Citi Malaysia to continue targeted aid for Covid-19-affected customers

A view of the exterior of the Citibank corporate headquarters in New York, New York, US, May 20, 2015. — Reuters pic
A view of the exterior of the Citibank corporate headquarters in New York, New York, US, May 20, 2015. — Reuters pic

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KUALA LUMPUR, June 14 — Citi Malaysia will continue to offer customers impacted by the Covid-19 pandemic repayment options that best suit their financial needs.

This is in line with the Targeted Repayment Assistance (TRA) announced recently by the Association of Banks in Malaysia (ABM), which offers borrowers a loan deferment (moratorium) for a period of three months or a 50 per cent reduction in the monthly instalment payment for a period of six months.

In a statement today, the bank said individual customers who have lost their employment, borrowers from the B40 income group registered for the Bantuan Sara Hidup (BSH) and Bantuan Prihatin Rakyat (BPR), micro-enterprises with loan facilities of not more than RM150,000 and small and medium enterprises (SME) which are not on the list of permitted sectors allowed to operate during the Movement Control Order can opt for the TRA.

The bank said customers from the M40 and the T20 income group who are still employed but have had their incomes affected will also be offered repayment assistance options as well.

Additionally, Citi Malaysia said it will also continue to offer all other customers its existing financial assistance packages, including the rescheduling and restructuring of loans on a case-by-case basis.

Chief executive officer Usman Ahmed said the bank is actively engaged with customers who are unable to meet their financial obligations to assess their immediate needs in the short term to support them in building a sustainable financial future for the long term.

“Focus will be placed on ensuring that the right assistance is extended to customers that need it the most during this time.

“At Citi, we are committed to the delivery of best-suited financial solutions to every customer and we have done this consistently to assist customers during this pandemic,” he said.

He added that the financial sector has ably demonstrated flexibility and agility to ensure that the assistance commensurate with the economic environment and pandemic situation.

Customers are encouraged to utilise Citi’s digital banking channels, including Citibank Online at www.citibank.com.my and the Citi Malaysia mobile app, while the CitiPhone services are available and operating as usual.

Citi Priority, Citigold and eligible SME clients can contact their relationship managers to set up appointments as necessary through audio, video or conference calls. — Bernama

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