BSP Bank is monitoring the evolving nature of the coronavirus and is arranging relief packages to assist customers during this period.
BSP Group CEO Robin Fleming says BSP is working closely with the Central Bank and other authorities both within Papua New Guinea and in all the countries in which BSP operates.
Fleming says fundamental to their planning is being able to support their customers and as the leading bank in the South Pacific, they have a responsibility to help people in their communities and around the Pacific.
Given the implications of travel restrictions imposed by various governments, it is clear this will have an impact on some of BSP’s customers.
Fleming advises any business financially impacted by the effects of the COVID-19 should contact their BSP Relationship Manager to access the assistance on offer.
To assist BSP customers impacted by COVID-19, BSP Fiji will be providing the following relief package on a case by case basis, for business, interest only facilities for up to 6 months, principal and Interest holiday for up to 6 months.
All Business customers should speak to their Relationship Manager in the first instance.
For personal, personal Loans, 6 months Principal and Interest holiday., car loans 6 months Principal and Interest holiday, Credit card – repayment holiday up to 6 months, Home Loans – 6 months Principal and Interest holiday.
Maturity term will be extended by a commensurate term of the suspended repayment period.