PETALING JAYA: Malayan Banking Bhd (Maybank) and Maybank Islamic have extended repayment assistance worth over RM 77 billion to more than 420,000 retail and SME customers to address the impact of the Covid-19 pandemic.
The group revealed that these clients with more than 500,000 financing loans / accounts translate to almost a third of its total consumer and small and medium business loan / finance portfolio in Malaysia, based on the outstanding balance. .
Maybank Community Financial Services Group CEO Datuk John Chong revealed that the proportion of outstanding balance-based repayment assistance loans / funding more than doubled in the last two months after the automatic moratorium six months in July 2021 due to the government’s Pemulih program.
He said the bank had approved all eligible applications submitted by individual clients, microenterprises and SMEs under the program, and would continue to offer repayment assistance to borrowers in need of continued financial assistance resulting from the disruption caused by the pandemic.
“While we are now witnessing the gradual reopening of the economy following the successful rollout of immunization, we understand that there are still clients who continue to need a helping hand given the impact that they suffered various restrictions on movement, “Chong said in a statement. statement today.
“Maybank remains committed to supporting all of our clients whose livelihoods have been disrupted and will continue to help ease their cash flow burden, while working to stabilize their livelihoods. “
Regarding aid, he revealed that 69% of the total outstanding balance falls under the option of deferred payment (moratorium).
“For some severely affected customers, we are giving a longer moratorium period on their loan / funding repayments as part of efforts to ensure they stay afloat throughout this period.”
Chong said the banking group will continue to offer repayment assistance and urged all customers who need it to submit their request.
Under the Pemulih Repayment Assistance program, clients can opt for a six-month moratorium or a 50% reduction in down payments for six months for their loans / financing.
Apart from this, Maybank also offers other assistance plans which may be better suited to the financial situation of the clients.