CIMB Group Holdings Bhd. (1023.KU) said Thursday it signed a preliminary agreement with Royal Bank of Scotland Group PLC (RBS.LN) to buy some of the British bank's assets in Asia.

CIMB plans to acquire some of the cash equities, equity capital markets and corporate finance businesses operated by RBS in the Asia-Pacific region, CIMB said in a statement on the memorandum of understanding signed by the two parties.

"The MOU provides for the parties to negotiate exclusively with each other and finalise the scope and terms of a sale and purchase agreement," it said, adding that any further announcements would be made at the "appropriate time."

Local banks across Asia-Pacific are seeking to become regional players by hiring bankers from Western firms such as RBS, which are retrenching across the region.

-By Ankur Relia, Dow Jones Newswires; 603-2026-1233; ankur.relia@dowjones.com