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This article needs additional citations for verification. Founded 1997, following the merging of DCB Bank and Kwong Yik Bank. Malaysia as a public limited company on 24 August 1994 under the name of DCB Holdings Berhad. It assumed its present name on 16 June 1997. RHB Bank Berhad, RHB Investment Bank Berhad, OSK Investment Bank Berhad, RHB Insurance Berhad and RHB Islamic Bank Berhad, while its asset management and unit trust businesses are undertaken by RHB Asset Management Sdn.
RHB Islamic International Asset Management Berhad. On 16 March 2005, the RHB Banking Group became the first domestic financial group in Malaysia to set up an Islamic banking subsidiary, known as RHB Islamic Bank Berhad. RHBIB the largest investment Bank in Malaysia by assets. With the recent merger of OSKIB and RHBIB, the investment banking business is now in seven ASEAN countries and Hong Kong. A year later, a merger between Kwong Yik Bank Berhad and DCB Bank Berhad formed RHB Bank, which made it as Malaysia’s third largest financial services group. RHB Bank is one of the main subsidiaries under the RHB Banking Group and recently celebrates its 100th Anniversary on 15 July 2013.
Berhad in 1997, 1999 and 2003. Kwong Yik Bank Berhad was established in 1913 in Kuala Lumpur, making it Malaya’s first local bank. In 1997, Kwong Yik Bank Berhad merged with DCB Bank Berhad, making it the country’s biggest ever banking merger at that time. Banking Corporation, Limited incorporated and commenced business on 15 July 1913 at the Old Market Square. 1915 : Moved from Market Square to the corner of Jalan Bandar and Jalan Silang where it remained until 1938.
30s : Extended credit to local traders, mainly Chinese businessmen, miners and planters, in a financial environment largely dominated by foreign banks. Despite the economic depression of the 1930s, Kwong Yik Bank played a significant role in the growing prosperity of Malaya and the demand for rubber and tin. 1938 : Moved to the Kwong Yik Bank Chambers. This remained its base until the 1960s. 1940s : Operations suspended with the Japanese Occupation and World War 2. The bank resumed business when the war ended. In 1941, deposits totalled RM5 million.
1950s : Played an integral part in the rehabilitation of the country’s economy leading up to Independence. Links with overseas banks were established. 1961 : Moved to its temporary premises in Jalan Bandar while awaiting the completion of its new headquarters. By this time, customer deposits totalled RM34 million. 1963 : Kwong Yik Bank celebrated its Golden Jubilee. 1964 : First sub-branch opened in Jalan Pasar.
Prime Minister then, Tunku Abdul Rahman on 10 September. Opened branches in Jalan Ipoh and Jalan Bukit Bintang. 1967 : First branch opened in Petaling Jaya. Both Kuala Lumpur and Petaling Jaya were rapidly expanding at this point and many of the landmark buildings were financed by Kwong Yik Bank. 1970 : Malayan Banking’s shareholding in the bank increased to 51.
Kwong Yik Bank’s deposits at this juncture totalled more than RM130 million. 1979 : Began computerising its current and savings accounts. April 1981 : Opened a branch in Ipoh, the first outside Federal Territory and Selangor. 1985 : Introduced ATM service called ‘Boss’ simultaneously at 12 of its branches in Kuala Lumpur, Petaling Jaya and Klang. 1987 : Joined forces with Malayan Banking to launch the country’s first shared ATM service called the ABC network. 1989 : Launched the Boss Corporate Card and its Sunday Banking service. 1993 : Kwong Yik Bank celebrated its 80th anniversary.
It had 50 branches throughout the country at this juncture and 1,680 staff. To mark the occasion, the bank produced its first TV commercial. 1997 : Rashid Hussain Bhd purchased Malayan Banking’s share in Kwong Yik Bank. This biggest bank merger in the country’s history formed RHB Bank Berhad, then Malaysia’s third largest financial services group.
1997 : Launch of RHB Online service for financial services via computer and telephone. 1999 : Sime Bank merged with RHB Bank to become part of the RHB Banking Group. 2003 : Merger of RHB Bank with Bank Utama Berhad, which was first established in 1976. 2009 : Inception of Easy by RHB.
2012 : RHB Capital acquired OSK Investment Bank, paving the way for the RHB Banking Group’s presence in ASEAN and Hong Kong. 2017 : Merger plans scrapped between RHB and Ambank Group as both parties cannot mutually agree on terms. Retail Banking serves the needs of retail customers through a range of products such as Insurance, Wealth Management, Hire Purchase, Cards and Unsecured Loans as well as Secured Loans. Commercial and SME customers can find a comprehensive range of products according to their financing needs. CIB offers corporate and investment banking services, comprising corporate finance advisory, equity and debt capital markets, securities and futures broking, asset management, corporate banking, private equity and research.