Banks can do more to support SMEs, says Standard Chartered

SME banking is evolving fast as a new generation of firms demands more sophisticated banking services.
Som Sobroto
Som Sobroto

Asia owes a great deal of its economic rise during recent years to its large number of small and medium-size enterprises SMEs. Unheralded though they may be, these firms account for as many as 95% of companies in many of the region’s economies, while typically generating more than half of GDP as well as providing the bulk of employment.

If SMEs are the lifeblood of Asia’s economic dynamism, tightening credit lending and a lack of access to capital markets for financing, means these firms need more support from their banks. For their part, governments play an important role through establishing benign regulatory environments and making available facilities...

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