KUALA LUMPUR, Jan 11 – SME Bank aims to approve RM2.5 billion in financing for over 1,000 small and medium enterprises (SMEs) this year.
Group president and chief executive officer Datuk Wira Aria Putera Ismail said SME Bank had approved RM2.7 billion in financing last year, with around 90 per cent directed towards SMEs.
“For the current year, RM2.5 billion is designated for SMEs, with the remaining funds directed towards commercial financing.
“Our primary focus is on SMEs encountering challenges in securing financing from traditional banks,” he said during a visit by Deputy Minister of Entrepreneur Development and Cooperatives Datuk Ramanan Ramakrishnan to SME Bank’s headquarters here today.
Aria identified key sectors for targeted financing, including technology, healthcare, construction, and services sectors recognised by the government for their high-growth potential.
Additionally, SME Bank aims to prioritise entrepreneurial empowerment programmes in 2024, expanding markets globally, including the United Kingdom and Europe.
“In every interaction with SMEs in the market, our approach encompasses various facets: firstly, financing; secondly, capacity building.
“Furthermore, for ventures into export markets, we emphasise an additional element, facilitating market access,” he added.
Ramanan, meanwhile, said the total approved growth target for this year is expected to be around RM3.5 to RM4 billion.
“RM3.5 billion to RM4 billion worth of growth approval will be issued from SME Bank. From that amount, RM2.5 billion is for SMEs, and the remaining RM1.5 billion is for commercial financing including environmental, social, and corporate governance development.
“There will be also an allocation for SMEs to penetrate international markets and cross-border programmes,” he said.
