CIMB expands revised financial relief for affected customers

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KUALA LUMPUR: CIMB Bank Bhd and CIMB Islamic Bank Bhd has expanded its revised comprehensive financial relief assistance programmes for all affected customers.

In a statement on Friday, CIMB said the expansion was in line with the government’s recent Pemerkasa Plus aid package announcement.

Due to the tighter Movement Control Order (MCO) 3.0 from June 1 onwards, CIMB’s latest financial relief assistance programmes will be expanded for any customer who experienced loss of employment and also any B40 customer who are recipients of the Bantuan Sara Hidup (BSH) or Bantuan Prihatin Rakyat (BPR).

It also includes any microenterprise (with borrowings up to RM150,000) and any SME that is not allowed to operate during the MCO (locked-down sectors)

“Under the relief programme, option one is a moratorium for three months; or option two which is a reduction of monthly instalments by 50% for six months, ” it said.

CIMB said affected borrowers would only have to select the preferred option and approval will be automatically provided, subject to meeting the criteria highlighted.

Individual customers who have experienced any decline in income are also able to benefit from reduced monthly instalment payments, and all other affected borrowers can also reach out to the bank to consider restructuring and rescheduling financing solutions.

“The latest repayment relief assistance programme is aimed at providing continued help to individual and B40 borrowers, microenterprises and other affected borrowers as well as expanding help to alleviate the cash flow burdens of SMEs that are unable to operate during MCO 3.0, ” it said.

Group chief executive officer of CIMB Group, Datuk Abdul Rahman Ahmad (pic, above) assured customers CIMB remains committed to provide support during this challenging period.

“The expanded financial relief assistance offered to our affected customers is to help them stay resilient given the prolonged challenges.

“We have ensured a convenient and simple process for our customers to choose a payment relief programme, suited to them, ” he said.

CIMB urges any customers impacted by the pandemic in any way to reach out to the bank. Impacted customers are able to select the preferred relief programme with minimal documentation required with reassurance that their Customers’ CCRIS (Central Credit Reference Information System) status will not be affected.

As of end-May, CIMB has processed around 165,000 financial relief applications for individual and business borrowers in Malaysia, amounting to more than RM22bil, with an approval rate of virtually 100%.



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