KUALA LUMPUR: SME Bank Malaysia Bhd, which is embarking on a two-year transformation programme, is targeting to approve RM3.5bil in financing to small and medium enterprises (SMEs) this year.

Group president and CEO Aria Putera Ismail (pic) said the amount, which it is targeting to approve, is higher than last year’s figure of RM1.8bil.

Since its establishment in 2005 until the end of 2018, SME Bank had assisted 17,000 SMEs in various sectors with financing of more than RM30bil.

Despite some slowdown in the applications, the bank has rolled out various initiatives and conducted relevant engagements with SME entrepreneurs to ensure robust lending.

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