Grab said to be eyeing stake in Malaysia's sixth largest banking group AmBank - report

$Grab Holdings (GRAB.US)$ Grab Holdings Inc is said to be eyeing a stake in AmBank, Malaysia’s sixth-largest banking group by total assets.

ANZ has a 21.68 percent stake in AmBank while, Azman, who retired as the banking group’s chairman March-end, owns 11.83 percent stake, the group’s latest annual report showed. Listed on the Malaysian stock exchange, shares of AmBank closed at MYR3.64 ($0.83) on Monday, giving it a market capitalization of MYR12.06 billion ($2.75 billion).

GXS Bank will hold a 55.45 percent stake in the proposed Malaysia digital bank, Grab announced then. The Grab-Singtel consortium has earlier secured a digital bank license in Singapore in December 2020.