HSBC Malta introduces measures to support businesses affected by Coronavirus

HSBC Bank Malta p.l.c. announced it has introduced a number of measures to support businesses which may be negatively affected by the Novel Coronavirus (COVID-19) outbreak.

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 the 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.”

The bank said that as the situation develops it will continue to monitor the situation and to assess what further measures may be necessary.