RHB group managing director and CEO Datuk Mohd Rashid Mohamad.
KUALA LUMPUR: RHB Investment Bank Bhd (RHB IB), a wholly-owned subsidiary of RHB Bank Bhd, is divesting 99.95% of its stake in RHB Securities (Thailand) Public Company Limited, marking its exit from the Thailand stockbroking and securities market.
RHB IB said the divestment aligned with its long-term strategic focus to optimise capital, streamline resources, and strengthen its presence in core markets.
“The decision to divest RHB Securities Thailand follows a comprehensive review of our business and the operating environment in Thailand,” RHB group managing director/group chief executive officer Datuk Mohd Rashid Mohamad said in a statement.
“This is part of our ongoing strategy to focus on markets where we can achieve greater impact. During this transition, we are fully committed to ensuring a seamless experience for our clients and maintaining the highest levels of service,” he added.
The divestment is expected to be completed by the fourth quarter of 2024, subject to regulatory approvals and other customary conditions.
“Looking ahead, we are excited to refocus our efforts that align with our strategic priorities. In this context, RHB Bank Thailand remains a pivotal driver of growth and an essential component of our regional retail banking footprint,” Mohd Rashid said.
“We remain steadfast in our commitment to delivering innovative solutions and superior services and create long-term value for our clients, employees, and shareholders.”
