Atlas Mara Bank has extended a K1 billion relief package to its customers who have been adversely affected by the Covid-19 pandemic.
Atlas Mara Bank Zambia Managing Director James Koni says the bank is pleased to provide businesses with appropriate financial solutions and debt distress support programmes.
This relief packages will be given on existing credit facilities to support businesses facing financial distress caused by the Covid-19 pandemic and the subsequent lockdown measures at local and international level.
“As a Bank, we have put measures in place to ensure that the relief packages are supporting our customers whose businesses have been adversely affected by the Covid-19 pandemic. Our goal is to ensure that the relief reaches our customers who need the relief packages the most in the priority sectors identified in the 7th National Development Plan, notably Agriculture, Manufacturing, Tourism, and Energy”, He said
In a statement made available to the Zambian Business Times – ZBT on June 29, 2020, Koni said that Atlas Mara Bank accessed part of the K10 billion Bank of Zambia (BOZ) Medium Term Facility (MTF) funding announced recently.
He added that the Bank has put in place measures to support and provide relief to its customers who are facing various challenges as a result of Covid-19 pandemic and this has allowed the Bank to do even more for its customers.
“I am pleased to announce that a number of Corporate and SME customers have sought relief plans with the Bank of up to One Billion (K1, 000,000,000) worth of loans, which include interest rate reductions, facility reductions and capital and interest repayment holidays (moratoriums). This action demonstrates Atlas Mara Bank’s determination to support our customers and enhance their ability to get through the Covid-19 Pandemic and beyond,” He added
Koni has since commended Government and the Bank of Zambia (BOZ) for this initiative with the aim to provide relief particularly to the most affected sectors of the economy.
