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Ambank allocates RM300mil more for SMEs

Monday, 8 August 2016

AMBANK19aug15

KUALA LUMPUR: AmBank (M) Bhd has allocated an additional RM300mil in working capital financing for small medium enterprises (SMEs) under its Portfolio Guarantee Scheme.

This is the second tranche after the earlier RM300mil allocated in January this year under Ambank Islamic’s Portfolio Guarantee agreement with Credit Guarantee Corporation Malaysia Bhd (CGC).

Ambank Islamic CEO Eqhwan Mokhzanee signed the agreement with CGC on Monday.

He said financing for SMEs currently accounted for over 10% of Ambank Islamic’s portfolio.

“We hope to double this figure in the next three to four years,” he told reporters after the signing ceremony.

Source by: The Star Online

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