Hong Leong Bank wins ‘Best SME Bank’ award for the fifth consecutive year

KUALA LUMPUR: Hong Leong Bank Bhd (HLB) has been awarded the title of “Best SME Bank” by The Asian Banker for the fifth year in a row.

The award, presented at The Asian Banker Excellence in Retail Financial Services and Technology Innovation Malaysia Awards 2023, is renowned for its rigorous evaluation process and is awarded to financial institutions for their vision, execution, and market-leading financial service propositions.

This recognition also comes on the heels of HLB being named the “Best SME Bank in Malaysia” for the second consecutive year by Asian Banking & Finance last month.

HLB managing director and CEO Kevin Lam said this achievement was a testament to the bank’s relentless dedication to supporting SMEs through tailor-made financial solutions and community-focused strategies.

“Being named the Best SME Bank five years in a row shows that we are committed to supporting and empowering our SME customers to expand their businesses through digitalisation, innovation, and sustainable practices. As a financial institution that is “Built Around You”, our main priority is to provide financial tools and solutions that cater to the SMEs’ specific and diversified needs, equipping them with the resources needed to better serve their markets.

“Looking ahead, empowering the SME sector will continue to be a key priority for HLB, as we step up our efforts to support SMEs through digital transformation and implementing ESG considerations into their operations. We are committed to being a value-adding partner in the SME ecosystem that looks to future-proof our SME customers, shaping a stronger economic landscape for Malaysia that all stakeholders can benefit from,” Lam said in a statement.

Moving forward, HLB aims to enhance its SME customer experience across all touchpoints for both borrowing and non-borrowing products and services, with plans put in place to double its SME loans and deposits portfolio, as well as its customer base, by 2028.

On its commitment to being ESG-compliant and “Here For The Long Term”, HLB has also set its sights on doubling its ESG-related financing loans to SMEs within the next three to five years, with close to RM1.3bil in renewable energy financing already approved for SME customers as of August 2023.