Bank has extended RM7 billion in loan relief assistance
Kuala Lumpur, 22 June 2021 - Alliance Bank reaffirms its commitment to continue extending payment relief assistance to customers and is using innovative ways to enable them to sign up easily.
Customers can select their payment relief package within minutes either through the phone or by replying to a SMS or WhatsApp message sent by the Bank. Customers can also have their payment relief queries addressed quickly through the Bank’s WhatsApp business account.
“The bank has made it so simple to get the help I need. They knew I was from the aviation sector, which is one of the sectors most affected by the pandemic. They modified my housing loan and personal loan to make the monthly instalments more affordable. You can tell that they are trying to help and that they understand how challenging it is for us,” explained Ms Nur Haliza from Puchong, Selangor.
“With the ongoing economic sector restrictions, we urge customers facing financial challenges to contact us as soon as possible to discuss a suitable relief package,” said Mr Joel Kornreich, Group Chief Executive Officer of Alliance Bank.
To date, the Bank has provided over RM6 billion in Payment Relief packages and close to RM840 million in extended moratoria to businesses and individuals. As a result, approximately 15% of its borrowing customers are now under its payment relief assistance programme.
“We are also actively reaching out to customers who have an existing payment relief package with us (that will soon expire) to discuss their latest financial circumstances and apply the required modifications and extensions,” said Mr Kornreich.
“My relationship manager called me to find out how things were with my business, and I told him I was worried about my monthly instalments. We discussed a few payment relief options, and I took up one of his recommendations. So now I can focus on running my business,” said Mr Foo, who is an operator of a curtain wholesale supply and service business and a retailer of men’s garments in Georgetown, Penang.
The Bank assures its customers that there is no impact on their Central Credit Reference Information System (“CCRIS”) record if they apply for payment relief assistance before 31 December 2021.
“We continue to reach out to our customers via different platforms such as the corporate website and social media channels to inform them of the various payment relief options available. We have also promoted the Payment Relief Assistance through highly visible street billboards in 25 key locations across the Klang Valley, and digital billboards in 12 shopping malls and 25 petrol stations,” added Mr Kornreich.
Other Help Available
Beyond the Payment Relief Assistance offered by banks, the government also makes available various funds to help businesses during this time. Alliance Bank continues to facilitate applications for various government economic support schemes.
“We have disbursed more than RM600 million in Bank Negara Malaysia’s Special Relief Fund to help SMEs, and an additional RM120 million through the central bank’s Targeted Relief and Recovery Facility,” explained Mr Kornreich. In addition, the Bank also disbursed over RM800,000 to help micro-entrepreneurs and vulnerable communities through SocioBiz, its social crowdfunding platform.
“We will continue to facilitate applications for government relief funds such as the Targeted Relief and Recovery Facility, Micro Enterprises Facility and High Tech Facility on behalf of our customers,” he added.
Alliance Bank customers interested in applying for the Payment Relief Assistance may leave their contact details at www.alliancebank.com.my or call Contact Centre at 03-5516 9988.
