Alliance aims to sustain SME segment growth
ALLIANCE Bank Malaysia hopes to sustain between 15 and 17 per cent growth in its small- and medium-sized enterprise (SME) business segment in the next financial year.
The SME segment makes up about 25 per cent of the bank's total business.
Steve Miller, head of Alliance SME Banking, said the growth would be driven by transaction banking such as trade and payment collections, introduction of new products and the upgrading of its Internet and mobile banking.
Yesterday, the bank launched the "MyBusiness Platinum Card", which provides SME business owners additional platform to market their company by having their brand on the card's face.
"The Alliance Bank MyBusiness Platinum card is a result of our conversation with the SME business players.
"It not only gives them complimentary space for branding but will also generate a lot more interest about what their company stands for each time they swipe it when making their purchases," said Miller.
The card includes cash-back feature of up to 1.25 per cent on total monthly card expenditure. It also allows card members the option to either opt for a longer interest-free repayment period or cash rebate on interest paid.
Also present was Jim Cheah, MasterCard Worldwide vice-president and senior country manager for Malaysia and Brunei.
Alliance Bank was recently recognised for its "Excellence in SME Banking" by IDC Financial Insights at the seventh annual Financial Insights Innovation Award.
Source : New Straits Times
Date : 9 March 2012
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