Hong Leong Finance (HLF) has made it to The Banker’s 2018 Top 1000 World Banks, ranking fifth among the New Arrivals that have joined the list for the first time. It marks a first for a Singapore finance company.
The 2018 New Arrivals list comprises 27 global banks from a total of 15 different markets including those in the Asean region.
The Banker is an economic and financial report by one of the world’s leading global business publication The Financial Times.
HLF secured fifth spot with US$1.23 billion in Tier 1 capital, a tool of measurement used by The Banker to map a bank’s financial strength, profitability and performance via shares and retained earnings.
The Banker also highlighted that it is the first time a Singaporean financial institution was featured among the new arrivals in a number of years. The Banker has a database of more than 5,000 banks.
HLF also made it to The Banker’s Asean Top 100 Banks, ranking 50 on the list. Together with DBS, UOB and OCBC, The Banker said Singapore reigns supreme among the Southeast Asian countries. This first-time achievement by The Banker is the latest of accolades won by HLF.
The year 2018 was a milestone of several firsts for HLF. The Edge, a business and financial publication in Singapore and Malaysia, said HLF was the best performer when measured by compound annual earnings growth and scored the ‘Fastest-Growing Company’ award in the finance sector.
At the 2018 Asian Banking and Finance Awards, HLF picked up the inaugural ‘Mortgage and Home Loan Product of the Year - Singapore’ for its Mortgage Equity @ 50 programme that allows individuals to cash out on their private residential properties with low loan-to-value ratios and total debt servicing ratio exemption. HLF was also named ‘ASEAN Finance Company of the Year’ for the fifth consecutive time.
It made its mark at the 19th Investors’ Choice Awards by Securities Investors Association (Singapore) (SIAS) for the first time in 2018, clinching the ‘Runner Up’ title for the ‘Most Transparent Company’ in the Finance category. According to the judging panel, HLF scored top marks in transparency in key areas such as risks and remuneration disclosures, timely financial reports and financial announcements.
HLF President Mr Ang Tang Chor said, “We are very encouraged with the success that the year 2018 has brought us, especially with this recent accolade by The Banker. Together with the long-term support of our customers, we will continue to strive for a stronger performance and excel industry standards.”
