KUALA LUMPUR: Alliance Bank Malaysia Bhd has seen substantial loan expansion in its small and medium enterprises (SMEs) and commercial banking divisions, with the former loans rising by 16.4 per cent year-on-year in 2023.
The commercial banking loans expanded by 14.2 per cent.
Alliance Bank said it has been steadily growing its market share in SME loans, increasing from 3.4 per cent to more than 5.0 per cent.
The SME and commercial banking sectors now contribute nearly 40 per cent to the bank's overall business.
"The figures outpaced the industry growth rates, reflecting the bank's strong support for businesses via the bank's full-suite of innovative, relevant and inclusive solutions including Digital SME and Alliance BizSmart®," it said.
Alliance Bank attained a total of RM12.3 billion in new sustainable banking business, bringing it nearer to its financial year 2027 (FY27) target of RM15 billion.
The bank said its continuous development of banking and non-banking solutions aimed at fostering the resilience of SMEs has led to its recognition as the "Best SME Bank in Malaysia" by The Asian Banker's Global Excellence in Retail Financial Services Awards 2024 and The Digital Banker's Global SME Banking Innovation Awards 2024.
Group chief executive officer Kellee Kam said given its extensive history of working with SMEs, the bank recognises the unique challenges it faces at different stages of their growth.
"Thus our efforts are focused on innovating and providing personalised, fast and convenient solutions to support our customers towards achieving their business goals throughout their life cycle.
"These awards underscore our dedication to fostering SMEs' growth, and our commitment to delivering outstanding services tailored to our customers' evolving needs as we journey alongside them," he added.