BUILDING a small and medium enterprise (SME) banking business, with sustained profitability, has long been a goal for Asian banks. The opportunity is obvious – SME activity is one of the largest sources of economic growth across Asia, contributing approximately 60% of gross domestic product (GDP) in China, approximately 30% in India, and 40% to 50% in key Asean markets.
However, only 20% to 30% of SMEs’ working capital is fulfilled by formal banking channels.
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