Latest news with #ForeignCurrency
Yahoo
10-06-2025
- Business
- Yahoo
Hong Leong Bank Named 'Best SME Bank in Malaysia' by The Asian Banker, Driven by Strong Loan Growth Rate and Customer-Focused Innovations
KUALA LUMPUR, Malaysia, June 10, 2025 /PRNewswire/ -- Building on its consistent excellence and deep commitment to the SME ecosystem, Hong Leong Bank ("HLB" or "the Bank") has been named the Best SME Bank in Malaysia for the sixth time at The Asian Banker Global Excellence in Retail Finance Awards 2025. This accolade is a testament to HLB's enduring history of delivering industry-leading SME banking solutions that serve its customers' diversified needs. The Bank continues to record strong strides in its SME banking sector, achieving a commendable 8.5% year-on-year ("y-o-y") growth in SME loans and expanding the Bank's SME loan book to RM36 billion as of March 2025. This sustained growth has also strengthened HLB's overall performance, with SME banking now contributing 12.1% to the total Bank's revenue and Profit Before Tax (PBT) rising to 12.6% in March 2025. According to Kevin Lam, Group Managing Director and CEO of HLB, the strength of the Bank's SME segment highlights HLB's commitment to supporting its customers towards achieving their business objectives. "The global economic landscape is characterised by continuous change, presenting businesses with a spectrum of opportunities and complexities as we witness the unfolding of a 'new trade world order'. And on these geoeconomic crossroads, we believe in proactively equipping our SME customers with the necessary resources and strategic support, regardless of global shifts in trade or market sentiment. The consistent positive momentum within our SME banking segment is powerful evidence of our commitment, demonstrating the strength of our long-term partnerships with our customers, enabling them to confidently pursue their diversified business objectives with our comprehensive suite of bespoke business banking solutions." HLB's recognition as the Best SME Bank in Malaysia reflects its comprehensive approach to supporting its SME customers, combining digital innovation and tailored solutions to ensure a seamless customer experience boosted by strategically-integrated digital efficiencies. Expanding on the Bank's own tablet-based onboarding feature, one key advancement in HLB's business banking solutions is the Partnership Onboarding feature, which allows SME customers to onboard partnership entities directly in-branch, providing more flexibility and convenience for partnerships seeking banking services with HLB while allowing the Bank to accommodate a wider range of business structures. The in-branch tablet-based onboarding feature can now also be used to support the opening of Foreign Currency Accounts ("FCA"), providing further convenience for businesses dealing in foreign markets. HLB has also enabled businesses to validate their LHDN registration number via an LHDN API, allowing customers to make statutory payments through the Hong Leong ConnectFirst ("HLCF") platform. With this enhancement, customers can conveniently register their LHDN number directly at HLB branches, simplifying compliance with regulatory requirements. According to Yow Kuan Tuck, HLB's Managing Director of Business & Corporate Banking, the consistent positive growth among HLB's SME segment underscores its dedication to designing tailor-made banking solutions that are innovative, efficient, and cater to customers' unique business needs. "HLB has a long history of working closely with our customers to deliver tailor-made solutions that cater specifically to their diversified business needs. In supporting our SME customers in their business growth, we have consistently integrated technological advancements and innovative digital solutions to simplify certain processes and execute tasks more efficiently and effectively. From introducing the in-branch tablet-onboarding feature, to launching our digital business banking platform and integrating features such as cash flow analytics and automated transactions, our banking solutions serve to empower SMEs to scale, pivot, and compete in today's economy." This latest accolade builds on the Bank's previous win in 2023, and this consistency has also been celebrated across the industry, notably with HLB being named Best SME Bank in Malaysia for three consecutive years at the Asian Banking & Finance Retail Banking Awards, and receiving top honours at the Euromoney Awards for Excellence 2024. To know more about HLB's SME banking solutions, please visit: View original content to download multimedia: SOURCE Hong Leong Bank Berhad
Mint
13-05-2025
- Business
- Mint
625% rally in five years! Multibagger stock Kellton Tech Solutions share price edges higher despite stock market crash.
Stock Market Today: Having risen 625% rally in five years, the Multibagger stock Kellton Tech Solutions share price gained higher on Tuesday despite stock market crash. Here's why Kellton Tech Solutions intimated the National Stock Exchange of India and the BSE Ltd on Tuesday 13 , May 2025 about the outcome of the Board meeting. The Board of Directors of Kellton Tech Solutions gave Approval of $ 10,000,000 of 6.50% Senior Unsecured foreign currency convertible bonds due 2035 of Kellton Tech Solutions Limited ("FCCBs") Kellton Tech Solutions had intimation on May 08, 2025, about having obtained the approval of the members of the Company through Postal Ballot conducted between December 23, 2024 and January 22, 2025, for the proposed issuance of foreign currency convertible bonds (FCCBs). Kellton Tech Solutions said based on the In-principle approvals granted by BSE Limited and National Stock Exchange of India Limited on February 20, 2025, the Board of Directors of the Company, at its meeting held on May 13, 2025, has, considered and approved the matters in connection with the aforesaid offering, While the Board approved the Issuance of $ 10,000,000 6.50% senior unsecured foreign currency convertible bonds due 2035 of Kellton Tech Solutions Limited ("FCCBs"), it also approved the 'Relevant Date' for the purpose of the Issue of FCCBs as May 13, 2025 in accordance with the Issue of Foreign Currency Convertible Bonds and Ordinary Shares Regulatory Floor Price Also the regulatory floor price as determined in accordance with the FCCBs Guidelines is Rs.107.00, the Final identification of investors and other associated matters shall be subject to the outcome of the open offer process, and the same shall be intimated in due course , said Kellton Tech Solutions Kellton Tech Solutions share price opened at ₹ 111.35 on the BSE on Tuesday at at the time of opening was trading higher compared to previous day's closing price of ₹ 109.95. The Kellton Tech Solutions share price thereafter gained to intraday highs of 112.30, which meant gains of more than 2% on a day when Sensex was down more than 1.5% down amid stock market crash. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
