KUCHING: Hong Leong Bank (HLB) was named the ‘Best SME Bank in Malaysia’ for the third consecutive year at the Asian Banking & Finance (ABF) Retail Banking Awards 2024.
According to a statement, this award has cemented its position as the premier bank for Malaysia’s small and medium-sized enterprises (SME) and recognises the bank’s contribution within the SME space, with its innovative products, services, and solutions that consistently drive positive growth for its customers.
It stressed HLB’s dedication to becoming a trusted banking partner for SMEs translates into impressive results, with the bank recording a 13 per cent year-on-year (y-o-y) growth in its overall SME customer base.
HLB Group Managing Director cum chief executive officer Kevin Lam commented that HLB SME loan/financing portfolio has witnessed a 10.4 per cent y-o-y increase to RM33 billion in the past financial year, attributed largely to a robust 12.6 per cent y-o-y growth in its community banking initiatives within the SME segment, which is almost double the industry average growth of 6.7 per cent.
He pointed out that SMEs are the lifeblood of the Malaysian economy, and their success is paramount to the nation’s progress.
“At HLB, we remain committed to being valuable partners to our SME customers and community, and supporting them through every stage of their journey.”
He said that receiving this prestigious award for the third consecutive year is indeed a tremendous honour for the bank.
“It is a testament to the dedication and hard work of our entire team at HLB who provide services and solutions that empower our SME customers through their digitalisation, innovation, and sustainability journeys.
In line with the bank’s customer-centric and digital-first approach, Lam stated that HLB goes above and beyond when serving its SME customers.
He said that besides providing loans and financing, it implements a digital onboarding experience where SME customers can apply for banking products and services from the comfort of their own premises.
“This eliminates the need for SME owners or managers to visit a physical branch to open an account or access banking solutions.
“HLB also provides a diversified suite of online banking capabilities, including enhanced features for faster trade processing, an optimised loan origination system that expedites loan approvals and more, ensuring SME customers enjoy a streamlined and comprehensive banking experience,” he said.
