CIMB will lend RM12 Billion to the B40 segment in Malaysia

Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp

Yes, the title is real. It’s targeted at some people who believe the banks are no longer lending. Frankly, when the banks stop lending, they stop earning yeah. Not a very good sign actually. However, if the borrower does not quality at all, please don’t lend to them yeah. Banks need to be more flexible to be able to pick out good borrowers who may not have sufficient documentation for example but they must continue to be vigilant yeah. Malaysia needs a prime property market, not a sub-prime one. Coming back to CIMB’s RM12 billion loan to the B40 segment.

Article in nst.com.my here CIMB Group Holdings Bhd is targeting RM12 billion for B40 segment financing needs. This includes facilities ranging from home and auto to Amanah Saham Bumiputera (ASB) and personal financing from now till 2020. It’s group chief executive officer Tengku Datuk Sri Zafrul Aziz said in a statement, “A nation’s prosperity is only meaningful when every single one of its people is enabled to prosper. Being particularly mindful of the B40 segment, CIMB has taken extra steps to ensure that our lending policies are financially inclusive.” He continued in the statement, “To that end, through CIMB Bank and CIMB Islamic, we have targeted to disburse RM12 billion to the B40 segment as home, auto, ASB or personal financing for the period 2019 – 2020, and we will not stop there. We will continue to find ways to assist the B40 segment, whether through our business operations, or corporate responsibility initiatives.” Please refer to the full Article in nst.com.my here

Now that we have the second largest lender in Malaysia giving this commitment, should we now conclude that the B40 (as long as they qualify) will get the money they needed? I believe so. Buying a car? Buy well within affordability. If we could qualify for a RM50,000 car loan, get a RM30,000 one instead. If we could afford a RM500,000 property, aim at a RM350,000 property instead. Frankly, the cheaper property will not kill us. It will just ensure our loan is approved and that we start the investment on a strong footing. Over-stretching financially does not help anyone, not even the economy on a longer term basis. Happy understanding and following and well, borrowing too.

Please LIKE kopiandproperty.com FB page or Sign Up for free to get daily updates about the property market.

<Featured Image is courtesy of Stock Photos from Andrey_popov>

Article written and edited by Charles. News article summarised by Dina Batrisyia.

written on 14 April 2019

Next suggested article:  PNB’s diversification direction by its new chairman

We love to hear from you (Leave reply)

LIKE us for property news update, FREE.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

You may enjoy these articles too.



kopiandproperty.com is everything about property related writings and news. Enjoy reading with a latte.

Leave a Replay

LIKE us for property news update, FREE.

Property investment news everyday? Subscribe for free!

An article a day, keeps updated all the way.

Join 1,250 other subscribers

Property investment news everyday?

An article a day, keeps updated all the way. Subscribe for free!

join the family

Like us for daily investment news and more