Absa Bank Ghana has announced a financial relief package to cushion its customers in the wake of the economic challenges currently being faced as a result of the coronavirus pandemic.
Absa Bank is offering an up to six months repayment moratorium to all personal and business customers who have been hit by COVID-19. The bank has also reduced its lending rate by two per cent on qualifying personal, SME as well as loans to other impacted industries.
The bank in a statement indicated that these measures take effect from April 1, 2020 and would be implemented across loans due in April 2020, subject to the necessary arrangements.
Absa Bank has already waived charges on interbank instant transfers on its digital channels and also made mobile money transfers of up to GH¢100 daily free.
Explaining the financial relief package, the bank indicated that it was only right that it offers some relief to help customers remain in business during these challenging times due to the COVID-19 pandemic.
“This pandemic is nothing we have seen before and is very alarming to say the least. As a caring bank, it is important for us to support our customers who keep us in business. We will keep monitoring the developments on COVID-19 and take the decisions that will be in the best interest of customers,” Mrs Abena Osei-Poku, the Managing Director of Absa Bank Ghana said.
“Our primary focus is on serving our customers in a safe environment while maintaining the health and well-being of our employees, their families and the general public. We have ensured that our customers will have access to secure and convenient services during this period through our digital channels, Cash accepting ATMs and our Relationship Managers,” noted Mrs Osei-Poku.
As part of the precautionary measures taken by the bank against COVID-19, it has temporarily reduced its branch operations and encouraged customers to stay at home and use its digital channels for their banking transactions.