SME Bank on target for RM1.5 B loan dispersal

SME Bank is on target to disburse RM1.5 billion in loans by year-end.

The bank's managing director, Datuk Mohd Radzif Mohd Yunus, said the bank gave out RM700 million in loans in the first half of this year in continuing efforts to assist small and medium enterprises.

"Under the Five-Year Transformation Plan, we will definitely increase them by two per cent next year and three per cent the following year, based on our significant market share," he said. t.

Radzif said the bank aimed to increase its market share by between five and ten per cent by 2015, from two per cent now.

He pointed out that as a development bank, profits were not the main criteria.

"Instead, the bank will play a more positive role to nurture SMEs in all aspects of their businesses while providing critical financing to ensure that their businesses take off from the drawing board," he said. "Under the government's New Economic Model, SME Bank has been entrusted to assist SMEs in their business life cycle, especially in the development and growth stage."

The full story is available at Bernama.