KUALA LUMPUR (July 20): Public Bank Bhd remains committed to helping individuals and small and medium enterprises (SMEs) in need of repayment assistance, including in rescheduling and restructuring (R&R) their loans.

In a statement on Thursday (July 20), Public Bank’s managing director and chief executive officer (CEO) Tan Sri Tay Ah Lek said the bank’s comprehensive suite of repayment assistance to individuals and SMEs remains widely available in support of the government’s ongoing efforts throughout the economic recovery phase.

“Public Bank has been providing repayment assistance to borrowers who are in need including R&R of payment. Further to this, with the increase of interest rates, borrowers may also request to retain their pre-existing monthly installment amount prior to the interest rate increase,” Tay said.

He added that throughout the years, from the pandemic to the recent floods, Public Bank has offered repayment assistance to flood relief assistance to defer repayment in order to alleviate the financial burden of borrowers who are adversely affected by such calamities.

Taking flood relief assistance as an example, Tay said Public Bank has been offering support to SMEs for repairs as well as replacing their business assets such as plants and machinery, which have been damaged by floods, and also providing working capital assistance.

“This is achieved through the offering of the Bank Negara Malaysia’s (BNM) Disaster Relief Facility of which Public Bank has provided over RM38 million in financing to date.”

Public Bank has also placed significant emphasis on raising awareness about Khidmat Nasihat Pembiayaan (MyKNP).

This advisory service provides greater understanding of the factors affecting borrowers’ financing applications and subsequently, by addressing those factors could help in raising their eligibility for future financing.

Public Bank’s shares gained one sen or 0.25% to close at RM3.97 on Thursday, valuing the group at RM77.06 billion.