Alliance Bank provide measures for customers impacted by Covid-19

  • Banking
  • Friday, 20 Mar 2020

KUALA LUMPUR: Alliance Bank Malaysia Bhd has been providing moratoria on loan instalments and restructuring or rescheduling (R&R) of loans for customers that are impacted by the ongoing COVID-19 pandemic.

In a statement today, its group chief executive officer Joel Kornreich said to-date, the bank has approved financing of close to RM70 million to affected businesses and consumers under several financial relief initiatives, one of which being the COVID-19 Special Financing Facility for small and medium enterprises (SMEs).

"This is a challenging time for everyone. We know that business owners are struggling to sustain their business cash flows, and individuals are also financially impacted by the current situation. We have extended financial assistance to those in need.

"Our relationship managers have been actively engaging with our customers to discuss, assess and tailor the right solutions for them in their time of need. In addition, all Alliance Bank customers will receive a fee rebate for each ATM MEPs transaction beginning March 26, 2020, for a month,” he said.

Among measures offered by the bank to help alleviate the financial strains of its customers are COVID-19 Special Financing Facility, Moratorium on Loan/Financing Repayment, Loan Restructuring and Digital Banking Accessibility. - Bernama

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