Maybank to take over finance unit

Malayan Banking Bhd (Maybank) is taking over the business of wholly-owned unit Mayban Finance Bhd and will subsequently merge the operations with its existing banking business and enhance the group’s overall financial services. 

The integration was in line with its strategy to further strengthen its position in the financial services industry, with the combined entity also expected to benefit from economies of scale, the banking group said in a statement yesterday.