Bangkok Bank Introduces Support Measures for Business and Retail Customers Affected by the 2024 Floods

Bangkok Bank is stepping up to assist customers affected by the 2024 floods, demonstrating its commitment to being a ‘trusted partner and reliable close friend’ standing by the side of customers and Thai society through all situations. The bank is implementing a range of measures aimed at alleviating the hardships faced by both business and retail customers, offering flexible repayment options, new loans, and business rehabilitation support.

Siridej Aungudomsin, Senior Executive Vice President of Bangkok Bank, expressed the bank’s deep concern for all customers in flood-affected areas. He emphasized that the bank has initiated various support measures to ease the burden on customers. The assistance includes:

Support for SME Customers:

• Adjusting repayment terms, including installment reductions, extended repayment periods, and temporary suspension of principal payments.
• Offering additional loans to enhance liquidity and promote business recovery, investment, and improvement.
• Suspending payment of loan guarantee and management fees under the Thai Credit Guarantee Corporation (TCG) for 6 months.

Support for Retail Customers:

• Credit Cards: Minimum payment rate reduced by 3% for 6-12 months; accrued interest reduced by 25%-75% for up to 90 days; debt restructuring.
• Personal Loans (Bualuang Loan Sookjai and Aunjai): Interest rate reductions of 1% for 3-6 months, with options for principal payment postponement.
• Housing and Personal Loans: Installment reductions of up to 40% for 6-12 months; grace periods for principal payments while paying partial interest.

To further support recovery, the bank is offering the Bualuang Poonphol Loan, with a special interest rate of MRR-2% per year over a 5-year period, aimed at helping customers repair their homes and purchase furniture.

Affected customers can apply for these relief measures until December 30, 2024, via any of the bank’s branches, its Business Centers, or through the bank’s website, www.bangkokbank.com. They can also call the customer service hotline at 1333 or 02 645 5555.

“The floods have caused significant challenges across many regions, and Bangkok Bank is ready to help customers overcome these difficulties with tailored relief measures,” said Mr. Siridej. “We are committed to providing financial support that will help customers restore their businesses and livelihoods, ensuring they can recover from these challenging times. Our role as a ‘trusted partner and reliable close friend’ is one we take very seriously, standing by our customers and society as a whole in all situations.”

Bangkok Bank is committed to responsible lending practices, following the Bank of Thailand’s guidelines to ensure that customers borrow only as much as needed and can repay comfortably.