Agrobank approves 9,101 applications for R&R assistance

KUALA LUMPUR (Oct 26): Agrobank has approved 9,101 applications for its restructuring and rescheduling (R&R) assistance.

The bank said these applications comprised commercial, consumer and micro customers seeking additional financial support to ease their cash flow, amid the Covid-19 pandemic.

Covering president/chief executive officer Khatijah Iskandar said Agrobank was committed to providing support for its customers during this challenging time.

“For customers who are still facing difficulties in paying their monthly instalments, Agrobank will continue to provide repayment assistance and accept applications until June 2021.

“We wish to assure all our customers that any financial assistance taken will not impact their Central Credit Reference Information System status,” she said in a statement today.

Agrobank is also encouraging all its customers to come forward to restructure or reschedule their facilities, as a long-term solution beyond the moratorium exercise.

As of today, Agrobank has approved all applications for extended moratorium as per the announcement made by Prime Minister Tan Sri Muhyiddin Yassin on the moratorium extension and targeted bank assistance in July.

As the bank provides financing across the value chain of agriculture, Khatijah said the assistance is available to individuals, micro, small and medium enterprises, and even corporate customers.

“We encourage our customers to consult our officers on options available or even if they are not sure what to do next,” she added.

Source: TheEdgeMarkets