SINGAPORE, Feb 14 — Banks here have unveiled packages to help companies and other customers with relief assistance to help tide them over the impact of the Covid-19 outbreak. DBS and United Overseas Bank (UOB) said that the packages are aimed at helping small- and medium-sized enterprises...
Friday, 14 Feb 2020 07:06 AM MYT
A third bank, OCBC, said that it is working closely with customers, whether individuals, SMEs or large corporates, to mitigate the fallout from the outbreak and to help them through this difficult period. To address these concerns, DBS said that it will provide liquidity relief packages to address the SMEs’ most urgent cash-flow needs.
In its press statement yesterday, OCBC said that it will offer targeted support measures to assist customers across its core markets affected by the outbreak — including mainland China, Hong Kong, Macau, Malaysia and Singapore. He added: “We will help each of our customers as the case may justify and not on a first-come-first-serve basis. As we at OCBC put it, we must be ‘simply spot on’ on the assistance that our customers need.”
The bank’s relief measures aim to enable affected companies — which have good track records and have been servicing their repayments promptly — to have more flexibility in their cash-flow management.
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