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aws全区号( and OCBC Bank cross RM2bil mark in wholesale guarantees



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OCBC Malaysia and CGC have crossed the RM2 billion mark in Wholesale Guarantees.

KUALA LUMPUR: Credit Guarantee Corporation Malaysia Bhd (CGC) and OCBC Malaysia have crossed the RM2bil mark in wholesale guarantees (WG) for unsecured small and medium enterprise (SME) financing.

In a joint statement on Monday, they said this RM2bil was after several new tranches totalling RM610mil for this year.

OCBC Malaysia comprises OCBC Bank (Malaysia) Bhd (OCBC Bank) and its unit OCBC Al-Amin Bank Berhad (OCBC Al-Amin).

The WG effort, begun in 2014, has now seen a total of RM2.05bil distributed among 8,211 SME accounts.

Prior to the latest RM610mil WG tranche, OCBC Malaysia had already disbursed RM1.44bil in unsecured financing through the scheme in partnership with CGC to 4,509 SMEs in industries ranging from retail and wholesale to manufacturing.

Of this year’s RM610mil tranche, they said RM495mil involves OCBC Bank and RM115mil from OCBC Al-Amin.

A wholesale guarantee (WG) aims to encourage the participation of a financial institution by providing capital relief in accordance with Basel II.

At the same time, it allows them to obtain additional security for their unsecured or partially-secured SME financing/loans.

WG provides a new edge for the banking industry by reducing risk on their books and free up their capital which allows increased capacity for more SME financing/loans.

As for CGC, its strength of WG lies in its simple implementation method of providing a blanket guarantee on financing/loans already underwritten by OCBC Malaysia via a thorough understanding of the underwriting standards and performance of such loans.

As the portfolio would have been seasoned for a period of time, loan quality is made more predictive, hence minimal credit assessment is required upon submission.

OCBC Malaysia submits the qualifying accounts per the agreed terms. CGC’s WG also allows more certainty in outreach and fee income as this is derived from a pool of existing OCBC Malaysia customers.

CGC president and CEO Datuk Mohd Zamree Mohd Ishak said that OCBC and CGC’s achievement in unsecured wholesale guarantees reaffirms their joint commitment in promoting greater access to financing for SMEs.

“Over the span of seven years, CGC and OCBC have provided an average of RM300mil in unsecured financing yearly through our award-winning wholesale guarantee schemes.

“This milestone resonates well with the Government’s call to financial institutions to provide more assistance to SMEs, enabling them to recover and continue their operations with the reopening of the economic and social sectors,” he said.

This is in line with the government’s 6R approach (Resolve, Resilient, Restart, Recovery, Revitalise and Reform) implemented to mitigate the impact of the Covid-19 pandemic.

Mohd Zamree emphasised CGC remains steadfast in its counter-cyclical role, with various initiatives to boost the recovery momentum of the Malaysian economy from the pandemic, particularly in the SME sector.


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