Saturday, 3 May 2014 00:00
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With reference to the Daily FT’s article yesterday titled ‘Alarm from Alles,’ MTI Consulting issued the following clarification:
MTI CEO Hilmy Cader who personally moderated the panel discussion at the MTI Banking Forum on 29 April said the comment made by HNB CEO Jonathan has been grossly misinterpreted.
When Jonathan said “don’t merge,” what he meant was not to merge the organisational structures after a bank takes over a finance company. Neither he nor any of the other seven panellists even implied that the consolidation should not go through. In fact, the HNB CEO gave specific examples of how to merge specific functions upon merger, giving specific examples of functions that are the relatively core competencies of the banks and the NBFI respectively.
