prioritizing customer experience, and driving quality growth. This customer-centric approach forms the cornerstone of their business ethos.
As such, while the market continues to speculate on potential M&As, both AmBank and RHB Bank remain committed to their strategic plans and objectives. Any deviations from these plans will be duly communicated to the market.
This news is based on an article from Malay Mail.