OCBC loans to SMEs up 20pc in January-June

IPOH: OCBC Bank (Malaysia) Bhd's continuous support for small and medium enterprises (SMEs) has seen the bank record over 20 per cent growth in loans to the sector in the first six months of this year.

Its director and chief executive officer Jeffrey Chew Sun Teong said the bank is always supportive of qualified SMEs and their needs.

"This has all stemmed from our move to aggressively offer loans to credit worthy SMEs and individuals who have a clear sense of how to use these funds.

Source from (Business Times): http://www.btimes.com.my/Current_News/BTIMES/articles/12OCBC/Article/
Published: October 14, 2012

"I am pleased to say that for SMEs, we currently have a force of over 300 staff on the move nationwide to see to their particular needs.

"Not surprisingly, this is because this segment remains important to us," he told reporters after unveiled OCBC Bank's branch new look here yesterday.

Chew did not disclosed the amount of loans that have been disbursed to the SMEs for the first half of the year.

However, it was reported that OCBC Bank has disbursed some RM2.5 billion worth of loans to the SMEs up to June last year, and was targeting to achieve RM4 billion loan disbursal by end of last year.

OCBC Bank is also upbeat on the growth of its loans products this year.

Chew said in the first half of the year, both loans and deposits grew by more than 20 per cent. He attributed it to strong performances in various areas, including the bank's rapidly growing premier banking customer base and solid growth in home loans and mortgages.

On the branch transformation initiative, Chew said the bank has now transformed more than half of its 31 branches nationwide to enhance customer convenience and promote the use of interactive facilities.

The bank invested RM6 million for the redesign of its branch at Jalan Datuk Maharajalela here.