CIMB EXPANDS FINANCIAL RELIEF PROGRAMMES FOR CUSTOMERS AFFECTED BY COVID-19
KUALA LUMPUR, March 18 -- CIMB Bank Bhd and CIMB Islamic Bank Bhd have expanded their financial relief programmes to include a moratorium on loan repayments for up to six months to affected customers in the sectors hardest hit by the COVID-19 outbreak.
CIMB Group chairman Datuk Mohd Nasir Ahmad said the extension of the programme is in addition to the standard restructuring and rescheduling financing programmes offered to all affected individual and business customers announced earlier.
He said for CIMB’s business customers, eligible SMEs are able to obtain up to RM1 million in financing for a tenure of up to 5.5 years. This includes a moratorium on loan repayments for a six-month period at an affordable financing rate of 3.75 per cent per annum.
“As a responsible corporate citizen, we hope to be able to do our part by providing financing relief to help alleviate the financial burden of affected customers from the COVID-19 outbreak.
"We are monitoring the situation closely and will consider adjusting the moratorium and financial relief for an extended period," he said in a statement today.
As for insurance/takaful policyholders through CIMB’s bancassurance partners, Mohd Nasir said Sun Life Malaysia Assurance Bhd and Berjaya Sompo Insurance will extend their coverage under the respective existing policies for policyholders who have been impacted.
-- BERNAMA
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