Globally, a lot has happened over the past few months as governments, companies and communities work together to contain the spread of COVID-19. While the situation in mainland China is stabilising, cases in other markets are on the rise. This has not only brought about severe concerns over public health, but also anxieties in the global financial markets.
At UOB (Thai), the health and well-being of our customers, employees and the community have been foremost in our mind. We understand the stress and uncertainties you may be experiencing amidst the outbreak of COVID-19 and the resulting stock markets volatilities.
Rest assured, we have been vigilant and taking proactive measures to protect the well-being of our staffs and customers.
Across UOB Group, we have activated business continuity plans, split sites, halted business travel and restricted people movement in line with respective countries' border controls. We have increased the frequency of cleaning services and implemented thermal screening measures at our branches and office buildings. Masks and hand sanitizers have been distributed to our staffs. We take this matter very seriously to minimise the impact of the outbreak on our customers and employees.
We appreciate the economic impact of COVID-19 on industries and businesses. We are therefore providing relief measures for our customers, to assist both corporate clients - particularly SMEs - and retail customers in overcoming their temporary cash flow difficulties. The measures included a relaxation of repayment terms and conditions, extension of loan tenor to lower repayment burden for our customers.
While there is much still unfolding ahead of us, we want to give our customers peace of mind with an added protection as they continue with their daily activities. With that in mind, we have partnered with Prudential to provide a complimentary income and life insurance coverage for customers who should unfortunately contract COVID-19.
Last but not least, with the recent stock market volatilities, our bankers are proactively engaging our customers on portfolio reviews, providing advisory services for wealth preservation and responding to other needs of our retail customers.
Please reach out to your Relationship Managers or visit our branches to enquire about the various assistance programs we have made available for you.
We are committed to standing by customers, employees and the community during these trying times. The Bank remains well capitalised and stands firm. We are poised to support and do what is right for you over this crisis.
Thank you for choosing to bank with UOB.
Tan Choon Hin
President & CEO