AmBank to sustain double-digit growth for SME loans this year, says group CEO

Front Row : Datuk Sulaiman Mohd Tahir, Group Chief Executive Officer, AmBank Group (4th from right); Christopher Yap, Managing Director, Business Banking, AmBank Group (5th from right); and Senior Management of AmBank Group at the AmBank SME BizCONFERENCE 2023 held at the Sheraton Hotel Petaling Jaya

KUALA LUMPUR: AmBank (M) Bhd’s loan growth for small and medium enterprises (SMEs) is expected to maintain double-digit growth this year.

Ambank Group chief executive officer Datuk Sulaiman Mohd Tahir said the bank has consistently achieved double-digit growth for the last eight years in its SME loan segmentation.

"This year it may dip slightly, but I still believe it will remain the major engine of growth for AmBank.

"I believe we can sustain this double-digit growth, as SMEs are an essential business sector for Malaysia, whether it is in food and beverages, manufacturing, services, or other areas,” he told reporters at the AmBank SME BizCONFERENCE in Petaling Jaya today.

In a statement, AmBank said the BizCONFERENCE is a platform offering knowledge, networking opportunities, and media coverage to every business looking to reach new heights and transform their business.

"The SME BizCONFERENCE features key trends by keynote speakers in the financing, environmental, social, and corporate governance (ESG) agendas, smart automation and 5G sectors.

Attended by 300 SME leaders, the event included three engaging panel discussions that shared valuable insights, strategies, and best practices.

"Through the event, AmBank aims to provide Malaysian SMEs with an understanding of key trends to help them future-proof their businesses and stay ahead,” the bank said.

The conference also provided a networking platform for the SME community, allowing business owners to connect with subject matter experts and leaders of homegrown brands who have achieved regional and global success. - Bernama

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