Bangkok Bank issues measures to assist customers affected by the novel coronavirus outbreak
February 05, 2020
Bangkok Bank issues measures to help business and individual customers affected by the recent outbreak of novel coronavirus (2019-nCoV). The measures include easing debt repayment conditions, supporting short-term liquidity and offering additional loans. The Bank also closely monitors the situation and provides advice to help relieve customers’ burden so that they will be
fully equipped to handle the issue.
Bangkok Bank Executive Director and Senior Executive Vice President Suvan Thansathit said the novel coronavirus outbreak may negatively affect the business operations of customers. Therefore, the Bank is committed to providing financial support measures for business and individual customers by easing debt repayment conditions, supporting short-term liquidity and offering additional loans.
For business customers, the Bank is offering a grace period of up to 12 months for principal repayment, lowering loan interest rates, waiving the defaulted loan fee and restructuring debts. The Bank has also offered additional loans to SME customers under Bualuang SMEs Loan for Coronavirus Relief by supporting short-term liquidity of up to 20 million baht with an interest rate of MLR-1% per annum or considering financial support on a case-by-case basis. For large corporate customers, the Bank will offer additional loans on a case-by-case basis.
In terms of personal loans, the Bank will help adjusting loan repayment conditions, depending on suitability of each customer by lowering interest rates from the regular rate up to 50%, reducing the minimum repayment amount that must be paid to no more than 10% and waiving the defaulted loan fee during the novel coronavirus outbreak.
“The Bank cares for the well-being of our customers and is ready to assist business customers affected by the situation to propose the best solutions for each customer. Customers may contact your Bangkok Bank’s business centers or branches for more information or apply for our assistance measures,” Mr. Suvan concluded.