CIMB offers financial aid for flood victims

Media: The Edge Markets

Section: News

KUALA LUMPUR (Jan 8): CIMB Group Holdings Bhd will be contributing financial assistance and financial obligation payment relief for communities, customers and staff who have been affected by the floods in various States.

The banking group said that through its corporate responsibility arm, CIMB Foundation, it will be contributing RM300,000 via agencies such as Mercy Malaysia and the Malaysian Red Crescent Society. This amount will go towards on-ground support for flood victims as well as post-recovery help.

At the same time, CIMB Bank Bhd and CIMB Islamic Bank Bhd will also be providing payment relief for loans and financing products to help staff and customers who have been impacted by the floods.

It said that a six-month payment relief will be granted on request to customers, and is applicable for all home, business premises financing and ASB financing for affected individuals and to SME loan/financing for affected local businesses. The lender also said that it will offer rescheduling and restructuring assistance for auto financing, personal financing (Express Cash, Cash Plus-i and Cash Plus Loan) and credit card financing.

Charges would also be waived for credit and debit card replacements, statement requests or the replacement of damaged passbooks and bankers’ cheques. As for SME customers, late charges and fees imposed by the bank will be waived for three months.

“CIMB is deeply rooted in the local communities that we operate in and we are committed to playing our part by providing financial assistance and payment relief to those who have been impacted by the flooding,” said CIMB chief executive officer Datuk Abdul Rahman Ahmad.

Shares in CIMB finished 0.73% or three sen lower at RM4.11 today, valuing the group at RM40.78 billion. The counter saw 21.43 million shares traded today.