Hong Leong Bank (MYX: 5819) Is A Malaysian Multinational Bank And One Of The Top Five Banks In Malaysia, With More Than 300 Branches Across The Country. Hong Leong Bank Berhad Is A Regional Financial Services Company Based In Malaysia And Expanding To Singapore, Hong Kong, Vietnam, Cambodia And China. The Bank Is Technology-centric And Focuses On Developing Financial Capabilities To Serve Clients In Five Regions.
History
Origins
In 1905, The Predecessor Of Hong Leong Bank, "Kwong Lee Mortgage & Remittance Company", Was Established In Kuching, Sarawak And Renamed "Kwong Lee Bank" In 1934. It Is The Oldest Local Traditional Financial Institution Group In Malaysia. After Being Acquired By MUI Group In May 1982, Kwong Lee Bank Was Renamed "MUI Bank Berhad" On February 2, 1983 And "MUI Bank" In 1989. Under The MUI Bank Banner, Its Branches Across The Country Increased From 11 To 35.
Renamed Hong Leong Bank
On January 3, 1994, Hong Leong Group Acquired MUI Bank Through Hong Leong Credit Berhad (now Hong Leong Financial Group), Renamed Hong Leong Bank Berhad, And Listed On The Kuala Lumpur Stock Exchange (now Bourse Malaysia) On October 17, 1994. Since Then, Hong Leong Bank Has Expanded Its Business Significantly Through Mergers And Acquisitions. After Merging With EON Bank Group In 2011, It Has Become One Of The Top Five Banking Groups In Malaysia, With Assets Exceeding RM180 Billion As Of June 30, 2016.
Acquisition Of Bank Of Chengdu
Hong Leong Bank Became The First Malaysian Bank To Enter The Chinese Market In 2008 By Acquiring A 20% Strategic Stake In Bank Of Chengdu. In December Of The Same Year, Hong Leong Bank Became The First Malaysian And South East Asia Bank To Be Approved To Establish And Operate A 100% Wholly-owned Commercial Bank In Vietnam. In 2013, Hong Leong Bank Established A 100% Wholly-owned Commercial Bank In Cambodia And Established A Representative Office In Nanjing In November Of The Same Year.
Acquisition Of EON Bank
On May 6, 2011, Hong Leong Group Announced The Completion Of The Acquisition Of EON Bank, Officially Taking Over All The Assets And Liabilities Of EON Bank, And EON Bank Officially Became Part Of Hong Leong Bank. In The Next 8 Weeks, All Branches Of EON Bank Were Also Renamed Hong Leong Bank.
