RHB targets extending $7.5b in SME loans by 2021

The bank has approved $1.74b in SME financing in 2018.

RHB Bank Berhad is aiming to extend $7.50b (RM31b) in new and additional financing for SMEs by 2021 as part of its push to ease the capital needs of firms and heed the government's call to spur greater SME economic participation.

The move comes on the heels of $1.74b (RM7.2b) in funds approved in 2018 to support the growth of over 4,000 SMEs in Malaysia.

Also read: RHB rolls out digital token for SMEs and corporates

“Our aim is to provide SMEs with services that are beyond the granting of credit facilities, but also to provide them with a holistic ecosystem that are able to offer targeted and innovative products and value added services that will allow them to focus on growing their business” Dato’ Khairussaleh Ramli, Group
Managing Director, RHB Bank Berhad, said,

To-date, RHB has connected over 100,000 SMEs through its cash management and digital solutions. Through the SME ecosystem, RHB aims to connect to 15,000 new SMEs in 2019.

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