KUALA LUMPUR (July 15): MBSB Bhd (KL:MBSB) said it has rebranded its investment banking arm that was taken over following the RM1.01 billion acquisition of Malaysian Industrial Development Finance (MIDF) in 2023.
The rebranding, effective July 10, sees MIDF Amanah Investment Bank Bhd renamed as MBSB Investment Bank Bhd (MBSB IB), according to a statement.
Meanwhile, the group's investment research unit, MIDF Research, is now known as MBSB Research, MBSB said.
MBSB IB, it added, will continue to contribute to the group’s non-funded income through its core strengths in advisory, research, equity brokerage, and capital markets, including sukuk structuring, equity raisings, and project financing.
The move reflects a commitment to present "a single, cohesive brand" to clients, regulators and partners across the group's portfolio, said MBSB.
"MBSB IB stands as an integral pillar of MBSB Wholesale Banking, together with Corporate and Institutional Banking, Financial Markets, Asset Management, and Transaction Banking," MBSB said.
Meanwhile, MBSB Research will maintain its role in delivering market intelligence and economic insights for both internal stakeholders and the wider investment community.
Previously, MBSB, formerly known as Malaysia Building Society Bhd, had acquired the entire equity interest in MIDF from Permodalan Nasional Bhd (PNB) via a RM1.01 billion share deal in 2023. PNB now owns 12.78% of the Islamic banking group.
At 70.5 sen per share at Tuesday's close, MBSB had a market capitalisation of RM5.8 billion.