AmBank offers special relief facility for SMEs, individuals

AmBank Group is offering temporary payment deferment for its customers, both individuals and businesses, which have been impacted by the COVID-19 pandemic.

In a statement today, the group said it is proactively engaging with customers via its Relationship Managers to extend their trade bills by one cycle in order to further cushion the pandemic’s impact to cash flow.

AmBank chief executive officer, Datuk Sulaiman Mohd Tahir said the group is also offering a Special Relief Facility comprising financing of up to RM1 million to small medium enterprises (SMEs) which have been adversely affected by the COVID-19.

“AmBank has established a simple process for those applying for this facility with approvals to be given within 24 hours and disbursements within five days of approval, and we are working towards reducing the disbursement time frame even further.

“Additionally, we are reaching out to our SME customers from all sectors of the economy who are impacted by the current Movement Control Order in order to gauge other ways we can be of service in these difficult times,” Sulaiman said.

He added that the bank will also review the need for additional programmes to address the credit and financing needs of individual customers.

Meanwhile, the group’s insurance arms, AmMetLife and AmMetLife Takaful have also introduced supportive financial relief to assist policy owners affected by the COVID-19.