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RHB Bank Has Doubled Its Green Loans Target to RM50 billion

PETALING JAYA: RHB Bank Bhd has raised its green loans goal to RM50 billion (US$10.5 billion) by 2026, more than doubling its initial target, following surpassing its previous target last year.

RHB Bank deployed RM23.8 billion in green financing

According to a statement by RHB Bank, the bank had achieved RM23.8 billion in green financing by the end of 2023, exceeding its original target of RM20 billion by 2026 under its sustainability strategy introduced in 2022.

Malaysia’s major banks have been increasing their green loan objectives since the previous year.

Malayan Banking Bhd, the country’s largest lender, reported last year that it had achieved half of its RM80 billion green loan target for 2025.

In the meantime, CIMB Bank Bhd, the second largest lender, had committed to disbursing RM100 billion in green loans by the end of this year.

 

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