OCBC Bank aims to double its target, providing sustainable financing for 12,000 small and medium-sized enterprises before 2028 | Lianhe Zaobao

OCBC Bank plans to provide sustainable financing support for 12,000 small and medium-sized enterprises (SMEs) in Singapore, Malaysia, Hong Kong, and Indonesia by 2028. This is more than double the 5,000 enterprises supported by the bank by the end of 2025. The total amount of sustainable financing for SMEs will increase from nearly 13 billion yuan at the end of last year to 25 billion yuan by 2028. OCBC Bank stated in a press release on Tuesday (April 7) that it is the first bank in Asia to set sustainable financing targets specifically for this customer group. The bank pointed out that SMEs play a crucial role in addressing climate change, accounting for over 95% of all enterprises in the region and employing 70% of the workforce, making them an indispensable part of the supply chain and various industries. "These supply chains and industries need to work together to achieve the growing scale and speed of emissions reduction in the region." Wang Yinxuan, President of Global Commercial Banking at OCBC Bank, said, "Across the Asia-Pacific region, SMEs are increasingly recognizing that sustainability is not only a compliance requirement but also a strategic business imperative." OCBC Bank also mentioned that its commitment to sustainable finance for SMEs includes providing social loans to women entrepreneurs, and it has launched special programs in its four core markets. Further Reading OCBC Bank's stock price hits a record high, market value surpasses 100 billion Environmental organizations complain to the Singapore Exchange, alleging OCBC Bank misled disclosures on coal power financing risks Bank data shows that the sustainable financing loan portfolio aimed at SMEs continues to maintain growth momentum. The total number of SMEs receiving sustainable financing support increased by 34% in 2025, the total amount of sustainable financing grew by about 40%, and the number of sustainable development-linked loans issued to SMEs more than doubled OCBC Bank stated that over 70% of these borrowers are small enterprises with fewer than 25 employees. The industries driving growth include construction and contracting, manufacturing, and transportation and logistics. The bank also launched a small and medium-sized enterprise ESG startup program last year. It revealed that 180 companies have joined and undergone assessment so far, accounting for 60% of the three-year target. In February this year, an environmental organization filed a complaint with the Singapore Exchange, alleging that OCBC Bank may not have complied with its sustainability reporting requirements, particularly regarding insufficient disclosure of financing for nickel production to self-supplied coal-fired power plants. In response to inquiries, the bank stated that it is essential to recognize the realities affecting the operations of industries critical to the global energy transition when assessing them