Bank Asia is investing in advanced digital banking capabilities to deliver faster, simpler and more accessible financial services while expanding financial literacy, advisory and business development initiatives to help MSME entrepreneurs strengthen their managerial capabilities and build sustainable enterprises, according to a press statement.
As part of its broader business transformation agenda, Bank Asia aims to increase the combined share of its SME and retail portfolios to 40 per cent of its total loan portfolio over the next three to four years, said SEVP & Head of Small Business at Bank Asia Mohammad Saifudowla Shamim.
To achieve this objective, the bank is redesigning its SME value proposition, simplifying customer journeys, enhancing operational efficiency and introducing innovative products and customised financial solutions that address the evolving needs of MSMEs.
Bank Asia is expanding collateral-free lending for eligible businesses by adopting cash flow-based and business viability assessments in place of conventional asset-backed lending models. Leveraging its extensive agent banking network, the bank is also extending financial services to entrepreneurs in rural and underserved communities.
To further strengthen access to finance, Bank Asia is collaborating with government agencies, international development organisations, fintech companies, e-commerce platforms and other ecosystem partners.
Supporting youth and women entrepreneurs continues to be a core strategic focus. The bank offers specialised financing solutions for women-led MSMEs and other underserved segments through refinance schemes and credit guarantee facilities at preferential interest rates.
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