AmBank extends repayment aid plan until June 2021

KUALA LUMPUR (THE STAR) – AmBank Group is extending its targetted repayment assistance programme until June 30, 2021 to support SMEs and Malaysians affected by Covid-19 pandemic.

Group Chief Executive Officer of AmBank Group Datuk Sulaiman Mohd Tahir (pic below) said in a statement yesterday the bank had already provided repayment assistance for loans and facilities amounting to more than MYR11 billion so far.

Announcing the extension, the bank intends to provide more assistance customers impacted by job loss or are facing reduced monthly income due to the pandemic.

To recap, since the start of the moratorium period in March, AmBank has reached out to its lending and financing customers through SMS blasts, telephone calls and engagement with customers, emails, website announcements as well as social media platforms. Selected AmBank branches have also been opened to assist customers who are facing financial constraints.

Sulaiman said AmBank was making available tailored rescheduling and restructuring plans to suit and meet its customers’ respective financial commitments.

“Our relationship managers and customer service frontliners are ready to lend a helping hand by engaging with our customers.

“We have reached out to more than 500,000 customers to offer repayment assistance. As at mid-October 2020, we have processed more than 60,000 applications from individuals and small and medium enterprise customers and approved close to 100 per cent of these applications.

“We are pleased to have extended repayment assistance for loans and facilities amounting to more than MYR11 billion,” he added.

Sulaiman said AmBank would continue to engage its customers who have yet to submit their application, especially those in the affected industries who are severely impacted by the pandemic.

The repayment assistance application is available on AmBank’s website for the ease of customers staying in in Conditional Movement Control Order (CMCO) areas.

The bank also said throughout the CMCO period, it encouraged customers to use its AmBank’s digital banking platform, AmOnline, for their business transactions.