CIMB Group Holdings Berhad has reinforced its commitment towards supporting the recovery of small and medium enterprises (“SMEs”) by extending a flexible and convenient payment assistance to promote their long-term financial resilience.
CIMB Bank Berhad (“CIMB Bank”) and CIMB Islamic Bank Berhad (“CIMB Islamic”) will continue to provide comprehensive financing solutions with flexible and staggered repayment structures of 25% and 50% of the existing monthly instalments, for up to 12 months through seamless application and approval process with minimal documentation required.
In addition, the Bank is also able to provide SMEs with a customised restructuring and rescheduling payment structure to meet their repayment obligations/commitments.
Ahmad Shazli Kamarulzaman, Deputy CEO, Group Commercial Banking, CIMB Group, said, “We are cognisant of the importance of SMEs as the essential contributors of our economy and the challenges faced by them. As a purpose-driven financial institution, we are committed to continue facilitating and supporting our customers’ financial health and resiliency in transitioning towards economic recovery. As such, we would like to reassure our customers that the financial assistance is available to help them navigate through this period and support the sustainability and viability their businesses.”
As of May 2023, CIMB has provided financial payment relief assistance amounting to more than RM1.0 billion in loan value to SME borrowers.