KEY RISKS & CHALLENGES Risks & Challenges Mitigation Strategies Disruptions to SME Business growth Post-pandemic recovery and natural disasters disrupted growth and business performance for SMEs • Continuously implemented engagement activities to SME Customers and registered SME members of the Bank’s strategic partners to spread product awareness, encouraging SMEs to approach FIs and seek financial assistance • Promoted the SMEXpert mobile app as a digital marketing tool to promote BIMB’s SME products and services GROWTH OPPORTUNITIES Opportunities Our Approach 1. Initiatives and incentives for green technology adoption and applications 2. Rising demand for digitalised services and platforms 1. Increased promotion of SME Smart Eco Financing products to SMEs 2. Deployed digital platforms to improve communications with customers, strengthen market outreach and deepen support for SMEs 3. Implemented financial assistance programmes to meet the current needs of customers and help ease their financial burden OUTLOOK AND STRATEGIC PLANS Within the next year, we plan to roll out more financial assistance programs and initiatives to help SMEs ease their financial burden, while also supporting the Group and the government's ESG aspirations. One of our key initiatives for 2023 is to further promote the SME Smart Eco Financing Programme, which encourages sustainable business practices among SMEs. In the medium to long term, SMEs will be focused on business recovery efforts and exploring new markets and opportunities, which presents new opportunities for SME Banking to expand our market penetration and strengthen our relationships with customers. We are committed to developing appropriate financing programs and digital initiatives that will enhance the overall customer experience and contribute to the growth and success of SMEs in the Halal Economy. We will also continue to work closely with strategic partners and stakeholders to cultivate SME growth and development, while exploring new avenues for market expansion. With our strong focus on innovation, customer service, and Shariah-compliant solutions, we are confident that SME Banking will continue to play a pivotal role in supporting the growth and success of SMEs in the Halal Economy, both in the short and long term. Management Discussion & Analysis Bank Islam Malaysia Berhad 83 01 05 03 07 02 06 09 04 08
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