HLB allocates capex of between 60-70% for digitisation in FY20

Hong Leong Bank group managing director and CEO Domenic Fuda said:

KUALA LUMPUR: Hong Leong Bank Bhd (HLB) is allocating between 60 per cent and 70 per cent of its total capital expenditure (Capex) of RM220 million for the financial year ending June 30, 2020 (FY20), for digital capabilities enhancement and initiatives.

Speaking to reporters after the launch of the bank’s Digital Day today, HLB group managing director and chief executive officer Domenic Fuda said there was growing customer adoption of its digital platforms.

He said this was alongside an unrelenting focus on driving the country’s cashless movement forward by providing convenience as a core  value within the bank’s entire suite of digital-led cashless ecosystem solutions for consumers and businesses.

“We made significant progress year-on-year on the growth in digital transactions. In FY2018, we saw an about 20 per cent to 25 per cent growth in people utilising the digital and mobile platforms for banking transactions.

“ For this year, we probably target about the same,” Fuda added. - Bernama