Taiwan’s CTBC Financial Holding has agreed to buy the Malaysian arm of Royal Bank of Scotland Group (RBS) for about $189m.
The move, subject to regulatory nod, will make CTBC the first local financial services provider to receive a license in Malaysia, the company said.
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The Taiwanese firm will have complete ownership of the Malaysian unit, named The Royal Bank of Scotland Berhad.
In addition, CTBC has also agreed to purchase Labuan Offshore Banking Unit, the offshore banking unit of RBS Malaysia, in a deal valued at $132.5m.
The latest deal by CTBC has come only two weeks after its announcement to buy a 35.6% stake in Thailand’s LH Financial Group for $469m.
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