Four leading banks clinch top SME award
Published on: Thursday, May 28, 2015
Selangor: Credit Guarantee Corporation Malaysia Berhad (CGC) honoured four leading banks with Top SME Supporter Awards for their significant contribution towards SME financing in 2014 at its 20th Annual SME Supporter Awards presentation ceremony.The awards ceremony held in conjunction with CGC's 42nd Annual General Meeting recognised banks in four different categories namely the Top SME Supporter (overall category), Top SME Supporter for Islamic Banks, Top Bumiputera SME Supporter and the Best Financial Partner."Financial institutions play a vital role in paving the way for CGC to reach out to a wider cross-section of the SMEs in view of their extensive distribution network," said CGC President/Chief Executive Officer, Mohd Zamree Mohd Ishak, adding that the strategic partnership CGC had forged with leading financial institutions through its Portfolio and Wholesale Guarantee Schemes had a great impact in its overall SME outreach.ADVERTISEMENT The winners of the Top SME Supporter Awards were Maybank, Maybank Islamic, OCBC Al-Amin Bank Berhad and Standard Chartered Saadiq Berhad. This award was presented to the respective banks for their significant contributions to CGC's overall SME financing through its guarantee schemes.Maybank Islamic also bagged the Top SME Supporter award under the Islamic banks category and the Top Bumiputera SME Supporter award for having provided the most financing to Bumiputera SMEs.For three years running, Maybank has bagged the Best Financial Partner Award for its contribution to CGC's asset quality. For OCBC Al-Amin Bank Berhad and Standard Chartered Saadiq Berhad, this is their first ever award from CGC.The award recipients were selected based on a set of criteria determined by CGC which include amongst others, the number and value of loans guaranteed, loans guaranteed to Bumiputera borrowers, net income growth and rate of default.ADVERTISEMENT In terms of contributions to SME financing, the four awards recipients contributed RM1.7 billion, representing 53 per cent of the total financing and 4,350 loans representing 64 per cent of the total number of loans approved by CGC respectively in 2014. CGC's President and Chief Executive Officer, Mohd Zamree Mohd Ishak said that CGC's SME outreach has improved significantly by 189 per cent in terms of the number of loans and 105 per cent in terms of value approved with the active participation of the financial institutions in its guarantee schemes. CGC had approved a total of 6839 loans valued at RM3.2 billion benefiting businesses mostly from the general businesses, manufacturing and agricultural sectors in 2014.
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In 2014, CGC approved about 5,000 loans valued at RM2.1 billion via the Portfolio and Wholesale Guarantee Schemes.Zamree further added that the success of the Portfolio Guarantee and Wholesale Guarantee Schemes defines CGC's ability to be an innovative partner in SME financing."We are also pleased to inform that CGC's Wholesale Guarantee Scheme was recently awarded with the 'Development Award 2015' under the SME Development Category by ADFIAP, the Association of Development Financing Institutions of Asia and the Pacific during ADFIAP's 38th Annual Meeting in Nha Trang, Vietnam. This international recognition is testimony to CGC's ability to develop and deliver innovative financing solutions that have a great impact on SME development."Stay up-to-date by following Daily Express’s Telegram channel.
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"In line with our vision to be an effective financial institution dedicated to promoting the growth and development of competitive and dynamic SMEs, CGC will continue to enhance SME growth and development by exploring new partnerships and offering innovative financing solutions to improve SME outreach," he added.In 2015, CGC targets to approve 7850 loans with a value of RM3.0 billion through its array of guarantee and financing products. The Top SME Supporter awards were presented by CGC Chairman, Dato' Agil Natt and witnessed by CGC President and Chief Executive Officer, Mohd Zamree Mohd Ishak at CGC's headquarters in Kelana Jaya. Maybank was represented by its Group President/CEO, Datuk Abdul Farid Alias, Maybank Islamic Bank by Deputy CEO, En. Nor Shahrizan Sulaiman, OCBC Al-Amin Bank by its Managing Director/CEO Tuan Syed Abdull Aziz Jailani Syed Kechik and Standard Chartered Saadiq by its Senior Manager, Islamic Banking En. Mohd Suhaimi Abdul Hamid.