KUALA LUMPUR, Aug 30 — Hong Leong Bank Bhd (HLB) aims to be among the top three banks in Malaysia within five years, said group managing director and chief executive officer Kevin Lam.

Lam said significant progress would be realised within the short term, encompassing around a year.

Looking ahead, he said the medium to long-term perspective suggested that substantial achievements would be seen within three to five years.

"The initial step involves familiarising ourselves with our personnel and our clientele.

"Through town hall meetings and engagements, I’ve observed the enthusiastic and knowledge-thirsty nature of the HLB staff, which has been truly heartening. This endeavour of acquainting myself with the team stands as one of my foremost priorities.

"Simultaneously, as we carry out these rounds of interactions, we’ve also dedicated time to connect with our customers, particularly those in the SME and commercial banking sectors,” he told reporters at the bank’s financial results 2023 briefing at Menara Hong Leong today.

Lam said that these short-term approaches, which span roughly six months to a year, would be pivotal to setting a clear trajectory for the bank.

He said that the bank is currently shaping an updated five-year strategic plan for presentation to the board within the next month.

"This plan will provide the roadmap for our direction, reflecting our commitment to refocus on key areas, refine our strategies, and instigate transformative changes to the bank’s operations,” he said.

Amidst these considerations, Lam said that the longer-term aim is to establish itself as a prominent player in the banking industry, especially in key growth areas such as wealth management, small and medium enterprises (SMEs) and environmental, social, and corporate governance-led (ESG) banking initiatives.

"We’re targeting not only banking size and profitability but also operational efficiency, return measures, and performance indicators such as return on equity, cost-income ratio, and current account savings account (Casa) ratio.

"This collective endeavour will enable us to emerge as a substantial presence in the segments we operate within. These substantial achievements will be seen within three to five years. These efforts represent our commitment to continuous improvement and growth,” he added. — Bernama