UOB Malaysia remains committed to supporting customers beyond loan moratorium to manage the prolonged impact of COVID-19 pandemic
Customers who need further financial assistance post-moratorium are asked to contact the Bank
Kuala Lumpur, Malaysia, 16 July 2020 –United Overseas Bank (Malaysia) Bhd (UOB Malaysia) today announced that it will continue to assist customers beyond the loan moratorium to help them manage the prolonged impact of the COVID-19 pandemic on their businesses and personal financial situation. With the moratorium due to end in September 2020, customers who need further financial assistance post-moratorium are asked to contact the Bank soonest. Their requests will be assessed on a case-by-case basis. The Bank will then work out options to help these customers meet their loan obligations through this unprecedented period.
In March 2020, UOB Malaysia announced relief measures, including a six-month moratorium on loan repayments, to provide immediate financial assistance to its individual and business customers in Malaysia affected by the COVID-19 outbreak.
UOB Malaysia will continue to review its COVID-19 relief measures for both its conventional and Islamic banking customers to ensure relevant support to help them through post-moratorium. The support includes the option to restructure their financial repayments based on their cash flow requirements and to ensure their financial needs are met.
Mr Wong Kim Choong, Chief Executive Officer, UOB Malaysia, said, “UOB has always stood by our customers over the years and we will continue to do what is right by them in today’s extremely trying times. We have been proactively working with them to come up with the right solutions in meeting their cash flow requirements and to ensure their financial needs are supported through and beyond this crisis.
“It is uncertain as to how long or how deep the impact of the COVID-19 pandemic will be. While many customers have been managing better than expected given the circumstances, we know that some customers will require further support. We will continue to engage them over the next few months to discuss the options available so that they will be better positioned for the recovery that will come. We strongly encourage customers to approach the Bank as early as possible, before the loan moratorium ends on 30 September 2020,” Mr Wong said.
For more information, UOB Malaysia’s customers can contact their relationship managers, visit the Bank’s website at https://www.uob.com.my/default/contact-us.page#contact, contact the 24-hour UOB Contact Centre at 03-2612 8121 or email firstname.lastname@example.org