Published: July 27, 2012
By RUPINDER SINGH
KUALA LUMPUR: Standard Chartered Bank Malaysia Bhd (StanChart) is expecting a double-digit growth for the small and medium enterprises (SMEs) banking business despite the global economic uncertainty.
“We are growing double digits, I would say in the the mid-teens. I think we are growing faster than the overall industry, so it’s somewhere in the range of 10-15 per cent year-on-year,” its general manager for SME Banking, Vishal Shah, said at the 16th Malaysian Banking Summit.
He said the bank’s SME portion would continue to grow so long as the SME clients’ businesses are growing.
“We are a reflection of our clients. So if our clients keep growing and the overall economic environment remains stable to mildly optimistic, I would expect us to grow double digits,” he said.
He said the bank’s key strength is that it has been serving the SME segment for over a decade across 30 countries and is backed by the group in terms of product development and strategic planning, among others.
Earlier, Credit Guarantee Corporation Malaysia Bhd senior general manager of operations, Khoo Kim Ho, said the future of SMEs is important and the banking community is supportive of the sector.
He said outstanding loans in the SME sector is well over RM100 billion and will continue to grow.
No comments:
Post a Comment