SME BANK AIMS TO INCREASE MARKET SHARE BY 2015

12 Jul 2013 11:19

KUALA LUMPUR, July 4 -- Small Medium Enterprise Development Bank Malaysia Bhd (SME Bank) aims to increase its market share to between six and seven per cent based on total SME financing by 2015.

Managing Director Datuk Mohd Radzif Mohd Yunus said the bank, which enjoyed a market share of four per cent, was in the midst of studying underserved markets to achieve the target.

"We have to ascertain the underserved and the unserved markets. Once we are clear on that, then probably we know where our target of trajectory growth is," he told reporters after unveiling the bank's new brand identity.

The event was officiated by Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah.

Also present at the event was SME Bank Chairman Datuk Gumuri Hussain.

Previously known as Bank Perusahaan Kecil dan Sederhana Malaysia, the bank's new logo is in line with its new name, Small and Medium Enterprise Development Bank Malaysia, which took effect last month.

"The whole essence of what we have gone through is basically due to the new name. We are trying to underpin the word 'Development' because there has been perception issue that SME Bank is a commercial bank," said Mohd Radzif.

The bank is also projecting to achieve a six per cent increase in its total loan growth in the financial year ending Dec 31, 2013, from RM1.88 billion achieved last year.

-- BERNAMA

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