KUALA LUMPUR: RHB Banking Group (RHB) has topped total approval and disbursement of financing under government-owned Syarikat Jaminan Pembiayaan Perniagaan Bhd’s (SJPP) small and medium enterprise (SME) financing scheme, having disbursed RM1.13 billion in 2019 against total approval of RM1.43 billion.
RHB said it had approved 914 applications last year under a continued partnership with SJPP and was recognised with the “Top Performer for SJPP Schemes” award at the launch of 2020 Budget - Government Guarantee Schemes for SMEs in Kuala Lumpur today.
SJPP is a company under the Finance Ministry and manages government guarantee schemes for SMEs.
“RHB is all to support SMEs. Our commitment is to providing SMEs access to financing, as key growth engines of the economy.
“In 2019, RHB had approved RM10 billion financing for Malaysian SMEs, including RM5 billion which benefitted more than 3,000 smaller SMEs,” said RHB Banking Group managing director Datuk Khairussaleh Ramli.
“Our approach towards helping SMEs goes beyond lending, making it easy for business owners to achieve greater cost-effectiveness and efficiency through an integrated ecosystem by providing customised solutions,” he added.
As part of the group’s Digital Transformation Programme under its FIT22 strategy, RHB has developed various innovative first-in-market digital solutions.
This included RHB iSMART Digital RM (relationship manager) tool for SME customer advisory and RHB SME Financing online for end-to-end digital SME Financing origination.