AmBank group business banking managing director Christopher Yap , Sulaiman and AmBank group senior management at the conference.AMMB Holdings Bhd projects loan growth of between 6% and 7% for the small and medium enterprise industry this year, driven by diverse businesses in the sector.
He remarked that private consumption is mostly driven by SMEs, particularly those in the food and beverage sector, which experienced growth due to participation in many sub-sectors. Furthermore, Sulaiman said, the SME landscape is quite diversified as it supports many industries and if one sector excels, then it will balance other sectors as well.
Sulaiman said the bank has seen double-digit SME loan growth over the past eight years, but expects to see it “come down a little bit” this year. However, he said that it is still the major engine of growth for the bank.