30 April 2020
Bangkok (30 April 2020) – Krungsri (Bank of Ayudhya PCL) disclosed the progress in providing soft loans for small and medium-sized enterprises (SMEs) affected by the spread of the 2019 coronavirus outbreak or COVID-19. The Bank has approved soft loans worth 8.8 billion baht, accounting for 16% of the 55-billion-baht soft loan scheme under the collaboration between Government Savings Bank (GSB) and financial institutions to assist SME entrepreneurs.
Krungsri Head of SME Banking Group Mr. Sayam Prasitsirigul said, “Krungsri has placed priority on the SME sector, which plays an important role in driving the country’s economy and serves as a source of employment. Given that the COVID-19 outbreak has negatively affected SME entrepreneurs and related supply chain systems, Krungsri continues to release assistance measures to lessen the impacts and alleviate the burden of SME customers in line with the government’s policy that seeks to help them maintain their business continuity in this challenging time. The assistance measures include the deferment of principal and interest payments and the provision of soft loans to enable the affected SMEs to continue their businesses efficiently and be able to cope with business pressures brought on by the outbreak.”
“Under the GSB soft loan scheme in the MOU signed between GSB and financial institutions in March 2020, Krungsri has already provided 8.8 billion baht of soft loans to affected SMEs. The amount accounts for 16% of the total credit line of 55 billion baht for financial institutions participating in the GSB soft loan project, which has a total credit line of 150 billion baht. Under the scheme, the maximum loan limit for each SME entrepreneur is 20 million baht, with an interest rate of 2% per annum for two years, and at the moment Krungsri’s SME customers have already received the loans.
Despite the possibility that the outbreak could last longer than expected, Krungsri remains committed to its aspiration to become the main bank for SMEs, standing hand in hand with them to weather this crisis together.” Mr. Sayam added.
In addition to the GSB soft loan scheme, Krungsri has also launched another soft loan scheme under the Bank of Thailand’s measures to offer new loans to existing customers with a credit line not exceeding 500 million baht for them to increase liquidity and use as working capital. Customers can apply for up to 20% of their outstanding balance as of 31 December 2019, with a 2% interest rate for two years. Interest is waived for the first six months.
SME customers can contact their respective relationship managers or submit their request through the “Requesting Assistance Measures for Loan Customers Impacted by COVID-19” program by visiting the Bank’s website at krungsri.com.