Bank now has 2nd largest branch network in Malaysia
KUALA LUMPUR, 10 November 2011 - Hong Leong Islamic Bank ("HLISB") today celebrated the successful merger of Hong Leong Islamic Bank and the former EONCAP Islamic Bank following the successful completion of Malaysia's first vesting of an Islamic Bank with EONCAP Islamic Bank Berhad ("EIBB"), both pursuant to the integration exercise between its parent-bank, Hong Leong Bank Berhad ("HLB") and the former-EON Bank Berhad ("EBB"). It also marked the first public event helmed by Raja Teh Maimunah Raja Abdul Aziz, the recently appointed Chief Executive Officer of HLISB.
"We at Hong Leong Islamic Bank are inspired to follow in the footsteps of our parent bank to become a premier player in the Islamic banking circuit. The next few months will be challenging in the face of global market conditions yet exciting as we embark to expand our product range and services as well as market reach. We aim to intensify our reach in the consumer market through the group's wide branch network and to provide our customers with greater product choices. We are also further developing our wholesale banking capacity to better serve our corporate customers and to deepen our participation in the Islamic capital markets segment and Treasury activities," said Raja Teh, at the event, which was officiated by Y.Bhg.
Dato' Muhammad Ibrahim, Deputy Governor of Bank Negara Malaysia.
Raja Teh revealed that HLISB is in the midst of finalising several key appointments in their senior management team, and their names will be revealed in due course.
"The team we are building at HLISB shares a commitment to the development of the industry and Shari'ah application. This commitment I believe will contribute to development of the country's aspiration in becoming a leading Islamic financial centre under the MIFC initiative spearheaded by Bank Negara and the Securities Commission," she added.
Meanwhile, the newly enlarged HLISB also took the opportunity to fulfill its social responsibility by contributing RM50,000 each to the charitable organisations of Yayasan Hal Ehwal Veteran, Pertubuhan Kebajikan Islam (PERKIM), Angkatan Belia Islam Malaysia (ABIM), Yayasan Wakaf Malaysia and Rumah Aman in Shah Alam, totalling RM250,000, as part of its ongoing CSR programme.
"We are pleased to mark this occasion by fulfilling our social duty to the less privileged. Hong Leong Islamic Bank is a bank that seeks to be interwoven into the fabric of the communities in which we operate, and we very much believe that it is beneficial to the entire community as a whole when we assist and empower members our society who are less fortunate," Raja Teh said.
As of 1 November 2011, all former EONCAP Islamic Bank branches were re-designated as Hong Leong Islamic Bank branches, effectively allowing all customers from both banks to enjoy an expanded suite of products and services and conduct banking transactions at all of the Hong Leong Bank Group's 329 branches as well as over 1,400 Self-Service Terminals including ATMs, Cheque Deposit Machines and Cash Deposit Machines, driven by a combined workforce of both banking groups. The bank is also offering an enhanced suite of Shariah-compliant products and services, as a result of putting together the best features and benefits offered by both banks and tailored specifically to the needs of customers and communities.
Payment and transaction instruments issued by the former EIBB, which include cards, cheques and bank drafts, will remain valid till 31 October 2012 (1 year from vesting date) or until further notification, when they will be replaced with Hong Leong Islamic Bank-issued instruments. To facilitate a smooth transition, customers of the former-EONCAP Islamic Bank will receive a new HLISB passbook when they conduct their next transaction at any branch, while ATM and debit cards can only be replaced at domicile branches.
-END-Press Release - 10/11/2011