Hong Leong Bank Bhd (HLBB) has been granted a vesting order to transfer the entire business, including all assets and liabilities of EON Bank Bhd, to HLBB with effect from July 1, 2011.

Following the vesting, EON Bank Bhd will become a dormant company.

Group managing director/chief executive, Yvonne Chia, said the granting of the vesting order was a key step towards merging the operating businesses of both banks.

'While it is effective from July 1, it will continue to be business-as-usual for customers and business associates of both banks until further notice,' she said in a statement today.

HLBB said uninterrupted service and seamless continuity of its banking operations at both banks would continue.

'Like all bank mergers, the full integration process will take time before we can truly operate on a single platform.

'The merger is making solid progress at this stage and we have forged very good camaraderie between the two banks in a very short time.

'These are exciting times for all of us and the new senior leadership team is focused, passionate and committed to the success of this merger. This is a growth merger for all stakeholders,' she said. -- Bernama