Kuala Lumpur, 13 February 2020 - Alliance Bank Malaysia Berhad (“Alliance Bank”) is extending assistance to its customers impacted by the ongoing 2019 novel coronavirus (COVID-19) outbreak via several financial relief initiatives.

Alliance Bank customers who are affected by COVID-19 are eligible for financial relief. This include deferment of loan instalments or financing servicing (of principal and interest/profit), and loan restructuring and rescheduling for up to six months, as well as waiver of late charges for loans or financing.

“We understand that this is a difficult time for everyone, in particular the small-and-medium enterprises (SMEs), and empathise with customers affected by this challenging situation. We are committed to help alleviate our customers’ burden and ensure business continuity,” said Alliance Bank’s Group Chief Executive Officer, Mr. Joel Kornreich.

The Bank’s insurance partner, Manulife Insurance Berhad, is providing medical coverage to all policyholders seeking treatment related to COVID-19 within Malaysia. They are also extending the payment period to 90 days for all life insurance policies for affected policyholders. Policyholders with policies issued or reinstated before 30 January 2020 will have their 30-day waiting period waived when seeking medical treatment for COVID-19.

The Bank is also offering complimentary insurance coverage to their customers when they open an Alliance SavePlus or investment account between 14 February 2020 and 13 April 2020.

Over the past three years, the Bank has rolled out several market-leading digital propositions including Alliance Cash2Home, its mobile foreign remittance app, its recently launched digital Personal Loan which offers fast approval in as little as 10 minutes, and digital SME Loan, which offers business owners 24-hour approval-in-principle for loans of up to RM50,000.

For more information on Alliance Bank and its products and services, please visit www.alliancebank.com.my.