Maybank Shares Slip 0.55 Pct After Announcing Maybank Ageas Acquisition

KUALA LUMPUR, Aug 4 (Bernama) -- Malayan Banking Bhd’s (Maybank) share price slid 0.55 per cent on Tuesday morning after announcing the acquisition of the remaining 30.95 per cent stake in Maybank Ageas Holdings Bhd yesterday.

At 9.59 am, the counter declined six sen to RM10.78, with 5.91 million shares traded.

According to Maybank, the bank signed an Implementation Agreement (IA) with Ageas Insurance International NV (Ageas) to acquire the remaining 30.95 per cent stake in Maybank Ageas for RM4.83 billion.

It said the acquisition is expected to be completed by the end of the third quarter of 2026, subject to Bank Negara Malaysia's (BNM) approval.

Hong Leong Investment Bank Bhd (HLIB) said the acquisition is a tactically positive move, as it provides Maybank with greater control over a strategically important insurance franchise while improving capital fungibility across the group.

“Assuming regulatory approval from BNM is obtained as targeted, the key value creation opportunity lies in Maybank’s ability to accelerate bancassurance penetration, deepen product cross-selling within its extensive customer ecosystem, and streamline regional insurance operations under a more integrated structure.

“In particular, achieving the targeted increase in bancassurance contribution and product holding will be crucial to driving sustainable premium growth and improving Etiqa’s return on equity profile over the medium term,” it said in a note.

Hence, HLIB raised its financial year 2026 (FY2026) to FY2028 estimates by 1.4 per cent, 1.6 per cent and 1.6 per cent, respectively, and maintained a “hold” call on the bank with a higher target price of RM11.10, up from RM10.80.

-- BERNAMA