SINGAPORE - Banks in Singapore are extending additional relief measures to help their retail and business customers, in support of industry efforts rolled out by the Monetary Authority of Singapore and financial institutions last week to ease the financial strain caused by the coronavirus outbreak.
This is the third change since February 26, when it was introduced at $50,000 and was subsequently doubled to $100,00 on April 3. It is among relief measures that DBS has rolled out to SMEs, including a six-month moratorium on the payment of the principal sum for existing property loans taken by SMEs, and an extension of import facilities for up to 60 days for immediate cash flow support.
She added that the bank will continue to engage SMEs and industry partners to meet the specific needs of different sectors.On Tuesday, HSBC said it would add several relief measures to support the package announced earlier by MAS.
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