RHB TARGETS RM10B LOANS
Group aims to disburse RM31b by 2021 under 5-year business strategy
RHB Banking Group is targeting to grant RM10 billion worth of financing for the small and medium enterprises (SMEs) segment this year.
Group managing director Datuk Khairussaleh Ramli said the strategy was part of the group’s overall RM31 billion financing disbursement target for SMEs by 2021.
“We are targeting to disburse RM31 billion to SMEs by 2021, which is part of our five-year business strategy, or Fit22, which will end in 2022.
“We approved RM7.2 billion last year to support the growth of more than 4,000 SMEs in Malaysia and are targeting to deploy another RM10 billion this year,” he
said at the launch of the enhanced RHB SME e-Solutions, here, yesterday.
He said the newly-enhanced RHB SME e-Solutions, now fully-integrated with cloud-based accounting software through the bank’s collaboration with financial technology firm Financio, would be a big part of this year’s proposition.
“In rolling out this platform, RHB is the first bank in Malaysia to use Application Programming Interface to integrate RHB Reflex with a financial accounting system,” said Khairussaleh.
“About 4,000 SMEs from our existing client base had participated in the SME e-Solutions. We are targeting to add another 6,000 SMEs by 2020.”
Khairussaleh said the bank was currently handling 200,000 SME clients, but only 90,000 are on some sort of RHB-hosted digital platform.
“We would like to have all 200,000 to come onboard the RHB SME digital ecosystem,” he said.
Besides Financio, RHB will be expanding tie-ups with point-of-sale solutions, e-wallet operators, payroll providers and inventory management as well as direct payment providers such as FPX and DuitNow.
The RHB SME ecosystem consists of a line-up of cloud-based business solutions such as the RHB SME e-Solutions, RHB SME Online Financing and Online Business Current Account Opening, RHB Financial Supply Chain and RHB Biz Power.