Yangon, 24th March 2020 – uab bank, who was named Myanmar’s Best Bank by Euromoney, today announced financial relief measures to assist their customers affected by the COVID-19 virus to alleviate short-term cash flow problems in repaying their loan obligations.
This includes a moratorium on loan repayments for up to six months, restructuring and rescheduling of existing loans and additional financing to affected customers in the hardest-hit sectors.
“We understand the difficulties that our customers are facing and pledge to stand together with the community and our customers to weather through this challenging time. Our RMs and branch managers has been briefed on these measures for our customers and are actively reaching out to affected customers to see how we may assist them. We will continue to assess the situation and take additional measures where required to support our customers and the business community during this difficult period.” said MD & CEO of uab bank Christopher Loh.
Customers may reach out to their Relationship Managers or Branch Managers to discuss their situation and explore the various options available.
The measures taken by uab bank also are complementary to some of the measures announced by the Central Bank of Myanmar (CBM) to support the business sector in these times of uncertainty.
“Further, we encourage our customers to adopt and leverage on our electronic banking facilities such as mobile and internet banking, ATMs, debit and credit cards that provide almost contactless services and banking convenience - anytime, anywhere in this crucial time of minimising the risk of the outbreak”, added Christopher.
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