MAYBANK IS TOP CONTRIBUTOR TO ABM'S FUND TO FIGHT COVID-19

KUALA LUMPUR, March 26 -- Malayan Banking Bhd (Maybank) has emerged as the biggest contributor to the total fund of RM10 million collected under an Association of Banks in Malaysia’s (ABM) initiative to support Malaysia’s fight against the COVID-19 pandemic.

The country’s largest bank contributed RM2.5 million while 10 other ABM members contributed RM500,000 to RM1 million each, the association said in a statement.

The 10 other commercial banks are Alliance Bank Malaysia Bhd, AmBank (M) Bhd, CIMB Bank Bhd, Hong Leong Bank Bhd, HSBC Bank Malaysia Bhd, OCBC Bank (Malaysia) Bhd, Public Bank Bhd, RHB Bank Bhd, Standard Chartered Bank Malaysia Bhd and United Overseas Bank (Malaysia) Bhd.

"ABM is working together with MERCY Malaysia in its COVID-19 Strategic Preparedness and Response Plan to channel these funds specifically for critical preparedness, readiness and response support actions for the Ministry of Health and the National Crisis Preparedness and Response Centre,” it said.

ABM, which has 26 members, said member banks are aware that adequate medical supplies and equipment are needed during such times of emergency, which are paramount when providing critical and life-saving measures to those affected by COVID-19.

ABM said the RM10 million collected under this initiative does not include individual contributions announced by some member banks prior to this, which would be managed separately by the banks concerned for their respective programmes aimed also at helping to combat the COVID-19 outbreak.

Meanwhile, Public Bank managing director and chief executive officer Tan Sri Tay Ah Lek said the combined contribution of funds by the commercial banks is hoped to aid MERCY Malaysia to obtain and channel essential resources to where they are needed most in the nation’s ongoing efforts to fight COVID-19.

-- BERNAMA