19 March 2025
Kuala Lumpur : CIMB Bank Berhad and CIMB Islamic Bank Berhad (“CIMB” or “the Bank”) have been awarded as SME Bank of the Year in the second edition of the Qorus Reinvention Awards – Asia Pacific. The award underscores CIMB’s continued commitment to the SME sector in Malaysia through its efforts as a financial services partner that extends beyond financing, also emphasising the development and future-proofing of SMEs, the largest component of businesses in Malaysia, making up 97% of such establishments.
The SME Bank of the Year award is a strong tribute to CIMB’s SME Banking which supports 500,000 SMEs across Malaysia through a suite of products, services and platforms that not only focus on financing but include debt restructuring, expedited financing approvals, rewards for sustainable practices while empowering business owners with essential skills. CIMB continues to emphasise that it is here for the long term as a partner to businesses on their journey of moving up the value chain, and will continue to provide solutions that strive to be simpler, better and faster in the market.
One of the notable achievements of CIMB’s SME Banking was aiding clients affected by the COVID-19 pandemic where the bank reduced the proportion of SME customers requiring repayment assistance from 42% to just 2%. Customer acquisition grew by 28% from the financial year end FY2020 to FY2024 and SME loans on CIMB’s balance sheet increased by 32% in this period.
CIMB continues promote capacity building and networking opportunities through a wide range of programmes addressing the needs of the spectrum of SME businesses. These include CIMB SME BizReady, CIMB MicroBizReady and the CIMB Community Outreach Programme. CIMB’s GreenBizReadyTM programme holistically empowers SMEs on their sustainability journey, providing access to essential training, advisory services and sustainability-related suppliers and service providers. CIMB also facilitates access to credit guarantees through guarantee scheme providers such as Credit Guarantee Corporation Malaysia Berhad (“CGC”) and Syarikat Jaminan Pembiayaan Perniagaan Berhad (“SJPP”).
Programmes such as Program Keusahawanan CIMB Islamic-Taylor’s and the CIMB Islamic Rider Entrepreneur Programme aid the entrepreneur-minded community in providing job opportunities with related training.
The Qorus Reinvention Awards – Asia Pacific were launched in 2023 to put the spotlight on Asia Pacific institutions ‒ and the people behind them ‒ that are innovating at scale to shape the future of financial services in this region. Winners are chosen with considerations in originality, impact and universality, or the innovation’s adaptability across different markets and countries.
