Alliance Bank extends RM7b under loan modification, moratorium


Alliance Bank Malaysia Bhd has extended over RM7bil in loan modifications and moratoria, with an approval rate of over 95%.

KUALA LUMPUR: Alliance Bank Malaysia Bhd has extended over RM7bil in loan modifications and moratoria, with an approval rate of over 95%.

The bank has also disbursed more than RM600mil in special relief fund and RM120mil in targeted relief and recovery facility provided by Bank Negara Malaysia.

Alliance Bank said on Monday it will continue to extend its payment relief assistance (PRA) packages to help individuals and businesses facing cash-flow constraints due to the COVID-19 pandemic.

The bank said Individuals, who have lost their jobs or whose income have been affected by the pandemic, may apply for the PRA while similar support are extended to businesses experiencing reduced business revenue.

The bank said it has simplified the application process to make it easier for customers to obtain a PRA package and has launched a WhatsApp business account to provide a quicker response to customer queries about the PRA.

It noted that there is no impact on customers’ Central Credit Reference Information System (CCRIS) record if they apply for the PRA package before Dec 31,2021.

"Our key priority is to continue helping our customers to weather the effects of this pandemic.

"We urged customers facing financial challenges to contact us as soon as possible to discuss a suitable relief package to ease their financial commitment, ” said group chief executive officer Joel Kornreich. - Bernama

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