KUALA LUMPUR: Malayan Banking Bhd (Maybank) says it will continue to make available repayment assistance to support its individual and small and medium enterprise (SME) customers whose livelihoods have been impacted by the Covid-19 pandemic.
In a statement today, Maybank said customers who require financial assistance can contact the bank to discuss and work out the most suitable repayment assistance package.
It said applications can be submitted through various channels including online for enhanced convenience.
"Maybank's priority is to ensure that its customers continue to have access to the financial assistance they require as the pandemic prolongs and to be able to have some cashflow relief as they seek to manage their various other obligations during this challenging period," it said.
As at early May 2021, Maybank said it had processed over 200,000 repayment assistance applications and approved all eligible applications processed amounting to RM32 billion.
Of these approved applications, about 37 per cent had been granted a further deferment in the repayment of their loans and financing, while the remaining customers had been granted lower instalment payments for an agreed duration.
Besides repayment assistance, the bank continues to make available various financing solutions to businesses and individuals.
On Sunday, Bank Islam Malaysia Bhd announced that it was extending its enhanced targeted repayment assistance for customers adversely impacted by the pandemic.
The measure is in line with Bank Negara Malaysia's call for banking and financial institutions to assist borrowers based on their specific financial circumstances, following the re-imposition of the movement control order (MCO) nationwide until early of next month.
Bank Islam's enhanced targeted repayment assistance was announced on November 23, 2020 to assist customers seeking for three-month deferment or reduction of up to 50 per cent monthly instalments for six months.
This financial assistance was offered to all financings approved before October 1, 2020, which are not in arrears for more than 90 days at the time of application.
Previously, Bank Islam announced that the application for enhanced targeted repayment assistance is to close at the end of June 2021.