FINANCIAL SERVICES | Staff Reporter, Singapore

Far Eastern Bank completes merger with UOB

It will be implemented on 01 October 2017.

UOB announced the approval of its merger with its wholly-owned subsidiary Far Eastern Bank Limited (FEB).

The merger will integrate FEB's operations and business into UOB. It is expected to take effect on 01 October 2017.

"Such integration will increase business efficiencies and the customers of FEB will benefit from being part of a larger bank," UOB said in an announcement on 28 June.

The merger will also enhance the capital efficiencies and incremental income potential of UOB as the merged entity.

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