KUALA LUMPUR, March 21 — United Overseas Bank (Malaysia) Bhd (UOB Malaysia) has announced relief measures to assist its customers in Malaysia affected by the COVID-19 outbreak.
In a statement today, the bank said the measures were to help its corporate clients, in particular the small- and medium-sized enterprises (SMEs), and individual customers to have more flexibility in their cash flow management and to ease their financial burden.
The measures, which are for both its conventional and Islamic banking customers, include a moratorium on their loan repayments for up to one year; the flexibility to request an extension of trade bills maturing between March 18 and 31, 2020, for clients with good track records; applications for the government-administered Special Relief Facility; and a moratorium of up to six months on their personal loans, mortgages and credit cards for individual customers.
“We are committed to supporting and helping our customers who are impacted by COVID-19 and we will respond swiftly in helping them alleviate their financial burden,” UOB Malaysia chief executive officer Wong Kim Choong said in the statement.
UOB Malaysia’s measures for its customers will be assessed and approved on a case-by-case basis.
“The bank will continue to evaluate its list of relief measures for both its conventional and Islamic banking customers to ensure it provides them with the adequate level of support to help them through this difficult time.
“During this period, the bank encourages customers to consider the convenience of using UOB Personal Internet Banking, UOB Business Internet Banking Plus and the UOB Mighty mobile banking app instead of making physical visits to its branches,” he said.