SME Bank Is First DFI In Malaysia, ASEAN Included In The Montreal Group

KUALA LUMPUR, Jan 26 (Bernama) -- SME Bank Malaysia's unique value proposition of 'Beyond Financing' model to develop small and medium enterprises (SMEs) has been recognised internationally as it becomes the first Development Financial Institution (DFI) in Malaysia and ASEAN to be accepted as a member of The Montreal Group (TMG). TMG is an exclusive global forum for state-owned development banks that focus on assisting micro SMEs, SME Bank said in a statement Thursday. Founded in 2012 by seven members with a total estimated combined assets of US$2 trillion, TMG was established to encourage exchange of ideas, best practices and foster greater understanding of the international market for the growth of SMEs. SME Bank Group Managing Director, Mohd Radzif Mohd Yunus said TMG had recognised the bank as a prominent DFI in the country, as well as the ASEAN region. "We do not just offer financing but we also carry the role of nurturing and developing the SMEs through the bank's various intervention programmes," he said. "Our business model is the result of our continuous efforts in improving ourselves to ensure we are able to fulfil the government's mandate and support the unserved and underserved segments of the SMEs while ensuring our sustainability," he added. Since its establishment in 2005, SME Bank has approved total financing of US$5.89 billion (RM26 billion) and assisted more than 15,000 SME entrepreneurs. --BERNAMA