SME BANK ENTERS 2025 ON A HIGH NOTE AFTER A TRANSFORMATIVE 2024, FACILITATING RM3.6 BILLION IN FINANCING & CAPACITY-BUILDING

KUALA LUMPUR, Feb 10 (Bernama) -- Small Medium Enterprise Development Bank Malaysia Berhad (“SME Bank”) has successfully facilitated approximately RM3.6 billion in approved financing for the Financial Year 2024 (“FY2024”), a 35.1% increase from 2023. This funding has been channelled to Micro, Small and Medium Enterprises (“MSMEs”) categorised as unserved and underserved across key strategic sectors including Bumiputera, Technology & Digital Adoption, Climate related, Halal & Tourism, in line with Bank Negara Malaysia’s Performance Measure Framework (“PMF”) which places emphasis on Development Financial Institutions (“DFIs”) to promote greater developmental impact.

Datuk Dr. Mohammad Hardee Ibrahim, Acting Group President/Chief Executive Officer of SME Bank said, “Aligning with the MADANI Government’s aspirations, we continue to drive high-impact growth initiatives. As a DFI wholly-owned by the Ministry of Finance and supervised by Ministry of Entrepreneur and Cooperatives Development (“MECD”), we believe in providing financing and beyond financing support to MSMEs at every stage of their growth journey – from Asnaf entrepreneurs taking their first steps to thriving exporters expanding into global markets. We are proud to be the sole DFI providing financial support with structured capability-building programmes that ensure long-term business resilience. This milestone reflects our commitment to mobilising the RM1.7 billion allocation from National Budget 2024 targeting MSMEs.”