Alliance Bank Malaysia Berhad has provided RM6.3 billion in targeted assistance to individuals and business customers in the first nine months of the financial year ending March 31, 2021 (“9MFY21”).
“For 9MFY21, we continue to focus on our two key priorities of helping our customers stay resilient during the pandemic and accelerating our digitisation initiatives to acquire more customers, improve client engagement, and drive better cost efficiency,” Joel Kornreich, Group Chief Executive Officer of Alliance Bank said.
RM5.2 billion was for Payment Relief Assistance (“PRA”) packages, and RM1.1 billion was for Extended Moratorium. The Bank has also disbursed more than RM600 million in Special Relief Fund to help SMEs.
In addition to financial assistance, the Bank has also made available various non-financial solutions to help businesses stay resilient and thrive. It does this through BizSmart® Solution,its one-stop digital platform forbusinesses to connect and get the right solutions to transform their business and stay competitive.
The BizSmart® Solution enables business owners to expand their network, obtain products and services within the community at discounted rates, and acquire training to help navigate the current market conditions.
The Bank has also adapted the BizSmart® Challenge, its flagship programme, to provide practical and immediate assistance to young entrepreneurs. The programme now features three support pillars, Funding & Financial Advisory, Marketing & Brand Awareness, and Business Support & Networking.
The Bank also provided similar digital marketing support to local businesses under the #SupportLokal initiative, which has since reached over 17 million Malaysians online and drove over 66,000 visits to local businesses’ websites.
To further assist companies to access new markets, Alliance Islamic Bankexpanded its Halal in One ecosystem with more strategic partners, Halal Development Corporation, Halnex Sdn Bhd and Halal Street UK. Halal in One offers business owners venturing into the halal space end-to-end solutions, including business advisory, business matching services and shariah-compliant financing.