Enterprise
Banks helping SMEs beyond financing
Najihah S | 10 Nov 2017 00:30
Financial institutions are fast recognising the potential of small and medium-sized enterprises (SMEs) in the country. These institutions are now seen as acting as agents of change in the SME landscape.
 
Not only are they becoming an accelerator for SME growth in terms of extending financial aid, but also providing relevant industry insights.

There is an increase in the number of banks organising start-up pitch sessions to know what these entrepreneurs are able to develop. Some of these banks include AmBank Bhd, Alliance Bank Malaysia Bhd and SME Bank.

AmBank, the sixth largest bank in the country, aspires to be the top four in the SME banking sector by 2020. To-date, SME businesses contribute to about 13% of AmBank’s revenue and the bank is targeting it to grow to 25% by 2020.