SME Bank targets RM1billion growth in financing for 2014

SME Bank Malaysia is aiming to achieve RM1 billion growth in its financing portfolio this year, said Group Managing Director Datuk Mohd Radzif Mohd Yunus.

He said the bank also hoped to attain its targeted five per cent market share for this year, considering the fact that it had performed well and had already achieved a four per cent share last year.

Mohd Radzif said last year the bank recorded some 20 per cent growth in its financing portfolio, which totalled RM4.1 billion.

"As a development financial institution, we are in full support of the government's aspiration to build a core of entrepreneurs as the country's future resides in entrepreneurship, as often said by the prime minister,” he said.

He was speaking to reporters after the memorandum of understanding (MoU) signing ceremony between Unitar International University and Centre for Entrepreneur Development and Research (Cedar) here Wednesday.

On the graduate entrepreneur fund, Mohd Razif said SME Bank had received a tremendous response from graduates last year. "

The government had allocated a RM50 million fund for 2013 and the allocation was oversubscribed by more than 50 per cent or about RM30 million," he said.

Meanwhile, the MoU signed between Cedar, a subsidiary of SME Bank, and Unitar was to enable both parties to collaborate on various entrepreneurship development programmes, research, staff building and other related initiatives to enrich and enhance both the entrepreneurs and academia capabilities.

The MoU marked the 14th partnership for Unitar under its industry linkages initiatives, and the first for Cedar with an institution of higher learning in Malaysia since its establishment early last year.

Unitar Capital Sdn Bhd Chief Executive Officer Wan Ahmad Saifuddin Wan Ahmad Radzi said the university was glad to work closely with SME Bank as one of the channels to revive the entrepreneurial passion.

"We have been partnering with industries in many sectors and having the funding ecosystem completes the loop for us.

"The collaboration will not only give real world experience but also the potential for the students to move forward to do their own business," said Wan Ahmad.

Cedar was established to complement the developmental role of SME Bank and to propel the small and medium enterprises to the next level. It is among the very first few centres established in the region to fulfill the agenda.