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Maybank aims strong growth in retail SME financing for 2015

[ 12-03-2015 ]
Maybank aims strong growth in retail SME financing for 2015

KUALA LUMPUR: Maybank is committed to see further growth in retail small and medium enterprise (SME) financing in 2015 after recording a strong 43% rise to RM7.5bil in 2014.

As at Dec 31, ember 2014, its business banking grew 6.5% while the group market share in the SME industry, in terms of financing stood at 20.4%. 

"As for SME Islamic financing, the growth was a strong 77% to RM3.4bil last year," Maybank Head of Group Islamic Banking Muzaffar Hisham said in a statement today. 

"The importance of SMEs in local communities and their economic contribution to the country cannot be underestimated. Their ability to succeed and grow underpins the future potential for jobs, growth and prosperity," Muzaffar, who is also Maybank Islamic Bhd chief executive officer said. 

"We at Maybank are more than happy to extend our products and services and play a role in turning the great business ideas of these SMEs into successful business stories," he said. 

In 2014, Maybank launched several SME products to support government initiatives in promoting and boosting the SME which is recognised as a key segment that contributes to the growth of the nation. 

Among them were a collaboration with CGC with a commitment of RM1bil of SME Portfolio Guarantee (PG) financing to SMEs, and with East Coast Economic Region to launch an entrepreneurship scheme. 

Meanwhile, Maybank Islamic also collaborated with the Bumiputera Agenda Steering Unit to provide a RM600mil funding to high-performing Bumiputera SMEs. 

The PG financing has benefited 2,133 entrepreneurs, of which 56% are Bumiputeras, with 31% of the disbursements in the form of Islamic financing.