BOT Extends Covid-19 Relief Package for Retail Borrowers

The Bank of Thailand (BOT) says individuals, small and medium enterprises and retailers, impacted by a resurgence in coronavirus outbreak can seek various debt relief measures from lenders.

 

Relief measures for retail borrowers will be extended till the end of June, while individuals can seek financial assistance from banks including delaying debt re-payment, interest rate cuts and reduction in payments, Deputy Governor Ronadol Numnonda says at briefing on Tuesday.

 

Businesses, SMEs and retailers can also ask banks for help including debt restructuring, more liquidity and delay repayment of debt.

 

Relief can be sought on transactions related to credit cards, personal loans, leasing and mortgages.

 

Ronadol further states that BOT will monitor the situation closely and assess the situation regularly, however, the Government has controlled the virus situation well and avoided lockdown, minimizing impact on businesses.

 

But BOT and banks are concerned about workers and SMEs and the central bank is in close discussions with banks to assess the situation.

 

About 11 million accounts worth 5.6 trillion baht of loans have applied for financial assistance under previous programs and of the total applicants, 10 million accounts are retail borrowers.

 

In addition, BOT can issue more measures if needed, Ronadol.