Maybank anticipates strong growth in Retail SME financing this year
sees 43% loan growth in 2014
Maybank is committed to see further growth in Retail Small and Medium Enterprise (RSME) financing in 2015 after recording a strong 43% rise to RM7.5 billion in 2014.
As at 31 December 2014, its business banking grew 6.5% while the Group market share in the SME industry, in terms of financing stood at 20.4%.
As for SME Islamic financing, the growth was a strong 77% to RM3.4 billion last year, said Maybank Head of Group Islamic Banking Muzaffar Hisham who represented Maybank at the launch of Maybank SME Campaign in Kuala Lumpur. The launch was organised in conjunction with Maybank SME Open Day, a series of seminars on the SME Industry held at 16 selected Maybank branches, nationwide.
Muzaffar, who is also CEO of Maybank Islamic Berhad, said “The importance of SMEs in local communities and their economic contribution to the country cannot be underestimated. Their ability to succeed and grow underpins the future potential for jobs, growth and prosperity.
“We at Maybank are more than happy to extend our products and services and play a role in turning the great business ideas of these SMEs into successful business stories,” he said.
The Maybank SME Campaign, a 6-month programme until 31 August this year is aimed at creating awareness about Maybank products for the SME community, which include lending, deposit, commercial credit cards, M2Ubiz, M2e and Maybank AutoCredit System. Existing and new customers will also stand a chance to win Toyota Hilux worth RM100,000. Throughout the campaign, 3 cars will be offered.
To kick off the campaign, a Maybank SME Open Day was held at Rivercity, Jalan Ipoh for two days which will be followed by 15 other Maybank branches nationwide. It will run until the first week of April, this year.
One of the activities during the Open Day is a Corporate Responsibility (CR) programme whereby Maybank is allocating a total of RM16,000 or RM1,000 to the underprivileged, at each branch.
The Maybank SME Open Day is supported by SME Corporation and Credit Guarantee Corporation (CGC), while at the Kuantan and Kota Baharu branches, representatives from East Coast Economic Region Development Council will be available to provide business consultations to SMEs.
In 2014, Maybank launched several SME products to support government initiatives in promoting and boosting SMEs which is recognised as a key segment that contributes to the growth of the nation.
Among them were a collaboration with CGC with a commitment of RM1 billion of SME Portfolio Guarantee (PG) financing to SMEs, and with East Coast Economic Region to launch an Entrepreneurship Scheme. Maybank Islamic meanwhile also collaborated with Bumiputera Agenda Steering Unit (TERAJU) to provide RM600 million funding to high-performing Bumiputera SMEs.
The PG financing has benefited 2,133 entrepreneurs of which 56% are Bumiputeras with 31% of the disbursements in the form of Islamic financing.