Thursday, May 26, 2022
Bursa Malaysia Bhd and CIMB Group Holdings Bhd are collaborating to accelerate the adoption of environmental, social and governance (ESG) practices among Malaysian public listed companies (PLCs) through the #financing4ESG initiative. Through this MoU, CIMB will become the first home-grown bank to collaborate with the exchange on #financing4ESG. CIMB will...
S&P Global Ratings (S&P) said Malaysian Islamic banks may take a bigger hit from Covid-19 because of their retail-focused business profile and inflexibility to adjust interest rates for relief loans. The credit rating agency said in a report that the recovery from Covid-19 among the Islamic banks in Malaysia has...
Funding Societies (Modalku in Indonesia), was officially launched in Vietnam yesterday, marking its fifth market expansion. Addressing the SME financing gap in Vietnam, where the SME landscape is growing yet financially underserved, the move is a natural next step for the fintech company as it pushes further into Southeast...
Photo: UOB Bank
UOB Malaysia recorded a 12.2 percent increase in net profit to RM1.14 billion in 2021 on higher operating income and lower total allowance for expected credit losses. The total operating income grew 4.3 percent to RM3.35 billion, on the back of stronger net interest income and higher net income...
The Vietnam Chamber of Commerce and Industry (VCCI) says in its latest provincial competitiveness index (PCI) report that 46.85 percent of SMEs surveyed said they had difficulties in accessing bank loans in 2021. The figure was higher than the 40.73 percent in 2020. The biggest obstacle for enterprises to access...
Bank Rakyat Indonesia (BRI), the country's second-largest lender by asset, said its loan disbursement to the SMEs, a segment in the first quarter this year had exceeded the level at the beginning of the pandemic Covid-19. The figure presents the latest positive signal for Indonesia's robust economic growth in the...
DBS and Xero, a worldwide small business platform, are collaborating to make it easier for SMEs in Singapore and Hong Kong to apply for loans and access working capital. Customers of Xero will be able to share transactions from Xero's platform with DBS as a result of the partnership while...
Malaysia’s prominent banks will be facing competition from the digital banking system following the announcement of five new digital entrants by Bank Negara Malaysia (BNM). The country’s six largest banking groups by assets are Malayan Bank Bhd, CIMB Bank Bhd, Public Bank Bhd, RHB Bank Bhd, Hong Leong Bank Bhd,...
Small and Medium Enterprises Association of Malaysia (SAMENTA) has congratulated Bank Negara Malaysia and the five successful applicants of the digital banking licenses. The five successful applicants are: A consortium of Boost Holdings Sdn Bhd and RHB Bank Bhd; A consortium led by GXS Bank Pte Ltd and Kuok Brothers Sdn...
The Indian government is determined to rev up the SME sector to achieve inclusive growth and self-reliance, as it contributes roughly 30 percent of India’s GDP, employs around 110 million people, accounts for nearly 40 percent of total exports, and more than half of them are based in rural...
Nearly three in five Malaysian SMEs could forego traditional banks in favour of new or alternative borrowing products in 2022, according to California-headquartered data analytics firm Fair, Isaac and Company (FICO). The firm said in a statement on 26 April that there are signs that traditional banks in Malaysia are...
Al Rajhi Bank Malaysia (ARBM), a subsidiary of Al Rajhi Bank of the Kingdom of Saudi Arabia (KSA) and one of the largest Islamic banks in the world, has selected Moneythor, to implement innovative personal financial management (PFM) features in its upcoming digital bank in Malaysia. This partnership is in...

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