Best SME Bank – Hong Leong Bank
The winning bank implements digital solutions to improve customer onboarding and reduce friction in small businesses. It offers solutions to boost sales capabilities for its SME clients. These include the BizBuddy and Merchant services for onboarding and payments and ConnectFirst for business operations.
These initiatives helped the bank to grow its loans to SMEs by 16% year-on-year to $6.6 billion, contributing to 18% of the bank’s total loan portfolio. The bank also reported a 17% growth in its balance sheet amounting to $2.8 billion in the first half of 2022 from 2021.
For its innovation, resilience, and unwavering commitment to SMEs, the Best SME Bank award goes to Hong Leong Bank