CUSTOMERS of a local bank are now turning in to meet repayments in full or start with interest payments. In a statement issued yesterday HFC Bank chief executive officer Rakesh Ram said the bank would continue to individually assess each client’s situation and see how best it would be able to assist.
According to Mr Ram the bank would apply its normal credit criteria to address and protect its risk in cases where it would be established that the current pandemic is not linked to the client’s inability to meet the bank’s obligations.
Mr Ram said in their effort to provide hardship assistance during the current situation, the HFC Bank continued to extend repayment deferments to 30 per cent of its customer base from overall 65 per cent initially assisted.
According to the bank of the customers under the bank’s assistance, 22 per cent are consumers, while 78 per cent are businesses.
The bank also highlighted that any application for extension on repayment deferment would be reviewed and assessed on a case-by-case basis, adding that if customers were still unable to meet their loan repayments post the repayment deferment period, they should discuss other assistance options with the bank.
