SME Bank approves 62% more loans

SME Bank approved loans totalling RM1.3 billion in September this year, said managing director Datuk Mohd Radzif Mohd Yunus.

This represent a 62 percent increase over the same period last year.

"Efforts by SME Bank staff over the last one year and nine months have transformed the bank's financial position, and we have posted a RM63 million profit in six months," said Mohd Radzif. "We expect the figure to increase by the end of the year which is only three months away," he asdded.

SME Bank is now in a better position after posting losses in 2009 and 2010.

The bank will also launch several new products in 2012 to help entrepreneurs obtain credit to expand their business, he said.

The full sotry is available at Bernama.