Axiata unit Boost and RHB ink deal to jointly bid for digital banking licence

KUALA LUMPUR (June 2): Axiata Group Bhd’s subsidiary Boost Holdings Sdn Bhd and RHB Banking Group have signed a heads of agreement to form a consortium to apply for a digital banking licence from Bank Negara Malaysia (BNM).

In a filing with Bursa Malaysia, Axiata said Boost Holdings would own a majority stake of 60% in the digital bank, while RHB would hold the remaining 40%.

“Celcom Axiata Bhd has signed up as a major commercial partner on joint go-to-market activities with the digital bank for products and services which will benefit customers of both parties,” it said.

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