AmBank extends repayment aid plan until June 2021


Group chief executive officer of AmBank Group, Datuk Sulaiman Mohd Tahir said the bank had already provided repayment assistance for loans and facilities amounting to more than RM11bil so far.

KUALA LUMPUR: AmBank Group is extending its targeted repayment assistance programme until June 30,2021 to support SMEs and Malaysians affected by Covid-19 pandemic.

Group chief executive officer of AmBank Group, Datuk Sulaiman Mohd Tahir said in a statement on Monday the bank had already provided repayment assistance for loans and facilities amounting to more than RM11bil so far.

Announcing the extension, the bank intends to provide more assistance customers impacted by job loss or are facing reduced monthly income due to the pandemic.

To recap, since the start of the moratorium period in March, AmBank has reached out to its lending and financing customers through SMS blasts, telephone calls and engagement with customers, emails, website announcements as well as social media platforms.

Selected AmBank branches have also been opened to assist customers who are facing financial constraints.

Sulaiman said AmBank was making available tailored rescheduling and restructuring plans to suit and meet its customers’ respective financial commitments.

“Our relationship managers and customer service frontliners are ready to lend a helping hand by engaging with our customers.

“We have reached out to more than 500,000 customers to offer repayment assistance. As at mid-October 2020, we have processed more than 60,000 applications from individuals and SME customers and approved close to 100% of these applications.

“We are pleased to have extended repayment assistance for loans and facilities amounting to more than RM11 billion, ” he added.

Sulaiman said AmBank would continue to engage its customers who have yet to submit their application, especially those in the affected industries who are severely impacted by the pandemic.

The repayment assistance application is available on AmBank’s website for the ease of customers staying in in Conditional Movement Control Order (CMCO) areas.

The bank also said throughout the CMCO period, it encouraged customers to use its AmBank’s digital banking platform, AmOnline, for their business transactions.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 18
Cxense type: free
User access status: 3

   

Did you find this article insightful?

Yes
No

91% readers found this article insightful

Next In Business News

Morgan Stanley CEO's annual pay rises by over 20%
‘Unstoppable’ luxury stocks remind some investors of US tech
Ambani’s Reliance doubles down on 5G pledge after record profit
PUNB offers payment deferment, rental discount
CPO futures may undergo technical correction next week
Blackstone-backed Patria eyes expansion in Latam, Asia
METALS: Tin, aluminium, copper prices down
Oil price falls on China's COVID-19 cases, high crude build
IBM, Intel slump weighs on Wall St as coronavirus concerns rise
GLOBAL MARKETS-Weak data, earnings drag stocks lower

Stories You'll Enjoy