Hong Leong Bank
A Malaysian-listed banking group with retail, commercial, corporate, Islamic and investment-banking operations across Malaysia and selected Asian markets.
Last updated August 31, 2026
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Overview
Hong Leong Bank is a Malaysian public-listed banking group and a member of the Hong Leong Group. Its modern identity developed through the transformation of a Sarawak-based financial business founded in 1905 into a nationwide Malaysian bank with regional operations. The institution began as Kwong Lee Mortgage & Remittance Company in Kuching, providing loans secured by export commodities such as pepper and rubber and remittance services for overseas Chinese communities. It later became Kwong Lee Bank, passed through ownership by Oversea-Chinese Banking Corporation and the MUI Group, and was acquired by the Hong Leong Group in 1994. The bank serves individuals, small businesses, commercial enterprises, corporations and institutional customers. Personal-banking activities include deposits, remittances, property and automobile financing, personal loans, payment products, share financing, investment products and insurance-related services. For business and corporate clients, the bank provides current accounts, fixed deposits, working-capital facilities, asset-acquisition finance, debt-capital-market structures, trade finance, cash management and other transaction-banking services. Through Hong Leong Islamic Bank, it also offers Shariah-compliant financial products. The Portfolio Investment Account, or PIA-i, was introduced as a digital restricted investment account linked to Shariah-compliant unit-trust investments in collaboration with Hong Leong Islamic Asset Management. Hong Leong Bank's domestic scale expanded through the merger with Wah Tat Bank and the combination of Hong Leong Finance with Credit Corporation Malaysia in 2001. Its most significant subsequent transaction was the 2011 acquisition of the assets and liabilities of EON Capital's EON Bank. The transaction increased the group's branch and balance-sheet scale and made Hong Leong Bank one of Malaysia's major banking institutions. The group has maintained a regional presence through operations in Singapore, Hong Kong, Vietnam and Cambodia, as well as a consumer-finance joint venture in China with Bank of Chengdu. Its positioning combines conventional commercial banking with Islamic banking, digital delivery and a broad range of consumer and corporate financial services. The bank remains active under the Hong Leong brand and is listed in Malaysia under the ticker HLBK.
History
Hong Leong Bank traces its origins to 1905, when Cantonese brothers Lam Tee Chew and Lam Song Khee established Kwong Lee Mortgage & Remittance Company in Kuching, Sarawak. The early business operated in an environment shaped by commodity exports and migration across Southeast Asia. It lent against commodities including pepper, rubber and other indigenous products, while also remitting money from overseas Chinese residents to relatives in southern China. The business survived several difficult economic periods, including the disruption associated with the First World War, the recession of 1920–1921 and the Great Depression of 1929–1933. Its conservative operating approach and cash position helped it continue operating while declining commodity prices and export earnings placed pressure on businesses and financial institutions. The company opened a branch in Sibu in 1923 and another in Singapore in 1926. On 26 October 1934, it was converted into a public company and renamed Kwong Lee Bank. A Sarikei branch followed in 1937. The Second World War disrupted the region's currency and banking systems. During the post-war reconstruction period, Kwong Lee Bank supported the restoration of commercial activity by financing the reopening of existing businesses and the creation of new ones. Its branch network continued to develop, including a new branch in Bintangor in 1973. In 1964, Oversea-Chinese Banking Corporation acquired a 52% majority interest from the Lam family, bringing the bank under a major Singaporean banking group. A change in ownership and strategic direction began in the late 1970s. Tunku Osman Ibni Tunku Temenggong Ahmad acquired a substantial shareholding in 1977. Kwong Lee Bank then began expanding from its established Sarawak and Singapore base into Peninsular Malaysia. It opened branches in Kuala Lumpur and Johor Bahru in May 1978 and added locations in Labis, Segamat, Bintulu, Kota Tinggi, Kota Kinabalu and Kluang over the following four years. The head office moved from Kuching to Kuala Lumpur on 1 January 1982. In May 1982, the MUI Group acquired Kwong Lee Bank. The bank was renamed Malayan United Bank Berhad in February 1983 and subsequently became MUI Bank Berhad. Under MUI ownership, the branch network grew from 11 locations, including Singapore, to 35. Hong Leong Group Malaysia acquired MUI Bank through Hong Leong Credit on 3 January 1994 and adopted the Hong Leong Bank Berhad name. The bank was listed on the Kuala Lumpur Stock Exchange on 17 October 1994 after its paid-up capital was increased. The next phase centered on consolidation. Hong Leong Bank merged with Wah Tat Bank, while Hong Leong Finance was combined with Credit Corporation Malaysia; both transactions were completed on 1 January 2001. These changes created a larger financial-services platform within the Hong Leong Group, whose other business interests include manufacturing, property and infrastructure development. Hong Leong Bank subsequently developed a broader Asian footprint. In China, it formed Sichuan Jincheng Consumer Finance with Bank of Chengdu in 2010, holding 49% of the consumer-finance joint venture. The bank's most consequential Malaysian expansion came in 2011, when it completed the acquisition of EON Capital's assets and liabilities and integrated EON Bank into the group. The legal vesting was completed in approximately eight weeks, creating a combined institution described at the time as Malaysia's fourth-largest bank by assets, with more than RM140 billion in assets and 329 branches. In its current form, Hong Leong Bank combines Malaysian retail, SME, commercial and corporate banking with investment banking, transaction banking and Islamic-finance activities. Its subsidiaries and branches extend the brand into Singapore, Hong Kong, Vietnam, Cambodia and China. The group has also pursued digital financial services, including the Portfolio Investment Account-i offered by Hong Leong Islamic Bank in cooperation with Hong Leong Islamic Asset Management. The bank remains a listed Malaysian banking group operating under the wider Hong Leong Group.
- 2011
EON Bank integration
[1]The acquisition of EON Capital's assets and liabilities brought EON Bank into Hong Leong Bank Group.
- 2010
Chinese consumer-finance joint venture
[1]Hong Leong Bank and Bank of Chengdu established Sichuan Jincheng Consumer Finance in China.
- 2001
Merger with Wah Tat Bank
[1]The merger with Wah Tat Bank and related finance-company consolidation enlarged the banking group.
- 1994
Hong Leong Group acquisition and listing
[1]Hong Leong Group acquired MUI Bank, renamed it Hong Leong Bank Berhad and listed it on the Kuala Lumpur Stock Exchange.
- 1983
Renamed MUI Bank
[1]After MUI Group's acquisition, the institution moved through the Malayan United Bank name before becoming MUI Bank Berhad.
- 1982
Head office relocates to Kuala Lumpur
[1]The bank moved its head office from Kuching to Kuala Lumpur as its Malaysian footprint broadened.
- 1978
Expansion into Peninsular Malaysia
[1]Branches opened in Kuala Lumpur and Johor Bahru, beginning a significant national expansion.
- 1964
OCBC takes majority ownership
[1]Oversea-Chinese Banking Corporation acquired a 52% stake in Kwong Lee Bank.
- 1934
Conversion into Kwong Lee Bank
[1]The mortgage and remittance company became a public company under the Kwong Lee Bank name.
- 1926
Singapore branch opens
[1]The institution established an early cross-border presence by opening a Singapore branch.
Products and positioning
A full-service Malaysian banking group emphasizing broad commercial coverage, regional reach, Islamic finance and digital banking delivery.
Retail banking
Personal banking
Hong Leong Bank's personal-banking range covers deposit accounts, remittances, property and home financing, automobile loans, personal loans, credit and payment products, share financing, investment products and insurance-related services. These offerings address everyday payments, savings, borrowing and personal wealth needs.
Commercial and corporate banking
Business and corporate banking
Business and corporate clients can access current accounts, fixed deposits, working-capital facilities, asset-acquisition financing, debt-capital-market structures and other lending services. The bank also provides transaction banking, cash management and trade-finance services for commercial, SME and corporate customers.
Islamic banking
Hong Leong Islamic Bank services
Hong Leong Islamic Bank extends the group's activities into Shariah-compliant banking and investment products. Its services are intended for customers seeking Islamic financing, deposits and investment structures within the wider Hong Leong banking ecosystem.
Digital investment account
Portfolio Investment Account-i
Portfolio Investment Account-i is a digital restricted investment account introduced by Hong Leong Islamic Bank in collaboration with Hong Leong Islamic Asset Management. It provides digital access to Shariah-compliant unit-trust funds and combines Islamic investment selection with online account functionality.
Brand decisions
2013
Workforce rationalization exerciseStrategyBackground
The bank reviewed its operating model and sought to maintain competitiveness through greater centralization of selected non-executive functions.
Action taken
Some non-executive employees were asked to transfer from locations around Malaysia to three centralized sites.
Aftermath
The move generated employee dissatisfaction, a picket at Wisma Hong Leong and Industrial Court referrals involving alleged wrongful dismissal of 27 employees.
2011
Acquisition of EON BankM&ABackground
Hong Leong Bank pursued a major domestic expansion to increase its scale and branch presence.
Action taken
The group acquired and legally vested the assets and liabilities of EON Capital's EON Bank business into Hong Leong Bank.
Aftermath
The combined institution became one of Malaysia's largest banks, with the reference material describing more than RM140 billion in assets and 329 branches at the time.
Combined assets and branches. More than RM140 billion in assets and 329 branches (2011)
2010
Sichuan Jincheng Consumer Finance joint ventureM&ABackground
Hong Leong Bank pursued consumer-finance opportunities in central and western China.
Action taken
It formed Sichuan Jincheng Consumer Finance with Bank of Chengdu, retaining a 49% stake.
Aftermath
The joint venture gave Hong Leong Bank a vehicle for consumer-finance operations in China.
2001
Banking-group consolidationM&ABackground
Malaysian banking-sector consolidation created pressure for institutions to combine operations and strengthen scale.
Action taken
Hong Leong Bank merged with Wah Tat Bank, while Hong Leong Finance was combined with Credit Corporation Malaysia.
Aftermath
The completed transactions produced a larger consolidated banking group within Hong Leong Group.
1994
Hong Leong Group acquires MUI BankM&ABackground
Hong Leong Group Malaysia sought to build its financial-services platform through the acquisition of MUI Bank.
Action taken
Hong Leong Credit acquired MUI Bank and changed its name to Hong Leong Bank Berhad.
Aftermath
The bank was listed later in 1994 and became the core banking institution of the Hong Leong financial-services group.
1982
Acquisition by MUI GroupM&ABackground
Kwong Lee Bank was acquired as part of a change in ownership and a broader expansion of its Malaysian banking activities.
Action taken
MUI Group acquired the bank, which was subsequently renamed Malayan United Bank Berhad and then MUI Bank Berhad.
Aftermath
The bank expanded its network under MUI ownership before later being acquired by Hong Leong Group.
Recent events
Hong Leong Bank runs Suara-Suara Raya campaign[3]
Reported:
Hong Leong Bank's Suara-Suara Raya campaign ran from April 27 to June 11, 2021, featuring customer rewards and promotions, a festive video, and a planned live concert with local buskers.
Sources3 sources
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