KUALA LUMPUR (Dec 24): OCBC Bank (Malaysia) Bhd (OCBC Bank) has been named Malaysia’s “Bank of the Year” by London-based publication The Banker for the second consecutive year.

The recognition was attributed to the bank’s strong financial performance, including increases in operating profit, income growth and net interest margin, according to a statement.

In addition, The Banker highlighted OCBC Bank’s leadership in sustainability, noting that it was the first bank in Malaysia to develop specific plans to help businesses decarbonise. These initiatives were implemented through the Malaysian Green Technology and Climate Change Corporation’s online carbon management platform, the statement read. The bank was also commended for its outstanding social programmes, which achieved a remarkable staff volunteerism rate of over 90%, it said.

The publication also praised OCBC Bank’s efforts to enhance its Shariah-compliant banking services through various innovations in retail and consumer banking.

OCBC Bank, with a presence in Malaysia spanning over 90 years, is part of the Singapore-based OCBC Group, the second-largest banking group in the Asia-Pacific region by assets. This year, the OCBC Group also received accolades as “Bank of the Year” for Asia-Pacific and Indonesia.

“We are honoured to be named Bank of the Year for Malaysia by The Banker yet again. What is more gratifying this year is to be able to celebrate the award with our colleagues from the entire Asia Pacific region where we were recognised as the best as well for 2024,” said OCBC Bank chief executive officer Tan Chor Sen.

“The recognition affirms our on-going commitment to customer-centricity, sustainability, social responsibility, Islamic banking, digitalisation and SME development. It will spur us on to not just do more of what works for the communities we serve, but to keep challenging ourselves to excel and do even better. By enabling our people and communities to realise their aspirations every step of the way, we believe we will be entrenching ourselves as the bank for the communities we serve not just in Malaysia but the region as well,” Tan added.

The Banker’s “Bank of the Year” awards aim to recognise lenders that have grown while retaining a solid balance sheet, improved the quality of their service, invested in technology and considered their role within their local communities. The 2024 awards recognise excellence for banks in 127 countries.