KUALA LUMPUR, June 9 — Standard Chartered Malaysia and Standard Chartered Saadiq Malaysia will continue to provide financial support to affected clients through its Targeted Repayment and Payment Assistance (TRA) Programme.
In a statement today, it said the programme would enable impacted individuals and businesses to choose flexible repayment options as well as extensions on their loans and financing with the bank.
“Catering to different client segments, the TRA Programme covers financial assistance ranging from personal financing, residential and commercial mortgage, business loans to trade financing facilities,” it said.
The bank said eligibility for the programme includes individuals who had suffered a loss of employment or reduction in income, registered recipients of the Bantuan Sara Hidup or Bantuan Prihatin Rakyat, microenterprise companies and businesses that were not allowed to operate during the Full movement control order (FMCO).
Managing director and chief executive officer of Standard Chartered Malaysia Abrar A. Anwar said applying an approach that is flexible yet targeted and adjusting them when a recovery is firmly in place, would set the stage for a more durable and sustainable recovery.
In a separate statement, AmBank said it has also stepped up the ongoing efforts in providing relief to affected customers, both individuals as well as small and medium enterprises (SMEs), affected by the FMCO.
It said the repayment assistance would be extended to all AmBank customers who had experienced loss of employment, recipients of the Bantuan Sara Hidup or Bantuan Prihatin Rakyat, microenterprises as well as SMEs who were not allowed to operate during the FMCO.
It further said affected customers were given the choice of a payment deferment for three months or a reduction of monthly instalments by 50 per cent for a period of six months.
Group chief executive officer of AmBank Group Datuk Sulaiman Mohd Tahir said the bank would continue to engage with affected customers and at the same time urged the customers to reach out to the bank to discuss repayment assistance.
“To this end, as at March 31, 2021, we have extended approximately RM15.2 billion in repayment assistance for loans and financing for all customer segments and have approved close to 100 per cent of these applications,” he added.
Source: https://www.malaymail.com/news/money/2021/06/09/standard-chartered-malaysia-ambank-extend-financial-support-for-customers/1980922