RHB Bank more than doubled its green loans target to RM50 billion (S$14.2 billion) by 2026 after the Malaysia lender surpassed its original target last year.

The bank had mobilised RM23.8 billion in green financing as of end 2023, exceeding its initial target of RM20 billion by 2026 under their sustainability strategy launched in 2022, RHB said in a statement on Thursday (Apr 18).

Malaysia’s top banks have been raising their green loan targets since last year. The country’s biggest lender, Malayan Banking, last year said it had reached half of its RM80 billion green loan target for 2025.

Its second biggest lender, CIMB Bank, had pledged to direct RM100 billion in green loans by the end of this year. BLOOMBERG