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BUSINESS

SME Bank records RM536 mln order under Sustainability Sukuk issuance

25/07/2022 04:57 PM

KUALA LUMPUR, July 25 (Bernama) -- SME Bank has recorded another Sustainability Sukuk issuance under its book building exercise, registering a total order of RM536 million, which exceeded the initial desired size of RM300 million.

In a statement today, group president and chief executive officer Datuk Dr Aria Putera Ismail said the sukuk was priced at a competitive profit rate of 4.04 per cent amidst the challenging market and profit rate hike situation. 

“It had received a good demand from local financing institutions, fund management, insurance companies as well government-linked investment companies,” he said.

Thus, he said that has signified a high level of confidence from the investment community in the bank’s ability to deliver its mandate of nurturing and developing small and medium enterprises (SMEs).

Meanwhile, head of treasury Mohd Nazri Abu Samah said proceeds from the issuance would only be utilised to finance environmental, social and governance (ESG) related projects.

Additionally, he said SME Bank would be able to offer more innovative financing solutions for SMEs.

According to the bank, it is now in its second year of implementing the three-year Sustainability Roadmap that focuses on institutionalising ESG culture across the bank, creating maximum ESG awareness with the customers and establishing SME Bank’s own comprehensive and customised Sustainable Development Goal Framework.

-- BERNAMA


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