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BANK Pembangunan Malaysia Berhad (BPMB) has finalised the acquisition of Export-Import Bank of Malaysia Berhad (EXIM Bank) and Small Medium Enterprise Development Bank Malaysia Berhad (SME Bank), forming a consolidated development finance group designed to more effectively drive Malaysia’s economic and industrial transformation.
In a statement issued today, BPMB confirmed that the share acquisition from the Minister of Finance (Incorporated) was completed based on the net tangible assets of both EXIM Bank and SME Bank as at 31 December 2023.
With the transaction now concluded, BPMB, EXIM Bank, and SME Bank will operate under a single institutional umbrella, aligning their developmental financing activities with national priorities such as the Malaysia MADANI Economic Framework, the New Industrial Master Plan, the National Energy Transition Roadmap, the 12th Malaysia Plan, and the Bumiputera Economic Transformation Plan 2035.
“Backed by the existing combined workforce of over 2,000, BPMB group enhances its capacity to deliver greater impact at scale,” the group said. “The group remains committed to maintaining its full workforce and enabling meaningful roles, recognising human capital as central to national development efforts.”
The integration of the three banks is intended to strengthen their collective mandate to close critical funding gaps across the Malaysian economy. Key focus areas include support for Bumiputera entrepreneurship, enhanced SME financing, promotion of cross-border trade and investment, and the advancement of sustainable development.
According to BPMB, the unified group has allocated RM8.3 billion for strategic developmental programmes this year, targeting support for both large-scale and grassroots economic initiatives.
“This acquisition is expected to generate revenue and cost synergies over time as the three institutions increasingly integrate their resources and expertise to support the growth of Malaysian businesses, both large and small,” it added.
Looking ahead, BPMB said a comprehensive integration plan would be rolled out to optimise the strengths of each institution, while maintaining a tailored approach to serving three distinct market segments.
The restructuring of Malaysia’s development financial institutions (DFIs) through the merger of BPMB, SME Bank and EXIM Bank was first announced by Prime Minister Datuk Seri Anwar Ibrahim during the presentation of Budget 2024, as part of a broader effort to modernise and streamline the nation’s financial support architecture for economic development. - May 1, 2025
