Citi Malaysia offers moratorium to all customers

KUALA LUMPUR: Citi Malaysia has extended its repayment assistance measures following the recent announcement on the Pemulih package to all customers.

The bank said it was also actively engaging with those in the B40, M40 and T20 groups as well as micro, small and medium enterprises (MSMEs) impacted by the Covid-19 pandemic.

Citi Malaysia chief executive officer Usman Ahmed said the bank’s focus was to ensure support for its customers, especially at this challenging time given unemployment due to loss of jobs or inability of enterprises, to sustain themselves financially.

“It is here that as a trusted and responsible financial partner, seamless execution of all customer requests and prompt service delivery are top priority to us to fulfil the urgent financial needs of our customers,” he said in a statement today.

Borrowers have the option to choose between a moratorium or a 50 per cent payment program for their loan facilities.

Both options are valid for six months.

Citi credit card customers will also be able to convert their card balances into term loan facilities, to better manage their debt, the bank said.

Citi Malaysia said its MSME borrowers whose operations are impacted, can opt-in for a six-month extension to the maturity dates on loans or trade bills or a 50 per cent reduction in installment payments over six months for term loans.

Source: NST