KUALA LUMPUR, March 18 (Bernama) --  CIMB Bank Berhad and CIMB Islamic Bank Berhad (collectively “CIMB” or “the Bank”) have expanded its financial relief programmes for its customers that have been impacted by the Covid-19 outbreak. 

The extension of CIMB’s financial relief programme includes a moratorium on loan repayments for up to six months to affected customers in the hardest hit sectors by the outbreak. 

This is in addition to the standard restructuring and rescheduling financing programmes offered to all affected individual and business customers, announced earlier.   

For CIMB’s business customers, eligible SMEs are able to obtain up to RM 1 million in financing for a tenure of up to 5.5 years. This includes a moratorium on loan repayments for a six-month period at an affordable financing rate of 3.75% per annum. 

Datuk Mohd Nasir Ahmad, Chairman of CIMB Group, said, “As a responsible corporate citizen, we hope to be able to do our part by providing financing relief to help alleviate the financial burden of affected customers from the Covid-19 outbreak. We are monitoring the situation closely and will consider adjusting the moratorium and financial relief for an extended period.”   

For insurance/takaful policyholders through CIMB’s bancassurance partners, Sun Life Malaysia Assurance Berhad and Berjaya Sompo Insurance will extend their coverage under the respective existing policies* for policyholders who have been impacted.  
 
*Subject to the terms and conditions of policies. 
  
About CIMB Group 
 
CIMB Group is one of ASEAN’s leading universal banking groups and is Malaysia’s second largest financial services provider, by assets. It offers consumer banking, commercial banking, investment banking, Islamic banking and asset management products and services. Headquartered in Kuala Lumpur, the Group is present in all 10 ASEAN nations (Malaysia, Indonesia, Singapore, Thailand, Cambodia, Brunei, Vietnam, Myanmar, Laos and Philippines). Beyond ASEAN, the Group has market presence in China, Hong Kong, India, Korea, the US and UK.  
 
CIMB Group has one of the most extensive retail branch networks in ASEAN with 702 branches as at 31 December 2019. The Group’s investment banking arm is one of the largest Asia Pacific-based investment banks, while it offers comprehensive research coverage around of 950 stocks in the region via its CGSCIMB joint venture.  
 
CIMB Group operates its business through three main brand entities, CIMB Bank, CIMB Investment Bank and CIMB Islamic. CIMB Group is also the 92.5% shareholder of Bank CIMB Niaga in Indonesia, and 94.8% shareholder of CIMB Thai in Thailand.  
 
CIMB Group is listed on Bursa Malaysia via CIMB Group Holdings Berhad. It had a market capitalisation of approximately RM51.1 billion as at 31 December 2019. The Group has around 35,000 employees located in 15 countries. 
 
SOURCE: CIMB Group 
 
FOR MORE INFORMATION, PLEASE CONTACT: 
Name: Lynn Guha Thakurta
Group Corporate Communications
CIMB Group Holdings Berhad
Tel: +6012-2990931 
Email: lynn.thakurta@cimb.com 

--BERNAMA