AmBank aims to approve RM7 bln in loans for SMEs
KUALA LUMPUR: AMMB Holdings Bhd (AmBank), which aims to be the retail bank for small- and-medium enterprises (SMEs), hopes to approve RM7 billion worth of loans for the segment in the financial year ending March 31, 2018.
Group chief executive officer Datuk Sulaiman Mohd Tahir said the bank had approved about RM3 billion to date.
“The SME segment is currently contributing 10 per cent to AmBank. We can potentially grow that to 25 per cent sooner than our 2020 target, given the government’s encouraging support,” he told reporters after the AmBank BizRACE media launch here yesterday.
Sulaiman said the government had created a good ecosystem for SMEs with tax incentives funds.
Meanwhile, AmBank Group, under its business banking division, offered SMEs a range of entrepreneurship growthfocused initiatives and the potential to become major international players with the launch of AmBank BizRACE.
Top 15 participating SMEs stand a chance to win over RM2 million worth of leadership d eve lopment ac t iv i t i e s including subscript ion to Harvard ManageMentor, two seats at the European School of Management and Technology, media packages to brand their company and a field trip to China to learn from internationally- renowned organisations.
AmBank managing director of Business Banking, Christopher Yap, said the bank wanted to create a vibrant ecosystem for SMEs in Malaysia and cater for entrepreneurs at the root level beyond financing options.
“Lean resources and outdated organisational structures and systems are some factors that hinder the ability to innovate and we want to support SME leaders in overcoming these obstacles,” Yap added.
The AmBank BizRACE is co- sponsored by AmMetLife I nsu r a nc e Bhd, Cr e d i t Gua r a nt e e Cor p o r at i o n Malaysia Bh d , D iGi Telecommunications, Human Resources Development Fund and K- PINTAR.
Interested SMEs can register at ambankbizclub. com to participate in the AmBank BizRACE.
Due to overwhelming response, the deadl ine for r e g i s t r at ion has been extended from November 15, 2017 to November 29, 2017.