HSBC Bank Malta has introduced a number of measures to support businesses which may be negatively affected by the Novel Coronavirus (COVID-19) outbreak, the bank said in a press statement on Wednesday morning.

These measures, which are coming into effect immediately for those businesses which meet HSBC Malta’s credit criteria, include: capital repayment holidays; fee free temporary short-term working capital funding; faster turnaround on issuance of shipping guarantees and the waiver of urgency fees; as well as the waiver of amendment fees on Letters of Credit impacted by delays.

Joyce Grech, Head of Commercial Banking at HSBC Malta said, “The outbreak of the Coronavirus is having a significant impact on the global economy and, of course, Malta is also being affected.

“As we enter what is likely to be a challenging period, particularly for businesses in certain sectors, HSBC Malta is determined to do what it can to provide the support our customers need. As the situation develops, HSBC Malta will continue to monitor the situation and to assess what further measures may be necessary.”

HSBC Malta commercial customers who feel they require support due to the impact of the Novel Coronavirus on their business, are asked to contact their Relationship Manager who will be able to provide guidance on the next steps. Each request for support will be considered on a case-by-case basis.