Cambodia's most transformed bank 2022: Hong Leong Bank (Cambodia)
Hong Leong Bank (Cambodia)
Hong Leong Bank has come a long way since it received its operating licence for Cambodia in August 2013, becoming the newest Malaysian bank to enter the country. Already it has made clear its ambitions and plans for growth in the country.
Hong Leong Bank (Cambodia), led by chief executive Terrence Teoh Yih Min, is Asiamoney’s pick for most transformed bank in the country. Take a look at the numbers. In 2021, HLB reported income of $17.3 million in Cambodia, up 13.3% year on year. Loan growth rose 28.5% to $112 million, while deposits grew 27.5% to $96 million. The bank made record profits before tax of $6.6 million last year, despite the effects of the pandemic.
Then there is HLB’s strategy in differentiating itself and making sure it is relevant to clients in Cambodia’s overbanked market.
HLB has also found a niche in the SME lending market. While most banks in Cambodia can offer loans of less than $5 million, their appetite for anything bigger is limited.