CIMB expands financial relief programme to customers affected by Covid-19 outbreak

Wednesday, 18 March 2020 Kuala Lumpur: CIMB Bank Berhad and CIMB Islamic Bank Berhad (collectively “CIMB” or “the Bank”) have expanded its financial relief programmes for its customers that have been impacted by the Covid-19 outbreak.

The extension of CIMB’s financial relief programme includes a moratorium on loan repayments for up to six months to affected customers in the hardest hit sectors by the outbreak.

This is in addition to the standard restructuring and rescheduling financing programmes offered to all affected individual and business customers, announced earlier.

For CIMB’s business customers, eligible SMEs are able to obtain up to RM 1 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 annum.

Datuk Mohd Nasir Ahmad, Chairman of CIMB Group, said, “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.”

For insurance/takaful policyholders through CIMB’s bancassurance partners, Sun Life Malaysia Assurance Berhad and Berjaya Sompo Insurance will extend their coverage under the respective existing policies* for policyholders who have been impacted.

*Subject to the terms and conditions of policies.

Copyright Press Releases 2020