MANAGEMENT consultant A.T. Kearney, Inc sees small and medium scale enterprises (SMEs) lending to be a key driver for growth in the Malaysian banking industry and offers significant opportunities to banks, according to vice-president and head of financial institutions group for South-East Asia and India, John Meinhold.
“There is significant potential for loans growth to SMEs as they only account for 30% of total loans while SME-related sectors consistently account for over 50% of the Malaysian economy, with manufacturing taking up the biggest share,” he said at a breakfast briefing on Critical Success Factors for Growing the SME Business in Malaysia, organised with Institute of Banks Malaysia in Kuala Lumpur on Tuesday.
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