Kuala Lumpur, (6 May 2011) - Hong Leong Bank Bhd ("HLBB") today announced the completion of the acquisition of EON Capital Bhd's assets and liabilities. EON Bank group (EON Bank Bhd, EONCAP Islamic Bank Bhd and MIMB Investment Bank Bhd) now becomes part of Hong Leong Bank group ("Group").
"This merger is about value creation for all stakeholders. It creates a systemically stronger banking group with an asset size of more than RM 140 billion to achieve the vision and objectives under Bank Negara Malaysia's Financial Sector Master Plan. As a larger bank, we are also better positioned to support Malaysia's economic growth and transformation.
Customers will now have greater access to an even more comprehensive suite of products and services to serve their needs. We will be able to reach our community better with an expanded distribution network of more than 300 branches and 1200 self-service terminals.
This is also an exciting proposition to all employees of the Group to become part of a larger franchise with regional ambitions, that supports personal development and rewards success, " shared Ms Yvonne Chia, Group Managing Director/Chief Executive, HLBB.
Working towards a seamless experience for customers
"We are committed to make this integration as seamless as possible for our customers and community. It is business-as-usual in the meantime. An integration team from both banking groups will be formed immediately. We will work hard and smart towards a seamless merger for our customers.
As in all normal bank mergers, the process of harmonising the businesses requires time. Merger success comes from a supportive community, understanding customers, a strong leadership, a committed and passionate team, and rigorous execution of detailed plans," explained Ms Chia.
"We are committed to make this integration as seamless as possible for everyone. It is business-as-usual in the meantime.
In the interim, customers who bank at Hong Leong Bank branches may continue their account and banking enquiries at their respective Hong Leong Bank branches or call Hong Leong Bank Call Centre at +603 7626 8899 until further notice. Similarly, EON Bank group customers may also continue to refer to their own EON Bank group branches or call EON Bank Call Centre at +603 2616 1133. We will be sharing more information and updates of the integration as we progress."
"It is understandable that like any other merger, employees may have concerns and questions about what is happening. Rest assured that employee welfare and interests have been and will continue to be a priority for the Group," continued Ms. Chia.
"We are obviously very excited. We see many opportunities to create value - how we may contribute to the banking sector as a stronger institution, how we may create even more value for customers in how we serve and reach them, how we may provide greater opportunities and careers for our employees, and how we may create more value for the economy and investors.
Press Release - 06/05/2011