NO CIMB + MAYBANK MERGING

CIMB Group expects the corporate deal pipeline to remain positive after a strong start to the year, said CEO Datuk Seri Nazir Razak. Nazir also ruled out speculation of a merger between CIMB and Maybank, saying that there will be a lot of duplications and he doesn’t see any advantages. The group is also in talks to sell a stake in a unit set up to manage bad debt to three potential investors, Nazir said. The bank expects to sign its first agreement this year, Nazir said. He added that Malaysian banks can cope with a further interest rate increase of 25 to 50 basis points. (Bloomberg)

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