Monday, 6 April 2020

Absa offers 6-month moratorium on loan repayment

 

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Absa Bank has also offered a repayment moratorium of up to six months to all its personal and business customers who have been affected by COVID-19.

 

The bank has also reduced its lending rate by 2% to qualified personal and SME customers as well as loans to other impacted industries.

 

These measures took effect from 1 April 2020, and will be implemented across all loans due in April 2020, subject to the necessary arrangements with the bank.

 

The bank, last week, as a way of supporting customers, waived charges on interbank instant transfers on its digital channels, and also made mobile money transfers of up to GHS100 daily free.

 

Absa, also in a statement, said in the face of the challenges customers are facing due to the COVID-19 pandemic, it was only right that it offered some relief to help customers remain in business.

 

Commenting, the Managing Director, Abena Osei-Poku, said: “We have been closely monitoring developments and the growing concerns on COVID-19 in Ghana and the rest of the world, as well as reports from government and health institutions. This pandemic is nothing we have seen before and is very alarming, to say the least. As a caring bank, it is important for us to support our customers who keep us in business.”

 

“While doing that, we are also aware of the efforts the government is making to bring the situation of COVID-19 under control in Ghana. We, therefore, found it dutiful to support the government towards the purchase of test kits to help curb the spread of the virus and PPEs for the protection of our frontline health workers.”

 

The bank said it will keep monitoring developments on COVID-19 and make decisions that will be in the best interest of customers and employees.


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