Bangkok Bank launches measures to help business and retail customers affected by the 2024 flood

Bangkok Bank is concerned for people and customers affected by the flood, and is helping all customers to alleviate their hardship and damage caused by the floods, by reducing installment amounts, suspending principal payments, adjusting terms and conditions, restructuring debt, issuing new loans, and helping businesses and livelihoods rehabilitate while reinforcing its status as a 'trusted partner and reliable close friend' standing alongside customers and Thai society in all situations.

Bangkok Bank Senior Executive Vice President Siridej Aungudomsin said that the Bank is concerned for people and customers in all flood-affected areas. The Bank has issued measures to relax debt repayment and provide loans to alleviate the suffering of those affected by floods, aiming to provide assistance to all customer groups, including business and retail customers, who have been directly and indirectly affected by the 2024 flood, including:

SME customers

• Easing of the debt repayment conditions as considered appropriate to borrowers such as reduction of the installment payment amount, extension of the repayment period and temporary suspension of the principal payment
• Additional loan support to increase business liquidity in the short term to enable business recovery, investment and improvement
• Measures to suspend payment of loan guarantee fees and guarantee management fees of the Thai Credit Guarantee Corporation (TCG) for a period of 6 months

Retail customers

The Bank has prepared several measures to provide assistance to affected customers depending on the level of severity, including:

Credit card

• Reduce the minimum payment rate by 3% from the regular rate for a period of 6-12 months
• Reduce the accrued interest by 25%-75% for no more than three billing cycles or up to 90 days
• Debt restructuring

Personal loans under supervision

• Bualuang Loan Sookjai - Reduce the interest rate by 1% from the regular rate for not more than 3-6 months or postpone principal payments while still paying full interest payments for 3-6 months.
• Bualuang Loan Aunjai - Reduce interest rates by 1% from the regular rate for not more than 3-6 months.

Housing loans, home equity loan and personal loans

• Reduce monthly installment payments by up to 40% (full payment of interest and partial payment of principal) for up to 6-12 months.
• Pay installments according to the original conditions and reduce interest rate by 0.5% for 3-6 months
• Grace period on principal payments while maintaining full payment of interest for 3-6 months
• Grace period on principal payments and partial payments of interest of not less than 70% for 3 months or not less than 50% for 6 months, with the remaining interest set aside.

In addition, the Bank is ready to support the Bualuang Poonphol Loan, which uses a home as collateral, with a 5-year installment period and a special interest rate of MRR-2% per year to allow customers to repair their house and buy furniture.

Customers affected by the 2024 floods can submit their request to participate in the measures by December 30, 2024, at the Bank's branches, Business Center, Business Relations Officer, Consumer Loan Center, Credit Card Department, www.bangkokbank.com or Call center Tel. 1333 or 02 645 5555.

"The Bank is concerned and aware of the problems of customers affected by the floods in many areas of Thailand. Bangkok Bank is ready to play a part in alleviating the suffering of all groups of loan customers through various relief measures and relaxation of debt repayment, as well as additional credit measures to help restore businesses and livelihoods. This will help customers overcome difficult times and get back on track. The Bank is ready to support as a 'trusted partner and reliable close friend' standing by customers and Thai society in all situations," said Mr. Siridej

Bangkok Bank attaches great importance to the principle of responsible lending in accordance with the BOT's guidelines that encourage customers to borrow as much as necessary and repay as they can afford while considering that the assistance is in accordance with the Bank's criteria, conditions, and regulations.

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