AMMB : AmBank offers business financing up to RM2 million for local MSMEs, in collaboration with Lazada

MEDIA RELEASE

15 August 2022

AmBank offers business financing up to RM2 million

for local MSMEs, in collaboration with Lazada

Strategic pact with Lazada paves vital digital path for MSMEs to flex their online business muscle in road to economic recovery

AmBank has partnered with Lazada, Southeast Asia's pioneer eCommerce platform, to provide holistic solutions and additional facilities to further empower Malaysia's Micro, Small and Medium Enterprises (MSMEs) sector. The bank is offering business financing up to RM2 million exclusively for local entrepreneurs and sellers on the Lazada Malaysia platform to grow and sustain their online businesses.

Aaron Loo, Managing Director, Retail Banking, AmBank said, "Many MSMEs businesses have been struggling, some even closing down their physical stores and finding alternate channels for business survival such as e-commerce throughout the last two years since the pandemic hit our country. With the shift of consumer behaviour and demographics to online shopping, we believe the demand for eCommerce businesses is also increasing. Through our joint effort with Lazada, we hope that this financing solution can assist many of the local sellers on Lazada, giving the MSMEs opportunity to generate capital to expand their online business and bounce back from the economic impact of the outbreak."

Issued by Media Relations Unit, Group Corporate Communications & Marketing, AmBank Group Level 46, Menara AmBank, 8, Jalan Yap Kwan Seng, 50450 Kuala Lumpur

MEDIA RELEASE

"In addition, this collaboration will open up opportunities for AmBank merchants to expand their business from offline to online (O2O) on Lazada's fast growing digital commerce platform and we are very excited to help these merchants embark on their digital journey," he added.

"Lazada is optimistic about this strategic partnership with AmBank, as it will strengthen the eCommerce ecosystem, and address the financial pain points faced by many MSMEs today. With the microloans and financial solutions from AmBank, our local sellers would be able to build up their capital and grow their online businesses. We are also looking forward to further collaborate with AmBank in supporting more MSMEs to digitalise their businesses, narrowing the digital gap and bringing more local entrepreneurs onboard under Lazada Malaysia's Hari-Harimau New Seller Kickstarter Package," said Darren Rajaratnam, Chief Operating Officer, Lazada Malaysia.

AmBank's financing solutions will be made available for Lazada sellers under the Lazada Service Market, where a range of affordable third-party services, as well as essentials supplies, are accessible to assist the sellers' online store operations. For more information on AmBank financing that have been designed exclusively for Lazada merchants, kindly visit https://www.ambank.com.my/eng/promotions-page/Business-Financing-for-Lazada-Seller.

Issued by Media Relations Unit, Group Corporate Communications & Marketing, AmBank Group Level 46, Menara AmBank, 8, Jalan Yap Kwan Seng, 50450 Kuala Lumpur

MEDIA RELEASE

About AmBank Group

AmBank Group is a leading financial services group with over 40 years of expertise in supporting the economic development of Malaysia. We have over three million customers and employ over 9,000 people.

The Group was listed on the Main Market of Bursa Malaysia in 1988. It is the sixth-largest banking group by assets in Malaysia, with a market capitalisation of more than RM12 billion as at 31 March 2022.

AmBank Group serves over three million individual and corporate customers. It provides services in wholesale banking, retail banking, business banking, investment banking and related financial services which include Islamic banking, underwriting of general insurance, stock and share broking, futures broking, investment advisory and management services in assets, real estate investment trust and unit trusts.

For more information, please visit www.ambankgroup.com

For further information, please contact Ridzuan Zulkifli, Senior Vice President, Group Corporate Communications and Marketing, AmBank Group at ridzuan.zulkifli@ambankgroup.comand the Media Relations team at media.relations@ambankgroup.com

Issued by Media Relations Unit, Group Corporate Communications & Marketing, AmBank Group Level 46, Menara AmBank, 8, Jalan Yap Kwan Seng, 50450 Kuala Lumpur