RHB lends the most to SMEs under govt-guaranteed financing scheme

The Edge Market

21 February 2019

RHB lends the most to SMEs under govt-guaranteed financing scheme

KUALA LUMPUR (Feb 21): RHB Banking Group has been awarded the Top Performer Award by Syarikat Jaminan Pembiayaan Perniagaan Bhd (SJPP), a wholly-owned company of the Ministry of Finance Incorporated (MoF Inc), for providing the highest amount of financing to small and medium sized enterprises (SMEs) under the government-guaranteed financing scheme.

SJPP is an administrator and manager of credit guarantee schemes under MoF Inc.

In a statement today, RHB said the award recognises the bank's role as top among five financial institutions with the highest market share of 20.1% of SJPP loans amounting to RM1.43 billion.

"RHB will continue to spur the growth of SMEs in the Malaysian economy by providing holistic financing solutions and an ecosystem that supports end-to-end operational requirement," said RHB group managing director Datuk Khairussaleh Ramli.

Other incumbents awarded include SME Bank at 15.6%, Maybank at 13.8%, Standard Chartered at 11.4% and United Overseas Bank at 8.9%.

The award was presented by Finance Minister Lim Guan Eng at the Mandarin Oriental Hotel in Kuala Lumpur.

Web source: http://www.theedgemarkets.com/article/rhb-lends-most-smes-under-govtguaranteed-financing-scheme