EON Bank Expects Positive Growth As It Awaits Outcome Of Proposed Merger With Hong Leong Bank
PETALING JAYA, Aug 4 (Bernama) -- EON Bank Group expects positive growth and financial results, especially in the consumer and small and medium enterprise (SME) segments, as it awaits the final outcome of the proposed merger with Hong Leong Bank.
Its group chief executive officer, Michael Lor, said the proposed merger, which has not materialised yet, has not impacted EON Bank's operations significantly.
"What is most important is that things will not drag too long.
"This is something that shareholders will have to decide. Mergers and acquisitions are commercially-driven," Lor said at the launch of the group's corporate social responsibility (CSR) programme here Wednesday.
Lor said the group expected 14 per cent rise in loan growth this year.
"In spite of analysts' expectations of slower growth, we are positive of our business growth especially in the consumer and SME segments," he said
He said the bank was also on track to achieve financial growth.
"In the banking industry, there are some business segments that will see momentum and some that will be a bit slow. Fortunately for us, we have not seen that yet," he said.
The banking group, Lor said, has invested RM32 million to boost its business intelligence capability and risk management.
EON Capital is set to release its financial results for the second half of the year by next week, he said.
Meanwhile, EON Bank group, together with business analytics solutions provider, SAS Malaysia, today jointly launched the inaugural "SAS-EON Bank Goup Knowledge Discovery Challenge" programme for university students.
The programme is part of the key initiative under the banking group's newly-launched CSR strategy, called "Developing Our Youth Today, For Tommorrow".
It seeks to equip the students with the necessary skills to thrive in the area of business analytics.
Other activities currently carried out under the programme include the EON Bank Group Smart Junior Academic Excellence Awards, which has given more than RM400,000 to 2,000 students since the 2004 for excellent performances in public examinations.
It has also supported Bank Negara Malaysia's school adoption programme, which seeks to increase financial literacy among school-going youths.— Bernama
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