Auswide Bank today announced a delay in the proposed legal merger between Auswide Bank and MyState Bank which was expected to be finalised in December.
The delay comes as Auswide Bank and MyState Bank continue to progress the relevant applications with regulators, with outcomes now expected in early 2025.
The Scheme Meeting, at which Auswide Bank Shareholders were to vote on the proposed merger, which was scheduled for Monday 2 December 2024, has been rescheduled to 3 February 2025, with the goal of completing the merger transaction in the same month.
Mr Doug Snell, Managing Director and CEO of Auswide Bank said “regardless of the timing of the shareholder meeting and its outcomes, Auswide will get on with the hugely important job of serving our customers.
“It’s essential that we remain focused on supporting our customers, partners, people and local communities.”
“While we await the necessary approvals and even after the entities are legally merged, it is ‘business as usual’ with a continued focus on helping our customers finance their goals, grow their wealth, manage their finances, and protect their assets while providing exceptional customer service.” Mr Snell said.
More information about the proposed merger can be found on the Auswide Bank website or the ASX website.
