StanChart expects two-digit growth in SME loans

Friday September 21, 2007


StanChart expects two-digit growth in SME loans

KUALA LUMPUR: The Standard Chartered Bank Malaysia Bhd (StanChart) is on track
to achieve its targeted double-digit growth in revenue from its small and medium
enterprise (SME) business.

Consumer banking group head Shyam Srinivasan said the bank, which has about
35,000 SME customers, was expecting a loan growth of more than 20% from this
segment alone this year.

?We have approved over RM1bil of SME loans from 2006 till now,? he told
reporters after the economic outlook and Budget 2008 update yesterday, which was
held in conjunction with the launch of the Malaysia-China Trade Corridor Seminar
in Guangzhou.

The bank had surpassed the compliance target set by Bank Negara for 2006 and
2007, he added.


Left to right : Standard Chartered BANK Malaysia Bhd. Country Head Corporate
Affairs Zaiton Hj. Idrus, Head of Consumer Bank Shyam Srinivasan and SME Banking
General Manager Louis Lim on Thursday
To support SMEs, which intend to expand into China, the bank is sending a SME
delegation to the Guangzhou seminar on Oct 24.

The two-day trade seminar is aimed at providing local SMEs with networking
opportunities in China to explore strategic business partnerships there.

Shyam said with bilateral trade between China and Malaysia worth about RM100bil
a year, China was a ?factory of the world? and the trade seminar would provide a
platform for Malaysian SMEs to penetrate the lucrative China market.

More than 100 delegates from Malaysia and China are expected to attend the
seminar.

The initiative would also drive inward investment to Malaysia, as Chinese SMEs
would also be present to learn about business opportunities here, he said.

StanChart, he said, which had a strong presence in China with a network of 12
branches, 15 sub-branches and three representative offices, would be able to
assist local SMEs to create strategic alliances and make the right business
connections.

He said the bank had plans to organise a trade delegation to Vietnam by next
year, and was also looking at the Middle East and Africa
.

Relevant Pages

  • Chinese bank may expand network in Malaysia
    ... Chinese bank may expand network in Malaysia ... up more branch offices but the decision will depend on market demand. ... She said the Bank of China sees many opportunities in South-East Asia, ...
    (soc.culture.malaysia)
  • Re: CHINESE MATHIMATICAL COMPETITION
    ... 1980, he is experience in trade and projects management, he once lived ... China economics and trade diploma curriculum and sets up the alumni ... He had been appointed as President of Hong Kong SME Development ...
    (sci.math)