KUALA LUMPUR: Citi Malaysia will continue to offer customers impacted by the Covid-19 pandemic the option to choose the repayment assistance which suits their financial needs.
It said on Monday the repayment assistance was in line with the targeted repayment assistance announced recently by the Association of Banks in Malaysia offers a loan deferment (moratorium) for three months or 50% reduction in the monthly instalment payment for six months.
Individual customers who have lost their employment, B40 borrowers registered under the Bantuan Sara Hidup (BSH) and Bantuan Prihatin Rakyat (BPR), microenterprises with loan facilities of not more than RM150, 000 and SME customers not on the list of permitted sectors allowed to operate can opt for this specific repayment assistance.
Citi Malaysia said M40 and T20 customers still employed but have had their incomes affected, will continue to be offered repayment assistance options as well. This includes reduction in monthly instalment for a period of six months.
It added that it will also continue to offer all other customers its existing financial assistance packages including rescheduling and restructuring of loans on a case-by-case basis.
Citi Malaysia chief executive officer Usman Ahmed said the financial well-being of its customers is a priority especially those unable to meet their financial obligations.
“We are actively engaged with them to assess immediate needs in the short term, offer them the financial relief which they need while supporting them in building a sustainable financial future for the long-term.
“Focus will be placed on ensuring that the right assistance is extended to customers that need it the most during this time. At Citi, we are committed to the delivery of best-suited financial solutions to every customer and we have done this consistently to assist customers during this pandemic, ” he said.
He said as the pandemic situation has evolved from the first outbreak last year and there are vaccines available globally today, financial support in most markets today is centered on a more targeted repayment approach so that assistance is extended to those adversely impacted.
“The financial sector has ably demonstrated the flexibility and agility to review assistance commensurate with the economic environment and pandemic situation. We will continue to do this and act responsibly in the best interest of all, ” he added.