KUALA LUMPUR: Despite the challenging economic environment, Alliance Bank (M) Bhd is optimistic of a loans growth of 20% for the small and medium enterprise segment through new innovative products expected to enter the market by year-end.
"Last year, the loans growth for the SME segment stood at 19.7% and we will see what can be done this year by making our balance sheet more efficient.
"We want to get to as close as possible to 20% in loans growth," Group Chief Executive Officer Joel Kornreich told reporters after the launch of the fourth SME Innovation Challenge 2016 programme on Friday.
On the programme, he said young SMEs who have been in business for up to three years can submit their business plans online at www.bizsmart.com.my from now until Sept 5, 2016.
"For this year, we are tripling the number from 20 to 60 Malaysian start-ups where they will get to undergo structured learning and obtain insights from seasoned players and networking opportunities with each other, before the final 20 is selected.
"Our mission is to support the nation's entrepreneurs, from the very beginning of their journey, so that they can grow successfully," he said, adding that there were prizes worth RM1mil up for grabs. - Bernama