TMB ramps up efforts to help Thai SMEs
IFC, a member of the World Bank Group, has fully subscribed the US$90-million bond issuance of TMB Bank aimed chiefly at small and medium-sized enterprises (SMEs).
The latest bond expands TMB’s SME lending programme and offers critical, market-based support for the sustained growth of a “major but underserved segment”.
SMEs represent more than 95 per cent of Thai businesses and 80 per cent of employment, but limited access to financing deters them from innovating, improving productivity and creating more jobs, TMB pointed out in a statement on Monday.
The latest Enterprise Survey estimates that the SME finance gap in Thailand is $41 billion – about 10 per cent of GDP.
In addition, only 16 per cent of Thai SMEs have a bank loan, compared to 28 per cent in East Asia and 35 per cent globally.
“TMB has been a strong supporter of small and medium-sized enterprises because we recognise their value to the economy,” said Chompoonoot Pathomporn, TMB Chief SME Banking Officer.
“TMB is aiming to constantly upgrade our services in the SME segment through unique client services and products, leveraging a mobile banking platform and customer-data analytics for marketing and credit assessment purposes.
“We are also active in providing comprehensive training programmes to help SMEs to reach their full potential.”
