HSBC Malta has announced new measures to help personal clients affected by the COVID-19 pandemic.

As of noon 23rd March, Malta registered 107 cases of the virus, as global cases surpass 300,000. In light of the massive economic and business disruption, HSBC has launched a series of measures to support personal customers in a range of sectors who may be affected.

The measures, subject to customer’s circumstances and eligibility criteria, include a three-month capital repayment moratorium on home loans and personal loans.

Michel Cordina, Executive Director and Head of Business Development at HSBC Malta said, “The COVID-19 outbreak is clearly creating significant disruption for everyone and it is important for us as a bank to support those customers who may find themselves in a challenging situation through no fault of their own.

"HSBC is committed to giving its full contribution towards helping the community and the Maltese economy through this period and will continue to monitor the situation and, should it be necessary, further adapt these measures.”

Gregory Inglott, Deputy Head of Wealth and Personal Banking at HSBC Malta said: “During these challenging times, we want to keep as close to our customers as possible to support their financial wellbeing. We are here to help, and, at this time, we urge all customers to consider digital means of banking through cards, mobile and internet banking.”

To facilitate information and support, HSBC has created a specific microsite to share information: www.hsbc.com.mt/covid.

Through this site, customers are able to fill in a form requesting assistance, which will then be directed to the appropriate teams. Requests will be considered on a case-by-case basis.

The move follows a Government announcement of €1.8 billion in aid of businesses impacted by the pandemic. €700 million has been allocated to loan guarantees, with Government announcing banks may provide loan holidays for businesses who’s operations have been impacted.