KUALA LUMPUR Jan 31 - Malayan Banking Bhd (Maybank) has clarified that its total retail small and medium scale enterprise (RSME) financing portfolio for Malaysia is still low and under control.
Malaysia's biggest lender said its financing portfolio for Malaysian SMEs is RM23.3 billion, of which it's gross impaired loans (GIL) ratio is low at 1.30% as at 30 September 2021 thus making its total gross impaired loans at about RM300 million.
Maybank was clarifying a DagangNews article :Khairussaleh likely to address high SME debt anf renes focus on banking business on January 28.
In a statement to DagangNews.com. Malaysia's biggest lender said its GIL ratio for RSME Malaysia has reduced from 2.26% as at 31 December 2019 to 1.30% as at 30 September 2021.
"A lower GIL ratio indicates that asset quality trends are improving and we have observed that RSME GIL ratio has improved over the past two years."
Maybank said it has been focusing on improving the performance of business banking over the last five years, and has successfully turned around the business with growth seen over the last three years since 2019.
Business banking loans grew 2.9% year-on-year for 2019 and 2.8% year-on-year in 2020 and 4.6% as at September 2021.
The business banking loan portfolio is currently RM27.1 billion as at September 2021 and focuses on privately owned companies and mid-sized corporates, including larger SMEs.
Aside from loan growth, its gross impaired loans ratio has fallen considerably from 12.05% as at 31 December 2017 to a low of 5.04% as at 30 September 2021 through targeted asset quality management.
Business Banking falls under Group Community Financial Services, which is led by Datuk John Chong.
Meanwhile, Datuk Muzaffar Hisham is the CEO of Group Global Banking, which oversees corporate banking. He is not the Head or CEO of International Banking which is headed by Michael Foong.
The related article: Khairussaleh is likely to address high SME debt, renewed focus business banking
Datuk Khairussaleh Ramli has been appointed as Maybank Group President and CEO effective 1 May 2022.
Khairussaleh was the President Director and CEO of Bank Internasional Indonesia (now known as Maybank Indonesia). - DagangNews.com
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