The Hong Leong Bank Story
Hong Leong Bank, a public listed company on the Malaysian Stock Exchange, is a member of the Hong Leong Group (the Group). Headquartered in Malaysia, the Group has been in the financial services industry since 1968 through Hong Leong Finance Berhad and since 1982 through Dao Heng Bank Ltd in Hong Kong. Dao Heng Bank Ltd has since been sold to another banking institution. Today, the Group comprises a total of 14 listed companies worldwide with a combined market capitalization in excess of USD11 billion. With more than 100 years of banking knowledge and experience, Hong Leong Bank has a strong market position and well-recognized business franchise. Hong Leong Bank, one of the leading local banks in Malaysia, has won many recognitions and accolades over the years: the Finance Asia 2002 Asia's Best Companies Award, the KPMG 2003 Shareholder Value Award, the CGC Top SMI Supporter Award 2004, the Asian Banker's Best Credit Card Product Award 2006 and the Best E-Banking Project 2007. In 2004, the finance company business of Hong Leong Finance Berhad was acquired by Hong Leong Bank. Today, the enlarged, merged entity has over 185 branches in Malaysia, Singapore and Hong Kong.
Analysis of HLB’s Mission Statement
A mission statement is an official, written declaration that defines the fundamental function of a business, its values and goals. Mission statements are designed to be used as a guide to develop company strategies. Unfortunately, it is surprised to find out that Hong Leong Bank only possesses a vision statement but not both vision and mission statement. Their vision statement is “An Outstanding Financial Services Organization, Highly Competitive and Profitable, Where People Make the Difference”. Hence, I would like to create a mission statement for Hong Leong Bank. For instance, the mission statement will be “Hong Leong Bank will be the preferred provider of targeted financial service in our communities based on strong customer...
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