Maybank extends RM20bil worth of repayment assistance

Maybank group chief executive officer of community financial services Datuk John Chong

KUALA LUMPUR: Malayan Banking Bhd (Maybank) has extended some RM20bil worth of repayment assistance as at Sept 30 to over 26,000 small-and-medium enterprises (SME) loan/financing accounts.

In addition, the bank has also continued to make financing accessible to them, with more than RM15bil in loans/financing approved and disbursed to SMEs since 2019.

Maybank group chief executive officer of community financial services Datuk John Chong said that with the economy gradually reopening, the bank is committed to continuing providing assistance, in both financial and non-financial capacities, to its SME customers to help accelerate their recovery.

“SMEs are the nation’s economic backbone, employing almost half the workforce and contributing close to 40% of Malaysia’s gross domestic product, and it is critical that they are nurtured to help support the nation’s economic growth,” he said in a statement.

“Maybank currently serves almost 60% of all SMEs in the country, and we want to ensure that they are able to sustain and rebuild their businesses particularly through this early stage of recovery,” Chong added.

He noted that Maybank continued to accept repayment assistance applications under the PEMULIH programme, with the total number of SME loans/financing currently under repayment assistance representing 8% of Maybank’s total Malaysia consumer and small to mid-sized business loan/financing portfolio based on outstanding balance.

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