KUALA LUMPUR (June 9): AMMB Holdings Bhd (Ambank Group) said as at March 31, 2021, it has extended approximately RM15.2 billion in repayment assistance in its efforts to provide relief to customers — individuals and SMEs — who are affected by the Covid-19 pandemic.

It added that the RM15.2 billion in repayment assistance was for loans and financing for all customer segments and the group has approved close to 100% of these applications.

“We aim to extend this service further, up to 31 December 2021 and are also conscious of the need to review the potential of granting further extensions, if need be, in light of MCO 3.0,” said Ambank Group Chief Executive Officer Datuk Sulaiman Mohd Tahir in a statement.

AmBank’s efforts are in line with the Government’s targeted repayment assistance initiative, which was announced under the Pemerkasa Plus financial aid package.

According to Sulaiman, the bank will continue to assist customers through the repayment assistance packages and the rescheduling and restructuring plans that meet their respective needs.

Furthermore Ambank will be proactively engaging with customers via relationship managers to extend their trade bills by one cycle in order to further cushion the impact to cash flow.

The repayment assistance, AmBank noted, will be extended to all its customers who have experienced loss of employment, B40 who are recipients of the Bantuan Sara Hidup (BSH) or Bantuan Prihatin Rakyat (BPR) and any microenterprise (with approved loan/financing facilities of less than RM150,000) as well as small medium and entreprises (SMEs) and microenterprises that are not allowed to operate during the Movement Control Order with the choice of a payment deferment for three months or a reduction of monthly instalments by 50% for a period of six months.

In addition to this, the bank said all individual loan or financing customers who have suffered a reduction in income will be offered a lower monthly instalment payment plan, which corresponds with the reduction in their income.

It added that for customers who are not eligible for any of the above-mentioned schemes or would require other forms of assistance,  Ambank is also providing repayment assistance which suits the financial needs and circumstances of these customers, as part of its initiative to help alleviate the financial burden of customers in need.

For more information on the repayment assistance, customers can visit the bank’s website at https://www.ambank.com.my/eng/repayment-assistance.