SCB unveils 2011 SME lending strategies

SCB announced ts SME lending strategies for 2011, highlighting a diverse range of innovative credit programs and attractive promotional campaigns all year round.

Siam Commercial Bank will help enhance SME potential and promote a strong SME network, backed by a team of expert relationship managers to care for clients. The Bank is also introducing two new credit programs: “SCB SME Venture” and “SCB SME Business Expansion”, to unlock SME potential with tailored-made programs answering the real needs of SMEs.

SCB Senior Executive Vice President Sirichai Sombutsiri noted that since an SCB management reorganization in mid 2010, its SME loan portfolio has shown steady growth, with total lending growth of 19 per cent or US$818.4 million – up from US$4.3 billion at the end of 2009 to US$5.139 billion last year. Lending to small businesses showed the highest growth. This satisfactory growth rate is in line with the Bank's goal of being among the top three market leaders within three to five years. For 2011, SCB is setting a target for SME lending growth of US$1.4 billion, or 27 per cent of US$5.139 billion in 2010. By the end of this year, the Bank expects to see a total SME loan portfolio of US$6.5 billion.

As for its SME lending business plan, SCB's strategy is to focus on brand-new innovative lending products to beat market constraints, so as to offer clients beneficial products that truly respond to their needs.