KUALA LUMPUR May 25 Malaysian Islamic financial
group BIMB said on Wednesday it was unable to consider
a merger between its unit Bank Islam with rival Bank Muamalat at
"BIMB wishes to announce that, after careful consideration
of Bank Islam Malaysia Berhad's current strategic plans and
positioning, the company is unable to consider a merger exercise
at this point of time," BIMB said in a stock exchange filing.
Financial-to-autos group DRB-Hicom , which owns 70
percent in Bank Muamalat, had said this month it would explore
the possibility of merging the Islamic bank with Bank Islam.
Bank Islam is Malaysia's No. 2 sharia bank and it is 51
percent owned by BIMB. Dubai Financial Group has a 30.5 percent
share and the Malaysian pilgrim's fund owns 18.5 percent.
(Reporting by Liau Y-Sing; editing by Razak Ahmad)