CIMB poised to become Asia's largest investment banking franchise

Will it be able to topple Credit Suisse as it acquires Royal Bank of Scotland?

CIMB Investment Bank today announced the acquisition of most of Asia Pacific cash equities and associated investment banking businesses of the Royal Bank of Scotland.

“This is an excellent opportunity to complete the build-up of our capabilities in Asia Pacific markets, and to do it quicker and less expensively than if we grew organically,” said Dato’ Sri Nazir Razak, Group Chief Executive, CIMB Group.

CIMB claims that the deal amounting to GBP 173.9 million (RM849.4 million) will make it  the largest investment banking franchise based in Asia-Pacific (ex-Japan).

“Top tier international investment banking is an important extension to CIMB Group’s
ASEAN universal banking platform. CIMB’s expanded investment banking franchise
will enable us to assist investors and businesses who want to move in and out of
ASEAN or across Asia Pacific as a whole
," Nazir says.

Since the acquisition of GK Goh Securities in 2005, CIMB’s investment banking franchise, including its securities operations, has been the market leader in ASEAN.

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