Following Bank Negara Malaysia’s (BNM) guidelines, HSBC Malaysia (comprising both HSBC Bank Malaysia Berhad and HSBC Amanah Malaysia Berhad) is offering automatic moratorium for HSBC Malaysia’s individual and SME customers, whereas corporate customers can choose to opt in.
In a statement, Stuart Milne, Chief Executive Officer, HSBC Bank Malaysia said that HSBC Malaysia welcomes and fully supports BNM’s loan repayment deferment measures to aid individuals and businesses.
“HSBC will continue to support Malaysia through ups and downs, and we reaffirm our unwavering commitment to assist the local community during tough times.
“As everyone is going through very challenging times, we have taken an extra measure for our retail and SME customers where both the interest for conventional loans as well as profit on Islamic financing will not be compounded during the moratorium period,” Milne said.
HSBC hopes this proactive effort will help ease the financial burden of their retail and SME customers.
For their corporate customers, HSBC will review on a case by case basis.
They encourage their corporate customers to reach out to via their relationship managers. Please note that only non-impaired accounts are qualified for moratorium. This moratorium applies to all loans/ financing outstanding as at 1 April 2020.
HSBC Malaysia will continue to be in consultation with BNM and is ready to provide comprehensive assistance to their customers who are in need.
HSBC will be able to share more information and details by 1 April 2020 and retail customers may refer to www.hsbc.com.my/help/