Thursday, Aug 30, 2007
KUALA LUMPUR (Dow Jones)--Kuwait Finance House (M) Bhd., a unit of Kuwait Finance House KSC (KFIN.KW), is interested to buy up to 30 RHB Bank Bhd. branches, said K. Salman Younis, managing director of Kuait Finance Malaysia Thursday.
"We are still waiting for central bank approval (for the deal), Younis told reporters.
Malaysia's fourth-largest lender RHB Capital Bhd. (1066.KU) said in mid-August that its 100%-owned unit RHB Bank Bhd. has been given in principle approval from the central bank to commence talks to sell "a combination of RHB Bank branches, assets and liabilities" to Kuwait Finance House.
Presently, RHB Bank has 180 branches, which offer conventional and Islamic banking products and services.
Kuwait Finance previously expressed interest in taking a stake in RHB Capital, but said in May it would temporarily shelve that plan to concentrate on its organic expansion strategy in Malaysia.
-By E-Ling Liaw, Dow Jones Newswires; (603) 2692 5254; e-ling.liaw@dowjones.com
-Edited by Rosalyn Lim
(END) Dow Jones Newswires
30-08-07 0531GMT
