Hong Leong Bank is listed on Bursa Malaysia Berhad and forms part of the Hong Leong Group. Headquartered in Kuala Lumpur, the Bank has a strong Malaysian entrepreneurship heritage of 118 years. Today the Bank is Malaysia’s fifth largest banking group by assets with RM 279.9 billion in assets as at 30 June 2023.
Rooted in a century-old legacy, their purpose drives to make a tangible difference to their customers and society. They are continuously building through their sustainability themes; Digital at the Core, Workforce Readiness, Socially Responsible Business, Environmental Management and Community Investment.
The net profit of Hong Leong Bank Berhad increased in FY2023 to RM3.81 billion from RM3.28 billion during the previous financial year.
The year on year net profit growth at Hong Leong Bank Berhad is at 16.08%.
The Group declared a dividend payout ratio of 32% during FY2023.
Hong Leong Bank reported a zakat contribution of RM350,000 in FY2023.
Total cash contributions made by Hong Leong Bank Berhad during FY2023 could not be computed as it was not disclosed in their annual and sustainability reports.
Total in-kind contributions made by Hong Leong Bank Berhad during FY2023 was not specified in their annual and sustainability report.
The total employee volunteer hours reported by Hong Leong Bank Berhad in FY2023 is 7,943 hours.
No. | Contribution | Based on Previous Yr | Cash Giving | In-kind Giving | Employee Volunteer Hours | Beneficiaries | Recurring Amount | Recurring Beneficiaries | |
---|---|---|---|---|---|---|---|---|---|
1 | HLB x Smart Reader | N/A | Financial Literacy Programme | N/A | 1,789 students | HLB x Smart Reader® Worldwide “DuitSmart Kids” Enters Malaysia Book of Records for “Most Students Graduated From A Financial Literacy Programme”. In an effort to equip students with essential financial knowledge and money management skills, HLB collaborated with Smart Reader® Worldwide to organise DuitSmart Kids programme, which is designed to empower the next generation with the knowledge and tools to build their own secure financial future. As a part of the HLB DuitSmart platform, a flagship initiative from the Bank to provide financial literacy and inclusion workshops to various segments of society, a record-breaking 1,789 students graduated from the DuitSmart Kids financial literacy programme in July 2023. | |||
2 | HLB Jumpstart - SURI | N/A | Denim upcycling | N/A | 40 single mothers | SURI focuses on denim upcycling. They turn used denim materials into fashionable bags, purses, plush pillows, designer-inspired denim slippers, kimonos, and even T-shirts. SURI currently employs 40 single mothers from the Klang community, empowering and equipping them with job skills and financial independence. Since partnering with SURI, they have experienced a 29% increase in sales for FY2023, sold 819% more bags than in FY2022 (totaling 47,433), and provided job opportunities to 40 single mothers. | Similar | ||
3 | HLB Jumpstart - GREEN HERO | N/A | Recycling | N/A | Community | Green Hero operates an online F&B business selling surplus food at a reasonable price. This ensures that food waste is reduced, and the less privileged community have access to nutritious food at an affordable price. Since partnering with GREEN HERO, they have seen a 271% increase in sales and saved 104,882 meals from landfills, marking a 6,012% growth since inception. | Increase | ||
4 | HLB Jumpstart - COFFEE FOR GOOD | N/A | Upskilling Programme | N/A | 10 youths | Coffee For Good aims to remove barriers faced by underserved youth in acquiring job skills and opportunities in the F&B industry. They provide trainings and employment opportunities to these aspiring youth to be skilled coffee baristas. Since partnering with COFFEE FOR GOOD, HLB have doubled their average daily sales to RM32,094 and provided training to 10 youths from the B40 community. | Increase | ||
5 | HLB Jumpstart - THE ASLI CO. | N/A | Upskilling Programme | N/A | 70 mothers | The Asli Co. aspires to empower indigenous mothers with a long term goal to uplift them from poverty and support their children’s education. Currently, 42 Orang Asli mothers have been trained to produce and sell artisan soaps, indoor succulent pots, WHO-compliant fabric masks, hand sanitisers, disinfectant sprays, among others. Since partnering with THE ASLI CO, they have seen a 402% increase in sales and provided job opportunities to 70 mothers from the Orang Asli community. | |||
6 | HLB Jumpstart - BENAK RAYA | N/A | Upskilling Programme | 29 villagers | Benak Raya Enterprise preserves the heritage of traditional Simanggang rice farming by uplifting the Iban farming community and providing them with a sustainable income. They currently employ 16 villagers within the local B40 farming community in rural areas, and a diverse range of rice-based products have been produced including beverages, beauty products and rice straws. Since partnering with BENAK RAYA, they have experienced a 114% increase in sales and provided job opportunities to 29 villagers. | ||||
7 | DuitSmart | N/A | 67 sessions | N/A | 2,497 students | HLB conducted 67 Duitsmart sessions and engaged with 2,497 students from primary, secondary and tertiary level. | Increase | ||
8 | DuitSmart | N/A | N/A | N/A | 47 single mothers, 33 working adults, 55000 PWD | HLB conducted six sessions for 47 single mothers and 33 working adults, and recorded 30 financial literacy audio programs, which were distributed to 55,000 members of the blind community. | |||
9 | DuitSmart | N/A | N/A | N/A | Beneficiaries | Hong Leong Bank developed 39 bite-sized digital content pieces with a collective reach of 440,000, generating 3.19 million engagements and 3.42 million views. | |||
10 | Employee volunteer hours | N/A | N/A | 7,943 | Beneficiaries | In FY2023, 443 HLB employees have volunteered in various community activities which contributed to a total of 7,943 volunteering hours. | |||
11 | Employee Donation | RM0.03M | N/A | N/A | Beneficiaries | Under the Festive (Community) pillar, Hong Leong Bank collected a total of RM 31,524.30 from their employees. This generous contribution was used to purchase meals for shelters and homes during festive seasons. Specifically, Hong Leong Bank provided 132 meals for Deepavali 2022, which cost RM 11,812.30; 100 meals for Chinese New Year 2023, totaling RM 10,000.00; and 100 meals for Raya 2023, amounting to RM 9,712.00. In total, Hong Leong Bank distributed 332 meals across these celebrations. | |||
12 | HLB@School | N/A | N/A | N/A | 16 schools | HLB@School continued to support the digital transformation of schools in Malaysia by providing cashless payments, digital banking tools and financial infrastructure to schools and students. Notably, HLB@School transformed 16 schools in Kota Kinabalu in December 2022, the most digitally transformed school in a region. | |||
13 | HLB@Kampung | N/A | N/A | N/A | Community | Assisted in the launching of Visit Sekinchan Year 2023 under HLB@Kampung, after the small town started using the digital payment tools rolled out the Bank. |
1. The numerical value for total cash and in-kind giving was calculated based on individual monetary mentions in the Annual and Sustainability report.
2. The information above is derived from Hong Leong Bank Berhad’s 2023 Annual and Sustainability Report. Email correspondence was made between 12 June – 30 July 2024 to seek further clarification, however, no reply was received.
This independent report is produced without sponsorship from any organisation. The objective of the Bursa Top 20 is to promote philanthropy and encourage charitable giving among for-profit organisations.
Hong Leong Bank Berhad’s cash and in-kind contributions for FY2023 were not able to be computed because the amount was not specified in their annual and sustainability report. However, Hong Leong Bank’s contributions were mostly towards Educational initiatives at 66.7% followed by Community Development at 16.7%. A large portion of initiatives by HLB is towards Educational initiatives contributed by their ongoing programme, Jumpstart and also multiple financial literacy programmes including DuitSmart and HLB x Smart Reader. Most of HLB’s givings are targeted towards Youth beneficiaries at 33.3% followed by the Community making up 25% then Orang Asli/Asal at 16.7%. Lastly, HLB reported a total of 7,943 employee volunteer hours in FY2023.
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