KUALA LUMPUR (March 7): About 438,000 Public Bank customers with total loans of about RM83 billion had received Covid-19 repayment assistance as at end-2021 to manage their debt burden.
The bank said it had consistently reached out to its customers to ensure that those in need of financial assistance receive the necessary help, as well as providing support to small and medium enterprises (SMEs).
It said support for SMEs remained unwavering during the Covid-19 pandemic where about RM3.4 billion of financing had been approved under special schemes initiated by the government and Bank Negara Malaysia (BNM), benefiting more than 17,000 SMEs during this unprecedented period.
“Public Bank has been proactive in providing support to its customers since the beginning of Covid-19 and will continue to provide repayment assistance to those affected by the pandemic while supporting the nation’s economic recovery.
"Every single ringgit of financing that goes to SMEs will have a high multiplier effect — from the purchase of raw materials to paying employees’ salaries and eventually contributing taxes.
“Public Bank, as one of the main SME financiers in the country, will continue to provide financing access to SMEs in support of the nation’s economic recovery,” its managing director and chief executive officer Tan Sri Tay Ah Lek said in a statement.
Going forward, he said Public Bank is fully committed to further strengthening its role as a financial intermediary contributing to the nation’s development.
“Public Bank is fully supportive of BNM’s Financial Sector Blueprint 2022-2026. Guided by the three broad themes under the Blueprint, ‘Finance For All’, ‘Finance For Transformation’ and ‘Finance For Sustainability’, Public Bank aims to further propel its strength in banking to support the nation’s economic transformation and strengthen financial well-being for households and businesses while accelerating the transition to a greener economy,” he added.
Source: https://www.theedgemarkets.com/article/about-438000-public-bank-customers-received-covid19-repayment-assistance-end2021