What it does: A bank wholly owned by Malaysia's Ministry of Finance that offers financial expertise and assistance to small and medium enterprises
Best known for: SME Bank is one of Malaysia's leading Development Financial Institutions (DFI), playing an important role in the progress of the Government's development and economic initiatives. These projects include the Financial Sector Blueprint (2011-2020) which aims to advance the development of the financial sector, and the National Key Economic Areas (2010-2020), twelve economic sectors that are responsible for achieving high-income country status.
Staff stats: 1,043
The good bits: Good work-life balance, benefits, and workplace facilities. Extensive training for entry-level employees; great for graduates who have limited knowledge about the banking industry but looking for a good avenue to learn.
The not-so-good bits: Some insiders criticised the company's demanding atmosphere. Expect heavy workloads and a high-pressure environment for some roles.
Established in 2005, SME Bank is one of Malaysia's leading Developmental Financial Institutions, regulated by the Bank Negara Malaysia and wholly owned by Malaysia's Ministry of Finance. Headquartered in Kuala Lumpur, Malaysia, the bank's role is to further economic growth by providing financial and developmental support to small and medium scale enterprises.
As of December 2018, the bank has approved RM30 billion in financing with goals to finance projects for small-medium enterprises. The bank has a debt rating of AAA, the highest rating available, and obtains its financial resources from both external and internal funds. In 2015, SME Bank became an Islamic Principle-Based Development Financial Institution, following the rulings of the Sharia law, through its strategic Five-Year Transformation Plan.
SME Bank offers a number of offerings, including MySMEBina, a financing program for infrastructure and construction projects awarded by the government; MySMEBekal, a short-term financing program to maintain or supply contracts awarded by the government; i-SURF, an automatic additional financing of working capital for the bank's existing customers who have charged or pledged their property or fixed deposit as collateral, and i-3P, a service that allows customers to refinance or purchase business premises while securing working capital for their business growth.
Today, the bank has an extensive network of 28 branches, including Enterprise Centres, Regional Centres, and Business Centres. In 2018, the bank generated an operating profit of RM157.3 million, with most income contributed by its Islamic banking business. In the same year, the bank recorded a book loss of RM495.6 million, which it attributes to the effects of implementing the Malaysian Financial Reporting Standard 9 requirements.
SME Bank's 18-month graduate program immerses graduates in the banking business through personalised rotations, learning events, field trips, mentoring programs, and assignments across different segments. The program also offers an opportunity to obtain professional certification. Applicants must be Malaysian citizen degree holders with a minimum of CGPA 3.2 or higher, below 28 years old with excellent verbal and written English and & Bahasa skills and no more than two years of working experience. To apply, graduates may visit the SME Bank careers page.
SME Bank puts a premium on efficiency and productivity. As a part of its core values, graduates may expect a fast-paced workplace with rigorous demands. Insiders often remarked that for most roles, workloads are high and deadlines are tight. Thankfully, extensive training and a supportive environment help workers pull through.
SME Bank's corporate social responsibility is expressed through the Y-Biz Challenge, a competition introduced in 2012 that aims to raise awareness for and promote entrepreneurship as a career of choice while nurturing future entrepreneurs and encouraging creativity and innovation. The competition has two categories: SME Bank Y-Biz Challenge for secondary school students, and the Young Entrepreneurs Programme 'SME Bank 90-Days Business Challenge' for community college students.
Y-Biz Challenge for secondary schools requires participating students to propose a product or service. Teams selected for the final round are then offered seed capital to produce a prototype of their idea. Winners are judged according to creativity and innovation in packaging, design, and ergonomics, as well as the commercialisation of their products or services.
The SME Bank 90-Days Business Challenge requires students to run their own business. Candidates will attend entrepreneurship boot camp sessions mentored by the Centre for Entrepreneur Development and Research (CEDAR). Contestants are judged according to the profitability and success of their business. Winners take home a total prize of RM30,000 in cash.
Hardworking graduates aiming to learn more about the banking industry will find SME Bank's extensive training and opportunities for experiential learning attractive. While salary isn't its most attractive feature, the array of fringe benefits may compensate. Take note that SME Bank requires rigorous work from its employees, so graduates are advised to watch for frequent burnouts.
SME Bank offers industry-average salaries. Additional benefits may include a variety of insurance coverage for health, life, dental, and vision, pension plan, retirement plan, performance bonus, maternity/paternity leave, sick and vacation leave, gym membership, and training.