Bank Pembangunan Malaysia Berhad: Best Development Bank South East Asia 2022

Bank Pembangunan Malaysia Berhad (BPMB) has been fuelling socio-economic development in Malaysia since 1973. As one of the country’s first development financial institutions, the government-owned bank was a preferred financing partner for the burgeoning infrastructure, maritime, oil and gas and technology sectors. BPMB has shifted focus to align operations with government initiatives centred around sustainability, digitalisation and technology. In 2019, it announced a three-year transformation plan to meet evolving development needs through impact finance. The bank adheres to Islamic finance principles and supports the national development agenda while embracing the paradigm shift. BPMB brought in experts from the World Bank to help implement the evidence-based assessment framework Measuring Impact on National Development (MIND). The framework considers financial and sustainability metrics, allowing the bank to back projects with the highest potential to create positive impacts for all — people, planet and nation. BPMB utilised this framework in 2020 and has seen tangible results in terms of profits and impacts. It has achieved modest growth of 2.5 percent for the first time in five years. BPMB aims to identify gaps in the economy and fill them with the right players. Although catering mainly to corporate customers, the bank views SMEs as the backbone of the economy and, as a sector-agnostic financer with decades of experience, is well-positioned to support their growth. It intends to launch a private equity business line to provide further diversity of support to SMEs. The CFI.co judging panel presents Bank Pembangunan Malaysia Berhad with the 2022 award for Best Development Bank (South East Asia).