Throughout the COVID-19 pandemic and the prolonged Movement Control Order (MCO) period, the RHB Banking Group has continued its assistance to small and medium enterprises (SMEs), providing more than RM20.3 billion in financial assistance comprising RM12 billion in Repayment/Payment Assistance and more than RM8.3 billion in loans and financing facilities.
The Group’s offered financial relief facilities and repayment assistance programmes, providing access to new working capital, as well as implementing various targeted programmes to further stimulate SME business growth.
These include facilitating the smooth delivery of Government-led relief financing facilities such as the Special Relief Facility (SRF) and Targeted Relief and Recovery Facility (TRRF). In addition, RHB continues to supplement wider recovery efforts through its own RHB BizPower Relief Financing (BRF) programme to provide even more SME businesses, especially those impacted by the prolonged COVID-19 pandemic, access to much-needed capital at affordable rates.
With the gradual re-opening of the economy, many SMEs in various industries continue to require additional assistance to sustain business operations.
RHB has therefore remained proactive in engaging directly with SME customers to better understand their concerns and expectations, and by playing an active role towards their recovery.
As such, RHB had recently launched its Retailer SME Relief Financing programme in partnership with shopping mall operators to provide a total of RM200 million in financing facilities with attractive terms to retailers impacted by the steep reduction in footfall in their respective shopping malls due to the MCO.
RHB adopts a holistic approach in assisting and supporting SMEs throughout the prolonged MCO period, by providing relief facilities and payment assistance, as well as working with our partners to enable SMEs to build financial resilience.
Since the start of the pandemic, we have provided various COVID-19 related financing facilities to almost 10,000 SME customers amounting to RM3.4 billion, and as of 22 September 2021, the Group has also provided Repayment / Payment Assistance to close to 7,000 SMEs with loan and financing facilities totalling RM12 billion.