KUALA LUMPUR, Oct 14 ― The banking system as a whole disbursed RM120 billion in lending and financing to small and medium enterprises (SMEs) in the first half (H1) of 2020. Bank Negara Malaysia (BNM) said a total of 65,597 accounts were approved in H1 2020, which was higher than the 57,367...
Bank Negara Malaysia said a total of 65,597 accounts were approved in H1 2020, which was higher than the 57,367 accounts in the same period last year. ― Picture by Sayuti Zainudin
“The average financing size, however, declined with more SMEs applying for lower financing amounts, mainly to tide through the pandemic,” it said in its Financial Stability Review ― First Half 2020 released today. The central bank said it enhanced the existing financing facilities under the BNM’s Fund for SMEs and increased the allocation of these facilities to ease lending/financing conditions for viable SMEs during this challenging period, complementing the financing schemes offered by the government and financial institutions.
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