• SME News
StanChart to unveil agri financing scheme for SMEs
ALOR STAR: Standard Chartered bank plans to introduce an agricultural financing scheme next year to assist small and medium enterprises (SMEs), said SME Banking general manager Louis Lim.
He said the scheme as being developed to meet the needs of the industry in countries like Malaysia, Indonesia and the Philippines.
Lim
said the scheme would complement the Malaysian Government’s effort in
developing regional economic corridors that emphasised on agricultural
development.
“We are keen on
assisting is for end-products, including processing and exporting,” he
said after the opening of the bank’s newly relocated branch in Mergong
Industrial Estate 2 in Jalan Gangsa here recently.
The
new branch includes a dedicated SME Customer Service Centre and
Priority Banking Centre. The old office was at Jalan Rajah not far from
Pekan Rabu.
Consumer banking
Malaysia country head Srinivasan Shyam said plans were in the pipeline
to set up 16 dedicated SME customer service centres by year-end, adding
that the bank only had seven centres two years ago.
Srinivasan said SMEs contribute 20% of the bank’s revenue, adding that the bank had 35,000 SME customers nationwide.
He said with its customer-centric policy, the bank was confident of increasing its customer base by 20% a year. - StarBiz, Friday 9 November 9, 2007
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