Malaysia Development Bank Explained

Bank Pembangunan Malaysia Berhad
Former Name:Bank Pembangunan dan Infrastruktur Malaysia
Type:Public
Key People:
Hq Location City:Kuala Lumpur
Hq Location Country:Malaysia
Area Served:Nationwide
Owner:Minister of Finance Incorporated

Bank Pembangunan Malaysia Berhad (BPMB; English: Malaysia Development Bank Limited, formerly known as Bank Pembangunan dan Infrastruktur Malaysia or Malaysia Infrastructure and Development Bank), also known simply as Bank Pembangunan is a development bank in Malaysia.[2] The bank's activities are to provide medium to long-term financing to capital-intensive industries, which include infrastructure projects, maritime and high technology sectors and making a number of strategic investments.[2] It is owned by the Minister of Finance Incorporated.[3]

Established under the Malaysia's Companies Act 1965 on 28 November 1973,[2] their initial objective was to assist entrepreneurs involved in small and medium-sized industries through the provision of various financing facilities, training and entrepreneurial advisory services.[2] In addition to providing direct financing, Bank Pembangunan through its subsidiaries and associated companies facilitates the growth of Malaysia's strategic economic sector.[2] [4]

In 2019, Bank Pembangunan and Danajamin receive approval from Bank Negara Malaysia on account of merger plans.[5] Bank Pembangunan asset is estimated to be RM 26.6 billion.

In 2020, the bank was one of list of banks to provide assistance to customers whose business operations affected by the COVID-19 pandemic.[6]

See also

Notes and References

  1. Web site: Bank Pembangunan looks start afresh 'as soon as possible', says Zaiton. Wong Ee Lin. The Edge Markets. 7 March 2019. 24 May 2020.
  2. Web site: BPMB: Corporate Info. Bank Pembangunan Malaysia Berhad. 30 April 2017.
  3. Web site: Newsbreak: Changes at the helm of Bank Pembangunan. The Edge Markets. 22 October 2018. 30 April 2019.
  4. Web site: Bank Pembangunan looks start afresh after scandal. Adeline Paul Raj. The Edge Markets. 8 October 2019. 30 April 2020.
  5. Web site: Bank Pembangunan, Danajamin receives BNM approval for merger talks. The Star Online. 23 December 2019. 30 April 2020.
  6. Web site: Bank Pembangunan joins growing list of banks helping customers affected by Wuhan virus outbreak. Emir Zainul. The Edge Markets. 10 February 2020. 24 May 2020.