HLB, Hong Leong Islamic Bank provide RM33.4bil payment relief assistance

HLB group managing director and chief executive officer Domenic Fuda

KUALA LUMPUR: Hong Leong Bank and Hong Leong Islamic Bank (HLB) have extended RM33.4bil of payment relief assistance as at Sept 17.

In a statement Tuesday, the bank said the payment included the PEMULIH payment/repayment relief assistance introduced this July to its individual and SME customers.

The bank also said it maintained a 100% approval rate for eligible customers who have applied for payment relief assistance and would continue to work closely with borrowers to provide payment relief assistance to those who are affected.

Group managing director and CEO Domenic Fuda said the bank was fully committed to help customers recover from the impacts of the pandemic.

He stressed that HLB would continue to be steadfast in supporting customers through the payment assistance programs for as long as the situation calls for them to be in place, just like they have done from the onset of the pandemic in February 2020.

“The opening up of the economy and high vaccination rates signal that we can positively move into the recovery phase.

“However, we recognise the recovery journey will take some time and will be uneven, with cashflow remaining a key concern to the business community, especially SMEs, individuals and families who have suffered income or job loss due to prolonged and multiple lockdowns,” he said.

Fuda added that the bank had simplified the application process for the various repayment programs to ensure applications can be easily done online through its website, hassle-free.

“We also have a no-rejection policy where we do not turn away any customers who apply for relief assistance.

“If they require independent assessment and assistance, we will refer their cases to the Credit Counselling and Debt Management, who provides free services on money management, credit counselling, financial education and debt restructuring for individuals or Small Debt Resolution Committee for SMEs,” he said.

In addition, the bank is also extending loans and financing to customers who have been looking for working capital to restart or increase their operations back to 100% capacity.

From January 2021 to August 2021, HLB has disbursed new financing of RM3.952bil to SME customers, supporting them not only towards their recovery journey but to fortify their business to be more sustainable.

For more information on HLB payment relief plans, please visit www.hlb.com.my/relief or visit one of the bank branches. HLB advises to use the digital channel as a means to reduce contact.

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