Alliance Bank targets SMEs


Group chief executive officer Joel Kornreich said the bank planned to double its SME sales force.

KUALA LUMPUR: Alliance Bank Malaysia Bhd plans to accelerate growth in its business financing, particularly for small and medium enterprises (SMEs).

Group chief executive officer Joel Kornreich said the bank planned to double its SME sales force.

“At the same time, we will expand customer acquisition through strategic partnerships and digital channels. We will also enhance our programme lending and risk acceptance criteria, placing greater emphasis on selected growth sectors and businesses that are focused on better environmental and social governance practices,” he said in the group’s annual report.

For its financial year ended March 31, SME loans grew 12.4% year-on-year to RM11.3bil, twice as fast as the industry and resulting in market share growth to 5%.

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