Stanbic Bank is offering debt relief to customers affected financially by COVID-19

Stanbic Bank is offering debt relief to customers that have been adversely affected financially by the COVID-19 outbreak.

Stanbic Bank Chief Executive Leina Gabaraane said that the debt relief would be provided to both Personal and Business Banking clients that meet the Bank qualifying credit parameters.

“We understand that the COVID-19 pandemic has negatively impacted your personal and business finances in the short-term and will likely slow down longer term sustainability” said Mr Gabaraane. “As a result of this, we are urging all customers who find themselves in a financial difficulty resulting from COVID-19 to contact us immediately because together we can find a solution that works.”

He added, “Your financial wellbeing is very important to us and we are committed to supporting you through this uncertain time. If you are struggling to repay your debt with us or to meet your financial obligations, please contact us for assistance and we will do all we can to help you.”

Stanbic Bank will consider the following customers for debt relief:

Individuals with existing borrowing facilities acquired directly through the bank or through a scheme arrangement made with the ank and their employers;

Small and medium-sized enterprises with existing borrowing facilities; and commercial and corporate clients with existing borrowing facilities

We are aware of the financial constraints that some of our clients have been put under as a result of the COVID-19 pandemic and we therefore believe that by offering them help to deal with these difficulties, we can contribute to their wellness but also to a faster recovery of the economy,” said Mr Gabaraane.

Source: Langmead & Baker