PETALING JAYA: RHB Bank Bhd more than doubled its green loans target to RM50 billion (US$10.5 billion) by 2026 after the Malaysia lender surpassed its original target last year.
In a statement, RHB Bank said it had mobilised RM23.8 billion in green financing as of the end of 2023, exceeding its initial target of RM20 billion by 2026 under its sustainability strategy launched in 2022.
Malaysia’s top banks have been raising their green loan targets since last year.
The country’s biggest lender, Malayan Banking Bhd, last year said it had reached half of its RM80 billion green loan target for 2025.
Meanwhile, the second biggest lender, CIMB Bank Bhd, had pledged to direct RM100 billion in green loans by the end of this year.