KUALA LUMPUR (April 3 ) : Shares of CIMB Group Holdings Bhd rose as much as 2% on Tuesday morning on news that the financial services provider is acquiring Royal Bank of Scotland’s operations in Asia.
At 10.40am, CIMB was traded four sen higher at RM7.83 after touching an intraday high of RM7.96.
In a note, Credit Suisse said due to a lack of visibility on potential revenue upside for CIMB following the acquisition, Credit Suisse said investors “would at best be neutral on the deal”.
However, Credit Suisse said the timing of the deal is good and that CIMB has a good acquisition track record so far.
At 10.40am, CIMB was traded four sen higher at RM7.83 after touching an intraday high of RM7.96.
In a note, Credit Suisse said due to a lack of visibility on potential revenue upside for CIMB following the acquisition, Credit Suisse said investors “would at best be neutral on the deal”.
However, Credit Suisse said the timing of the deal is good and that CIMB has a good acquisition track record so far.
