100 Years of Banking Excellence stamps from Malaysia

November 28th, 2013

Malaysia Post issued a set of stamps commemorating the 100th anniversary of Malaysia RHB Banking Group. The RHB Banking Group was celebrating its 100th year anniversary on 15 July 2013.

On 15 July 1913, The Kwong Yik Banking Corporation Limited was incorporated. It was Malaya's first local bank and was founded by a group of prominent members of the Chinese community led by Wong Loke Yew. In 1966, Development and Commercial Bank Berhad (DCB) was established by then Finance Minister, Tun Sir Henry HS Lee, and it grew to be the fifth largest bank in Malaysia. When Kwong Yik Bank merged with DCB in 1997 to form RHB Bank Berhad, it became a leading player in the banking industry in Malaysia. RHB Bank further consolidated its position as a premier financial institution in the country when it merged with Sime Bank Berhad in 1999. Sime Bank had its origins with Malaysia's first commercial bank, United Malayan Banking Corporation (UMBC) which was incorporated in 1959. By the time of its integration into Sime Darby in 1996, UMBC was the fourth largest financial institution in the country. In 2003, RHB Bank Berhad's merger with Bank Utama Berhad, which was incorporated in 1976, resulted in a holistic financial services entity, the RHB Banking Group.

Tan Sri Azlan Zainol, Chairman, RHB Bank Berhad, said, "We have achieved so much, but the determination to keep growing has not faded; it, in fact, surges on and we are raring to move forward more than ever now. From a small bank, we have grown into a sizeable banking Group through a series of rapid expansion and strategic mergers.

Within a century of presence in this country, the RHB Banking Group has emerged to become a meaningful player in the local banking industry both locally and regionally."

He also credited the group's success today to the dedication and hard work of its Senior Management team and employees.

With the recently completed acquisition of OSK Investment Bank Berhad, the RHB Banking Group is set to become the country's largest investment bank by asset value. Regionally, it now has presence in Singapore, Hong Kong (with a representative office in China), Indonesia, Thailand, Cambodia, Brunei and Vietnam.

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