SME Bank KK Approved RM793.2 Million Loans From 2005 To October 2012

KOTA KINABALU, Nov 30 (Bernama) -- SME Bank Malaysia Bhd's (SME Bank) Kota Kinabalu branch approved 492 loan applications with a total approved amount of RM793.2 million from 2005 to October this year, said SME Bank Chairman Datuk Gumuri Hussain.

Source from (Bernama): http://www.bernama.com/bernama/v6/newsbusiness.php?id=712869
Published: December 01, 2012

From January to October this year, the branch approved 74 loan applications with a total approved amount of RM87.4 million while nationwide, SME Bank approved 9,393 loan applications with a total approved amount of RM15.96 billion from 2005 to October this year, he said when opening the bank's Kota Kinabalu Enterprise Centre at Kepayan Perdana near here today.

"SME Bank with the help of the government provides various products and funds specifically to help entrepreneurs, from starting their business to expanding it globally.

"This signals SME Bank's full support for efforts to develop entrepreneurs in Malaysia," he said.

Gumuri said the financing facillities are also in line with Prime Minister Datuk Seri Najib Tun Razak's vision to see SMEs in the country not only play an important role in economic growth but also become the backbone of the transformation process towards high-income nation by 2020.

He said the government targets SMEs' contribution to Gross National Product next year to grow to between 4.5 per cent and 5.5 per cent.

In the 2013 Budget, he said, the government has allocated RM2.25 billion to SME Bank for SME development.

"This allocation is channelled through the SME Development Scheme, Halal Industry Fund and Bumiputera Financing Fund," he said.

The new Enterprise Centre, Gumuri said, will facilitate the bank's dealings with existing and potential entrepreneurs in and around Kota Kinabalu, besides making the task of loan marketing and management easier and more effective.

"It could also extend the marketing of financing products to more SME entrepreneurs and enhance portfolio growth," he added.

Gumuri said SME Bank now has three networks in Sabah -- a Regional Centre in Kota Kinabalu and two Enterprise Centres, one each in Tawau and Kota Kinabalu.

-- BERNAMA