Corporate Milestone

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Corporate Milestone

From humble beginnings to a world reknown bank

Although formed in 1997, our roots go back in time to the early 90s. Many events since that time have molded us into the bank we are today. Below is brief run-through of the important dates and events in the history of the RHB Banking Group which include mergers and partnerships with other banks that have ultimately lead to the RHB Banking Group that we are today.

Kwong Yik Bank Berhad

  • 1913 - Established with a start-up capital of RM300,000 at the Old Market Square in Kuala Lumpur, making it Malaya's first local bank
  • 1997 - Merges with DCB Bank Berhad, making it the country's biggest ever banking merger at that time

Sime Bank Berhad
(formerly known as UMBC Bank)

  • 1959 - A group of businessmen, led by Mr Chang Ming Thien, a prominent figure in the rubber industry in Malaya and Singapore, sets up the United Malayan Banking Corporation Berhad (UMBC)
  • 1960 - Officially declared open by Prime Minister Tunku Abdul Rahman Putra Al-Haj. It is the first commercial bank to be established in independent Malaya
  • 1996 - UMBC becomes part of Sime Darby Berhad and is renamed Sime Bank Berhad
  • 1999 - Merges with RHB Bank Berhad and becomes part of the RHB Banking Group

DCB Bank Berhad

  • 1966 - Establishment of Development and Commercial Bank (D&C Bank, later renamed DCB Bank)
  • 1997 - Merges with Kwong Yik Bank Berhad to form RHB Bank Berhad, turning a medium-sized bank into the third largest integrated financial services group in Malaysia

Utama Banking Group (UBG)

  • 1976 - A licensed commercial bank, is incorporated as a public company
  • 2003 - Merger of RHB Bank Berhad with Bank Utama Berhad into the RHB Banking Group

RHB Banking Group

  • 1983 - Rashid Hussain secures a broker's licence and sets up Rashid Hussain Securities Sdn Bhd
  • 1996 - Rashid Hussain acquires a 75% stake in Kwong Yik Bank Berhad
  • 1997 - Merger of Kwong Yik Bank Berhad and DCB Bank Berhad to form RHB Bank, then Malaysia's third largest financial services group
  • 1999 - Merger of Sime Bank Berhad and RHB Bank Berhad to form the RHB Banking Group
  • 2003 - Merger of RHB Bank Berhad with Bank Utama Berhad into the RHB Banking Group
  • 2005 - RHB Banking Group received a license for its Islamic Banking arm - RHB Islamic Bank Berhad