KUALA LUMPUR: The High Court has granted a vesting order for EON Bank Bhd's entire business to be transferred to HONG LEONG BANK BHD [] with effect from July 1.
HL Bank said the court had granted the order on Friday, June 17 and following the vesting, EON Bank will become a dormant company.
Group managing director and chief executive Yvonne Chia said the granting of the vesting order is a key step towards merging both banks' operating businesses.
While the merger would be effective from July 1, she said it will continue to be business-as-usual for customers and business associates of both banks until further notice.
Chia said there would be uninterrupted service and seamless continuity of the banking operations at both banks.
'Like all bank mergers, the full integration process will take time before we can truly operate on a single platform. The merger is making solid progress at this stage, and we have forged very good camaraderie between the two banks in a very short time.
'These are exciting times for all of us and the new senior leadership team is focused, passionate and committed to the success of this merger. This is a growth merger for all stakeholders," she said.
HL Bank said the court had granted the order on Friday, June 17 and following the vesting, EON Bank will become a dormant company.
Group managing director and chief executive Yvonne Chia said the granting of the vesting order is a key step towards merging both banks' operating businesses.
While the merger would be effective from July 1, she said it will continue to be business-as-usual for customers and business associates of both banks until further notice.
Chia said there would be uninterrupted service and seamless continuity of the banking operations at both banks.
'Like all bank mergers, the full integration process will take time before we can truly operate on a single platform. The merger is making solid progress at this stage, and we have forged very good camaraderie between the two banks in a very short time.
'These are exciting times for all of us and the new senior leadership team is focused, passionate and committed to the success of this merger. This is a growth merger for all stakeholders," she said.
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