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BANK PEMBANGUNAN MALAYSIA BERHAD HEEDS GOVERNMENT’S MANDATE FOR DEVELOPMENT FINANCIAL INSTITUTIONS TO PLAY A STRATEGIC ROLE IN ECONOMIC RECOVERY

 

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Wednesday, 8 September 2021, Kuala Lumpur – Bank Pembangunan Malaysia Berhad (“BPMB”) is heeding the Government’s mandate for Development Financial Institutions (“DFIs”) to provide full support to the country during the recovery period with a key focus on developing the people’s socio-economic well-being. This is in line with the spirit of #KeluargaMalaysia in tandem with Malaysia’s economic recovery strategy.

 

Minister of Finance, YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz recently said in a statement that DFIs need to play a strategic and important role in the country’s efforts to restore and retain the capacity of businesses to provide employment opportunities and support livelihoods.

 

BPMB’s President/Group Chief Executive Officer, Arshad Mohamed Ismail said, “As one of Malaysia’s DFIs, we understand that the impact of COVID-19 has been deeply felt by the Rakyat. The prolonged global pandemic has certainly affected all of us – individuals and also Small and Medium Enterprises (“SMEs”) resulting in unemployment or reduction in business. Thus, in line with our developmental mandate, we remain committed to do our very best to support the country’s economic recovery.”

 

“Supporting the Government, we stand steadfast to help accelerate Malaysia’s journey to economic recovery. We also urge all industry players to continue to play an active role to help our community weather the storm,” Arshad elaborated.

 

To ease and support businesses during this challenging period, BPMB is currently offering five financing schemes totalling RM5.6billion – in addition to the Bank’s general corporate banking facilities. The schemes are offered at preferential financing rates, targeting key strategic sectors namely Digitalisation; Sustainability; Maritime & Logistics; Tourism; and Public Transportation.

 

Looking ahead, BPMB will continue to play a key role to support Malaysia’s economic recovery by aligning the Bank’s strategies with the Government’s initiatives on Sustainability, Digitalisation, and Inclusivity.

 

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ABOUT BANK PEMBANGUNAN MALAYSIA BERHAD

Bank Pembangunan Malaysia Berhad (“BPMB”) was incorporated on 28 November 1973 as a development financial institution. BPMB’s role includes the provision of various corporate financing facilities and training and advisory services, particularly to Bumiputera entrepreneurs. Today, BPMB is focused on medium to long-term financing in sectors deemed strategic to national economic development.

 

Owned by Minister of Finance (Incorporated), BPMB has been accorded the highest rating of ‘AAA’ by both RAM Rating Services Berhad and Malaysia Rating Corporation Berhad. It is regulated and supervised by Bank Negara Malaysia under the Development Financial Institution Act 2002.

 

BPMB is strongly capitalised and positioned for growth. As at 31st December 2020, BPMB Group has Total Assets valued at RM23.5billion and shareholders’ funds of RM7.9billion.

 

For more information, please contact: 

 

Shazrina Othman

Head, Corporate Communications

Bank Pembangunan Malaysia Berhad

Tel: (019) 336 7274

Email: shazrina@bpmb.com.my

 

Izzat Ratna

Senior Executive, Corporate Communications

Bank Pembangunan Malaysia Berhad

HP: (012) 642 1889

Email: izzat@bpmb.com.my



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