COVID-19 RELIEF MEASURES
STATEMENT BY ABS CHAIRMAN, SAMUEL TSIEN, GROUP CEO, OCBC BANK:
“The shock to the economy from the Covid-19 outbreak is unprecedented. We must take extraordinary measures to address not just a health crisis, but what has developed to become a deep global economic crisis. It is our banking and social responsibility to do our best to help our affected customers ride through these difficult times and bring them back to their normal state as soon as possible. Banks have already introduced targeted financial relief programmes on an individual basis to their impacted customers, but we can do more as an industry. We are fully behind the measures announced by MAS. The measures are broad-based and standardised, to provide prompt and direct relief to affected individuals and businesses, particularly SMEs.
ABS and the banks in Singapore will work closely with MAS to ensure the continued health of our banking systems and the wellbeing of our economy.”
Details of the banking industry’s relief measures may be found in the links below:
If you require further support, banks will each offer a range of relief measures and debt restructuring programmes for customers facing severe financial stress and loss of income. Please contact your bank directly about these assistance schemes.
CONTACT INFORMATION OF BANKS/FIS OFFERING BILATERAL LOAN RELIEF AND RESTRUCTURING OPTIONS