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Agrobank Offers Relief Measures Amid Coronavirus Pandemic

KUALA LUMPUR – Agrobank has announced a suite of measures, aiming to provide relief to customers affected by the COVID-19 pandemic.

The relief includes restructuring and rescheduling of financing, as well as moratorium on financing repayments for up to six months.

Covering President / Chief Executive Officer (P/CEO) of Agrobank, Khadijah Iskandar said “We value our long-term relationships with clients, hence the financial relief would be made available to both of our business and small and medium size enterprises (SMEs) customers as well as individuals affected by the current situation and would be assessed on a case-to-case basis.”

“We trust the relief measures, coupled with the RM20 billion stimulus package announced by Bank Negara Malaysia (BNM) recently, will bring better prospects for continued economic growth in Malaysia,” she added

BNM has allocated RM3.3bil in total to help SME to sustain their business operations, safeguard jobs and encourage domestic investments through Special Relief Facility (SRF), Agrofood Facility (AF) and SME Automation and Digitalisation Facility (ADF).

All three facilities are available via participating financial institutions including Agrobank. Proactively, the Bank has identified the affected customers who are eligible for the stimulus package.

“Whilst the full reaching human and economic impacts of COVID-19 are still largely unknown and evolving, the focus, at this crucial stage, is preeminently on how Agrobank can help to manage the impact on our customers, staff, communities and partners,” she further commented.

The Bank is also prepared to extend maturity period of trade financing and working capital financing in order to help economic operators safeguard jobs, alleviate cash-flow problems and ensure business continuity.

In response to the announcement made by the Government on the Movement Control Order from March 18 until March 31, Agrobank branches will remain open as usual. Agrobank is also talking up its online and mobile banking capabilities to customers as to encourage more Malaysians to avoid public places amid the coronavirus outbreak.

“We strongly encourage our customers to fully utilise our internet banking facilities for both AGRONet and AGRONetBIZ and also our mobile app, AGRONet. We want to make sure our customers are fully aware that they can bank, invest, and make payments from wherever they are, particularly if they’re not able to come to our branch for any of their banking needs,” said Khadijah.

Customers can call the bank’s customer contact centre at 1-300-88-2476 or visit the nearest branch to enquire more information on the assistance available.