Commercial Banks Offer Support to Customers Affected by Recent Floods

December 9, 2013
Kuala Lumpur, Monday, 9 December 2013:- Member banks of The Association of Banks in Malaysia (ABM) with operations in the East Coast states, Johor and Malacca will be pro-actively assisting customers, be they individuals or businesses, affected by the floods.

“Banks understand that this is a difficult and stressful time for those households and businesses affected by the floods. As in previous years, our member banks will be extending a helping hand during this challenging period by providing solutions and assistance to customers based on their individual financial circumstances,” said Chuah Mei Lin, ABM’s Executive Director.

The assistance provided by banks may include, but are not limited to deferring home loan repayments; restructuring business loans without incurring fees; or granting a temporary suspension of repayment instalments.

“Our member banks are making efforts to reach out to customers to help them get back on their feet. Customers facing financial hardship as a result of the floods are also urged to contact their banks as soon as possible so that their situation can be assessed and advice can be given. Maybank, ABM’s Chairman Bank, announced a moratorium which covers deferment of monthly instalments on a case to case basis on loan payments for its customers affected by the floods for up to 6 months last Thursday, 5 December 2013. Like Maybank, other banks may also consider waiver of charges for affected customers seeking replacement of ATM cards, cheque books and passbooks which have been destroyed in the floods,” added Chuah.

Members of the public who are for any reason unable to contact their banks are welcomed to inform ABM through ABM’s toll free number, ABMConnect 1-300-88-9980 which is opened from Mondays to Fridays (save for public holidays), 9.00a.m. to 5.30p.m. or through our website
ABMConnect | Toll-free on 1300-88-9980

ABMConnect provides an avenue for consumers to clarify any doubts and verify information on conventional banking issues.