By TMR / Pic By ISMAIL CHE RUS
RHB Bank Bhd targets to grant RM31 billion in new and additional financing for small and medium enterprises (SMEs) by 2021.
The bank said this is part of its effort to provide SMEs with easy access to financing, in line with the government’s push to spur greater SME economic participation.
“We have approved RM7.2 billion in 2018 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 approximately 18,000 SMEs,” RHB group MD Datuk Khairussaleh Ramli (picture) told during a press conference at the group’s AGM yesterday.
He added that the aim is to provide SMEs with services that are beyond the granting of credit facilities.
To date, RHB has connected more than 100,000 SMEs through its cash management solutions and SME e-solution which includes payroll and accounting solutions.
Through the SME ecosystem, the group is poised to connect to 15,000 new SMEs in 2019. — TMR