Maybank aims to disburse about RM18bil of SME financing this year

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

KUALA LUMPUR: Malayan Banking Bhd (Maybank) aims to disburse around RM18 billion of small and medium enterprises (SME) financing in 2024, representing a 13 per cent growth to further accelerate its customers’ transition to a more viable future.

Group chief executive officer for community financial services Datuk John Chong said the bank mobilised close to RM17 billion in SME financing last year, of which RM5 billion was sustainable financing, bringing the total financing for SMEs to RM66 billion from 2019 to 2023.

"We provide expert guidance and tailored support through practical tools, consultancy and advisory services, certification, and accreditation facilitation, as well as financing to cater to all their personalised business requirements," he said after the launch of myimpact SME Hub today by Prime Minister Datuk Seri Anwar Ibrahim.

Chong said since the pandemic, Maybank has supported more than 18,000 SMEs in loan repayment assistance worth RM30.4 billion.

"We want to support the SMEs beyond banking. We want to support them in operational efficiency, such as helping their accounting payroll and solving operational issues.

"We want SMEs to transition into sustainability and get them involved in more environmental, social, and governance initiatives," he said.

Also present at the launch event were Finance Minister Il Datuk Seri Amir Hamzah Azizan, Religious Affairs Minister Datuk Dr Mohd Na'im Mokhtar and Deputy Entrepreneur and Cooperatives Development Minister Datuk R Ramanan.

In a separate statement following the launch, Maybank said the myimpact SME Hub is a one-stop integrated and holistic ecosystem for SMEs, offering value-based solutions established on sustainable and ethical principles.

"It also serves as a knowledge hub and support system to facilitate and partner with SMEs in their journey to transition towards sustainable practices.

"The bank, along with leading industry partners, aims to empower SMEs in Malaysia to achieve a balance between social responsibility, environmental impact, and economic prosperity,” it added. - Bernama

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Maybank , SME , financing , John Chong , myimpact SME Hub


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