RHB remains committed to supporting SMEs


"RHB adopts a holistic approach in assisting and supporting SMEs through the prolonged MCO period, by providing relief facilities and payment assistance, as well as working with out partners to enable SMEs build financial resilience," said RHB managing director of group community banking Jeffrey Ng

KUALA LUMPUR: RHB Banking Group has reiterated its commitment to provide financial support and other forms of assistance to SME customers, including microenterprises, while actively driving the acceleration of local activity in line with the gradual re-opening of the economy.

In a statement, the bank said many SMEs in various industries continue to require additional assistance to sustain business operations.

"RHB has therefore remained proactive in engaging directly with SME customers to better understand their concerns and expectations, and by playing an active role towards their recovery," it said.

Since the start of the pandemic, the bank has provided SMEs with more than RM20.3bil in financial assistance, comprising RM12bil in repayment/payment assistance and more than RM8.3bil in loans and financing facilities.

These include facilitating the smooth delivery of government-led relief financing facilities such as the Special Relief Facility and Targeted Relief and Recovery Facility.

RHB also continues to supplement wider recovery efforts through the RHB BizPower Relief Financing programme to provide even more SME businesses, especially those impacted by the prolonged Covid-19 pandemic, access to much-needed capital at affordable rates.

Recently, the bank launched its Retailer SME Relief Financing programme in partnership with shopping mall operators to provide a total of RM200mil in financing facilities with attractive terms to retailers impacted by the steep reduction in footfall due to the MCO.

"RHB adopts a holistic approach in assisting and supporting SMEs through the prolonged MCO period, by providing relief facilities and payment assistance, as well as working with our partners to enable SMEs build financial resilience.

"Since the start of the pandemic, we have provided various Covid-19 related financing facilities to almost 10,000 customers mounting to RM3.4bil, and as at Sept 22, 2021, the group has also provided repayment/payment assistance to close to 7,000 SMEs with loan and financing totaling RM12bil," said RHB Banking Group managing director of group community banking Jeffrey Ng.

He added that the group has partnered with Beep.It, Food Market Hub and Lapasar to provide its SME customers with easy access to local e-commerce platforms at competitive rates.

The ongoing RHB #JomSapot programme will also actively assist SMEs to promote their products and services to RHB's customer base at no extra cost.

"Support is also extended through our comprehensive SME digital ecosystem towards improving operational efficiencies among our SME customers," said Ng.
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