AMMB to boost SME financing collaboration to RM1 billion in six monthsBy - 8 August 2016 @ 3:17 PM
KUALA LUMPUR: AMMB Holdings Bhd (AmBank Group) aims to increase its collaboration with Credit Guarantee Corporation Malaysia Bhd (CGC) in areas of small and medium enterprises (SME) financing to RM1 billion within six months.
"We currently have some RM12.1 billion worth of loans to the SME sector within the group," said its group chief executive officer, Datuk Sulaiman Mohd Tahir this morning.
"We are however looking at expanding our collaboration in SME lending with CGC to RM1 billion within the next six months."
The bank's Islamic arm, AmBank Islamic Bhd today signed a portfolio guarantee (PG) agreement to the tune of RM300 million for the financing of SME clients with CGC.
This is a continuation of the Portfolio Guarantee Scheme which was launched in January 2015, where a sum of RM300 million was allocated and fully subscribed by September 2015.
"The SME segment is one of our key growth areas and this CGC tie up is timely for AmBank Group to increase our market share and contribute to economic growth in the country," said Sulaiman of the collaboration.
AmBank also launched two financing packages which are AmBank BizSolutions Kontrak and AmBank BizSolutions 2Trad3 for its existing and future SME clients, at the event today.