KUALA LUMPUR: Bank Pembangunan Malaysia Bhd (BPMB) has completed its acquisition of Export-Import Bank of Malaysia Bhd (Exim Bank) and Small Medium Enterprise Development Bank Malaysia Bhd (SME Bank), formalising the merger of the three government-linked development financial institutions.
The acquisition, based on the net tangible assets of Exim Bank and SME Bank as of 31 December 2023, aligns with the government’s broader strategy to consolidate development finance institutions under the Malaysia Madani Economic Framework and other national policy blueprints.
With a combined workforce of over 2,000, the newly consolidated BPMB group aims to deliver RM8.3 billion in impact capital this year. The group will continue supporting key development pillars including SME financing, Bumiputera entrepreneurship, cross-border trade, and sustainability-led initiatives.
BPMB said the integration is expected to generate revenue and cost synergies over time while preserving jobs and enhancing capacity across the ecosystem. The move follows Prime Minister Datuk Seri Anwar Ibrahim’s 2024 Budget announcement to restructure DFIs for greater national development impact.–BERNAMA
