Excellence in leadership in Asia 2020: Hong Leong Bank
Awards for Excellence 2020
Supported by helpful regulators, many Asian lenders adapted well to the pandemic. Hong Leong Bank (HLB) was no exception. The Kuala Lumpur-based lender donated to local NGOs and delivered food parcels to the needy during Ramadan.
Customers benefited from its ability to look beyond the fringes of the envelope.
A tie-up with social commerce platform Avana helped hard-up SMEs to target new customers in lockdown, while a deal with digital platform weEat helped food and beverage firms to put their menus online.
Other alliances enabled customers to hook up to and manage inventory, logistics and invoicing on the cloud.
On March 27, Malaysia’s central bank expanded its Special Relief Facility (SRF) and introduced a new RM300 million ($70 million) Micro Enterprise Facility. Both were designed by Bank Negara Malaysia to help SMEs and micro firms tackle short-term cash-flow problems.