KUALA LUMPUR (June 10): Alliance Bank Malaysia Bhd (KL:ABMB) will work with Credit Guarantee Corporation Malaysia Bhd (CGC) to provide up to RM2 billion in financing for small and medium enterprises (SMEs).

In a statement on Wednesday, the bank said the funding will help SMEs with working capital and business expansion, supported by a portfolio guarantee where Alliance Bank provides the loans and CGC backs them with guarantees.

The portfolio guarantee agreement between Alliance Bank and CGC was signed by Alliance Bank group CEO Kellee Kam, CGC president and CEO Mohamed Nazri Omar, and witnessed by Alliance Bank group chief business and transaction banking officer Raymond Chui and CGC chief business officer Sean Tan.

 "Alliance Bank’s RM2 billion commitment alongside CGC reflects our proactive mandate to champion Malaysian SMEs. We recognise that collateral requirements can stifle viable businesses. Through this portfolio guarantee, we are dismantling those barriers to ensure entrepreneurs have the liquidity they need to innovate, scale, and navigate economic headwinds with confidence. As the bank for life, we stand ready to empower their sustained growth," Kam said.

Since 2018, the bank has already provided nearly RM3 billion in CGC-backed financing to over 5,000 SMEs.