Thursday 28 Mar 2024
By
main news image

KUALA LUMPUR (April 24): RHB Bank Bhd is targeting RM31 billion in new and additional financing for small and medium enterprises (SMEs) by 2021.

This is part of the bank's effort to provide SMEs with easy access to financing, in line with the government's push to spur greater SME economic participation.

"We approved RM7.2 billion in new loans to SMEs last year to support the growth of more than 4,000 SMEs in Malaysia. In the next three years, we target to grant more than RM31 billion in new and additional financing, which will benefit about 18,000 SMEs," RHB Bank group managing director Datuk Khairussaleh Ramli told a press conference here today.

"Our aim is to provide SMEs with services that are beyond the granting of credit facilities, but also to provide them with a holistic ecosystem that are able to offer targeted and innovative products and value added services that will allow them to focus on growing their business," he added.

Khairussaleh said RHB Bank is hopeful to climb a notch higher at third place in terms of the SME segment soon. To-date, the bank ranked No. 4 in the SME segment, with a market share of 9.06%.

At the midday break, RHB Bank shares were up 5 sen or 0.87% at RM5.80, with 1.72 million shares done, bringing a market capitalisation of RM23.26 billion.

      Print
      Text Size
      Share