SME bank loans served over 2,000 businesses

PHNOM PENH: The state-owned Small and Medium Enterprise Bank of Plc. (SME Bank) has disbursed more than US$200 million in loans to at least 2,500 SMEs to help them expand their businesses.

As of December 2022, SME Bank directly lent US$ 53.4 million to 231 enterprises, the bank report showed.

To date, a total of US$42 million in loans have been paid out to 292 -related enterprises under the US$150-million Tourism Recovery Co-Financing Scheme (TRCS), since the loans began to be offered in July, continued the report.

Half of the $240 million loans came from SME Co-Financing Schemes, and the other half from Participating Financial Institutions (PFIs), the report said.

SME Bank plans to establish more branches in other provinces of Cambodia, in addition to its two new branches – SME Bank Battambang Branch and SME Bank Phsar Thmei Branch.

According to the report released at its annual meeting late last week, SME Bank has developed its business partnerships with 10 Associations of SMEs to promote direct lending to target customers.

With the above-said achievements, SME Bank of Cambodia Plc. has been committed to continuing to seek good strategies to keep providing efficient and qualified banking services to its SME customers, by especially focusing on enterprises in the manufacturing and processing of agricultural products.

 

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