RHB Banking Group (RHB) honoured close to 300 SME business owners at an appreciation dinner held at EQ Kuala Lumpur hotel recently.
Currently, RHB serves more than 200,000 SMEs and targets for SME financing to make up 20% of the Group’s domestic financing by 2022 from 15% in 2017.
In 2018, RHB’s SME and Commercial business financing approval rate stood at 81% against the industry’s 77%, of which RM7.2 billion went towards supporting the growth of more than 4,000 SMEs. As at January 2019, RHB was ranked 4th in the SME segment with market share of 9.06%.
“As a banking Group, we are committed to delivering value and making meaningful contributions to the growth of SMEs.
Our aspiration is to be an SME ecosystem Bank by 2022, shifting from product propositions to a holistic ecosystem approach, which involves strategic partnerships with technology solutions providers,” said Dato’ Khairussaleh Ramli, Group Managing Director, RHB Banking Group.
“In line with this, we have designed a connected ecosystem featuring four integrated solutions that will satisfy our SME customers’ needs in a more holistic manner.
Our SME connected Ecosystem comprises RHB Reflex and RHB Reflex Mobile Cash management, Financial Supply Chain Financing, SME e-Solutions and SME Digital Journey.
This provides SME business owners with greater empowerment by making everyday business simple and convenient to run, thus allowing them to focus on growing their business and boost productivity,” he added.
In the next one year, RHB aims to introduce more business-friendly features on the SME e-Solutions which would enable SME business owners to make direct payments through FPX and DuitNow.
RHB will also be expanding tie-ups with new business solutions partners to include point of sale solutions, e-wallet operators, payroll providers and inventory management solutions.
Over the next three years, RHB targets to grant more than RM31 billion in new and additional financing which is expected to benefit approximately 18,000 SME business owners across Malaysia.
