Hong Leong Bank began its operations in 1905 in Kuching, Sarawak, under the name of Kwong Lee Mortgage & Remittance Company.

The Depression caused a sharp fall in the export earnings of commodities and many business concerns, including some banks, were in financial difficulties.

Kwong Lee Mortgage and Remittance Company survived all these setbacks because of its strong cash reserves and its conservative operational policy.

In late 1977, Yang Amat Mulia Tunku Osman Ibni Tunku Temenggong Ahmad, a member of the royal family from the State of Johor, came in as a shareholder of the bank and acquired 30% of its share capital from both OCBC Bank and the Lam family.

The acquisition of MUI Bank Berhad by Hong Leong Group Malaysia (which is controlled by Malaysian business tycoon Quek Leng Chan) followed shortly after an aborted takeover attempt by another Malaysian tycoon Tan Sri Dato Vincent Tan Chee Yioun (through his vehicle Berjaya Corporation).

HLBB was listed on the Kuala Lumpur Stock Exchange on 17 October 1994 with its total paid-up capital enlarged to RM 470 million.

Principal business activities include the provision of banking such as deposit and loan services covering business current account, interest-bearing auto-sweep as well as fixed deposit, and financing options ranging from asset acquisition, working capital, and debt capital market structures, for corporate, commercial and SME client base.

HLISB said it had collaborated with Hong Leong Islamic Asset Management (HLISAM) for the PIA-i to offer its customers the opportunity and accessibility to invest in Shariah-compliant unit trusts funds on a digital platform.

[9] In February 2013, the bank had embarked on a rationalization exercise as part of its continuing efforts to review its business and maintain competitiveness.

[10] As part of the exercise involves transfer non-executive staffs from all over the country to three centralized locations, it created dissatisfactions amongst affected employees.