Malaysia's best bank for SMEs 2021: CIMB
Investors in Malaysia tend to be distracted by the large, government-linked companies that tower over the economy. In reality, small and medium-sized enterprises are the lifeblood of Malaysia Inc: 98.5% of businesses are SMEs of myriad sizes and across all sectors, and these enterprises account for 39% – or $131 billion – of Malaysia's gross domestic product.
No institution gets the importance of SMEs to the nation better than CIMB. In recent years, but especially during the Covid-19 disruptions, CIMB has endeavoured to be a central point of support, providing both financial and non-financial services for customers, including SMEs.
It’s all part of CIMB’s vision to be the leading focused Asean bank and to build what it calls a “high-performing, sustainable organization” to serve customers and, perhaps, society, too.
Given its scale and connections, CIMB often finds itself at the centre of government initiatives. Never was that clearer than during the last 18 months of Covid-related disruptions. In the last year alone, CIMB approved over $1.1 billion worth of the bank’s Payment Assistance Programme in conjunction with the central bank, which benefitted 1,912 SMEs.