OCBC offers support measures to customers

It will provide a moratorium on principal repayment for loans.

OCBC Bank has offered targeted support measures to assist customers in managing their cashflows amidst the COVID-19 outbreak, according to a press release.

These measures include allowing its customers to restructure their loans as well as providing a moratorium on principal repayment for loans. These include their home mortgages and business loans.

The bank will also extend the due date of the affected business’ trade finance bills, and extend bridging loans in the form of additional working capital financing to affected businesses.

These measures are available in Singapore, Malaysia, China, Hong Kong and Macau. OCBC also said that it will allow flexibility in accommodating each of its customer’s financial positions.