The two banks will continue to operate in Singapore under separate licences, says MAS.
, the Monetary Authority of Singapore said on Monday .
"FINMA will continue to supervise the merged large bank very closely during the integration process," the authority said in the statement. "As we start to operate the consolidated banking group, we'll continue to be guided by the best interests of all our stakeholders, including investors. Our top priority remains the same: To serve our clients with excellence."Also read:MAS said it is also closely monitoring the implications for jobs in the banks and has conveyed its"expectation for the banks to handle this responsibly".
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