EON Bank proceeds with makeover scheme

Lender positive in moving forward by venturing into bancassurance despite Hong Leong’s failed merger bid.

Amidst the turbulence in the boardroom of its parent company, EON Bank Bhd is looking optimistically to the future with a three-year transformation plan and new products such as bancassurance for its customers.

Emphasizing the need to move forward, EON Bank Bhd Group Chief Executive Officer (CEO) Michael Lor said the vision is to enter the bancassurance market and at the moment, there are ongoing talks with three potential partners on this.

"We hope to make a positive announcement by the third quarter of this year," he told Bernama in a recent interview.

Lor is optimistic about the bank's three-year transformation plan, stating it does not intend to compete with the "big boys" in the Malaysian banking sector.

"The intention is not to be the largest bank. We do not intend either to compete against the larger banks or have the biggest network of branches.

"We are not talking about being the largest in any area but to be simply good in what we do," he said.

View the full story in Bernama.