Hong Leong-EON merger produces Malaysia's fourth largest

Hong Leong Bank Bhd has acquired EON Capital Bhd's assets and liabilities for RM5.06 billion.

This produced Malaysia's fourth largest banking group with assets of more than RM140 billion.

Under the new entity, there will be a total of 300 branches and 1,200 self service terminals.

With the acquisition, EON Bank Bhd, EONCAP Islamic Bank Bhd and MIMB Investment Bank Bhd now become part of Hong Leong Bank Group.

Both the banks will work towards the integration.