Assistance from banks remains available to help small business borrowers

June 19, 2023

Kuala Lumpur, Monday, 19 June 2023 – Member banks of The Association of Banks in Malaysia (ABM) remain ready and willing to assist their small business borrowers who are facing difficulties in servicing their debt repayments as a result of the recent increase in borrowing costs following increases in the Overnight Policy Rate (OPR).

ABM and its member banks take cognisance that the monthly repayment instalments for loans with floating interest rates would have increased following the multiple recent increases in the OPR.  As a result, some borrowers of various sizes, especially the small businesses, may be finding it more difficult to meet their repayment obligations.  To provide support to their customers in need, the banks reiterate that they have ongoing respective assistance measures, such as rescheduling and restructuring (R&R), to aid their small business borrowers. 

Borrowers who are in need of financial assistance are advised to contact their respective banks through their banks’ official channels, as soon as possible to discuss financial repayment options that suit their own individual financial circumstances.  

Customers are reminded to be wary of scammers and only apply for any financial assistance through official bank channels. Bank customers are also advised not to deal with any third parties claiming to be agents/representatives of the banks on matters relating to repayment assistance. Banks do not appoint or engage third parties or agents for this purpose.

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