KUALA LUMPUR: RHB Capital Bhd is not in any "merger" discussions with Malaysia Building Society Bhd (MBSB) at the moment, said RHB Bank Bhd managing director Johari Abdul Muid.
"For RHB, we have been on the lookout for acquisitions. MBSB was one of them but there is nothing now.
"It is what the experts are saying," he said, in response to a recent report which quoted the Employees Provident Fund as saying it would let both RHB Capital and MBSB decide on the merger plans.
The EPF owns 44.84 per cent of RHBCap and 65.5 per cent in MBSB.
Johari was speaking after the official launch of the RHB Signature Card yesterday.
On the banking group's planned purchase of a stake in PT Bank Mestika Dharma in Indonesia, he acknowledged that it will take a bit longer due to the regulatory changes in Indonesia.
"But we are still pursuing it as we have seen the opportunities which both Maybank and CIMB Bank have had in Indonesia."
The country's fifth largest banking group had first proposed buying 80 per cent of Bank Mestika for RM1.16 billion in October 2009 but faced numerous challenges, including on deal structure and regulatory changes.
A major spanner was thrown in the works last year when Indonesia announced new banking rules, limiting single ownership in its banks at just 40 per cent.
Meanwhile Elvy Kassim, the head of RHB Bank's cards and unsecured business, said the bank hopes to roll out 30,000 cards within the first year of the launch.
Called the RHB Visa Signature, it is a cash back credit card that rewards its customers on all their expenses.
Targeted for the mid-affluent market with a minimum income of RM80,000 per year, it sets its focus on online and overseas spend.
Elvy expects the bank's credit card market share to grow from seven to nine per cent with the launch.
Among the benefits of the card is customers will enjoy the one per cent cash back on all online and overseas spend.
Stuart Tomlinson, who is the country manager for Visa Malaysia, said the number of high net worth individuals in Malaysia has also risen in tandem with the rapid growth across the Asia Pacific.