KUCHING, Feb 5 — Sarawak Premier Tan Sri Abang Johari Openg today said the state government is expected to complete the acquisition of majority shares of a commercial bank by this month.

He said the state government is in the final stage of negotiation.

"Pray that we will have our own commercial bank some time this month when we will take over a commercial bank where the majority of the blocks will be owned by Sarawakians,” he said at the Centre of Technology Excellence Sarawak graduation ceremony here.

"And then we have our own bank,” he said without identifying the name of the bank.

Speculation has been rife that it is Affin Bank Berhad.

Abang Johari said the acquisition of the bank will boost the development of small-medium enterprises in the Borneo state.

Last week, Abang Johari, who is also state finance and new economy minister said that negotiations with the Armed Forces Fund Board regarding the proposed takeover of its stake in Affin Bank Berhad.

The Sarawak government already holds a 4.796 per cent stake in Affin Bank through its investment arm, State Financial Secretary Sarawak, which was acquired for RM1.97 per share or a total of RM221.74 million in April 2023.