8 January 2021
The Group hopes its efforts will help to ease the additional financial burden experienced by flood victims amid the COVID-19 pandemic
Kuala Lumpur: CIMB Group Holdings Berhad (“CIMB” or “the Group”) announced today that it will be contributing financial assistance and providing financial obligation payment relief to support communities, customers and staff who have been affected by the recent flooding in various states across Malaysia. Through its Corporate Responsibility arm, CIMB Foundation, the Group will contribute RM300,000 via various agencies such as Mercy Malaysia and the Malaysia Red Crescent Society. The contribution is towards on-ground support for flood victims as well as post recovery help.
Alongside this, CIMB Bank Berhad (“CIMB Bank”) and CIMB Islamic Bank Berhad (“CIMB Islamic) will also be providing payment relief on various loans and financing products in an effort to alleviate the financial burden of customers and staff in communities that have been impacted by the floods. A six-month payment relief will be granted on request by customers, and is applicable to all home financing, business premises financing and ASB financing for affected individuals and to SME loan/financing for affected local businesses. Meanwhile, CIMB will also 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/debit card replacements, statement requests or replacements of damaged passbooks and bankers' cheques. For SME customers, late charges and fees imposed by the bank will be waived for three months. CIMB will work closely with its insurance partners to expedite the processing of insurance claims due to the floods in affected areas.
Dato’ Abdul Rahman Ahmad, Group Chief Executive Officer of CIMB Group, said, “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. We hope our efforts will help to ease the additional financial burden experienced by flood victims, and subsequently help the affected communities in rebuilding their lives and livelihoods.”
As part of its efforts in helping the flood victims, CIMB has also provided cash relief and in-kind assistance in the form of essentials such as food and drinks for affected staff. Additionally, CIMB has provided blankets to the Malaysian Relief Agency (MRA) for distribution to a hospital and flood relief centres, and are looking into providing further assistance.