CIMB Group expands COVID-19 relief programmes in Malaysia

The bank has given a six month moratorium on loan repayments for affected customers.

CIMB Bank Berhad and CIMB Islamic Bank Berhad (CIMB) have expanded their financial relief programmes to customers affected by the Covid-19 outbreak.

This includes a moratorium on loan repayments for up to six months to affected customers, in addition to the standard restructuring and rescheduling financing programmes, announced earlier.

Eligible small and medium enterprises (SMEs) are able to obtain up to $227,609 in financing for a tenure of up to 5.5 years which will include a moratorium on loan repayments for a six-month period at a financing rate of 3.75% per annum.

“We are monitoring the situation closely and will consider adjusting the moratorium and financial relief for an extended period,” said Datuk Mohd Nasir Ahmad, Chairman of CIMB Group

CIMB’s bancassurance partners, Sun Life Malaysia Assurance Berhad and Berjaya Sompo Insurance, will also extend their coverage for policyholders who have been impacted by the outbreak.