SME Bank okays RM30b fund to SMEs

by TMR/ pic by TMR FILE

SMALL Medium Enterprise Development Bank Malaysia Bhd (SME Bank) has approved RM30 billion in financing to more than 17,000 SMEs to date.

Group president and CEO Aria Putera Ismail said the bank is continuously engaging with stakeholders to develop and implement various programmes in bridging the financing gap of the unserved or underserved SMEs.

The recent AAA rating with a stable outlook accorded by the Malaysian Rating Corp Bhd (MARC) has confirmed SME Bank’s footing in taking the lead of nurturing and developing the SMEs, he said.

“With total contribution of 44.2% of development financial institution financing given to the SMEs, it (the AAA rating) has positioned SME Bank strongly as a key player in the market,” Aria said in a statement yesterday.

He said in line with the government’s socio-economic agenda, the National Entrepreneurship Policy 2030 (DKN 2030), many initiatives will be rolled out to empower the SMEs, especially the bottom 40 household income group.

“In realising DKN 2030’s main goal of making Malaysia as an entrepreneurial nation by 2030, SME Bank, through its subsidiary Centre for Entrepreneur Development and Research Sdn Bhd, has realigned its functions to ensure the SME entrepreneurs who undertake the training and coaching programmes are equipped with the right mindset, knowledge and skills in managing, sustaining and growing their business locally and globally,” he said.

He added that with the AAA rating given by MARC and the new direction undertaken by the leadership of SME Bank, the future of Malaysian SMEs is expected to be very positive as it strives to be the leading economic growth contributor to the nation.