Home News Banking & finance

Banks to work closely with affected customers on funding and refinancing solutions: ABS

Felicia Tan
Felicia Tan11/3/2020 10:01 PM GMT+08  • 1 min read
Banks to work closely with affected customers on funding and refinancing solutions: ABS
ABS says banks would continue to consider credit accommodations among other things.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

The Association of Banks Singapore (ABS) says banks will work closely with their affected customers to explore funding and refinancing solutions to help ease their near-term financial strain.

The statement, dated Nov 3, came after the Ministry of Law introduced a framework to enable eligible businesses that have been severely impacted by Covid-19 to renegotiate or to terminate certain contracts.

Parties whose contracts have been affected could face consequent constraints in their operating income and cash flows.

×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.