IMB Bank to merge with Hunter United

Wednesday 6 May 2020 14:19 CET | News

Australia-based IMB Bank has received the regulatory approval from the Australian Prudential Regulation Authority (APRA) to merge with Hunter United.

Under the terms of the agreement, Hunter United will merge into IMB Bank until the end of 2021. After the merge, the credit union will operate locally as a division of IMB under its own brand name.

Until the end of merge, there will be no change to IMB Bank and Hunter United’s current banking arrangements to facilitate a smooth transition. There will also be no job losses because of this merger and staff entitlements will be preserved.

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Keywords: IMB Bank, Hunter United, Australia, Australian Prudential Regulation Authority, APRA, banking
Categories: Banking & Fintech
Countries: Australia
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