Bank Pembangunan Malaysia will support its customers to weather the COVID-19 storm

KUALA LUMPUR, March 28 -- Bank Pembangunan Malaysia Bhd (BPMB) will provide all relevant support to its customers facing difficulties including granting a moratorium on repayments/payments of loans/financings for a period of six months. 

BPMB’s customers comprise corporations involved in key economic sectors including infrastructure, oil and gas and tourism, it said in a statement today.

This was in line with the measures announced by Bank Negara Malaysia (BNM) on March 24, 2020 to assist individuals, small and medium-sized enterprises (SMEs) and corporations to manage the impact of the COVID-19 outbreak, it said.

BPMB's president/group chief executive officer Arshad Mohamed Ismail said the bank fully support this initiative and will provide assistance to its customers in their time of need. 

“This is our duty. By supporting our customers and easing their burden, it is hoped that they will be able to guarantee the continued employment of their staff,” he said.

The moratorium is applicable to existing BPMB customers facing difficulties due to the impact of COVID-19. 

“The deferred interest/profit during the six-month moratorium will not be compounded. The deferred instalment payments/repayments of loan/financing (principal and interest/profit) will be payable by the customers upon the expiry of the moratorium period,” it said.

BPMB customers who are adversely affected by the outbreak are encouraged to reach out to their relationship managers to discuss their concerns.

-- BERNAMA