21 February, 2024, 11:19 am Central - 29°C Rain

HFC Bank now provides loan deferment to 25% of its customers compared to 50% in March

HFC Bank now provides loan deferment to 25% of its customers compared to 50% in March

By Rashika Kumar
Monday 28/09/2020
HFC Bank CEO, Rakesh Ram

HFC Bank CEO, Rakesh Ram says the bank has now extended repayment deferments to 25% of their customers from the initial 50% in March.

He says 53% of these customers are businesses.

Ram says they acknowledge that customers will continue to face hardships which is why any applications for extension on repayment deferment will be reviewed and assessed on a case-by-case basis.

The CEO says they are requesting their customer to discuss other assistance options with the bank if they are still unable to meet their loan repayments post the repayment deferment period.

He says where it would be established that the current pandemic is not linked to the client’s inability to meet the bank’s obligations, then the bank will apply its normal credit criteria to address and protect its risk.

He has also highlighted that the bank has continued to open new business accounts at the same rate in comparison to the same period last year but cash flows are irregular as the effect of the pandemic is being felt by businesses all across the world.

FEATURE NEWS
Qereqeretabua says it was disgusting and humiliating of Kumar to accuse her of engaging in explicit acts
Assistant Minister for Foreign Affairs, Lenora Qereqeretabua says she feels that one of the problems being given freedom of speech without responsibil...
2 hours ago
LATEST NEWS
Fijian British Army sergeant denies committing bigamy
A Fijian British Army sergeant accused of bigamy after he married a second woman in Kenya when he had not yet divorced his first wife insisted he ...
21 minutes ago

New Vunisea Market opens in Kadavu
It was a proud moment for the market vendors at the Vunisea Market in Kadavu as their prayers have been answered after the opening of their new ...
35 minutes ago

GCC meeting to be held at Lagoon Resort, Pacific Harbour next Wednesday and Thursday
The 2024 Great Council of Chiefs meeting will be held at the Lagoon Resort in Pacific Harbour next week. The Ministry of i-Taukei Affairs has ...
51 minutes ago

15 year old student charged after viral assault video
The 15 year old student seen in a viral video assaulting another student in Nadi has been charged by Police. Police confirm the accused has been ...
3 hours ago

Prof. Prasad to appear on fijivillage Straight Talk With Vijay Narayan at 7 tonight
Deputy Prime Minister and Minister for Finance, Professor Biman Prasad will appear on fijivillage Straight Talk With Vijay Narayan at 7pm ...
4 hours ago


fijivillage Straight Talk with Vijay Narayan
Latest Videos

Stay tuned for the latest news on our radio stations

CFL radio frequencies
yb
IN DEPTH
Kishore Kumar Trial
Kishore Kumar is charged with allegedly making false claims on his Facebook page, Kishore Kumar Publications that there was a porn video of ...
19 hours ago

Concerns raised regarding the state of CWM Hospital
General and Chief Pediatric Surgeon at the CWM Hospital, Dr Josese Turagava says due to the increase in the number of people who are moving to the ...
2 days ago

HSBC Perth 7s 2024
The Fiji Airways Men’s National 7s side secured a 4th place finish at the HSBC Perth 7s while the Fijiana 7s finished 8th in the Women’s ...
18 days ago

TOP