Hong Leong Bank Named 'Best SME Bank in Malaysia' by Euromoney

Woon Siew Hoong, HLB's Head of SME Banking [2nd from right], and Daniel Mun, HLB's Head of SME Business Transformation [2nd from left]

receiving the Best SME Bank in Malaysia award at the Euromoney Awards for Excellence 2024

KUALA LUMPUR, 24 SEPTEMBER 2024 - Hong Leong Bank ("HLB" or the "Bank") has secured the "Best SME Bank in Malaysia" title at the prestigious Euromoney Awards for Excellence 2024, adding to its SME banking winning streak following its recent triumph at the Asian Banking & Finance Retail Banking Awards 2024. This series of wins underscores HLB's position as a trusted partner for SMEs navigating today's economy.

HLB's continued recognition in SME Banking signifies a much broader achievement. This success can be attributed, in large part, to the Bank's community banking initiatives, which achieved an outstanding 12.6% YoY growth – nearly double the industry average of 6.7% - in the past year. This growth can be attributed to our steadfast commitment to deploying new technologies and innovations, providing our valued customers with an unparalleled banking experience, regardless of the size of the SME. One example would be HLB @ Kampung, the Bank's community banking and financial inclusion initiative which equips local communities with digital payment tools to participate in the digital economy, effectively transforming these areas into a "Cashless Kampung".

Kevin Lam, Group Managing Director and CEO of HLB, acknowledged the significance of this win, "Winning this title at the Euromoney Awards for Excellence is a tremendous honour for HLB as it reinforces the dedication of our entire team at HLB, who truly embody our brand promise of being 'Built Around You'. We understand that success for SMEs starts at the local level, and we are confident that by continuing to support SMEs through every stage of their banking journey, we can contribute significantly to the nation's long-term economic prosperity."

HLB's commitment to fostering a deep understanding of its customers' unique needs and challenges fuels a constant drive for innovation. Recognizing that innovation is key to unlocking SME success in today's dynamic business environment, the Bank has implemented a suite of cutting-edge digital solutions. These include streamlined onboarding platforms for business accounts and internet banking, enhanced features for faster trade processing, and an optimised loan origination system that expedites loan approvals. These solutions directly address pain points identified through their customer focus. As "Your Digital Bank Plus Much More", HLB is also combining the power of digitalization with its strong force of community managers nationwide to provide personalised support and guidance to SMEs, ensuring they have the tools and resources they need to thrive.

Woon Siew Hoong, Head of SME Banking at HLB elaborates on the significance of this holistic approach, "We understand that navigating the marketplace can be daunting for SMEs, and that's why we believe in providing both powerful digital tools and personalised, on-the-ground support. Our digital solutions streamline operations, while our community managers offer the guidance and connections SMEs need to thrive. By being present in their communities, we gain a deeper understanding of their challenges and can offer tailored solutions. The ultimate goal is to help SMEs future-proof their businesses through innovation, a focus on sustainability, and a comprehensive growth strategy."

The Bank has also intentionally fostered strategic partnerships with key players across various industries as they offer access to in-depth insights on different markets, legal and regulatory guidance, and even networking opportunities that benefit SMEs. Some of HLB's future-focused initiatives include the business outlook discussion in partnership with Ernst & Young Tax Consultants, MIDA and the SME Association to help customers gain insights into the post-budget landscape and the ESG Readiness Programme, where customers receive an actionable toolkit, access to sustainable financing solutions, and advisory support for their ESG transition journey.

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