DBS Hong Kong today announced that it will introduce a range of special relief measures to help small-and-medium sized (SME) businesses to address their most urgent cashflow needs in these challenging times.
1. Term Loans: Principle Repayment Moratorium for Up to 6 Months
This measure aims to relieve pressure of making monthly installment covering business mortgage and taxi, public light bus loans.
2. Import Trade Facilities: Maturity Extension for Up to 60 Days
This will act as immediate cashflow support for businesses coping with supply chain disruptions.
3. SME Financing Guarantee Scheme (SFGS): Special offer
To provide additional support to SMEs, DBS Hong Kong offers successful SFGS applicants
1) loan set-up fee waiver;
2) account opening fee waiver for new customers; and
3) maximum 50% rebate of the guarantee fee in the first year up to HK$50,000.
4. Supporting Efforts to Curb Infections
DBS Hong Kong offers flexible funding facilities and interest rate concessions, to customers involved in the production or procurement of relevant medical resources. Customers can contact their Relationship Managers for further discussions.
5. Digital Banking Anytime and Anywhere
With DBS Hong Kong’s comprehensive suite of digital banking tools, customers are able to take care of their banking needs, including account opening and loan applications, without visiting our branches in person.
“Just as we did during SARS in 2003, DBS Hong Kong is extending our full support to SMEs, with comprehensive relief measures to help our customers overcome the current challenges. DBS Hong Kong is standing by our SMEs and the community in the fight against the COVID-19 outbreak,” Alex Cheung, Managing Director and Head of Institutional Banking Group, DBS Hong Kong, said.
DBS Hong Kong will continue to support our customers with relief measures during this challenging time and will announce additional measures in due course.
Remark: Please note the above relief measures are subject to review and approval by the Bank.
DBS is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named “World’s Best Bank” by Euromoney, “Global Bank of the Year” by The Banker and “Best Bank in the World” by Global Finance. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 11 consecutive years from 2009 to 2019.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all of our 28,000 staff, representing over 40 nationalities. For more information, please visit www.dbs.com.