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.


Five Squares Gray Inn

Latest Videos

Stay tuned for the latest news on our radio stations

CFL radio frequencies
IN DEPTH
Public Consultation on Draft Media Bill
The new media legislation proposed by the coalition government is aiming to preserve the elements of media ownership regulation and registration ...
9 days ago

Proposed Tian Lun project at Nasese
Concerned residents are wondering why there was no publicity about such a huge project that will affect the environment along Queen Elizabeth ...
40 days ago

Leader of Opposition Voreqe Bainimarama suspended from parliament for 3 years
Leader of the Opposition, Voreqe Bainimarama has been suspended from Parliament for 3 years
43 days ago
FEATURE NEWS
Fiji beat Argentina 26-19 in final HK 7s pool match and will meet SA in the quarter final
The Fiji Airways men’s 7s team made a brilliant second half comeback to beat a strong Argentine side in their final pool encounter. Josese Batire...
9 hours ago
LATEST NEWS
Hong Kong 7s: Fijiana 7s beat USA 19-14
- Reapi Uluinsasau scores to send the Fijiana through to the semifinal. 19-14.- Meredani Qoro scores for Fiji! Conversion is good. Both teams at 14 ...
5 hours ago

E3 annual video game showcase event in Los Angeles cancelled
This year's Electronic Entertainment Expo, the annual video game showcase known as E3, has been cancelled. It was due to return as an in-person ...
12 hours ago

Dominant first half sees Drua beat Rebels 38-28
A dominant first half display laid the platform for the Swire Shipping Fijian Drua’s 38-28 victory over the Rebels in the Shop N Save Super Rugby ...
13 hours ago

Rebels no match for the Fijiana Drua
The Rooster Chicken Fijiana Drua has thrashed the Rebels 39-12 in their Super W match at the HFC Bank stadium. The Rebels were no match for the ...
15 hours ago

Fans travel from Ba to support the Drua
Swire Shipping Fijian Drua and the Rooster Chicken Fijiana Drua fans have come all the way from Ba to witness the double header today at the HFC ...
17 hours ago

TOP