Citi rolls out relief measures for customers

Clients are offered a one-month maturity extension for import trade loans.

Citigroup has rolled out measures to support both its retail and commercial clients amidst the pandemic, including extension of loan deadlines and waivers, the bank announced.

Commercial bank clients in Hong Kong are offered a one-month maturity extension on existing and new import trade loans, and may be extended for up to two months on a case-to-case basis.

Clients in the city will also have the flexibility to convert a portion of the unutilized trade lines into a revolving line for 6 months.

Successful applicants under the new Hong Kong SME Financing Guarantee Scheme will be granted premium waiver for the first two years of up to $100,000. A concession interest rate of 1% per annum (pa) for the first six months is to be offered.

Account opening fees for new Citi Commercial Bank clients in Hong Kong will also be waived.