SBM reaffirms commitment to supporting SMEs

SBM’s Head of Business Banking, SME & Microfinance, Darmen Hurkoo, has reiterated the bank’s commitment to supporting SMEs and improving its offerings for the sector.

He noted an increase in loan applications since the pandemic ended, with most requests for working capital and expansion loans.

SBM has offered solutions for SMEs impacted by increased loan repayments due to a sharp rise in the key rate.

Each payment default is treated on a case-by-case basis.

Hurkoo said that the level of non-performing loans is well below the international norm and disbursement figures for SME financing have exceeded previous years.

The bank is introducing new digital services to support SMEs further.

Source: Le Mauricien