RHB EXPECTS TO COMPLETE INDON BANK ACQUISITION IN Q3

KUALA LUMPUR, April 6 (Bernama) -- RHB Banking Group expects to complete the
acquisition of Indonesia's Bank Mestika in the third quarter of this year.

RHB Capital Bhd's principal officer, Kellee Kam Chee Kong, said currently,
the group was working with the regulators and expected to get the necessary
approvals.

"We have received Bank Negara Malaysia's approval for the acquisition in
January 2011, while the rights issue of RM1.3 billion (US$433 million)for the
acquisition of Bank Mestika has been approved by the Securities Commission and
shareholders," he told reporters after RHB Capital's annual general meeting here
Wednesdy.

The proposed exercise involves acquiring 80 per cent stake in Bank Mestika
from PT Mestika Benua Mas for RM1.16 billion(US$386 million).

On mergers and acquisitions, Kam said the company would continue to evaluate
options both domestically and regionally.

RHB Bank Bhd's principal officer, Renzo Christopher Viegas, said many
Malaysian banks were growing internationally.

"If you look at Malayan Banking and CIMB, their international portions had
helped boost growth and profitability.

"We are doing the same thing. We already have operations in Thailand,
Singapore, Vietnam and Brunei.

"Hopefully, the Indonesian acquisition will happen," he said.