RHB Bank has reaffirmed its strategic commitment to Boost Bank by investing RM51 million, securing a 40% stake in the digital banking entity. The investment, detailed in a regulatory filing on March 27, 2025, involved subscribing to 51 million new shares at RM1 per share, financed entirely from RHB’s internal reserves. This move aims to bolster Boost Bank’s expansion and operational capabilities while ensuring compliance with Bank Negara Malaysia’s capital requirements.
Since May 17, 2024, RHB Bank has progressively acquired additional shares, culminating in the latest transaction. As of March 21, 2025, the Employees Provident Fund Board (EPF) holds 37.87% of RHB Bank and 18.17% of Axiata Group Berhad, Boost Bank’s indirect parent company.
The investment’s impact on RHB Bank’s financials remains minimal, with the highest percentage ratio calculated at 0.16% of its audited consolidated net assets as of December 31, 2024. This figure falls comfortably below Bursa Malaysia’s 0.25% threshold for mandatory public disclosure, thus not requiring further announcement.
Previously, RHB Bank and Boost Holdings invested RM9.5 million in April 2024 and RM8.6 million in February 2024, respectively, to maintain their joint ownership of Boost Bank, which debuted as Malaysia’s first homegrown digital bank in June 2024. Within six months, Boost Bank attracted over RM700 million in deposits and recorded a Gross Transaction Value (GTV) exceeding RM5.6 billion by year-end.
