Maybank Indonesia wins the Asian Experience Awards 2024 for comprehensive SME banking solutions

The bank's SME offerings empower small and medium businesses across Indonesia to reach their full potential

Part of Malayan Banking Berhad Group's bank operating in Indonesia, PT Bank Maybank Indonesia Tbk, or Maybank Indonesia, has brought home the Indonesia Product Experience of the Year - Banking category win in the Asian Experience Awards 2024. 

The award reflects Maybank Indonesia's vast array of non-retail financial solutions tailored for small-medium enterprises (SMEs), coupled with the bank's nationwide presence and advanced data analytics. In addition to SMEs, Maybank Indonesia also offers robust corporate solutions and financial solutions for the retail segment.

The bank's capabilities are underscored by its understanding of SMEs' vital role in the Indonesian economy. The SME sector contributes approximately 60% to the nation's GDP and employs 97% of the workforce. As the bank embraces the mission of “Humanising Financial Services,” it positions the SME sector as a core business focus, recognising its crucial impact on national economic growth.

"The Asian Experience Award becomes proof of our capability to cater to the needs of SME businesses in Indonesia and thrive in the country's diverse economy," said Bianto Surodjo, Director of Community Financial Services (CFS), Maybank Indonesia and is currently waiting for approval from the Indonesian financial authority (OJK). 

Bianto added that aside from its conventional SME financial solution, the bank placed strong emphasis and commitment to the growth of its shariah-compliant SME solutions, acknowledging Indonesia's higher Muslim population, which then makes up the most prominent Muslim market in the world. The Shariah banking segment has also seen significant growth, with a 47.1% increase of IDR1.84t (US$121.05m) compared to August 2023, now representing 27.6% of the total SME banking loans. 

As of August 2024, the bank reported impressive SME loan growth, combining conventional and shariah-compliant loans to achieve a 16.3% increase of IDR2.93t (US$192.80m) compared to August 2023 and a 10% growth of IDR1.9t (US$125.02m) year-to-date 2024. This performance significantly exceeds the industry's overall growth of SME loans, highlighting the bank's role in delivering impactful financial solutions tailored to SMEs.

Maybank Indonesia's SME banking segment offers a range of financial products across various sectors, including working capital loans to support businesses' cash flow needs, investment loans for operational expansions such as new branches, warehouses, and machinery, and trade finance loans related to export and import transactions, along with the necessary bank's collaterals.

The bank continually strives to build sustainable partnerships with its clients. Its commitment to supporting the SME sector is evident in its diverse financial products and services, extensive branch network, digital banking platform, and advanced data analytics capabilities.

In line with ongoing digital advancement, the bank remained focussed on empowering SMEs by leveraging digital banking solutions through eBiz PINTAR, offering early-stage entrepreneurs and existing clients the opportunity to obtain financing requiring no collateral.

"We strive to humanise our financial services by prioritising personalised, innovative, and value-driven solutions that empower SMEs to reach their full potential," said Bianto.

The Asian Experience Awards 2024 recognises the ingenious initiatives of companies that create meaningful brand experiences for their stakeholders, further solidifying the bank's reputation as a leader in the sector.

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Note:
*) Awaiting for approval from the Indonesian financial authority (OJK).

The Asian Experience Awards is presented by Asian Business Review Magazine. To view the full list of winners, click here. If you want to join the 2025 awards programme and be acclaimed for providing meaningful brand experiences to stakeholders, please contact Jane Patiag at [email protected].