SME Bank Ready to Assist Flood-Affected Entrepreneurs and Business

KUALA LUMPUR: 2 December 2024 – Small Medium Enterprise Development Bank Malaysia Berhad (“SME Bank”) reaffirms its commitment to supporting entrepreneurs and businesses affected by the recent floods across Malaysia. As the floods disrupt livelihoods and operations, SME Bank is ready to provide immediate assistance to its customers through tailored financing solutions and relief measures.

SME Bank Acting Group President / Chief Executive Officer, Datuk Dr. Mohammad Hardee Ibrahim, stated: "We understand the struggles faced by our customers due to the recent floods and we are ready to help our customers with existing financing facilities to navigate these challenges. As part of our efforts, we encourage affected customers to contact us to explore financing assistance options for their existing facilities, as well as other available relief measures.”

In addition, SME Bank is ready to support micro, small, and medium enterprises (“MSMEs”) requiring additional financing through Bank Negara Malaysia’s Disaster Relief Facility (“DRF”). This facility offers financing of up to RM700,000 for SMEs and RM150,000 for micro enterprises, with a competitive financing rate of 3.5% per annum (inclusive of guarantee fees) and a financing tenure of up to seven years.

Datuk Dr. Hardee added, “SME Bank has consistently supported its customers through times of crisis, be it the COVID-19 pandemic or natural disasters such as floods. From 2022 to 2023, our assistance programs have benefitted approximately 3,855 customers with a total outstanding value of RM5.82 billion.”

SME Bank urges customers impacted by the floods to reach out to their respective Relationship Managers or contact the Bank’s Customer Contact Centre at 03-2603 7700. Customers can also visit the Bank’s official website www.smebank.com.my and social media channels for the latest updates and information.