Malaysia’s AmBank Eyes 15% SME Loan Growth

Malaysian financial services group AmBank is expecting a 15 percent growth from its small and medium-enterprise (SME) loan segment for financial year 2017.

Group CEO Datuk Sulaiman Moh Tahir said the expected growth will be driven by AmBank’s Top Four Strategy that it embarked on in 2016.

He said the bank’s focus on SMEs and mid-corporations as well as a gross domestic product growth projection of 4.5 percent this year will support the growth in the SME loan segment.

Sulaiman added that the group foresees loan growth to be around 6 percent to 7 percent for FY17, given the infrastructure projects that have been rolled out and the recovery in the economy.

[READ ALSO: Malaysia Tops Survey of Best Country to Invest In]

On talks of a possible merger between AMMB Holdings Bhd and RHB Bank, Sulaiman said the bank has not received any proposals of a merger intiation.

Sulaiman described the merger talk as a re-circulation of an old story. He said there are no proposals as of the moment. –