Malaysia Issued Stamps on 100 Years of Banking Excellence

Malaysia Post issued stamps commemorating the 100th anniversary of Malaysia RHB Banking Group. The RHB Banking Group was celebrating its 100th year anniversary on 15 July 2013.\"malaysia

On 15 July 1913, The Kwong Yik Banking Corporation Limited was incorporated. It was Malaya’s first local bank and was founded by a group of prominent members of the Chinese community led by Wong Loke Yew. In 1966, Development and Commercial Bank Berhad (DCB) was established by then Finance Minister, Tun Sir Henry HS Lee, and it grew to be the fifth largest bank in Malaysia. When Kwong Yik Bank merged with DCB in 1997 to form RHB Bank Berhad, it became a leading player in the banking industry in Malaysia.

RHB Bank further consolidated its position as a premier financial institution in the country when it merged with Sime Bank Berhad in 1999. Sime Bank had its origins with Malaysia’s first commercial bank, United Malayan Banking Corporation (UMBC) which was incorporated in 1959. By the time of its integration into Sime Darby in 1996, UMBC was the fourth largest financial institution in the country. In 2003, RHB Bank Berhad’s merger with Bank Utama Berhad, which was incorporated in 1976, resulted in a holistic financial services entity, the RHB Banking Group.

Related Posts with Thumbnails
This entry was posted in Asian Philately, History Behind A Stamp, New Stamps, News, Stamps, Themes, World and tagged , , , , , , , , , . Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>