KUALA LUMPUR (May 6): Boost Bank, Malaysia’s first digital bank, has disbursed close to RM150 million in small and medium enterprise (SME) financing, just after the loan services were launched in October last year.

Boost Bank is the first digital bank in Malaysia to roll out SME financing, with an average loan size of RM300,000, according to the bank in a statement on Tuesday.

The financing has also benefited hundreds of SMEs, including businesses from the wholesale, manufacturing, retail, construction and food and beverage sectors.

“When we started offering SME financing, our mission was clear — to help business owners overcome the financing challenges they often face,” Boost Bank chief executive officer Fozia Amanulla said.

Boost Bank’s SME financing is structured for ease of access, requiring minimal documentation, rapid processing, and flexible repayment terms to address the varying needs of small businesses.

Boost Bank is a 60:40 digital bank venture launched in June 2024 by Boost Holdings Sdn Bhd, an indirect subsidiary of Axiata Group Bhd (KL:AXIATA), and RHB Bank Bhd (KL:RHBBANK).

To further support SMEs, Boost Bank said it soon plans to launch a new digital platform that integrates money management, payments, and operational tools.

"At Boost Bank, we’re committed to supporting SMEs not just with financing, but also with the right tools and services to help them run and grow their businesses confidently in the digital age," Fozia added.