Banks in Malaysia Ease Debt Schedules on 2019-nCoV Pressure

Business

Across the board and in-line with other banks around the world, many banks in Malaysia are beginning to offer relief measures. Customers affected by the global 2019-nCoV virus spread can in many cases restructure and / or reschedule their loans.

CIMB Bank and CIMB Islamic Bank consumer banking customers who have been impacted by the virus will be eligible for such plans. CIMB’s business customers who have been impacted by the virus can also approach the Bank to discuss and reschedule their payment arrangements.


Tengku Dato’ Sri Zafrul Aziz, Group CEO, CIMB Group said, “CIMB is committed to treating our customers fairly and compassionately, particularly those affected by adversity. We would also like to reassure our customers that all cases will be given due consideration. We hope that all the measures put in place will provide some relief to those customers impacted by the virus. CIMB is also open to the possibility of extending repayment periods for customers, where necessary.”

Export-Import Bank of Malaysia (EXIM Bank) is also set to aid clients whose businesses are affected by the COVID-19 outbreak by exploring ways to ease the financial obligations they may have with the Bank. EXIM Bank is open to discussion and all affected clients can approach their relationship managers to assist on a case-to-case basis.

“As the preferred trade financier of global businesses, EXIM Bank will assist our affected clients go through this difficult period by dispelling their fears as they continue to monitor and build their businesses,” said EXIM Bank President/Chief Executive Officer Dato’ Nazri Abdul Rahim.

AmBank Group will also offer temporary deferment or restructuring of instalment repayments for its individual and SME customers in the wake of the Novel Coronavirus (2019-nCoV).

“This is a trying time for everyone in Malaysia, and globally as well. As a caring bank, AmBank is sympathetic towards the plight of our customers, particularly individuals and SMEs, who are affected by the 2019-nCoV. AmBank is committed in assisting them during this trying time,” said Dato’ Sulaiman Mohd Tahir, Group Chief Executive Officer, AmBank Group.

Individual and SME customers who are affected by the 2019-nCoV may approach AmBank, which will then evaluate and consider offering temporary deferment or restructuring of instalment repayments to ease the burden of its customers, who are more susceptible to the adverse impact arising from the 2019-nCoV.