)--CIMB Group Holdings (1023.KU) Chief Executive Nazir Razak Friday said that his bank continues to look for acquisition opportunities and priority would be to look for such deals overseas.
Nazir's comments came a day after his bank said that it was abandoning its merger talks with RHB Capital (1066.KU) as a potential merger wouldn't have created value.
"CIMB is always looking for opportunities. Our priority is to build an Asean (Association of South East Asian Nations) platform," Nazir told reporters on the sidelines of an industry event.
The chief of Malaysia's second largest lender by assets said that his bank is open to opportunities within the country and explore them whenever they arise.
Apart from CIMB, Malayan Banking Bhd. (1155.KU) also said Thursday that it was calling off its merger talks with RHB.
If CIMB had bought RHB, the merged entity would have emerged as the second-largest bank in the fast-growing regional banking market, while a purchase of RHB by Maybank would have created the biggest bank in Southeast Asia by market value, ahead of Singapore's DBS Group Holdings Ltd.
Late last month, both Maybank and CIMB said in separate statements that they had received approval from the central bank to start separate merger negotiations with RHB Capital and its shareholders. Maybank and CIMB had indicated that they would place bids for RHB Capital by the end of this month.
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